Zambia Undertakes Stakeholder Consultations To Review The Constituency Development Fund Act For Effective Community Development – Lusaka Times
The Zambian government had recently undertaken a review of the Constituency Development Fund (“CDF”) ACT number 11 of 2018, through stakeholder consultations in all ten provinces. The Local Government Permanent Secretary for Administration, Maambo Haamaundu, announced the conclusion of the stakeholder consultations on February 27th, 2023. He emphasized that the consultations were important because they provided a platform for a broad and evidence-based outlook on issues that influence the implementation of the CDF. The review aimed to identify areas of improvement and address challenges that have hindered the effective implementation of development projects at the grassroots level.
Cadaster Dept To Start Issuing Mining Licenses – ZNBC
The Mining Cadaster Department will start issuing new mining licenses by the end of March 2023. Cadaster Department Director, Samuel Maango says over 1,800 people have applied for licenses.
Mr. Maango says the validation process of the applications will start next week. He says the applications were made from November 2022 following the opening of the Department. The Department was closed early last year following reports of corruption in the issuance of mining licenses. Meanwhile, Mr. Maango told ZNBC News in an interview that there will be an evaluation meeting on Wednesday to check the responses from the over 500 defaulting license holders that were issued with default notices. He said after the meeting recommendations will be made to the Mining license committee on whether mining licenses should be cancelled and not.
Reduced Government Domestic Borrowing Will Help Private Sector – News Diggers
Bankers Association of Zambia Chief Executive Officer Leonard Mwanza says government’s move to reduce borrowing from the domestic market will enable it to earn more taxes from the private sector. And Mwanza says Zambia’s real economy will benefit from having more liquidity in the domestic market. Last week Thursday, President Hakainde Hichilema reiterated government’s plans to reduce borrowing from the domestic market even further after already cutting down borrowing in 2023 to ZMW16 billion from ZMW24 billion in 2022. In an interview, Friday, Mwanza said the stance taken by the government will have a positive spillover effect on the private sector.
Blending Will Reduce Fuel Prices By 3% – News Diggers
Energy Minister Peter Kapala says the planned blending of fuel with ethanol will result in a 3% reduction in the cost of petroleum pump prices. In an interview, Thursday, Kapala said a pilot project for the blending process will commence in the second quarter of this year.
Bond Trading Summary
Bond trades of face value ZMW116,103,000 were traded in 6 trades resulting in a market value of ZMW66,056,650.
Lusaka Securities Trading Summary
In 107 trades recorded today, 35,528 shares were transacted resulting in a turnover of ZMW123,365.47. A share price loss of ZMW0.01 was recorded in CCAF. Trading activity was also recorded in AECI, ATEL, CECZ, CHIL, PUMA, ZMBF and ZNCO. The LuSE All Share Index (LASI) maintained its close at 7,249.62 points. The market closed on a capitalization of ZMW72,487,995,255.28 including Shoprite Holdings and ZMW37,705,309,815.28 excluding Shoprite Holdings.
