Feature Economy

By Chanda K. Chishimba Zambians should view the Lusaka Stock Exchange (LUSE) as an investment vehicle that can lead to a better and more financially...

This is a subject that continues to make headlines in Zambia especially with our politicians. I am not going to focus on what the politicians are saying or not saying. But let me talk about my experiences interacting with Zambians of various backgrounds, here in Zambia, what they are saying about the Tongas. For some reasons when we talk about tribalism, in Zambia, the Tonga word is almost always in the same sentence. Should it really be like that?

According to estimates, Zambia is able to collect as much as US$400 million annually if it was to re-introduce the windfall mineral royalty tax. With this kind of money, why should we continue to borrow or ask donors for money to enable us finance our various projects including the building and maintenance of roads, schools, hospitals as well as the improvement of our water and sanitation situation? Indeed why should we struggle to provide basic social services to our people when we have that kind of money which we have voluntarily refused to collect? Is this not a way of embracing poverty? Certainly, our leaders can do better on the issue of windfall taxes

Bank of Zambia Assistant Director, Isaac Muhanga has advised commercial banks to desist from abusing their clients’ trust as business ethics are important...

Standard Chartered Bank Zambia has said its on course to record its highest net profit growth in the 104 years of its existence in Zambia before the end of the year. Speaking at a media briefing this morning, Standard Chartered Bank managing director Mizinga Melu said the bank’s net profit this year had risen to 116 percent. “Our net profit has grown 116% translating to K93.2 billion, our balance sheet has grown 18 % which is K3,398 billion while our deposits have grown 10 % culminating into K2,664 billion.

There is dissatisfaction among some segments of Zambian society that this taxation regime does not provide for adequate contribution of tax revenue by mining companies to the country’s coffers, and that the government should not have shelved the idea of a “windfall tax,” which would have provided for a charge on the sales of copper for every US$0.50 increase in the price of copper per pound on international copper exchanges.

Zambia ranks among the top 10 countries worldwide that have improved the ease of doing business for local firms in the past year according...

This most recent occurrence is not an isolated issue. There is a pattern of behavior where time and time again, various companies have willingly abused our environment, (and thus by default our citizens) with laughable consequences. Indeed we are looking at a much bigger problem than this one incident that will only be addressed by strengthening and expanding the role of the Environmental Council of Zambia. Our country needs to progress, and environmental protection is a critical part of our nation’s overall progress.