Economy

Works and Supply Minister, Kapembwa Simbao, has disclosed that Government is scouting for K12 billion towards assisting flood victims in various parts of the country. Speaking in a telephone interview, Mr. Simbao told Zambia News and Information Service that the flood situation in the country is...

Government says it would support investments that  are inclined to providing solutions to the complex issues that have fuelled stagnation of  the development efforts in various sectors of the economy. And Celtel managing Director, David Venn, says his organisation has invested over K60 billion on the...

Farmers in Magoye constituency have cried foul over the bridge which is at the verge of collapsing. Dumba Settlement Farmer  Association  representative Ackson Mainga  said the bridge is on the verge of collapsing  due to heavy rains experienced in the area. He disclosed that more than 1,000 farmers...

Government  says it is in the process of creating a treasury department at the Ministry of Finance and National Planning that would strengthen the fight against pilferage of public resources and cyber fraud. Ministry of Finance Permanent Secretary in charge of finance management and administration, Mbikusita...

The Civil Servants Union of Zambia (CSUZ) Mansa Branch has expressed sadness over the four percent salary increment offered to  civil servants by government. CSUZ Mansa Vice District Chairman Stephen Sinkamba  told ZANIS in a press statement in Mansa today that the increment did not equate...

Government has directed the Food Reserve Agency(FRA) to work out stringent measures aimed at revamping crop marketing operations. Agriculture and Cooperatives Minister Ben Kapita said in Kabwe that government had presented a 13 point letter containing suggestions on how to improve crop marketing to FRA. Addressing...

First Quantum Minerals (FQM) has proposed to construct a 32- kilometre road to connect Solwezi to Kolwezi in the Democratic Republic of Congo at a cost of US$4 million. Briefing stakeholders at a meeting held at Floriana Lodge yesterday, FQM Survey v Consultant Ian Robinson...

Mbala Chambers of Commerce and Industry has petitioned the Food Reserved Agency (FRA) over delayed payments to local Transporters who werecontracted to ferry maize from different buying centers to Omnia depot Chambers of Commerce and Industry Chairman Peter Mutale told ZANIS today that local Transporters...

The Zambia Electricity and Supply Corporation (ZESCO) says it is owed over K60 billion Kwacha in unpaid electricity bills from people living in former Mine  townships on the Copperbelt. And the Energy Regulation Body (ERB) has called on the Media to publicise the challenges and constraints...

THE Zambia Revenue Authority (ZRA) realised K6.4 trillion from various taxes with Pay-As-You Earn (PAYE) contributing K1.9 trillion. The taxes that contributed to the ZRA revenue were that of Income Tax, Value-Added-Tax (VAT), Customs and Excise as well as Mineral Royalty Tax. According to the estimates...

A class action has been taken against Scacom Ghana Limited, operators  of Ghana’s biggest mobile phone network, Areeba, for violating relevant  provisions of the National Communications Authority (NCA) Act and  bregulations for high quality of service. The action comes in the wake of two legal...

Forum for Democracy and Development (FDD) President Edith Nawakwi has maintained that the sale of the Zambia National Commercial Bank (ZANACO) 49 percent shares to Rabobank of the Netherlands was done fraudulently. Ms Nawakwi says the Zambian Law does not allow any foreign company to...

The Common Market for Eastern and Southern Africa (COMESA) has organised a Food and Agricultural Marketing Information System (FAMIS) workshop in Lusaka. More than 200 stakeholders in the agriculture sector would attend the workshop that would mark the unveiling of FAMIS. The stakeholders sensitization workshop, which will...

LUSAKA Stock Exchange (LuSE)'s market capitalisation grew by 52 per cent in 2006, representing a K13 trillion increase from 11 per cent registered the previous year. In dollar terms, the market capitalisation grew by 30 per cent to reach US3.2 billion. Market capitalisation is the average...

The Zambia Electricity Supply Company (ZESCO) has signed a power supply agreement involving US$2.2 million with Albidon Zambia Limited company. Speaking at the signing ceremony in Lusaka today, ZESCO Managing Director Rodnie Sisala said ZESCO would construct a 33 KV line from Kafue town substation...