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Business
9 Dec 2019
|
Stuart Lisulo
Zambezi River Authority approves $81m budget for 2020
The Zambezi River Authority (ZRA) Council of Ministers have approved an US $81 million budget for 2020 fiscal year, with the main expenditure being allocated to the rehabilitation of the Kariba Dam. And Zimbabwe have […]
5 Dec 2019
|
Stuart Lisulo
FDI into Zambia shrinks by 50%
Foreign Direct Investment (FDI) into Zambia plummeted by nearly 50 per cent in 2018, mainly on account of significant losses incurred by mining companies who were hit by severe operational challenges in the country, the […]
4 Dec 2019
|
Natasha Sakala
CEC’s power supply to KCM reduces to 160MW
Copperbelt Energy Corporation (CEC) Plc’s electricity supply to Konkola Copper Mines (KCM) has drastically dropped to an average 160 megawatts by the end of 2019, from a peak of around 210 megawatts one year ago, […]
28 Nov 2019
|
Natasha Sakala
KCM hasn’t paid for power for a year, laments CEC
Copperbelt Energy Corporation (CEC) chief executive officer Owen Silavwe has expressed concern over Konkola Copper Mines’ failure to pay for its electricity offtake for about a year now. In an interview after a tour of […]
27 Nov 2019
|
Natasha Sakala
MPR hike will stifle private sector growth – Kafwanka
Financial analyst Blessings Kafwanka says the Bank of Zambia’s (BoZ) hike in the Monetary Policy Rate (MPR) in isolation will stifle private sector growth. Commenting on the central bank’s move to increase the MPR by […]
27 Nov 2019
|
Sipilisiwe Ncube
Rand catches up with falling kwacha to trade at R1 to K1
The Zambian kwacha has continued on its depreciating trend against major convertible currencies, with the South African rand now catching up with it to trade at K1 to R1, for the first time since rebasing. […]
26 Nov 2019
|
Ulande Nkomesha
Zambia’s drop in copper export earnings should trigger change in mining tax regime – Chamber
Zambia Chamber of Mines president Goodwell Mateyo says Zambia’s reduced copper export earnings as recorded by the Bank of Zambia (BoZ) is as a result of government’s excessive taxation on mining companies. According to the […]
25 Nov 2019
|
Stuart Lisulo
Kwacha likely to depreciate further – Cavmont
The Kwacha is likely to depreciate even further before the end of this year, falling to an average K14.50 per dollar, amidst strong demand for the greenback by both offshore and local players, market data […]
22 Nov 2019
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Stuart Lisulo
Interest rate hike looms as BAZ warns of banks’ cut back
The Bankers’ Association of Zambia has warned that credit consumers should immediately expect a hike in interest rates on loan facilities following the central bank’s huge increase in the Monetary Policy Rate (MPR). And Mwanza […]
18 Nov 2019
|
Natasha Sakala
Standard Chartered closes 5 branches
Standard Chartered Bank Zambia has announced the closure of five of its branches without stating any reasons. Standard Chartered stated that the Mongu, Kasama, Chililabombwe and Luanshya branches would close, whilst the branch at Crossroads […]
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