Business

Mealie meal prices slowly dropping – MAZ
By Sipilisiwe Ncube on 10 Oct 2019
Millers Association of Zambia (MAZ) president Andrew Chintala says millers have started reducing mealie meal prices after government assured them that there is still enough....
Absa must be ready to face tough questions – Kalyalya
By Natasha Sakala on 9 Oct 2019
Bank of Zambia (BoZ) governor Dr Denny Kalyalya has urged the Absa group not to take personal, tough questions that will be asked by the....
Explosion at KCM sets fire to Cobalt Recovery Furnace, no fatalities recorded
By Natasha Sakala on 9 Oct 2019
An explosion at Konkola Copper Mines this morning set fire to the Cobalt Recovery Furnace, which is part of the Smelter, causing damage to property,....
ZNFU backs govt’s maize export deal with DRC
By Julia Malunga on 9 Oct 2019
Zambia National Farmers’ Union (ZNFU) media and public relations manager Calvin Kaleyi has backed government’s move to export maize to the Democratic Republic of Congo,....
Govt lobbies IMF for resident rep to speed up bailout talks
By Natasha Sakala on 8 Oct 2019
The Ministry of Finance has said it is currently in talks with the International Monetary Fund (IMF) on the possibility of having a resident representative....
Allow mines to import power, urges Chamber
By Natasha Sakala on 8 Oct 2019
Government must allow mining companies to import their own power by issuing a required license to help cushion the country’s ongoing power deficit, says the....
MTN appoints Hofker as new CEO, replacing van Dalsen
By Stuart Lisulo on 8 Oct 2019
MTN Zambia have announced the appointment of its new chief executive officer Bart Hofker effective October 1, 2019, following former CEO Philip van Dalsen’s resignation....
1

Mopani in major reshuffles as Glencore shakes up operations
By Martin Musunka on 7 Oct 2019
Glencore Plc, a British–Swiss multinational commodity trading and mining company, is massively restructuring its Zambian subsidiary, Mopani Copper Mines Plc, with the termination of acting....
7

Prof Saasa is just a hungry man masquerading as an economist, charges ZRA boss
By Sipilisiwe Ncube on 4 Oct 2019
Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda says he is disappointed by Professor Oliver Saasa’s “petty stance” in his argument on the impact of....
2020 budget focussed on tax collection, not growth – CTPD
By Natasha Sakala on 4 Oct 2019
Centre for Trade Policy and Development (CTPD) executive director Isaac Mwaipopo has observed that the 2020 budget is focused more on tax collection as opposed....
Chamber of Commerce bemoans fuel price hike, load shedding, Kwacha depreciation
By Ulande Nkomesha on 3 Oct 2019
Zambia Chamber of Commerce and Industry (ZACCL) says the business community is concerned with the numerous challenges being experienced in the national economy. In response....
Melu assures of no job losses as Barclays rebrands to Absa
By Natasha Sakala on 3 Oct 2019
Barclays Bank Zambia managing director Mizinga Melu says the bank is expected to complete the transition from Barclays to Absa by June 2020. And Melu....
Cut public workers’ allowances to the bone, Saasa urges govt
By Natasha Sakala on 3 Oct 2019
Economist Professor Oliver Saasa has advised government to cut allowances for public workers to reduce the huge expenditure on emoluments. And Prof Saasa says retaining....
We’ll not hold on to VAT Refunds, mines need liquidity – Ng’andu
By Sipilisiwe Ncube on 2 Oct 2019
Finance Minister Dr Bwalya Ng’andu says mining companies should not worry about getting their VAT Refunds because he understands that businesses need liquidity to do....
2

Allow mines to import their own power, urges Msokotwane
By Natasha Sakala on 2 Oct 2019
Liuwa UPND member of parliament Dr Situmbeko Musokotwane has urged Zesco to allow the mines import their own power in order to cushion the deficit....
Zambia walking a tight rope – PwC
By Natasha Sakala on 2 Oct 2019
Pricewaterhouse Coopers (PwC) says the country is walking a tight rope with its huge debts, public sector wage bill and effects of climate change on....
Zambia’s hunger crisis will worsen, fears CSPR
By Ulande Nkomesha on 1 Oct 2019
The Civil Society for Poverty Reduction (CSPR) says Zambia’s hunger situation could worsen as the country enters the forthcoming rainy season because farmers have not....
Govt has set aside funds for DBZ restructuring – Lungu
By Sipilisiwe Ncube on 1 Oct 2019
President Edgar Lungu says government has set aside funds to restructure the Development Bank of Zambia (DBZ) as well as for supporting the sub-regional Centre’s....

Chamber of Mines lauds govt for withdrawing Sales Tax

By Sipilisiwe Ncube on 1 Oct 2019

Zambia Chamber of Mines president Goodwill Mateyo has commended government for realizing the devastating effects of the Goods and Services Tax (GST) had it been....

I scrapped sales tax because I felt I didn’t own it – Ng’andu

By Natasha Sakala on 1 Oct 2019

Finance Minister Dr Bwalya Ng’andu has disclosed that his decision to discard the Goods and Services Tax (GST) proposed by his predecessor Margaret Mwanakatwe was....

Double-digit inflation will raise cost of living – ZIPAR

By Ulande Nkomesha on 1 Oct 2019

Zambia’s escalating annual rate of inflation to 10.5 per cent in the month of September will continue to lead to increased cost of living, which....

Govt to unveil K91bn 2020 budget

By Natasha Sakala on 27 Sep 2019

Government is expected to roll out a K91 billion national budget next year, representing 27.5 per cent of Gross Domestic Product (GDP), to be supported....

FQM dismisses China’s Jiangxi takeover bid speculation

By Diggers Correspondent on 26 Sep 2019

First Quantum Minerals (FQM) has dismissed assertions that it is engaged in discussions for a takeover bid or other change of control transaction with Jiangxi....

2020 budget likely to reflect increased public debt, says Kanyama

By Ulande Nkomesha on 26 Sep 2019

Economist Chibamba Kanyama says he expects an increase in the amount of public debt reflected in the 2020 national budget given the rising number of....

Hiked electricity tariffs, power import may not reduce load shedding – Zesco

By Natasha Sakala on 25 Sep 2019

Zesco Limited acting managing director Webster Musonda says consumers should not expect a reduction in the number of load shedding hours despite the imminent importation....

It’s ridiculous for Zambia to export maize to Congo which it doesn’t have – Kazabu

By Ulande Nkomesha on 25 Sep 2019

Former agriculture and livestock deputy minister Lackson Kazabu says it is ridiculous for Zambia to start exporting maize to neighboring Democratic Republic of Congo (DRC)....

Mineworkers union, local contractors hail Milingo for keeping KCM ‘afloat’

By Stuart Lisulo and Ulande Nkomesha on 24 Sep 2019

Konkola Copper Mines (KCM) Plc has continued to meet their financial obligations in a timely manner, even under the current difficult circumstances, says the Association....

Prof Saasa gives Ng’andu tips on 2020 budget

By Mirriam Chabala on 24 Sep 2019

Economist Professor Oliver Saasa says Finance Minister Dr Bwalya Ng’andu must openly acknowledge that Zambia’s debt has now reached “unimaginable proportions” and outline how it....

ZRA nabs truck smuggling Konyagi worth K730,000

By Ulande Nkomesha on 24 Sep 2019

The Zambia Revenue Authority (ZRA) has seized a truckload of Konyagi alcohol, which was deliberately misclassified as building materials with intent to defraud the State....

Don’t blame climate change for everything, the effects are partial – UNZA lecturer

By Sipilisiwe Ncube on 24 Sep 2019

UNZA lecturer Dr Mulenga Kabwe says the climate change currently being experienced in Zambia should not be blamed for putting the country in the dire....

Fuel prices go up

By Natasha Sakala on 24 Sep 2019

The government yesterday announced a five per cent fuel price hike effective midnight, with a litre of petrol now selling at K15.98 from K15.20. A....

Govt hikes fuel prices

By Natasha Sakala on 23 Sep 2019

The government has announced a five per cent fuel price hike effective effective midnight today. Energy Regulation Board (ERB) executive director Langiwe Lungu stated that....

PWYP advises govt to invest windfall earnings into sovereign wealth funds

By Stuart Lisulo on 23 Sep 2019

Publish What You Pay (PWYP) says it expects the 2020 national budget to explore strategies for investing windfall earnings into sovereign wealth funds as a....

20,000 mining jobs at risk due to sales tax, Chamber warns

By Stuart Lisulo on 19 Sep 2019

Implementing the Goods and Services Tax (GST) risks resulting in the loss of over 20,000 indirect jobs in the mining sector if government insists on....

Zambia plans maize exports to DRC

By Sipilisiwe Ncube on 19 Sep 2019

Agriculture Minister Michael Katambo says government is finalising a Memorandum of Understanding with the Democratic Republic of Congo (DRC) for exports of maize and other....

It’s illogical for companies that don’t pay dividends to bid for KCM – Mumba

By Julia Malunga on 17 Sep 2019

Chairperson of the select committee appointed to negotiate the sale of Konkola Copper Mines, Anthony Mumba says it surprises him to see some local Chinese....

Insolvent Vodafone Zambia announces sale

By Stuart Lisulo on 17 Sep 2019

Mobile Broadband Limited, trading as Vodafone Zambia, has announced a formal sale of the company following the inability by its shareholders to inject much-needed capital....

Zambia’s power deficit reaches 700MW, reveals energy minister

By Sipilisiwe Ncube on 15 Sep 2019

Minister of Energy Matthew Nkhuwa says the current power deficit in the country stands at 700 Mega Watts (MW) and has cautioned that government may....