BoZ Closes 3 Micro Finance institutions

THE Bank of Zambia (BoZ) has closed and placed two micro finance institutions (MFIs) under compulsory liquidation due to insolvency. This entails that an organisation, or individual, can no longer meet its financial obligations with its lender or lenders as debts become due. BoZ named Commercial Leasing Zambia Limited and Genesis Finance Limited into compulsory […]

Kwacha Continues To Gain

Kwacha Continues To Gain

The Kwacha has continued on the positive bend which begun in last week’s trade. The local currency has opened the week trading between 9.85 and 9.90. According to the ZANACO Bank Daily Treasury update, the gain has been prompted by the interbank dollar trade and the tight kwacha liquidity in the markets. The bank further […]

Dodia Optimistic of Kwacha Rebound

Dodia Optimistic of Kwacha Rebound

Lusaka based Economist Yusuf Dodia is optimistic that the country will overcome its current economic challenges. Mr. Dodia says that the situation in Zambia is not as bad as the media is reporting. He says he is hopeful that the performance of the Kwacha on the international market is likely to improve even more in […]

AB Bank Zambia Hits K. 100 Million Milestone!

With Zambia’s economy trembling, the country’s population continues to look for financial security. Through all this, AB Bank Zambia has managed to achieve very ambitious but attainable milestones, for example hitting K. 100 Million in credit portfolios. Armando Sirolla, the Banks CEO said this achievement show cases the exceptional and quality performance of the bank in […]

Zambia Imports 100MW From Docked Turkish Ship

Zambia Imports 100MW From Docked Turkish Ship

ZAMBIA has started importing 100 megawatts (MW) of power on a daily basis from a ship docked in Nacala, Mozambique, which was commissioned in February, says Zesco acting managing director Fidelis Mubiana. Mr Mubiana said in an interview that Zambia had for the last two months been importing power from the docked ship inaugurated in […]

Standard Chartered Bank Zambia Charged by LUS

Stanchart Zambia Plc fined K4m for non compliance with Luse Rules on 25% free float Standard Chartered Bank Zambia Plc under the guidance and leadership of Andrew F Okai and Chairman Michael Mundashi sc has been given a 14 day ultimatum to pay K4m as the penalty fee for failing to increase their free float […]

Kwacha Slides to K9.70

THE kwacha’s depreciation against major currencies has continued as demand for US dollars on the local market continues to outweigh supply, according to financial market players. This has put the local unit under pressure and trading between K9.70 and K9.72 per dollar at the end of the first week of May, according to Bank of […]

Lafarge Zambia Plc And Total Zambia Launched Dual Branded Container In Ndola

Dear Editor, Lafarge Zambia Plc and Total Zambia launched a dual branded container in Ndola, Copperbelt on 9 March 2016. This is a modern container, which is the first of its kind in the Copperbelt, and demonstrates Lafarge Zambia’s drive to find meaningful solutions that cater to the needs of customers.   The launch was held at Itawa, Total filling station […]

Egypt Air Eyeing Zambia Again

Egyptian Ambassador to Zambia Ragai Nasr says a delegation from Egypt Air will be coming to Zambia mid this year to discuss with authorities on the resumption of flights into the country. Ambassador Nasr who is also Permanent Representative to COMESA says Zambia is an important country because there are a lot of Egyptian businessmen […]

Kwacha To Remain Stable

The Kwacha is likely to remain stable in the first trading week of 2016. Zambia National Commercial Bank-ZANACO says the local currency is likely to face mild depreciation as market activities resume. Monday the local unit is expected to trade between 10-kwacha 95 ngwee and 11-kwacha 15 ngwee. This is contained in a daily treasury […]

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