Nawa Mutumweno – A financial education national strategy is being developed to facilitate sufficient information in the financial sector on various aspects, the Bank of Zambia (BoZ) has revealed. Speaking at the commemoration of the World Consumer Rights’ Day in Lusaka recently, the central bank’s governor Caleb Fundanga said a dedicated working group comprising stakeholders from the public and private sectors have already made substantial progress in developing the national strategy. “Our expectation is that the draft National Strategy will be ready for discussion by the end of the year,” he said. BoZ will continue to ensure customer protection in... Continue Reading
Publish Date: Tuesday, March 22nd 2011 |
By Nawa Mutumweno, Reporting for Shout-Africa – Zambia continues to score impressive economic growth on the backdrop of prevailing high copper prices on the global market, according to the International Monetary Fund (IMF). An IMF team, headed by division chief for African department George Tsibouris was in the country recently on its routine mission to review its macro-economic performance. Zambia has performed well with continued copper high prices in addition to some improvements in other sectors such as construction and tourism. “The economy has done quite well, both in terms of economic growth and fiscal programmes. Copper output and prices... Continue Reading
Publish Date: Tuesday, March 22nd 2011 |
By Nawa Mutumweno, Reporting for Shout-Africa.com – The long-awaited COMESA Monetary Institute (CMI) meant to fast-track the realization of the regional economic bloc’s Monetary Co-operation Programme has commenced operations in March 2011. According to the latest COMESA e-newsletter, the monetary cooperation programme’s ultimate aim is to create the COMESA Monetary Union in the year 2018. The institute was officially launched on March 7, 2011 at the Kenya School of Monetary Studies in Nairobi. The creation of the CMI was decided by the 13th meeting of the COMESA Committee of Governors of Central Banks which took place in Cairo, Egypt in... Continue Reading
Publish Date: Saturday, March 19th 2011 |
By Nawa Mutumweno, Reporting for Shout-Africa.com – Zambia has attracted investment pledges valued at $2.2 billion from India, according to the country’s Ministry of Commerce, Trade & Industry. Some of the investments include Tata Group’s $20 million pumped in Taj Pamodzi Hotel while Kabwe Tannery is expected to be established into a modern leather processing plant by another Indian company. In the energy sector, Zambia Electricity Supply Corporation (ZESCO) and Tata Africa Holdings have formed a joint venture, Itezhi Tezhi Power Corporation Limited to construct a hydro power project to cost $200 million. Other Indian investments include Nava Bharat that... Continue Reading
Publish Date: Saturday, March 19th 2011 |
By Nawa Mutumweno – Exile Resources Incorporated and Barotse Petroleum Company have been granted licences to start exploration of oil and gas in the Eastern and Western provinces of Zambia, respectively. According to Mines & Mineral Development minister Maxwell Mwale, Majetu Limited will soon be given three licences to explore oil and gas in three blocks in North-Western Provinces. Exile Resources and Barotse Petroleum are expected to start exploration works after the rainy season. “At this stage, we have issued Exile to explore in Eastern and Barotse in Western, and we will soon be issuing Majetu with three licences for... Continue Reading
Publish Date: Tuesday, March 8th 2011 |
