Lusaka Zambia’s decision to allow a portion of mining tax payments to be made in the Chinese yuan is a calculated fiscal strategy designed to lower the cost of servicing its debt to China, Finance and National Planning Minister Dr Situmbeko Musokotwane has said, as the country deepens financial pragmatism in its long standing economic…
Lusaka – A Zambia Revenue Authority (ZRA) employee accused of facilitating the transfer of a government vehicle to Archbishop Alick Banda has denied the allegation, saying he was a victim of internal fraud, according to News Diggers. Mulopa Kaunda told News Diggers that he has never owned, sold, or even seen the vehicle ZRA claims…
Lusaka – The Zambian kwacha could extend its recent rally and strengthen to about K15 per U.S. dollar this year, buoyed by higher output in mining and agriculture and a surge in foreign currency inflows, according to economist Naylor Kopakopa. In an interview with Phoenix News, Mr. Kopakopa said the currency’s rebound is being underpinned…
Lusaka -Zambia has become the first country in Africa to allow mining companies to pay statutory taxes and royalties in the Chinese Yuan, a move prominent economist Dr. Lubinda Haabazoka has described as “a pragmatic and forward looking economic policy shift with far-reaching implications.” In an analysis released this Morning, Dr. Haabazoka said the decision…
The Kwacha traded within a narrow range against the US dollar on Friday, January 2, 2026, as commercial bank exchange rates showed limited volatility across the market, reflecting stable foreign exchange conditions. According to the Daily Commercial Banks Exchange Rates, the market average interbank buying rate stood at K22.0729 in the morning session at 09:30,…
Zambia has begun receiving mining tax payments in the Chinese yuan, marking a notable change in the settlement of mineral revenues and the management of foreign exchange flows, the Bank of Zambia has announced. The central bank explained that since 2018, major mining companies have been settling mining taxes through the sale of United States…
Zambia has commenced the export of 200,000 metric tonnes of maize to Malawi, with the first consignment officially dispatched from the Food Reserve Agency (FRA) Chipata Depot. The maize export was flagged off by Minister of Agriculture Reuben Mtolo together with his Malawian counterpart, Roza Mbilizi, during a ceremony held in Chipata. Speaking at the…
President Hakainde Hichilema has reaffirmed his administration’s commitment to steering Zambia towards a stronger and more resilient economy in 2026. Speaking during his New Year’s Eve address aired on ZNBC Television and Radio from Lusaka, President Hichilema said the UPND government will remain steadfast in promoting economic recovery while ensuring that the gains reached benefit…
Zambia’s Energy Minister Makozo Chikote has hailed strengthened cooperation between Zambia and Zimbabwe for helping to stabilise power generation during a year marked by severe drought and electricity shortages. Speaking at the 43rd Zambezi River Authority (ZRA) Council of Ministers meeting held in Victoria Falls, Zimbabwe, the minister expressed gratitude on behalf of the Zambian…
Global copper prices pulled back on Monday after briefly touching record levels, as markets reassessed whether the recent rally had moved too far, too fast. Copper futures in the United States slipped to around 5.6 dollars per pound after earlier testing highs near 5.86 dollars, marking a daily decline of more than 4 percent. Despite…
