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Business
6 Oct 2020
|
Natasha Sakala
2021 budget will slide Zambia into debt trap – ActionAid
ACTIONAID Zambia says the 2021 national budget lacks progressive fiscal reform to enhance domestic revenue mobilisation and risks plunging the country into a debt trap. In a statement, ActionAid country director Nalucha Ziba stated that […]
6 Oct 2020
|
Natasha Sakala
Stakeholders demand removal of mines’ double-taxation
STAKEHOLDERS have reiterated calls that government removes the non-deductibility of Mineral Royalty Tax (MRT) payments, which result in double-taxation on mining companies to help encourage investment in the sector and revive Zambia’s economic growth. And […]
6 Oct 2020
|
Natasha Sakala
Ng’andu’s presentation fell short of clarity, detail to comfort creditors – Saasa
ECONOMIST Professor Oliver Saasa says the presentation by Minister of Finance Dr Bwalya Ng’andu before the creditors fell short of the needed clarity and detail to give sufficient comfort to the Eurobond holders, hence their […]
6 Oct 2020
|
Stuart Lisulo
Manage debt carefully to revive growth, ZACCI urges govt
GOVERNMENT must strictly manage its debt contraction policy to ensure the 2021 national budget delivers on its intended objectives of ensuring Zambia’s economic recovery plan is achieved, says the Zambia Chamber of Commerce and Industry […]
5 Oct 2020
|
Diggers Reporter
Kwacha to weaken on bondholders’ rejection of govt debt suspension
THE kwacha is expected to continue depreciating against major currency convertibles, given the heightened demand for dollars on the local market, exacerbated by government’s need to resume external debt service payments, market data shows. According […]
5 Oct 2020
|
Stuart Lisulo
StanChart posts K225m losses
STANDARD Chartered Bank Zambia Plc has posted huge losses of over K225 million after tax during its half-year period ending June 30, 2020, mainly induced by the kwacha’s massive devaluation and the bank’s impairments on […]
5 Oct 2020
|
Stuart Lisulo
K8bn COVID-19 Bond reaches 72% subscription – BoZ
GOVERNMENT has extended the issuance period of the COVID-19 bond to December 31, 2020, to allow for more time to realise the targeted amount of K8 billion. According to a notice issued via the Bank […]
2 Oct 2020
|
Julia Malunga
Bondholders’ reaction raises questions on 2021 budget – Magande
FORMER finance minister Ng’andu Magande says bondholders’ refusal to accept suspension of Eurobond interest debt repayment has put question marks in the 2021 budget. And Magande says without clinching an IMF bailout package, no lenders […]
1 Oct 2020
|
Stuart Lisulo
KCM now owes CEC $150m in unpaid electricity bills – Silavwe
KONKOLA Copper Mines Plc (KCM) now owes Copperbelt Energy Corporation (CEC) an outstanding US $150 million electricity bill, up from around US $144 million at the end of June, 2020. And CEC managing director Owen […]
30 Sep 2020
|
Natasha Sakala
ZRA, local govt sign MoU to intensify tax collection from informal sector
THE Zambia Revenue Authority (ZRA), Ministry of Finance and the Ministry of Local Government have signed a Memorandum of Understanding (MoU) that will see local authorities collecting base and withholding taxes on rental income on […]
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