K5 billion more than same period lat year, annual inflation drop. Zambia’s trade surplus has increased to over K96.8 billion in the first six months of this year compared to about K91.8 billion in the same period last year.
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Dentist invests $4 million in manufacturing sector
A Uzbekistan dentist has invested $4.2 million to set up Elite Pro-build Company Limited, a manufacturing fir that will produce construction materials a the Lusaka South Multi Facility Zone Economic Zone (LSMFEZ).
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KAGEM revenue drops to $15 million
Gemfields Group Limited, the owner of Kagem mine Limited in Lufwanyama has announced a drop in revenue from $89 million in 2019 to $15 million this year. h company also suspended production in it’s gemstone mines in Zambia, Mozambique, Ethiopia and Madagascar.
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INTERNATIONAL BUSINESS NEWS
Eskom to Cancel 14 Billion-Rand Contract After Probe Findings
Eskom Holdings SOC Limited plans to cancel a contract to buy as much as 14 billion rand ($834 million) of fuel oil from Econ oil, after a probe it commissioned found Econ’s fees had been inflated, a person familiar with the situation said. Nothemba Mlonzi, a director at Econ Oil, declined to comment because she said the matter is a legal dispute, without elaborating whether any legal proceeding has been filed. The company is a Black women-owned business that supplies fuel oil to clients in a number of industries, according to its website. The process of canceling the contract began earlier this month, following completion of the report.
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