It is no secret that the aviation industry suffered the most due the 2020 corona virus pandemic. With many airlines grounding to a halt and several declaring they were in need financial bailouts, all hope air travel business appeared to diminish. Until now. Royal Zambian Airlines (RZA) was officially incorporated in May of 2020, […]
Zambia owned electricity distribution company, Northwestern Energy has signed a financing agreement with Zambia National Commercial Bank that will see the company expand on its electricity distribution network in the North-Western Province. “On 19th November 2020, Zambia National Commercial Bank (Zanaco) Plc and North Western Energy Corporation signed a power deal for expansion and continued [&h
Metal fabrication company, ZAMEFA, is in the process of concluding its 2020 financial year end results and has signaled to the market that its loss per share will be between 217% to 237% higher than the previous financial year’s results, according to a statement from the company. “In accordance with the Lusaka Securities Exchange (“LuSE”) […]
Zambia’s Ministry of Mines has indicated that the country expects to conclude talks over buying Glencore’s stake in Mopani Copper Mines within a month. “Permanent Secretary in the Ministry of Mines, Barneby Mulenga, expects a deal to be announced in the coming weeks by Mines Minister Richard Musukwa, who said in September that both companies were […]
ZCCM IH recently informed the market on the outcome of the tribunal proceedings which sought to determine whether the Provisional Liquidator at KCM would continue in office or not following Vedanta Resource Limited and Vedanta Resources Holdings Limited pursuing the matter. The ruling was in favor of ZCCM IH by way of the arbitrator dismissing […]
Underwriters take up board seats Reinsurance company, Prima Re. has announced the appointment of two new board members from IDC, according to an issued statement. “Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Prima Reinsurance PLC (“the Board”) wishes to announce the appointments of Mr Mateyo Chresta Kaluba and […]
Zambia Sugar has announced the resignation of its Company Secretary, Mwansa Mutimushi. “In accordance with Section 3.59(b) of the Lusaka Securities Exchange Listings Rules, the Board of Directors of Zambia Sugar PLC wishes to announce the resignation of Ms Mwansa Mutimushi as Company Secretary effective 30th September 2020”, read a statement issued by Finance Director […]
With revenue now exceeding K3.3 billion, CEO Rebecca Katowa has weathered the storm inflicted by COVID 19 as her company announces its August 2020 year-end results to shareholders. The reported financial year-end results are continued improved performance following the successful implementation of project PAAR. Operating profit was up by over K169 million. However, shareholders will […]
ZCCM IH has conveyed a message of condolences to the family of its former Chairman and Chief Executive Francis Kaunda, according to a statement from the group. “The Board, Management and Staff of ZCCM Investments Holdings Plc convey their heartfelt condolences to the Kaunda and Shipoka family on the passing on of Mr. Francis H. […]
Property developer Real Estate Investments Zambia (REIZ) has announced the departure of its Acting CEO and has ushered in a new CEO to take over, according to a statement from the company. “In accordance with the Securities Act No. 41 of 2016, the Board of Directors (“the Board”) of Real Estate Investments Zambia Plc (“REIZ” […]
Economy
