Economy

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...

Government, through the Ministry of Transport and Communication, has released K200 million for the construction of a passenger bus terminal at Mulamba Harbour in Mongu district. Mulamba Harbour Master, Washington Nkhonjela, said the construction of the terminal would commence as soon as tendering procedures are completed. Mr....

By Tovin Ngombe The Small Scale Irrigation Project (SSIP) has observed that sedimentation has become a serious problem at Buleya Malima irrigation scheme on Lake Kariba in Sinazongwe district. Sedimentation which is a process where small particles that are moved by run off water settle...

The Government has introduced a voluntary medical scheme for public service workers following an agreement with the public service unions, Zambia Daily Mail reported Monday. Employees and the government will be required to contribute 40 and 60 percent of the subscriptions respectively, said the report. The...

Lusaka - China had offered Zambia tariff-free market access for its products and would allow its citizens to borrow investment capital from the Bank of China, finance minister Ng'andu Magande said yesterday. Chinese firms had started feasibility studies on how $800 million (R6 billion) in...

Chinese President Hu Jintao on Saturday offered Zambia a multimillion dollar investment package aimed at boosting ties. Facing mounting accusations of Chinese exploitation of African labor and resources _ an issue during last year's Zambian presidential elections Hu Jintao stressed that Beijing...

The Zambia Government has told Chambishi Metals plc it must shut down its cobalt smelter for 45 to 60 days in order to make repairs following an explosion last month in which its circuit was damaged. The accident, which happened on January 21, is costing...

The Zambian government and French oil major Total SA (TOT) are set to invest up to $65 million in the country's sole petroleum refinery, Indeni, in the next five years as the country seeks to stabilize fuel supply to its vast copper mines, according...

Zambia continues to amass accolades for its burgeoning mining sector. The latest news is that Equinox Minerals’ Lumwana project has been awarded Mining Deal of the Year by Project Finance International (PFI) at the PFI Annual Awards Dinner held recently in London, England. The...

Sinazongwe farmers from Chuunga in senior Chief Mweemba area have called on government to construct a road, School, Clinic, and boreholes to save them from difficulties they are facing. Chuunga area which has more than 400 hundred people have been having no School, clinic,...