Category: Latest News

Protect local firms …as Yango dares Ulendo

  By Isaac Able Mwaipopo In a time like this when a local company is faced with stiff competition, there is great need for appropriate institutions to see how  they can get together and provide adequate support to ensure ULENDO does not close shop, as much as foreign companies may be perceived to be efficient and cheaper, let’s not forget that they externalise all PROFITS, they hardly plough back into the local economy, ULENDO is local, owned by a young Zambian, i would have been happy if there was a way of protecting the infant innovation, may be the Competition...

Zanaco Daily Treasury Newsletter

  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...

ZANACO Exchange Rates Monthly Economic Report – March 2022

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...

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

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...

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

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...

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

  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...

ZANACO Treasury Newsletter Tuesday, 26th April, 2022

  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...

First National Bank Zambia Economic Update – April 2022

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...

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

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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