African Development Bank set $700 million aside for the private sector for diversification of Zambia’s economy

AfDB president, Akinwumi Adesina
The African Development Bank (AfDB) has set $700 million aside for the private sector for diversification of the country’s economy. AfDB President Akinwumi Adesina says the money is for three sectors of the economy namely agriculture, energy and movement from copper dependency. Dr Adesina said there...

Nchanga Smelter planned shutdown successful, restart on course!

Konkola Copper Mines Plc (KCM) announces that the planned shutdown of its Nchanga Smelter that began in early October is progressing well with the restart of operations currently scheduled for 19th November 2019. The Company’s smelter undertook its fifth major maintenance shutdown since it was...

Farmers Union Frustrated by the Raging Load Shedding that is targeted at Farmers-Zimba

Jervis Zimba
The Zambia National Farmers’ Union lead the engagement with all levels of Government because of farmers’ good intentions to produce and guarantee grain availability in the country instead of importing. The Zambia National Farmers Union says all efforts to grow early maize to boost...

Zambia owes South Africa’s ESKOM R89milion

ZESCO owes South Africa's state owned power company -Eskom R89million in outstanding payments. This was revealed in the South African parliament when Public Enterprises Minister Pravin Gordhan responded to a question posed by the Democratic Alliance(DA). Zimbabwe Electricity Supply Authority (Zesa Holdings) owes Eskom R322m, Electricidade...

UPND 5 year $1.5 billion Personal & SMEs Tax Reform Plan

By Anthony Bwalya - UPND Member Now more than ever, the United Party for National Development (UPND), in keeping with one of our fundamental founding principles - that of putting people back at the heart of economic growth and development; is committing to delivering a...

African Continental Free Trade Area agreementnot a threat on revenue collection

the agreement to establish the African Continental Free Trade Area
The World Customs Organisation of East and Southern Africa has dispelled fears that the coming into effect of the African Continental Free Trade Area agreement (AfCFTA) is likely to affect revenue collection among countries in the African region. Director of the World Customs Organisation East...

Electricity tariff hike by 113% is inevitable -ERB

The Energy and Regulation Board says the migration towards cost reflective tariffs in the energy sector is inevitable for ZESCO and the economy. ERB Board Chairperson Raymond Mpundu who officially opened the ERB public hearing on the ZESCO application to vary electricity tariffs...

Zambia can not depend on hydro-electricity- UNZA Vice Chancellor

University of Zambia Vice Chancellor Prof. Luke Mumba says there is need to invest in alternative energy sources in Zambia so as to carter for those living in rural areas. Speaking during the renewable energy solutions for rural Zambia workshop this morning Professor Mumba says...

Xenophobia affects Shoprite’s profits

SHOPRITE CONDEMNS XENOPHOBIC ATTACKS IN SOUTH AFRICA
JOHANNESBURG - Shoprite, one of South Africa's biggest retailers, says xenophobic violence has had an impact on its profits in the rest of Africa. In its operational update for the quarter ending in September, Shoprite says it'll be conducting a performance review. Sales in the...

Kariba faces decommissioning

Kariba dam under rehabilitation
Zimbabwe’a Power company Zesa has recorded its lowest power generation capacity at Kariba in years amid fears that the country’s main source of electricity could be decommissioned this month. According to statistics posted at Zimbabwe Power Company (ZPC) website on Friday, Kariba Power Station was...

Government to Pay $20 million to Maamba Collieries Limited for ZESCO Arrears next week-Finance Minister

Maamba collieries thermal power plant engineers captured busy working in the 300 mega watts power plant.
The Ministry of Finance is next week expected to pay 20 million United States dollars to Maamba Collieries Limited. Finance Minister Bwalya Ng’andu says the money is meant to dismantle outstanding arrears ZESCO owes Maamba Collieries Limited for power. Dr. Ng’andu was speaking in an interview...

ZRA above target on Revenue collection-Chanda

ZRA Commissioner General Kingsley Chanda
Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda says the Authority is currently above target in raising revenue for the country. Mr. Chanda says the Authority has from January to October 2019 beaten the government target of 44-point One-two billion kwacha by 1-point 2 billion. The...

BOZ Chief calls for effective ways of linking informal and formal banking services

The Bank of Zambia (BOZ) has called for effective ways of linking informal and formal banking services to improve financial inclusion. BOZ Governor Denny Kalyalya says new financial services such as village banking and savings groups have proved to be effective financial service provider agents...

The Lusaka Road Decongestion Project to be completed 9 months a head of Schedule

Dr. Chomba inspecting Road works in Lusaka
AFCONS Infrastructure Limited the company working on the Lusaka Road Decongestion Project says the project will be completed nine months before the set target. Company’s Project Manager Subrata Bandyopadhyay has told the Ministry of Local Government Permanent Secretary Dr. Eddie Chomba that the project which...

Zambia’s initiative to engage cooperating partners is yielding results-Finance Minister

Finance Minister Bwalya Ng’andu says the expression of goodwill and willingness by various cooperating partners is a sign that the government’s initiative to engage them is yielding results. Dr. Ng’andu adds that the willingness by France, the United States of America and other Cooperating Partners...