THE annual rate of inflation has decreased to 15.9 per cent in June, down from 16.6 per cent recorded in May, mainly triggered by price decreases in food items, according to the Zambia Statistics Agency (ZSA). Announcing Zambia’s annual rate of inflation for the month of June, ZSA Interim Statistician General Mulenga Musepa said that...

MINING companies’ revenues in Zambia have drastically fallen by around 30 per cent over the three-month period, February-April 2020, mainly triggered by the deep impact the COVID-19 pandemic has had on slashing copper earnings. According to Zambia Chamber of Mines data, the COVID-19 virus has cut Zambian mining companies’ copper sales as a result of...

LAZARD Freres, the French firm government has appointed to provide advisory services in relation to Zambia’s debt management, should be trusted because the company has a long track-record at successfully negotiating sovereign debt, says economic statistician Shebo Nalishebo. Commenting on the Ministry of Finance’s decision to award a US $5 million tender to Lazard Freres...

THE annual rate of inflation has risen to 16.6 per cent in May, up from 15.7 per cent recorded in April, the highest on record since September, 2016, according to the Zambia Statistics Agency (ZSA). Announcing Zambia’s annual rate of inflation for the month of May, ZSA Interim Statistician General Mulenga Musepa said that the...

BANK of Zambia (BoZ) governor Dr Denny Kalyalya says the K10 billion Medium-Term Loan Refinancing Facility has a strict eligibility criterion because it is targeted at those who can pay back the money. Meanwhile, Zambia’s international gross reserves have continued falling to record lows of US $1.39 billion, representing just two months of import cover,...

THE Business Coalition Council Emergency Taskforce (BCCET), a group of business interest groups focused on initiatives that will help minimize the COVID-19 pandemic impact in Zambia, has reconstituted its steering board of governors to be headed by economist Professor Oliver Saasa. According to a press release availed by BCCET vice-chair, media, Martin Musunka, Prof Saasa,...

ZAMBEEF Products Plc says it has signed an agreement with Chisamba Ranching and Cropping Limited, a company its former joint-chief executive officer Francis Grogan holds a 50 per cent shareholding, to supply the former approximately 1,480 heads of cattle worth over K7.8 million for 2020. In a statement availed by sponsoring broker Pangaea Securities Limited,...

PHASE one of the Consolidated Gold Company Limited (CGCZ) gold processing project in Rufunsa District has commenced, which will see the establishment of 10 milling plants to produce an average of 7.5Kg of gold per month. In a statement, Wednesday, ZCCM-IH public relations manager Loisa Mbatha-Kakoma announced that the establishment of the CGCZ gold processing...

THE Ministry of Finance has ordered that all government entities must submit income and expenditure returns on all COVID-19 funds received from the Treasury by 5th of every month to the Office of the Accountant General. And Secretary to the Treasury Fredson Yamba has advised all companies, individuals wishing to donate COVID-19-related funds to deposit...

FUEL prices in Zambia will not be reduced despite falling oil prices on the international market because the kwacha’s rapid depreciation against major currency convertibles has negated any potential reduction, says the Energy Regulation Board (ERB). Brent Crude Oil prices on the international market have dropped to a five-year low to reach US $20.37 per...