Economy

COVID-19 had a devastating effect on the economies of the world. It was to the point that most of the economies had nearly reached a period of recession, and Zambia was no exception among those economies. The outbreak and the following lockdowns had a significant negative effect on the property sector of Zambia, among the other sectors. Zambia's property and housing sector were hit the hardest since, with...

According to data analytics, the Estate Intel real estate secured up to US $500k for its pre-seeded funding last year in Nigeria. Its promotion from a local estate business to the host and main domain of some other African countries. The Estate Intel was first launched in 2016 as a local business focusing mainly on developing Nigeria’s major buildings. However, due to its great progress in the past...

According to the statement of Finance Minister Bwalya Ng'andu, Zambia is planning to bring down its fiscal deficit and external debt in 2021 after the overshot plans in 2020 due to the global epidemic. The country's second copper producer had to ask lenders to delay interest on three outstanding dollar-denominated bonds during the calamity. Bwalya Ng'andu claimed that Zambia's fiscal deficit would be...

According to the CEO of Stanbic Bank, Leina Gabaraane, to build a stronger economy post the COVID-19 pandemic, ZAMBIA embraces significant shifts created in the virus's local economic landscape. According to Jimmy Khan, the CEO of Lafarge ZAMBIA, There has been quite a notable shift in ZAMBIA's domestic construction industry due to the acute increase in small projects all over the country. Gabaraane...

Real estate sector in Africa has been experimenting an impressive growth. On average, 10,000 accommodations miss each year in most of these countries, and despite some governmental endeavors, the shortfall is still important. According to several studies, African population is going to increase over threefold during the next 40 years. This demographic growth will inevitably go with a strong development...

Reducing the costs of solar electricity production, helping building projects and accelerating their process, were the main objectives of the World Bank for Sub-Saharan Africa’s program, “Scaling Solar”. It was implemented in Zambia after being presented in Washington in 2015. Nine months later, seven electrician projects were selected for the development of two solar power plants. With the help of...

Angola and Zambia are looking to expand integration and cooperation among them in order to promote growth in both their economies. The two embarked on creating transportation infrastructure aimed at linking them. This is aimed at providing mobility for people and moving merchandises across the two countries. Minister of Transport for Angola Augusto Tomas shared these views after visiting construction...

Zambia recently received an upgrade on its credit rating by Moody which is one of the top credit rating agencies. According to Miles Sampa who is the former deputy minister in Finance and Commerce, the new rating is an indication of sound economic leadership by President Edgar Lungu. The former deputy minister said that the move from negative to stable credit rating was a sign of confidence and proper...

In a shareholder’s agreement, Ethiopian Airlines acquired a 45 percent stake in Zambia Airways in January this year. The deal will see Zambia Airways re-launched after more than 20 years. The Ethiopian Airlines confirmed that the deal with Zambia was finalized. This agreement would facilitate the realization of Ethiopian Airline’s commitment in setting up various hubs in the Horn of Africa, Central...

Africa, for the last year, has been resourceful and rewarding to bond investors. Investors poured in large numbers to have a taste of the high yielding continent and recovering economy from investments dating three years back. Africa’s dollar securities and local currency performed quite well compared to emerging markets globally. But this has not been a bed of roses for investors who were faced with...