Zambian kwacha is outshining its Southern African FX peers

Reports citing a document seen by Bloomberg suggest that Mopani Copper Mines Plc, which Glencore Plc sold to a Zambian government-owned company last year, faces electricity cuts over unpaid bills. Mopani Copper Mines was earlier this month notified by Copperbelt Energy Corp of plans to limit supply because of unpaid invoices of more than $20mn. The power cuts are set to commence this week. The latest development further raises the urgency that the Zambian government needs to seek solutions for Mopani, which has struggled to pay bills even during a period of record prices for copper. Earlier this month, Mopani said it had hired Rothschild & Co.