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Splitting KCM is legal, insists MilingoKONKOLA Copper Mines (KCM) Provisional Liquidator Milingo Lungu has insisted that his decision to split the mining company is legal and within his powers. Last week, KCM acting chief executive officer Enock Mponda announced that […]
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XTL acquires 72% stake in Madison Finance ServicesLAWRENCE Sikutwa & Associates Limited (LSA) and ZFI Holdings Limited (ZFI), the two largest shareholders in Madison Financial Services (MFS), have separately executed Share Purchase Agreements (SPAs) with XYLEM Trading (Pty) Limited (XTL), relinquishing their […]
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BoZ starts gold accumulation in quest to bolster reservesTHE Bank of Zambia (BoZ) has commenced accumulation of gold as part of the official international reserves assets following the purchase of 47 kilogrammes of Dore gold from Zambia Gold Company Limited. In a statement, […]
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Inflation closes 2020 at 19.2%THE annual rate of inflation has again increased to 19.2 per cent in December, up from 17.4 per cent recorded in November, mainly induced by huge price increases in food items, the highest on record […]
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CEC hopeful KCM can quickly dismantle $150m debtTHE Copperbelt Energy Corporation Plc (CEC) says it remains hopeful that a quick solution can be found for Konkola Copper Mines (KCM) to dismantle its outstanding US $150 million debt owed to the former to […]
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ZNBS profits soar to K27.3mTHE Zambia National Building Society (ZNBS) has posted a profit after tax of over K27.3 million during its financial year period ending March 31, 2020, mainly boosted by higher interest income According to its audited […]
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We are assessing Zambia’s bailout request – IMFTHE International Monetary Fund (IMF) says it is currently assessing a request from the Zambian government for a bailout package expected to help with the country’s reform process. An IMF team that is visiting the […]
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CEC declares 2.1 US cents dividend for 2020THE Copperbelt Energy Corporation Plc has declared a dividend to its shareholders amounting to 2.1 US cents per share for the 2020 financial year following an improved financial performance during the second-half of this year. […]
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ERB rules out ‘fast-depleting’ Zesco prepaid metresTHE Energy Regulation Board (ERB) has announced that an investigation into the alleged unusual and unexplained depletion of electricity units on Zesco Limited’s prepaid metres have found nothing irregular as the devices meet the required […]
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Zambia to remain Africa’s second top copper producer after DRC – ChamberZAMBIA’S copper production is likely to remain below one million metric tonnes for at least another three years given the persistent challenges mining companies still face, says the Zambia Chamber of Mines. Last week, Mines […]
