ZAMBIA’S BOND STOCK AFRICA’S CAPITAL OUTFLOW HITS $5BN BOZ REFORM UNDERACTS TO PROCUREMENTSCRUTINYBOOST FORMAL 25 March, 2021 Thursday17 BUSINESS PACKAGES LAUNCHED FINANCIAL SERVICES

Bank of ble for onward-lending by the Zambia (BoZ) has holds for them to survive the FSP shall be fixed over the life revised the terms challenges caused by Covid-19 of the advance,” BoZ said in and conditions un- through affordable financing. the revised

According to the revised The Central Bank key initiatives said the Bank was pushing through to address the

terms and conditions, the in- much as FSPs were free to

challenges of liquidity constraints terest rate applicable on the set the interest rate and charged boost African trade. facility would $250, be fixed 000 has over been to clients on the advance “These include ob- the Pan-African

ZAMBIA MAKES STRIDES the life invested of each in advance setting up at a tained from the facility, Payment they and Settlement System

…Paratus Zambia thinks big

laboratory that will establish gold and Afreximbank Trade Finance has continued to make the strides prevailing Central Bank’s were obliged to pass and Trade on the Facilitation programme This is contained in towards a report, fiscal fitness, as the 2021 content national in ore which will be bought which surveyed 185 Monetary Policy Rate (MPR) benefits of the low to increase interest the provision of budget banks is in expected to set a direction from for artisanal and small scale gold

TOWARDS FISCAL STABILITY Africa, representing initiatives more than aimed lower Freres the usage of at informal the time providers of granting in the the banking ad- rates on the facility correspondent to their cli- banking services at growing Gestion the economy. miners Zambia. designed 58 percent to of give total assets business The country held commenced by financial continues services make as strides they has a to dol- industry. to African banks,” Mr Kamel said. vance. ZCCM-IH has set up the laboratory ents in and to demonstrate customers that can now enjoy access towards fiscal were fitness not with safe. an ongoing The report pointed out that customers African banks. Bank access of Zambia lar to more bond She explained that using This external means debt that restructure stock should take with at for Lazard partnership The Freres, document with Karma indicates Mining Services they had done so at the to unlimited time data without worrying By affordable BUUMBA The (BoZ) African CHIMBULU will and Export-Import increase unlimited “Under the Financial formal financial “Anti-competitive services bidding seen African resources trade which amounts could to be directed Zambia Bank after appoint- Banking circle Strategy, that we and are interest Rural had Development will immense be paid benefits Limited an- such in of disbursement. any a French during Investment Inclusion the life firm. in abuses such as inadequate US$1,077 to about other projects using billion but up and their that programme banks quota or in time connectivity (Afreximbank), usage of in formal Zambia collaboration have ing Morrow This is according Sodali to Mr collate Mutisunge Consolidated Zulu, obligations Gold Company. to contractors, suppliers and ZAMBIA’S financial been with the launched United services procurement of the Nations by to a Paratus Non-Executive 70 Economic system Chief Macro Business facility the trying MPR to be see ad- how we nually can with as a safe 12-month storage timelines, grace of funds no compulsory “FSPs publishing that shall intermediate obtain requiring about ad- their Government US$417 data expiring,” billion funding. of he

information on the debt hold- Chief Executive retirees. Officer, of tender Mabvuto and restrictive tendering and reduced the risks of this, Ms said. approximately Muyunda therefore 40 percent, needs percent Zambia. Commission reforms by next justed for as Africa year it Strategist upwards, is hindered (ECA), at migrate the FSPs Kwacha will people Arbitrageur. not who period. are Mr Zulu said some of the effects vance of (s) under this Paratus facility Zambia is part by ers and Kwacha facilitate Bank lead Arbitrageur only communica- relying is an on economics the informal Chipata, explained carrying cash that practices. or the impulse purpose of through the The poor African infinity procedures implementation Development business which packages an and whilst recommended the global urgent average need is 80 to of put the be the “Interest joint venture rates arrears was dismantling to on the programme are therefore had expected Paratus to re- Group, a pan-African tions. allowed to pass on that to “An develop efficient a system gold also needs to of are research Finance and in lack to an give unit of finance of the Business to bring Telegraph. them into buying. (AfDB) corruption, various specially and strategies Making fraud designed Work exacerbated dollar demand causing a percent. in place measures such as rolling for Africa Partnership a when customer Government procuring (MFW4A) thereby in the May financial absorbing this year sector Facility and processing shall currency Ms and be Kawesha priced trading rout to in be off operation indicated the competitive the absence that structure in of as adequate competition their transparency Lazard named Morrow Sodali to help portfolios out Standard network of the electronic to Chartered operator. Government Senior effort business to secure customers funds. register access to prepared using the the public report burden. and realised Zambian ensure dollar that bond they holders are MPR Zambia. not as only part with they a 12-month also enabled will lead mora- people to the production ensure to the of better benefits, procurement includ- Paratus Zambia system countrywide provides to goods more The Central affordable hired Bank and is funds. unlimited

Lazard Freres Gestion of reserves. This, he explained, was coupled Vice Chairman for Africa, Bola of commencement the liability restructuring with expansionary quality investment it This this therefore month. for the monetary products was policy and services through for Adesola, reduce communications loopholes stressed the such and need as hosting fraud. working France The calls strategies Central for US$5 Bank using million their in April to savings re- torium groups president, Mr Chipata on transact both said principal online the for and trade and ing connectivity on more in Zambia, process. a market deep benchmark provisions to a of repayment

introduction It provides of a procedures better the average interest Zambian rate cuts citizen at low to increase “This services will businesses promote to the Zambian open on the Mr Zulu which explained or village Benedict that banking Zambia Oramah had but in made they line with other one of transactions. ZCCM-IH’s strategic which where will a quality assist structure to affordable migrate its US$11 billion for- historical low prices,” of eight she percent. continent, procurement corporate to help sector and drive allow and trade for has both will understanding reduce fraud, of corruption the strides trade in and fiscal are fitness also using it seeks more an economic objectives diverse of which said. was

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users “The Meanwhile, value goal creation of Mr the Zulu Central said with an economic internet of formal connection eign financial debt is difficult over a to three year pe- tegic advice and shareholder Ms Muyunda therefore advisory firm (agent) extra- stakeholders invested acting and intra-African in on to building monitor trade its and own and finance transparency. landscape across recovery Africa programme financial services. promote with the International to diversify Bank rebound its investments is to expected reduce in away informal 2021, from the fiscal budget services obtain. and how to it 70 has percent evolved BUUMBA during CHIMBULU the how the tightening global financial This is according riod, to a Monetary 0.05 a joint percent Fund (IMF) of the entire services to corporate called clients on behalf of its principle, banks’ participate network. the intermediation. Zam- in the procurement would spell exactly Afreximbank how Government all Executive initiatives to aimed Vice follow “This conditions is because triggered of copper the massive to financial other minerals inclusion. President, such We Business as gold Development statement by Covid-19 This 2022 is from signed according pandemic. foreign the by current the to He debt Paratus Alliance said portfolio. this for in the latest Kwacha around the at growing world, the transparent to economy organise open would procurement bian be funded. government. processes,” “The The African network she Continental said. extends Free to all Community 38 Zambia According percent Country Action due to the to Zambia’s (ACA), Manager, risks report, OXFAM the dollar Marius bond capital stock outflows information from Africa, Finance on the Minister, and aimed debt Corporate at Bwalya hold- ensuring Ng’andu, Banking, fair This, conditions present Amr said of the Trade As major Telegraph, CSOs, industrial she said, and they commercial Arbitrageur Report risks associated on Ms Zambia Muyundwa Economic with and other already precious have metals. strategies in Agreement (AfCFTA), she Zambia, associated van supply Vuuren, Transparency of trade with AN rests who the finance launched IVESTMENT informal International was the Outlook: “Extraordinary the informal exceeding of Mr uncertain over Vuuren financial US$5 times He billion with said in the place this the first 2021 during to drive national Kamel, the people laboratory budget highlighted into on Friday the next role of at US$3 billion in three ers and facilitate communica- competition for suppliers. came a few months added, recommended centres after can provide throughout the that a each platform the point country to in silver-linings services,” as Atlas disease quarter She Mara she was of said 2020. speaking during North-Western media on tour behalf formal week. in Lusaka of finance. and Development yesterday. She Central observed Finance that socio-economic Government Institutions pandemic risks Zambia setup. packages affected (TIZ) between on K320,000 and Tuesday Consumer January this and Unity by week. help procurement drive environ- greater must businesses,” be opened for streams deepen.” of maturities a presentation the Paratus namely Civil Society at infinity the just Organisations. “This packages capital is outflows also “We Mr in Zulu recognise line said during with their President Government’s that downturns. business,” these Edgar Lungu he said in his in a tions. French investment and banking many additional international and This April Mr Trust Vuuren is 2020, according Society the Zambia said period (CUTS). the to in infinity covered the refurbishment by “These massive provinces Ms analysis Adesola caused and said. by reform to enhance 2022, 2024 “In the and interim 2027, appetite because Ms respec- for Muyunda Zambia’s training we fully outlined on local understand a number [informal financial statement. services] This according address Solomon to procuring parliament to the Ngondo Busi- goods re-opening, and ment firm signalled services had that been had settled been ‘points-of-presence’ for to re- (PoPs) the packages the CUTS BoZ survey. Programme Financial gave customers Sector paper Officer, had picked ended strained media African classification banks, many of gold at as Mr exorbitant a Kamel strategic pointed prices out implied that that ore that would fairness The report be a d received made efficiency numerous from of public various of tively. its Chingola up in June has and in July the said ness it when current is the for Telegraph businesses bank a wide Magazine. array was of proud Mr initiatives Vuuren to and said interventions Covid-19. structure launch the of copper across producers the African continent and financial Branch of which how loopholes inclusion important recorded organised Kangwa Development access Tis was Muyunda, to as uncapped a Manager, result said the of and announcement the un- around the IMF being resource sharp drops for are in Zambia,” now community Afreximbank’s he said. based Pandemic Trade recommendations who contracting. would get At the a such fair same share as function, a and

to the economy despite to help adhering recoup to lost the growth correct miners, bolstered inherent Lazard, mandated tightening the which bank’s to by commence the is procurement their a Financial quest to French have net to foreign access Sector system have assets. to According quality such completed as which anti- to are the managed Impact refurbish- Telegraph, the infinity Mitigation by packages Facility liabilities, He was said one 30-35 the bank greater percent beyond. had engagement of con- Eu- between procurement Kabinda throttled pandemic Kawesha. data and system without was dips an in talks with the Consolidated dented Gold by COVID-19. procurement Company Chief procedures in value for ACA their Senior material. Programme Officer, important service Ms financing Kawesha quality tool conditions, expand for investment explained or achieving speeds Ministry heightening services due banking Deepening across firm Zambia. the has ment Executive of the people Officer, Chingola who Faisal accordance know branch Keer, each in explained with the tinued law, were to maintain “As Karma Zengani the Mining biggest Simuchembe Services said: and “a Rural of Finance,” competitive unlimited Mr “This Zulu further said. connectivity. bidding, exacerbated Lazard procurement had commenced (PATIMFA) of the a cred- many had ‘think provided robond big’ timely initiatives holders central domiciled The banks company and in industry, is investing push in “The Republican President has set the therefore He said engaged local Ms debt Morrow Kawesha of liquidity restructure goods “We do So- constraints and stressed not had services cap itor taken and or grouping at shape exorbitant other, tone our from especially process the support Paratus top to which to the gear banks, had stakeholders embarked helping Europe seek to and on clear this United for increased States. infrastructure digitalisation and in delivering and social that to balance fair the economic usage target of payment country. policies of development the pressures that other in 2020 that planned. being procured in at branch highly inflated Development, ATM network our expertise in is in gold poor procurement system affects legal the as framework. laboratory because would be able to

shape through a confluence prices undermined connectivity and of limited actions the solutions capacity of clarity on funding payments year through to give falling the their due estimates customers and avert of Zambia National service and liquidity and Financial providers should constraints, Inclusion therefore have in place. lead that the financial sector process about village 30 banking samples group per day. dali, Regional a leading provider of stra- up for negotiations prices. this with Consequently, was the Copperbelt she processing, Province. future but planning we are thereby mostly affecting working the “The copper take producer’s unlimited up of technologies reliable and and affordable ranging head from balance of branch banks we This sheet know was and to expansion finance that during our African Mr a customers joint Ngondo media trade,” revenues said and payment more. expenditures defaults. to be presented better Afreximbank remained the formal service setup,” the inflation of prices the connectivity quality data, which of services which, will help citizens in turn, better will to Strategy sustainable “We have 2019-2022 created improvement president, was to in Mr Keer said the she laboratory explained, said. was critical programmes these to issuance of longer dated by Finance the Minister Dr. Bwalya Ng’andu Mr on with artisanal distribution He negative “With shared the some Infinity of the packages, Ngondo our said understand help this and unlock was small and a price Africa’s scale risk. gold potential. highlighted for the Copperbelt, briefing Professor need to in be Lusaka Oramah always done yesterday. said. online despite to do consumer Benedict welfare. Oramah, COVID-19 bonds aimed at dismantling of by suppliers deprived Zambia of accessed.” to determine the the 25 September gold accurately 2020,” he in said. the miners.

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