Public/Private partnerships critical for future development -RB

President Banda on March 4 commissioned the US$25 million modern Kasumbalesa border facility. The Kasumbalesa border post becomes the first project to be commissioned under the Public Private Partnership (PPP) initiative. Mr Banda said during the commissioning ceremony on March 4 that government recognises the role...

Mopani Copper mine accountants under investigation for ‘flawed’ tax submission

The Zambia Institute of Chartered Accountants may punish the accountants of Mopani Copper Mines Plc, a unit of Glencore International AG, if they were complicit in “flawed” tax submissions. “We need maximum cooperation from the company and if those interviewed are found wanting, necessary punitive...

Bharti’s Zambia Unit Can Buy Out Minority Shareholders, Reapply to Delist

Bharti Airtel Ltd. is allowed to buy out the minority shareholders who refused to sell their stakes in its Zambian unit, said Michael Liwelela, director of the country’s Securities and Exchange Commission. “They have the right to buy off the remaining three percent shares under...

Invest in Zambia- RB urges the US

PRESIDENT Banda has called on the United States of America to invest in Zambia because the country is one of the most attractive investment destinations in the world. Mr Banda has also appealed to the United States government to help Zambia improve its infrastructure, especially...

Parmalat opens Branch in Livingstone

Southern Province Permanent Secretary Mrs. Gladys Kristafor says that Zambia's growing investment sector will provide jobs to many youths and contribute to economic growth of the country. She said that government is encouraged every time it sees companies expanding their branches which is a...

LUSE: A Path to Financial Security

By Chanda K. Chishimba Zambians should view the Lusaka Stock Exchange (LUSE) as an investment vehicle that can lead to a better and more financially rewarding future. If invested well, your money would work excellent wonders for you in the future. LUSE affords investors an...

Tribalism in Zambia—Zambians Speak Up

This is a subject that continues to make headlines in Zambia especially with our politicians. I am not going to focus on what the politicians are saying or not saying. But let me talk about my experiences interacting with Zambians of various backgrounds, here in Zambia, what they are saying about the Tongas. For some reasons when we talk about tribalism, in Zambia, the Tonga word is almost always in the same sentence. Should it really be like that?

Windfall Tax: The Argument For

According to estimates, Zambia is able to collect as much as US$400 million annually if it was to re-introduce the windfall mineral royalty tax. With this kind of money, why should we continue to borrow or ask donors for money to enable us finance our various projects including the building and maintenance of roads, schools, hospitals as well as the improvement of our water and sanitation situation? Indeed why should we struggle to provide basic social services to our people when we have that kind of money which we have voluntarily refused to collect? Is this not a way of embracing poverty? Certainly, our leaders can do better on the issue of windfall taxes

Central Bank cautions commercial banks against abusing clients

Bank of Zambia Assistant Director, Isaac Muhanga has advised commercial banks to desist from abusing their clients’ trust as business ethics are important in supporting a stable and trusted financial marketplace. Mr. Muhanga observed that in a competitive world, financial innovation was clearly the...

StanChart on track for record profit growth

Standard Chartered Bank Zambia has said its on course to record its highest net profit growth in the 104 years of its existence in Zambia before the end of the year. Speaking at a media briefing this morning, Standard Chartered Bank managing director Mizinga Melu said the bank’s net profit this year had risen to 116 percent. “Our net profit has grown 116% translating to K93.2 billion, our balance sheet has grown 18 % which is K3,398 billion while our deposits have grown 10 % culminating into K2,664 billion.

Taxation Regime for Mining Companies

There is dissatisfaction among some segments of Zambian society that this taxation regime does not provide for adequate contribution of tax revenue by mining companies to the country’s coffers, and that the government should not have shelved the idea of a “windfall tax,” which would have provided for a charge on the sales of copper for every US$0.50 increase in the price of copper per pound on international copper exchanges.

Zambia ranked among Top 10 in doing business

Zambia ranks among the top 10 countries worldwide that have improved the ease of doing business for local firms in the past year according to the annual Doing Business Report for 2011 whose theme is ‘Making a Difference for Entrepreneurs’ released by World Bank...

Press statement on the pollution of the Kafue River

This most recent occurrence is not an isolated issue. There is a pattern of behavior where time and time again, various companies have willingly abused our environment, (and thus by default our citizens) with laughable consequences. Indeed we are looking at a much bigger problem than this one incident that will only be addressed by strengthening and expanding the role of the Environmental Council of Zambia. Our country needs to progress, and environmental protection is a critical part of our nation’s overall progress.

Government to build more hostels at the University of Zambia

GOVERNMENT will ensure that more hostels are constructed at the University of Zambia and the deteriorated roofing system is renovated with utmost urgency. Education Minister Dora Siliya said this in Lusaka yesterday during the tour of the University of Zambia Great East Road campus. She said...

Economic Growth Cheers Government

The Government says the favourable performance of the economy in several sectors such as in mining, agriculture and tourism is expected to register strong economic growth in the next half of 2011. Finance and National Planning Deputy Minister Hon. Chileshe Kapwewe said the...