Zamtel signs $18.3m deal with NEC Corp. to boost mobile coverage and capacity
The deal includes the supply, delivery, installation, testing and commissioning of Japan-based NEC’s microwave transmission network equipment. The investment will improve Zamtel’s network infrastructure by modernising its digital microwave transmission backbone – which will help support Long Term Evolution (LTE) roll out. The project will be completed within 12
State-owned Zamtel remains number 3 in mobile subscribers in Zambia – dead last by a country mile behind MTN and Airtel Zambia who each have almost 4 times the number of subscribers it has. In the first half of this year, MTN (4.26m subscribers) overtook Airtel (4.04m subscribers) as market leader in terms of subscribers for the first time despite having pricier voice and data packages. Why? Because MTN had a more reliable service in terms of up-time. Connectivity has become more critical than ever before and mobile technology has played a significant role.
Zambia Revenue Authority delays implementation of VAT rule 18 amendment
A week after the controversial clause 1(b) of VAT rule 18 was waived, after the Minister of Finance wrote to the President calling it impractical, the Zambia Revenue Authority (ZRA) delayed implementation “pending further consultations”. The amendment was supposed to have taken effect on September 8 2014. Enforcement of the clause (which only started in 2013 despite the law being around for over a decade) has led to an accumulation of over K3.6 billion ($600) million worth of refundable VAT owed primarily to mining sector players. So far, 762.7 million has been refunded to exporters who complied with the law as it is.
Mizinga Melu appointed as CEO of Barclays Africa Regional Management
The appointment is effective October 1 2014. She was previously Managing Director of Standard Chartered Zambia before she moved to the ABSA groups National Bank of Commerce in Tanzania as MD and CEO. All the Barclays Country Directors outside of South Africa will be reporting to Mizinga Melu.
Spar workers protest for 100% wage rise and ousting of CEO
Workers at supermarket chain Spar downed tool on Thursday which led to various outlets being closed for the entire business day. The workers were asking for wages to be increased from K840 ($134) per month to K1,640 as well as the ousting of their CEO for alleged nepotism practices. Their management was said to be in discussions with the National Union of Commercial and Industrial Workers of Zambia about the workers concerns.
- Kwacha closed at K6.15 per USD, K9.98 per GBP, K7.95 per EUR and K0.56 per ZAR
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. * * *