By BUUMBA CHIMBULUTTHE mining industry contributed K25 billion to the national treasury in 2020, according to the Zambia Extractive Industries Transparency Initiative (ZEITI) report released this month.ZEITI’s thirteenth annual report looks at each and every kwacha which Zambia’s Government received from the mining industry between 1 January 2020 and 31 December 2020, and provides a company-by-company breakdown of financial contributions to the economy. The report indicates that almost one third (31.4 percent) of all Government revenues in 2020 came from the mining sector, amounting to K25 billion, including tax and non-tax payments received by Government agencies and dividends received by the Ministry of Finance. “A whopping 79.5 percent of the country’s exports came from mining, with the sector remaining Zambia’s major productive industry. “A total of 11.1 percent of Zambia’s Gross Domestic Product (GDP) came from mining, and two percent of the country’s national employment,” the report indicated.The report states that five companies contributed approximately 69.4 percent to […]
MINING COMPANIES CONTRIBUTE K25BN TO TREASURY
