ZACCI DAILY BUSINESS NEWS THURSDAY SEPTEMBER 24, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 19.9278 19.9778
ZAR/ZMW 1.1694 1.1728
GBP/ZMW 25.3980 25.4718
EUR/ZMW 23.2897 23.3501 (BOZ)
ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 15-30 SEPTEMBER

US DOLLAR                  ZMW 19.8600 EURO                 ZMW 23.6116
SOUTH AFRICAN RAND ZMW   1.1984 BRITISH POUND  ZMW 25.5452
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) ($/barrel)  41.53   41.40
COPPER ($/ton)  6,725.50   6,810.00
COBALT ($/ton)  33,965.00   33,965.00
NICKEL ($/ton)  14,365.00   14,554.00
ALUMINIUM ($/ton)  1,718.50   1,744.00
LEAD ($/ton)  1,851.50    1,873.00
ZINC ($/ton)   2,422.00   2,472.00
STEEL ($/ton)   448.50    450.00
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

Experts gives budget hints

A public finance management expert has called our Government to limit the 2021 national budget to below K106 billion due to lower projected revenue on account of coronavirus.

Read more in daily mail

Energy independence with solar

UNITED States of America politician Bernie Sanders once said: “If we are serious about moving towards energy independence in a cost-effective way, we should invest in solar energy.” “If we are serious about cutting air, water pollution and reducing greenhouse gas emissions, we should invest in solar energy.” Indeed, solar can move towards energy independence in a cost-effective way and supplement hydro energy, currently under threat due to the drying up of power generation and water bodies triggered by climate change.
INTERNATIONAL BUSINESS NEWS

Zambia’s Call for Debt Relief Triggers Africa Default Fears

Zambia became the first African country to ask bondholders for relief since the onset of the coronavirus, raising fears of a wave of defaults rippling through the continent as a decade-long debt binge unravels. The southern African country said Tuesday it’s running out of cash to service its debts and needed “breathing space” to plan a restructuring announced earlier. It asked holders of its three Eurobonds totaling $3 billion to defer interest payments of almost $120 million until April, sending the securities plunging to barely half their face value.

 

 
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