THE total number of active mobile network subscriptions in Zambia has increased to 17.9 million as at June 30, 2020, an all-time high, exceeding the country’s population, according to ZICTA. And ZICTA says the value of electronic money transactions skyrocketed to hit K43 billion by the half-year period, up from K18.9 billion during the same...

LAFARGE Zambia Plc has posted losses of over K12.3 million during its financial half-year period ending June 30, 2020, mainly induced by increased production costs and a devalued kwacha. And the cement company says it will continue to focus on developing the export market to sustain its growth as the domestic market remains substantially oversupplied...

BONANZA Resort general manager Adrian Penny says the resort is targeting to raise standards in Zambia’s tourism and hospitality industry by offering world-class facilities, which will reposition the country to being the preferred international destination in the region. Speaking during a media tour of the facility in Lusaka, Thursday, Penny said the resort was targeting...

ZAMBIAN Breweries Plc has posted huge losses of nearly K15.5 million in its half-year period ending June 30, 2020, mainly triggered by the kwacha’s rapid depreciation against major currency convertibles, which increased the company’s debt portfolio and hiked production costs. But the company says it remains well-positioned for a strong recovery given its positive cash...

THE Mine Workers’ Union of Zambia (MUZ) says government’s intention to buy 90 per cent shares in Mopani Copper Mines from Glencore will redeem the mine’s operations. In an interview, MUZ president Joseph Chewe hailed government’s recent announcement of its intention to acquire Glencore’s 90 per cent shareholding in Mopani, saying the move will help...

FORMER finance minister Dr Situmbeko Musokotwane says Zambians should brace themselves for harsher economic times as the local currency is expected to depreciate further against other convertibles. And Dr Musokotwane says the 2021 National Budget will be rendered useless if government does not engage the International Monetary Fund (IMF). In an interview, Dr Musokotwane said...

THE Jesuit Centre for Theological Reflection (JCTR) has called on the Ministry of Finance to ensure a pro-poor budget for 2021 is implemented to address the skyrocketing cost of living in Zambia And JCTR says the cost of living for the mouth of August, 2020, stood at K7,178.22, reflecting a marginal reduction of K26.02 from...

THE Bank of Zambia (BoZ) has so far disbursed nearly K1.75 billion out of the K10 billion Medium-Term Refinancing Facility, with Atlas Mara Bank receiving the highest amount of any financial institution of K533 million. In a status update on the K10 billion Refinancing Facility as at September 4, 2020, BoZ revealed that around K1.75...

FINANCE Minister Dr Bwalya Ng’andu is expected to deliver the 2021 national budget on September 25, 2020, following the just-ended budgetary consultative process. This is according to a statement issued by Ministry of Finance spokesperson Chileshe Kandeta, Thursday. “According to Part XVI, Article 202 (1) and (3), of Constitution of Zambia (2016), the Minister of...

ZICTA has fined all three mobile network operators with K5.4 million for failure to provide quality service to its subscribers, with Airtel being the worst culprit and slapped with the highest fine of K4.8 million. In a statement issued by ZICTA corporate communications manager Ngabo Nankonde, Thursday, the authority fined Airtel Zambia with K4.8 million,...