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Central Bank publishes certified 2019 financial statements with positive result of $ 7.1 million- DRC 1 Economy Mining in DRC 

Central Bank publishes certified 2019 financial statements with positive result of $ 7.1 million- DRC

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Audit firm Deloitte Services SARL certifies the financial statements for the 2019 financial year of the Central bank. The summary analysis of the annual accounts for the 2019 financial year shows that the balance sheet total stood at CDF 6,094,158 million against CDF 4,451,962 million at the end of December 2018, i.e. an increase of CDF 1,642,196 million. And so, at the end of the 2019 financial year, the operating result of the Central Bank closed with a positive result of CDF 11,841 million (7.189 million USD at the average… Read More Here
The DRC posted a trade surplus of 1.689 billion USD at the end of August 2020, but down 7.07% compared to 2019 2 Mining in DRC Economy 

The DRC posted a trade surplus of 1.689 billion USD at the end of August 2020, but down 7.07% compared to 2019

arnbethnic
The DRC’s exports are valued at USD 7 billion 205.27 million against imports of USD 5 billion 515.79 million, showing a positive trade balance of around USD 1 billion 689.48 million at the end of August 2020, according to data from the Central Bank of Congo. The trade balance for the first 8 months of the year 2020 is down 7.07% compared to the same period in 2019 which was 1 billion 818.07 billion USD. The Central Bank explains this drop in the trade balance by the implementation of containment… Read More Here
Pre-Budget analysis: Making economic recovery a reality 3 Economy Mining in Zambia 

Pre-Budget analysis: Making economic recovery a reality

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In his recently delivered speech at the official opening of Parliament, H.E. President Edgar Lungu stated that pursuing an economic recovery is the priority of his Government. There is therefore more anticipation than ever ahead of the 2021 National Budget, which Finance Minister Hon. Bwalya Ng’andu is expected to deliver on 25 September. Mining For Zambia spoke to Former President of the Economics Association of Zambia and founder of Betternow Finance Company, Noel Nkoma, about the policies he believes should be implemented to achieve this recovery, and what he hopes to see in the Budget… Read More Here
Felix Tshisekedi Contracts Mining in DRC Economy 

IMF tasks Félix Tshisekedi to publish mining contracts signed by SOKIMO and MIBA

arnbethnic
The mining contracts concerned have not been the subject of any call for tenders and are never published on the website of the Ministry of Mines. Worse, the interests of the DRC are sold off, in these deals yet concluded under the era of President Félix Tshisekedi according to NGOs, By asking for the publication of these contracts, the IMF is actually saying the DRC cannot sell off its mining assets likely to bring it billions of dollars while at the same time begging for financial support. from international financial institutions. The… Read More Here
Post Covid-19 economy Mining in Zambia Covid-19 Economy 

Feeling for the economy’s pulse | Zambia

arnbethnic
Leading businesspeople and economists give their views on Zambia’s economic future post-COVID The question of how Zambia’s already weakened economy can survive the mounting fiscal pressure – exacerbated by COVID-19 – was recently examined in The Road to Recovery: A policy brief for a post-COVID Zambian economy, released by the Zambia Chamber of Mines. Many Zambians have since voiced their views on the value of its recommendations.  Mining for Zambia asked Zambian business owners, economists and other experts to weigh in on the debate around what measures should be taken to put… Read More Here
Arc Minerals 00 ZCCM-IH Mining in Zambia Copper Economy 

Zambians ill-informed about their mineral wealth – ZCCM-IH minority shareholders

arnbethnic
ZCCM-IH minority shareholders say Zambians are ill-informed about their mineral wealth and exploitation. In a statement issued by Thierry Charles on behalf of Euronext Minority Shareholders of ZCCM-IH, a few weeks ago, the excitement caused by the exploitation of a Zambian gold deposit by a foreign company, in this case a Sudanese one, alongside ZCCM-IH, particularly astonished the stakeholders and demonstrated the lack of knowledge of the Zambian people in the mining sector. “Our astonishment can be summed up as follows: how is it that there has been such popular… Read More Here
Claude Mianzuila Mining in DRC Economy 

Claude Mianzuila, the whistleblower and expert in diamond valuation regains his freedom | DRC

arnbethnic
Claude Mianzuila, whistleblower and expert in diamond valuation in Mbuji-Mayi, has just been acquitted by the Secondary Prosecutor’s Office at the Mbuji-Mayi Peace Court in Kasai Oriental, two months after his arrest, confirms his lawyer. He was arrested following a complaint from Mrs. Linda KABU MUKENDI, wife of Mr. Jean Claude MAMPUYA, Financial Director of MIBA, who accused him of damaging charges.  In a statement sent to DESKECO.COM this Thursday, August 06, thirty-three (33) Member organizations of the Coordination of Civil Society Organizations, working for the promotion of the governance of… Read More Here
60% Repatriation Mining in DRC Economy 

Non-compliant miners have 15 days to repatriate 60% of export earnings to their DRC held accounts

arnbethnic
Mining companies that have not yet repatriated 60% of their export earnings have 15 days to do so under penalty of sanction, demands the Council of Ministers of Friday August 28 on the instructions of the President of the Republic, Félix. Tshisekedi. According to the data put forward by the Head of State during this 46th meeting of the Council of Ministers held on Friday, August 28, an amount of approximately 1.5 billion USD has not been repatriated to the Democratic Republic of Congo by certain companies. mining during the… Read More Here
Zambia Chamber of Mines Boss Mining tax Economy Mining in Zambia Taxes 

Zambia Chamber of Mines reiterates their position on MRT

arnbethnic
After the Zambia Revenue Authority Commissioner-General Kingsley Chanda said the Chamber of Mines should not alarm the nation by issuing false statements on Mineral Royalty Tax. The Chamber of Mines says it will stand by what it earlier stated that the Mineral Royalty Tax dropped by 12 percent and not the six percent announced by the Zambia Revenue Authority. Responding to a press query, Chamber president Goodwell Mateyo said the chamber stood by its position. “I believe the Commissioner-General was referring to a report produced by the Chamber of Mines.… Read More Here
Albert Yuma FEC Mining in DRC Economy Mining tax Taxes 

FEC denounces the detention of economic operators following inquiries into compensation for import duties and taxes

Arnie
The president of the Federation of Congo Enterprises (FEC), Albert Yuma, in a correspondence on August 18, 2020, wrote to the Attorney General at the Court of Cassation to denounce the detention of economic operators in the context of the rights compensation file. and import taxes. “We have recently witnessed a wave of arrests of which economic operators are subject, which are systematically followed by detentions by the courts, for offenses in the context of compensation for operations linked to claims of companies on public authorities with those relating to… Read More Here

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