Housewife nabbed over cocaine
A 49-YEAR-OLD woman in Lusaka has been arrested by the Drug Enforcement Commission (DEC) for allegedly trafficking in cocaine.
Rhoda Zulu, 49, a housewife of Kamwala South has been arrested for allegedly trafficking in 51.4g of cocaine.
DEC public relations officer, Theresa Katongo said the suspect was intercepted at her house.
Ms Katongo also said the DEC arrested Ilunga Chisha, 44, also of Kamwala South for allegedly trafficking in 2.8g of cocaine.
And Ms Katongo said the
DEC had in North-Western and Eastern-Provinces arrested eight people for unlawful cultivation of fresh cannabis plants weighing over 300 kilograms.
“Those arrested include Lucky Gumande, aged 39, Rodgers Makondo, aged 61, Taby Muke, male aged 31 and an 18 yearold boy of Kisalala Compound in Solwezi for unlawful cultivation of fresh cannabis plants weighing 260 kilograms,” she said.
Ms Katongo said others arrested in Eastern Province Aries (March 21-April 19)
were Show Msimuko, aged 38, Alick Phiri aged 53, Emmanuel Banda, Something 39, and Simon small Zulu 69 is for bugging unlawful cultivation you today of fresh -cannabis and most plants likely weighing it 56 has
kilograms. something to do with your
She said all the suspects are health in police Try custody not to and freak out arrangements too much, were because being made you for can their probably appearance take before care of
courts. it with little changes.
VARIOUS commercial banks will start sending notifications to their clients who borrowed loans linked to the Monetary Policy Rate (MPR).
This followed the adjustment of the policy rate by the Central Bank to 8.5 percent from eight percent, says Bankers Association of Zambia (BAZ) Chief Executive Officer, Leonard Mwanza.
Mr Mwanza explained that clients should expect a moderate increase on loans linked to the MPR.
“It was quite an expected move given the pressure on inflation, the measure was meant to try and contain inflation from rising further.
“However, the impact of this announcement on the banking public is such that for those that have borrowed from the banks and their loans linked to the MPC. We should expect a modest upward adjustment of 0.5 basis points,” he said.
Mr Mwanza indicated that clients should therefore look out for notifications from their various commercial banks advising the various options which could be take.
“The options might be if you want you could increase your loan tenure depending on your cash flow profile or indeed you can ask your bank to increase your monthly instalments.
“Those are the two options available for those that borrowed and their loans are linked to their MPC,” Mr Mwanza said.
Commenting on the same, Centre for Trade Policy and Development (CTPD) welcomed the decision by the Bank of Zambia to adjust the policy rate upwards..
CTPD Researcher for Public Finance, Wakumelo Mataa, said the rise in the policy rate was expected to subdue aggregate demand pressures and moderate inflation in the medium-term. Mr Mataa explained that this implied that commercial bank lending rates would go up, money supply would contract and there would be a slowdown in demand-pull inflation.
He however said CTPD remained concerned by the sustained fiscal pressures that had continued to inhibit the effectiveness of targeted monetary policy measures.