Economy

Zambian Police Arrest K1 Billion MTN Lotto Fraudster

Police in Lusaka and the Drug Enforcement Commission have formally charged and arrested the purported winner of K1 billion, MTN Summer Campaign WIN BEEG Promotion and the MTN Call Centre...

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Auditor General Reports Huge Waste at Zambia’s State-Owned Companies

The Auditor General Anna Chifungula has released a second 2010 Report on parastatals highlighting glaring irregularities and abuse of funds amounting to over K1 trillion. Some of the parastatals mentioned...

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Sata U-Turns on Expropriation of Zanaco

President Michael Sata’s special assistant for economics and development affairs, Paul Siame has clarified that government has no intentions of nationalizing the Zambia National Comercial Bank (Zanaco). “Don’t be mislead...

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PF Promises to Create 1 Million Jobs

The Patriotic Front government says it will create over a million jobs by 2016. Finance minister Alexander Chikwanda said government was working towards creating one million new jobs in the...

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Steep Interest Rates Holding Back Investment

A Zambian investor who has invested in China and employed more than 5,000 Chinese workers but is refusing to invest back home because of high interest rates.  A recent disclosure from...

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Zambian Government Panics over Looming Fuel Shortages

Zambia has imported 100, 000 tonnes of petrol this week to mitigate scenes of shortages recorded in the last few weeks following the shutdown of Indeni Petroleum Refinery. But energy...

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DBZ Denies Canceling Debt of Post Newspaper

The Development Bank of Zambia (DBZ) says it has never received instructions from any quarters to write off the money which is subject of a case involving the bank versus JCN Holdings Limited, Post...

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Chikwanda: Govt will not kill the mining sector

The Zambian Government will continue to maximise collection of revenue from the mining sector without killing the “goose that lays the golden egg”, says finance minister Alexander Chikwanda. Chikwanda said...

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Oil Tendering Process Should Be Review – Transparency International

The government must immediately review the ongoing oil tendering process to allay fears of political interference, says Transparency International Zambia president Reuben Lifuka. Lifuka’s comments come in the wake of...

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Zambia Bans Maize and Wheat Exports

The government has banned the export of maize and wheat bran in a move aimed at protecting the local livestock sector. Announcing the ban today, agriculture minister Emmanuel Chenda stated...

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