THE Ministry of Energy says it is still reviewing all of Zesco Limited’s transmission infrastructure, which could be considered common carrier in line with the Statutory Instrument (SI) Number 57 of 2020. And the Ministry says it remains in full support of discussions between Zesco and the Copperbelt Energy Corporation (CEC) resuming to enable the...

ECONOMIST Professor Oliver Saasa has cautioned government not to proceed with its intention to take over Mopani Copper Mines, saying the move could render the mining company commercially unviable due to possible excessive political interference. And Prof Saasa says that the proposed take over where government, through ZCCM-IH, plans to buy out Glencore’s 90 per...

MINES Minister Richard Musukwa says Glencore is planning to offload around 90 per cent of its collective shares in Mopani Copper Mines Plc to government through ZCCM-IH. And Musukwa says ZCCM-IH will galvanise resources to ensure they manage and operate Mopani Copper Mines prudently. Meanwhile, Musukwa says Konkola Copper Mines (KCM’s) operational performance has improved...

THE annual rate of inflation has marginally decreased to 15.5 per cent in August, down from 15.8 per cent recorded in July, mainly induced by price decreases in food items, according to the Zambia Statistics Agency (ZSA). Announcing Zambia’s annual rate of inflation for the month of August, ZSA Interim Statistician General Mulenga Musepa said...

A CONSORTIUM of Civil Societies Organisations (CSOs) have predicted negative ripple effects to Zambia’s economy following the dismissal of Bank of Zambia (BoZ) governor Dr Denny Kalyaya. The CSOs which included ActionAid Zambia, Centre for Trade Policy and Development (CTPD) and Transparency International Zambia (TIZ), among others, warned that Dr Kalyaya’s abrupt dismissal would result...

DR Denny Kalyalya’s dismissal is likely to trigger a sharp kwacha depreciation because there will be a severe lack of confidence in the country’s economy, says financial market analyst Maambo Hamaundu. President Edgar Lungu sacked the highly-respected BoZ governor, Saturday, in an abrupt announcement, replacing him with Deputy Secretary to the Cabinet, Finance and Economic...

COPPERBELT Energy Corporation Plc (CEC) has posted losses of nearly US $32.5 million in its half-year period ending June 30, 2020, mainly triggered by Konkola Copper Mines’ failure to settle its outstanding debt owed to the former. According to its unaudited financial results for the period ending June 30, CEC announced that it incurred losses...

UPND chairman for economy and finance Dr Situmbeko Musokotwane says no positive change will come to Zambia’s economy if the country’s debt problem is not resolved. And Dr Musokotwane has insisted that the Bank of Zambia (BoZ) needs to be led by professional and competent technocrats who can solve the country’s huge indebtedness. Speaking when...

COMMERCE Minister Christopher Yaluma has fired Zambia Development Agency (ZDA) Board Chairperson Fisho Mwale with immediate effect for unknown reasons. Confirming the development in a brief interview, Monday, Mwale, who is also a Yalelo Limited director, said he was no longer the ZDA board chair after having his contract of employment terminated. “It is true....

THE impasse between the Copperbelt Energy Corporation (CEC) and Zesco Limited has reduced investor confidence and will negatively impact much-needed Foreign Direct Investment (FDI) inflows into Zambia’s energy sector, says Public Financial Management Consult senior economist Bright Chizonde. And Chizonde says that the Ministry of Energy has failed to provide clear policy guidance to provide...