Category: Business

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May 8, 2022

Zanaco Daily Treasury Newsletter


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  Contact the Zanaco Treasury Team: Virginia Mwalilino (0977 561166), Nyangu Mwansa (0977 600228), Mudenda Sikapoto (0977 796025), Nana Mukwiza (0966 745656) ,Roy Mbazima (0977199495), Jibinga Jibinga (0977 836332), Kawang’u Sakuwaha (0972 973318) Landlines: +260-(211)-425 795/425 796/425 798/4257 99/+260 977 915903/+260 961 050352 Local Currency Markets Thursday’s session saw the local currency trade within its newly established range as it continues to battle for support in a dollar strained market. The kwacha made marginal loses to close at K17.4550/17.5050 on the bid and the offer respectively against it opening levels of K K17.4200/17.4700 per dollar. The kwacha is anticipated to...

Business / Latest News

May 8, 2022

ZANACO Exchange Rates Monthly Economic Report – March 2022


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After picking up in February, growth in global economic activity eased during the month of March 2022 with the J.P Morgan composite PMI shedding 0.8 points to a 2-month low of 52.7 in show of the negative effects of the Russo-Ukrainian war. The war hit both domestic and export demand with the latter contracting at a 20-month high rate. Slowing demand notwithstanding, inflationary pressure continued to escalate while outstanding business orders accumulated at a quicker rate and thus forcing firms to enhance the pace of hiring labour. In view of the Russo-Ukrainian war occasioning a surge in commodity prices, hampering...

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May 5, 2022

Government not selling Times of Zambia, assures Chushi Kasanda-Jangulo


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Zambian Government not selling Times of Zambia, assures Chushi Kasanda-Jangulo By Derrick Sinjela and Saeed Simon Banda in Lusaka, Zambia THE Government of the Republic of Zambia (GRZ) is not selling the Times of Zambia (ToZ) says Minister of Information and Media and Chief Government Spokesperson Chushi Kasanda-Jangulo. In a Thursday, 5th May, 2022 Statement on the Times Printpak Zambia Limited, Ms. Kasanda-Jangulo allayed fear raised that Government intends to sell the ToZ. Referring to a Wednesday, 4th May, 2020, as part of the commemoration of the World Press Freedom Day (WPFD), Brainstorming Session, Kasanda-Jangulo recollected that President Hakainde Hichilema...

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May 3, 2022

“GOD IS NOT A SOCIALIST [On Labour, its Day, and Other Imperatives] ___________________ Neither is He a Capitalist,” prods Dr. Canisius Banda


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GOD IS NOT A SOCIALIST [On Labour, its Day, and Other Imperatives] ___________________ Neither is He a Capitalist. On days like Labour Day, we must deeply reflect on the origins, wellbeing and future of work. Through such careful reflection, we must then fashion a future that is harmonious for all concerned with reference to work/labour and workers. A curious and noteworthy phenomenon is that nearly all political parties in Zambia acknowledge God as the supreme authority of all guidance. This is encouraging, God being the embodiment of THE SOURCE. And yet, nearly all their manifestos do NOT accurately reflect this...

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April 29, 2022

GARY, THE ECONOMY and THE KACHASU FIASCO [Rule of the jungle, prejudice and Torture]


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  GARY, THE ECONOMY and THE KACHASU FIASCO [Rule of the jungle, prejudice and Torture] ___________________ Gary NKOMBO is my FRIEND. I like his dress sense and love for fashion. As his Vice President in the UPND, there was a time I even passionately campaigned for him in his constituency in Mazabuka. I saw a promising FUTURE in him, such an articulate and passionate young Zambian. But the Gary we are seeing today has MORPHED. I don’t know what he is high on or whether he is using drugs. He seems unhinged. He has become a monster, a dangerous creature...

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April 26, 2022

ZANACO Treasury Newsletter Tuesday, 26th April, 2022


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  Contact the Treasury Team: Virginia Mwalilino (0977 561166), Nyangu Mwansa (0977 600228), Mudenda Sikapoto (0977 796025), Nana Mukwiza (0966 745656) ,Roy Mbazima (0977 199495), Jibinga Jibinga (0977 836332), Kawang’u Sakuwaha (0972 973318) Landlines: +260-(211)-425 795/425 796/425 798/4257 99/+260 977 915903/+260 961 050352 Local Currency Markets Local Money Markets Monday’s USD/ZMW currency trading saw the local unit trading give up Market liquidity was ZMW2,505.04 million from ZMW1,486.32 million record some gains against the US dollar on the back of reduced supply flows for the ordered earlier while interbank activity was ZMW498.00 million from day. The Zambian Kwacha opened trading at...

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April 26, 2022

First National Bank Zambia Economic Update – April 2022


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First National Bank Zambia Economic Update – April 2022 LUSAKA, Zambia – 26 April 2022 – Following a significant rebound estimated at 3.6% in 2021, Zambia’s economy remains on a path of recovery. Rand Merchant Bank (RMB), the corporate and investment banking arm of FirstRand Bank Limited – of which FNB Zambia is also a division, is expecting the economy to grow to 4.8% in 2022 before stabilizing at 4.0% in 2023. “We note that in 2022 growth in the secondary industry is likely to maintain its momentum, specifically electricity, manufacturing and construction, given ongoing projects in these areas,” says...

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April 25, 2022

HH is winning 2021 elections, …Change is a must, predicts Guy Lindsay Scott …as Hakainde Hichilema and Edgar Chagwa Lungu fight on twitter


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HH is winning 2021 elections, …Change is a must, predicts Guy Lindsay Scott …as Hakainde Hichilema and Edgar Chagwa Lungu fight on twitter By Derrick Sinjela AS Zambians prepare to cast the vote on Thursday 12th August 2021 Presidential, Parliamentary and Local Government Election, former first White Republican Head of State, Dr. Guy Lindsay Scott has insisted that change is inevitable. Hosting United Party for National Development (UPND) Alliance aspirant for the Mazabuka Central parliamentary seat, Gary Nkombo, at his Lusaka East residence, Dr. Scott, now serving as a Senior Advisor to Hakainde Hichilema, said political change is definitely coming....

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April 25, 2022

EV TECHNOLOGY GROUP PREPARES FOR GLOBAL GROWTH WITH THE APPOINTMENT OF FORMER LOTUS EXECUTIVE DAN BURGE AS CHIEF PRODUCT OFFICER AND THE OPENING OF NEW UNITED STATES OFFICE


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TORONTO, ON (April 25, 2022) – EV Technology Group Ltd. (the “Company” or “EV Technology Group”) (NEO: EVTG) announces today that it has strengthened its leadership team with the appointment of Dan Burge as Chief Product Officer, effective immediately. Dan Burge is a highly experienced global automotive industry executive, with over 20 years of high-level commercial, operational and technical roles. Dan Burge will play a key role in building out the product team at EV Technology Group, focusing on incubating new models, brands and other opportunities. He will also open and run a newly formed US office for EV Technology...

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