Mining Developments, 2nd Edition
Gemfields Plc, producer of about a fifth of the world's rough emeralds, says revenues from its February auction in Zambia were a record $36.5 million. The February auction of rough emeralds and beryl...
View ArticleFitch Affirms Zambia's Rating at 'B'
Editor's note: Fitch today affirmed Zambia's credit rating at 'B', suggesting the outlook remains stable despite significant deterioration in public finances. It appears slightly dated with respect to...
View ArticleGovernment responds to the falling Kwacha
Editor's note: Finance Minister Alexander Chikwanda this morning gave a press conference on the state of the economy at which he delivered the speech below. The speech is designed to restore investor...
View ArticleSaving the Kwacha : Additional BOZ Measures
In the midst of revoking SI 55 and SI 33 another piece of monetary news did not get much media coverage. [I may separately return to the abrupt SI changes in future posts].The Bank of Zambia (BoZ) last...
View ArticleSaving the Kwacha : Abolition of SI 55
Zambia is a very funny country. One would have expected the removal of Statutory Instrument 55 ("SI 55") to be properly analysed by people with pros and cons. Instead what I have heard and read so far...
View ArticleThank You, Chikwanda!
I have been writing on economic issues relating to Zambia for many years now. And I can confidently say that this is the most exciting time to be a Zambian economist for more than a decade. Why do I...
View ArticleDesperate Zambia gambles on bond finance
Editor's note : The Financial Times (UK) reported this week that Zambia is looking to tap the bond markets. The Government is undeterred by a crumbling currency, worsening fiscal deficit and rising...
View ArticleZambia Debt Watch
Zambia recently borrowed $14 million from Kuwait in order to set up a new teacher training college in North-Western Province. The loan agreement will last 24 years, preceded by a 4 year grace period....
View ArticleIncome and Wages Policy
Editor's note : A good editorial in the Daily Nation on an important issue. It is telling though that the Daily Nation believes that it has to quote the World Bank to substantiate a very basic point....
View ArticleFixing Broken Councils
Municipal councils around the country are currently electing new mayors and deputies, with district councils electing chairpersons and deputies. The new office bearers are being elected by councillors,...
View ArticleTransport Developments
The long awaited Chipata –Mchinji railway line is now operational after stalling over three decades. It is now operating with a locomotive and 51 wagons. ZRL is working towards having 200 wagons...
View ArticleZambia's New Eurobond
Zambia has finally launched its US$1bn 10-year Eurobond at a final yield of 8.625%, according to government sources. The bond was allegedly oversubscribed by US$4.25bn, much lower than last time. The...
View ArticleEnergy Developments
GRZ is currently importing expensive finished petroleum products through tankers hired by foreign suppliers Trafigura and Dalbit. According to Energy Minister Christopher Yaluma the arrangement is...
View ArticleConstitution limbo
I would like to state here that if we are going to have a referendum as it seems to be the case, the legal process leading us to that cannot be completed before the year 2016. A referendum under our...
View ArticleA waste of resources
Zambia Union of Journalists (ZUJ) has called on the Government to bail out state media workers (e.g. Daily Mail, Times of Zambia). It draws its membership from the state media. ZUK president James...
View ArticleComing Clean!
"We are creating very few jobs...the direct employment from the mining sector is only 1.7 per cent...Go to the Copperbelt, look around and what you see is a ghost town in many ways. Everything has...
View ArticleDebt Worries
“Our debt situation is becoming unsustainable and if you look at the country’s economic report of last year, the external debt is at US$3.5 billion, and if you look at the Bank of Zambia first quarter...
View ArticleMealie Meal Prices
It is very shocking that a bag of mealie-meal is very high in the country and I have already met ZNFU and I am yet to meet MAZ in order to resolve this matterWILBUR SIMUUSA MP(Agriculture Minister)The...
View ArticleFuels Prices Rise
ERB last week released the following press statement :The Energy Regulation Board (ERB) has increased the pump price of petroleum products by 7.22% for petrol, 8.75% for diesel and 9.54% for kerosene,...
View ArticleAnalytical Comedy
I came across this comment in the Times of Zambia by a "concerned citizen" (whatever that means) :"The increase in fuel prices by the Energy Regulation Board (ERB) last week cannot be blamed on the...
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