By Nawa Mutumweno – Airtel has set up over 150 base stations across the country in the last three months and would shortly roll out another 100 masts as part of the $150 million investment committed to network expansion. According to Airtel Zambia chief executive Fayaz King, the country’s leading mobile telecommunications firm is poised to grow from the current 68% coverage to about 80% by the end of the year. “We have already set up 150 sites in the country, 100 more will be rolled out by the end of March,” Mr King pointed out. The company has embarked... Continue Reading
Publish Date: Tuesday, March 8th 2011 |
By Nawa Mutumweno – The Zambian government is to spend about $2 million to host the 10th edition of the African Growth Opportunity Act (AGOA) Forum scheduled for Lusaka from June 6 – 8, 2011. This is the first time Zambia is hosting the forum which will attract about 2 000 delegates from America and the 37 AGOA-eligible countries to promote trade and investment between the continent and the USA. According to Ministry of Commerce, Trade & Industry senior economist Healey Mweemba, the AGOA initiative by the American government is key to enhancing trade, widely recognized as an important factor... Continue Reading
Publish Date: Monday, March 7th 2011 |
By Nawa Mutumweno – Zambia recorded $4 791.6 million ($4.7 billion) investment pledges in 2010 which is expected to create over 22 000 jobs when fully executed, according to the Bank of Zambia (BoZ). The central bank governor Caleb Fundanga told a press briefing on Friday, February 18, 2011 that last year investment pledges rose by 138% as compared to the $2 008.4 million recorded in 2009. “The pledges when fully executed are expected to generate 22 532 jobs with the highest contribution from services at 12 763 jobs followed by agro-processing at 5 860 jobs. The rest were manufacturing... Continue Reading
Publish Date: Sunday, March 6th 2011 |
By Nawa Mutumweno – Zambia Revenue Authority (ZRA) has launched a 24-hour customs electronic system to facilitate easier payment of import taxes and duties without travelling to the port of entry. According to ZRA commissioner of customs services, Muyangwa Muyangwa, the development would facilitate smooth movement of goods and services. “We expect good response from customers as they will no longer travel to the border whenever good arrive. Instead, immediately payment is made, the border will be notified and goods will be cleared to pass through at all border points,” he elaborated. ZRA is working with three banks – Zanaco,... Continue Reading
Publish Date: Friday, March 4th 2011 |
By Nawa Mutumweno- Chambishi Copper Smelter on the Zambian Copperbelt has embarked on a $250 million expansion programme to double its annual output starting next year. According to CCS deputy chief executive officer Fan Wei, the increase in annual production capacity from 150 000 to about 300 000 tonnes of blisters and 340 000 tonnes of sulphuric acid was expected to satisfy rising demand. The company had engaged some state of the art ‘ISA technology’ from Australia to satisfy its clientele which includes Lumwana Copper Mines, Luanshya Mine, NFCA and Chibuluma. The expansion programme was already on course with the... Continue Reading
Publish Date: Friday, March 4th 2011 |
