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STATEMENT Date: Thursday 8/02/2024 CENTRAL BANK’S TIGHTER MONEY POLICIES THREATEN PRIVATE SECTOR EXPANSION, WARNS CTPD   The Centre for Trade Policy and Development (CTPD) is concerned over the Bank of Zambia’s recent policy action which significantly raises the statutory reserve ratio (SRR) for commercial banks. Announced through a circular dated February 2nd, 2024, the SRR has been increased by 9 percentage points to 26.0 percent from the previous 17.0 percent. This adjustment affects both local and foreign currency deposits, including government and nostro account deposits. This move comes in response to rising inflationary pressures, with the annual inflation rate escalating...

By Chali Mulenga in Livingstone,  Southern Province, Zambia Kaiko Wamunyima, the Media Director of the Southern Africa Development Community (SADC) Truck Drivers Association, minced no words as he addressed the media today, condemning the escalating violence against truck drivers in the Democratic Republic of Congo (DRC). Wamunyima pulled back the curtain on the harrowing situation unfolding, particularly in Tenke Fungurume, where truck drivers have become targets of violent attacks. “Our drivers are not soldiers; they are the backbone of regional economic development,” he emphasized, highlighting the association’s staunch stance against such assaults. The media director pointed fingers at illegal mining...

News MINING SECTOR TAX CONTRIBUTIONS HIT RECORD K43 BILLION, SAYS ZEITI  Friday 2nd February 2024 0 comments 84 Views 0 Likes FOR IMMEDIATE RELEASE FEBRUARY 2, 2024 MINING SECTOR TAX CONTRIBUTIONS HIT RECORD K43 BILLION, SAYS ZEITI LUSAKA, ZAMBIA – Tax payments from the mining sector rose by 11 percent to K43.3 billion in 2022, according to the latest independently audited report from the Zambia Extractive Industries Transparency Initiative (ZEITI). The report showed that total revenues received by government from the mining sector rose to more than K43.3 billion in 2022, a significant increase on the K39 billion received in...