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Please click here to access the full Market Watch Local Market Commentary To deal with power shortages that have resulted in rolling blackouts for around 12 hours a day in the country, Zimbabwe has asked Mozambique and Zambia to supply it with more electricity. Energy Minister Soda Zhemu was quoted as saying, “we are in...
Please click here to access the full Market Watch Local Market Commentary The Ministry of Mines and Minerals yesterday reported that Zambia’s copper production dropped 4% in H1 2021 as some miners struggled with operational disruptions. Specifically, from January to June, production fell to 393,114 metric tons from 407,807 tons produced in the same period...
Please click here to access the full Market Watch Local Market Commentary Speaking yesterday, new Mines Minister Paul Kabuswe promised to restore ‘sanity’ to the mining sector. Kabuswe said that the govern-ment would ensure stability and predictability in the mining sector. The minister added that corruption must be stamped out in the sector and said,...
Please click here to access the full Market Watch Local Market Commentary In its Q2 economic report released yesterday, Zambia’s finance ministry reported that the country’s arrears for external debt principal and interest payments increased to $1.48bn by June 30 from $841mn at the end of December. The government’s stock of verified domes-tic arrears, excluding...
Please click here to access the full Market Watch Local Market Commentary President Hakainde Hichilema has told lawmakers that the government will consult stakeholders in reviewing the mining tax policy framework. Hakainde added that the government will ensure that it receives a “fair share” from mineral wealth and that electricity tariffs reflect generation costs. Moreover,...
Please click here to access the full Market Watch Local Market Commentary It was a relatively uneventful day in Zambia yesterday amid a dearth of domestic data. On the regional front, World Health Africa has called for vaccine supply deals to be brought forward. The call comes on the back of Covax, reducing this year’s...
Please click here to access the full Market Watch Local Market Commentary Speaking after being sworn in, new Mines Minister Paul Kabuswe pledged to restore stability to the mining industry and help meet the government’s goal of a more than trebling output. According to Kabuswe, “we need to bring sanity in the mines. There’s been...
Please click here to access the full Market Watch Local Market Commentary Yesterday, Bank of Zambia governor Christopher Mvunga resigned from his post, following opposition leader Hakainde Hichilema’s elec-tion win in August. Note Mvunga has spent just over twelve months on the job. President Hichilema has therefore appointed deputy governor Francis Chipimo to act in...
Please click here to access the full Market Watch Local Market Commentary It is worth noting that the degree of market volatility in the Southern African FX basket has subsided in recent sessions, with the most ap-parent improvement taking hold in the ZMW, followed by the MZN. Although the price swings are now less and...
Please click here to access the full Market Watch Local Market Commentary Zambia’s Markit/Stanbic PMI ticked higher in August, coming at a 4-month high of 49.8 from 49.4 in the month prior. Survey results show that were signs of encouragement for the Zambian private sector in August. Specifically, new orders returned to growth while firms...