Dangote Kicks-Off U.S.$400 Million Zambia Cement Plant Construction

Nigerian Conglomerate, Dangote Industries Limited, has extended the frontier of its businesses in Africa with the launch, last weekend, of a new $400million dollar cement manufacturing plant in Zambia. According to a statement made available to THISDAY, the ground-breaking ceremony in Masaiti near Ndola, Zambia’s manufacturing hub, witnessed by top government officials, ministers, and business […]

Mopani Confirms Arrival Of A US$26m Converter At Mufulira Site

The 26 million US dollar worth 132 tonne convertor owned by Mopani Copper Mines (MCM) arrived safely at its Mufulira site on Saturday morning. The converter arrived at Richards Bay, South Africa, from India on 21st June and crossed into Zambia on Saturday 16th July at the Kazungula Border post. According to a statement released  […]

Financing Scheme For Small Businesses Launched

A 5 million dollars financing facility, for micro, small and medium businesses, has been set up. This is under the initiative of the Zambia Development Agency (ZDA) and the Development Bank of Zambia (DBZ). ZDA Director of MSMEs, Windu Matoka has confirmed the setting up of the Zambia Enterprise Development Fund. Mr Matoka has observed […]

Foreign and Local Money Market Update

Market liquidity was recorded at K558.6Bn on Thursday, dipping by K148.7Bn from the previous session K272.1Bn was traded on the interbank market at an average rate of 4.36%. On Wednesday, K269.5Bn had been traded at a weighted average rate of 4.26%. K250Bn was on offer in the weeks Treasury bill tender. Bids totalled K203.5Bn and […]

ZRA To Acquire An Integrated Tax Administration System

The Zambia Revenue Authority (ZRA) has disclosed that it is in the process of acquiring an integrated tax administration system with E-payment and E- filling Interface Solutions as part of its on going modernization process. ZRA assistant director Medium Tax office Northern Region Jevson Phiri disclosed this during the first ever national stakeholder engagement workshop […]

Musokotwane Clarifies Lower Middle-Income Status

Finance and National Planning Minister Situmbeko Musokotwane has described the classification of Zambia to the lower Middle Income status country by the World Bank as a clear manifestation that government’s economic policies are materializing. Speaking to Journalists in Lusaka this morning, Dr. Musokotwane said this classification means a reduction in donor Aid to Zambia and […]

Banks have sabotaged local economy – CUTS

ZAMBIA’s economy has been sabotaged by the banking sector due to the bank’s failure to inject enough liquidity in circulation as a result of higher interest rates, observes the Consumer Unity Trust Society (CUTS) International. Commenting on BoZ Governor Caleb Fundanga’s concern over low competition in the banking sector, CUTS International Zambia acting coordinator Simon […]

Government Ran Out Of Finances For Projects – Musokotwane

FINANCE minister Situmbeko Musokotwane says the country has a backlog of infrastructure development that needs to be addressed immediately. Musokotwane said in interview that the government was unable to find money to offset the backlog that had characterised almost all the towns in the country hence the move to channel mining taxes towards infrastructure. He […]

FRA Refutes Reports Of Kenya Rejecting maize

ZAMBIA is yet to export maize to Kenya, says the Food Reserve Agency. In an interview, FRA marketing information coordinator Joseph Mulambu dismissed reports that the Kenyan government had rejected maize from Zambia. Mulambu said talks on maize exports to Kenya were still under way contrary to media reports that the Kenyan government had rejected […]

Tally Population Growth To Economy,UN Tells Zambia

The United Nations Population Fund (UNFPA) says Zambia needs to work hard to ensure that the country’s population growth tallies with the growth of the economy. UNFPA country representative Duah Owusu- Sarfo says the economy is expected to triple more than the growth of the population as this is key in fighting poverty but that […]