ZACCI DAILY BUSINESS NEWS MONDAY SEPTEMBER 28, 2020

FOREIGN EXCHANGE: ZMW:

BID OFFER
USD/ZMW 19.9431 19.9931
ZAR/ZMW 1.1675 1.1709
GBP/ZMW 25.3956 25.4673
EUR/ZMW 23.2038 23.7000 (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) ($/barrel)  41.63   41.96
COPPER ($/ton)  6,529.50   6,538.50
COBALT ($/ton)  33,965.00   33,965.00
NICKEL ($/ton)  14,265.00   14,179.00
ALUMINIUM ($/ton)  1,708.50   1,697.50
LEAD ($/ton)  1,815.00    1,856.50
ZINC ($/ton)   2,365.50   2,379.50
STEEL ($/ton)   449.00    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

Zambeef pats State on back

ZAMBEEF says Government’s move to increase import duty on livestock products will unlock local capacity, which has for a long time been hampered by the influx of imports. On Friday, Minister of Finance Bwalya Ng’andu, in his 2021 national budget presentation, announced that Government will increase import duty to 40 percent from 25 percent on agro-products such as beef and pork, and chicken and their processed chicken products. Others are fish imported from outside the Southern African Development Community.

State suspends import duty on biological control agents

IN an effort to promote non-traditional exports, Government has suspended import duty on biological control agents and removed import duty on greenhouse plastics to revamp the horticulture and floriculture subsectors. Zambia’s horticultural production has dwindled by over two-fold from about 220 hectares, with a number of export farms ceasing operations due to inadequate capital injection in greenhouses. With Zambia’s population increasing, the demand for horticulture commodities and products has increased drastically in urban towns such as Lusaka, Ndola, Kitwe, Chingola and Livingstone, among others.
INTERNATIONAL BUSINESS NEWS

Skilled Workers Seek Jobs on the Streets of South Africa

South Africa is forecast to set an unwelcome world record this week when its statistics agency is predicted to report unemployment rose to a record 34.8% in the second quarter, which would be the highest of 83 countries tracked by Bloomberg. Ayanda Mbatha was among the unlucky ones who joined the ranks of the unemployed in the period. Dressed in a shirt and tie, the 26-year old mechanical-engineering graduate spent four weeks at intersections in the affluent Johannesburg suburbs of Hyde Park and Sandton advertising his skills on a placard around his neck and with copies of his CV in his hand, in the hope a passing motorist could help with a job offer.

 

 
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