Economy

Zambia’s Ministry of Health Receives $100m Grant; Promises Accountability

Health Minister Dr Joseph Kasonde today received a K500 billion (about US$100 million) Global Fund single stream financing with a renewed pledge to total accountability. Speaking at the signing ceremony...

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PF Promises ‘Flawless’ Implementation of 2013 Budget

Government spokesperson Kennedy Sakeni says that the Patriotic Front will deliver on expectations of the 2013 budget that will be released this Friday. Speaking in Lusaka today, Sakeni said the...

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Zambia’s Free-Falling Currency Slumps to Near all Time Low

Zambia’s currency, the kwacha, has slumped to a near all time low dropping to its lowest in more than three months against the dollar. The currency of Africa’s biggest copper...

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Erratic Power Supply Affecting Business in Zambia

Multi-national mobile communication company, Airtel, has become one of the first big corporations to openly complain at the erratic power supply by Zesco under the PF regime which is attributed...

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Mkushi Stands to Get $62 million for Copper

Mkushi Copper Joint Venture (JV)Limited will invest about US$62 million to develop a large-scale copper mine in Mkushi district with the firm expected to commence pre-production once government cancels the...

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Zambian Bank, Cavmont, Declares K5.2 Billion Loss

Cavmont Bank has recorded a loss after tax of K5.2 billion for the six months period ending June 30 owing to declining lending margins experienced by the banking industry. The...

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Zambia’s Main Airport Plunged in 4-Hour Power Outage

The Kenneth Kaunda International Airport in Lusaka, the country’s major port of entry, was Tuesday evening plunged into an over four-hour power blackout. A plane that landed in the midst...

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Zambia’s Oil Refinery Prepares for 21-Day Shutdown

Zambia’s oil refinery, Indeni, will shut down in the next seven days deferring for the second time what it calls routine shutdown operations. The Ndola-based refinery was, according to the...

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Congested Kasumbalesa Goes 24 Hours Soon

The Kasumbalesa border post will soon start running on a 24-hour basis in order to speed up the heavy flow of traffic, Minister of Commerce, Trade and Industry Bob Sichinga...

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Lusaka High Court Refuses to Re-examine Banda-Locci Case

A Lusaka High Court judge has refused to re-examine a case involving Andrew Banda and Italian businessman Antonello Locci saying there are no constitutional matters in the case to be...

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