Poor Saving Culture or Poor Incentives to Save in Zambia?

by Chama Bowa-Mundia and Caesar Cheelo

On Tuesday (31st October 2017), the Bankers Association of Zambia (BAZ) and the Bank of Zambia (BOZ) 2017 commemorated World Savings Day by hosting a savings culture promotional event in Lusaka.

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2017 National Budget welcomed as realistic, but serious questions raised about increased Government spending

The Zambia Institute for Policy Analysis and Research (ZIPAR) has welcomed the Government’s 2017 budget, which it says is realistic in the face of current challenging economic conditions. Overall, the budget presents some conservative and more realistic targets such as  expected economic growth, job creation and inflation  ZIPAR also welcome the Government’s intention to “develop, publish and implement a robust medium term debt management strategy in 2017”.

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What is Happening to Inflation?

In recent days, there has been some confusion about inflation in Zambia. On 27th October 2016, the Central Statistical Office (CSO) announced a 6.4 percentage-point drop in the annual rate of inflation from 18.9% in September to 12.5% in October.

Some commentators have interpreted the drop in the annual rate of inflation as a fall in actual prices. Ordinary Zambians have been confused because when they go to the shops they don’t see falling prices. Far from it, they see prices still going up.

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'Mystery' of the Falling Kwacha

By Caesar Cheelo and Thulani Banda

On 18th October, 2015 Zambia united in response to President Lungu's appeal to fast and pray for forgiveness and reconciliation. Many prayed for the country to receive relief from the recent social and economic woes, including the continuously depreciating Kwacha.

To the disappointment of many, the Kwacha, which had closed at ZK11.70 per US dollar the Friday before fell by 2.6 percentage points to ZK12.01 per dollar the Monday after Prayer Sunday. How could this happen after all the earnest prayers?

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Taxing mines is a daunting task

By Albert Halwampa

The Government recently introduced a new mining tax regime in the 2015 national budget and the reverberations of this decision are still being felt as various stakeholders express their reactions. For instance, the Chamber of Mines has warned that the new regime is likely to hit investment.

One of the major mining companies, Barrick Gold, has also warned of the possibility of suspending operations if parliament approves the new tax measures. Barrick claims that the $45million tax they currently pay annually will increase to approximately $150 million.

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Institutional Brief

Ferus

ZIPAR is a Grant-aided institution under the Ministry of National Development and Planning.

Working towards the fomulation of sound public policies.

Awards

2017 Zambia Environmental Management Agency (ZEMA) Award Winner for Environmental Research zema award.fw

Contacts

 ZIPAR

 CSO Annex Builing, Cnr John Mbita & Nationalist Roads

 +260-211-252559

 info (@) zipar.org.zm