Atlas Mara in talks to buy Finance Bank Zambia Atlas Mara Ltd., the company co-founded by Bob Diamond to invest in African financial businesses, is in talks to buy Finance Bank Zambia Plc, according to three people with knowledge of the matter. Negotiations began as early as March, two of the people said, asking not to be identified because they’re not authorized to comment on the talks. (Read more) Atlas Mara already Banc ABC Zambia through acquisition of parent company ABC Holdings. It had about K2.3 billion in assets as at Q1 2015 - K911 million loan book and K953 million in deposits. Should the acquisition go through, Atlas is likely to merge the two (FBZ and Banc ABC) which should immediately shoot the new entity into the top 4 of Zambia's 19 commercial banks by assets. FinScope 2015 Top Line findings on Zambia’s financial inclusion The launch of the FinScope 2015 Top Line Findings on financial inclusion in Zambia took place yesterday, thanks to the Financial Sector Deepening Zambia program (FSDZ), and was focused on a report on the findings for 2015 compared to the 1st financial inclusion findings that were reported in 2009. The findings of 2009 revealed that only 37.3% of the Zambian adult population were financially included. There were also more banked men than women then. The reasons behind this were mainly the high cost of banking with institutions, and a lack of information on how some products work. As of 2015, the report now shows that 59.3% of the adult population is financially included, with more women having been included financially in the last 5 years. The age group that was targeted was between the ages of 26 to 35 years old for both years. (Read more) Treasury bill auction 13 2015 results June inflation ticks up to 7.2% as trade deficit widens by 67% Inflation ticked up to 7.2% in June, up 3 bps from the previous month. This was driven by an increase in fuel pump prices in the May. The trade balance recorded a deficit of K1.2 billion in May 2015, up 67% from the previous month. Mpulungu Harbour development finances secured The plan to turn Mpulungu Harbour into a major economic hub is slowly becoming a reality following the signing of a financing agreement with the African Development Bank (AfDB). Mpulungu Harbour Corporation Limited manager Davis Kaluba told ZANIS in Mpulungu yesterday that much is expected to happen at the harbour following the signing of the financing agreement between Government and AfDB. (Read more) ZESCO asks mining companies to reduce electricity consumption amidst 560 MW deficit Zesco Ltd., Zambia’s state-owned electricity utility, has asked mining companies in Africa’s second-biggest copper producer to cut power usage amid a shortage caused by low dam levels, spokesman Bestty Phiri said. Phiri couldn’t immediately comment on how much Zesco has asked companies to curb usage by, he said in a response to a text message. Zesco, which has a generating capacity of about 2,200 megawatts, has a 560-megawatt shortfall, it said in a statement published in the Zambia Daily Mail. (Read more) Lusaka set to receive $50 million for urban sanitation The Board of Directors of the African Development Bank (AfDB) Group on June 24, 2015 approved a loan of US $50 million to finance the Lusaka Sanitation Program targeted at Lusaka, the capital city of Zambia. The Executive Directors, in approving the loan, expressed their satisfaction with the innovative approach in addressing the challenges of sanitation particularly among the poor in informal settlements. They urged the African Development Bank’s Water and Sanitation Department to capture the lessons and share them with other regional member countries. (Read more) 2015 fiscal deficit could be mitigated by H2 mining revenues - Moody's Zambia may keep its budget deficit below 6 percent this year because of increased revenue resulting from changes to the country’s mine-tax system, according to Moody’s Investors Service. The International Monetary Fund last week forecast the fiscal gap in Africa’s second-biggest copper producer will climb to 7.7 percent of gross domestic product this year. (Read more) Government awards fuel supply contract to Dalbit Petroleum via single sourcing THE government has awarded an oil supply tender to Dalbit Petroleum Limited through single-sourcing, a company that has dealings connected to Rupiah Banda and his son Henry. In a letter to energy permanent secretary Brig Gen Emeldah Chola, Attorney General Likando Kalaluka ordered that the government should give the contract to Dalbit without subjecting the tender to competition. Kalaluka explained that Dalbit has had a cordial relationship with the government and should be allowed to supply 216,920,000 litres of diesel and 21,320,000 litres of petrol. (Read more) Agriprofocus Zambia holds maiden agri-finance fair in Chipata On 18th, 19th and 20th June, 2015 AgriProFocus Zambia had its second AgriBusiness Finance Fair in Chipata. We received approximately 500 visitors at the Fair and 18 exhibitors that included; Frontier Development Associates, SNV Netherlands Development Organisation, Agri-Business Incubation Trust (AgBIT), World Vision, the Dairy Association of Zambia, PROFIT+, COMACO, ZAMSEED, Greenbelt Fertilisers, SARO, PEX Hydraulics, FNB, MFinance, MLife, FINCA, Banc ABC, Investrust Bank and MRI Syngenta. (Read more) IFC inks deal with Zeder Investments AGRI BUSINESS specialist Zeder, which is controlled by investment house PSG, has wooed the World Bank-aligned International Finance Corporation (IFC) as a strategic equity partner for its fledgling Zambian-based operations. At the Zeder AGM on Friday CEO Norman Celliers said Agrivision — which holds farming, milling and staple foods distribution businesses — would raise $30m (R360m) in fresh capital for its new expansion phase. (Read more) Zambia ranks amongst the most expensive African countries to build in KPMG report Please feel free to download KPMG Africa’s Construction and Infrastructure Report 2015. Key data
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Mutale M.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. * * * Archives
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