Chinese Company blacklisted by World Bank after winning Zambian project

The World Bank has debarred a giant Chinese state owned contractor for 20 months for making false claims when bidding for a project in Zambia. China Energy Engineering Group Hunan Electric Power Design Institute (CEEC-HEPDI) will be ineligible to participate in World Bank-financed projects during...

Zambia/Zimbabwe assured of improved business linkages

Minister of Commerce, Trade and Industry, Hon. Christopher Yaluma
Minister of Commerce Trade and Industry Christopher Yaluma has assured the business community in Zimbabwe and Zambia that the government is working tirelessly towards enriching the business environment that exists between the two countries. Speaking when he officiated at the Zimbabwe-Zambia Business...

Zambia Airports Corporation declares a K5 million dividend to the Government

inance Minister Dr. Bwalya Ng’andu reaffirms Government’s tenacity to put resources to good use.
The Zambia Airports Corporation Limited (ZACL) has declared K5 million dividend to the Government through the ministry of finance as a shareholder for the period ending December 2018. And speaking when he received the dividend cheque from the ZACL Vice Board Chairperson Prisca Chikwashi, Finance...

FIC Boss John Kasanga fired

Finance Minister Dr Bwalya Ng’andu has appointed a new board of the Financial Intelligence Centre, replacing the one led by Mr John Kasanga. In a statement released to the media, Minister of Finance, Dr. Bwalya Ng’andu said President Lungu has appointed a new board for...

Fitch expects tighter cash squeeze, interest rates to reach above 11% in 2020

Fitch Solutions Group Ltd, a UK affiliate of Fitch Ratings has projected that the Bank of Zambia (BoZ) will implement further monetary tightening over the coming quarters in an effort to contain inflationary and exchange rate pressures. In a note, Fitch also forecast that the...

Zambia Chamber of Mines says that Zambia’s Copper Production will drop by 100, 000 tonnes

Chamber of Mines Chief Executive Officer Sokwani Chilembo
The Zambia Chamber of Mines has projected a 100,000 tonnes drop in copper production this year. Chamber of Mines Chief Executive Officer Sokwani Chilembo adds that Zambia’s mining industry is also expected to drop-off the global top ten Copper producers list. He says the forecasted...

Maize smuggling is a serious threat to national food security-Katambo

Ministers- Katambo, Chiteme and Mwakalombe, PS Mushuma and Director Lishomwa, 21-02-2019. MNDP
Agriculture Minister Michael Katambo says his Ministry is closely monitoring maize stock levels to ensure that the country has sufficient grain to last us until the next harvest. Mr. Katambo said his Ministry is not allowing the export of maize and maize products and other...

There is need to build a proper foundation if Zambia is to have a nuclear power plant-Msiska

Zambia Atomic Energy Agency (ZAMATOM) Director General Roland Msiska
Zambia Atomic Energy Agency (ZAMATOM) Director-General Dr. Rowland Msiska has said there is need to build a proper foundation if Zambia is to have a nuclear power plant and that the Center for Nuclear Science and Technology is important for the transformation of Zambia...

Zambia Association of Manufacturers welcomes the importation of Additional Electricity

ZESCO Muzuma substation being upgraded to KV 330 (from KV 220) in order to be connected to the national grid as soon as the Maamba coal plant station is commissioned
The Zambia Association of Manufacturers (ZAM) has welcomed the planned importation of electricity from neighboring countries. ZAM vice president Chipego Zulu says the move will allow industries to continue operating without any disturbances. Ms. Zulu, however, states that any increase in tariffs as a result of...

ZESCO loses over 1 million Kwacha as a result of vandalism-Mundende

ZESCO MD Victor Mundende delivering his remarks.
The Zambia Electricity Supply Corporation (ZESCO) has announced that it has lost over 1 million Kwacha as a result of vandalism on its property in the first quarter of 2019. And Company Managing Director, Victor Mundende says the theft and vandalism of the...

Zambia invests K1.4 billion in digital infrastructure

Deputy Secretary to Cabinet Christopher Mvunga
The government has reaffirmed its commitment towards embracing digital technology in an effort to accelerate economic growth in the country. Deputy Secretary to Cabinet Christopher Mvunga said the government has so far invested over K1.4 billion in digital infrastructure development with a view of being...

10,000 hectare Palm Oil Farm To Be Set Up In Luapula

Consolidated Farming Limited, has announced it will be setting up a large -scale palm oil processing industry in Luapula Province this year. Company Director Essof Alloo has disclosed that the firm will invest US$ 200 million in the project which will have a 10 thousand...

Zambia Chamber of Mines salutes Zambia/Argentina proposed cooperation

The Zambia Chamber of Mines has applauded the suggestion by Zambia’s Ambassador to Argentina, Alfreda Mwamba, that the mining association should consider a Memorandum of Understanding with its Argentine counterpart, the Camara Argentina de Empresarios Mineros (CAEM). Opportunities abound for the two Chambers to learn...

Government extends travel ban to senior public service officers in line with the austerity measures

Dr Simon Miti
The government has announced the indefinite extension of the travel ban for senior public service officers in line with the austerity measures that have been put in place to attain fiscal stability and restore the economy. Secretary to the Cabinet, Simon Miti announced in Lusaka...

Japan Prime Minister warns Africa about debt as China grows presence

President Edgar Chagwa Lungu (left) being welcomed by Japanese Prime Minister Shinzo Abe at his residence in Tokyo,Japan on Wednesday,December 19,2018. PICTURE BY SALIM HENRY/STATE HOUSE ©2018
Japan's prime minister on Thursday warned African leaders against accumulating too much debt, in an apparent reference to Chinese infrastructure projects that some blame for damaging the finances of developing nations. Addressing leaders from several African nations at a development conference in Yokohama, Shinzo Abe...