Buumba Chimbulu
-
Mar- 2023 -25 MarchHeadline News
STOP MOCKING ZAMBIANS, MUNDUBILE TELLS KAWANA
THE opposition has been angered by the alleged mockery of Zambians on mealie meal prices by the United Party for Development (UPND) through the Ministry of Information and Media, Director – Spokesperson Thabo Kawana. Leader of the Opposition in Parliament Brian Mundubile said Mr Kawana should stop mocking Zambians over the high mealie meal prices.Mr Mundubile said this was because President Hakainde Hichilema had promised that he would reduce the cost of mealie meal to K50 per 25 kg bag of mealie meal when he was begging for votes to become president.Mr Mundubile regretted that Mr Kawana was mocking Zambians…
Read More » -
9 MarchHeadline News
RTSA warns motorists illegally using emergency lights
THE Road Transport and Safety Agency (RTSA) has warned motorists that it is against the law to use turret or emergency lights on a motor vehicle without lawful authority. It has further warned that it would be enforcing the law against the increasing abuse of the blue beacon by unauthorised institutions and individuals not mandated by law or trained in defensive driving techniques who pose a danger to ordinary road users. This is according to the RTSA acting Head-Public Relations Mukela Mangolwa in a statement issued yesterday in Lusaka. Mr Mangolwa said the RTSA had noted with dismay the rampant…
Read More » -
7 MarchEconomy
Government introduces measures to attain SDG’s
GOVERNMENT has put in place several interventions in various sectors to support attainment of the Sustainable Development Goals (SDGs) in the country. This is according to the Finance and National Planning Minister Situmbeko Musokotwane. Dr Musokotwane therefore appealed for innovative approaches for development financing to ensure progress on the SDGs. He said this in a speech read by Permanent Secretary for Planning and Administration, Lois Mulube. “We appreciate the support rendered to the Government by the United Nations (UN) Family through the Fund in supporting budget and expenditure analysis. “This included the facilitating stakeholder engagement, a study on implementation of…
Read More » -
4 MarchBusiness
Increasing Jet A-1 fuel will have adverse effects – CAA
THE Civil Aviation Authority (CAA) has warned that increasing the prices of Jet A-1 fuel would have adverse effects on the operational costs for the airline industry. CAA has therefore welcomed the non-increment of prices on Jet A -1 fuel as announced by the Energy Regulations Board recently, describing the decision as bold. CAA Board Chairperson Patrick Nkhoma, said increasing the prices of Jet A-1 fuel would affect the operational costs for the airline industry and ultimately increase the cost of doing business. “If the present challenge of aviation fuel is not fully addressed, we would have a situation where…
Read More » -
Feb- 2023 -16 FebruaryBusiness
BoZ squeezes more money from circulation
THE Bank of Zambia (BoZ) has further squeezed liquidity in the economy by lifting the benchmark cost of money for the first time since November 2021. This is meant to curtail a slide in the Kwacha that is placing upward pressure on inflation rate. Recently, the Central Bank raised the statutory reserve ratio on commercial banks deposit liabilities by 2.5 percentage points to 11.5 percent as an additional measure to minimise exchange rate volatility. Yesterday, the BoZ Governor, Denny Kalyalya announced that the Central Bank Monetary Policy Committee had decided to increase the policy rate to 9.25 percent from nine…
Read More » -
16 FebruaryBusiness
Technology on cryptocurrency on the cards – Mutati
GOVERNMENT is testing technology to enable regulation of cryptocurrency in the country. The testing is being done through the Security Exchange Commission (SEC) and Bank of Zambia (BoZ), says Technology and Science Minister Felix Mutati. Cryptocurrencies are digital currencies that use blockchain technology to record and secure every transaction used as a digital form of cash to pay for everyday items. The system however does not require a central authority as its state is maintained through distributed consensus. But Mr Mutati said while cryptocurrency was the future the country desired to achieve, there was need for a policy framework that…
Read More » -
2 FebruaryBusiness
Saving for Zambia’s capital markets hits K75bn
Total savings for the Zambian capital markets have increased by 8.05% to over K74.8 billion last year supported by positive macro-economic and financial market fundamentals.
Read More » -
Jan- 2023 -25 JanuaryEconomy
US calls on China – over Zambia’s debt restructuring
The United States has insisted that all Zambia’s major bilateral official and private creditors, including China should meaningfully participate in the debt relief.
Read More » -
13 JanuaryBusiness
Government starts 2023 national budget execution
GOVERNMENT has this month released K1.8 billion to finance public service delivery from the 2023 national budget. Minister of Finance and National Planning, Situmbeko Musokotwane said execution of the 2023 budget had commenced on a smooth note. Dr Musokotwane said this in a statement issued on Thursday to update the nation on the funds released. “Since the start of the year a few days ago, the Treasury has so far released a total amount of K1.8 billion to finance public service delivery,” he said. Dr Musokotwane stated that K668.6 million had been released to service debt, both domestic and external.…
Read More » -
3 JanuaryHeadline News
No Load shedding; There’s load shedding – Zesco
ZESCO has finally admitted that the load management announced in December last year is in fact load shedding and Zambians will as of today start experiencing what the power utility company has termed planned rotational Load Shedding exercise. There had been several conflicting statements from Zesco and government including President Hakainde Hichilema about the load shedding, the Head of State announcing that his government had ended load shedding while his Energy Minister Peter Kapala told the nation that Zambians would be subjected to Load Management. But load shedding is now back and Zesco is attributing the power deficit in the…
Read More »