Business

Govt could fail to service Zambia’s debt – Saasa
By Ulande Nkomesha on 19 Feb 2020
GOVERNMENT is likely to end up refinancing Zambia’s huge public debt because of the possibility of failing to service repayments when they fall due, says....
It’s an offence for mines not to produce according to their mine plans – Musukwa
By Natasha Sakala on 18 Feb 2020
MINES and Mineral Resources Minister Richard Musukwa has cautioned mining companies against under-declaring their production, saying doing so is an offence. And Musukwa has called....
Zambia may not achieve Vision 2030 at the projected growth rates – ZTP
By Ulande Nkomesha on 17 Feb 2020
The Zambia Tax Platform ZTP says Finance Minister Dr Bwalya Ng’andu’s update on the country’s expected growth rates shows that Zambia will not achieve its....
IMF demand for debt sustainability is like having an umbrella after the rains – Ng’andu
By Ulande Nkomesha on 15 Feb 2020
Finance Minister Dr Bwalya Ng’andu says the country’s external debt has risen to $11.2 billion from the $10.23 billion as at end of December 2019.....
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Vedanta must accept KCM loss, new investor coming to take over – Musukwa
By Natasha Sakala on 12 Feb 2020
MINES and Mineral Resources Minister Richard Musukwa says Vedanta must accept the loss of KCM and move on because he has already instructed Provisional Liquidator....
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We’re still consulting on 30 Ngwee internet calling tariff, says ZICTA
By Ulande Nkomesha on 12 Feb 2020
Zambia Information and Communications Technology Authority (ZICTA) Director General Patrick Mutimushi says the authority is still liaising with the line Ministry on the implementation of....
We’ll consider doing away with loss making SOEs – Ng’andu
By Tenson Mkhala on 12 Feb 2020
Finance Minister Dr Bwalya Nga’ndu says government will consider doing away with State Owned Enterprises that are in perpetual position of loss making and are....
Mopani refutes reports it that transferred procurement function to SA
By Natasha Sakala on 12 Feb 2020
Mopani Copper Mines has refuted reports that the company’s procurement function has been moved to South Africa. In a statement, Monday, MCM public relations manager....
Govt failing to target resources to key sectors for economic growth – Saasa
By Joseph Mwenda on 10 Feb 2020
African countries such as Zambia are failing to grow their economies to fulfil their potential because governments are poorly targeting the available resources to key....
The poor are rising against the rich due to inequality in Zambia – CARITAS
By Natasha Sakala on 10 Feb 2020
CARITAS Zambia executive director Eugene Kabilika says that government’s failure to reduce inequalities in the country is leading the poor to rise up against the....
SPAR announces Arcades outlet closure
By Natasha Sakala on 6 Feb 2020
SPAR Zambia limited country manager Ken Darby has announced the closure of SPAR Arcades owing to non-viability of the business. In a notice to suppliers,....
Coronavirus threatens trade between Zambia and China – ZACCI
By Natasha Sakala on 6 Feb 2020
The Zambia Association of Chambers of Commerce and Industry (ZACCI) says the continued spread of the deadly Coronavirus has the potential to reduce trade between....
Reduced imports a sign of subdued business climate, says economist
By Natasha Sakala on 6 Feb 2020
Zambia’s trade surplus of K422 million in December, 2019 owing to reduced imports is a sign of a subdued business climate, says economist Trevor Hambayi.....
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Zambia’s investment climate remains conducive, Kampyongo assures FQM
By Julia Malunga on 6 Feb 2020
Home Affairs Minister Stephen Kampyongo says it is key for investors and government to find a proper communication strategy to avoid acrimony. And Kampyongo has....
ZIPAR forecasts higher inflation
By Ulande Nkomesha on 5 Feb 2020
Zambia’s annual rate of inflation should be expected to continue escalating on the back of government’s continued external debt servicing, which is anticipated to exert....
Mining, construction companies still seeking insurance abroad – PIA
By Stuart Lisulo on 5 Feb 2020
Large corporations in the mining and the construction sectors are still sourcing insurance services from abroad and violating the law, says the Pensions and Insurance....
Stanbic sets new industry record with K450m after tax 2019 profit
By Natasha Sakala on 3 Feb 2020
Stanbic Bank Zambia has recorded a profit after tax of K450 million, making 2019 an outstanding year with a year-on-year growth of 95.7 per cent,....
Zambia records K422m trade surplus
By Natasha Sakala on 3 Feb 2020
Zambia has recorded a trade surplus of K422 million, an increase by 273.8 per cent between November and December, 2019, the fifth highest of last....

Inflation rises to 12.5%

By Stuart Lisulo on 2 Feb 2020

The annual rate of inflation has jumped to 12.5 per cent in January, up from 11.7 per cent recorded in December, the highest on record....

Vedanta warns Milingo against defying court order, selling mine assets

By Diggers Reporter on 29 Jan 2020

Vedanta says it still remains committed to seeking resolution through dialogue and constructive engagement with the Government of Zambia and ZCCM-IH, despite the ongoing court....

High mealie meal prices will persist – IAPRI

By Stuart Lisulo on 23 Jan 2020

Mealie meal prices are likely to remain high this year until the main maize harvest period in May, says the Indaba Agricultural Policy Research Institute....

Govt must be transparent in gold mining ventures – CTPD

By Stuart Lisulo on 23 Jan 2020

Government must endeavour to be transparent and consultative in its new gold mining ventures being spearheaded by ZCCM-IH for all stakeholders to clearly understand their....

Chamber of Mines forecasts surge in copper prices

By Natasha Sakala on 20 Jan 2020

Zambia Chamber of Mines president Goodwell Mateyo has projected a rise in the price of copper this year following the calming down of the trade....

SAA confirms sale of nine aircraft

By Stuart Lisulo on 20 Jan 2020

South African Airways (SAA) has put some of its aircraft up for sale to accommodate the new Airbus A350-900s the airline recently added to its....

Kwacha to average K14.40/dollar in short-term

By Stuart Lisulo on 16 Jan 2020

The kwacha is expected to remain under pressure, depreciating against major currency convertibles, to end the mid-way point of this month at around K14.40 per....

ZCCM-IH’s profits drop by 47%

By Stuart Lisulo on 15 Jan 2020

ZCCM-IH posted reduced profits after tax of K448 million during its financial year ending March 31, 2019, triggered by reduced dividends paid by Kansanshi Mining....

ZRA’s planned Digital Tax Stamp worries ZAM

By Ulande Nkomesha on 13 Jan 2020

The Zambia Association of Manufacturers (ZAM) says the Zambia Revenue Authority’s decision to start implementing the Digital Tax Stamp (DTS) to enhance tax compliance on....

Barclays Zambia targets Feb 10 for complete transition to Absa

By Natasha Sakala on 12 Jan 2020

Barclays Bank Zambia Plc says it will complete its re-branding process to Absa Bank Zambia Plc by next month. During a press briefing in Lusaka,....

Kayula questions NCZ’s capacity to meet fertilizer output targets

By Ulande Nkomesha on 9 Jan 2020

KRI chief executive officer Dr Frank Kayula says government should consider dismissing management at Nitrogen Chemicals of Zambia (NCZ) if they have failed to meet....

CSO-SUN tips ZNS to focus on crop diversification in land cultivation scheme

By Ulande Nkomesha on 7 Jan 2020

The Civil Society Scaling-Up Nutrition (CSO-SUN) Alliance has hailed Zambia National Service (ZNS) Commandant Lieutenant General Nathan Mulenga’s directive to open up more land for....

Absa appoints Mminele as new CEO

By Stuart Lisulo on 7 Jan 2020

Absa Group Limited, Barclays Bank Zambia’s parent company, has announced the appointment of Aaron Daniel Mminele as its new Group Chief Executive effective January 15,....

ZACCI calls for competition in cement industry to lower prices

By Natasha Sakala on 6 Jan 2020

Zambia Chambers of Commerce and Industry (ZACCI) president Chabuka Kawesha called for increased private sector participation in the cement industry to raise competition that will....

Allowing private actors in energy sector will force Zesco to be professional – Milupi

By Natasha Sakala on 3 Jan 2020

Alliance for Democracy and Development (ADD) president Charles Milupi says allowing private sector participation in energy production and distribution will force Zesco to operate more....

Non-performing loans were banks’ major challenge in 2019, says BAZ

By Natasha Sakala on 2 Jan 2020

The Bankers Association of Zambia (BAZ) says non-performing loans were a major challenge for the sector in 2019 despite improving to 9.1 per cent from....

FNB forecasts higher inflation in 2020

By Stuart Lisulo on 2 Jan 2020

Zambia’s annual rate of inflation is expected to remain in double-digits this year owing to the hiked electricity tariffs and fuel pump prices, says FNB....

Kwacha closes 2019 at K14 per dollar

By Stuart Lisulo on 2 Jan 2020

The kwacha has resumed its depreciating trend against major currency convertibles, closing 2019 at K14 per dollar owing to a sustained high demand for the....

AfDB sanctions over $1.4m debt gives an impression that govt is so broke – Kanyama

By Ulande Nkomesha on 26 Dec 2019

Economist Chibamba Kanyama says the African Development Bank’s sanctions on Zambia have dented the country’s reputation. The African Development Bank (AfDB) has imposed sanctions on....

Zambia under sanctions, as govt admits defaulting loan repayment

By Stuart Lisulo on 25 Dec 2019

The African Development Bank (AfDB) has put Zambia under sanctions for failing to repay its loans contracted to implement various developmental programmes, according to the....