While you were sleeping our dedicated analysts gathered market data that you need to start your day. These include:
Kwacha on a Bullish Spree as Mineral Royalty Tax Payments Fall Due
The Kwacha has posted significant gains on the back of mineral royalty tax payments. It that time of the month that the mines then convert dollars to raise Kwacha to fund tax obligations in local currency. The week has seen dollar flows which have been converted to Kwacha suffice to say demand for the local unit is causing the appreciation observed. The Kwacha was trading for ZMW9.8/USD. The Kwacha has in Q4:2017 been under pressure from economic growth effects as importation of equipment peaks, festivities demand as retailers stock up goodies for Christmas and the asset sell off post August after the IMF deal hopes started to fade. To read more…
Zambia to Increase its 2017 Copper Production to 850,000 metric tons and 1 million metric tons in 2018
AFRICAs second largest copper producer Zambia is expected to increase its copper output to between 800,000 to 850,000 metric tons in 2017 from 774, 000 metric tons last year, Mines Minister Christopher Yaluma said on Thursday 15 December.
The Honorable Minister pushed 2018’s copper production forecast to 1million tons on the back of improved power generation capacity and bullish prices on the London Metal Exchange – LME. Zambia’s copper productivity in the last two years had been adversely impacted by rolling black outs in the quest to ration power at a time when prices were depressed. The Southern African nation is on a path to regain its top position in Africa which was given up to DRC in 2012. To read more…
The Mouse Just Bought The Fox! Disney bought Fox Assets for $52.4billion in landmark Deal
The Walt Disney Co. has set a $52.4 billion, all-stock deal to acquire 20th Century Fox and other entertainment and sports assets from Rupert Murdoch’s empire. The deal between Disney and 21st Century Fox marks a historic union of Hollywood heavyweights and a bid by Disney to bolster its core TV and film businesses against an onslaught of new competitors in the content arena. To read more….
Airtel Bharti Upgrades to 4G
Airtel Bharti, Zambia’s top mobile revenue leader, could not keep calm today, as they finally launched 4G a move that is deemed to improve service provision and data speed in this age. The upgrade was long overdue but Airtel took its time to do the roll out effectively. Its competitors – MTN, Hai Technology and Vodafone, were ahead of the curve with Zamtel trailing behind with 4.5G recently launched. Airtel took its time to invest in state of the art digital equipment to unleash this offering in Lusaka today. The launch was done at Radisson Blu hotel in Lusaka.
Despite having a subscriber market share base of 37%, Airtel recently overtook MTN in revenue market share accounting for 46% of the telecoms industry. Its about time the market had some pricing sanity in data provision, a Lusaka resident said. To read more…
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