Dr. Samuel Munzele Maimbo as Internal Development Agency Director Mobilization
Author: The Editor
The central bank in Africa’s red metal producer Zambia on Thursday 02 July sold record two yards in treasury bills as yields rally the steepest in over a year. With liquidity of K3bln into the auction, the Bank of Zambia successfully sold K2.2bln ($122mln equiv.) representing 229% oversubscription of which 56% was housed in the 1year asset tenor while 25% was in the 9month. Appetite was evidently high inferred from bids that totaled K3.6bln. This is the 6 sixth fully subscribed short term government security sale in the year the central bank observed given that risk skew remains towards shorter…
The central bank in Africa’s copper producer Zambia, seeks to sell K13.6bln ($755mln) worth of government securities in the third quarter of 2020. According to a public notice on tenders and issuance calendar, the Bank of Zambia will increase its bond and treasury bill offerings by 37% in the third quarter. Treasury bill offer size will increase to K1.3bln retaining a fortnight frequency while bond offer size will widen to K1.5bln with monthly frequency. It is about a dry point of construction that a higher auction size reflects rising funding needs for fiscal programs which is very expected after a…
Africa’s second largest copper hotspot, Zambia, sold K5.2bln ($286mln equivalent) worth of pandemic bonds on Friday 26 June. Proceeds will be used to dismantle part of the outstanding arrears to retirees, suppliers and contractors. Earlier in the week begining 22 June, Zambian authorities approved an K8bln stimulus package to be administered through issuance of COVID19 bonds whose proceeds would be used to absorb bills owed to retirees, contractors and suppliers. DOMESTIC DEBT RESTRUCTURE, BOND REPURCHASE AND COVID FUNDING The bond issuance issuance was motivated by the Finance Ministry’s funding needs to absorb pandemic related amplified shocks to the economy and…
Africa’s second largest copper producer after the Democratic Republic of Congo – DRC, Zambia, is at a very critical stage of its economic trajectory. The red metal producer has in the last few weeks made strides to restore fiscal fitness after contracting Lazard Freres a French investment banking firm to reorganize it external debt. Earlier in the week begining 22 June, Zambia’s authorities approved commencement of an economic program discussions by the Daneshwar Ghura led International Monetary Fund – IMF Article IV mission team who are in talks with Zambia on an information exchange program. Talks will run to the…
LUSAKA (BT) – The central bank in Africa’s red metal hotspot, Zambia, on Friday 26 June sold K818.5mln worth of government bonds in a debt sale that was 86% subscribed. With a just over a yard on offer, the sixth bond sale subscription was the best so far year to date following a spate of dismal outcomes exacerbated by deteriorating fiscal posture on the back of balance sheet vulnerabilities and other economic related challenges. Kwacha curve corrects on the longer end. Yields widened 70 basis points in the 3 year to 32.70% while 10 year bonds repriced 800 basis points…
Incoming Chief Executive Officer for Zanaco Plc Mrs. Mukwandi Chibesakunda.
Africa’s second largest copper producer Zambia has decided to re-open its international airports following over 8 weeks of closure in the wake of disease pandemic. its country head of state President Edgar Lungu in a state of the nation address announced further ease in partial lock down measures to include re-opening of its international airports namely Harry Mwaanga Nkhumbula – HMKIA in Livingstone, Simon Mwansa Kapwepwe – SMKIA in Ndola and Mfuwe Airports which has been closed as the copper producer stepped in to contain COVID19. Disease pandemic has eroded business pulse at these airports as lack of activity muted…
Africa’s second largest copper producer, Zambia has finally commenced bailout package discussion with the International Monetary Fund – IMF. Zambia and the Washington based lender commenced consultative virtual meetings on the 22 June running to 01 July 2020. Zambia’s MinFin is led by Dr. Bwalya Ng’andu while the IMF mission team was led by Dhaneshwar Ghura. It has taken the copper producer since 2017 to reach this stage following waning fiscal posture characterized by rising debt, widening fiscal deficits and depleting reserves which has weighed economic growth significantly. “Since 2017, this is the most important stage in our relationship with…
LUSAKA (BT) – The Zambia Statistics Agency – ZSA is expected to announce June inflation numbers on Thursday 24 June at which analysts and economists forecast a 20 points uptick to 16.8%. According to Zambia National Commercial Bank Head of Research Dr. Patrick Chileshe, inflation should climb to 16.8% for June supported by an ease in food prices, this was during TreasuryWatch MoneyFM show on 23 June. In a morning BT- podcast note on MoneyFM’s behind the markets show, inflation is expected to headline at 17% supported by a slower non-food prices due to a milder volatility offsetting the lower…