Business

Lumwana ramps up production, targets 107,000 tonnes of copper
By Stuart Lisulo in Lumwana on 19 Apr 2019
Lumwana Mining Company Limited (LMC) is targeting to hit at least 107,000 metric tonnes of copper this year following its record-breaking output achieved in the....
Cost of Service study suspension necessitated new tariff application – Zesco
By Mirriam Chabala on 19 Apr 2019
Zesco spokesperson Henry Kapata says the suspension of the Cost of Service study, pending the appointment of a new consultant to complete it, has resulted....
2019 mining tax regime will push us out of business – Lumwana
By Stuart Lisulo in Lumwana on 18 Apr 2019
The 2019 mining fiscal regime remains a matter of life and death for us, says Lumwana Mining Company Limited (LMC) country manager Nathan Chishimba. And....
Zambia won’t have foreign reserves by 2021 if challenges aren’t addressed – CTPD
By Mirriam Chabala on 17 Apr 2019
The Centre for Trade Policy and Development (CTPD) has warned that Zambia will not have any foreign reserves to cover the US$750 Eurobond bullet payment....
KCM freezes new recruitment
By Stuart Lisulo on 17 Apr 2019
Konkola Copper Mines Plc (KCM) has announced a total freeze on any further recruitment even if a position becomes vacant under the company’s business plan.....
Hiked electricity tariffs will help Zesco survive harsh economy, explains Kapata
By Mirriam Chabala on 15 Apr 2019
Zesco Plc spokesperson Henry Kapata says electricity tariff revisions over the last few years have not kept up with the rising cost of generation and....
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Sales Tax will shrink businesses, trigger massive job losses, warns ZACCI
By Mirriam Chabala on 15 Apr 2019
The Zambia Chamber of Commerce and Industry (ZACCI) has warned that implementing Sales Tax from July 1, this year, could have devastating consequences of shrinking....
CSPR urges govt to stop exploiting farmers
By Sipilisiwe Ncube on 15 Apr 2019
Civil Society for Poverty Reduction (CSPR) executive director Patrick Nshindano says government is exploiting poor Zambians by re-selling a 50Kg bag of maize to communities....
World Bank picks Zambia to pilot human capital project
By Stuart Lisulo on 15 Apr 2019
The World Bank has picked Zambia to become one of the pilot locations for the human capital project, an initiative aimed at scaling-up access to....
Kwacha tumbles on World Bank growth downgrade
By Stuart Lisulo on 15 Apr 2019
The kwacha depreciated sharply against major currency convertibles to sink to at least K12.41 per dollar after the World Bank’s depressed real GDP growth forecast....
CEC Africa posts K3 billion loss
By Stuart Lisulo on 15 Apr 2019
CEC Africa, a subsidiary of the Zambia Energy Corporation Limited (ZECL), has posted losses after tax of over K3 billion during its financial year ending....
It’s now much harder to steal public funds, says Mwanakatwe
By Stuart Lisulo on 15 Apr 2019
It has now become much harder to steal public funds in Zambia, says Finance Minister Margaret Mwanakatwe. And Mwanakatwe says she is not worried about....
73% of Digital Financial Services accounts dormant, notes UNCDF
By Stuart Lisulo on 12 Apr 2019
Around 73 per cent of registered Digital Financial Services (DFS) accounts in Zambia remain inactive despite a huge growth in the number of registered accounts,....
Mopani resumes operations after underground safety audit
By Martin Musunka on 11 Apr 2019
Mopani Copper Mines Plc has with immediate effect resumed operations at its Nkana and Mufulira mine sites following an intensive safety audit of underground operations.....
Drought has driven mealie meal prices higher – IAPRI
By Stuart Lisulo on 11 Apr 2019
Mealie meal price increases have been driven by Zambia’s drought-hit areas, which has limited supply of maize grain on the market, says the Indaba Agricultural....
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PF thuggery in station forces Capital Buses to ponder shutdown
By Sipilisiwe Ncube on 10 Apr 2019
Capital Buses company proprietor Ishmael Kankara says he will have no choice but to close down his company if the illegal mushrooming of bus stations....
Zambia’s GDP growth to drop to 3.3% in 2019 – World Bank
By Stuart Lisulo on 10 Apr 2019
The World Bank says Zambia’s real GDP growth projection for 2019 is likely to be at 3.3 per cent, down from 3.5 per cent last....
BoZ warns of fraudsters using cryptocurrencies to swindle Zambians
By Stuart Lisulo on 9 Apr 2019
An increasing number of Zambians are still being duped into investing in cryptocurrencies, a popular virtual currency, where citizens are promised massive proceeds from their....

CEC wins highly competitive solar project tender

By Stuart Lisulo on 9 Apr 2019

Copperbelt Energy Corporation Plc, in partnership with InnoVent SAS, has been awarded two solar photovoltaic (PV) projects of 20MW each in a highly-competitive international tender....

Govt duping farmers, making profits out of FRA maize – Chikankata MP

By Sipilisiwe Ncube on 8 Apr 2019

Chikankata UPND member of parliament Chrispin Mwiinga has accused the government of making profit out of its people by re-selling the Food Reserve Agency (FRA)....

ZNFU says it’s too early to panic over 2018/2019 harvest

By Mirriam Chabala on 8 Apr 2019

The Zambia National Farmers Union (ZNFU) has urged Zambians not to panic over the dry spells in some parts of the country this farming season,....

Sales Tax has potential to increase prices of goods, services – CTPD

By Zondiwe Mbewe on 8 Apr 2019

Centre for Trade Policy and Development (CTPD) Researcher Bright Chizonde says the proposed sales tax has the potential to increase prices of goods and services....

Kwacha weakness will persist – FNB

By Stuart Lisulo on 4 Apr 2019

The kwacha’s performance against major currency convertibles is likely to remain weak, with the local currency expected to remain trading above the K12 per dollar....

Zambeef’s board chair increases shareholding

By Stuart Lisulo on 4 Apr 2019

Zambeef Plc board chairperson Dr Jacob Mwanza has increased his shareholding in the company to now holding over 1.4 million ordinary shares. According to a....

Cavmont posts K15.7 million loss

By Stuart Lisulo on 4 Apr 2019

Cavmont Capital Holdings Zambia Plc posted K15.7 million losses after tax during its financial half-year ending December 31, 2018, mainly triggered by increased impairment charges....

Zambia’s mining environment remains strained – Lumwana

By John Chola on 3 Apr 2019

Lumwana Mining Company Limited (LMC) has reiterated that Zambia’s operating environment in the mining industry has become immensely stained and placed the company in a....

ZSIC Life targets LuSE listing this year

By Sipilisiwe Ncube on 3 Apr 2019

The Zambia State Insurance Company (ZSIC) says it has recorded a 50 per cent growth in premium income in 2018, which closed at K194 million....

Zesco tariff hike will close dairy farmers’ businesses, warns DAZ

By Stuart Lisulo on 2 Apr 2019

Zesco’s plan to adjust electricity tariffs upwards would force more dairy farmers out of business because the cost of production will drastically increase, the Diary....

New mining tax regime will badly impact emerald mining – Grizzly

By John Chola on 29 Mar 2019

Grizzly Mining Company’s fifth auction sale of Emeralds opened at Lusaka’s Intercontinental Hotel, Monday, with the company reiterating its concern over the enactment of the....

Govt silence on Sales Tax guidelines will injure economy, warns CTPD

By Stuart Lisulo on 28 Mar 2019

The Centre for Trade Policy and Development (CTPD) has demanded for guidelines on the imminent Sales Tax’s implementation because there is still uncertainty among tax....

Zanaco warns of double-digit inflation on Sales Tax implementation

By Stuart Lisulo on 27 Mar 2019

The Goods and Services Tax (GST) is likely to negatively affect Zambia’s annual rate of inflation and push it to double-digits, averaging between 10 and....

KCM withdraws critical allowances for 320 staff

By Stuart Lisulo on 25 Mar 2019

Konkola Copper Mines Plc (KCM) has formally withdrawn a critical allowance payment affecting 320 staff effective March 1, 2019. But KCM’s corporate affairs general manager....

US govt releases US$30,000 for Zambian women empowerment

By Stuart Lisulo on 25 Mar 2019

Zambia is among 26 pilot countries worldwide selected to participate in the United States government’s newly-launched Academy for Women Entrepreneurs (AWE) programme established to support....

Miners should be safety conscious to avoid accidents, urges Association

By Sipilisiwe Ncube on 25 Mar 2019

Association of Mine Suppliers and Contractors (AMSC) president Augustine Mubanga has urged all mining employees to be safety conscious when undertaking operations to reduce the....

Vedanta appoints Sheppard as new KCM boss

By Stuart Lisulo on 24 Mar 2019

Vedanta Resources Limited has appointed Christopher Sheppard as the new Konkola Copper Mines Plc (KCM) chief executive officer effective March 18, 2019, to be based....

Lifting of mealie meal export ban will hurt local consumers – Agro expert

By Stuart Lisulo on 22 Mar 2019

Mealie meal shortages being experienced in some parts of the country should prompt government to revise the recent lifting of the export ban of the....

Lafarge posts increased profit of K195m

By Stuart Lisulo on 22 Mar 2019

Lafarge Zambia Plc has posted increased profits of K195 million after tax in its financial year ending December 31, 2018, mainly boosted by higher cement....

KCM suspends Shaft 4 operations following miner’s death

By Stuart Lisulo on 22 Mar 2019

Konkola Copper Mines Plc as shut down its Underground Mine Shaft 4 operations following a fatal accident that claimed one miner’s life after being crushed....