Good News Inflation Falls Zambia News

Inflation Falls: Zambia’s annual inflation rate has fallen to 7.8% in June from 9.1% recorded in May this year. In its monthly bulletin, Central Statistical Office (CSO) director of Census and Statistics Efreda Chulu attributed the decline in the country’s inflation rate to the decrease in some food prices such as mealie meal, maize grain, fresh vegetables and dried kapenta. Ms Chulu said that the annual inflation rates declined for clothing and footwear, furniture and household goods, medical care, recreation and education and other goods and services. 

New Power Plant Will Be Started In 2011: Zambia's main distributor of power to the mines will start building a new power generation plant next year to help meet growing demand from the metal producers. Michael Tarney, the Copperbelt Energy Corp. (CEC) managing director for corporate development, said the 40 MW Kabompo hydropower plant planned for the copper-rich north-western region would cost $120 million. Demand for electricity by the mines is estimated to rise to 1,000 megawatts (MW) within five years from about 800 MW following a rally in copper prices that encouraged mining companies to invest in new projects in the country. The project should be commissioned by 2015.

Power Cut Disruption: Most parts of the country were plunged into darkness when a circuit breaker at Kariba North Bank Power Station in Siavonga blew up. Among organisations affected by the power-cut were mines, water supply companies and telecommunication institutions. Copperbelt Energy Corporation said it had imported up to 50 megawatts of electricity from the Democratic Republic of Congo to supply mines and also had to switch on its six emergency turbines. Minister of Energy and Water Development Kenneth Konga says the government has embarked on a US$400 million programme to rehabilitate power generation, transmission and distribution infrastructure country-wide. Mr Konga said Government is also diversifying into renewable energy such as solar and wind and the use of thermo-energy.  

'Don't Blackmail Us' Says Banda: President Rupiah Banda said donors should not blackmail the Government by withholding support as a way of resolving challenges faced in various sectors of the economy. The president said donors were at liberty to select areas they would like to help Zambia in but the help must not be accompanied by attempts to interfere with the governance of the country, and he urged Zambians to stop rejoicing in their conduct.

Serious Measles Outbreak: The Ministry of Health has acknowledged that the countrywide outbreak of measles is serious with more than 2,800 cases and 66 deaths recorded since January. The outbreak of the disease was first reported in April 2010. Ministry of Health spokesperson Kamoto Mbewe has said that routine vaccinations against the disease had been stepped up in Lusaka which had recorded the highest number at 2,453 with 66 deaths. This rise in measles cases is despite the recent countrywide vaccination exercise carried out in all health centres in April this year.

Zambeef Gets $25m Loan: A German financing company, DEG, has given the Zambeef group of companies a $25 million loan to be repaid over a period of eight years; it will go towards financing Zambeef's expansion programme in the irrigation sector. Zambeef Executive Director for Operations, Nick Wilkinson, said once completed the irrigation project will help the company produce sixty thousand tonnes of vegetable oils for the country. DEG Board member Michael Bornmann said his company had decided to support Zambeef because the firm had demonstrated its potential to becoming the biggest food producer in the country and the region.

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