Daily Archives: Mar 15, 2014

STATE PROMOTES VALUE ADDITION

VICE-PRESIDENT Guy Scott says the Government is promoting high level investment in value-addition to enhance business linkages in the country’s economy. Dr Scott noted that it was only through value-addition that Zambia could be able to enhance linkages at various … read more »

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DISSOLVE FFTUZ, DEMANDS NUMAW

NATIONAL Union of Miners and Allied Workers (NUMAW) president James Chansa says the Federation of Free Trade Unions (FFTUZ) should be dissolved for failing to audit its books of accounts. But FFTUZ national executive secretary Lyson Mando says no amount … read more »

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DAD BURNS DAUGHTER OVER FISH

A FIVE-YEAR-OLD girl of Mpulungu District in Northern Province has been burnt by his father over buka fish. The, child identified as Mwila Namboa of Chipili Village in Chief Nsokolo’s area in Mupulungu District, had both her hands doused with … read more »

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ACC PROBES UNZA REHAB CONTRACT

THE Anti-Corruption Commission (ACC) has instituted investigations into the contract awarded to Dee Ja Construction to rehabilitate lecture theatres at the University of Zambia (UNZA). ACC spokesperson Timothy Moono said the commission had received reports of corruption in the manner … read more »

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CATHY, MANYUCHI WIN TITLES

CATHERINE Phiri is the World Boxing Union (WBC) Women’s bantamweight Silver champion. It took Catherine just three rounds to take her special place after battering her German opponent Pia Mazelanik in this lopsided fight to win the title which is … read more »

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Youths urged to emulate late Nkole’s bold graft fight

Youths in the country have been advised to emulate the caliber of the late former Home Affairs permanent Secretary Maxwell Nkole’s boldness in the fight against corruption. Zambia Youths Association in the Fight Against Corruption (ZYAFAC) Executive Director Rickson Kanema … read more »

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Political activist Mbita Chitala has welcomed the Bank of Zambia (BoZ) decision to injected US$178.0 million into the market as a measure to moderate the volatility in the foreign exchange market and support the relative low supply of foreign exchange in the country. This measure follows the recent weakening of the Kwacha against major currencies reaching a new landmark of K6 against one dollar last week. But Dr. Chitala says the long term measure to strengthen and stabilize the country’s currency is for the country’s economy to be more productive by having more exports so that it continues to record more foreign exchange. Dr. Chitala has singled out the copper mines as one area where the country needs to earn more foreign exchange. And Dr. Chitala has observed that the introduction of the BoZ Statutory Instrument (SI) No. 55 of 2013 may also have created anxiety the reason why there has been alleged capital flight in the country’s economy where companies are now shifting their assets from Zambia to offshore accounts where there is confidence. He say this could be the reason why there is a lot of Kwacha facing very scarce dollars in the country a situation which says may have even prompted the Central Bank to inject the US$178.0 million as per normal procedure to moderate the volatility in the foreign exchange market. The Political activist has told Qfm news that this implies that SI 55 may have not been managed well as its implementation appears to have been an ambush on the country’s businesses. He says this is why there is need to create confidence in the country’s economy to avoid a situation where the BoZ interventions are perceived to be controls.

Political activist Mbita Chitala has welcomed the Bank of Zambia (BoZ) decision to injected US$178.0 million into the market as a measure to moderate the volatility in the foreign exchange market and support the relative low supply of foreign exchange … read more »

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Continued reshuffles of Cabinet may only prove to be musical chairs – Mutesa

The opposition Zambians for Empowerment and Development (ZED) says it does not expect much change in terms of addressing the challenges being faced by the people of Zambia from the recent reshuffles that have been made to the Patriotic Front … read more »

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3 JAILED OVER IVORY, LECHWE CARCASS

A HIGH Court in Kasama has sentenced two people to five years in prison for being in possession of elephant tusks prescribed as Government trophy by law. Another convict was slapped with a five-year sentence for being in possession of … read more »

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