By Nawa Mutumweno – President Michael Sata has expressed profound gratitude to the international investor community for the massive support for the country’s first sovereign bond. This is testimony of the confidence placed in Zambia by financial institutions in the United States, Europe and Asia, resulting in the bond realisation of $750 million, exceeding the $500 million which was originally planned, according to a statement by President Sata’s special assistant for press and public relations George Chellah. ‘’The achievement of the first bond being oversubscribed establishes Zambia as a very credible investment destination and that our country has a vibrant... Continue Reading
Publish Date: Sunday, September 23rd 2012 |
By Nawa Mutumweno – Economic growth is expected to remain robust in 2012 at around 7.7 percent and inflation to remain close to 6 percent, with the Government planning to widen the fiscal deficit (but reduce net domestic borrowing) and have tightened monetary policy in line with achieving these objectives. Economic conditions remain favourable and there has been little impact to date from the European crisis. Zambia has achieved sustained high growth and macroeconomic stability over the last decade, but poverty remains high. Inflation has declined to single-digit levels, international reserves have grown to a comfortable position, and debt is... Continue Reading
Publish Date: Sunday, September 2nd 2012 |
By Nawa Mutumweno – Zambia is on course to achieve economic prosperity with a number of pragmatic steps being put in place to facilitate sustainable development. Minister of Information and Broadcasting Kennedy Sakeni told the media recently that the Patriotic Front (PF) has scored a number of successes since taking over Government in September 2011. ‘’The re-instatement of the Abuse of Office Clause in the Anti-Corruption Act is one such achievement by the current Government. The clause has not only strengthened the fight against corruption but has restored donor and investor confidence in the country’s economy and governance,’’ he pointed... Continue Reading
Publish Date: Sunday, September 2nd 2012 |
By Nawa Mutumweno – Five investors have expressed interest in the development of the $223 million power transmission inter-connector project to link Zimbabwe, Zambia, Botswana and Namibia (ZiZaBoNa). According to a statement issued by SADC Secretariat Water Division and Infrastructure Service Directorate communications officer Barbara Lopi, the potential investors revealed their interest in the project at a recent investors’ roundtable held in Swakopmund, Namibia recently. The project which is being promoted as part of SADC regional integration has the capacity to increase power trading among participating utilities in addition to providing an alternative route and assist decongest the existing central... Continue Reading
Publish Date: Sunday, September 2nd 2012 |
LUSAKA, 10 August 2012 (IRIN) – “This is like a prayer answered for me. Our government has really done well to remember us, to think about us,” Priscilla Mwemba, a domestic worker in the Zambian capital Lusaka, told IRIN after the government imposed non-negotiable minimum wage scales that will more than triple the 22 year old’s monthly salary. “Since I am a resident maid, I am paid 150,000 Kwacha [about US$30] per month. My friends [other domestic workers] who report [for work] every morning and knock off in the evening receive up to 250,000 Kwacha (US$50) sometimes. Madam says I... Continue Reading
Publish Date: Thursday, August 16th 2012 |
