Category Archives: Business

LUNGU DIRECTS CHANGES TO NEW MINERAL ROYALTY TAX

PRESIDENT Edgar Lungu has directed the Minister of Finance and Minister of Mines and Minerals Development to effect changes to the 2015 Mineral Royalty Tax by 8th April 2015. In letters to the two ministers today, President Lungu stated that … read more »

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PTA Bank has no intention to stop financing Zambia

PTA Bank has confirmed that it reminded Ministry of Finance over Zambia’s outstanding debt accumulated from crude oil financing, but says it does not intend to stop dealing with the country. PTA Bank stated that Zambia’s outstanding debt was affecting … read more »

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BOZ to curb Kwacha depreciation – Kalyalya

BANK of Zambia (BoZ) Governor Denny Kalyalya says the central bank will take necessary measures to curb the depreciation of the Kwacha. He said BoZ has already instituted measures such as open market operations to stabilise the Kwacha. Dr Kalyalya … read more »

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Government procures enough fuel to sustain the country – Yaluma

Energy Minister Christopher Yaluma says Government has succeeded in containing the fuel shortage that recently hit some parts of the country. Mr. Yaluma says government has procured enough fuel to sustain the country for a considerable period of time. The … read more »

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Kwacha now hits K8 per dollar

The Zambian Kwacha continued fairing badly against the major currencies this week, by closing og business on Friday the US dollar was selling at K7. 79 and buying at K7.64. The British Pound was selling at K11.49 and buying at … read more »

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Nyamuka Zambia Business Plan Competition Officially Launched

  The Minister of Commerce, Trade and Industry Honourable Margaret D. Mwanakatwe, MP says the Private Sector, Civil Society, Training Institutions, Development Partners and entrepreneurs should synergize interventions and join hands with the Government of the Republic of Zambia to … read more »

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GOVT ANNOUNCES THE REDUCTION OF WHOLESALE MEALIE MEAL PRICES

Government has announced the reduction of wholesale mealie meal prices. Agriculture and Livestock Minister Given Lubinda says millers have agreed to reduce the wholesale prices from a maximum of K61 breakfast mealie meal to K56 per 25kg bag saying the … read more »

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UK minimum wage rise to £6.70 an hour up by 20p

The national minimum wage will increase by 20p an hour to £6.70 from October, the government has announced. The changes will benefit more than 1.4 million workers. The hourly rate for younger workers will also rise, and for apprentices it … read more »

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FITCH DOWNGRADES OUTLOOK ON ZAMBIA FROM POSITIVE TO STABLE

Fitch Rating agency has revised Zambia’s long term outlook to Stable from Positive but affirmed its ‘B’ rating. The agency also noted that policy coherence and credibility are weak and a growing constraint on the rating. In a statement, Fitch … read more »

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