Economy

Key Insights Into The The Bank Of Zambia’s Interest Rate Cut

On Wednesday, the Bank of Zambia cut its key interest rate for the first time in more than two years to counter the impact of the Coronavirus on the economy,...

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Zambian Breweries Continues To Support Local Farmers

As one of the largest buyers of agricultural produce in Zambia, the company is creating a much-needed market for the farmers, which is particularly important in the challenging environment amid...

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Government To Prioritise Gold Over The US Dollar – BoZ.

Zambia’s US dollar reserves have been under pressure following the perpetual depreciation of the local currency – the Kwacha. Servicing US dollar denominated external debt has been ballooning as more...

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Gold Mining Commences in Rufunsa

Consolidated Gold Company Ltd Commences Phase One Of The Gold Processing Project In Rufunsa. The Phase involves ten (10) gold milling plants with a processing capacity of 30 tonnes of...

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Kagem Mine Withdraws Housing Allowances

Barely a month after committing to pay both housing and basic salaries to its workers sent on forced leave, Kagem mine has withdrawn housing allowances. Kegem mine had sent its...

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Inflation Pushed To 15.7% By Price Increase In Food And Non-Food Items

The inflation rate as measured by the all items on the Consumer Price Index for April 2020 has increased to 15.7%, up from 14% recorded in March 2020. It means...

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Rio Signs $51m Earn-in On Zambia Copper Deposits

Rio Tinto (NYSE: RIO) has entered into an earn-in and joint venture agreement with Vancouver-based junior Midnight Sun Mining (TSXV: MMA), under which the Anglo-Australian miner can earn up to...

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Continued Demand For Dollar Puts Stress On The Kwacha

Month-end obligations by corporates are expected to reverse the current market tone on the foreign exchange market, FNB Zambia has predicted today. The Kwacha seems to have aligned with international...

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The NRFA Falls Short On Its 2020 First Quarter Revenue Target

The National Road Fund Agency (NRFA) has failed to meet it’s 2020 first quarter revenue target by 20 percent after it collected only K328.5 million in toll fees instead of...

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Grizzly Mining sends Workers On Paid Forced Leave

Grizzly Mining Company in Lufwanyama District on the Copperbelt has with immediate effect sent half of its workforce on forced leave in the wake of the Covid-19. Human Resource Manager...

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