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- Zambia to target 8 pct growth over next 5 years
LUSAKA (Reuters) - Zambia's government will target annual economic growth of 8 percent over the next five years and wants to stabilise inflation around 5 percent in the medium term, Finance Minister Alexander Chikwanda said on Monday. Chikwanda said the combination of high growth and low inflation was needed to cut poverty that he said stood at 60 percent in urban areas and 80 percent in the countryside. "We aim to achieve a growth rate of at least 8 percent per annum over the next 5 years. ...
- Africa Finance Corp eyeing $3 bln deals in a year
 NAIROBI (Reuters) - Africa Finance Corporation (AFC), a Lagos-based development financier, is considering potential investments worth $3 billion across sub-Saharan Africa over the next year, its chief executive said on Monday. Created in 2007 to help increase much-needed investments in the key infrastructure, transport and heavy industries sectors in Africa, AFC - 46 percent-owned by seven west African states including Nigeria and Ghana - has already invested $500 million in projects worth a total $4 billion from Cape Verde to Zambia. "In our sectors we see a lot of opportunities. ...
- EYP-designed embassy in Zambia certified LEED
EYP Architecture & Engineering in Albany, New York, designed the new U.S. Embassy in Zambia, the first in the African nation to receive LEED certification from the U.S. Green Building Council.
The embassy in Lusaka, Zambia, received a LEED Silver certification. LEED stands for Leadership in Energy and Environmental Design.
Silver is the second-highest rung on the four-step LEED certification ladder.
EYP is the largest architecture firm in the Albany area, with $73.3 million in billings last year.
The...
- Zambia plans debut Eurobond within eight weeks: official
LONDON (Reuters) - Zambia plans to issue a debut Eurobond totalling $500 million within the next eight weeks, a finance ministry official said on Friday. "We are hoping within eight weeks we will be able to do that," Felix Nkulukusa, director in the economic management department of Zambia's finance ministry, said on the sidelines of a Thomson Reuters event on Zambia in London. ...
- Zambia's kwacha seen firm despite slowing China growth
 JOHANNESBURG (Reuters) - Zambia's kwacha currency will strengthen modestly over the coming year as copper prices stay strong despite disappointing Chinese economic growth, a Reuters poll showed on Monday. Africa's top copper producer, like other commodity exporters, could be hurt by weak metal prices as demand slows from China, the world's second-biggest economy. But analysts say the kwacha may still gain ground. "Copper prices could prove to be supportive of Zambia's exchange rate up to year-end," said Thea Fourie, economist at IHS Global Insight. ...
- AFRICA MONEY: Africa may have to get used to less aid
JOHANNESBURG (Reuters) - In her controversial 2009 book, "Dead Aid," Zambian economist Dambisa Moyo imagined donors calling African countries and telling them they could only rely on their generosity for another 5 years and then their aid would be cut - permanently. This is not going to happen, but belt-tightening means ambitious targets for African aid are being scaled back, and governments in the region are going to have to get used to it. ...
- Foreign holdings of Zambia debt fall to lowest since 2005
LONDON (Reuters) - Foreign holdings of Zambian debt have fallen to their lowest since 2005, reflecting uncertainty over the direction of policy following elections last year and the spillover from the global financial crisis, a central bank official said on Tuesday. The Bank of Zambia also wants to consolidate the 170-plus bonds in circulation to spur trading in the secondary market, the bank's assistant director of market operations, Jonathan Chipili, told Reuters in a phone interview. ...
- Zambian police arrest former telecoms minister
LUSAKA (Reuters) - Zambian police have arrested a former telecommunications minister on corruption charges, the latest in a string of investigations into senior members of the MMD party which lost an election last year. Police spokeswoman Charity Munganga-Chanda said Dora Siliya, telecoms minister under former President Rupiah Banda, would appear in court on Tuesday in connection with the cancellation of a 9 million euro radar contract at airports in Lusaka and Livingstone, the closest town to Victoria Falls. ...
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