Zambia seeks to regulate, monitor mining companies' financial transactions

In a bid to check losses to the state, the Zambian government may empower the country's central bank to regulate and monitor all foreign-owned mining companies’ international financial transactions.

Finance minister Alexander Chikwanda tabled a draft bill in Parliament last week that seeks to to give extra powers to the central bank and allow it to regulate and monitor foreign exchange inflows and outflows and amounts which foreign-owned companies remit to their shareholders. Although the bill is aimed at covering all foreign-owned companies, its main target...

Published

Felix Njini

March 04, 2013

02:50 GMT

Windhoek