Business - Zambia Streets

CORRUPTION IN NEW DAWN, ITS MILLIONS OF DOLLARS IN CASHLESS ECONOMY

CORRUPTION IN NEW DAWN, ITS MILLIONS OF DOLLARS IN CASHLESS ECONOMY The News Diggers is carrying a story on the ACC investigating Zambia Army and Ministry of Defence for corruption involving over 5 million US dollars. It’s been scandal after scandal. Anyway below is the story which also involves a Kenyan company: THE Anti-Corruption Commission… Continue reading CORRUPTION IN NEW DAWN, ITS MILLIONS OF DOLLARS IN CASHLESS ECONOMY

BRACE YOURSELF FOR MORE LOADSHEDDING HOURS…………as Maamba Collieries embark on maintenance

BRACE YOURSELF FOR MORE LOADSHEDDING HOURS…………as Maamba Collieries embark on maintenance The minister of energy, Hon. Makozo Chikote MP, has disclosed that Maamba Collieries Limited is scheduled to undertake mandatory maintenance commencing at the end of August 2024 and continuing into September 2024. An exercise will cause an extra power deficit of 135 MW for… Continue reading BRACE YOURSELF FOR MORE LOADSHEDDING HOURS…………as Maamba Collieries embark on maintenance

You need friends;Zim to support Zambia’s candidate in the AfDB race

You need friends;Zim to support Zambia’s candidate in the AfDB race President of the Bank, Dr. Akinwumi A. Adesina, a national of Nigeria, was elected on 28 May 2015, and commenced his first term on 1 September 2015. Following his re-election on 27 August 2020, Dr. Adesina commenced his last 5-year term on 1 September… Continue reading You need friends;Zim to support Zambia’s candidate in the AfDB race

IMF WARNS HICHILEMA OF SERIOUS PUNISHMENT

IMF WARNS HICHILEMA OF SERIOUS PUNISHMENT The International Monetary Fund (IMF) has warned Zambia against a proposed dedollarization initiative, citing the potential underminement of inflation control efforts. The IMF says the country’s economic conditions are not conducive to dedollarization, as it lacks low and stable inflation rates. The IMF’s warning comes after the Bank of… Continue reading IMF WARNS HICHILEMA OF SERIOUS PUNISHMENT

HICHILEMA REPLACES IGNATIUS MWANZA WITH NGENDA NYAMBE AS CEO OF ZICB

HICHILEMA REPLACES IGNATIUS MWANZA WITH NGENDA NYAMBE AS CEO OF ZICB The IDC has picked Ngenda Nyambe as new Chief Executive Officer of the Zambia Industrial Commercial Bank (ZICB) to replace Ignatius Mwanza. Mwanza, a veteran and astute banker, was fired for allegedly being too close to Lusaka Catholic Archbishop, Dr. Alick Banda. Mwanza sits… Continue reading HICHILEMA REPLACES IGNATIUS MWANZA WITH NGENDA NYAMBE AS CEO OF ZICB

Sporadic Riots Erupt in Chingola as Young Illegal Miners Clash with Police

Sporadic Riots Erupt in Chingola as Young Illegal Miners Clash with Police Tensions boiled over in the mining town of Chingola today as a group of young illegal miners popularly called jeraboz took to the streets to protest the sale of their mining pits to alleged Chinese firms. The crowd, which included children as young… Continue reading Sporadic Riots Erupt in Chingola as Young Illegal Miners Clash with Police

Zambia’s Financial Watchdog Uncovers ZMW13.58 Billion in Suspicious Activity

… An Increase of 133% between 2022 and 2023… The Financial Intelligence Centre (FIC) of Zambia has reported a staggering 133% increase in the value of intelligence reports disseminated to law enforcement agencies, reaching a startling ZMW13.58 billion in 2023, up from ZMW5.83 billion the previous year. This spike in reported illicit financial flows comes… Continue reading Zambia’s Financial Watchdog Uncovers ZMW13.58 Billion in Suspicious Activity

CASINO’S IN ZAMBIA CLEANING DIRTY MONEY

Zambia’s Financial Intelligence Centre (FIC) has released a troubling report, highlighting the country’s growing vulnerability to money laundering and other financial crimes. The report reveals a surge in suspicious financial activity, with the casino industry emerging as a particularly problematic sector. According to the report, the number of suspicious transaction reports analyzed by the FIC… Continue reading CASINO’S IN ZAMBIA CLEANING DIRTY MONEY

UPDATE; VIET-ZAMBIA OBTAINS 250 HECTARES OF LAND IN KANCHIBIYA

UPDATE; VIET-ZAMBIA OBTAINS 250 HECTARES OF LAND IN KANCHIBIYA ..as Super Glory Investment, Ministry of Mines has granted them a Trading Permit for Gold, Silver and Platinum, while the firm has obtained 250 hectares of land in Kanchibiya, and has also obtained construction and mining permits from the NCC as a citizen-owned company… Viet-Zambia Diversified… Continue reading UPDATE; VIET-ZAMBIA OBTAINS 250 HECTARES OF LAND IN KANCHIBIYA