Business

Zambezi Portland Cement shareholding wrangle in new twist
By Martin Musunka on 19 Feb 2019
The shareholding wrangle in the Zambezi Portland Cement (ZPC) saga has taken a different twist with the rejection of Phesto Musonda as interim joint chief....
ZEMA extends grace period for shopping plastic bag usage
By Thomas Mulenga on 19 Feb 2019
The Zambia Environmental Management Agency (ZEMA) has extended the grace period for usage of plastic carrier bags granted to selected chain stores that had applied....
Agro dealers plead with govt to release outstanding monies
By Zindikilani Banda in Sinda on 19 Feb 2019
Sinda agro dealers say government’s delayed payment to activate farming inputs through the electronic voucher system has contributed towards their failure to supply farmers on....
Mundende reshuffles Zesco directors
By Sipilisiwe Ncube on 18 Feb 2019
Returning from local leave, Zesco managing director Victor Mundende has made staff reshuffles and appointments at various levels within the utility. The Zesco boss went....
KCM hasn’t complied with business improvement plan – Musukwa
By Zondiwe Mbewe on 18 Feb 2019
Mines Minister Richard Musukwa has revealed that Konkola Copper Mines (KCM) has failed to comply with a Business Improvement Plan it pledged to fulfil with....
Business activity in January remained subdued – Stanbic
By Milimo Namangala on 18 Feb 2019
The Zambian economy continued to be characterised by decreased business activity in January, 2019, mainly attributed to slow sales and lack of money in circulation,....
1

2019 mining tax regime won’t lead to increased revenues – HH
By Zondiwe Mbewe on 15 Feb 2019
UPND president Hakainde Hichilema says the 2019 mining fiscal regime needs to be revised because government will fail to raise their targeted revenues from a....
Climate change has costs Zambia US$4 billion – UNDP
By John Chola on 15 Feb 2019
The United Nations Development Programme (UNDP) says Zambia has been estimated to have lost US $4 billion in the last 10 years from the effects....
Zambia lacks data on forestry sub-sector – Chiteme
By Tenson Mkhala on 14 Feb 2019
National Development and Planning Minister Alexander Chiteme says there are still inherent weaknesses in the agricultural statistical information system in Zambia. And Chiteme has disclosed....
China contributed highest number of jobs to Zambia in 2017 – BoZ
By Stuart Lisulo on 13 Feb 2019
China was the highest contributor to employment among all the Majority Owned Foreign Affiliates in Zambia (MOFAs) by the end of 2017, Bank of Zambia....
DfID-PEP Zambia dungles K61m for SMEs in 2019
By Claver Mutinta in Solwezi on 13 Feb 2019
The Department for International Development (DfID) flagship on business programme, Private Enterprise Programme (PEP), says over K61 million has been set aside to facilitate and....
Mwanakatwe’s regular data disclosure strengthening kwacha, notes Chibamba
By Diggers Correspondent on 11 Feb 2019
The kwacha is starting to appreciate partly owing to Finance Minister Margaret Mwanakatwe’s regular disclosure of market sensitive information in a timely manner, says economist....
Grain traders project 2.6 million tonnes maize production
By Milimo Namangala on 11 Feb 2019
The Grain Traders’ Association of Zambia (GTAZ) says Zambia is expected to record at least 2.6 million metric tonnes of maize this year despite the....
PIA cautions public against dealing with unlicensed insurers
By Geofrey Zulu on 11 Feb 2019
The Pensions and Insurance Authority (PIA) has cautioned members of the public to only deal with licensed insurance players to safeguard and protect their interests.....
StanChart profit soars to K267m
By Stuart Lisulo on 11 Feb 2019
Standard Chartered Bank earned a net profit after tax of over K267 million, beating the competition for the highly-vetted number one position in the market....
E-voucher a fraud because it helps criminals thrive, charges Sinkamba
By Sipilisiwe Ncube on 8 Feb 2019
Green Party leader Peter Sinkamba says the current mode of supplying fertilizer to farmers using agro-dealers under the electronic voucher system has proven to be....
Mwanakatwe targets IMF bailout package this year
By Stuart Lisulo on 8 Feb 2019
Finance Minister Margaret Mwanakatwe says she is targeting to secure an International Monetary Fund (IMF) economic bailout package by the end of this year. According....
S/Africa’s rand gains against kwacha
By Stuart Lisulo on 8 Feb 2019
The kwacha has depreciated against the South African rand to breach the K0.90 per rand for the first time since November, 2015. And financial market....

Zambezi Portland Cement awaits K580m payment from Finsbury

By Martin Musunka on 8 Feb 2019

Zambezi Portland Cement (ZPC) management has noted the shareholding verdict by the Court of Appeal, but will only comply with the decision if Finsbury Investments....

Zambia Airways appoints Ethiopian CEO

By Stuart Lisulo on 7 Feb 2019

Zambia Airways Limited has appointed Ethiopian national Bruk Endeshaw Abebe as the company’s inaugural chief executive officer effective immediately. In a statement availed by acting....

Musukwa, Mwanakatwe clash over 2019 mining fiscal regime

By Mirriam Chabala on 7 Feb 2019

Mines Minister Richard Musukwa has hinted that government may make temporary rebates to some mining companies over the disputed 2019 fiscal regime if they show....

New mine tax regime may negatively affect mining houses – FQM boss

By Mirriam Chabala on 6 Feb 2019

First Quantum Minerals (FQM) director Philip Pascal has expressed concern that the mining industry will be adversely affected by the recent tax changes because of....

FQM offers to buy govt’s 20% shares in Kansanshi Mine for $700m

By Stuart Lisulo on 6 Feb 2019

First Quantum Minerals Limited (FQML) has offered the Zambian government US$700 million to buy off the latter’s 20 per cent stake in its subsidiary Kansanshi....

Mining tax hike won’t affect investment – Musukwa

By Thomas Mulenga on 5 Feb 2019

Mines Minister Richard Musukwa says Zambia remains a stable and attractive investment destination for mining and other economic sectors. And Musukwa has dismissed assertions that....

Chinsali agro-dealer fled with 600 beneficiaries’ deposits – Katambo

By Sipilisiwe Ncube on 4 Feb 2019

An agro-dealer in Chinsali bolted with about 600 beneficiaries’ deposits under the Farmer Input Support Programme (FISP), Agriculture Minister Michael Katambo has revealed. And Katambo....

Inflation remains at 7.9%

By Stuart Lisulo on 1 Feb 2019

The annual rate of inflation has remained at 7.9 per cent for January, 2019, with food and non-alcoholic beverages accounting for 4.3 per cent, according....

ZCCM-IH hopes 2019 fiscal regime won’t hurt profitability

By Stuart Lisulo on 31 Jan 2019

ZCCM-IH says the uncertainty in the 2019 mining fiscal regime may affect its profitability and dividends payable to government. And ZCCM-IH has increased its shareholding....

Zambia’s copper production rises to 861,946 tonnes in 2018

By Stuart Lisulo on 31 Jan 2019

Zambia has recorded a marginal increase in its copper production for 2018 to around 861,946 metric tonnes from 799,329 tonnes recorded in 2017, boosted by....

KCM won’t cut jobs, assures Acting CEO

By Stuart Lisulo on 30 Jan 2019

Konkola Copper Mines (KCM) has announced that the 2019 mining fiscal regime will not lead to any job losses at any of its operations. In....

Mines still need to justify job cuts – Chanda

By Stuart Lisulo on 29 Jan 2019

Ministry of Mines Permanent Secretary Paul Chanda says some mining companies are yet to submit their financial models explaining how the 2019 mining fiscal regime....

IMF bailout package isn’t guaranteed, cautions ZIPAR

By Milimo Namangala on 29 Jan 2019

The forthcoming International Monetary Fund (IMF) visit to Zambia does not imply that a Fund-backed programme will be actualized because the Zambian government still has....

ZNFU asks govt to intensify fight against army worms

By Mirriam Chabala on 29 Jan 2019

The Zambia National Farmers Union (ZNFU) has called for closer collaboration with government in sensitizing farmers whose fields had been affected by the fall army....

Sales Tax will kill Zambia’s economy, warns tax expert

By Stuart Lisulo on 28 Jan 2019

Government’s insistence to implement Sales Tax this April will kill Zambia’s already stressed economy, a certified fraud examiner and tax expert has warned. In a....

FQM hits 605,000 tonnes in copper production

By Stuart Lisulo on 28 Jan 2019

First Quantum Minerals Limited (FQML) hit a record-breaking 605,853 metric tonnes in copper production last year, preliminary data shows. According to a news release issued....

FQM’s Sentinel ‘illegal work stoppage’ ends

By Stuart Lisulo on 28 Jan 2019

First Quantum Minerals’ (FQM) Sentinel Copper Mine in Kalumbila District was disrupted by a work stoppage on Friday and Saturday on suggestions that conditions of....

Bwana Mkubwa MP, Ndola council petition ban of Power SX’ energy drink

By Thomas Mulenga in Lusaka and Daniel Chansa in Ndola on 24 Jan 2019

Bwana Mkubwa member of parliament Dr Jonas Chanda says 56 people have lost their jobs at Revin Zambia Limited after the Zambia Bureau of Standers....

Mopani’s decision to preserve jobs elates EAZ

By Abraham Kalito on 23 Jan 2019

Economics Association of Zambia (EAZ) national secretary Mutisunge Zulu has commended Mopani Copper Mine for preserving jobs in the wake of the introduction of 2019....

FQM calls for education sector reforms to boost human capital

By Claver Mutinta on 23 Jan 2019

First Quantum Minerals (FQM) says Zambia needs an education system driven by innovation, creativity and integrity to build the country’s human capital and achieve its....