CEC 2020 REVENUE DOWN BY 19%
Has commenced a dol- lar bond stock take for Zambia after appoint- Morrow Sodali collate information on the debt hold- and facilitate communica- tions.
THEThe country continues to make strides
ZCCM-IH has set up the laboratory in
towards fiscal fitness with an ongoing
partnership with Karma Mining Services
external debt restructure with Lazard Freres, a French Investment Banking firm. and Rural Development Limited in
This is according to Mr Mutisunge Consolidated Zulu, obligations Gold Company. to contractors, suppliers and a Non-Executive Chief Macro Business
Chief Executive retirees. Officer, Mabvuto
Strategist at the Kwacha Arbitrageur. Mr Zulu said some of the effects of
Chipata, explained that the purpose of
Kwacha Arbitrageur is an economics and an arrears dismantling programme had its quest for cost containment,
research unit of the Business Telegraph. the joint venture was to develop a gold which positively impacted its exacerbated dollar demand causing a
Government Lazard named in May Morrow this Sodali year to help processing currency and trading rout in operation the absence in of adequate cash costs to hold at US$13.7 register Zambian dollar Copperbelt bond holders as part million compared to US$13.8 Lazard Freres Gestion of Zambia. reserves. This, he explained, was coupled of commencement E n e the liability r g restructuring y with expansionary monetary policy through million the previous compaFrance process. for US$5 million to re- Mr Chipata said the investment was Coorperation deep benchmark interest rate cuts to a rable period. “Profitability for structure Mr Zulu its US$11 explained historical low of eight percent. (CEC) says billion that its Zambia revefor- had in made line with one of ZCCM-IH’s strategic the period benefitted from the debt strides over in fiscal a three fitness year it seeks pe- an economic objectives of Meanwhile, value creation Mr Zulu which said with was an nue reduced to US$163.472 tegic advice and shareholder advisory economic firm (agent) reduction acting in on receivable im
recovery programme with the rebound its investments expected in away 2021, from the fiscal budget a Monetary 0.05 million percent Fund from (IMF) of USD201.857 the entire to diversify services to corporate clients behalf of its principle, pairment the Zam- losses, coming in at
would spell exactly how all initiatives aimed
copper to other minerals such as gold foreign million He debt said portfolio. this in 2020, in the latest signaling Kwacha a around the at growing world, the to economy organise would bian be funded. government. US$25.483 million against a Zambia’s Arbitrageur 19 percent dollar Report reduction. bond on Zambia stock Economic and other precious metals. information Finance on the Minister, debt Bwalya hold- Ng’andu, This, present said the loss Telegraph, of USD32.458 million in Outlook: CEC “Extraordinary Company Secretary uncertain times He with said this the at US$3 billion in three ers and facilitate 2021 during national communica- the laboratory budget on Friday came next a few months the after prior comparable the period,” silver-linings Julia Chaila as disease said this pandemic was risks media tour week. in Lusaka yesterday. she said. Ms Chaila also said streams deepen.” of maturities namely tions. French Lungu in investment banking mainly because of the transfer domestic “This is wheeling, also Mr in Zulu line up said with 13% President Government’s Ms Edgar Chaila also said his that exthat the Cash generation im2024 “In and interim 2027, appetite respec- for Zambia’s local This to parliament Busi- re-opening, firm signalled had been settled for to re- of the Konkola Copper Mines to USD$4.806 according address million of gold on to as the a strategic pected credit losses reduced proved, relative to the compatively. paper had picked up in June and July classification when ore that would be received from various (KCM) load from the supply to back ness of Telegraph reduced a wide load Magazine. array shedding. of initiatives and interventions structure from US$89.663 the million copper rable producers period last year.
the announcement around the IMF being resource for to Zambia,” the economy he to said. help recoup lost growth miners, who would get a fair share and Lazard, mandated the use which of to system commence is business a French talks segwith the She Consolidated According said regional to power the sales, Telegraph, in the first liabilities, half of 2020 30-35 to percent She of said Eu- Cash genera
dented Gold by COVID-19. Company Chief value for their material. investment Ministry ment, of following banking Finance,” the firm Mr lapse Zulu has said. of up Lazard four percent had “The commenced to USD37.769 Republican Faisal Keer, a President cred- explained has Executive Officer, USD3.189 robond million, set the holders triggered “As Karma domiciled tion Mining from Services in operations and was Rural therefore the He said engaged power local supply debt Morrow restructure agreement So- had million itor taken grouping on account tone from process of customthe top to which by gear stakeholders the segment Europe seek shift and of United the US$32.344 States. million (2020:
that the laboratory would be able to shape in May through 2020. a confluence of actions ers’ Development, our expertise is in gold a leading provider of stra- up increased for negotiations clarity power on funding uptake with through KCM the the demand, estimates “The as afore of copper stated, producer’s US$19.234 million) with a ranging Ms from Chaila balance however sheet notexpansion process about revenues 30 samples and expenditures per day. to and use of system, which rose positively be impacting presented processing, but we are mostly working on the cash balance of US$105.886
programmes to issuance of longer dated Mr Keer said by Finance the laboratory Minister Dr. was Bwalya critical Ng’andu ed that there was an in508 percent to USD$21.178 KCM credit exposure. on with artisanal million and small (2020: scale US$89.098 gold
COVID-19 bonds aimed at dismantling of crease in revenue from to million. determine the the 25 September gold accurately 2020,” “The he in said. company the Mr Zulu progressed miners. million).