Finance Minister in Africa’s second largest copper producer Zambia, Honorable Margaret Mwanakatwe has project a bright economic outlook for 2019. This was contained in the released economic highlight report for Zambia on 11 March. The Minister said growth is expected to remain resilient this year backed by stable macroeconomic environment and continued implementation of legal and structural reforms. The Minister forecasts good in key sectors such as mining, manufacturing, wholesale and trade and construction, and the recovery in agriculture are projected to support growth this year. Energy stability was cited as an impetus driver for Zambia’s enhanced economic performance. Other…
Author: The Editor
They say air travel is the safest mode of transport but today 10 March is a dark day for relatives of the lost souls on the Ethiopian Airline Max 8 that crashed barely 8 minutes after take off. The world continues to scratch its heads for answers as to the cause of the Max 8 air crash operated by Ethiopian Airline the most profitable carrier on the continent. The carrier was only four months old enroute Nairobi, carrying an estimated 149 passengers and eight crew. Could Boeing be to blame for this crash seeing that this is the second crash…
The say air travel is the safest mode of transport but today 10 March is a dark day for relatives of the lost souls on the Ethiopian Airline Max 8 that crashed barely 8 minutes after take off. The world continues to scratch its heads for answers as to the cause of the Max 8 air crash operated by Ethiopian Airline the most profitable carrier on the continent. The carrier was only four months old enroute Nairobi, carrying an estimated 149 passengers and eight crew. Could Boeing be to blame for this crash seeing that this is the second crash…
Zambia’s largest bank by asset size, Stanbic Bank revealed during an economic brief held in the Copperbelt of Africa on 06 March, that it remains bullish on Zambia despite some of the risks to growth. Speaking during a presentation by the Groups Research Head Mphumele Mbiyo, the bank reiterated that it has remained bullish on Africa, Zambia inclusive. As the Standard Bank Research team, our view on growth has been very positive irrespective of the risks over the last 3 years. We have a fairly optimistic stance from a global perceptive and that the authorities in Zambia have the capacity…
They say when it rains, it pours. In Africa’s second largest copper hotspot, Zambia, it is surely raining dividends. Lusaka Stock Exchange (LuSE) primary and London Stock Exchange (LSE) secondary listed mining investment vehicle ZCCM Investments Holdings Plc (ZCCM-IH) running (ISIN0000000037) has outshined all state owned entities SOE’s after paying out a series of dividends to its shareholders ranging from the Industrial Development Corporation (IDC) to NAPSA the state pension fund to now the Ministry of Finance MinFin). ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata presented a cheque for K16.8 million in gross dividends to the MinFin for their 17.25% stake.…
Zambia’s Finance Minister Honorable Margaret Mwanakatwe will grace the Stanbic Anakazi Women of the Year Awards om March 07, an annual event in recognition of outstanding women in various fields ranging from agriculture to digitization, that continue to dent the community with positive impact and above all exude excellence. Read also: Stanbic Anakazi banking annual women of year awards on the horizon Over 120 women have been nominated at this year’s awards, which is a record for the Women of the Year Award Ceremony which has been taking place since 2014. We recognize the role Zambian women play in the…
One of Africa’s second copper producer, Zambia’s land mark economic events in 2019 will be to host the first ever National Economic Summit (NES) to be held in H2:19 at which thought leaders, captains of industry, policy makers, regulators will convene in the Davo’s of Zambia, Livingstone. To that effect, the Economic Association of Zambia has been on a series of aggressive road shows building momentum to get as many business houses involved. The response has been overwhelming. The economic think tank, on 05 March got a big strong reliable endorsement when the largest indigenous financial institution, Zambia National Commercial…
Zambia’s manufacturing activity for the month of February, just rebounded out of the woods after 6 – straight months of being in the red territory as measured by Markit/Stanbic – Purchasing Managers Index. February readings reveal Zambia posted a 50.4 headline, levitating from 48.1 in January. (50 is the borderline between contraction and growth). What seemed to have suffocated private sector activity for 6 – months was an elevation in manufacturing cost curves due to higher diesel prices coupled with a higher wage costs from upward revision in minimum wage bill. The recent easing is fuel prices with diesel ebbing…
Economic think tank in Africa’s copper producer paid a courtesy call visit to Barclays Bank Zambia at which it discussed a number of economic issues. As part of its road show and momentum build up to the debut National Economic Summit (NES) to be held in the Davos of Zambia, Livingstone in the second half of the year. The Economics Association of Zambia invited Barclays to be a partner in this initiative. The FY18 second most profitable bank measured by PAT, nodded the EAZs initiative to foster the Future of Economic Diplomacy with a skew towards sustainable and inclusive economic growth.…
Lusaka Securities Exchange (LuSE) listed mining investment vehicle in Africa’s copper hotspot, Zambia, ZCCM-IH Plc on 04 March 2019 declared a K50.3 million (circa.USD$4.13million) net dividend to its shareholder the Industrial Development Corporation (IDC). This follows a shareholders approval of a Final Dividend of K0.61 per share at the Annual General Meeting (AGM) held on 28thJanuary 2019. ZCCM-IHs FY18 earning grew by a 16% margin to K843 million from K729 million in 2017. As a Group, ZCCM-IH made a profit after tax of K843 million in 2018 from K729 million in 2017. This 16% increase in profit has led to the K98.1 million total dividend…