Zambia to rebase Kwacha, do away with notes higher than K50
Zambia will rebase the kwacha currency by lopping off three zeros Finance Minister Alexander Chikwanda has announced. Though Chikwanda chose to speak in technical jargon probably to hide what the government is really planning to do, rebasing the currency involves replacing the existing bank notes with new ones. It would mean that 50,000 Zambian Kwacha [...]
Zambia will take back a 75 percent stake in local fixed-line operator Zamtel that is currently held by Lybia’s LAP Green Networks, Finance Minister Alexander Chikwanda said on Monday. “We made a decision to restore Zamtel back to the people of Zambia,” Chikwanda said at a media briefing. “The plight of the workers may be [...]
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By Aislinn Laing, Lusaka (Daily Telegraph UK) Michael Sata, the former Victoria station porter recently elected as President of Zambia, has told how the “humiliation” of his work as a menial labourer in Britain is what drives him to raise his own country out of poverty. Mr Sata, 74, known as King Cobra for his sharp tongue, [...]
Continue reading …The company took a big slide in 2011, dropping behind its peers in the lightning-paced smartphone market, suffering through the worst service blackout in its history and losing tens of billions in market value.
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