By Nawa Mutumweno – Chinese investment turnover in Zambia is set to hit $1.4 billion by the close of 2010, raking in $40 million revenue for the Zambian government. According to Chinese ambassador to the country, Li Qiangmin, 13 enterprises have settled under the Zambia-China Economic and Cooperation Zone (ZCCZ), realizing $780 million in investment and a turnover of $770 million in 2009. He was speaking during the end of year media briefing on Tuesday, December 21, 2010 in Lusaka. “The turnover will hopefully reach $1.4 billion this year and rake in $40 million as revenue and create 4 000... Continue Reading
Publish Date: Thursday, December 23rd 2010 |
By Nawa Mutumweno – Konkola Copper Mines (KCM) is to inject fresh investments in its operations of about $1 billion to raise copper output to 400 000 tonnes per annum by 2012. The mining giant’s chief executive officer Kishore Kumar disclosed thay these investments to take place in the next three to four years would focus on expansion and upgrade to propel KCM into the major global copper producer realm. Funds would be spent on the Chingola Refractory Ore project, development of the bottom shaft loading facility at the Konkola Deep Mining Project (KDMP), East and West Mill upgrades at... Continue Reading
Publish Date: Thursday, December 23rd 2010 |
By Nawa Mutumweno – ZAMTEL is investing $23 million to install Next Generation Network (NGN) exchanges in a bid to move away from the old analogue fixed line exchange technology. According to information obtained from the company’s corporate communications department, the move was aimed at upgrading and modernizing fixed line infrastructure across the country. The telecom firm has since embarked on Phase One of decommissioning all old analogue landline exchanges and replacing them with the NGN exchanges. This migration from analogue technology to “more intelligent exchanges” would enable customers to get the benefits of additional features on their landlines such... Continue Reading
Publish Date: Wednesday, December 22nd 2010 |
By Nawa Mutumweno – The metropolis of Lusaka is abound with numerous facades that have sprouted as landmarks in the central business district (CBD) and beyond in the past few years. Standing magnificently in the centre of town is the architectural masterpiece, Central Park, that has added to the scenic beauty of the capital. Further afield, one’s line of sight is invaded by the must-visit Manda Hill Shopping Complex which has just undergone a massive expansion programme. These building, to mention but a few, have provided the impetus for mammoth investments in the construction sector with new developments springing up... Continue Reading
Publish Date: Monday, December 20th 2010 |
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
Publish Date: Monday, December 20th 2010 |
