ZACCI DAILY BUSINESS NEWS FRIDAY SEPTEMBER 25, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 19.9325 19.9825
ZAR/ZMW 1.1640 1.1674
GBP/ZMW 25.4298 25.5016
EUR/ZMW 23.1994 23.2656 (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) ($/barrel)  41.96   41.53
COPPER ($/ton)  6,538.50   6,725.50
COBALT ($/ton)  33,965.00   33,965.00
NICKEL ($/ton)  14,179.00   14,365.00
ALUMINIUM ($/ton)  1,697.50   1,718.50
LEAD ($/ton)  1,856.50    1,851.50
ZINC ($/ton)   2,379.50   2,422.00
STEEL ($/ton)   448.50    448.50
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

Zambia in 240m euros EU energy boost

Funds to promote renewable energy production. To increase access to electricity and production, the European Union (EU) has given Zambia more than 240 million euros under the European Union Development funding.

Read more in daily mail

Proflight Joburg touchdown on October 1

PROFLIGHT Zambia will launch flights between Lusaka and Johannesburg on October 1 as air traffic increases following the planned reopening of borders in South Africa. Prior to this development, Proflight was servicing the Durban route. COVID-19, which has affected all sectors including aviation, resulted in the closure of most international airports and suspension of some passenger flights to various destinations.
INTERNATIONAL BUSINESS NEWS

Zambian Budget Speech to Set Stage for Debt Relief, IMF Talks

Zambia’s finance minister will have to assure creditors he’s got a plan for the country’s debt and convince the International Monetary Fund the government merits a bailout when he presents his annual budget on Friday. At the same time, Bwalya Ng’andu must find ways to ensure a rebound for an economy forecast to contract the most since 1994, and make its finances more sustainable with elections set to be held in August 2021. The southern African nation has for years overspent its budget, while running up external debt and draining foreign-exchange reserves. Combined with that, a collapse in tax revenue as a result of the pandemic’s shock left the government short of cash, prompting it to approach Eurobond-holders this week to seek a six-month freeze on interest payments.

 

 
Twitter
Facebook
Website

Leave a Reply

Your email address will not be published. Required fields are marked *