BANKERS Association of Zambia (BAZ) chairperson Mizinga Melu says it's now the right time for the common man to venture into business in view of the Kwacha appreciation. And Melu says banks will gradually reduce interest rates depending on the developments in the financial sector. Speaking during the Government-IMF engagement with the private sector, Thursday,...

ECONOMIST Dr Grieve Chelwa has described the conditions attached to the IMF bailout package as heartless. And Dr Chelwa says the poor will be burdened by more taxes because one of the conditions is that government must limit the number of goods that are VAT exempt. Meanwhile, Dr Chelwa says although government has been encouraging...

IMF Resident Representative Preya Sharma says the outlook for Zambia is positive but much more still needs to be done. Meanwhile, Minister of Finance and National Planning Dr Situmbeko Musokotwane says government is doing everything possible to make the economy grow bigger. Speaking during the Government-IMF engagement with the private sector, Thursday, Sharma said it...

THE cost of living for a family of five in Lusaka as measured by the Jesuit Centre for Theological Reflection (JCTR) Basic Needs and Nutrition Basket (BNNB) for the month of August has reduced by K254.96. In a statement, Thursday, JCTR programmes manager Muchimba Siamachoka said the BNNB for the month of August stood at...

ENERGY Minister Peter Kapala says if the 17 percent electricity tariff hike proposal is approved, the increment will be gradual and spread over a period of five years. In a final Cost of Service of Study (COSS) report dated December 21, 2021, prepared for the Energy Regulation Board (ERB) by Energy Market and Regulatory Consultants...

MINISTRY of Finance permanent secretary for budget Mukuli Chikuba says government won't repay the Eurobond which is due this month because it intends to restructure it. And Ministry of Finance director for Economic Management Mulele Mulele says the IMF programme will be reviewed every six months to ensure that all objectives set for a specific...

ZAMBIA Consumer Association (ZACA) Executive Secretary Juba Sakala has challenged local distributors and manufacturers to emulate Shoprite by effecting a reduction in prices following the gains recorded in the kwacha. In an interview, Tuesday, Sakala said it was the association's hope that other businesses could also pass on the benefits of the stabilised currency to...

STARTECH Communication director Progress Kapula has accused ZICTA of sidelining Zambian companies from participating in the installation of 31 GMS communication towers through its attached requirements to the bid. In an advert placed in various newspapers August and September, ZICTA invited bids for the design, supply, delivery, installation, integration and commissioning of 31 communication towers...

SHOPRITE country general manager Charles Bota says the chain store has reduced prices of over 800 commodities as a pass-through effect of the Kwacha gains. In an interview, Bota said Shoprite had reduced prices on some local and imported commodities in all of its 41 stores across the country, adding that most of their suppliers...

FINANCE and National Planning Minister Dr Situmbeko Musokotwane has described the conditionalities which the International Monetary Fund attached to the $1.3bn bailout package as “sweet”, saying citizens will see for themselves once the full agreement is published this week. And Dr Musokotwane has dismissed speculations that government intends to remove subsidies on fertiliser. Meanwhile, Dr...