Theta - Finance & Business

  • Home
  • Theta - Finance & Business

Theta - Finance & Business Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Theta - Finance & Business, .

14/06/2023

BLOOMBERG

Zambia’s Creditors Close to Debt Restructuring Deal, IMF Says

13 June 2023 at 17:32 GMT+2

Zambia’s creditors are close to agreeing to a long-awaited debt restructuring deal that will allow the International Monetary Fund to disburse $188 million to the distressed African nation.
“We’ve had initial agreements to provide financing assurances so the IMF can proceed with providing financing with Zambia,” Abebe Aemro Selassie, the fund’s director of the African Department, said during a panel at the Bloomberg New Economy Gateway Africa forum in Marrakesh, Morocco, on Tuesday.

31/05/2023

Minister of finance Dr Situmbeko Musokotwane has urged the Zambia Creditors Committee to make progress in its next meeting saying 'this will facilitate preparation of the Memorandum of Understanding, so that we may swiftly resolve our debt overhang and access our next tranche of IMF financing'.

The Creditors' Committee is scheduled to hold its next meeting in the month of June. Expectation is that significant progress will be made following engagements at the last IMF/World Bank Spring Meeting.

24/05/2023

Rock n roll legendary musician Tina Turner has died at the age of 83.

24/05/2023

Zambia May 2023 inflation was recorded at 9.9% compared to 10.2% recorded the previous month.

23/05/2023

At least 100 mining licenses have been canceled following audit of the mining Cadastre. The canceled licenses will be streamlined and reissued to small scale miners.
Mines minister Paul Kabuswe has said.

17/05/2023

The MPC, following it's Q2 2023 sitting, has adjusted upwards the policy rate by 25 basis points (0.25 percentage points) to 9.50%.

17/05/2023

FRA has set the floor price of maize at K280 per 50kg for the 2022/23 season.

The agency is projecting to buy 500, 000 metric tonnes of maize.

16/05/2023

TAZAMA pipeline suffers leakage

A portion of the newly reconfigured TAZAMA pipeline in Mbeya Tanzania has been punctured in an accident leading to a leakage of diesel. The accident reportedly happened when a grader belonging to TARURA (Tanzania Rural and Urban Roads Agency) hit into the pipeline whilst doing some roadworks in Mbeya.

TAZAMA has since shut down the pipeline to allow repairs which are already in progress. The company has said the loss from the leakage will only be quantified once the repair works are completed and the line reopened.

TAZAMA pipeline was recently reconfigured to carry low sulfur diesel (gasoil) from Dar es Salaam to Indeni in Ndola from previously carrying co-mingled oil products.

16/05/2023

The Monetary Policy Committee (MPC) is holding its 2023 Q2 meeting from 15-16 May. This will be followed by a press briefing by the Governor on 17th May to announce the decisions of the Committee.

Expectation is that the Committee will increase the policy rate to reign in inflation. At a minimum, the policy rate is likely to be left unchanged.

13/05/2023

Mukwandi Chibesakunda and Faith Mukutu named among Africa top 20 female corporate leaders..

Top 20 with company’s revenue:

⭐️Natascha Viljoen, CEO Anglo American Plc SA $41.6bn

⭐️Nompumelelo Zikalala, CEO Kumbe Iron Ore Ltd SA $6.9bn

⭐️Mpumi Madisa, CEO Bidvest SA

⭐️Bertina Engelbrecht, CEO Clicks Group Ltd SA $2.6b

⭐️Nombasa Tsengwa (Ph.D.), CEO Exxaro Resources SA $2.2bn

⭐️Albertinah Kekana, CEO Royal Bafokeng Holdings SA $1.1bn

⭐️Olusanya Miriam, MD Guaranty Trust Holding Company Nigeria

⭐️Jane Karuku, Group Managing Director & CEO East African Breweries, Kenya $970m

⭐️Ntombi Felicia Msiza, CEO Raubex Group Ltd SA $781m

⭐️ Nneka Onyeali-Ikpe, MD & CEO Fidelity Bank Nigeria $600m

⭐️Zanele Matlala, CEO Merafe Resources SA $546m

⭐️Ramasela Ganda, Group CEO Zeda Ltd SA $518m

⭐️Ruth Zaipuna, CEO NMB Bank Plc Tanzania $485m

⭐️Nasim Devji, Group CEO & MD Diamond Trust Kenya $370m

⭐️Dr. Hendi El Sherbini Group CEO Integrated Diagnostics Holding Egypt $333m

⭐️Mukwandi Chibesakunda, CEO Zanaco Zambia $321m

⭐️Faith Mukutu, CEO Zambeef Products Ltd Zambia $318m

⭐️Catherine Lesetedi Group CEO Botswana Insurance Holdings Ltd Botswana $306m

⭐️Godrey Ogbechie, Group ED Rainoil Nigeria $276m

⭐️Owen Omogiafo, President & Group CEO Transcorp Plc Nigeria $273m

Full list of the Top 40: https://lnkd.in/epcYw6Ra

Africa Women CEO Network

11/05/2023

Ministry of health is to invest in an oxygen plant at Kitwe General Hospital at a cost of US$1.6 million to save at least 5 districts on the Copperbelt. The development will be with the support of UNICEF and Swedish govt.

11/05/2023

ZICA calls for Plan B in debt restructuring process

Zambia Institute of Certified Accountants (ZICA) president Cecilia Zimba has challenged the ministry of finance to put in place a Plan B for debt restructuring in case the process takes longer than planned.
Ms Zimba was speaking at a signing event for an MOU between ZICA and LAZ.

09/05/2023

The Copperbelt Bus Operators Association has agreed to reduce inter mine bus fares to stimulate bus travel demand.
The Association chairperson has said...

08/05/2023

Suspension from trading of the ZCCM-IH shares on the London Stock Exchange is due to the company's failure to publish 2021 & 2022 financial statements.
Company Secretary Charles Mjumphi has stated.

07/05/2023

FCA suspends trading in ZCCM-IH shares.

The London Stock Exchange has announced that the UK's financial services regulator, the Financial Conduct Authority (FCA) has temporarily suspended trading in ZCCM-IH shares. No reason has been given so far for the suspension.

Earlier in 2022 France's Euronext stock exchange had sanctioned ZCCM-IH for failure to publish financial statements. The sanction was lifted in November 2022.

07/05/2023

The board of the IDC has appointed Kakenenwa Muyangwa as chairperson of ZCCM-IH with immediate effect.

This follows the resignation by the previous chairperson Dorika Banda last month.

06/05/2023

The IMF MD Kristalina Georgieva has said the Fund will soon release the second disbursement under the Zambia 3 year ECF after the country and its creditors agree debt restructuring terms.

The Zambia Creditors Committee will meet next week to consider the proposal that the country sent to it last month.

29/04/2023

Zambia inflation creeps to double digits

Zambia April 2023 inflation returned to double digits for the first time in almost a year and the third increase in a row. The April inflation was recorded at 10.2% from 9.9% in March. The increase was attributed to both food and non-food inflation.

23/04/2023

Davido's management team has predicted that the Nigerian musician will earn more than $20 million in 2023 from tours, royalties, merchandise sales and endorsements...

22/04/2023

Energy expert Johnstone Chikwanda has said the decision by ERB to maintain the life line electricity units at 100 is welcome and unprecedented.

16/04/2023

BOZ governor Kalyalya has said the Staff Level Agreement Zambia signed with the IMF last week has contributed to the appreciation of the Kwacha.

13/04/2023

Kwacha rebounds

The Zambian Kwacha has been on a bull run for the past one week posting gains of circa12% over the period against the US$. This was after trading on the backfoot for at least six months with consistent daily loses amidst dwindling supply, heightened demand and weak sentiment around debt restructuring efforts.

The Kwacha's newly found strength comes on the back of diminishing dollar demand exacerbated by Corporates' need to convent their FX holdings to meet quarterly tax payments. This was coupled with weakening demand.

The seemingly positive news around debt coming out of the sidelines of the IMF/World Bank Spring Meetings may see the Kwacha trading even more bullish in coming sessions. Sustainability of this positive Kwacha trend may still depend on successful conclusion of debt talks.

03/04/2023

Inflation edges higher

Zambia inflation climbed to 9.9% in March 2023 from 9.3% the previous month. The increase is on the back of a weaker exchange rate which has pushed prices of fuel and mealie meal up. The March reading is the highest in 3 months.

28/03/2023

Zambia is set to start commercial Uranium production in 2027. GoviEx Uranium, the company with mining rights has exclusively confirmed that the company is expected to secure the project financing and start construction at Muntanga Uranium Mine once the bankable feasibility study is completed. GoviEx Uranium Head of Investor Relations and Corporate Communications Isabel Vilela disclosed that the Company aims to deliver a bankable Feasibility Study for the much expanded Muntanga Uranium project by next year in 2024. The mine is located in Siavonga district of Southern Province.

fizambia.com

Address


Website

Alerts

Be the first to know and let us send you an email when Theta - Finance & Business posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Shortcuts

  • Address
  • Alerts
  • Claim ownership or report listing

  • Want your business to be the top-listed Media Company?

Share