BoZ’s Purchase of Gold will help Zambia Further Build Gold Reserves

1. Excellent!! Let’s keep our wealth and not export everything.

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   • Ok now I know where to stage my next robbery. Pa Heroes square chabe

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2. this a surely a good move by the bank of zambia

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3. a step in the right direction

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4. Gold will revamp the economy

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5. Kwena mu Zambia! Buying our own minerals sure??…………

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6. this is a very good move

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7. this is impressive

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8. This gold will surely varnish.lungu’s aim is to become the richest man in the world.

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9. Gold mining will be of great help in clearing debt

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10. this is very good

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11. Google the price of gold and find out the value of gold

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12. Our Kwacha has not moved an inch low

    Buying reserves is different than building reserves in my opinion. We need to build thru investments…

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    • Mo CK i agree with u, excess in revenue must build reserves not buying gold to build reserves when your revenues is lower than your expenditure.

      This gold applause will only be in PF circles

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13. Bank of Zambia is buying its own Gold. Why not just mine the Gold and keep it?

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14. @kci-and how do you expect ZCCM-IH to remain operational and profitable??

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15. Hooo so that governor of Bar of Zambia is just a Gold dealer? When are going to hear something better than dealing in illegally mined Gold?
    This all thing of Milingo Lungu selling Gold to drunk Mvunga will land one in a coffin.

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16. Also try cannabis for forex otherwise lwalanya when paying the Eurobond.

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    • Nkole Jimmy exactly

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17. Localize as much of the production as you possibly can. Then it will make sense. Talk to your friend Magufuli and get some ideas. If you bring in the Chinese to do it for you ni dololo tyala…

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18. This is not the first time Bwalya is saying this. UPND always feels that the government’s initiatives will be harmful to Zambians. But in reality, nothing such thing happened, in fact, millions of people express happiness towards the decisions of the government.

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19. And, few haters say that the country’s future is in danger under the leadership of President Lungu. Wake up and smell the coffee ! We are in safe hands.

20. Good move Mr. Mvunga. Thats the only way to go. Make sure non goes out and all thats acquared is reserved.

21. There is a big reason we are called the patriotic party. Excellent development. Hh was going to sell that gold to his Anglo American friends. Keep him away from the presidency

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22. In December 2019, the country has purchased gold for the first time since 1995, in order to boost foreign-exchange reserves that were decreasing. And they are increasing gold reserves for economic stability. the opposition can cry their heart out.

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23. Very well done

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24. The international market attracted to the nation and planning to invest here. Our country is on the road to economic recovery and stability. And after this, the issue will be solved, forever.

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25. This is a huge step by BOZ and surely going to benefit the economic development of this country. Now, Zambians are 100% sure that within a year or two, financial and debt crisis issues will be a thing of the past.

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26. Good step

27. The opposition party always underestimated President Lungu and his decisions on implementing schemes in the country. But, President Lungu always proved that he is the best leader and his decision to appoint Christopher Mvunga as a Governor of BOZ.

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28. This is great news gold has great potential to revamp The economy

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29. Yaba

30. Good money. On the world market gold is selling at US$ 62,582/kg. So 47kg of gold almost US$3million. Not knowing how much they spent to buy it.

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31. 25 years back, the nation had to sell its gold reserve due to the shortages of the dollar after decades of nationalization and slumping copper prices. But now things are different, Zambia is purchasing gold which is a sign of the country’s progress towards economic stability.

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32. Building strong gold reserves will have a great positive impact on the economy

33. President Lungu has promised that through an economic recovery programme all the sectors will be developed, simultaneously. There is no doubt that we are on a path of developing nation. We want President Lungu to be our leader beyond 2021. ERP IS TRULY OUR ROADMAP TO SUCCESS.GOLD RESERVES!! very futuristic.

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34. Why are we purchasing our own Gold? We should follow the Nigerian example concerning Oil drilled in that country. They never got anything because of corporate craft of not paying taxes and changed the law to say that for every barrel of oil drilled they keep half. Zambia should do the same. Russia went down a similar path and now has one of the worlds highest reserves. Please read this and adopt.

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35. Good move BOZ

36. “Mr. Mvunga who has confirmed in an interview with ZNBC News in Lusaka yesterday, but could not disclose the value of the gold.”
    LOL, its a simple matter of checking gold price per kilo online. We have a total of 2,866,248 USD.
    Additonally, please note that foreigners and thier companies are benefitting much more than our own citzens. Sad.

37. Buying your own gold.

38. Good move bank of Zambia

39. LT Editor do something about spamming on your website…you have one person posting continuously on the thread with a couple of vague words and in most cases having the facility to reply to his/her own comments via a long thread. You need to improve given that its an election year….look at your counterparts in Malawi, they have a tidy spam free comments platform on their website.
    www. nyasatimes. com/

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40. Congratulations ? ba Gold mine… We want more and more of such transactions…

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41. Good move

42. But PF has lost direction, so Gold will feed us?

43. Gold Price per Kilo $60,984 and therefore 47Kilograms is equal to 60,984*47=$2,866,248
    ~US $3M.
    Ukulyamo=?
    Hence that comment….”but could not disclose the value of the gold”

44. Who is going to ensure that this gold is not stolen from BOZ?

45. The least educated BOZ Governor! Forsake!

46. Good move boz

47. Twanwa nakabili

48. Ndora N$hiliya – Imagine such news should be accompanied by numbers ….its like going back to your wife at home dancing that you have bought a new TV..your wife wont be interested in whether the TV can make a cup tea, she would be interested in the price. Its called transparency and accountability now we have the drunkard cadre at BOZ everything is under the table.

49. Ndora N$hiliya – Imagine such news should be accompanied by numbers ….its like going back to your wi fe at home dancing that you have bought a new TV..your wife wont be interested in whether the TV can make a cup tea, she would be interested in the price. Its called transparency and accountability now we have the drunkard cadre at BOZ everything is under the table.

50. Ndora N$hiliya – Imagine such news should be accompanied by numbers ….its like going back to your wi fe at home dancing that you have bought a new TV..your wi fe wont be interested in whether the TV can make a cup tea, she would be interested in the price. Its called transparency and accountability now we have the drunkard cadre at BOZ everything is under the table.

51. How do you buy at the top. Buying Gold for Zambia is like a hedge for long-term investment against the dollar. Just concentrate on building forex to reduce the trade deficit. Please bring the Kwacha down. You’re robbing us through Inflation it’s extremely high. Our salaries don’t make sense anymore, they have drastically reduced in dollar terms.

52. what is an email address for international federation of people with albinism and blindness? Please send it to my inbox.

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