Kafue round about in Lusaka, Zambia’s capital on 30 October 2019.
Author: The Editor
Maamba Collieries Limited Zambia’s independent power producer. MCL says ZESCOs non payment of arrears has impacted the energy producers maintain CE costs causing disruption in power supply.
Proflights 50-seater CRJ jet aircraft at ORT airport in Johannesburg, South Africa.
Refined copper processing in China.
Nine months treasury bill yields repriced 59 basis points higher to 27% in a poorly subscribed government security debt sale on the eve of Zambia’s Independence Day celebrations. With only about K453million of cash into the 23 October, the central bank in Africa’s copper hotspot managed to raise only K323million in cash terms translating to 34% subscription. Appetite as forecast was anemic with bids totaling K403million of which K293million for 1 year paper paying 27.5% as K101million housed in the 9 month at 27%. Of the K394million of bids on the long end of the Kwacha curve, K314million was absorbed…
With only K453million market liquidity into Wednesday 23 October K950million sale treasury bill sale, it is highly unlikely that the central bank in Africa’s red metal producer will absorb all assets on offer. Markets have been cash tight after K704million bond purchases settled earlier on Monday mopping the balance post K2billion absorbed in provisional taxes earlier. This auction follows an earlier hat-trick of back to back over-subscriptions in t-bill sales and a decently covered one yard bond sale. The Kwacha demand curve has limited latitude for yields to ebb higher given the already elevated position. The last primaries printed between…
Fitch ratings agency has that the 2020 budget in Africa’s red metal producer, could exacerbate risks to the sovereign’s external debt sustainability unless new sources of grant funding or concessionary lending are found. The ratings agency cited an uptick in budget financing without detailing the sources of the funding. Zambia’s 2020 budget has increased by 22.3% to K106.3billion. Finance Minister, Dr. Bwalya Ng’andu in his debut budget presentation projects to narrow the fiscal deficit to 5.5% in 2020 while growing the economy by a targeted 3.1% from 2.2% in 2019. Other metrics the former central bank targets to achieve are…
Kigali, the capital city of the Rwanda, one of Africa’s fastest growing economies. Rwanda made a debut to the top 10 of the Absa 2019 Financial Markets Index.
Kabwe round about picture of Lusaka, the capital of Africa’s second largest copper producer.
A cocoa plantation in Ghana.