Economy

The Zambian Government is on course with the economic reform and transformation agenda despite the country's power supply and fiscal space constraints, Finance Minister Dr BWALYA NG'ANDU has said. Making a presentation to Zambia's financial asset investors on the sidelines of the 2019 Annual Meetings...

Economics Association of Zambia president Dr Lubinda Habazoka has called on South Africa businesses operating in Zambia to increase the use of local banking services. Dr Habazoka has said the use of local banks will help foreign businesses sustain their investments in Zambia. He was speaking...

Economist Chibamba Kanyama has urged the Zambian delegation attending the World Bank/IMF Annual Meetings in Washington DC to approach the meetings seriously. Mr Kanyama said the team led by Finance Minister Dr. Bwalya Ng’andu and his counterpart at Planning Alexander Chiteme should not use the...

  Finance Minister Dr BWALYA NG'ANDU says observations raised by the public on the 2020 Budget have helped to structure and sharpen Zambia's resolve to address public concerns ahead of the planned engagements with bilateral and multilateral cooperating partners at the ongoing 2019 Annual Meetings...

Power Utility Company Zesco has announced there will be increased load shedding countrywide from 19th October 2019 for a period of 12 days due to the limitation of power generation. This follows the taking out of service of one generating unit at Maamba Collieries Limited...

Minister of Mines and Minerals Development Honourable Richard Musukwa has reiterated that the suspension of the new procurement method at Mopani Copper Mines still stands. Mr. Musukwa said that the new procurement method called “Mopani’s contractor optimization programme,” disadvantages Zambian Citizens and is contrary to...

President Edgar Lungu has emphasized on the need to support local content in the country's film industry. President Lungu has noted that Zambians must realize that the film industry can be a good source of income if well harnessed. He says the film industry is also...

The Auditor General’s report for the financial year ending December 31, 2018 has highlighted failure to collect K418 million in revenue as the highest irregularity for the period under review. Head of Public Relations in the Office of the Auditor General Ellen Chikale says the...

Minister of Agriculture Hon. Michael Katambo has stated that Zambia’s agriculture sector is expected to produce over 3 million metric tones of maize in the 2019-2020 farming season, and an increase of about 3.5 million metric tones in the 2020-2021 farming season. He said going...

The Zambia Tax Platform is concerned with the measures set out in the 2020 national budget aimed at stimulating the domestic economy. Zambia Tax Platform Coordinator Ibrahim Kamara says it is evident that the private sector in the country has continued to struggle despite being...

The Zambia Revenue Authority is pleased with the new VAT measures proposed in the 2020 budget by the Minister of Finance Dr. Bwalya Ng’andu. ZRA Commissioner General Kingsley Chanda said the decision by Government to maintain the Value Added Tax will be implemented by the...

Transport and Communications Minister Mutotwe Kafwaya has challenged the Zambia Information and Communications Technology Agency to start sanctioning mobile phone service providers that are providing below par services.Mr Kafwaya said ZICTA should start getting tough on service providers that flout standard of service guidelines. He...

China Minmetals, Jiangxi Copper and Zijin Mining are among the firms weighing to bid for Canadian mining firm Barrick Gold’s Lunwana copper mine in Zambia. If the deal materialises, the mine could be worth approximately $1bn. China Molybdenum and Aluminum Corp were also invited to take...

The Council of Ministers from Zambia and Tanzania has resolved to finance the re-capitalization of the Tanzania-Zambia Railways. During a meeting held in Dar-es-salaam, the Council of Ministers notes that the performance of Tazara remained below break-even point and therefore requires immediate action to...

President Edgar Lungu says government is doing every possible to address the power deficit the country is experiencing. The President has observed that the power deficit is impacting negatively on agricultural production and other economic sectors. Meanwhile, President Lungu says the Zambian government has embarked on...