Creation of sinking fund received with mixed feelings

Creation of sinking fund received with mixed feelings »

9 Sep, 2015
Business

Government’s move to create a sinking fund aimed at repaying the two 10-year sovereign Eurobonds has been received with mixed feelings by some sectors of society. Some stakeholders have welcomed the move while others claim it is all political propaganda.

Zambia records an increase in financial inclusion

Zambia records an increase in financial inclusion »

21 Aug, 2015
Business

ZAMBIA has seen this year seen an increase in financial inclusion among the adult population, the 2015 Finscope Survey has recorded. Speaking when he presented the findings during a one day e-money card and payments summit, Bank of Zambia (BoZ) deputy governor Bwalya Ng’andu, revealed that financial inclusion among the adult population had increased from 37.3 percent in 2009 to 59.3 percent this year.

Channel the Eurobond to social economic infrastructure – Yussuf Doldia urges

Channel the Eurobond to social economic infrastructure – Yussuf Doldia urges »

13 Aug, 2015
Business

PRIVATE Sector Development Association (PSDA) chairperson Yussuf Doldia says the recently acquired Eurobond can only yield better results if channelled towards social economic infrastructure. Mr. Doldia said channelling the Eurobond towards social economic infrastructure will bring about economic development adding that this can help service the debt. Mr. Doldia said government borrows in order to finance its own program.

Zambian banks face money shortage

Zambian banks face money shortage »

31 Jul, 2015
Business

THE Bankers Association of Zambia (BAZ) says banks in the country are struggling to support key sectors of the economy because they do not have enough funds. BAZ President Leonard Mwanza told the Lusaka Star in a telephone interview today that the recently increased statutory reserve ratio empowers the central bank to be entitled to as much as 18 percent of all deposits made in Banks.