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Showing posts from March, 2020

African airlines lose $4.4 billion in revenue following the spread of coronavirus on the continent

Lagos, Nigeria (CNN)Multiple flights have been cancelled or temporarily suspended across Africa as airlines struggle to cope with falling demand following the spread of coronavirus.
Rwanda Air and Air Mauritius are among airlines that have suspended flights to China. Morocco has suspended all international flightsto and from its territory "until further notice" and Kenya Airways also suspended flights to countries affected by the virus.
According to a report from the International Air Transport Association (IATA), as of March 11, African airlines have recorded a loss of up to $4.4 billion in revenue since the virus surfaced.

Adefunke Adeyemi, IATA's Regional Director for Advocacy and Strategic relations in Africa says passenger demand for Africa has reduced significantly. International bookings in Africa went down by 20% in March and April, while domestic bookings have fallen by about 15% in March and 25% in April, according to data from IATA.

"Not as many passengers ar…

Is there a mealie-meal shortage in Zambia?

A critical shortage of mealie-meal has been reported in some parts of Ndola, Luanshya and Chingola towns. This is is according to a story published on The Mast Online.  The Copperbelt biggest supplier of mealie-meal is Antelope Milling, which is based in Luanshya. And Antelope Milling senior director Jimmy Kaldis explained that the biggest challenge was load-shedding which has affected their production. “Everywhere there are queues and I am the cheapest in the market. I am selling at K135 to K137 per 25kg bag of breakfast. I want to supplement government efforts. Other millers are getting maize from FRA but they are not selling at the government recommended prices. But I am faced with a challenge of load-shedding of 6 hours. I know the crisis in the country of deficit of power due to climate change and I sympathise with the government. So please I am appealing to you for the sake of these people that are queuing up all over places, please, to reduce on load-shedding so that l can produce…

Mulling Over Art: Tayali goes for K27,000 at auction

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AFTER an animated bidding war between Chilambwe Lwao and Justine Chola, two well-known Zambian art collectors, a painting by Lusaka-based artist Geoffrey Phiri sold to the highest bidder, Chola for a handsome K18,000 (eighteen thousand kwacha). But taking the top spot in the art auction at Tace Zambia Ltd (The Auction Centre) on Kafue Road in Lusaka on Saturday, February 29, was an abstract painting by Zambian modern master Henry Tayali (1943-1987) that went under the hammer for an arguably acceptable K27,000. This painting also went to Chola. Tayali is not only considered the most famous Zambian artist outside Zambia, the Henry Tayali Visual Art Centre and the Henry Tayali Award for Best Two-Dimensional Visual Artist presented during the National Arts Council of Zambia’s Ngoma Awards are named after him. Advertised and presented as “Artworks and Sculptures Auction Sale duly instructed by Bank of Zambia – Liquidation Auction Sale on behalf …

Zambian Kwacha exchange rates 10.03.2020

Zambian Kwacha Reaches Parity With Rand After Steep Drop: Chart

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For close to three decades, Zambia’s currency would buy you more U.S. dollars than South Africa’s rand. The kwacha’s steep decline in the past five years has changed that: it’s been trading on par with the rand since the end of last year. That’s driving up costs in a country that buys almost a third of its imports from South Africa, which, in turn, pays dollars for most of the goods it purchases abroad. - Bloomberg