2022 May

Please click here to access the full Market Watch Local Market Commentary News flow was centered around the mining sector on Friday, with the Mines Ministry announcing the suspension of operation at three Chinese-run mines. The suspension of operations at the three mines comes after inspections revealed breaches. Operations at Jifumpa Mine, Collum Coal Mine,...

Please click here to access the full Market Watch Local Market Commentary The African Union (AU) has proposed a fund to cover a $110bn infrastructure gap. The AU called for the establishment of an infrastructure fund to help finance the construction of roads, dams, and other infrastructure on the continent. According to Raila Odinga, the...

Please click here to access the full Market Watch Local Market Commentary The Bank of Zambia held pat on its policy rate for a second straight meeting, citing easing inflationary pressure. Governor Kalyalya said that a recovering Zambian Kwacha which has gained by almost 25% against the dollar, aided by improved metal prices and better...

Please click here to access the full Market Watch Local Market Commentary In the next two weeks, five out of eight major African central banks will meet to decide on their policy rates. In the Southern African region, the South African Reserve Bank (SARB) and the Bank of Zambia (BoZ) will meet this week. The...

Please click here to access the full Market Watch Local Market Commentary A quiet start to the week in Zambia saw the attention fall on regional and global developments. Given Africa’s dependence on food imports from around the world, the continent is highly sensitive to the global food supply crisis. A new study conducted by...

Please click here to access the full Market Watch Local Market Commentary In the base metals complex, there has been some positive news over the weekend coming out of China which has buoyed base metal sentiment in Asia. Beijing’s financial authorities have allowed a further reduction in mortgage loan rates for some buyers in an...

Please click here to access the full Market Watch Local Market Commentary Speaking in an interview, Mines Minister Paul Kabuswe reiterated that Glencore Plc must renegotiate the “bad deal” the previous administration struck when Glencore bought Mopani Copper Mines last year. According to Kabuswe, “We have to renegotiate. The details are so bad, I can’t...

Please click here to access the full Market Watch Local Market Commentary In a sign of thawing relations, Vedanta Resources Ltd. confirmed that it has agreed to suspend legal action to reclaim copper mines Zambia seized three years ago, pending talks to settle the dispute. Note Vedanta has indicated that it wants the mines back...

Please click here to access the full Market Watch Local Market Commentary News flow in Zambia remains centred around the mining sector at present. Yesterday, the President’s office said that while Vedanta remains a shareholder in Konkola Copper Mines (KCM), the end of litigation would not equate to handing the operation back to the company....

Please click here to access the full Market Watch Local Market Commentary President Hakainde Hichilema yesterday said that he was pleased China would co-chair a creditor committee during debt negotiations along with France and that a partial write-off of the country’s $32bn debt is being considered. The President added that Zambia aims to avoid another...