August Inflation Quickens to 7.3% as Trade Deficit Contracts
August inflation ticked up to 7.3% from 7.1% the previous month. The upward move was led by an increase in the prices of non-food items such as fuel and transport fares and fees. The Government raised the pump price of fuel by an average of 13% in July whereas road user fees (road tax, license renewals etc.) were also raised by 50%.
The trade balance came in at a deficit of K958 million in July, down 20% from the previous month. This was the first contraction in the trade deficit this year.
Zambia Starts Sale of $131 Million Stake in State Mining Company
Zambia, Africa’s second-biggest copper producer, began the sale of a 17 percent stake in its mining investment company that’s expected to fetch about one-billion kwacha ($131 million). An offer of about 27 million shares prioritizing Zambian investors opened Friday and closes Oct. 2, said Jimmy Mwambazi, corporate finance manager at Stockbrokers Zambia Ltd., which is managing the sale. (Read more)
Fastjet secures permit to operate domestic routes in Zambia
London-listed Fastjet managed to secure permits to operate domestic routes in both Zambia and Uganda. The airline’s primary base is in Dar es Salaam but it is looking to raise capital from investors to expand operations to Zambia and Uganda by early 2015. CEO Ed Winter said that this was a significant step along the road to becoming a truly pan-African airline.
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *