ZACCI DAILY BUSINESS NEWS
WEDNESDAY DECEMBER 1, 2021

FOREIGN EXCHANGE: ZMW:

	BID	OFFER
USD/ZMW	17.7792	17.8292
ZAR/ZMW	1.1067	1.1103
GBP/ZMW	23.7139	23.7895
EUR/ZMW	20.1989	20.2575	(BOZ)

ZAMBIA REVENUE AUTHORITY EXCHANGE RATES 01-15 DECEMBER

US DOLLAR ZMW 17.739	EURO ZMW 20.1329
SOUTH AFRICAN RAND ZMW 1.0980	BRITISH POUND ZMW 23.6994

AGRICULTURE COMMODITY PRICES
GTAZ reference prices

Commodity	Purchase(USD)	Sell (USD)
Soya beans	600	625
Wheat	455	465
Maize	150	165
Sun flower	-	-
Cowpeas	518	530
G/nuts shelled	1100	1200
Unshelled G/nuts	-	-
Rice	-	-

Source: Grain Traders Association of Zambia (GTAZ) Secretariat

INTERNATIONAL COMMODITY MARKETS

COMMODITY	CURRENT	PREVIOUS
Oil (BRENT) ($/barrel)	70.57	82.39
COPPER ($/ton)	9, 605.00	9, 852.50
COBALT ($/ton)	65, 800.00	63, 155.00
NICKEL ($/ton)	20, 190.00	21,135.00
ALUMINIUM ($/ton)	2, 635.00	2,699.00
LEAD ($/ton)	2, 344.00	2,320.00
ZINC ($/ton)	3, 348.50	3429.50
STEEL ($/ton)	695.00	715.00

(lme)

ZAMBIA ECONOMIC INDICATORS

	CURRENT	PREVIOUS
Inflation (%)	19.3% (NOVEMBER, 2021)	21.1% (OCTOBER 2021)
Annual GDP (%)	-3.0% (2020)	2.3% (2019) (BOZ)
Gross Reserves (US$ Billion)	2.90	1.45
BOZ Policy Rate (%)	9.0%	8.5%

LOCAL BUSINESS NEWS

Govt bonds oversubscribed to K4bn

The auction of government bonds was heavily oversubscribed to K4.076 billion yet the Bank of Zambia (BoZ) was only looking for k1.5 billion from the market. And Zanaco Plc. said the kwacha will continue to face headwinds and getting weakened following the increasing demand for United States (US) dollars from Christmas festivity importers who have remained on a solid path

Read more in Zambia Daily Mail

State, private sector partners in development
Government will continue engaging the private sector to find solutions to their challenges and the assist the state actualize its development agenda. Minister of Small and Medium Enterprises Development Elias Mubanga said the private sector is key in helping government achieve its developmental programme of increasing income generation and employment creation.

Read more in Zambia Daily Mail

Finland hands out cash to SMEs

The government of Finland has engaged African management services company (AMSCO) to build the technical and financial capacity of selected Zambian small and medium-sized enterprises (SMEs) that will receive €30,000 each to boost their respective businesses. And the Minister of Small Medium Enterprises Development Elias Mubanga said Government is set to revive the village industry service (VIS) aimed at creating business and trading opportunities for the local.

Asian Factories Signal Stability as New Variant Threat Looms

Manufacturing activity in Asia outside China stabilized last month amid easing lockdown and border restrictions, setting the sector on course to face a possible new challenge from the omicron variant of the coronavirus.

European Firms Skirt Vaccine Mandates as U.S. Pushes Ahead

U.S. companies, from United Airlines Holdings Inc to Citigroup Inc, are requiring employees to get vaccinated or risk losing their jobs. The situation looks very different in Europe, even as Covid-19 cases surge anew and governments take an increasingly tough line.

Australia GDP Falls Less Than Feared, Shows Signs of Resilience

Australia’s economy posted a smaller-than-forecast contraction, a result that’s likely to reinforce views the Reserve Bank will taper or potentially even scrap its bond buying program early next year.