By Staff Writer The Drug Enforcement Commission has arrested a former Zanaco female employee of Lundazi for money laundering activities involving over K500, 000. DEC through its Anti-Money Laundering Investigations Unit in Eastern Province Phanny Chaponda. Public Relations Officer Theresa Katongo said the Chaponda 34, of house No. RR 15, Kanjala Compound in Lundazi has […]
Bwalya Ng’andu was sworn in as Zambia’s new finance minister, a day after Margaret Mwanakatwe was fired from the post. Ng’andu, 64, a former deputy governor of Zambia’s central bank, is the third person to hold the post in three years. He was sworn in at a ceremony at the presidency in the capital, Lusaka. […]
Access Bank Zambia Limited, has unveiled its new brand identity in Zambia. This follows the successful merger between Access Bank and Diamond Bank in Nigeria in April this year. The concluded merger creates a pan-African financial services champion with a new brand and visual identity that fuses together the best of Access Bank and Diamond […]
By JOHN SAKALA Barely a month after a Lusaka based banker made off with a bounty US$400,000, another banker, also female of Monze has snatched K59, 000 from Zambia National Commercial Bank (ZANACO). Last month, another female banker at Barclays Bank in Lusaka got away with US $400, 000 cash and is on the runaway. […]
The Chairman of Vedanta, Anil Agarwal, in his statement for the financial year ended 31 March 2005 reported that the cost of the Konkola acquisition was a gross of $49.2 million. This comprised a subscription for sufficient new KCM ordinary shares for an amount of $25 million for a 51% interest, $23.2 million as deferred […]
The Zambian Kwacha has continued to slump against the major currencies and trading at K14 against the US dollar.
The African Development Bank Group has approved an $11.1m loan to support Zambia’s efforts to restore fiscal stability. The funding was approved by the Abidjan-based African Development Fund in a bid to help Zambia improve its management of public resources. The four-year project, spanning 2019–2022, will aim to strengthen the capacity of staff in institutions […]
Atlas Mara Ltd. is shaking things up by exiting some of its operations on the continent in exchange for a share of Kenya’s biggest bank by market value. The sub-Saharan African bank, founded by ex-Barclays Plc chief Bob Diamond, will swap its operations in Rwanda, Zambia, Mozambique and Tanzania for a 6.27 percent stake in Nairobi-based Equity […]
A Zambian youth has scoped the World Bank sponsored blog for development award (#Blog4DevAward). Musopa Kalenga, a Zambian national, entered an essay writing competition organised by the World Bank Africa Region called #Blog4Dev. For the first time ever, the World Bank Africa Region hosted the regional blog competition, in 2019, in order to offer young […]
The Independent Observer
Alice Nachilembe
