Welcome to my BLOGSPOT. Economic matters such as the exchange rate among others remains critical to governance in any country. As such, the media and bloggers equally have an important role to play in ensuring that checks and balances are offered to all players in economic matter. Here you will find all business related issues, including economic matters and updates. Kindly feel free to comment on any issues and help me improve where possible.
THE Bank of Zambia (BoZ) has challenged commercial banks to reduce lending rates and service charges. The charges which have remained relatively high and therefore counterproductive to the financial inclusion agenda. This follows the recent reduction...
HIGH minimum balances being imposed on customers by commercial banks have continued to be a hindrance to the uptake of financial access in Zambia, says Kenyan former Bank governor, Njuguna Ndung'u. Dr. Ndung'u emphasized that high minimum balances had...
THE banking industry has set a record and showed how resilient it is with the reopening of Zambia Industrial Commercial Bank Limited (ZICB). Bankers Association of Zambia (BAZ) chief executive officer, Leonard Mwanza, said reopening ZICB was a record...
FIRST National Bank (FNB) Zambia has anticipated more stimulated economic recovery following the decision by the Bank of Zambia (BoZ) to inject cheap credit for the private sector by reducing the policy rate and statutory reserve ratio by 75 as well as...
GOVERNMENT has so far invested over US$1 billion in the aviation industry, leading to the expansion of the sector with year on year real growth projected to be 13 percent for the next 15 years. Zambia’s aviation industry has seen positive growth in 2017...
ZAMBIA'S copper production for 2017 is likely to be above 750, 000 metric tonnes, similar to the 770, 000 tonnes produced in 2016. Despite the industry facing challenges in 2017 such as inadequate power supply, flooding and declining pre grade, the sector...
THE banking industry as at end of October 2017 recorded a decline of 3.8 percent gross loans and advances owing to increased Non-Performing Loans (NPLs). The sector during the period under review recorded K23.4 billion worth of gross loans and advances...
CABINET has approved the re-establishment of a national airline which is expected to cost US$30 million and the works for the process are therefore set to commence early next year. Government, the majority owner of operations, will work with Ethiopian...
AN estimated US$500 million of revenue is expected to be generated from the revived Zambia Airways which will hit the skies mid-2018 through air ticket sales. The US$500 million will be retained in the domestic economy, thereby providing more revenue...
THE Ministry of Finance has announced that it will no longer make Treasury Single Account payments to suppliers of goods and services who turn-up with manually generated purchase orders, those that are handwritten. This means that manually generated Local...
GOVERNMENT has started implementing the €1, 400, 000 European Union-funded Southern African Development Community (SADC) Trade Related Facility (TRF) project for Zambia meant to among others, develop key position on trade. The project with two-year duration...
THE Zambia Bureau of Standards (ZABS) has exceeded its product testing for 2017 by 5, 032, meaning most of the products that were sold to consumers were tested thus increasing the conformity levels and giving consumers quality merchandises. During the...
FIVE insurance companies will not have operating licences for this year following the failure to meet the required minimum capital requirement whose deadline was on 31st October, 2017. The entities are currently being assessed and a decision will soon...
INTEREST rates on all loans linked to the monetary policy rate are expected to scale down by 50 basis points following the Bank of Zambia’s decision to cut lending rates for the fifth consecutive time, to the lowest in four years. And First National Bank...
MBALA will by next year begin exporting beans to neighbouring countries as well as China following a plant which will be set up by the private sector in the area at a total cost of about US$10 million. This plant will also provide a readily market for...
ZAMBIA will soon be exporting mill-balls used by mines in crushing ore following the construction of a US$40 million manufacturing facility which is nearing completion in Kalumbila. The plant meant to start operations this year will be producing high-quality...
ZAMBIA’S fiscal deficit is expected to reduce immensely this year due to the slowdown in acquiring new loans by Government, economist Lubinda Haabazoka has predicted. Recently, the Southern Africa Economic Outlook 2018 also indicated that Zambia is among...
OVER 930 tonnes of sugar is currently being smuggled into Zambia on a monthly basis through various border posts. The illegal trend has caused price distortion and compromised product quality on the market. Zambia Sugar plc managing director, Rebecca...
A TOTAL of K55.09 million revenue was realised from freight, passenger and real estate activities by the Zambia Railways Limited (ZRL) during the first quarter of this year. ZRL Chief Executive Officer, Christopher Musonda, said the parastatal recorded...
ZAMBIA can become a major supplier of agricultural products and exporter of electricity if it embraces of the use of nuclear technology, says Economist Lubinda Haabazoka. Dr Haabazoka said in an interview that some agricultural products could not make...
WITH the forecasted good rains, Zambia is likely to produce another bumper maize crop in the 2017/2018 production season, the Indaba Agricultural Policy Research Institute (IAPRI) has predicted. According to IAPRI, this development will come after the...
…but UNCTAD says it’s moderate and capable of being serviced THE Zambian Government is still in a position to service its internal and external debt of US$9.75 billion as it is among the African countries which are in the moderate debt risk distress category....
THE Zambia Chamber of Mines (ZCM) says it is concerned by the number of unsupported accusations that have been levelled at the mining industry in recent months. ZCM president Nathan Chishimba said the allegations which the mines had received were general...
ZAMBIA and other emerging export markets are expected to expand by 2.3 percent in 2017 as prices gradually recover, the World Bank has projected. The World Bank explains that the economic expansion was expected as commodity prices gradually recovered...
DEPOSITORS should ensure they check a bank’s balance sheet before opening an account with a financial institution to avoid losing money once the financial institution collapses, Professor Oliver Saasa has warned.Prof Saasa said in interview that much...
