ZAMBIA NEWS

The Bank of Zambia (BoZ) Monetary Policy Committee (MPC) has reduced the benchmark lending rate by 150 basis points from 15. 5 percent to 14.0 percent. BoZ Governor Denny Kalyalya says the Committee has also shed off 400 basis points on overnight lending rates from 1000 basis points to 600 basis points above the policy rate. Dr. Kalyalya has told ...

Post Newspapers Limited in Liquidation proprietor Fred M’membe’s wife Mutinta has pleaded not guilty to one count of contempt of court. This in a case in which Mrs M’membe is alleged to have torn a search warrant presented to her by Police officers who had gone to conduct a search at her residence located along Nagwenya road in Rhodespark on ...

The Media Institute of Southern Africa (MISA) says there is no merit in the excuse government wants to use to delay the enactment of the Access to Information Bill into law. MISA Zambia chapter Chairperson Helen Mwale says MISA does not think that the Access to Information being part of the expanded Bill of Rights which failed during the referendum ...

The Law Association of Zambia has joined the case in which four opposition parties have petitioned the Constitutional Court to interpret the Constitution with regards President Edgar Lungu‘s eligibility to contest the 2021 presidential election. And the UPND through its Secretary General Stephen Katuka together with Heritage party President Brigadier General Godfrey Miyanda have also applied to join the case. ...

Zambia’s electricity generation capacity has increased to 1,573 Mega Watts against the peak demand of 1,900 Mega Watts. Energy Minister David Mabumba has attributed the increase in power generation to improvements in waters levels in the reservoir dams of the power stations. Mr. Mabumba has told a media briefing held in Lusaka today that this has led to power stations ...

The Economics Association of Zambia says country’s economy is expected to perform better this year compared to 2016 following the reduction in the inflation rate from double to a single digit and the rebound in copper prices on the international market. EAZ Programs officer Kampamba Shula says the expected improvement in performance of the economy is also as a result ...

Patriotic Front (PF) Secretary General Davies Chama has directed PF Western Province Chairperson Charles Mututwa to immediately suspend two party members who are part of a group that has sued the Litungu in an effort to dethrone him. In a statement, Mr. Mwila says this is to avoid unwarranted suspicion and of malicious propaganda that the party is supporting the ...

Zambia’s economic growth is seen rising to 4 percent in 2017 and 4.2 percent in 2018, the World Bank has said, predicting a jump in copper prices and improved power supply. Reuters reports that the World Bank’s senior financial management specialist Srinivas Gurazada has said at a meeting with mining firms that Zambia is on a slow economic recovery path. ...

The opposition National Restoration Party (NAREP)is disappointed with President Edgar Lungu’s recent suggestion to traditional leaders that they mind their own business. President Lungu is reported to have made the comment following an appeal by some chiefs that he dismisses PF Secretary General Davies Mwila. NAREP Presidential spokesperson Bwalya Nondo says much as he is saying he has no reason ...

President Edgar Lungu has been hailed for making Zambia’s recognition of the International Criminal Court (ICC) as a tool for good governance public. Opposition Zambians for Empowerment and Development (ZED) leader Frederick Mutesa says his party believes that, in this statement, President Lungu referred to the ICC correctly. Dr. Mutesa says the ZED has however taken note that President Lungu’s ...