Economy

Court Defers Hearing in Vedanta’s Joinder Application

The Lusaka High Court has deferred to June 4 hearing of an application in which Vedanta Resources Holdings Limited applied to be joined to the proceedings in the matter in...

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Kenyan shilling seen weaker, while Zambian kwacha has further upside

NAIROBI, May 23 (Reuters) – The Kenyan shilling is expected to weaken on the back of end-of-the-month dollar demand while the Zambian kwacha’s bullish run is set to continue. KENYA...

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EIZ Notes Shortcomings in KCM Operations, Backs Liquidation

The Engineering Institution of Zambia has backed government’s move to place Konkola Copper Mines under liquidation and has accused foreign owned mining firm of employing under qualified expatriate personnel without...

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Illegal Trading of Gemstones Worries ESMAZ

The Emeralds and Semi-Precious Stones Mining Association of Zambia (ESMAZ) has expressed worry about the increased illegal mining and trading of gemstones in the Country. Association president Victor Kalesha has...

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Kwacha Makes Dramatic Turnaround

The kwacha has made a dramatic turnaround on the foreign exchange market, closing yesterday trading at K13 against the United States dollar. Market expert expect a much stronger kwacha today,...

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Roads Upgrade Resumes in Mufulira

The upgrading of township roads to bituminous standard under the Zambia Township Roads project in Mufulira District has resumed. Mufulira Municipal Council Assistant Public Relations Manager Thandiwe Tembo said roadworks,...

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BoZ Raises Monetary Policy Rate to 10%

The Bank of Zambia has raised the monetary policy rate to 10.25 percent from 9.75 percent aimed at responding to weakening kwacha against foreign convertible currencies. Central Bank Governor Denny...

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CSOs Claim Sales Tax will Raise Poverty Levels

A consortium of Civil Society Organisations has said the implementation of Sales Tax will increase prices and the cost of doing business and ultimately raise poverty levels among Zambians. The...

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KCM Says It Hasn’t Received Notice of Govt Takeover

Indian run mining firm Konkola Copper Mines Plc (KCM) has said it has not received any formal communication from government regarding takeover of the mine. President Edgar Lungu over the...

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Maiko Zulu Commends Lungu’s Stance on Mines

Activist and musician Maiko Zulu has said Zambia stands to lose nothing by ejecting Vedanta Resources, the majority shareholders in Konkola Copper Mines, from the country. President Edgar Lungu has...

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