Zambia News
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Copper futures declined for the second straight day on signs of slowing economic growth in China, the world’s biggest consumer of industrial metal.
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Updated 1 hour, 24 minutes ago
ZCCM Investments Holdings Plc is under pressure from minority shareholders to boost transparency in the management of Zambia’s state-controlled mining-investment company and list on a regulated stock market.
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Vedanta Resources Plc’s Zambian unit plans to cut 24 percent of its workforce after costs rose and the copper price dropped.
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Zimbabwe’s stock exchange, whose main industrial index has jumped 38 percent this year, plans to sell shares through an initial public offering by the end of 2013, according to the country’s Securities Exchange Commission.
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Zimbabwe’s stock exchange regulator said a planned law to force banks to sell their shares on the local bourse will only work once the nation has addressed issues holding back equity valuations.
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Tanzania plans to boost cargo volumes by 80 percent over the next two years at the Dar es Salaam Port by adding railway links and upgrading facilities to improve efficiency, Transport Minister Harrison Mwakyembe said.
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Mota-Engil SGPS SA, the Portuguese construction company that said March 20 it was seeking $5 billion of contracts in Africa, is now looking at an even larger figure, its chief executive officer said.
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Barloworld Ltd., a supplier of construction equipment to Sasol Ltd. and BHP Billiton Plc in South Africa, said the weak rand is positive for the company because it has a number of dollar-based overseas contracts.
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Graham Soko, a shopkeeper whose business straddles the railway line south of Lusaka station in Zambia’s capital, says he’s hoping to reap profits from the government’s plans to rejuvenate the dilapidated railway system.
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Eltel Networks Te AB, a Swedish power-transmission provider, said it will electrify an $8 billion refinery project in Angola as the southwest African country seeks to cut fuel imports following a 27-year civil war.
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