A Zambian woman crushing stones by the road side. Zambia grapples with rising debt and a widening fiscal deficit which the new finance minister has pledged to reign in to restore fiscal fitness.
Author: The Editor
IMF office building in Washington DC.
A Zambian Copper Mining operation.
Stanbic Bank Chief Executive Leina Gabaraane (right) and IFC Regional Director for Southern Africa, Kevin Njiraini agree a $15 million loan to help Stanbic Bank expand its lending to small and medium enterprises.
A series of market events ranging from market euphoria to liquidity tightening has clouded the Zambian market this week. Starting the week with a new finance Minister was a shocker to the markets sending the worst performing frontier market bonds to most preferred overnight. China continues to impact the base metal markets as Brexit risks creep in thick as deadline draws nigh. MARKET EUPHORIA: An autopsy of Zambia’s Finance Ministry latest appointment that saw former central bank Deputy Governor appointed to head the fiscal unit of government. This is the second central banker to be appointed to the fiscal management…
Zambrew Country Director Jose Moran and Lusaka Securities Exchange Chief Executive Officer Priscilla Sampa celebrate 22 years of Ab InBev subsidiary Zambrew stock listing on the local bourse in the capital on 16 July.
Bank of Zambia Deputy Governor Operations Dr. Bwalya Ng’andu. He will be sworn in as Zambias Finance Minister on 15 July.
Traffic on Zambias Great East road. Picture taken from Manda Hill fly over bridge.
Kwacha notes being displayed in Lusaka the capital.
KWACHA PERFORMANCE: The copper currency remains firm at 12.51 for a dollar unit from previous session of 12.55. We remain optimistic that the Kwacha will remain vulnerable to further rallies driven by the short cash market positions which have triggered central bank presence in Open Market Operations (OMO), injecting liquidity just to plug the lacuna. With the tax season open to the 16 July, the market is absorbing Kwacha at a fast pace with a flurry of dollar conversions to raise Kwacha funding for players long foreign currency. Some analysts view the recent rally as unsustainable and artificial given the…