LUSAKA – Zambia has achieved a historic economic milestone, with gross international reserves (GIRs) rising to an unprecedented US$5.2 billion, the highest level ever recorded in the nation’s history. Finance Minister Dr. Situmbeko Musokotwane announced the development in Parliament during a Ministerial Statement on Zambia’s recent sovereign credit rating upgrades. He noted that the record…
Energy Minister Makozo Chikote has announced a major reduction in electricity connection fees, with subsidized charges set to drop from K4,846 to K300 effective December 22, 2025. Speaking in Lusaka during the launch of the Accelerated Sustainable and Clean Energy Access Transformation (ASCENT) initiative under the Rural Electrification Authority (REA), Mr. Chikote said the 2026…
Crude oil futures edged higher toward $59 per barrel on Wednesday, recovering some losses from the previous session, as global markets reacted to geopolitical developments and ongoing disruptions in energy supply. The price movements follow US Russia diplomatic talks, which President Vladimir Putin described as “very useful” but did not produce a resolution to the…
LUSAKA, Zambia The Zambian Kwacha remained relatively stable in the money market this morning, with commercial banks offering competitive rates for both buying and selling US dollars. According to data from the Bank of Zambia morning session, Access Bank Zambia, Bank of China (Zambia), and ABSA Bank Zambia emerged as the most favourable for customers…
Pictured by Zambia army SIAVONGA, Zambia The Zambia Army has issued a stern directive to illegal miners operating along the Lower Zambezi in Siavonga District to vacate the area immediately or face forced eviction. Army Commander, Lieutenant General Geoffrey Zyeele, said the order is part of intensified national efforts to curb illegal mining, which he…
NINGBO, China Zambia’s Vice President Mutale Nalumango has reaffirmed the government’s commitment to strengthening economic cooperation with China, emphasizing that true investment goes beyond capital inflows to include innovation, knowledge transfer, and shared prosperity. Speaking during a high-level engagement with the Ningbo Communist Party of China (CPC), led by CPC Deputy Secretary of Zhejiang Province…
Zambia’s economy is expected to feel indirect pressure from weakening regional demand after South Africa recorded its sharpest manufacturing slowdown of the year in November. A monthly Purchasing Managers’ Index survey issued in Johannesburg showed the seasonally adjusted PMI, sponsored by Absa Bank, falling to 42.0 in November from 49.2 in October. A reading below…
MPIKA – The government has launched the third phase of its nationwide capacity-building programme for artisanal and small-scale gold miners, marking another milestone in efforts to formalise the sector and improve mining standards across the country. The latest training session, held in Mpika District, has brought together miners from eight provincesCentral, Copperbelt, Eastern, Muchinga, North-Western,…
NDOLA – Government has stepped in to safeguard more than 3,000 jobs at Neelkanth Lime Limited after the company proposed introducing automated mining and production systems that would have reduced its workforce to just 500 employees. Commerce, Trade and Industry Minister Hon. Chipoka Mulenga, MP, revealed the intervention during a tour of the Ndola-based plant,…
LUSAKA – The Ministry of Agriculture has urged farmers nationwide to plant certified seed and avoid the use of recycled seed as preparations for the 2025/2026 farming season gain momentum. The call comes as government intensifies efforts to meet ambitious national crop production targets set by President Hakainde Hichilema 10 million metric tonnes of maize,…
