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.
GOVERNMENT has reduced the export duty on unprocessed timber from K10 per kg proposed in the 2017 national Budget to K1 per kg with immediate effect.Timber Association of Zambia (TAZ) president Charles Masange said in an exclusive interview that his organisation...
BUSINESSES should utilise the Electronic Fund Transfer (EFT) mode for any invoices above K25,000 following the limits on cheques put in place by the Central Bank, says Bankers Association of Zambia (BAZ). According to the Item Value Unit issued by the...
GOVERNMENT should introduce a depositor protection scheme among local banks to protect investors, says the Zambia Union for Financial and Allied Workers (ZUFIAW) ZUFIAW president Ackim Mweemba said in an interview that the absence of such a scheme currently...
ZAMBIA’S copper production for 2016 is expected to hit 740, 000 tonnes, mainly supported by greenfield mining projects, says the Zambia Chamber of Mines (ZCM). ZCM acting chief executive officer, Talent Ng’andwe, explained in an interview that greenfield...
A MEALIE meal deal between Zambia and the Democratic Republic of Congo (DRC) yesterday failed to take place after Minister of Agriculture, Dora Siliya, and her permanent secretary Julius Shawa failed to ink the memorandum of understanding (MoU) in unclear...
THE new Taxpayer Identification Number (TPIN) requirement should be removed from the 2017 national Budget to allow the industry consult with the Zambia Revenue Authority (ZRA), the Bankers Association of Zambia (BAZ) has said. The TPIN is a unique 13-digit...
BROADER financial inclusion and services cannot only benefit the poor, but also coincides with greater local economic activity and decreased economic inequality at the macro-economic level. Financial inclusion is a delivery of financial services at affordable...
MPULUNGU Harbour Corporation handled 38,090 metric tonnes of exports during the first quarter of 2017 compared to 15,931 MT in the same period in 2016. The harbour is wholly owned by Government and manages the Mpulungu port on Lake Tanganyika. The port...
THE cost of borrowing and servicing loans in Zambia is expected to reduce following the Bank of Zambia’s (BoZ) decision to cut its benchmark lending rate by 150 basis point. The BoZ has reduced its monetary policy rate to 12.5 percent from the previous...
TALKS between Government and the International Monetary Fund (IMF) for a possible economic bailout programme will soon be concluded with about 95 percent work done, the Ministry of Finance has announced. And the ministry has announced that the IMF team...
THE International Monetary Fund (IMF) package will offer a blank cheque of incentives for all multi-nationals operating in Zambia without significant benefits to locals, says Private Sector Development Association (PSDA) chairperson Yusuf Dodia. Mr Dodia...
THE African Legal Support Facility (ALSF) and the Institute for Public Private Partnership (IP3) have signed a Memorandum of Understanding (MoU) to enhance cooperation related to capacity building services offered in African countries. Speaking at the...
ZAMBIA is among 16 African countries to benefit from the four agriculture and forestry sector risk participations amounting to US$62 million under the Private Sector Credit Enhancement Facility (PSF) approved by the African Development Fund (ADF). The...
JEUNESSE GLOBAL, a multi-billion dollar company which deals in anti-aging products, has been launched in Zambia with an investment of over US$50,000. According to company representative Joshua Shaw, Jeunesse Global was one of six companies in history...
AFFORDABLE interest rates on loans and advances is cardinal in improving cash flows in an economy, thereby encouraging investments, a senior research fellow at the Zambia Institute for Policy Analysis and Research, (ZIPAR) Caesar Cheelo has said. Mr Cheelo...
A TOMATO processing plant worth US$1.5 million planned for Lusaka by the Zambia Cooperative Federation (ZCF) will be commissioned this year. ZCF director general, James Chirwa, said plans to set up the tomato processing plant had advanced, saying the...
THE shrinking of the regional agricultural market is likely to impact on prices for commodities such as maize and soya beans during the 2017/2018 marketing season, Centre for Trade Policy and Development (CTPD) has observed. CTPD acting executive director,...
THE Kwacha on Monday broke the K9.300 per dollar psychological barrier, a level last seen in April 2016, when it touched a high of K9.200 / 9.250 on Interbank. The local currency posted further gains against the dollar during Monday's trading session....
…both companies inherited the US$100M and will settle it amicably ‘‘ZCCM-IH is not here to kill the Konkola Copper Mine (KCM) by taking them to court as the action was undertaken because we are answerable to our shareholders,’’ says company chief executive...
DESPITE Zambia and Zimbabwe being Africa’s pioneers in establishing a One-Stop-Border Post (OSBP) - the Chirundu border, the two countries have not been able to fully realise the benefits that comes with such an important facility. OSBP aim to eliminate...
INDO-ZAMBIA Bank (IZB) says it is optimistic Government will successfully acquire the US$1.3 billion package from the International Monetary Fund (IMF) owing to positive local economic indicators. IZB managing director, Maheshkumar Bansal, said positive...
A CONSORTIUM of Italian and French investors have set aside US$2o million to set up a tin mine in Southern Province. Operations for the Daled Tin Ore are set to kick start in the second week of November while full production was expected to start in January...
STANDARD Chartered Bank has introduced a new product as part of its efforts to revolutionize digital banking in Zambia. This new feature allows customers to log into SC mobile using Biometric (fingerprint) technology, making mobile banking access even...
YIELDS on Government securities, particularly the bonds, last week edged higher by over 3 percent owing to reduced liquidity in circulation. And the Kwacha is this week expected to trade in the range of K10.000-K10.050 against the dollar with a biased...
OVER K6.4 billion is estimated to be circulating outside the banking sector because Zambia is a cash economy thereby creating a shortage of funds for productive sectors, says the Bankers Association of Zambia (BAZ). A cash economy is where goods and services...
