ZAMBIA’SZERO MADISON RATING BOND FINANCEFUEL STOCK COSTS GETS UNDERGOVT $35M K3BILLION INVESTMENTSCRUTINY LOSS

BOZ REVISES K10BN STIMULUS FUND TERMS Thursday17 September, 2020 $250, 000 has been ZAMBIA MAKES STRIDES invested in setting up a laboratory that will establish gold content in ore which will be bought from artisanal and small scale gold TOWARDS FISCA

this year set up a K10 billion holidays, do actually reach TMTRF meant to provide re- their respective clients,” BoZ lief to businesses and house- said. holds for them to survive the The bank said it reserved challenges caused by Covid-19 the right to change the pric- through affordable financing. ing mechanism as conditions

According to the revised might dictate. terms and conditions, the in- It, however, explained that terest rate applicable on the would not apply to already facility would be fixed over exiting advances made under the life of each advance at the facility. has continued to make the strides prevailing Central Bank’s The ternal FSP debt that was offered last an reported in- BUUMBA towards fiscal CHIMBULU fitness, as the 2021 national

Monetary Policy Rate (MPR) terest at US$11.7billion rate to a client ( June). within The LAZARD

budget is expected to set a direction for that it deserves with a leadership were still encouraged. by Lyco Business Solutions, a Freres Gestion at the time of granting the ad- five Ministry percentage of Finance points has from restrict- team that has unmatched Mr

ed Nonde external said leading debt the focus contracting Business of the Advisory Government to and has The country commenced continues a to make dol- strides vance. ZCCM-IH has set up the laboratory in the rate prevailing on the fa- XYLEM GOVERNMENT Trading (Pty), will this a company year lose K3 billion

towards fiscal fitness with an ongoing success,” he said in a statement. was to support Capital the industry Raising and Firm ensure which that is the This external means lar bond debt that restructure stock should take with at for Lazard partnership The Freres, document with Karma indicates Mining Services Xylem will acquire 72.05 cility fund shall fiscal be represented programs entitled to in but Zambia, an will the region,

and revenue investment economy continued to operate.

Zambia as a result vehicle of zero rating and of fuel Rural Development Limited in any time a French during Investment after the life appoint- Banking circle firm. that interest will be paid an- percent of MFS following a additional use domestic borrowing Europe and amount the United States of

money markets

incorporated importation “If series you have challenges as economic players, ing Morrow meant in Sodali South to Africa stabilise collate pump Consolidated prices Gold Company.

This is according to Mr Mutisunge Zulu, obligations to contractors, suppliers and to raise finance,” the Telegraph of has in the expressed facility medium the confidence term. MPR be ad- in the information a Non-Executive on the Chief debt Macro hold- Business nually with a 12-month grace of liquidity, credit and solvency you equivalent need the to make to America. 20 specific percent requests of to the

Chief Executive retirees. Officer, Mabvuto said. Strategist upwards, and economy petrol at the FSPs were Kwacha as will it this invests Arbitrageur. not month Chipata, included explained that the purpose of justed Zambian ers Diesel and facilitate communica- period.

Mr Zulu said some of the effects of company has been facing Government the since initial borrowing and MFS then Group we amount. see Executive what the impact Kwacha Arbitrageur is an economics and an The Telegraph acknowledged be US$35million on rates arrears dismantling on the programme had 2019. tions. allowed the zero-rating to in pass the schedule on financial that of to the Value the “Interest joint Added venture was to develop a gold will “FSPs be . are Chairman, obliged to Lawrence report Sikutwa,

research unit of the Business Telegraph. exacerbated dollar demand causing a that Government’s steps to a industry Tax customer Government (VAT) Lazard through Act thereby named which Madison Morrow absorbing became Sodali effective to Facility help processing on 1st shall and be priced trading off operation the in Xylem’s experienced team to “Off the course bank we said the need the interest deal to evaluate meant rate that if the the MFS

in May this year currency rout in the absence of adequate restore fiscal register Zambian dollar bond holders as part is eager to get to work on incentive their is isolated Group fitness or would if it was affects maintain com- the and entire greatly the Financial January, hired burden. Lazard 2021. Services Freres (MFS). Gestion of MPR Zambia. with a reserves. 12-month This, he mora- explained, was coupled and any other relief offered to

of commencement the liability restructuring with expansionary monetary policy through investment in which they are industry. plemented We also improve by need talks efficiencies, to see with the the impact quality of of France The As Xylem a Central result has of great this Bank move, confidence in April the State in will Mr forego Chipata said the investment was process. for US$5 million to re- torium on both deep benchmark principal interest and rate cuts to a their

Washington clients,” products the based BoZ and said. lender, innovation. the the K3 Zambian billion of its economy revenue for this hence year. in line with one of ZCCM-IH’s strategic structure Mr Zulu its US$11 explained billion that and for- confident of achieving significant revenue collection because if Government does

Zambia had made historical low of eight percent. faceliftByAtlasMaragivesChingolabranch the Zambia investment strides Revenue in fiscal in MFS fitness Authority which it seeks (ZRA) it will an economic objectives of Meanwhile, value creation Mr Zulu which said with was an economic financial returns which merit not the have resources, Dr Sikutwa it becomes indicated very difficult that for

International Monetary Fund eign debt over a three year pe- tegic advice and shareholder advisory firm (agent) acting on

recovery into programme General, a fully-fledged with Kingsley the International Chanda, to diversify rebound its investments expected in away 2021, from the fiscal budget multimillion US Dollar investment Government to the operate,” key changing he said. point for the grow Commissioner further (IMF), for an economic bailout

BUUMBA Monetary CHIMBULU Fund (IMF) riod, a 0.05 percent of the entire services to corporate clients behalf its principle, the Zam- financial however services said the group K3 billion with would be copper recovered to other would minerals spell exactly such how as all initiatives gold aimed of US$35million in the Group Mr package. while Nonde stressed Group’s that turnaround Government lied in was new still foreign He debt portfolio. this in the latest Kwacha around the at growing world, the to economy organise would bian be funded. government. “influence in the Arbitrageur process to reckon as Report the with move on in Zambia the would Economic trigger and other higher precious metals. seeking to inject additional open fresh because On September capital the pandemic investment 25, Finance kept to evolving. improve the

Zambia’s dollar bond stock information Finance on the Minister, debt Bwalya hold- Ng’andu, This, present said the Telegraph, AN Southern consumption IVESTMENT Outlook: African “Extraordinary of fuel. Development of uncertain over times He with Dr said Sikutwa this during the laboratory working capital to grow the “We MFS Minister, do not know Bwalya performance who Ng’andu, else of is each going will of to the be Group rests at US$3 billion in three ers and facilitate the 2021 national communica- budget on Friday came next a few months after the

silver-linings as disease pandemic risks media that tour in Lusaka and yesterday. Central Group. affected sign present of that recognition the is companies. why fiscal it is of difficult budget the prov- for for Government K320,000 Community Mr Chanda region. by said Atlas yesterday Mara in Lusaka North-Western week.

streams deepen.” of maturities namely tions. socio-economic French investment environ- banking Zambia much 2022, This as 2024 is in ZRA according the and has refurbishment 2027, lost to part Xylem’s respec- of its revenue provinces “This take-on for is this also opportunities in line “Sometimes with that Government’s appear we need to lose Commenting money to make on the investment, to give a blanket exemption “Our eyes were to all players set on finding but Mr Zulu said President Edgar Lungu in his

2021 as which the largest many stakeholders contributor “In the interim appetite for Zambia’s local This according address Solomon to parliament to the Ngondo Busi- re-opening, ment firm signalled had that been had settled been caused for to re- by ince

classification meant when to be convenient well of gold money. but as a It those strategic was a which good move Mr by ore Kantumoya Government that would said: be to “we received take we will pride from continue various a lasting responding solution as to and the when Group’s the of Chief year its through Executive paper Chingola had the picked Officer, incentive, Branch up Kajiya in June the has and move July tively. said ness the Telegraph bank a wide Magazine. array was of proud initiatives to and interventions Covid-19. structure the copper producers to include the country’s dollar bond gross holders domestic are Kantumoya. for the the industry announcement and consumers. around the IMF being resource can add for to value. Zambia,” the economy mitigate he to against said. help recoup prices lost going growth in what miners, up. As has you who been know would achieved get pandemic a by fair the share evolves and challenges within the including economy. the MAMCo bolstered Lazard, mandated the which bank’s to commence is a quest French talks to with the have Consolidated “As investors Gold the Kwacha interested Company depreciated in Chief the almost by 46 According completed to the refurbish- Telegraph, liabilities, He said 30-35 the bank percent had of con- Eu- product keen on (GDP). to provide economic

dented by COVID-19. outgoing value for major their percent,” shareholders material. “So with if economic creditor sectors problem. are hit We hard are and going we expand investment “We In MFS, have services Mr lost Kantumoya part across of our said, projected the revenue Ministry of banking Finance,” firm Mr Zulu has said. ment Executive wholeness of the Officer, Chingola of he the Faisal said. business branch Keer, in explained rather tinued the to maintain growth “As Karma of MFS the Mining biggest and we Services dis are not think and Rural of into that 2021 initially assured then we of a will strong have to

Lazard had “The commenced Republican a President cred- has robond set the holders domiciled in direction He was for speaking Zambia, especially yesterday Xylem for 2021 saw He but said that we local it are could debt confident restructure add to that had the taken incentives Covid-19 pandemic effects

tone from process the top to which gear stakeholders Europe seek and United States. after the in official gold tools financial to relocation address position that and that sector re- will of add the value country. therefore engaged Morrow So- 2020 that itor grouping as laboratory some planned. business Meanwhile, would units be able only, Ministry to we branch of Finance poised Development, Director- ATM for Xylem network our to take expertise in the find Group at policy is Zambia’s given and than the

shape to the economic through manufacturing a growth confluence industry and of actions dali, a leading provider of stra- up for negotiations clarity on funding with through the the estimates “The of copper producer’s ex- on growth and fiscal posture. create transporters Regional ranging more head employment. will from result balance of branch in sheet higher and expansion consumption process Mr have Ngondo about already revenues 30 budget, said created samples and expenditures this Joseph strategies per was day. Nonde to the be to presented Copperbelt said to applications the processing, next Province. level from but of greatness.” we are economy. mostly launch working We of to are the the still bank’s overall open, Chingola performance you can still of make the distribution programmes to issuance of longer dated Mr push Keer the said by Group Finance the economic laboratory to Minister the higher players Dr. was Bwalya status critical requesting Ng’andu on with The tax incentives artisanal transaction and was small facilitated requests scale gold for appropriate Group,” he policy said. tool,” he said. and “Our we philosophy will recover for the Copperbelt, is the not revenue. to done despite the negative Mr Ngondo said this a branch. COVID-19 bonds aimed at dismantling of

to determine the the 25 September gold accurately 2020,” he in said. the miners. Mr Zulu

Bank of Zambia (BoZ) has revised the terms and conditions un- der the Targeted Medium- Term Refinancing Facility (TMTRF), emphasising that Financial Service Providers (FSPs) do not increase in- terest rates on the funds in case of an upward adjust- ment on the pricing of mon- ey in the market.

Mr Chanda

interest.

“The interest rate applica- ble for onward-lending by the FSP shall be fixed over the life of the advance,” BoZ said in the revised document.

The Central Bank said much as FSPs were free to set the interest rate charged to clients on the advance ob- tained from the facility, they were obliged to pass on the benefits of the low interest rates on the facility to their cli- ents and to demonstrate that they had done so at the time of disbursement.

“FSPs that shall obtain ad- vance (s) under this facility are therefore expected to re- structure their portfolios to ensure the benefits, includ- ing provisions of repayment