ZACCI DAILY BUSINESS NEWS WEDNESDAY SEPTEMBER 23, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 19.9175 19.9675
ZAR/ZMW 1.2003 1.2037
GBP/ZMW 25.5043 25.5777
EUR/ZMW 23.4110 23.4777 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 15-30 SEPTEMBER

US DOLLAR                  ZMW 19.5000 EURO                 ZMW 23.2035
SOUTH AFRICAN RAND ZMW   1.1719 BRITISH POUND  ZMW 25.9408
AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity Purchase(USD) Sell (USD)  
Soya beans 350         380
Wheat 400           410
Maize 130 155
Sun flower 265 300
Cowpeas 180 200
G/nuts shelled 850 950
Unshelled G/nuts
Rice

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

 COMMODITY CURRENT   PREVIOUS
Oil (BRENT) ($/barrel)  41.40   41.41
COPPER ($/ton)  6,810.00   6,837.00
COBALT ($/ton)  33,965.00   33,970.00
NICKEL ($/ton)  14,554.00   14,691.00
ALUMINIUM ($/ton)  1,744.00   1,752.50
LEAD ($/ton)  1,873.00    1,871.50
ZINC ($/ton)   2,472.00   2,482.00
STEEL ($/ton)   450.00    452.50
ZAMBIA ECONOMIC INDICATORS

CURRENT  PREVIOUS
Inflation (%) 15.5% (AUGUST, 2020) 15.8% (JULY, 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

Expert open lid on copper price

Firms should not elude paying taxes on pretext that price has reduced. The price of copper on the international market should not be used as a yardstick for measuring the performance of the mining sector in Zambia.

Read more in daily mail

Reduce clearance time at borders, State agencies told

MINISTRY of Commerce, Trade and Industry Permanent Secretary Mushuma Mulenga has urged Government agencies to reduce clearance time of cargo at various borders to facilitate trade and ease of doing business. Mr Mulenga said: “The average clearance time for imports is now seven days, one hour and 36 minutes, an improvement in comparison to the times when imported goods took weeks to clear.” Launching the Chirundu time release study report last week, Mr Mulenga said there is need to improve the process to meet international standards with an average clearance time of five hours.
INTERNATIONAL BUSINESS NEWS

How Eskom’s New CEO Wants to Fix South Africa’s Troubled Utility

Andre de Ruyter knew well the adversity he faced at South Africa’s power monopoly — a state-owned wreck hollowed out by corruption that struggles to keep the lights on, pay its bills and play ball with a unionized workforce. “I don’t think I was under any illusion that this wasn’t going to be a very challenging job,” De Ruyter said in an interview nine months into his tenure as chief executive officer of Eskom Holdings Plc. So when De Ruyter got to work as the 13th Eskom CEO in the past decade, he went after one foolproof success. He ordered up a new paint job for the main board room at Megawatt Park, the utility’s brutalist-style headquarters in suburban Johannesburg. “It was dirty and it looked shoddy,” he says. “I’m meticulous. I want to do things right.”

 

 
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