ZACCI DAILY BUSINESS NEWS FRIDAY JULY 31, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 18.2325 18.2825
ZAR/ZMW 1.0848 1.0880
GBP/ZMW 23.7350 23.8074
EUR/ZMW 21.4304 21.4965 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 16-31 JULY

US DOLLAR                  ZMW 18.1751 EURO                 ZMW 20.3732
SOUTH AFRICAN RAND ZMW   1.0894 BRITISH POUND  ZMW 22.8642
AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity Purchase(USD) Sell (USD)  
Soya beans 310         337
Wheat 425           445
Maize 143 171
Sun flower 265 300
Cowpeas 190 200
G/nuts shelled 828 994
Unshelled G/nuts
Rice

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

 COMMODITY CURRENT   PREVIOUS
Oil (BRENT) ($/barrel)  43.40   43.44
COPPER ($/ton)  6,433.50   6,475.00
COBALT ($/ton)  29,000.00   28,500.00
NICKEL ($/ton)  13,716.00   13,762.00
ALUMINIUM ($/ton)   1,681.50   1,671.00
LEAD ($/ton)   1,841.50    1,836.00
ZINC ($/ton)   2,275.00   2,206.50
STEEL ($/ton)     442.00    438.50
ZAMBIA ECONOMIC INDICATORS

CURRENT  PREVIOUS
Inflation (%) 16.6% (JUNE, 2020) 15.9% (MAY, 2020)
Annual GDP (%) 2.30% (2019)              3.0% (2018)  (BOZ)
Gross Reserves (US$ Billion) 1.45 1.41
BOZ Policy Rate (%) 9.25%  11.5%
 LOCAL BUSINESS NEWS

Trade surplus hit K96 billion

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.
Read more in daily mail

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).
Read more in daily mail

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.
Read more in daily mail
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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