Foreign Direct Investment in flows into Zambia fell by almost 50%

Bank of Zambia Governor Dr. Denny Kalyalya
Bank of Zambia (BoZ) Governor Denny Kalyalya says Foreign Direct Investment (FDI)  in flows fell by almost 50 percent to about US$560m in 2018. Dr. Kalyalya says the significant decline was mainly due to losses of almost US$340m mostly in the mining sector where some...

PF plans to increase fuel and electricity to unaffordable margins – UPND

HH speaking during a radio programme on SUN FM
As predicted, the PF want to increase fuel pump prices and electricity tariffs to new unaffordable margins. These services are a lifeline and engine with which any economy is driven and spurred. The adjustments will therefore have a telling effect for both big and...

KCM contractors protest over unresolved liquidation process

  Contractors at Konkola Copper Mines (KCM) in Chingola yesterday staged a peaceful demonstration with a call on the government to expedite the mining firm's liquidation process. Speaking on behalf of the contractors, Ronald Mwautene said the liquidation process has taken longer than expected, hence the...

Dutch fund for climate development launched

BoZ Deputy Governor Bwalya Ng’andu
  The government says the effects of climate change have contributed to the slowdown of the country’s economy. Minister of Finance Bwalya Ng’andu notes that there is need for concerted efforts from government and various stakeholders to mitigate and adapt to the effects of climate change. Dr...

Ireland pledges support to skills development programmes

Irish Ambassador to Zambia Seamuso Grady
  The Irish government has pledged continued support to initiatives that are aimed at providing sustainable solutions to poverty issues in Zambia. Irish Ambassador to Zambia Seamuso Grady said his government is committed to be part of Zambia’s economic development and aspiration of not leaving any...

Investors in the UK need to know about Zambia’s gold

Mines meeting addressing UK investors
Minister of Mines and Mineral Development Hon. Richard Musukwa has said that Government is confident that gold mining in Mwinilunga and other potential sites across the country will make a huge contribution to the country’s economy. And United Kingdom based company Jubilee Metals Group Plc,...

KCM Board and Vedanta granted an injunction order preventing the sale of KCM Mining Rights

On Thursday, 28 November 2019, the Lusaka High Court granted the Board of Konkola Copper Mines (KCM) and Vedanta Resources Holdings Ltd (Vedanta) an injunction order preventing the sale of KCM Mining Right areas by the KCM Provisional Liquidator – Mr Milingo Lungu –...

FInance Minister opens a Cigarette Manufacturing Plant In Lusaka

Bwalya Ngandu
Finance Minister Bwalya Ng’andu has officially opened the $25million British American Tobacco ( BAT) Zambia Cigarette Manufacturing Plant in the Lusaka South Multi-Facility Economic Zone – MFEZ- with the call for more investment in the manufacturing sector. Dr. Ng’andu says the plant represents the kind...

Agriculture Minister expresses ignorance on when the Agro Dealers will be paid

Agriculture Minister Michael Katambo
Agriculture Minister Michael Katambo has expressed ignorance on when the agro dealers will be paid the money owed to them for inputs supplied starting in 2017. Mr Katambo says he is not aware when the Ministry of Finance will release the money to dismantle the...

Zambia’s Inflation for October up to 10.8 %

Inside the new Shoprite store at EastPark Mall
The annual inflation rate in November has increased to 10.8 percent from 10.7 percent from the month of October due to an increase in food prices . Zambia Statistics Agency, interim statistician General Mulenga Musepa says the inflation rate for food and non-alcoholic beverages increased...

PF concerned by the slow pace of payments by Government to Agro Dealers

The Patriotic Front in Lusaka Province is concerned by the slow pace at which the Ministries of Finance and Agriculture are managing payments to Agro-dealers for the distribution of the farming inputs under the Farmer Input Support Programme. Party Provincial Secretary Kennedy Kamba says in...

Minister of Mines invites investors to take advantage of vast mineral resource potential in Zambia

Hon. Musukwa addressing the Mines and Money Conference in London
Minister of Mines and Mineral Development Richard Musukwa on Monday addressed Europe’s largest Mining Investment event, and invited investors to take advantage of the stable polices and vast mineral resource potential in Zambia. Giving an overview of the investment opportunities in Zambia at the Conference...

Zambia and DRC sign MOU to build Kasomeno – Mwenda toll road and Luapula Bridge project

The Kasomeno - Mwenda toll road and Luapula Bridge project
  The Kasomeno - Mwenda toll road and Luapula Bridge project will finally be taking off after the governments of the Republic of Zambia and The Democratic Republic of Congo (DRC) signed a Memorandum of Understanding on the project. Housing and Infrastructure Development Minister Vincent Mwale...

President Edgar Lungu asks Abu Dhabi to Fund Four Infrastructure Development Projects

President Lungu with Abu Dhabi Fund for Development Director General, Mohammed Saif Al Suwaidi,
President Edgar Lungu has expressed optimism that the Abu Dhabi Fund for Development will consider the country’s request to finance infrastructure development. The Zambian government has submitted four priority infrastructure development projects to the Abu Dhabi fund, for financing consideration. ZANIS reports that President Lungu expressed...

There is no reduction in load-shedding across Zambia despite Eskom Imports-Sean Tembo

Patriots for Economic Progress (PeP) President Sean Tembo
The Patriots for Economic Progress is concerned that despite the alleged importation of 300 Megawatts of electricity from Eskom by Government, there is no reduction in load-shedding across the country. Party President Sean Tembo has wondered whether the 300 Megawatts of power was indeed imported...