Zambia, Zimbabwe Seal $4 Billion Power Deal

Zambia, Zimbabwe Seal $4 Billion Power Deal

President Michael Sata who is on a State visit to neighboring Zimbabwe yesterday together with his counterpart Robert Mugabe witnessed the signing of the MoU on co-operation to jointly construct a US$4 billion 1,650 megawatt hydro-power station at the Batoka Gorge. The two Memorandums of Understanding signed were of Co-operation in Tourism and Youth Development. […]

BoZ International Reserves Drop

ZAMBIA’s gross international reserves have dropped to US$2.317.7 billion in March from US$2.371.4 billion in February this year, says the Bank of Zambia (BoZ) . BoZ head of public relations Kanguya Mayondi says the foreign reserves declined slightly to 3.2 months of import cover in March. This means that in the event of a major […]

K100 To Be Highest Kwacha Note

The K100 note will be the highest denomination when the kwacha is rebased this June. Deputy bank of Zambia governor Dr Bwalya Ngandu announced. Dr Ngandu disclosed that the K100 note will be like a K100,000 note. The other notes will be 50 Kwacha, 20 Kwacha, 10 Kwacha, five Kwacha and two Kwacha Dr N’gandu […]

Zambia’s economy, positive – BOZ

The Bank of Zambia says the country’s economic performance in the last six months has been positive. This is despite the country witnessing a change of government about six months ago. Deputy Governor of operations Bwalya Ng’andu has told QFM news that the sustained single digit inflation rate and the positive economic growth are a […]

Government To Fire Lusaka Water And Sewerage Company Senior Directors

Government To Fire Lusaka Water And Sewerage Company Senior Directors

Senior directors from Lusaka Water and Sewerage Company whose contracts are coming to an end are living in fear that they may not be re-engaged following an indication from management  that president sata’s core mandate of paying back to  his supporters in last elections is favors and job  offers. One of the directors that spoke […]

Accelerate Awareness Campaign On Kwacha Rebasing, Government Urged

The Zambia Episcopal Conference (ZEC) has called on government to accelerate the awareness campaigns and update Zambians constantly on the progress made with regards to the rebasing of the local currency. In an interview with Qfm news in Lusaka, ZEC secretary General Father Cleophas Lungu said government must ensure that the process does not disadvantage […]

Prof Saasa Says Ban On Raw Copper Unrealistic

Local Economist Oliver Saasa says it will be unrealistic for government to ban the exportation of raw copper as it accounted for a major stake of the country’s export revenue. Reacting to Commerce, Trade and Industry Minister Bob Sichinga’s recent statement that Government will ban firms exporting raw copper as a way of encouraging value […]

Zanaco In 32% Deposits Growth

ZANACO’s has posted an impressive 32-per cent growth in its 2011 deposits with the year end figure rising to K3.4 trillion from about K2.6 trillion the previous year. Releasing the 2011 performance results, Zanaco managing director Martyn Schouten said the impressive growth in the deposits was a result of a number of creative relevant products […]

Rebasing Won’t Strengthen The Currency Says UNZA Don

A professor of economics at the University of Zambia has charged that rebasing the Kwacha on the basis of strengthening the local currency is misdirected. Professor Vanken-tesh Seshamani, a lecturer in the school of Economics says rebasing the currency will not change anything in the country’s economy. Professor Sesha-mani has told Qfm news in an […]

FNB Zambia Officially Launches Makeni Branch

FNB Zambia successfully launched their Makeni Branch earlier this morning at the Makeni Mall. In attendance was the bank of Zambia Deputy Governor, Dr. Bwalya Ng’andu. Below the FNB CEO’s Speech,a press releaseSPEECH BY SAREL VAN ZYL, CHIEF EXECUTIVE OFFICER OF FNB ZAMBIA LAUNCH OF THE FNB ZAMBIA MAKENI BRANCH MAKENI MALL THURSDAY, 29 MARCH […]

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