Zambia’s Inflation Records Marginal Drop To 6.7 In March

The annual inflation rate for March 2017 inflation rate has marginally decreased by 0.1 percentage points to 6.7 percent from the February rate of 6.8 percent. Central Statistical Office Director, John Kalumbi has attributed the reduction to the price changes … Continued

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The annual inflation rate for March 2017 inflation rate has marginally decreased by 0.1 percentage points to 6.7 percent from the February rate of 6.8 percent. Central Statistical Office Director, John Kalumbi has attributed the reduction to the price changes of food items. Kalumbi has explained that the decline in inflation means on average prices increased by 6.7 percent between March 2016 and March 2017. He adds that the year on year food inflation rate for March 2017 was recorded at 6.7 percent compared to 7.4 percent recorded in February 2017 representing a decrease of 0.7 percentage points. Mr. Kalumbi says the decrease in the annual food inflation rate is attributed to price changes for fish items and vegetables such as tomatoes and cabbage. Speaking during a media briefing this morning, Mr. Kalumbi says Lusaka Province recorded the highest provincial contribution of 1.7 percent points on the overall annual inflation rate of 6.7 percent in March, while Western Province recorded the lowest contribution of 0.2 percent. He says this implies that the price movements in Lusaka province had the greatest influence on the overall annual rate of inflation. And Mr. Kalumbi says Zambia recorded a trade deficit in February 2017 valued at K1,140.8 million from K227.3 million recorded in January 2017, representing a 401.9 percent increase. He says this means that the country imported more in February that it exported in nominal terms. The post Zambia’s Inflation Records Marginal Drop To 6.7 In March appeared first on Zambia Reports.

source: Zambia Reports

Let’s Avoid Invisible Competition in Agriculture

[The Herald] One of the unintended consequences of knowledge sharing is an increase in the number of people doing the same agricultural activity. This leads to congested niches where particular value chains rapidly reach their cap or ceiling.While the …

[The Herald] One of the unintended consequences of knowledge sharing is an increase in the number of people doing the same agricultural activity. This leads to congested niches where particular value chains rapidly reach their cap or ceiling.While the market playground may look the same and fair from the outside, Zimbabwean agriculture is beset by numerous pervasive competitive dynamics that have a bearing on sustainability and profitability.

source: AllAfrica News: Zimbabwe

Homeless Person Found Dead in Mugabe Aide’s Van

[New Zimbabwe] A VAGRANT was Tuesday evening found dead in a senior Media Information and Broadcasting Services ministry official, Collins Mungate’s vehicle, his (vagrant) friends said.

[New Zimbabwe] A VAGRANT was Tuesday evening found dead in a senior Media Information and Broadcasting Services ministry official, Collins Mungate's vehicle, his (vagrant) friends said.

source: AllAfrica News: Zimbabwe

ICC Summons South Africa Over Bashir

[East African] The International Criminal Court (ICC) has invited the South African government next Friday to account for failing to arrest Sudan President Omar Al Bashir when he attended an African Union Summit in the country in June 2015.

[East African] The International Criminal Court (ICC) has invited the South African government next Friday to account for failing to arrest Sudan President Omar Al Bashir when he attended an African Union Summit in the country in June 2015.

source: AllAfrica News: South Sudan

Insurance Brokers Want Market Minimum Capital Ratio

[Daily News] THE Tanzania Insurance Brokers Association (TIBA) has requested a support from commissioner of insurance to determine a minimum amount of capital required of an insurer to support its operations and write coverage.

[Daily News] THE Tanzania Insurance Brokers Association (TIBA) has requested a support from commissioner of insurance to determine a minimum amount of capital required of an insurer to support its operations and write coverage.

source: AllAfrica News: Tanzania

Lubinda Says K2 Million For ICC Withdrawal Is Budgetted

Government has clarified that the K2 million allocated towards consultations on whether Zambia should leave or remain a member of the International Criminal Court (ICC) is from the 2017 national budget. Justice Minister Given Lubinda says the money is part … Continued

The post Lubinda Says K2 Million For ICC Withdrawal Is Budgetted appeared first on Zambia Reports.

Government has clarified that the K2 million allocated towards consultations on whether Zambia should leave or remain a member of the International Criminal Court (ICC) is from the 2017 national budget. Justice Minister Given Lubinda says the money is part of the allocation approved by Parliament in the contingency budget, which is money set aside to cover unexpected costs. Lubinda says those questioning the source of the K2 million do not understand the budgeting process. Lubinda says anyone who understands this process would have known that the K2 million could only have come from the contingency budget. Lubinda states that this is in fact the purpose of a contingency budget that monies in the national budget are reserved for expenditure on unforeseen costs to government. He adds that those arguing that the K2 million is an unplanned expenditure should also understand that it was not possible for government to plan for something it did not foresee. Lubinda says the issue on whether Zambia should pull out from the ICC or not only came up in January and therefore could not have been considered in the 2017 national budget that was planned in October. The post Lubinda Says K2 Million For ICC Withdrawal Is Budgetted appeared first on Zambia Reports.

source: Zambia Reports

Firms Partner to Drive MSME Growth

[This Day] Two SME-focused businesses – Gidigba Social Network Services and African Hub International, have formed a joint venture company, Gidigba-African Hub, which is designed to develop and implement programmes that will promote and encourage micro…

[This Day] Two SME-focused businesses - Gidigba Social Network Services and African Hub International, have formed a joint venture company, Gidigba-African Hub, which is designed to develop and implement programmes that will promote and encourage micro, small and medium scale enterprises (MSMEs) in the country.

source: AllAfrica News: Nigeria

NNPC Backs Govt’s Plan to Formalise Illegal Oil Refining in Niger Delta

[This Day] Abuja -The Nigerian National Petroleum Corporation (NNPC) has said it would support plans by the federal government to formalise illegal crude oil refining operations in the Niger Delta, saying it was part of the antidotes to criminality inc…

[This Day] Abuja -The Nigerian National Petroleum Corporation (NNPC) has said it would support plans by the federal government to formalise illegal crude oil refining operations in the Niger Delta, saying it was part of the antidotes to criminality including militancy in the region.

source: AllAfrica News: Nigeria

Oil Exploration in the Bida Basin

[Daily Trust] Abuja -There are two fundamental errors in the presentation of Mr. Daniel Adugbo entitled, “The long wait for Bida’s first oil” published on page 19 of the Daily Trust of Monday, March 27, 2017. The first error is the impression created i…

[Daily Trust] Abuja -There are two fundamental errors in the presentation of Mr. Daniel Adugbo entitled, "The long wait for Bida's first oil" published on page 19 of the Daily Trust of Monday, March 27, 2017. The first error is the impression created in the commentary that the Governor of Niger State, Alhaji Abubakar Sani Bello is not doing anything to ensure that the Bida Basin is included in the exercise to resume oil exploration in the North. The second error is the impression created that all that is needed to include the

source: AllAfrica News: Nigeria