Daily News Round-Up- 07.06.22

KCM APPOINTS AN INVESTMENT ADVISOR

Photo: Wikimedia Commons

Konkola Copper Mines (KCM) has appointed a new advisor to aid the company in its search for a new investor.

KCM is looking for a private investor to expand the mine's production.

The previous government had placed the mine into liquidation following a failure by the owner company, Vedanta, to honour its licence conditions.

The hearing is supposed to take place next year in London.

UPND RELEASE BUDGET FUNDS & PAY GOVERNMENT WORKERS

The Ministry of Finance released K.93 billion of funds for the implementation of the 2022 budget.

Situmbeko Musokotwaine, Finance and National Planning Minister explained that K.92 billion of the funds were financed domestically.

The funds have mostly gone towards the provision of medical drugs and supplies.

K2.8 million was allocated to women and youth empowerment programmes under the Constituency Development Fund.

Other sectors that received the funds include primary and secondary schools, food security, social cash transfers, microfinancing institutions, and infrastructure, specifically those concerning the maintenance of roads. 

The funds were also allocated to government workers, some of which had not been paid for five years due to the previous government’s mishandling of finances.

ZAMBIA PLAYS COMOROS IN ACN

Photo: Getty Images

Zambia is set to play Comoros today at the National Hero’s Stadium in the sophomore qualifying fixture for the Africa Cup of Nations (CAN).

The game has been predicted to be a close call with sports mole suggesting a 2-1 win for Zambia despite their previous defeat.