PEONY ONLINE provides daily market reports on scrap metals to over 2,000 subscribers. The reports must break down complex financial information into short, easy-to-understand summaries for an audience of scrap metal professionals who are typically not financially savvy. The author writes 3 concise reports per day within tight deadlines, focusing on trends, factors influencing prices, and near-term predictions for specific metals like copper. Subscribers appreciate the simple format for quick reference in their work.
The document provides an overview of recent news and updates from the Strathmore Centre for Value Investing (SCVI). It discusses a new logo for SCVI, new interns joining the team, and a new Editor for their publication taking over from the current Editor. It also introduces SCVI Insight as the publications and communications arm of SCVI. The vision is for SCVI Insight to become the foremost platform for young researchers and writers at Strathmore University.
Central banks around the world are printing large amounts of money to pay debts and obligations, which will likely lead to higher inflation. This "race to debase" currencies is a desperate attempt to stimulate exports and reduce debt, but it ultimately devalues currencies. Silver remains undervalued and a strategic commodity due to strong industrial demand and limited above-ground supplies. While paper markets can manipulate prices temporarily, physical supply and demand fundamentals will determine silver's true value over the long run. Investors are buying silver now as a hedge against inflation and currency debasement.
This document provides an overview of the St. Petersburg International Economic Forum 2015, including:
- The forum included over 150 events with 668 speakers from 120 countries discussing topics related to stability and growth.
- Key events included a plenary session with the Russian President Putin and roundtables with ministers and heads of state from countries like China, Iraq, and Mongolia.
- Over 10,000 people attended including CEOs from 486 Russian and 319 foreign companies.
- 205 agreements were signed totaling RUB 293.4 billion, including RUB 44.2 billion in credit agreements.
The Henley Group’s Market Outlook publicationPedrojnr55
The document provides an overview and outlook for various global asset classes, including equities, fixed income, currencies and property. Key points include:
- Developments in Europe continue to deteriorate with talk of more bailouts and debt restructurings that will impact depositors, bondholders and creditors.
- The US economy faces challenges such as high national debt levels and Detroit's bankruptcy highlighting issues for other cities.
- China and Japan each face their own economic challenges around rebalancing and stimulating growth.
- Precious metals saw a recovery in recent weeks after declines in April and June, with signs of shortage in the metals market.
- Equity markets overall receive a negative assessment due to unstable financial markets,
The Henley Group's Market Outlook - August 2013Tania Scott
The document provides an overview and outlook for various global asset classes, including equities, fixed income, currencies and property. Key points include:
- European debt problems continue to deteriorate and discussions of bailouts, bail-ins and debt restructurings are resurfacing.
- The US economy continues to struggle with high unemployment and declining real wages. Detroit's bankruptcy filing highlights fiscal issues facing many US cities.
- China and Japan face their own economic challenges as China tries to rebalance its economy and Japan attempts stimulus through money printing.
- Precious metals saw a recovery in recent weeks after declines in April and June, but concerns remain around a potential collapse of the paper gold market.
-
During this week's Invast Insights we cover:
► Fundament drivers behind the Commodities
► The China slowdown effect
► The future of the Copper
GRAB A 4 WEEK INVAST INSIGHTS FREE TRIAL (WEEKLY NEWSLETTER)
http://invast.com.au/insights
CONNECT WITH INVAST TODAY
Facebook ► https://www.facebook.com/invastglobal
Twitter ► http://twitter.com/InvastGlobal
Linkedin ► http://www.linkedin.com/company/invast
Invast ► http://www.invast.com.au
Google+ ► https://plus.google.com/+InvastAu/
PEONY ONLINE provides daily market reports on scrap metals to over 2,000 subscribers. The reports must break down complex financial information into short, easy-to-understand summaries for an audience of scrap metal professionals who are typically not financially savvy. The author writes 3 concise reports per day within tight deadlines, focusing on trends, factors influencing prices, and near-term predictions for specific metals like copper. Subscribers appreciate the simple format for quick reference in their work.
The document provides an overview of recent news and updates from the Strathmore Centre for Value Investing (SCVI). It discusses a new logo for SCVI, new interns joining the team, and a new Editor for their publication taking over from the current Editor. It also introduces SCVI Insight as the publications and communications arm of SCVI. The vision is for SCVI Insight to become the foremost platform for young researchers and writers at Strathmore University.
Central banks around the world are printing large amounts of money to pay debts and obligations, which will likely lead to higher inflation. This "race to debase" currencies is a desperate attempt to stimulate exports and reduce debt, but it ultimately devalues currencies. Silver remains undervalued and a strategic commodity due to strong industrial demand and limited above-ground supplies. While paper markets can manipulate prices temporarily, physical supply and demand fundamentals will determine silver's true value over the long run. Investors are buying silver now as a hedge against inflation and currency debasement.
This document provides an overview of the St. Petersburg International Economic Forum 2015, including:
- The forum included over 150 events with 668 speakers from 120 countries discussing topics related to stability and growth.
- Key events included a plenary session with the Russian President Putin and roundtables with ministers and heads of state from countries like China, Iraq, and Mongolia.
- Over 10,000 people attended including CEOs from 486 Russian and 319 foreign companies.
- 205 agreements were signed totaling RUB 293.4 billion, including RUB 44.2 billion in credit agreements.
The Henley Group’s Market Outlook publicationPedrojnr55
The document provides an overview and outlook for various global asset classes, including equities, fixed income, currencies and property. Key points include:
- Developments in Europe continue to deteriorate with talk of more bailouts and debt restructurings that will impact depositors, bondholders and creditors.
- The US economy faces challenges such as high national debt levels and Detroit's bankruptcy highlighting issues for other cities.
- China and Japan each face their own economic challenges around rebalancing and stimulating growth.
- Precious metals saw a recovery in recent weeks after declines in April and June, with signs of shortage in the metals market.
- Equity markets overall receive a negative assessment due to unstable financial markets,
The Henley Group's Market Outlook - August 2013Tania Scott
The document provides an overview and outlook for various global asset classes, including equities, fixed income, currencies and property. Key points include:
- European debt problems continue to deteriorate and discussions of bailouts, bail-ins and debt restructurings are resurfacing.
- The US economy continues to struggle with high unemployment and declining real wages. Detroit's bankruptcy filing highlights fiscal issues facing many US cities.
- China and Japan face their own economic challenges as China tries to rebalance its economy and Japan attempts stimulus through money printing.
- Precious metals saw a recovery in recent weeks after declines in April and June, but concerns remain around a potential collapse of the paper gold market.
-
During this week's Invast Insights we cover:
► Fundament drivers behind the Commodities
► The China slowdown effect
► The future of the Copper
GRAB A 4 WEEK INVAST INSIGHTS FREE TRIAL (WEEKLY NEWSLETTER)
http://invast.com.au/insights
CONNECT WITH INVAST TODAY
Facebook ► https://www.facebook.com/invastglobal
Twitter ► http://twitter.com/InvastGlobal
Linkedin ► http://www.linkedin.com/company/invast
Invast ► http://www.invast.com.au
Google+ ► https://plus.google.com/+InvastAu/
005 Essay Example Sample Summary Papers 248300Becky Gilbert
The United Nations plays an important role in mediating conflicts between countries to help reduce threats of military force and find resolutions or compromises. When economic and trade relationships determine power and status between nations, disputes are more likely to occur. The UN works to open diplomatic discussions and encourage cooperation over issues relating to security, human rights, environmental protection, and international law. By bringing countries together and facilitating agreements, the organization aims to promote global stability and prevent severe conflicts from escalating uncontrollably.
Asian Coal Benchmarks and Risk Management Reportkasper1
Asia is the world’s biggest coal market and its risk management mechanisms are rapidly adapting to reflect this. The Asian coal trading market is changing fast. With this shift has come an evolution of market dynamics, trading options and benchmark indices.
In this Report we will take a closer look at the drivers of the changes in the global and Asian Coal Trading Markets. The different coal price benchmarks in the Atlantic and the Asian pacific regions. The close relationship between these benchmarks and the evolution of coal derivatives trading in Asia. The working of derivative instruments like Swaps and futures.
This document is the introduction and plan of Adam Smith's seminal work "The Wealth of Nations". It discusses how the annual labor of a nation supplies it with necessities and conveniences, which depends on two factors: the skill and productivity of the labor, and the proportion of people employed in useful labor versus not useful labor. The abundance or scantiness of a nation's supply seems to depend more on the skill of its labor than the proportion of people working.
This document is an excerpt from Adam Smith's classic work The Wealth of Nations. It discusses the division of labor as the greatest improvement to productive powers. The division of labor is most evident in small manufactures where all workers can be observed together, whereas in large manufactures different branches employ so many workers they cannot be observed together. Smith uses the example of pin manufacturing to show how the division of labor increases output and skill.
China has the largest mining and mineral processing industry in the world and mining development has contributed greatly to China’s rapid economic and social development over the past 30 years1. Yet, with the social unrest and conflict regarding the development of resources in China, as in many countries around the world, the industry must also demonstrate that it has a ‘social licence to operate’ among communities that are close to operations and within society more broadly. This report aims to bring the voice of the citizens of China, on whose behalf China’s mineral and energy resources are managed, more clearly into a conversation about the role of the mining industry in Chinese society.
Report: Benefits of Natural Gas Production & Exports for US Small BusinessesMarcellus Drilling News
A new report issued by the Small Business & Entrepreneurship Council which looks at the period 2005-2010 and the rocket growth in jobs and new small businesses created by shale drilling in states like OH, PA and WV--three of the ten states highlighted in the report. It also looks forward to the opportunity for small businesses should the U.S. start to export natural gas.
This document provides a market report on the office, retail, hotel, and serviced apartment markets in Ho Chi Minh City's central business district (CBD) for February 2015. It summarizes the following:
- Office leasing activity was slow in February due to the Lunar New Year holidays. Grade A office rents increased slightly while Grade B rents remained stable.
- The retail sector saw no new supply or entries, with retail podium rents remaining the lowest. Low retail consumption and increasing online shopping will continue to challenge the retail sector.
- Tables and maps present data on occupancy rates, rents, and other metrics for major buildings in each sector.
Pin For Later Mla Research Paper Format, Mla ResearcEmma Burke
Here are two key comparisons between the songs "Tombstone Blues" and "Desolation Row":
- Style: "Tombstone Blues" has a bluesy, rock sound with electric instruments while "Desolation Row" has a more surreal, folk style with acoustic instruments.
- Lyrics: The lyrics of "Tombstone Blues" tell a nonlinear story about various characters and events, similar to Dylan's surreal style in "Desolation Row" which depicts a carnival-like scene populated by obscure historical and literary figures.
- Themes: Both songs use nonlinear narratives and obscure references to historical and fictional figures to explore broad themes of disillusionment with modern society, the struggles
CELTICGOLD is based on the Isle of Man but provides buying and selling services for over 90 countries worldwide.Celticgold is one of very few bullion companies in the world that next to best prices and a fast and secure service provides knowledge for you to become a gold-insider.
Ventana Gold announced a prefeasibility study for its La Bodega gold project in Colombia, estimating average annual production of 347,000 gold equivalent ounces over the first six years at cash costs of $322/oz. The study estimated a pre-tax IRR of 34% and NPV of $807 million for the 14-year mine life project.
Hana Mining announced positive results from metallurgical tests on sulphide material from the Banana zone at its Ghanzi copper project in Botswana. The tests achieved 92.75% copper and 80.58% silver recovery at a concentrate grade of 43.55% copper and 853.57 g/t silver. Molyb
The document is a market report on the office, retail, hotel, and serviced apartment markets in Ho Chi Minh City's central business district in January 2014. It provides an overview and performance data for each sector, including occupancy rates, average rents, recent transactions, and outlook. Key points covered include stable grade A office rents but increased occupancy, positive signs for grade B offices, retail sales growth of 12.6% in 2013, and generally positive market conditions across sectors.
Memorandum Opinion Sysco US Foods Merger / AcquisitionMark Moreno
Americans eat outside of their homes with incredible frequency. The U.S. Department of Commerce, for instance, recently reported, for the first time since it began tracking such data, that Americans spent more money per month at restaurants and bars than in grocery stores. 1 Of course,
Americans eat out at many other places, too-sports arenas, school and workplace cafeterias, hotels and resorts, hospitals, and nursing homes, just to name a few. The foodservice distribution industry supplies food and related products to all of these locations. Foodservice distribution is
big business. In 2013, the market grew to $231 billion. By some estimates, there are over 16, 000 companies that compete in the foodservice distribution marketplace.
The two largest foodservice distribution companies in the country are Defendants Sysco
Corporation ("Sysco") and US Foods, Inc. ("USF"). Both are primarily "broadline" foodservice distributors. As the name implies, a broadline foodservice distributor sells and delivers a "broad" array of food and related products to just about anywhere food is consumed outside the home.
In 2013, Sysco's broadline sales were over 40 billion and USF's were over 20 billion.
Thank you for your interest in our report. To complete your order, please provide the following:
1. Full name
2. Email address
3. Company name
4. Billing address
5. Payment details (credit card number or wire transfer details)
Once I have received this information, I will be able to process your order and provide the report. Please let me know if you have any other questions.
Thank you for your interest in our report. To complete your order, please provide the following additional details:
1. Delivery method: PDF or hard copy
2. Number of users if PDF: Single, 5 users or enterprise license
3. Billing address
4. Payment method: Credit card or wire transfer
5. Credit card details or wire transfer account details
Once I have these details, I can process your order and provide order confirmation and receipt. Please let me know if you need any other information. I'm happy to assist you further.
BusinessLink, the magazine for growing companies, delivers real solutions for today’s innovative business builders. It gives advice, tools and resources to CEOs and owners of small-to-midsize companies as well as new entrepreneurs that help accelerate their growth.
Get BusinessLink magazine delivered to your email inbox every month. Subscribe for only $10 for a year.
Please visit
http://smebusinesslink.com/magazine
Cognitive Market Research provides detailed analysis of electrolyzer market in our recently published report titled, "electrolyzer market 2021" The market study focuses on industry dynamics including driving factors to provide the key elements fueling the current market growth. The report also identifies restraints and opportunities to identify high growth segments involved in the electrolyzer market market. Key industrial factors such as macroeconomic and microeconomic factors are studied in detail with help of PESTEL analysis in order to have a holistic view of factors impacting electrolyzer market market growth across the globe. Market growth is forecasted with the help of complex algorithms such as regression analysis, sentiment analysis of end-users, etc.
This report analyzes the copper smelting market in China. It discusses the size of the market and identifies hot areas based on production and imports across Chinese provinces. It analyzes the top 10 companies in the industry by revenue, market share, and employees. It also examines the market structure and concentration by company type, imports, and region. Key statistics on revenue, production, profits, assets and other metrics are summarized. Disclaimers are included about the accuracy of the information.
005 Essay Example Sample Summary Papers 248300Becky Gilbert
The United Nations plays an important role in mediating conflicts between countries to help reduce threats of military force and find resolutions or compromises. When economic and trade relationships determine power and status between nations, disputes are more likely to occur. The UN works to open diplomatic discussions and encourage cooperation over issues relating to security, human rights, environmental protection, and international law. By bringing countries together and facilitating agreements, the organization aims to promote global stability and prevent severe conflicts from escalating uncontrollably.
Asian Coal Benchmarks and Risk Management Reportkasper1
Asia is the world’s biggest coal market and its risk management mechanisms are rapidly adapting to reflect this. The Asian coal trading market is changing fast. With this shift has come an evolution of market dynamics, trading options and benchmark indices.
In this Report we will take a closer look at the drivers of the changes in the global and Asian Coal Trading Markets. The different coal price benchmarks in the Atlantic and the Asian pacific regions. The close relationship between these benchmarks and the evolution of coal derivatives trading in Asia. The working of derivative instruments like Swaps and futures.
This document is the introduction and plan of Adam Smith's seminal work "The Wealth of Nations". It discusses how the annual labor of a nation supplies it with necessities and conveniences, which depends on two factors: the skill and productivity of the labor, and the proportion of people employed in useful labor versus not useful labor. The abundance or scantiness of a nation's supply seems to depend more on the skill of its labor than the proportion of people working.
This document is an excerpt from Adam Smith's classic work The Wealth of Nations. It discusses the division of labor as the greatest improvement to productive powers. The division of labor is most evident in small manufactures where all workers can be observed together, whereas in large manufactures different branches employ so many workers they cannot be observed together. Smith uses the example of pin manufacturing to show how the division of labor increases output and skill.
China has the largest mining and mineral processing industry in the world and mining development has contributed greatly to China’s rapid economic and social development over the past 30 years1. Yet, with the social unrest and conflict regarding the development of resources in China, as in many countries around the world, the industry must also demonstrate that it has a ‘social licence to operate’ among communities that are close to operations and within society more broadly. This report aims to bring the voice of the citizens of China, on whose behalf China’s mineral and energy resources are managed, more clearly into a conversation about the role of the mining industry in Chinese society.
Report: Benefits of Natural Gas Production & Exports for US Small BusinessesMarcellus Drilling News
A new report issued by the Small Business & Entrepreneurship Council which looks at the period 2005-2010 and the rocket growth in jobs and new small businesses created by shale drilling in states like OH, PA and WV--three of the ten states highlighted in the report. It also looks forward to the opportunity for small businesses should the U.S. start to export natural gas.
This document provides a market report on the office, retail, hotel, and serviced apartment markets in Ho Chi Minh City's central business district (CBD) for February 2015. It summarizes the following:
- Office leasing activity was slow in February due to the Lunar New Year holidays. Grade A office rents increased slightly while Grade B rents remained stable.
- The retail sector saw no new supply or entries, with retail podium rents remaining the lowest. Low retail consumption and increasing online shopping will continue to challenge the retail sector.
- Tables and maps present data on occupancy rates, rents, and other metrics for major buildings in each sector.
Pin For Later Mla Research Paper Format, Mla ResearcEmma Burke
Here are two key comparisons between the songs "Tombstone Blues" and "Desolation Row":
- Style: "Tombstone Blues" has a bluesy, rock sound with electric instruments while "Desolation Row" has a more surreal, folk style with acoustic instruments.
- Lyrics: The lyrics of "Tombstone Blues" tell a nonlinear story about various characters and events, similar to Dylan's surreal style in "Desolation Row" which depicts a carnival-like scene populated by obscure historical and literary figures.
- Themes: Both songs use nonlinear narratives and obscure references to historical and fictional figures to explore broad themes of disillusionment with modern society, the struggles
CELTICGOLD is based on the Isle of Man but provides buying and selling services for over 90 countries worldwide.Celticgold is one of very few bullion companies in the world that next to best prices and a fast and secure service provides knowledge for you to become a gold-insider.
Ventana Gold announced a prefeasibility study for its La Bodega gold project in Colombia, estimating average annual production of 347,000 gold equivalent ounces over the first six years at cash costs of $322/oz. The study estimated a pre-tax IRR of 34% and NPV of $807 million for the 14-year mine life project.
Hana Mining announced positive results from metallurgical tests on sulphide material from the Banana zone at its Ghanzi copper project in Botswana. The tests achieved 92.75% copper and 80.58% silver recovery at a concentrate grade of 43.55% copper and 853.57 g/t silver. Molyb
The document is a market report on the office, retail, hotel, and serviced apartment markets in Ho Chi Minh City's central business district in January 2014. It provides an overview and performance data for each sector, including occupancy rates, average rents, recent transactions, and outlook. Key points covered include stable grade A office rents but increased occupancy, positive signs for grade B offices, retail sales growth of 12.6% in 2013, and generally positive market conditions across sectors.
Memorandum Opinion Sysco US Foods Merger / AcquisitionMark Moreno
Americans eat outside of their homes with incredible frequency. The U.S. Department of Commerce, for instance, recently reported, for the first time since it began tracking such data, that Americans spent more money per month at restaurants and bars than in grocery stores. 1 Of course,
Americans eat out at many other places, too-sports arenas, school and workplace cafeterias, hotels and resorts, hospitals, and nursing homes, just to name a few. The foodservice distribution industry supplies food and related products to all of these locations. Foodservice distribution is
big business. In 2013, the market grew to $231 billion. By some estimates, there are over 16, 000 companies that compete in the foodservice distribution marketplace.
The two largest foodservice distribution companies in the country are Defendants Sysco
Corporation ("Sysco") and US Foods, Inc. ("USF"). Both are primarily "broadline" foodservice distributors. As the name implies, a broadline foodservice distributor sells and delivers a "broad" array of food and related products to just about anywhere food is consumed outside the home.
In 2013, Sysco's broadline sales were over 40 billion and USF's were over 20 billion.
Thank you for your interest in our report. To complete your order, please provide the following:
1. Full name
2. Email address
3. Company name
4. Billing address
5. Payment details (credit card number or wire transfer details)
Once I have received this information, I will be able to process your order and provide the report. Please let me know if you have any other questions.
Thank you for your interest in our report. To complete your order, please provide the following additional details:
1. Delivery method: PDF or hard copy
2. Number of users if PDF: Single, 5 users or enterprise license
3. Billing address
4. Payment method: Credit card or wire transfer
5. Credit card details or wire transfer account details
Once I have these details, I can process your order and provide order confirmation and receipt. Please let me know if you need any other information. I'm happy to assist you further.
BusinessLink, the magazine for growing companies, delivers real solutions for today’s innovative business builders. It gives advice, tools and resources to CEOs and owners of small-to-midsize companies as well as new entrepreneurs that help accelerate their growth.
Get BusinessLink magazine delivered to your email inbox every month. Subscribe for only $10 for a year.
Please visit
http://smebusinesslink.com/magazine
Cognitive Market Research provides detailed analysis of electrolyzer market in our recently published report titled, "electrolyzer market 2021" The market study focuses on industry dynamics including driving factors to provide the key elements fueling the current market growth. The report also identifies restraints and opportunities to identify high growth segments involved in the electrolyzer market market. Key industrial factors such as macroeconomic and microeconomic factors are studied in detail with help of PESTEL analysis in order to have a holistic view of factors impacting electrolyzer market market growth across the globe. Market growth is forecasted with the help of complex algorithms such as regression analysis, sentiment analysis of end-users, etc.
This report analyzes the copper smelting market in China. It discusses the size of the market and identifies hot areas based on production and imports across Chinese provinces. It analyzes the top 10 companies in the industry by revenue, market share, and employees. It also examines the market structure and concentration by company type, imports, and region. Key statistics on revenue, production, profits, assets and other metrics are summarized. Disclaimers are included about the accuracy of the information.
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting, 8th Canadian Edition by Libby, Hodge, Verified Chapters 1 - 13, Complete Newest Version Solution Manual For Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Ebook Download Stuvia Solution Manual For Financial Accounting 8th Canadian Edition Pdf Solution Manual For Financial Accounting 8th Canadian Edition Pdf Download Stuvia Financial Accounting 8th Canadian Edition Pdf Chapters Download Stuvia Financial Accounting 8th Canadian Edition Ebook Download Stuvia Financial Accounting 8th Canadian Edition Pdf Financial Accounting 8th Canadian Edition Pdf Download Stuvia
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Applying the Global Internal Audit Standards_AIS.pdf
Katondo Street Journal Nov 2015
1. Economic and Financial Commentary Vol. 1, Issue 5 November 2015 Lusaka, Zambia
Yes I said it: Job losses in
the mines may not be such
a bad thing for Zambia
At a time when thousands of miners are threatened with job
losses, this is probably not the kind of headline that the
miners, the labour movement or the politicians would want
to hear.
Full story on page 4.
News on the street
Zimbabwe to ban electric water heaters to save
power: Zimbabwe is to ban the use of electric water
heaters and require all newly built properties to use solar
power, as it tries to tackle big power shortages. Existing
electric heaters - or geysers - will be phased out over the
next five years. This will save up to 400 megawatts of
electricity - equivalent to the output of an electrical
power plant.
IMF cuts global growth forecasts: The International
Monetary Fund cut its global growth forecasts, citing weak
commodity prices and a slowdown in China. The Fund,
whose annual meeting were held in Peru during thes
second week of October 2015, forecast that the world
economy would grow at 3.1 percent this year and by 3.6
percent in 2016. Both new forecasts are 0.2 percentage
point below its July forecast.
Chikwanda to cut budget deficit to 3.8% of GDP: On
9th October, 2015, Zambia's Finance Minister Alexander
Chikwanda presented a K53.1 billion budget for 2016. This
is 14% higher than the 2015 budget of K46.7 billion. The
budget proposes major cuts to non-wage expenditures to
help contain the budget deficit from an estimated 6.9% of
GDP in 2015 to 3.8% of GDP in 2016.
A trinity of deficits: Economics Association of Zambia
President Dr. Chrispin Mpuka has charged that the
country is currently facing a trinity of deficits. Speaking at
the Zambia Institute of Chartered Accountants organised
post-budget discussion on the impact of the national
budget on economic and social development on 9th October
2015, Dr Mpuka said “We have had a budget deficit, we have
had a current account deficit and finally, we have power
deficit. So, there are three deficits that hit us in one year”.
COVER STORY
......................................................................................................................................................................
The Business Highway01
INSIDE THIS ISSUE
Word on the street: Demystifying Katondo Street
My Two Cents: Diversification through industrialisation
Chikwandanomics: The 2016 Budget at a glance
......................................................................................
2. Word From The Editor
I
t is with great pleasure that I present to you the
rebranded Katondo Street Journal – the first under the
partnership with the Bulletin and Record. We are
excited about this partnership which brings mutual benefits
to both institutions.
This edition comes at a time when the Minister of Finance
has just given his 2016 Budget Speech. We have therefore
dedicated a significant portion of this edition to discuss the
ramifications of the 2016 budget on the economy, and you.
We also look at the one of the buzzwords in the budget:
“Diversification, diversification and diversification”. Our
cover story is laced with the diversification theme.
Additionally, Herryman Moono discusses the diversification
story and how it relates to industrialisation and economic
growth.
Since the beginning of the third quarter, Zambia has been
plunged into its worst electricity crisis, with load shedding of
up to 8 hours per day for both households and industry.
Renowned economist Dr. Mushiba Nyamazana estimates
that load shedding will at the minimum cost 16% of Gross
Domestic Product. In this issue, we feature a budding
entrepreneur who is offering alternative energy solutions.
We look forward to your feedback. God bless.
............................................................
Who We Are
Katondo Street Journal (KSJ) is named after Katondo
Street, a thoroughfare in the Central Business
District of Lusaka.
What We Are About
At KSJ, we cover business and financial analytics in
Zambia. We focus on the people, innovations and
ideas behind Zambia's most dynamic and
entrepreneurial companies. We also analyse business
and financial data to inform decision making by
business leaders.
Our tag-line “The Business Highway” provides a fast-
paced route for businesses to showcase, network and
grow.
KSJ's isEconomic & Financial Commentary
distributed to subscribers by e-mail and is now
available on www.ksj.co.zm.
............................................................
Editor-in-Chief:
Aisha Nalishebo
Photography, Production & Distribution:
Humphrey Zimba
Analytics:
Herryman Moono
Special Projects:
Frazier Mulilo
Design:
Xel Creations
Publishing:
Radical Media House
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For advertising and other
enquiries please email:
info@ksj.co.zm
marketing@ksj.co.zm
Aisha Nalishebo
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Katondo Street Journal
The Business Highway 02
3. Cover Story
Why job losses in the mines may not be such a bad thing
A
t a time when thousands of miners are threatened
with job losses, it is probably a lynchable offence to
say that the job losses may not be such a bad thing
for the country. Before I face the guillotine and the wrath of
the Mines Minister Hon. Christopher Yaluma (below, who is
not smiling) and his counterpart at the Ministry of Labour
and Social Security, the unions and the miners themselves,
you need to hear me out.
Let us put the mining job losses into perspective. Of course,
job losses will always be an emotive issue, especially for the
individuals and families directly involved. Glencore
announced in September that it would cut over 4,000 of its
20,000 strong work force at Mopani in Kitwe. With an
output of about 110,000 metric tonnes of copper per
annum, Mopani contributes about 15% of total copper
output in the country. With an average household size of 5,
the loss of over 4,000 jobs will not only affect the miners but
16,000 other people who are their direct dependents.
“… Job losses will always be an emotive
issue, especially for the individuals and
families directly involved.”
However, the losses are inevitable due to lower copper
prices, the infamous load-shedding (which by the way is
making me write furiously before the laptop battery goes
dead as there has been no power for the last few hours) and
the still lingering problem of VAT refunds for exporting
firms.
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Katondo Street Journal
4. The commodity boom in the last decade brought about
increases in the number of jobs in the mining and related
industries. Additionally, a number of previously unskilled or
semi-skilled workers have now become skilled in these
occupations. So a loss of a job in the mining sector is
definitely not the end of the world.
According to the 2012 Labour Force Survey, nearly two-
thirds of the workers in the mining sector were plant and
machine operators (29%), craft and related trades workers
(17%) and elementary occupations (19%). The current boom
in residential and civil construction means that the skills
acquired in the mining sector can be transferred to the
construction and transport sectors. The Ministry of Local
Government and Housing projects a deficit of 3 million
housing units by 2030. Coupled with this, the Road
Development Agency (RDA) recently signed a contract
worth US$493 million with China Henan International
Cooperation Group for the construction and rehabilitation
of 406 km urban roads in the Copperbelt Province, a move
expected to create about 1,000 jobs. I bet you my last 50
Kwacha that foreigners will see these opportunities and take
advantage while we will be fighting with the mining houses
to reinstate the miners.
Our seasoned economic analysts need not only pay attention
to the price of copper at the London Metal Exchange (LME),
but also watch the copper inventories, especially in China,
the world's largest consumer of our chief export, at the
Shanghai Futures Exchange (SHFE). Falling copper
inventory is generally regarded as a positive signal. Copper
moving out of warehouses means that copper supply in the
market is lower when compared to the demand.
Conversely, copper inventory goes up in the warehouses
when supply exceeds demand. Glencore's announced 18-
month closure of some of its operations in Zambia and the
Democratic Republic of Congo (DRC) will obviously reduce
the output and subsequent supply of copper from Africa's
top two largest copper producers. Let's face it: the current
low global demand for copper means that most of our
copper is not being bought anyway or it is being bought and
stock-piled for future use. Evidence suggests that bonded
copper stocks have surged over the last few months.
The constrained supply may bring down the inventories in
the Chinese warehouses. This may just perhaps eventually
increase demand which will push up the price of copper. We
see this happening sooner rather than later. Before we
know it, the prices will be back to the levels we have been
used to lately and the miners will be back in their jobs –
that is if the miners with their newly acquired skills do not
decide to become self-employed working in residential and
civil construction or the transport sector or better yet, form
companies and become suppliers of goods and services to
their former employers.
Yes, I said it! Job losses in the mining sector may not be
such a bad thing. Now I am ready to be lynched
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The Business Highway 04
WORD PLAY
PERUSE TEMPORAL
What you think it means:
“to look over in a casual or cursory manner.”
What it actually means:
“to read (something), typically in a
thorough or careful way”
What you think it means:
“temporary; lasting for only a limited
period of time; not permanent..”
What it actually means:
“relating to worldly as opposed
to spiritual affairs; secular.”
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Katondo Street Journal
5. CHIKWANDANOMICS:
The 2016 Budget at a Glance
Increased Income:
Increased Payments:
Reduced Fiscal Decit:
In billions of Kwacha
Proposed budget
2016, ZMW 42.7
Approved budget
2015, ZMW 36.3
Proposed budget
2016, ZMW 53.1
Approved budget
2015, ZMW 46.7
Proposed budget
2016, ZMW 7.8
Approved budget
2015, ZMW 8.6
Spending
as % of GDP
Revenue as
% of GDP
Deficit as
% of GDP
Domestic
Borrowing
as % of GDP
25.8 20.4 3.8 1.2
2016 Fiscal Targets
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Katondo Street Journal
6. What most of the money will be spent on
Personal emoluments
ZMW19.1bn
9.3% of GDP
Non-financial assets
(including roads)
ZMW10.7bn
5.2% of GDP
Interest payments
ZMW7.2bn
(o/w Eurobonds
ZMW2.6bn)
3.5% of GDP
Where most of the money will come from
Income taxes
ZMW14.3bn
9.3% of GDP
Non-tax revenue
(including mineral royalty)
ZMW10.7bn
5.7% of GDP
Value Added Tax
ZMW10.7bn
4.8% of GDP
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Katondo Street Journal
The good:
US$50 million set aside
for sinking fund
The bad:
PAYE remains
unchanged
The really bad:
Customs duty rate on
cars increased to 30%
What it means What it means What it means
Government has set aside US$50
million for the newly established
sinking fund for servicing the three
Eurobonds.
No change has been made to the exempt
threshold. It remains at ZMW3 000 per
month for the 2016 fiscal year.
It is proposed to increase the customs
duty rate to 30% on all motor vehicles
with the exception of buses, truck,
ambulances, prison vans and hearses.
The government has made one giant
step with regard to prudent debt
management by setting aside some
money that will be used to pay off the
Eurobond debt when it becomes due in
2022, 2024, 2025, 2026 and 2027.
Given the current economic challenges,
we did not anticipate any relief as far as
t h i s t a x t y p e i s c o n c e r n e d a s
government needs every ngwee it can
get to finance the budget. The rising
cost of living means that the real
incomes have been eroded over the last
year.
Aside from grappling with the effects of
the depreciating Kwacha, we will have
to contend with increased customs duty
on motor vehicles. We expect a further
reduction in the importation of motor
vehicles and subsequently reduced
customs duty.
7. My Two Cents...
Diversification through Industrialisation:
Following the recent economic challenges that has faced the
country, the issue of diversification has come back on the
national agenda. In his Budget speech address to the nation
on 9th October 2015, Finance Minister Hon. Alexander
Chikwanda outlined several measures meant to accelerate
the diversification of the economy.
The recognition of the need to diversify Zambia's economy
from its over-dependence on a single industry – Copper
mining - is not new, but has a long history starting with the
UNIP government in the 1970s. For many years since the
drastic fall in Copper prices and the rise in oil prices in the
1970s, the diversification 'song' has been sung by successive
governments – mostly in periods of low copper prices which
lead to reduced forex and subsequent currency depreciation.
Expectedly, the reduction in Copper prices in 2015 which has
led to a massive depreciation of the currency has reignited
the 'diversification song'. Indeed, the current government, as
with successive governments has proposals and ideas for
diversifying the economy to reduce dependency on Copper,
generate new forms of wealth and create new forms of
employment.
Diversification will, however, require a new policy area that
must be enhanced. That policy area is industrialisation.
Diversification cannot be sustained, nor is it feasible,
without growth in industrial capabilities of Zambia.
Zambia's diversification efforts can only be successful if
augmented by industrial development through the
enhancement of small to medium scale manufacturing of
consumption commodities that are currently being
imported.
Does Zambia have reasons to be optimistic about her
industrialisation path? According to a recent study by the
International Growth Centre Zambia, yes. The study finds
positive trends in terms of contribution to GDP growth,
employment, investment and export performance. In
terms of employment, for example, job creation in the
manufacturing sector has increased fourfold from 55,600
people in 2005 to 216,700 people in 2012.
The study particularly noted that Zambia's Non-
Traditional Exports performed very well: these are fast-
growing, directed at regional markets, and there is a small
but growing share of value-added products. Apart from
copper semi-fabricates, these consist of cement, animal
fodder, milling products, essential oils, iron and steel
products, among others. The number of small and medium
firms involved in exporting to the region is also growing.
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The Future of Zambian Growth
By Herryman Moono
The Business Highway07
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Katondo Street Journal
8. The low-hanging fruits for Zambia's industrialisation can be
found in the agro-processing sector. Food and beverages is
the largest component of household consumption in Zambia,
and in most of the region. The rise of the urban middle class
is driving consumption of processed foods and beverages.
Zambia's agricultural potential means that there are very
substantial opportunities for it to meet regional demand if
this potential is matched with investments in agro-
processing.
On the import side, the largest contributors to Zambia's food
imports are fish, dairy, bakery products, prepared fruits and
vegetables, and miscellaneous edible preparations. Who is
seizing these market opportunities? Sadly, mainly South
African producers and, increasingly, Asia and Latin
American ones.
Zambia is receiving increasing levels of foreign and domestic
investment in agricultural production of such products as
soybean, wheat, poultry and sugar. And, Zambia is already a
competitive exporter of vegetables and milling products.
Domestic urban and rural demand for processed foods
nevertheless is increasingly structured around supermarket
retail chains. This requires a tailored strategy which
understands supermarkets' procurement strategies and
design, together with buyers and suppliers, an effective
supplier upgrading programme. This is important both for
competing with imports and penetrating regional export
markets.
Zambia's low-cost production basis for cane sugar and
soybean makes downstream processors potentially
competitive in the domestic and regional markets for sugar
confectionery and other sugar-based products, animal
fodder and broiler meat. The pricing strategies of upstream
firms involved in sugar and animal feed production however
have hampered the competitiveness of local downstream
industries. Addressing competition concerns in the
upstream stages of the value chain is therefore a priority for
Zambia's agro-processing industrial strategy. Moreover,
reducing transport costs to regional urban centres could
turn Zambia into the regional supply hub for animal fodder,
meeting the burgeoning inputs demand from the poultry
industry across the region.
The Zambian government's industrial strategy has
prioritised engineering products. The study highlights that
the mining sector can open up a sizeable market for Zambian
manufacturers. Currently, local sourcing of equipment and
other mining inputs is low. However, the DRC offers
Zambian suppliers an opportunity to reach larger economies
of scale for activities which have been unviable for the
domestic market (for example re-conditioning of
equipment). Already, re-exports of mining equipment to the
DRC figure among Zambia's top export products. The other
key regional partner in this regard is South Africa, which is
the hub for mining-related capital equipment and services
to the region. In designing its local content policy, Zambia
should consider leveraging cooperation with the region,
and in particular, with South Africa, tapping into its
capabilities and competences, and the DRC, which could
turn Zambia into a sub-regional hub for higher value added
activities. The region should feature in a broader strategy
for the engineering sector which aims, among others, at
increasing sub-contracting opportunities and relaxing
skills and capital constraints.
In conclusion, to advance the industrialisation
agenda, three key issues deserve attention:
Linkage development strategies are critical to facilitate
entry and competitiveness into the mining and
supermarkets value chains. Government needs to
tackle factors such as access to credit and a national
quality assurance system, and work with buyers and
suppliers to develop effective supplier development
programmes.
The region has become the largest destination market
for Zambia's non-traditional exports. Free Trade Areas
under COMESA and SADC are important, but it is
time to focus on regional industrial cooperation
programmes that strengthen Zambia's position in the
regional market.
Low levels of competition undermine the
competitiveness of downstream activities. There is
evidence that this is a problem in the cement, sugar,
and poultry industries. Industrial policy needs to
ensure the competitive supply of raw materials and
intermediate inputs to downstream and diversified
activities.
Zambia's industrialisation is increasingly gaining
momentum, on the back of renewed policy efforts and
investment from domestic, regional and global players. In
this context, it is particularly important for Zambia's
industrial strategy to focus on implementation and develop
effective upgrading programmes, adopt a regional
perspective, and deal with difficult competition issues.
Herryman is the Secretary General of the Economics
Association of Zambia
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The Business Highway 08
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Katondo Street Journal
9. Entrepreneur of the Month
Rodney Hammad Chibeka
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The Business Highway09
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Katondo Street Journal
Rodney is a budding young entrepreneur behind the Power
Buddy brand of plug-and-go electrical inverters and solar
panels. A web designer by training, Rodney has seen the
opportunity brought about by the country's worst energy
crisis and ventured into providing alternative power
solutions. If you do not like the noise and fumes from
electrical generators, Power Buddy is your solution.
Katondo Street Journal: When did you set up Power
Buddy Zambia Limited?
Rodney Hammad Chibeka: The Company was set up
early 2014 in Chongwe.
KSJ: What exactly does your company do?
RHC: Power Buddy Zambia are energy consultants and
solution providers. By assessing companies and households'
power requirements, we offer solutions to bridge power
outages, based on solar, wind and hybrid in combination
with battery banks. We specialise in off-grid solutions,
whereby ZESCO connections are not present.
KSJ: What motivated you to get into alternative power
sources?
RHC: Power Buddy went into alternative power because of
the challenges for mostly remote and rural areas where
there is no power grid. This got considerably strengthened
by the current power deficit, which will be with us for a
considerable time to come.
KSJ: Are your products locally manufactured or they are
imported? If imported, which country are you importing
from?
RHC: We assemble all our products locally in our
workshop in Chongwe. We do import certain parts - made
to our specifications - from Europe, India and China. For
instance, our batteries come from India, our
charger/inverters come from The Netherlands, while all
solar panels are now manufactured in China.
KSJ: As you mentioned earlier, we also think that this
energy crisis will be with us for a long time and as a country
we will never be the same as we are going to have to reduce
our dependence on hydropower. The Minister of Finance
recently announced measures in the 2016 Budget to
encourage entrepreneurs like you who provide alternative
power solutions. What do you think about the measures?
RHC: The measures as announced in the 2016 budget are
well-intentioned but I am sorry to say are very time-
consuming and are focussed on foreign investors. It will
take at least two years before the first projects will help
mitigate the current issues. This is quite unfortunate, as
there are many short-term opportunities to alleviate the
problems; it is a pity that the government only looks over
the borders while there is substantial expertise available
10. among Zambians. Power Buddy has designed a 1 MW solar
plant which can be installed and connected to the ZESCO
grid in less than 3 months!
KSJ: Really?
RHC: Yes, we have. A dozen or even hundreds of such plants
will make a real difference, and this can be put in place
before the year end. So far the Ministry has not responded to
our proposals. Every day of waiting means another outage...
KSJ: Interesting... Your work is impacting the lives of many
people who do not like gen sets. Where do you see yourselves
five years from now? Ever considered setting up a
manufacturing plant?
RHC: Power Buddy will work tirelessly to
alleviate power problems of companies and
ordinary citizens all over the country. Five
years from now, the power deficit should be
a thing of the past - but without decisive
action now it might take much longer.
Therefore, Power Buddy recommends that
Zambians should take the matter into their
own hands and go off-grid. Our workshop
in Chongwe is growing every day, and there
are plans to build our own plant for the
manufacture of wind turbines, solar
panels, charge controllers and inverters.
We are looking into crowd-sourcing in
order to raise the funding required. Maybe
KSJ can help here?
KSJ: Fat chance, my brother. We are a small start-up
[chuckle]. Where are you found? How do people who want
your products get in touch with you?
RHC: Power Buddy has a workshop in Chongwe, where we
assemble our products and have a display of systems,
including wind turbines and hybrids. For further
enquiries, contact either Rodney or Martin:
Rodney 0953747117 & 0979020024 (Lusaka)
Martin 0955770862 & 0967770860 (Chongwe)
Email: power.buddy.zambia@gmail.com
KSJ: Thanks a lot for talking to us. This is much
appreciated.
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The Business Highway 10
FACTS & STATS:
Imports of electric generating sets and rotary converters (US$'000)
Electric gen-sets are mostly imported from China, India and South Africa. There was a general increase in imports of gensets
from US$57 million in 2013 to US$99 million in 2014. Following the electricity crisis which started mid-2015, the demand for
gensets has increased even further.
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Katondo Street Journal
11. Demystifying Katondo Street
Word on the Street:
“You look familiar”, said John Banda (not his real name),
when I met him on Katondo Street. He looked like someone I
had met before, but I could not place him.
Through a third party, I had arranged to meet John to give
me the lowdown on the history of Katondo Street. We had
arranged to meet in front of the Lusaka City Council library.
No exact time was agreed upon because, as he said, he was
not exactly sure what my motive was. He wasn't there when I
arrived, armed with just pen and paper. I called him on his
mobile phone and he said he was doing some transactions at
Farmers' House, so he would meet me in the next 15
minutes. As I waited for him, I couldn't help but notice the
predatory alertness of the men idling around Katondo
Street. Being a newbie, the suspicious stares made me
uneasy but I was determined to wait it out and get my
interview and demystify perhaps the most infamous street
in Zambia, known for shady fast dealings.
Some old men who knew my contact came and asked me
what exactly I wanted and they even tried to help me by
divulging some answers. However each one left abruptly
during their story-telling and stood at a distance. If I hadn't
had my annual shower that morning, I would have thought
they couldn't stand my body odour!
After ten minutes, John came – he was five minutes early.
John is a seasoned second generation veteran trader who has
been on Katondo Street since 1969. His family was originally
from Kenya. After the usual exchange of pleasantries, I
asked him why everyone looked at me suspiciously. He told
me they were trying to figure me out,
whether I was buying or selling, or
whether I was a government 'spy'.
History of Katondo Street
Trading on Katondo Street actually
started in the middle of Cairo Road, the
main street in the Central Business
District of the City of Lusaka, as a curios
market.
“The curios business started about the
time the trees currently lining the
middle of Cairo Road were just knee-
high” John quipped as he stooped and
put his right hand on his knee to depict
the height of the trees. The trees lining
Cairo Road are now over 10 metres tall.
Curios were imported from East Africa, mostly from
Kenya. Tourists would flock to the middle of Cairo Road
and pay for the curios in foreign currencies. The curio
traders amassed enough foreign currencies which they
started selling to the Indian traders who needed it to
finance their imports. Due to foreign exchange restrictions
at the time, most of the traders slowly abandoned the
curios business and went into the more lucrative foreign
currency exchange market. This was the birth of the
foreign currency 'black market', as it came to be known. As
they were trading illegally, the traders were 'chased' from
Cairo Road. So they moved to Lusaka Hotel. Due to the
continued 'battles' with the authorities, they later moved to
Kulima Tower, Stanley Bar and presently, they now occupy
the whole stretch of Katondo Street. The foreign currency
business thrived for decades until the liberalisation of the
foreign currency market around 1994. This effectively got
most of the traders out of business. Due to their resilience,
the traders evolved and began trading in other
commodities such as cars, phones, cameras and laptops.
“You said you have been on Katondo Street since 1969.
Why that long?” I asked, as some of the people I talked to
earlier came back and were trying to listen to our
conversation.
John explained that Katondo Street can be likened to a
commodities exchange market. Most of the traders do not
do their actual transactions from Katondo Street, it just
serves as a meeting point for transactions and for business
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Katondo Street Journal
12. The Business Highway 12
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Katondo Street Journal
networking. Over the years, he has built a large network of
clients who, when they want to do business with him, would
come to the street. If he does not come to Katondo Street, he
would lose out on a lot of business and contacts. That is why
he has been there that long, and feels part of the street. He
has no kind words for the city authorities who put up a street
sign that says “Katondo Road” instead of Katondo Street.
If you want to sell your laptop, for example, you approach
one of the traders from Katondo Street who will find buyers
for you. If, on the other hand, you want to buy something,
anything, you would go to Katondo Street. While the
relationships built with the traders are based on trust,
trickery still exists especially with the newcomers. The older
folk like John dare not risk losing their hard-earned
reputation and business contacts. As it is from Katondo
Street that they have managed to finance their children's
education, feed their families and diversify into other
businesses. Most of the traders lining the street have
businesses elsewhere: they trade in motor vehicle spare
parts, buying and selling of maize during the maize
marketing season, etc. With no traders association, everyone
trades individually.
“Now I remember you”, John said, with a twinkle in his eyes,
after I finally jolted his memory by asking about a man who
used to trade on Katondo Street some time back. “You came
here once to play pool with your Ethiopian friend. About 10
years ago”. I could not believe how sharp the man's memory
was. I last went to Katondo Street in 2005 or 2006, and, true
to his word, I did play pool for a couple of hours, with a friend
of mine who is Zambian but is always mistaken for an
Ethiopian. To vividly remember a single incident that
happened ten years ago is an amazing feat, a desirable trait
for traders on Katondo Street.
Parallels with Wall Street
The history of Katondo Street has characteristics that
mirror that of Wall Street in New York, USA when 24 men
met under a buttonwood tree in 1792 and banded together
through the 'Buttonwood Agreement' to control the
securities trading. These men in New York had founded
what was to become the New York Stock Exchange in 1817
which is located at 11 Wall Street in Lower Manhattan,
New York. The New York Stock Exchange has become the
world's largest stock exchange by market capitalization
with average daily trading approximately US$169 billion
in 2013.
Unlike Wall Street, Katondo Street has neither cartels nor
traders association – everyone trades individually. It
remains an informal commodities exchange market. Had
the traders on Katondo Street been as organized as those
24 men on Wall Street, things may have been different by
now. We would perhaps have had a thriving and private-
sector-led Katondo Commodities Exchange, way before the
Lusaka Stock Exchange came into existence in 1994, as
well as banks and other financial intermediaries formed by
the resilient street-smart and business savvy individuals
who line Katondo Street.
BOMA IYANGANEPO
HOUSE FOR RENT
I am not sure if I would be interested
in renting a house with three bad rooms...
Boma iyanganepo.