Home
FacebookTwitterSearchMenu
  • Subscribe
  • Subscribe
  • News
  • Features
  • Knowledge Library
  • Columns
  • Customs
  • Jobs
  • Directory
  • FX Rates
  • Contact us
    • Contact us
    • About Us
    • Advertise
    • Send us news
    • Editorial Guidelines

Zambian business optimistic about prospects – BoZ

18 Aug 2022 - by -
0 Comments

Share

  • Facebook
  • Twitter
  • Google+
  • LinkedIn
  • E-mail
  • Print

Zambian business leaders are looking beyond the impact of the Russian invasion of Ukraine and Covid-19 to economic growth, according to the Bank of Zambia’s (BoZ) quarterly survey of business opinions and expectations.Support given to Zambia by the International Monetary Fund (IMF) in June will further bolster optimism.“Zambia's implementation to date of its home-grown economic programme is impressive.“This is a robust programme that can achieve the authorities’ goals of restoring macroeconomic stability and laying the foundations for more resilient and inclusive growth,” said Antoinette M Sayeh, deputy managing director of the IMF at the conclusion of her visit to Zambia recently.This was followed by an announcement that Zambia's creditors had pledged to negotiate a restructuring of the country's debts.IMF managing director Kristalina Georgieva welcomed the news as “clearing the way” for a $1.4-billion fund programme.Zambia defaulted on its debts of around $17bn in 2020, in part due to the global slowdown caused by the reaction to the Covid-19 pandemic.Between 2019 and 2021, the Kwacha lost roughly 50% of its value against the US dollar, due to political uncertainty.This has changed since general elections on August 12 last year, with Hakainde Hichilema of the United Party for National Development defeating incumbent Edgar Lungu of the Patriotic Front in the presidential contest.Soon after, Bloomberg reported that “Zambia's new president, Hakainde Hichilema, is turning the nation's economic fortunes around barely a week into the job”.This is ref lected in the BoZ survey, which found that “the outlook for investment remains positive over the next 12 months as firms expect the macroeconomic environment to improve further on the back of favourable policies of the new government”.The government has prioritised tourism, mining and energy as sectors to grow the economy.

Sign up to our mailing list and get daily news headlines and weekly features directly to your inbox free.
Subscribe to receive print copies of Freight News Features to your door.

Zambia August 2022

View PDF
Zambia powers up neighbours
18 Aug 2022
Addicted to copper
18 Aug 2022
Cash windfall to strengthen connectivity
18 Aug 2022
Port upgrades improve Zambian connectivity
18 Aug 2022
Port upgrades improve Zambian connectivity
18 Aug 2022
August 2022 Zambia/DRC 7Rail plans open up opportunities in multiple industries
18 Aug 2022
New business-friendly environment attracts interest
18 Aug 2022
Meeting demand for well-maintained truck parks
18 Aug 2022
Investment in warehousing supports growth
18 Aug 2022
Zambia secures liquid bulk lifelines
18 Aug 2022
Reforms to mining regulations attract backing
18 Aug 2022
Failing economy shows signs of recovery
18 Aug 2022
  •  

FeatureClick to view

Sea Freight May 2025

Border Beat

Fuel-crime curbing causes tanker build-up at Moz border
08 May 2025
Border police turn the tide on illegal crossings
29 Apr 2025
BMA officials arrested for enabling illegal immigration
24 Apr 2025
More

Featured Jobs

New

Transport Clerk (DBN)

Tiger Recruitment
Durban (New Germany)
09 May
New

Operations’ Coordinator

Brinks Security PTY LTD
Johannesburg
09 May
More Jobs
  • © Now Media
  • Privacy Policy
  • Freight News RSS
  • About Us
  • Advertise
  • Send us news
  • Contact us