Business

International Monetary Fund says the country’s economic growth is expected to improve slightly to 3.5 percent in 2017. The Fund said sustaining the high inclusive growth in the future requires sound policies and reforms to improve competitiveness. IMF team welcomed the government’s fiscal consolidation plans which aim at putting public …

Stanbic Bank has projected a stronger and more stable economy at the backdrop of the central bank has putting in place various monetary measures to prop up the economy. Victor Chileshe Stanbic Bank’s Head of Global Markets says the current economic trajectory shows that the country is effectively dealing with …

Government says investment of $1.2bn over five years needed Tanzania-Zambia Railway (Tazara) needs US$200 million for upgrade, as authorities seek to resuscitate the line to serve both the copper industry and passenger train. Bruno Ching’andu, Tazara’s new Managing Director said the money will be used for new rolling stock and …

The International Council on Mining and Metals (ICMM) says Zambia’s scores low on governance which negatively affects the country’s mining. The Council’s 2016 report on ‘The Role of Mining in National Economies’ released recently said poor governance compromises new mining investments, hampers efficient collection of taxes and reduces the overall …

Global pump manufacturer, KSB Pumps and Valves, has established an independent operation in Zambia to ensure that its rapidly expanding customer base has full access to the company’s world-class sales and support services. Having previously been represented by a network of agencies and dealers throughout the country, the growing number …

Investors in the mineral exploration sector want exemption from property tax. The Association of Zambian Mineral Exploration Companies (AZMEC) says paying property transfer tax levied at 10 percent from exploration stage of mining dents profit. Geoffrey Mulenga AZMEC President speaking during the 10th AZMEC Explorers Forum  held under the banner: ‘Exploration …

The rising commodities prices are to spur the country’s copper production, government officials have said. Paul Chanda, Mines permanent secretary said the prospects for 2017 are largely positive. Government projects copper production to exceed 850,000 tonnes on account of recovering prices nearing US$6,000 per tonne. “The commodity prices have shown …

Australian company Cape Lambert has ventured into a joint venture with Democratic Republic of Congo’s (DRC) Paragon Mining to exploit the country’s cobalt and copper. The JV is to develop the Kipushi cobalt-copper tailings project, the Kasombo copper-cobalt project and operate the Kipushi processing plant. In addition, operate the fully …

Founder and CEO Martin Maine has extensive experience in physical metallurgy, and has participated in several international conferences and seminars. Twice President of the South African Institute of Welding, he has been involved in prestigious local projects such as Sasol ll and lll, Koeberg, and Gariep Dam. Maine also established …

Copperbelt Energy Corporation (CEC) Plc has mooted plans to delink its pan-African power assets developer CEC Africa from the CEC group. Julia Chaila, company secretary said the decision yet to get approval from shareholders is expected to improve CEC Plc financial performance. CEC Africa is currently reeling from operation challenges …