Business

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Kwacha likely to depreciate further – Cavmont
By Stuart Lisulo on 25 Nov 2019
The Kwacha is likely to depreciate even further before the end of this year, falling to an average K14.50 per dollar, amidst strong demand for....
Interest rate hike looms as BAZ warns of banks’ cut back
By Stuart Lisulo on 22 Nov 2019
The Bankers’ Association of Zambia has warned that credit consumers should immediately expect a hike in interest rates on loan facilities following the central bank’s....
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Standard Chartered closes 5 branches
By Natasha Sakala on 18 Nov 2019
Standard Chartered Bank Zambia has announced the closure of five of its branches without stating any reasons. Standard Chartered stated that the Mongu, Kasama, Chililabombwe....
Load shedding, kwacha depreciation slashing business performance – BCI
By Ulande Nkomesha on 15 Nov 2019
Local businesses in Zambia have recorded a poor performance in the quarter of the third year of 2019 due to load shedding, the kwacha depreciation....
Kwacha hits 14 per dollar
By Natasha Sakala and Stuart Lisulo on 14 Nov 2019
The kwacha has depreciated to hit the K14.00 per dollar psychological barrier for the first time in six months, owing to a resumption in high....
Zambia remains at high risk of debt default – CTPD
By Natasha Sakala on 14 Nov 2019
Zambia is likely to refinance its first US $750 million Eurobond that falls due in less than three years’ time because the country remains at....
Village saving groups most inclusive mode of banking – FSDZ survey
By Natasha Sakala on 13 Nov 2019
Savings groups and “Chilimbas” are the most inclusive mode of banking in Zambia, a new Financial Sector Deepening Zambia (FSDZ) Report has revealed. The study....
Mine contractors upbeat about KCM’s improved financial capacity to dismantle debts
By Julia Malunga on 12 Nov 2019
Association of Mines Suppliers and Contractors (AMSC) president Augustine Mubanga says contractors are optimistic of getting their outstanding dues paid by Konkola Copper Mines (KCM)....
Mopani appoints Bullock as new CEO
By Stuart Lisulo on 11 Nov 2019
Mopani Copper Mines Plc has announced the appointment of its new chief executive officer, Nathan Bullock, who joins the company from BHP Olympic Dam Mine....
Govt shelved 2017 Cost of Service Study because it exposed Zesco’s inefficiencies – NDC
By Mirriam Chabala on 8 Nov 2019
The National Democratic Congress (NDC) has urged government to release the Cost of Service Study that was conducted by Economic Consulting Associates of the United....
Load-shedding increases MultiChoice’s costs
By Mirriam Chabala on 8 Nov 2019
MultiChoice Zambia says it has experienced substantial additional costs for continuous provision of services following the extended load shedding hours, which has increased the the....
Mining in lower Zambezi will not go ahead – Chitotela
By Stuart Lisulo on 7 Nov 2019
Tourism and Arts Minister Ronald Chitotela has disclosed that his Ministry has still not yet received an application from Australian miner, Zambezi Resources Limited, to....
Govt’s marriage with Vedanta irreparably broken, there’s no reconciliation – Musukwa
By Stuart Lisulo on 7 Nov 2019
Mines Minister Richard Musukwa says it remains undisputed that government’s marriage with Vedanta Resources Plc has irreparably broken down and that both parties will not....
Zambia Sugar posts increased profits of K270m
By Stuart Lisulo on 7 Nov 2019
Zambia Sugar Plc has posted increased profits of nearly K270 million during its financial year period ending August 31, 2019, boosted mainly by improved domestic....
Zambia has attracted $5bn investment pledges, 60% towards energy sector – ZDA
By Sipilisiwe Ncube on 5 Nov 2019
Zambia Development Agency (ZDA) acting Director-General Matongo Matamwandi says Zambia attracted US $5 billion worth of investment pledges in the second quarter of 2019 and....
ZAM demands cost of service study before Zesco hikes tariffs again
By Ulande Nkomesha on 5 Nov 2019
Consumer Unity Trust Society Society (CUTS) centre coordinator Chenai Makumba says government still needs to disclose details of its structured payment plan for the importation....
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Capital Buses seeks dialogue with Transport Ministry over Lungu’s ‘seat-belt’ directive
By Ulande Nkomesha on 5 Nov 2019
Capital Buses proprietor Ishmael Kankara says the company is assessing the implications of President Edgar Lungu’s pronouncement directing Minister of Transport and Communications Mutotwe Kafwaya....
Rising inflation rate worries ZCTU
By Ulande Nkomesha on 5 Nov 2019
Zambia Congress of Trade Unions (ZCTU) deputy secretary general Elaston Njovu says the Union is concerned with the escalating levels of the annual rate of....

Kalumbila incurs K24,450 emergency response cost for flipped tanker

By Martin Musunka on 5 Nov 2019

Kalumbila Minerals Limited (KML) spent a total of K24,450 or around US $1,853.00 on an emergency response after a truck transporting petroleum from Ndola to....

Zambia Chamber of Mines optimistic of annual conference growth

By Derrick Silimina on 5 Nov 2019

The Zambia Chamber of Mines has projected that its annual National Conference on Occupational Safety, Health and Environment will continue to attract more international players....

Explain how Eskom power import deal will be finance, Milupi challenges govt

By Natasha Sakala on 4 Nov 2019

Alliance for Democracy and Development (ADD) president Charles Milupi has challenged government to disclose the source of the money that will be sued to import....

Each household can only buy 1 bag of maize from FRA at a time – Katambo

By Sipilisiwe Ncube on 31 Oct 2019

Agriculture Minister Michael Katambo says each household is only allowed to buy one 50 kilogramme bag of maize from the Food Reserve Agency (FRA) under....

Barclays Bank Zambia scoops 2019 Best Retail, Corporate Bank

By Stuart Lisulo on 30 Oct 2019

Barclays Bank Zambia Plc has been named the 2019 Best Retail Bank and Best Corporate Bank by International Business Magazine. And the magazine has also....

It is difficult for Zambia not to accrue more debt- Kanyama

By Ulande Nkomesha on 28 Oct 2019

Economist Chibamba Kanyama says it will be difficult for Zambia to survive without external financing as the current external debt position requires refinancing. And Kanyama....

IMF team to visit Zambia in Nov

By Mirriam Chabala on 24 Oct 2019

The International Monetary Fund (IMF) has confirmed intentions to undertake a field staff visit to Zambia next month to exchange views on policies government is....

Saasa tips govt on demonstrating policy consistency

By Natasha Sakala on 22 Oct 2019

Economist Professor Oliver Saasa has advised government arms to avoid differing with each other through the press saying this undermines the integrity of government policy.....

Millers warn of mealie meal price hike as inflation soars

By Natasha Sakala on 22 Oct 2019

Millers Association of Zambia (MAZ) president Andrew Chintala says the price of mealie meal is expected to go up following an increase in the country’s....

FAO asks govt to operate open-border policy on maize exports

By Natasha Sakala on 22 Oct 2019

The Food and Agricultural Organization (FAO) has called on government to be consistent with its policy formulation and implementation on maize exports because inconsistencies have....

BoZ liquidates ZamPost Microfinance, Pan African

By Natasha Sakala on 21 Oct 2019

The Bank of Zambia (BoZ) has announced that Zampost Microfinance Limited (ZMFL) and Pan African Building Society (PABS) have with immediate effect been put under....

K30.6bn external financing in 2020 budget isn’t new debt – Ng’andu

By Ulande Nkomesha on 21 Oct 2019

Minister of Finance Dr Bwalya Ng’andu says the K30.6 billion foreign financing and grants allocated in the 2020 national budget should not be misconstrued as....

ERB mustn’t hike power tariffs without Cost of Service Study, insist CUTS

By Natasha Sakala on 21 Oct 2019

The Consumer Unity Trust Society (CUTS) has urged the Energy Regulation Board (ERB) to refrain from implementing any electricity tariff hikes in the absence of....

Katambo urges agro-dealers to justify their dues

By Mirriam Chabala on 17 Oct 2019

Agriculture Minister Michael Katambo has urged agro-dealers to justify debt which government owes them from as far back as 2015, promising to clear it once....

ZRA fully supports govt’s tax policies – Kingsley

By Natasha Sakala on 17 Oct 2019

Zambia Revenue Authority Commissioner General Kingsley Chanda has applauded government’s decision to re-introduce Value Added Tax (VAT) in the 2020 budget, pledging to implement it....

Zambia’s mining production will keep dwindling – Hambayi

By Natasha Sakala on 15 Oct 2019

Economist Trevor Hambayi says Zambia’s mining production will continue dropping due to increasing production costs, VAT refund disputes and dwindling copper prices on the international....

Absa won’t list on LuSE – Matlare

By Natasha Sakala on 15 Oct 2019

Absa group deputy chief executive officer Peter Matlare says the bank has no plans to list on the Lusaka Stock Exchange (LuSE) as they want....

Energy crisis has presented many opportunities – ZDA

By Ulande Nkomesha on 15 Oct 2019

The Zambia Development Agency (ZDA) says the current energy crisis which the country is facing has harnessed great opportunities for people to invest in alternative....

Govt still owes KCM, 4 other mines K2.8bn in VAT refunds – Ng’andu

By Ulande Nkomesha on 13 Oct 2019

Government still owes Konkola Copper Mines (KCM) Plc, among four other mining companies, a total of K2.8 billion in Value Addition Tax (VAT) refunds, Minister....

Govt challenges Royal Air Charters to penetrate commercial market

By John Chola on 11 Oct 2019

Royal Air Charters (RAC) needs to extend its services to the commercial flights market as government believes the move will advantage the airline and help....