INCOMING US President Joe Biden will have the unenviable task of rebuilding America’s battered image in the eyes of the world once he takes over from outgoing President Donald Trump, says veteran politician and diplomat Vernon Mwaanga. Commenting on the scenes of mayhem that rocked Capitol Hill in Washington, D.C., where President Trump’s supporters besieged...

KONKOLA Copper Mines (KCM) Provisional Liquidator Milingo Lungu has insisted that his decision to split the mining company is legal and within his powers. Last week, KCM acting chief executive officer Enock Mponda announced that Milingo had decided to reorganise and restructure KCM into two subsidiary companies, namely KCM SmelterCo Limited, and Konkola Mineral Resources...

LAWRENCE Sikutwa & Associates Limited (LSA) and ZFI Holdings Limited (ZFI), the two largest shareholders in Madison Financial Services (MFS), have separately executed Share Purchase Agreements (SPAs) with XYLEM Trading (Pty) Limited (XTL), relinquishing their combined 72.05 per cent shareholding in the insurance giant. According to a market announcement, LSA and ZFI, a private limited...

THE Bank of Zambia (BoZ) has commenced accumulation of gold as part of the official international reserves assets following the purchase of 47 kilogrammes of Dore gold from Zambia Gold Company Limited. In a statement, Tuesday, the BoZ announced that following its formal commencement of gold purchases, it was now expecting Kansanshi Mining Company Plc,...

THE annual rate of inflation has again increased to 19.2 per cent in December, up from 17.4 per cent recorded in November, mainly induced by huge price increases in food items, the highest on record since August, 2016, according to the Zambia Statistics Agency (ZSA). Announcing Zambia’s annual rate of inflation for the month of...

THE Copperbelt Energy Corporation Plc (CEC) says it remains hopeful that a quick solution can be found for Konkola Copper Mines (KCM) to dismantle its outstanding US $150 million debt owed to the former to ease the heightened level of uncertainty. And CEC says it is upbeat that increased copper prices on the international market,...

THE Zambia National Building Society (ZNBS) has posted a profit after tax of over K27.3 million during its financial year period ending March 31, 2020, mainly boosted by higher interest income According to its audited results for its financial year ending March 31, 2020, ZNBS’ profits soared to around K27.27 million during the period under...

THE International Monetary Fund (IMF) says it is currently assessing a request from the Zambian government for a bailout package expected to help with the country’s reform process. An IMF team that is visiting the country following Zambia’s request for assistance has since met President Edgar Lungu and other top government officials as part of...

THE Copperbelt Energy Corporation Plc has declared a dividend to its shareholders amounting to 2.1 US cents per share for the 2020 financial year following an improved financial performance during the second-half of this year. According to an interim dividend notice released, Wednesday, CEC announced that it had declared a dividend of 2.1 US cents...

THE Energy Regulation Board (ERB) has announced that an investigation into the alleged unusual and unexplained depletion of electricity units on Zesco Limited’s prepaid metres have found nothing irregular as the devices meet the required specifications. In a statement, Thursday, ERB public relations manager Kwali Mfuni announced that investigations into the alleged unusual and unexplained...