ZESCO says it currently has to collect connection fees from five customers in order to connect one house, a situation the company says has been affecting procurement of materials. But a stakeholder, Hamunene, has expressed concern that once the power utility is allowed to increase connection fees, there will be wastage of resources through procurement...

THE Zambia Revenue Authority (ZRA) says contrary to public perceptions that the mining sector is not contributing to the country’s revenue, the sector was the largest contributor between January and August 2022 at 41.8 percent. And Bank of Zambia governor Dr Denny Kalyalya says the central bank is willing to ramp up its gold reserves,...

BRITISH High Commissioner to Zambia Nicholas Woolley has noted that there is a clear focus in the 2023 national budget on central reforms aimed at dealing with the debt situation. Meanwhile, Shiwang'andu member of parliament Stephen Kampyongo says the upward adjustment in fuel prices will be a burden on citizens. In an interview, High Commissioner...

BANK of Zambia Governor Dr Denny Kalyalya says there will be a bit of fluctuation in the inflation rate, but government's objective is to keep it within single digits. Recently, Zambia Statistics Agency Interim Statistician General Mulenga Musepa announced that annual rate of inflation increased by 0.1 percent for the month of September from 9.8...

THE Energy Regulation Board (ERB) has increased the prices of petroleum products by K1.20 Petrol and K3.04 for Diesel. ERB has, however, reduced the price of Kerosene by 65 ngwee for the month of October. ERB has also commenced full regulations of the retail price Jet A1 at airport and shall, going forward, determine applicable...

FINANCE and National Planning Minister Dr Situmbeko Musokotwane says the removal of tax waivers on Value Added Tax (VAT), Excise Duty and Customs (Import) Duty on petroleum products has been perfectly timed to ensure there is no spike in cost of goods and services. Tax waivers are expected to expire today, September 30, 2022. In...

THE annual rate of inflation has increased by 0.1 percent for the month of September from 9.8 percent in August to 9.9 in September. At a briefing, Thursday, Zambia Statistics Agency Interim Statistician General Mulenga Musepa said the increase in annual inflation was mainly attributed to the base effect in food items. "Annual inflation for...

ZESCO Managing Director Victor Mapani says the power utility company has seen an increase in trading activities on the Southern African Power Pool market trading platforms, from 119,043gwh of electricity in 2021 to 123,250gwh this year. And SAPP Executive Director Steven Dihwa has commended Zambia for trading its excess power through the SAPP market. In...

KONKOLA Copper Mines (KCM) Provisional Liquidator Celine Nair has announced the appointment of Rand Merchant Bank (RMB) as financial advisor, in the government’s on-going efforts to bring it back into full operation. Confirming the development in a statement, Wednesday, KCM General Manager Corporate Affairs Shapi Shachinda said RMB was selected out of 11 local and...

ECONOMIST Chibamba Kanyama says Cabinet's decision to approve the introduction of a Bill in Parliament aimed at amending the National Pension Scheme Act Chapter 256 of the Laws of Zambia is the best pronouncement of the year. On Monday, Cabinet approved the introduction of the NAPSA amendment Bill 2022 in Parliament, aimed at revising the...