Business

Superior Milling to increase mealie meal prices
By Abraham Kalito on 12 Oct 2018
Superior Milling Company managing director Peter Cottan says mealie meal prices will definitely be increased following a rise in fuel prices, but added that the....
Fitch Ratings downgrades Zambia’s credit rating to B-
By Stuart Lisulo on 12 Oct 2018
Fitch Ratings has downgraded Zambia’s credit rating to ‘B -’ from ‘B’, and maintained the country’s economic outlook to negative, mainly triggered by government’s substantial....
FRA fails to purchase 500,000 MT maize target
By Abraham Kalito on 11 Oct 2018
The Food Reserve Agency (FRA) says it won’t manage to purchase the targeted 500,000 metric tonnes of maize this crop marketing season, but insists that....
Bus fares go up by 22 per cent
By Mirriam Chabala on 10 Oct 2018
Bus operators have hiked passenger fares by 22 per cent across the board following the upward adjustment in the fuel pump prices by the Energy....
Govt defies calls to apologize over Saudi Arabia oil deal
By Abraham Kalito on 10 Oct 2018
Energy Minister Mathew Nkhuwa has insisted that government did not mislead Zambians on the Saudi Arabia oil deal and there is no need to apologize....
Govt’s delayed farmer input distribution worries CTPD
By Mirriam Chabala on 10 Oct 2018
The Ministry of Agriculture’s delay in the distribution of farming inputs for 2018/2019 farming season is disturbing and unacceptable, says the Centre for Trade Policy....
Govt’s abuse of donor funds flaming kwacha volatility – Hamaundu
By Abraham Kalito on 9 Oct 2018
Financial analyst Mambo Hamaundu has attributed the recent volatility in kwacha to government’s abuse of donor funds and the subsequent withdrawal of aid by four....
Zambia will remain poor for many more years to come – Research Institute
By Abraham Kalito on 9 Oct 2018
Indaba Agricultural Research Policy Institute (IAPRI) Executive Director Chance Kabaghe says Zambia will be poor for many more years to come because of government’s hesitance....
MoF to appoint Tax Review Committee to deal with mine concerns over revised policy
By Mukosha Funga on 8 Oct 2018
Finance Minister Margaret Mwanakatwe says she will appoint a Tax Policy Review Committee to review issues raised by members of the public on the revised....
Munali Nickel to commence operations in 2019
By Stuart Lisulo on 8 Oct 2018
Munali Nickel Mine is expected to resume its long-awaited operations by the first quarter of next year after successfully securing US $40 million to commence....
Zambia can’t win fight against malnutrition with 2019 budget – CSO-SUN
By Abraham Kalito on 8 Oct 2018
Civil Society Organisation-Scaling Up Nutrition (CSO-SUN) has described as “insignificant” government’s allocation of funds towards fighting malnutrition, adding that consequently, the fight will not produce....
Expect commodity prices to go up – Mwanakatwe
By Abraham Kalito on 4 Oct 2018
Finance Minister Margaret Mwanakatwe has warned that numerous commodity prices are expected to be adjusted upwards following the recent adjustment in the price of fuel.....
Saudi oil deal amounted to nothing, reveals Energy Minister
By Stuart Lisulo on 4 Oct 2018
Zambia’s oil deal with Saudi Arabia could not have any impact on cushioning local fuel pump prices because it represents just a “drop in the....
Govt issues SIs to outline which businesses foreigners can venture into
By Abraham Kalito on 4 Oct 2018
Commerce, Trade and Industry Minister Christopher Yaluma has announced that two Statutory Instruments (SIs) aimed at protecting small business from being invaded by foreigners have....
Debt repayment may go as far as 2038 – Mwanakatwe
By Abraham Kalito on 3 Oct 2018
Finance Minister Margaret Mwanakatwe says allegations of asset takeovers by the Chinese should be treated as “hogwash,” but added that external debt repayments will go....
Govt confers with SA to restart honey exports
By Abraham Kalito on 3 Oct 2018
Ministry of Commerce, Trade and Industry Permanent Secretary Kayula Siame says government is currently in talks with South African authorities to restart exporting honey to....
Zambia’s external debt servicing costs escalate to $706m – WB
By Stuart Lisulo on 2 Oct 2018
Zambia’s cost of external debt servicing has drastically risen to around US$706 million in 2017 from just US$63 million in 2013, a new World Bank....
Debt talk infuriates Mwanakatwe: Please give me a break from negative debates
By Abraham Kalito on 2 Oct 2018
Finance Minister Margaret Mwanakatwe says the 2019 budget will be mere rhetoric if it does not receive the much-needed support from Zambians because the country....

Mwanakatwe attribute debt increase to Chinese efficiency

By Abraham Kalito on 1 Oct 2018

Finance Minister Margaret Mwanakatwe says government debt has been increasing because Chinese contractors are very efficient in service delivery, a situation she says attracts an....

Weak kwacha could trigger increased mealie meal prices, warn millers

By Abraham Kalito on 1 Oct 2018

The kwacha’s depreciation will in the long-run negatively impact mealie meal prices, says the Millers Association of Zambia (MAZ). The kwacha has continued depreciating against....

Mining companies should stop holding govt to ransom, warns EAZ

By Abraham Kalito on 28 Sep 2018

The mining sector’s contribution towards Zambia’s tax revenues is insignificant and as such, it is difficult to maintain a stable fiscal policy, says Economics Association....

Inflation down to 7.9%

By Stuart Lisulo on 28 Sep 2018

The annual rate of inflation has reduced to 7.9 per cent, down from 8.1 per cent recorded in August, triggered by the “base effect” arising....

ERB rules out fuel price hike despite kwacha fall

By Abraham Kalito on 28 Sep 2018

The Energy Regulation (ERB) is adamant to confirm whether fuel prices would remain unchanged in the short term despite a sharp kwacha depreciation this week,....

Mines call for stable fiscal policy in 2019 budget

By Stuart Lisulo on 27 Sep 2018

The Zambia Chamber of Mines has called on government to maintain the same mining fiscal policy for continued stability and predictability. And the Chamber has....

TAZARA, DCG to develop dry port in Kapiri Mposhi

By Sipilisiwe Ncube on 26 Sep 2018

The Dar-es-Salaam Corridor Group (DCG) and the Tanzania-Zambia Railway Authority (TAZARA) have entered into a partnership agreement to develop a dry port at the terminal....

Illegal fuel dumping costing Zambia $81m a year – ERB

By Stuart Lisulo on 26 Sep 2018

Illegal fuel dumping and adulteration in Zambia is costing government an estimated US $81 million in lost revenues per annum, according to the Energy Regulation....

Ferngroove secures $30 million to boost local agro-processing

By Stuart Lisulo on 26 Sep 2018

Ferngroove BC, a Lusaka-based investment advisory firm, has secured up to US $30 million funding targeted at boosting the agro-processing sector in Zambia. According to....

Mayfair Insurance hits K100m in premiums

By Stuart Lisulo on 25 Sep 2018

MAYFAIR Insurance Zambia has posted huge gross written premiums of K100 million in 2017 from the K3 million recorded at inception in 2010. In a....

Kwacha hits 12 per dollar, as greenback gets scarce

By Stuart Lisulo on 25 Sep 2018

The kwacha has continued depreciating against major currency convertibles to breach the K12 per dollar psychological barrier for the first time since October, 2015. And....

Cheap imported dairy products killing Zambian sector – DAZ

By Abraham Kalito on 25 Sep 2018

The Diary Association of Zambia (DAZ) says bulky imports of cheap milk and milk products from neighbouring countries has brought unfair competition and subsequently hindered....

Airports Corporation posts 28% surge in domestic passenger movements

By Stuart Lisulo on 24 Sep 2018

Zambia Airports Corporation Limited (ZACL) has recorded a 28 per cent increase in domestic passenger movements in the second quarter of 2018, triggered by reduced....

World Bank downgrades Zambia’s GDP growth to 3.3%

By Stuart Lisulo on 24 Sep 2018

The World Bank has revised Zambia’s real GDP growth projection for 2018 downwards to 3.3 per cent, down from 4.3 per cent, triggered by dampened....

Kwacha hits K11 per dollar

By Stuart Lisulo on 20 Sep 2018

The kwacha has depreciated against major currency convertibles to breach the K11 per dollar psychological barrier for the first time since April, 2016. And FNB....

Cassava Brown Disease breaks out in 3 provinces

By Zondiwe Mbewe on 17 Sep 2018

Cassava Brown Streak Disease has broken out in Western, Northern and Luapula provinces presenting a major threat to crop productivity in the three areas of....

Mkushi Copper Mine to resume operations after 40-year shutdown

By Mirriam Chabala on 17 Sep 2018

The Mkushi Copper Mine in Luano District is set to resume full operations before the end of this year, 40 years after mining activities were....

KCM upbeat on resolving financial challenges

By Stuart Lisulo on 15 Sep 2018

Konkola Copper Mines (KCM) says it has initiated measures to raise production and improve its cash flows. Speaking when the mining company received Copperbelt Minister....

PAYE exemption threshold should be increased to K4,000 – FFTUZ

By Stuart Lisulo on 12 Sep 2018

Government should increase the Pay as You Earn (PAYE) exemption threshold from the current K3,300 to K4,000 to provide relief to workers, says the Federation....

KCM attributes financial challenges to govt’s failure to refund VAT

By Abraham Kalito on 10 Sep 2018

Konkola Copper Mines (KCM) chief executive officer Deshnee Naidoo says delayed payments to workers has mainly been because of governments delayed release of Value Added....