Mining revenues down P3bn, jobs down 2,000

The prevailing commodity prices slump is a global economic phenomenon largely caused by a slow recovery in the world economy. Africa’s largest economy, Nigeria is feeling it with the crash in oil prices having seen the country’s 2016-budget post a record deficit. Next door, the Zambian Kwacha is reeling from it with the collapse of copper prices and Botswana, with 80 percent of its foreign exchange revenue coming from one commodity, has unsurprisingly not escaped the commodity price slump.