THE annual rate of inflation has increased to 17.4 per cent in November, up from 16 per cent recorded in October, mainly induced by huge price increases in food and non-food items, the highest on record since September, 2016, according to the Zambia Statistics Agency (ZSA). Announcing Zambia’s annual rate of inflation for the month...

MINES Union of Zambia (MUZ) president Joseph Chewe says government should not allow Vedanta Resources to take control of Konkola Copper Mines. Last week the Court of Appeal reversed the decision of the Lusaka High Court in which it refused to refer the Konkola Copper Mines dispute between Vedanta Resources and ZCCM-IH to arbitration. This...

STANDARD Chartered Bank Zambia Limited has announced the closure of eight branches across the country in a move designed to fully maximise its digital platforms. But Finance Minister Dr Bwalya Ng’andu says the Bank of Zambia (BoZ) has questioned the bank’s decision to close the branches in the country. In a notice, Standard Chartered Bank...

THE Copperbelt Energy Corporation Plc (CEC) says its sales volumes in the Democratic Republic of Congo (DRC) this year should not be expected to hit more than the 25 per cent growth it achieved last year. And CEC says Konkola Copper Mines’ (KCM) continued failure to pay and honour its financial obligations towards its unpaid...

ECONOMIST Chibamba Kanyama says the only feasible option to stop Zambia’s debt situation from deteriorating further is for Zambians to come on board and offer support through a "solidarity tax". And Kanyama says Eurobond holders will not rush into dragging Zambia to court as they remain committed to an amicable win-win solution. In an interview,...

THE Kitwe Chamber of Commerce has described 2020 as a dark year where government has constantly interfered with local businesses, leading to disruption and heightened uncertainty. And the Chamber has predicted that government will increase its populist agenda going into 2021 ahead of next year’s crucial general election in a bid to mobilise votes. Chamber...

BANK of Zambia Governor Christopher Mvunga says the central bank will not print out money for next year's general election because elections do not warrant the criteria for printing additional currency. And Mvunga has dispelled social media reports that the central bank plans to ban people from holding dollar accounts. Speaking during the Monetary Policy...

ECONOMIST Caesar Cheelo has urged the Bank of Zambia (BoZ) to maintain the Monetary Policy Rate (MPR) at eight per cent as increasing it will tighten liquidity conditions in the financial market. And Cheelo says the BoZ’s Medium-Term Refinancing Facility remains limited to stimulate other sectors, such as manufacturing and agriculture where demand for goods...

CENTRE for Trade Policy and Development (CTPD) says it expects the Bank of Zambia (BoZ) to maintain its Monetary Policy Rate (MPR) at eight per cent to continue stimulating economic growth. In a statement ahead of the Monetary Policy Committee (MPC) announcement due this Wednesday, CTPD policy lead-tax justice Ibrahim Kamara called on the MPC...

THE Zambian government’s lack of engagement and transparency does not provide for the conditions that would allow bondholders to consider providing near-term relief, says the Zambia External Bondholder Committee. And the Committee says there is no basis to conclude that the Zambian government intends to treat bondholders on an equitable basis with other commercial and...