Gemfields Faces High Tax Burden in Zambia as Export Duty Returns Shares of Gemfields (LON: GEM) (JSE: GML) dropped on Wednesday after the colored gemstone miner revealed it faces a steep tax hike in Zambia due to the reintroduction of a 15% export duty on emeralds. The export tax, reinstatedContinue Reading
Prime Minister Judith Suminwa has declared a nationwide moratorium on state control missions targeting businesses, following concerns raised by the Federation of Congolese Enterprises (FEC) regarding the administrative burden at the end of the fiscal year. The suspension, which is effective from December 16, 2024, to January 30, 2025, isContinue Reading
Zambia has been ranked among the top 10 fastest-growing economies in Africa for 2025, according to the latest World Economic Outlook report from the International Monetary Fund (IMF). The IMF forecasts a 6.6% GDP growth for Zambia, placing it sixth on the continent. This growth is expected to be drivenContinue Reading
Zambia’s Ministry of Energy is making a passionate appeal for increased investments in sustainable electricity generation to bridge the country’s significant power deficit, exacerbated by climate-induced low water levels. Speaking in Lusaka, Permanent Secretary Peter Mumba emphasized the government’s unwavering support for energy sector investments, highlighting the urgency of theContinue Reading
The World Bank has approved a $100 million financing package aimed at enhancing Zambia’s ability to manage natural disasters while strengthening its economic and climate resilience. The package combines a Climate and Economic Resilience Development Policy Financing (DPF) grant with a Catastrophe Drawdown Option (Cat-DDO), reflecting a dual approach toContinue Reading
The Central Bank of Congo (BCC) has released its economic report for the second week of December 2024, highlighting diverse trends in the prices of major commodities as of December 12, 2024. Performance of Key Commodities International Food Commodity TrendsGlobal food prices generally trended downward: Economic InsightsThe BCC report underscoresContinue Reading
UAE Eyes Strategic Partnership with Zambia to Boost Trade and Investment Michael Joseph Staford, Chief Financial Officer at Rafmol Gold in the United Arab Emirates (UAE), has emphasized the UAE’s keen interest in collaborating with the Zambian government to drive investments that directly benefit the Zambian people. Speaking at aContinue Reading
China Non-Ferrous Metal Company has reinforced its dedication to empowering local communities, setting a transformative example through its operations in Zambia. Robert Kamanga, Deputy Chief Executive Officer of Shaft 28 Technical, unveiled remarkable progress in the dewatering process at the Shaft 28 Mine, a project energized by a game-changing $100Continue Reading
DRC Faces $164 Million Budget Deficit Amid Rising Public Expenditures The Democratic Republic of Congo (DRC) is grappling with a budget deficit of approximately 575.9 billion Congolese Francs (CDF), equivalent to over $164 million, as of November 13, 2024, according to the Central Bank of Congo (BCC). This financial shortfallContinue Reading
Mimosa Resources and Mkushi Traditional Leaders Inspired by FQM’s Sustainable Mining Practices Mimosa Resources, in collaboration with the traditional leadership of Chief Chitina’s chiefdom in Mkushi, has commended First Quantum Minerals’ (FQM) commitment to sustainable mining practices following an eye-opening tour of the Kansanshi Mine in Solwezi, North-Western Province. TheContinue Reading
