Business

Absa re-opens Centro Mall branch
By Stuart Lisulo on 4 Apr 2020
ABSA Bank Zambia Plc has re-opened its Centro Mall Branch in Kabulonga following approval received from the Ministry of Health after it earlier closed the....
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We won’t reduce load shedding despite COVID-19 – Zesco
By Ulande Nkomesha on 3 Apr 2020
ZESCO Limited public relations manager Hazel Zulu says the power utility will not review the load shedding schedule during the COVID-19 outbreak because it is....
Kwacha nears 19 per dollar
By Stuart Lisulo on 2 Apr 2020
THE kwacha’s sharp depreciation against major convertible currencies is likely to continue due to Zambia’s weak economic productivity, compounded by diminishing dollar supply, says financial....
Govt forecasts stability in mining sector amidst COVID-19 pandemic
By Ulande Nkomesha on 2 Apr 2020
MINES and Mineral Resources Minister Richard Musukwa says government is putting in place measures to provide relief for the mining industry but has warned mining....
We’ll put KCM on care and maintenance if need be – Milingo
By Natasha Sakala on 2 Apr 2020
Konkola Copper Mine (KCM) provisional liquidator Milingo Lungu says the mine has put in place a contingency and business continuity plan which includes putting the....
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Zesco’s demands to adjust BSA would’ve been injurious to our business – CEC
By Stuart Lisulo on 2 Apr 2020
COPPERBELT Energy Corporation (CEC) Plc says it remains totally committed to continue providing seamless power supply services to all its customers on the Copperbelt, while....
ZRA forecasts reduced revenue collection amidst COVID-19
By Mirriam Chabala on 2 Apr 2020
THE COVID-19 pandemic will negatively impact revenue collections this year because of the decline in copper prices that has already affected Mineral Royalty Tax and....
Some mines face closure amidst deteriorating copper prices, warns Chamber
By Ulande Nkomesha on 1 Apr 2020
MINING companies in Zambia face the prospect of being put under care and maintenance amidst the escalating high-cost of operations, combined with continued uncertainty, triggered....
Slash PAYE to provide tax relief, CUTS urges govt
By Natasha Sakala on 1 Apr 2020
THE Consumer Unity Trust Society has called on government to emulate other countries and consider slashing the Pay As You Earn (PAYE) threshold in the....
Zesco will dictate power conditions to CEC – Nkhuwa
By Natasha Sakala on 1 Apr 2020
ENERGY Minster Mathew Nkhuwa says power supply on the Copperbelt will not be interrupted despite Zesco Limited’s failure to reach an agreement with Copperbelt Energy....
ZACCI tips govt on how to shield businesses against COVID-19
By Mirriam Chabala on 31 Mar 2020
THE Zambia Chamber of Commerce and Industry (ZACCI) has urged government to immediately initiate a lock-down to protect consumers and businesses in the country against....
CTPD proposes 100% capital allowances for mines to boost production
By Mirriam Chabala on 30 Mar 2020
THE Centre for Trade Policy and Development (CTPD) says government should consider increasing capital allowances to 100 per cent, among other fiscal measures to be....
Fuel prices are only determined once crude cargo lands – ERB
By Ulande Nkomesha on 26 Mar 2020
ZAMBIA is unlikely to benefit from the current low oil prices on the international market, which have reduced to a five-year low of $26 per....
World Bank, IMF calls for suspension of debt repayment
By Julia Malunga on 26 Mar 2020
The International Monetary Fund and the World Bank have asked all bilateral creditors to suspend debt repayment from International Development Association (IDA) countries in order....
I’m still awaiting Zesco-CEC BSA report, says Nkhuwa
By Ulande Nkomesha on 25 Mar 2020
ENERGY Minister Matthew Nkhuwa says he is yet to receive a report on the status of the Zesco Limited and the Copperbelt Energy Corporation (CEC)....
ZNFU predicts good 2020 crop harvest
By Julia Malunga on 25 Mar 2020
THE Zambia National Farmers’ Union (ZNFU) says Zambia is likely to reap a good harvest in the forthcoming crop marketing season, mainly boosted by early....
COVID-19 will trigger major global economic recession, warns World Bank
By Stuart Lisulo on 25 Mar 2020
THE World Bank has warned that a “major economic recession” will follow in the aftermath of the deadly COVID-19 outbreak. And the World Bank Group....
Reduce data, voice call taxes to encourage social distancing, ZACCI urges govt
By Ulande Nkomesha on 25 Mar 2020
GOVERNMENT must immediately suspend or reduce taxes related to data and voice telecommunication services to cushion the social and economic impact of the Coronavirus, says....

Emirates’ flight suspension takes effect today

By Julia Malunga on 25 Mar 2020

EMIRATES has suspended most of its passenger flights to various international destinations across the globe, including Lusaka, effective Wednesday, March 25. In a statement released,....

Kwacha on a race to 18

By Natasha Sakala on 24 Mar 2020

THE kwacha has continued to lose ground against major convertibles on the foreign exchange market, trading at a low of between K17.30 and K17.64 for....

Multichoice explains movie rental fee hike

By Stuart Lisulo on 23 Mar 2020

MULTICHOICE Zambia has hiked its DStv Box Office rental fees to K30 per movie from K19.50, effective April 15, 2020, triggered by the company’s desire....

Govt still collecting Drought Insurance data for farmers who should benefit – Katambo

By Natasha Sakala on 23 Mar 2020

Agriculture Minister Michael Katambo says satellite data is currently being compiled to ascertain the number of farmers affected by floods and drought that could benefit....

BoZ raises money transfer limits to reduce cash transactions amid Covid-19 outbreak

By Natasha Sakala on 23 Mar 2020

The Bank of Zambia has removed transaction and balance limits on agents and corporate wallets and increased the limit for individuals in a bid to....

Unscrupulous traders increasing mealie meal prices – Katambo

By Julia Malunga on 20 Mar 2020

AGRICULTURE Minister Michael Katambo says Zambia has enough maize and that the shortage in some parts of the country is being caused by unscrupulous traders....

Govt insincere in attributing kwacha free-fall to COVID-19 – ActionAid

By Mirriam Chabala on 20 Mar 2020

GOVERNMENT has been insincere in attributing the kwacha’s rapid depreciation to the Coronavirus outbreak because the local currency was already losing value before the disease....

SAA scraps 162 flights in response to coronavirus

By Stuart Lisulo on 20 Mar 2020

SOUTH African Airways (SAA) has scaled down capacity and grounded 162 flights in response to the low demand for air travel, triggered by the Coronavirus....

Chamber of Mines to review coronavirus contingency plans

By Julia Malunga on 20 Mar 2020

ZAMBIA Chamber of Mines president Goodwell Mateyo says individual mining companies are urgently reviewing all available contingency plans to effectively deal with the Coronavirus outbreak.....

Govt mulls oil price dip implications on local fuel pricing

By Ulande Nkomesha on 19 Mar 2020

MINISTRY of Energy Permanent Secretary Trevor Kaunda says government is still analyzing whether or not any possible fuel price adjustments will be made in view....

Dipak drags Minister of Finance to court for contracting loans without parliament approval

By Zondiwe Mbewe and Natasha Sakala on 19 Mar 2020

FORMER Minister of Commerce, Trade and Industry Dipak Patel has petitioned the Constitutional Court over government’s failure to obtain prior approval from Parliament before contracting....

Huge debt serving triggering kwacha free-fall – Mutati

By Mirriam Chabala on 19 Mar 2020

FORMER Finance Minister Felix Mutati says Zambia’s huge volume of debt serving has contributed to the kwacha’s rapid depreciation because it is harvesting a lot....

CBU lecturers down tools over February dues

By Mirriam Chabala on 19 Mar 2020

LEARNING at the Copperbelt University (CBU) has been disrupted after lecturers at the institution downed tools, Monday afternoon, demanding payment of their delayed February salaries.....

Madison Financial Services to inject K70m into MAMCo

By Stuart Lisulo on 18 Mar 2020

THE Securities and Exchange Commission’s (SEC) temporary possession of Madison Asset Management Company (MAMCo) came as a result of its financial challenges, which emanated from....

Lungu should join coronavirus fight – Saasa

By Mirriam Chabala on 18 Mar 2020

ECONOMIST Professor Oliver Saasa says it worrying to see Zambia handling the coronavirus pandemic outside the Presidency when it is a multi-faceted problem. And Professor....

Data proves Wina wrong on kwacha depreciation

By Stuart Lisulo on 17 Mar 2020

THE kwacha’s depreciation to an all-time low of K16.00 per dollar has been proven to be the worst-performing African currency despite Zambia being one of....

You’ve failed, stop giving excuses on falling Kwacha, Sichinga tells Wina

By Mirriam Chabala on 16 Mar 2020

FORMER Commerce Minister Robert Sichinga says Vice-President Inonge Wina’s argument that the free-fall of the Kwacha is due to the Covid-19 pandemic is merely an....

Airtel’s profit slumps to K15.7m

By Stuart Lisulo on 16 Mar 2020

AIRTEL Networks Zambia Plc has posted reduced net profits of only K15.7 million during its 2019 financial year period compared to over K64 million in....

Kwacha trades in red as it hits K16 per US dollar

By Stuart Lisulo on 16 Mar 2020

THE kwacha has depreciated to hit the K16.00 per dollar psychological barrier for the first time in Zambia’s history, owing to a sustained high demand....

ZCCM-IH sets gold buying price at K550/gramme

By Stuart Lisulo on 13 Mar 2020

ZCCM-IH chief executive officer Mabvuto Chipata says talks with various companies outside Zambia are at an advanced stage to secure a viable market for the....