Innovation Scouting and National Innovation awards programme
Innovations play a critical role in providing solutions to existing challenges in our communities. National Technology Business Centre (NTBC) and UNDP’s Accelerator Lab in collaboration with ZICTA, are implementing a National Innovation Initiative in Lusaka, Southern, North Western, Copperbelt, Western and Luapula provinces of Zambia. This is aimed at mapping […]
Protea hotel to run KK international airport hotels
The Zambia Airports Corporation Limited – ZACL has signed a deal with Protea hotel that will see the hotel chain run the hotels at the Kenneth Kaunda International Airport – KKIA in Lusaka. Managing Director of the ZACL Fumu Mundoloka stated during the signing event today 8 October 2020 that […]
Debt Q&As following Zambia’s Presentation to Investors
The Ministry of Finance of Zambia held a presentation by webcast on 29 September 2020, (the “Presentation”) during which attendees were given the opportunity to submit questions in writing. In this document, the Ministry of Finance of the Republic of Zambia (“Zambia”) seeks to answer those questions that were raised. […]
Government Debt in Rough Waters: Lazard Navigation Guide
The COVID-19 pandemic is triggering sovereign debt distress across the globe. Public debt was already elevated in many countries before the crisis hit, and the pandemic has created a
surge of debt without precedent, even during wartime.
Zambia’s total indebtedness as $18.5bn, Ministry of finance reveals
The Minister of Finance revealed Zambia’s total indebtedness inclusive of continent liabilities and debt owed by State Owned Entities -SOE’s as $18.5billion with an average interest of 4.5%. Speaking during the investor call following the copper producers request to defer coupon payments on its dollar bonds for 6 months, MinFin […]
Fitch Downgrades Zambia to ‘C’
Fitch Ratings – Hong Kong – 24 Sep 2020: Fitch Ratings has downgraded Zambia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘C’ from ‘CC’. Fitch has also downgraded the ratings on Zambia’s senior unsecured foreign-currency bonds included in the “consent solicitation” to ‘C’ from ‘CC’. This includes all of the […]
CABINET APPROVES #ZambiaBudget2021 and Economy Recovery programme
The 2021 National Budget due for presentation to the National Assembly by Minister of Finance, Bwalya Ng’andu, this Friday has been approved by Cabinet. Chief Government spokesperson Dora Siliya has said the approval was made today during the Cabinet meeting held virtually due to the COVID-19 pandemic, which was chaired […]
Announcement of Consent Solicitation – Eurobond Zambia
THIS ANNOUNCEMENT DOES NOT CONSTITUTE A SOLICITATION OF AN OFFER TO SELL OR RECOMMENDATION TO PURCHASE THE NOTES REFERRED TO IN THIS ANNOUNCEMENT OR ANY OTHER SECURITIES. THE CONSENT SOLICITATION IS NOT BEING MADE, AND THIS ANNOUNCEMENT SHALL NOT BE DISTRIBUTED, IN ANY JURISDICTION IN WHICH SUCH SOLICITATION OF CONSENTS […]
Tralac Annual Conference 2020
Tralac’s 2020 Annual Conference will be a virtual event. This is one of the many consequences of COVID-19. At this occasion we’ll discuss select trade governance matters in Africa. There is widespread agreement that the multilateral trading system requires reform. We’ll consider how a future World Trade Organisation (WTO) could […]
Major foreign currencies continue to pressurize Kwacha
The Bank of Zambia says the Kwacha in the recent past weeks has come under pressure from major foreign currencies owing to low imports by the mining sector and COVID – 19 which has impacted global trade. Bank of Zambia Acting Assistant Director Communication Bersnart Mwanza says the Kwacha depreciated […]