Tag Archives: companies

ZAMBIA: Business Review by Uncle Mike

WRONG MOVE BY BOZ…WHO OWNS FOREX? > The current wrangle caused by Bank of Zambia (Boz) to introduce a bill to control foreign exchange outflows and inflows is a big blow to a liberalized economy. The move by our bank … read more »

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Mines Minister condemns dismissal of 11 senior managers at KCM

Mines, Energy and Water Development Minister Yamfwa Mukanga has condemned the dismissal of 11 senior managers at Konkola Copper Mines (KCM) in Chingola without giving them reasons. Mr Mukanga said it was professionally wrong to dismiss an employee without giving … read more »

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Kambwili happy with response from companies bidding for the construction of the Mongu stadium

Sports Minister Chishimba Kambwili says he is happy with the overwhelming response from companies bidding for the construction of the Mongu stadium. Kambwili has also disclosed that government through the relevant channel will soon advertise tenders for the construction of … read more »

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Chinese companies told to follow Zambian laws

Chinese Ambassador to Zambia Zhou Yuxiao has described as an exceptional case, the revocation of Column Coal Mine’s mining licenses and the subsequent takeover by government. Ambassador Zhou says the case is exceptional noting that many Chinese owned companies operating … read more »

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Diplomatic Relations Up, Reputation Down

Two pieces of news almost came at the same time this week. BBC reported on 20 February that the Zambian government has taken over the running of the Chinese-owned Collum coal mine and cancelled all of its three licences, as … read more »

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Zambia’s longest-serving finance minister explains how multinationals avoid taxes

MULTINATIONAL companies are avoiding taxes by inflating their operational costs through the involvement of many foreign firms in transactions, says Ng’andu Magande. Meanwhile, Zambia Sugar has denied engaging in illegal practices aimed at reducing the amount of taxes paid to … read more »

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Kwacha reaches the lowest in almost four year

Zambia’s kwacha retreated for a third day, reaching the lowest in almost four years, amid speculation mining companies refrained from selling dollars in the market. The currency of Africa’s biggest copper producer fell 0.5 percent to 5.3772 a dollar as … read more »

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ZAMBIA: Approved exploration licences to boost mining

THE approval of 27 mining and exploration licences by the Zambia Environmental Management Agency (ZEMA), is expected to boost the country’s copper production capacity, Association of Zambian Mining Exploration Companies (AZMEC) has said. AZMEC said it was now expecting ZEMA … read more »

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Zambia Fiscal Policy Hurting Mining Growth – Mining Body

Zambia’s copper mining sector faces a future of diminishing returns as higher taxes and costlier energy bills conspire to threaten growth, the head of the country’s mining industry body said Friday. Fredrick Bantubonse said in an interview with Dow Jones … read more »

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