Category: Business

By Derrick Sinjela – Rainbow Newspaper Zambia Limited PROFESSIONAL Insurance Corporation (Z) Limited has been ordered to pay the Zambia Revenue Authority (ZRA) Value Added Tax (VAT) from its salvage sales, confirms ZRA Corporate Communications Manager Topsy Sikalinda. A delighted Mr. Sikalinda said in its ruling on Friday 19th February 2021, the Supreme Court ordered the insurance company to pay the VAT due and the costs awarded to ZRA within thirty (30) days of the judgment. In 2013, ZRA found that Professional Insurance was owing K1, 300,000.00 in VAT from the Sale of Salvage when the Authority audited the business...

Republic Of Zambia Address By His Excellency Mr. Edgar Chagwa Lungu President Of The Republic Of Zambia On The Progress Made In The Application Of The National Values And Principles Delivered To The Fifth Session Of The Twelfth National Assembly On Friday, 12th February, 2021           State House Lusaka     Introduction   Mr Speaker, Our Constitution, Pursuant To Part Ii, On National Values, Principles And Economic Policies, Articles 8 And 9, As Read With Article 86(1), Requires That The President Of The Republic Of Zambia Reports To This August House The Progress Made In The Application Of...

By Wakumelo Mataa CTPD Researcher Public Finance Tuesday 16th February 2021 THE Center for Trade Policy and Development (CTPD) has noted with concern, the sustained rise in inflation over the recent past. Inflation rose from 12.5 % in January, 2020 to 21.5% in January, 2021, implying that the cost of a representative consumption bundle has almost doubled in just one year. During its last sitting in November, 2020, the Bank of Zambia Monetary Policy Committee (MPC) projected inflation to average 16.7% in the fourth quarter of 2020. However, this is less than the actual inflation outcome for the fourth quarter...

The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people VIENNA, Austria, February 19, 2021/ — The OPEC Fund for International Development (the OPEC Fund) (https://OPECFund.org) has signed a US$50 million loan with Tanzania to finance the ‘Fourth Tanzania Poverty Reduction Project’. The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people. Although Tanzania has made progress in reducing poverty over the past decade, around 26 million people – close to half the total population – live on...