JSE to launch Zambia dollar-denominated maize contract

The Johannesburg Stock Exchange (JSE) is setting up a contract for Zambian maize that will be denominated in US dollars. The contract will add liquidity to the Zambian market and provide the South African grain industry with better access to Zambian grain. “We are in the process of launching a contract listed on the JSE, denominated in U.S. dollars, which will be the first foreign currency listed contract in any asset class on the JSE,” Donna Nemer, the bourse’s director of capital markets, told Reuters on the sidelines of the…

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Cabinet approves national strategy for development statistics bill

National Development Planning Ministry has revealed that Cabinet approved the National Strategy for the Development of Statistics Bill during a meeting in Lusaka. National Development Planning Public Relations officer Sikabele Chikuba said the bill presented to Cabinet by Minister of National Development Planning Lucky Mulusa seeks to establish an effective and efficient National Statistics System that will be responsive to the information requirements of a modern and smart Zambia. He explained that the 2017 Statistics Bill was drafted to replace what he termed as the outdated 1964 census and statistics…

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Commodity hedge fund Blenheim sees upside in copper, zinc

MELBOURNE Copper and zinc are the two standouts among a brightening outlook for base metals, with supply constraints and China-driven demand set to lift prices in coming months, U.S. commodity hedge fund Blenheim Capital Management said. After a near six-year downturn that bottomed early last year, industrial metals are being driven more by supply and demand fundamentals than global monetary trends, base metals analyst Ingrid Sternby told Reuters in a rare interview. The famously private Blenheim sees interest in commodities finally picking up and Sternby said there’s now “a good…

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Kenya starts selling bonds via mobile phones

Kenya has become the first country to exclusively sell government bonds to citizens via their mobile phones, as it seeks new ways of raising money. The country is already a pioneer in the use of mobile money. The government is looking to tap into that network by allowing mobile phone users to trade the government securities across their phones. Kenyans can buy one of the bonds for as little as 3,000 Kenyan shillings ($30; £23), the country’s central bank said. Kenya’s banking system is fuelled by mobile payments. The main…

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PUBLIC DISCUSSION – ZAMBIA DEBT SITUATION: BACK TO HIPC?

The Economics Association of Zambia (EAZ) presents a public Discussion themed “Zambia Debt Situation: Back to HIPC?” We hereby cordially invite you to this public discussion to be held on Friday, 31st March, 2017 at the Taj Pamodzi Hotel, from 18:00hrs to 20:00hrs. We look forward to seeing you there. Yours sincerely, EAZ Secretariat by

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Bank of Zambia eases Monetary Policy Rate by 1.5% to 14%.

“In the implementation of monetary policy, BoZ will continue to strengthen the forward looking monetary policy, anchored on interest as the key signal for monetary policy. Changes in the Policy rate will be guided by inflation outcomes, forecasts as well as progress in fiscal consolidation” said the Bank of Zambia Governor during the first quarter Monetary Policy meeting. For more download the document below. Click this link to download by

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Parliament approves the 2017 National Budget

Parliament has approved the K64.5-billion 2017 national budget without any amendments. The national budget was passed last week Wednesday night. First Deputy Speaker of the National Assembly Catherine Namugala presided over debates that led to the approval after which she handed over the report to Speaker of the National Assembly Dr. Patrick Matibini. Earlier Minister of Finance Felix Mutati presented the Appropriation Bill number 47 of 2016 which was a culmination of tasks started in the committee of supply and estimates for the 2017 National Budget. Mr. Mutati stated that…

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Government receives $31.1 million from the GLobal Agricultural and Food Security programme

Government has received $31.1 million grant from the GLobal Agricultural and Food Security programme aimed at promoting productivity and market enhancement, among small scale farmers. The seven year programme, under the Agricultural Productivity and market Enhancement Project – APMEP- is being supervised by the African Development Bank – ADB. Fisheries and livestock permanent secretary David Shamulenge says government has done well in infrastructure development and will next year start value addition, market linkages and empowerment programmes for the farmers. Dr Shamulenge who is touring Chongwe and Rufunsa districts says President…

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Zambia scraps planned import duty on copper concentrates

LUSAKA Dec 21 (Reuters) – Zambia will scrap a plan to impose a 7.5 percent import duty on copper concentrates from Jan. 1, Finance Minister Felix Mutati said on Wednesday. “We have taken the decision that the 7.5 percent be deleted,” Mutati told parliament. Industry has complained that the planned tax would have put a kink in the global copper supply chain by forcing neighbouring Democratic Republic of Congo to send surplus mine output elsewhere. (Reporting by Chris Mfula; Editing by Ed Stoddard and Joe Brock)… Source: Reuters Africa by

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