Governor, Central Bank Caleb Fundanga of Zambia

Ndola Junior Achievement (JA) Zambia board chairman Caleb Fundanga has said there is need to improve capacity of JA programmes as there are a lot of opportunities available in working with young people who constituted the largest segment of the national population.

Dr Fundanga said the foundation of the future for the country rested on young people.

Dr Fundanga said JA Zambia was currently recruiting companies and individuals to join in promoting business and economic education for Zambian youths.

4bn raised from mine taxes in 2007, says FundangaBy Edwin Mbulo in LivingstoneMonday April 21, 2008 BANK of Zambia (BoZ) governor Dr Caleb Fundanga has said Zambia last year raised US$4 billion from mine taxes.

In an interview at the Royal Livingstone Hotel, Dr Fundanga said Zambia 's mining tax regime was not the worst and praised Konkola Copper Mines (KCM) for accepting the new mining tax regime.

Dr Fundanga said there was need to grow the revenue collection from the mines if there was going to be an improvement in the roads, education and health sector.

Dr Fundanga said had Lumwana mines helped to develop the Chingola-Solwezi Road, it would not have been in the current poor state.

Briefing the press over the Junior Achievement (JA) Zambia programme at Pamodzi Hotel yesterday, Dr Fundanga said there was need to instill the entrepreneurship mind in most Zambian people at an early age.

Dr Caleb Mailoni Fundanga was appointed Governor of the Bank of Zambia in March of 2002, after having served as Senior Advisor to the President of the African Development Bank in Abidjan, Cote d’Ivoire from 1998.

Fundanga had served in senior positions in Government.

Fundanga has instilled a culture of hard work and perseverance which has seen him and the Central Bank achieve major international recognition.

Fundanga is currently Alternate Governor of the IMF Board of Governors, he is also the Chairperson of the Programmes Committee of the African Research Consortium, of which he is also a Board member.

Fundanga has served as President of the World University Service International, as Chairperson of the Economics Association of Zambia, and as Treasurer of the University of Zambia Students Union.

Bank of Zambia Governor Caleb Fundanga said NTEs were expected to reach US$900 million against the US$1 billion projected earlier.

Dr Fundanga said already the NTEs sector had grown to reach the value exceeding the total value of exports recorded in 2000 which was about US$900 million.

Dr Fundanga said Government should continue to put in place policies that would encourage production in other sectors such as uranium and oil on which Zambia could anchor its national development.

BoZ Governor Caleb Fundanga said Zambia could be rated once the national budget was presented next year.

Dr Fundanga said the delay in rating Zambia was mainly due to unfortunate situations the country had found itself in over the last few months of the year.

Zambia will pull throughBy MONICA MAYUNIZAMBIA will pull out of its current economic difficulties that have been caused by the global economic crisis, Bank of Zambia Governor (BOZ) Caleb Fundanga has said.

Dr Fundanga said in Lusaka yesterday that although the credit crunch has adversely affected Zambia’s economy, particularly the mining sector, the country will again get onto a firm economic footing.

Dr Fundanga said that the continued plummeting price of copper on the international market in the last quarter of the year has adversely affected Zambia’s economy but he urged mining companies to “hang in there” and utilise their reserves during these trying times because the situation was likely to change for the better soon.

Dr Fundanga said things are bound to change anytime just as the price of oil has reduced from over $100 per barrel to under $40 today.

Dr Fundanga said that Zambia’s economy would be doomed if agriculture was not taken seriously.

Dr Fundanga said that the illness of President Levy Mwanawasa and his subsequent death was the biggest draw back to Zambia’s economic stability.

Dr Fundanga said the State Funeral for Dr Mwanawasa and the unscheduled Presidential election were very costly for Zambia.

Dr Fundanga said that Zambia made significant economic progress in 2008 and these included the opening of smelters and other mining activities, the commissioning of a multi-million dollar cement factory in Chilanga, the construction of the Chembe Bridge in Luapula and the hosting of the Euro-Money Conference.

Dr Fundanga said the opening of banks outlets in residential areas was another sign of growth in the financial sector.

On the international scene, Dr Fundanga said that apart from the falling copper prices, Zambia has been affected by the global food crisis.

Lusaka - Maintaining economic stability while trying to boost employment will be the name of the game in southern Africa's boom economy Zambia in 2008, Bank of Zambia governor Caleb Fundanga said Friday.

Bank of Zambia (BoZ) governor Caleb Fundanga said the new figure would be announced next week.

Fundanga said the economy would remain resilient because a rise in non-mining exports would make up for losses in the industry hurt by a fall in copper prices.

Fundanga said economic growth forecasts, which had been projected at 7 percent for both 2008 and next year, would also be revised downwards.

1 billion in December 2007,’ Fundanga said in a statement.

Bank of Zambia Governor Caleb Fundanga says the financial and economic crisis that developed nations were facing will have a slight effect on the Zambian economy as Zambia’s foreign reserves were belt-up when the country’s economic performance was buoyant.

Bank of Zambia Governor Caleb Fundanga said that the Bank has this year recorded 30 cases as compared to 21 cases in the first quarter of the year.

Dr Fundanga said that a combined team of both the Bank of Zambia officials and the Zambia Police Service has since recovered counterfeit banknotes amounting to US$2.

Bank of Zambia Governor Caleb Fundanga has called on emerging economies, including those in the Middle East, to consider partnering with African countries that have potential to produce the world’s food needs.

Fundanga has called on developed countries to increase their technical support to agriculture sectors of African countries in order to build capacity in food production.

Dr Fundanga was speaking at the just-ended Follow-Up International Conference on Financing for Development to review the implementation of the Monterrey Consensus held in Doha, Qatar.

Fundanga said Zambia, like many other developing countries, recorded unprecedented levels of economic growth in the past seven years which were now being partially frustrated by the global food and financial crisis.

Fundanga said Zambia placed a lot of importance on the implementation of the Monterrey Consensus because it took place at a time of global economic uncertainty.

Fundanga has since urged the world to find a global response where all developed and developing countries, should participate in finding lasting solutions to the global food and financial crisis.

Fundanga is Right! Thew situation is serious.

Caleb Fundanga said Zambia had recorded 1.

com] -- ZAMBIA could be a million-tonnes-per-year copper producer by 2011, Bank of Zambia governor Caleb Fundanga said on Friday.

This is good but it can also affect the price, because when you produce so much, sometimes, it affects the price and total earnings might be lower," Fundanga said in a Reuters report.

Bank of Zambia (BoZ) governor Caleb Fundanga expressed optimism that copper prices would soon rebound but said the developments at LCM were a threat to the country's copper industry.

Fundanga said Zambia remained optimistic the global economy would stabilise soon and demand for copper would begin to rise to give relief to the industry, which earns Zambia 63 percent of its foreign exchange.

Fundanga said the other way Zambia would mitigate the effects of falling copper demand and prices was by diversifying its economy to other sectors such as agriculture and manufacturing of copper products.

demand among the world's major consumers.

encourage greater economic activities.

Bank of Zambia governor Caleb Fundanga said at the banks end of year media briefing that Zambias balance of payment support had significantly dropped to US$204.

Bank of Zambia (BoZ) governor Caleb Fundanga said during the end of year media briefing that fresh Boz data showed that copper mines produced 456,893 tons of finished copper by November compared to 457,730 tons output in the same period in 2006.

4 billion held by the Bank of Zambia and another US$1 billion by commercial banks, Fundanga said adding that Zambia has 5.

Fundanga said the kwacha (ZMK) appreciated 11.

Bank of Zambia (BoZ) Governor Caleb Fundanga expressed the view earlier this week that year-end inflation was likely to average 7%, driven by positive performances of the external sector and lower non-food inflation rates.

would not like to be associated with something that was bad.

Act of Parliament for it to be effective.

Canadian based company to rectify the problem.

central bank governor Caleb Fundanga said on Wednesday.

Express effective corporate social responsibilityBANK of Zambia (BOZ) governor Caleb Fundanga has urged the private sector to exercise their corporate social responsibility effectively.

Fundanga said a sharp rise in electricity tariffs could lead to increases of up to 35 percent in water tariffs, pushing up industrial production costs.

Kwacha appreciation due to copper, HIPCBANK of Zambia Governor Dr Caleb Fundanga says the appreciation of the Kwacha can be attributed to the market forces in the economy.

Dr Fundanga said in an interview from Livingstone yesterday that increased copper production and Zambia 's attainment of the HIPC completion point were some of the factors contributing to the appreciation of the local currency.

Foreign investors a plus to Zambia’s economy – Fundanga Kitwe,June 21, ZANA—Bank of Zambia Governor (BOZ) Caleb Fundanga says it is wrong for Zambians to ask government to come up with a law that would ban foreign investors from externalizing their profits.

Fundanga said in Kitwe today that calls by Zambians to ban investors from externalizing their profits would scare away potential investors from investing in the country.

Fundanga said investors were currently contributing massively to the development of the Zambian economy through the payment of various forms of taxes to Zambia revenue authority (ZRA) and job creation.

Fundanga said the only way through which investors could keep their profits in the country was to create favoaurble economic policies to enable them invest in more economic activities.

BoZ Governor describes Livingstone as vital in Banking sectorBoZ Governor describes Livingstone as vital in Banking sector Livingstone, April 11, ZANIS- Bank of Zambia (BoZ) Governor Dr Caleb Fundanga has described Livingstone as an important and strategic tourism city in as far as the banking sector was concerned.

Dr Fundanga has also warned banks by the borders to be more alert in view of the many criminal elements bent on illegal acts involving money.

Dr Fundanga was briefing Journalists after his tour of Zambia National Commercial Bank (ZANACO), Barclays Bank, Standard Chartered Bank, Indo Zambia Bank and Finance Bank yesterday.

Dr Fundanga said this was crucial adding that it was imperative to study the macroeconomic trends where lending and interest rates were lowered ascurrencies appreciated otherwise.

LUSAKA (Reuters) - Zambia has enough currency reserves to protect the economy in case the illness of President Levy Mwanawasa prompts some reduction in foreign investment, central bank Governor Caleb Fundanga said on Tuesday.

Fundanga said the only slight worry of the Bank of Zambia (BoZ) was rising oil and food prices, which threatened its single digit inflation target.

Fundanga said it was evident the illness of Mwanawasa, who is in a French hospital after suffering a second stroke, had caused anxiety among some investors but that there was no need for panic.

Fundanga said Zambia had investment pledges totalling $1.

Fundanga said non-traditional exports at $187.

Fundanga said the kwacha appreciated 11.