Zambia: Latest News
Dana Sanchez, 11:38 am
Occupancy at the Victoria Island hotel and casino fell to 42 percent. Sun International isn’t the first South African company to clash with Nigerian authorities. Telecoms group MTN got a record-breaking multi-billion dollar fine. Nigeria is already in recession and it’s going to last a long time, an economist predicts. This month, South Africa reclaimed from Nigeria the title of Africa’s biggest economy due to appreciation of the rand and devaluation of the naira.
Kevin Mwanza, 9:20 am
Zoona, one of the leading money transfer service providers in Zambia and Malawi, raised $15 million in its second round of capital raising as it seeks to spread its operations to ten countries across Africa by 2020. International Finance Corporation (IFC), a member of the World Bank Group, led the investment with $7.5 million while Omidyar Network doubled its investment in the second phase.
Staff, 7:00 pm
David Rogers and wife Jenni Saunders recently spent a few days enjoying the Zambezi during their stay at luxurious Sindabezi Island Lodge in Zambia. Sindabezi is located on its own private island on the mighty Zambezi river, just a short way upstream from Vic Falls. The Zambezi River remains one of the least explored rivers in the world and Sindabezi Island is an authentic and raw escape that allows visitors to revel in its secrecy and delight.
Dana Sanchez, 5:11 pm
Biometrics have been around for years. African countries have used fingerprint biometrics for voting, but they’re relatively new in the payment space. Fingerprint login already exists in mobile banking in South Africa, Kenya, Benin and Nigeria. London-based bank Standard Chartered plans this year to bring biometric tech to mobile banking in eight African countries. The bank claims this will be a first in most markets, and the largest deployment of fingerprint biometric tech by any international bank.
Keren Mikva, 1:52 pm
When it comes to the stuff bling is made of, Africa is enormously bountiful. Its mineral deposits make it one of the richest natural resource-laden places on Earth and everyone wants some. The following are the most mineral-rich African countries.
Alexis Barnes, 7:13 pm AFKI Original
Pregnancy is a legitimate fear in Mozambique, where 48 percent of women were married by age 18. Child brides are more likely to be poor and stay poor. Mozambique recently joined Egypt, Zambia and Ethiopia as a growing number of governments develop strategies, on paper at least, to end child marriage. “It is a waste when half the population is not contributing to the prosperity of a country,” a stakeholder said.
Staff, 9:29 pm
Hakainde Hichilema, the main opposition, is a 54-year-old economist. He has contested nearly all elections in Zambia since 2006. A wealthy businessman, he has a solid track record in the private sector. Lungu defeated Hichilema in the 2015 election by less than 28,000 votes after President Michael Sata died in office. This time, his margin of victory was about 200,000 votes.
Karen Elowitt, 7:00 pm
The Victoria Falls are spectacular no matter how you look at them, but if you’re gonna see them, you might as well do it in as many ways possible, and in the best manner possible. Here are eight great ways to see Victoria falls, whether you prefer to view them from high above the Earth, or way down below the magical curtain of water, somewhere in between — or all of the above. (We recommend all of the above!)
Keren Mikva, 2:56 pm
Nine out of the 10 biggest produce exporters to the U.K. are E.U. member countries. Potential changes to E.U. tariffs and the falling value of sterling have forced some retailers to consider sourcing from different countries. U.K. produce importers say they expect to see more produce from Africa. South Africa is already the No. 2 source of fresh fruit to the U.K. after Spain, and Kenya may become a beneficiary of the changing trade patterns.
Dana Sanchez, 3:06 pm
Much of the current real estate investment in Africa is undertaken by private equity funds. Several other investor types are deterred and largely absent due to legislative restrictions, risks around money laundering and the inward-looking nature of African markets. Overseas pension funds, for example, held back because of legislative restrictions and only sought exposure to certain African markets once these were lifted.
- Real Estate