By Nawa Mutumweno – An enabling policy environment and increased private sector investment underpinned Zambia’s incredible resilience to the recent global financial crisis. It is a stark reality that the country emerged as one of the best performers in what was one of the worst recessions in recent times. Against an initial projection of 4.4 percent, the Zambian economy grew by 6.4 percent in 2009, the highest recorded during the last decade. On top of this, inflation slumped to single digits, while international reserves grew to record levels of over five months of import cover. Definitely as the five-year Fifth... Continue Reading
By Nawa Mutumweno – There is a revolution in the Zambian banking circles with cellphones being an integral tool in accessing one’s account anywhere anytime, something that was a dream a few years ago. Now mobile banking is no longer a fleeting illusion but a stark reality. Gone are the days when one had to stand in a line for hours on end just to get a bank statement or balance. Today, banking flows like clockwork and service is only a click of a computer mouse away. Mobile banking services have made banking a pleasure by reducing transaction costs, improving... Continue Reading
By Nawa Mutumweno – The Bank of Zambia (BoZ) has taken over Finance Bank Zambia Limited (FBZL) with effect from Friday, December 10, 2010. According to the central bank governor Caleb Fundanga, a new management has since been appointed to run the affairs of the bank with customers and staff being assured that the bank would continue to operate normally. Speaking at a press briefing, Dr Fundanga said the takeover was with the full approval of the BoZ board of directors based on the inspection findings at Finance Bank and aimed at protecting the interests of depositors and other creditors... Continue Reading
By Novell Zwange – Doha, QATAR – The luxurious airliner, Qatar Airways today announced an expansion of its East African network with 12 additional flights across two capital cities – Nairobi and Dar Es Salaam. The daily Doha – Nairobi flights have increased to 12-flights-a-week. From January 3, an additional two flights will take capacity up to double daily. The expansion comes after five successful years of operations to Kenya’s capital city. The Tanzanian capital, Dar Es Salaam, currently served daily, will receive an additional four flights a week from January 2. An additional flight from February 14 will take... Continue Reading
By John Zyombo – At the time of decentralization in the Democratic Republic of Congo higher taxation in the province of Southern Kivu has become a spirited major handicap to economic recovery after a period of recession caused by repeated wars and the economy in response to difficult economic planning that meets not the country’s economic problems. Businessmen in the country continue to disapprove the fees structure of the province that is the advantage of the authorities Provincial and to the detriment of those who are totally asphyxiated and prefer to clear their goods in the province neighbouring North Kivu... Continue Reading
