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The Zambian finance ministry received a record ZMW 6.27bn ($277mn) dividend from the Bank of Zambia (BoZ), partly due to gains relat-ed to the depreciation of the local currency. According to the finance ministry, the payment will help boost the government’s finances and will be directed towards achieving the objectives of the country’s economic recovery...
Base metals focused on the US Non-Farm Payrolls number in the close of last week. The number showed that although the economy is recov-ering, the pace is not at a level which would bring forward a policy tapering from the Fed. After initially rebounding this morning, copper has slipped in the Asian session with a...
Zambia’s Stanbic/Markit PMI edged marginally lower to 49.7 in May from 50.1 in the month prior, signalling a fractional deterioration in busi-ness conditions during the month. Survey results show that output returned to growth in May, one month after the same had been the case for new orders. New business ticked back down slightly in...
May PMI data out Zambia will offer further insight into the extent of economic recovery. It is worth noting that at 50.1 in April, the improve-ment in the health of the private sector was fractional, and going forward, it remains to be seen whether the rebound will be sustained. Slow progress on the vaccination front...