Newly appointed Zambia National Building Society – ZNBS Chief Executive Officer Ms. Mildred Mutesa.
Author: The Editor
LUSAKA (The Business Telegraph):- Africa’s second largest copper producer Zambia is in the middle of a liability restructure as it seeks to restore fiscal fitness. The red metal producer hired French Investment banking firm Lazard Freres to assist reprofile the Southern African nations debt whose burden has widened given disease pandemic that worsened its economic malaise. Grappling with a currency rout, anemic growth and rising inflation various stakeholders look to the 2021 fiscal estimates of revenues and expenditures to be presented by the MinFin head Dr. Bwalya Ng’andu on Friday 25 September. Barely a week to the budget presentation on…
Zambia’s delegation during the celebrated $750million debut sale in 2012.
LUSAKA (The Business Telegraph):- Cabinet in Africa’s copper producer Zambia on the 21 September approved an Economic Recovery Plan – ERP starting 2021 which will set the tone for the Medium Term Expenditure Framework replacing them Economic Growth Stabilization Program – EGSP of 2017-2019. Cabinet also approved the 2021 budget to be presented by the Minister of Finance on Friday 25 September. The Zambian authorities will seek to restore the budget; enhance domestic resource mobilization; improving economic and fiscal governance, ensure greater economic stability, growth and job creation; and scale up social protection programs, the memo carried. Zambia’s 2021 budget…
LUSAKA (The Business Telegraph):- It is the most spoken about investment option in the informal sector. Savings groups have successfully penetrated the formal sector with the C-suite class . Increased appetite is driven by high returns and lean liquidity access costs compared with having to secure a bank loan that requires collateral and attracts a higher interest cost. Savings groups in Africa’s copper producer Zambia, are still attractive investment vehicles given the high yields and premiums above elevated inflation which last headlined 15.5% (Aug). Benchmarked against a one year treasury bill (because the options run a year) now paying 24.5%,…
LUSAKA (The Business Telegraph): – The central bank in Africa’s second largest copper producer Zambia has moral suaded the market through a statement on developments in the foreign exchange markets. the red metal currency has come under immense pressure extending a losing streak that has seen the currency flirt with all time highs since the currency was rebased as sentiment dims and dollar demand widens. An imbalanced forex market. In its press statement the central bank acknowledges the imbalances in the foreign exchange market exacerbated by lower mining currency sales while on the demand side the bank of Zambia flags…
LUSAKA (The Business Telegraph):- Africa’s second largest copper producer, Zambia seeks direction, optimism and confidence claw back after a tough year ravaged by disease pandemic that has amplified most of it’s already existing economic and fiscal related issues. Republican President His Excellency Edgar Lungu will address opening of parliament on 11 September in a build up to presentation of the national estimates of revenues and expenditures for the year 2020. Zambia has many stakeholders seeking direction and clarity as to its economic trajectory at a time when the nation is set to recede 5% (IMF estimate) and generate a fiscal…
Chanda Chime Katongo – Public Relations Strategist and Head of Women Banking at one of Africa’s largest financial institutions.
JOHANNESBURG (The Business Telegraph): Lazard Frere’s have commenced a dollar bond stock take for its client Zambia after appointing Morrow Sodali to collate information on the debt holders and facilitate communications. A few months after the French investment banking firm had been settled for to restructure the copper producers liabilities, 30-35% of Eurobond holders domiciled in Europe and United States commenced a creditor grouping process to gear up for negotiations with the advisory firm (agent) acting on behalf of its principle, the Zambian government. Zambia’s dollar bond stock rests at $3billion in 3 streams of maturities namely 2022, 2024 and…
A Proflight Jet-stream-41 aircraft at Kenneth Kaunda International Airport.