One of the worlds most prestigious Professional Services firm PricewaterhouseCoopers has appointed Andrew Chibuye to head its Zambia office as Senior Country Partner effective 01 July 2020, taking over from Nasir Ali who who retires at the end of June. Chibuye (37) has served the firm for sixteen and half years with a pedigree of excellence from Associate level all the way through Managerial ranks levitating to Associate Director and Partner. He last served as Country Assurance Leader, a role he housed for the last 10-months before his recent ascension to Senior Country Partner. He has also worked for PwC…
Author: The Editor
With K1.5billion of market liquidity as measured by interbank aggregate current account balances, there was adequate purchasing power in Thursday, 07 May treasury bill sale. With K950million of assets on offer the central bank in Africa’s copper producer Zambia, sold 40% above its offer benchmark raising K1.33billion of a total appetite of K1.8billion in bids observed. Sanguine government borrowing appetite signs. The central banks reserves the right to borrow in excess of 20% above the assets on offer. A 40% oversubscription signals the regulator breaching its own prescription signaling sanguine funding needs for the state. T-bills still more attractive. As…
Africa’s second largest copper producer Zambia, recorded the steepest slide in private sector pulse as COVID risks deepen. The red metal producer headlined 37.3 in April from 44.7 in March on account of lock down effects and social distancing health protocols that have eroded aggregate demand impacting manufacturing pulse. Read also: Dour business pulse expected this week, as COVID weighs Zambia’s PMI has been dour for 15 months straight and was last in positive territory in February 2019 at 50.4 and has persistently remained in contraction as energy risks widen while liquidity lack and currency depreciation have been hard core…
Stanbic Bank Zambia Head Office on Addis Ababa Drive in Lusaka.
Deep in a disease pandemic that has crippled the business ecosystem through supply disruptions and social distancing protocols through a partial lockdown, the Pensions and Insurance Authority (PIA) in Africa’s second largest copper hot spot has provided guidelines to safeguard the industry. It is evident that COVID has brought with it unique credit and liquidity risks that require urgent intervention to ensure the credit quality of underwriters remains robust. The pandemic has by most Zambian regulators been underestimated due to an array of reasons ranging from lack of clear cut understanding of the importance and understanding the role insurance and…
Mount Meru fuel station on Great North road in Lusaka the capital. Pump prices of fuel have remained elevated since December 26 of 2019s price hike by the energy regulator. Global COVID lock down protocols have weakened crude oil demand suppressing prices to record levels which manufacturers look for reprieve to ease operating costs.
Bank of China Head Office on Kabelenga road in Lusaka the capital.
Indo Zambia bank Head Office on Cairo Road in Lusaka the capital. Picture credits – The Business Telegraph. All rights reserved.
With a cost to income ratio of 32%, Citibank Zambia’s after tax first quarter earnings rallied 21.4% to K42.4million compared to first quarter of 2019 and grew 42.3% compared to 4Q19. Known for its efficient transaction and processing ethic, Citibanks model remains lean with two offices in Lusaka and the Copperbelt which continue to generate business momentum that have driven the US bank. Read also: Citibank appoints Lowani Chibesakunda to head Zambia unit She-EO. All eyes will be on the first female Chief Executive Officer the Zambian franchise has ever had, Lowani Chibesakunda, in an economic turbulent and suppressed credit…
Zanaco Plc Head Office on Cairo road in Lusaka the capital. Picture credits – The Business Telegraph.