KCM debt projected to reach over $4 billion, as Kwacha rebounds; see our top 10 stories of the week

In case you missed them, here are our top 10 stories of the week:

1. Konkola Copper Mines (KCM) is set to meet creditors to save Zambia’s largest copper mine from complete insolvency with its debt projected to reach US$4 billion by March, 2024. Read more….

2. “The Kwacha is on the counter attack,” Finance and National Planning Minister, Situmbeko Musokotwane, has said on Friday. Read more…

3. Zambia’s Central Bank has hiked its benchmark lending rate by 150 basis points to 12.5 percent. Read more….

4. Zambia and Gambia have signed an agreement aimed at, among others things, sealing revenue leakages in all tax types, including the Value Added Tax which has proved to be a challenge on the African continent. Read more….

5. The Zambian Kwacha has so far this year depreciated by 4.6 percent as at February 13, 2024 driven by constrained supply of the foreign exchange in the market. Read more….

6. United Kwacha Alliance (UKA) interim Chairperson, Sakwiba Sikota, has alleged that the United Party for National Development (UPND) is scheming to amend the constitution to elongate the presidential term to seven years due to unpopularity. Read more ….

7. President Hakainde Hichilema has requested religious leaders to pray for the nation’s prosperity in all areas, including food security, as it is a matter of national security. Read more….

8. Zambia Must Prosper (ZMP) party leader, Kelvin Bwalya, has threatened to take legal action against the state if his party is stopped from holding rallies and meetings. Read more….

9. Renowned American gospel minister, Travis Greene, will be sharing the stage with Zambian artistes, Pompi and Kings Malembe Malembe, for a charity concert slated for Kenneth Kaunda International Conference Centre on March 8, 2024. Read more….

10. Cote d’Ivoire secured their third Africa Cup of Nations victory by defeating Nigeria 2-1 in the 2024 tournament at the Olympic Stadium of Ebimpe. Read more….

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