Zambia’s Minister of Finance, Situmbeko Musotokwane, has announced that the government has introduced new regulations allowing mining companies to pay taxes so that the funds can be used to repay loans provided by China and the United States.

Musotokwane said the new rules are intended to ensure that revenue from mining contributes to development projects and supports the country’s economic growth.

According to Musotokwane, the government aims to make sure that funds from the mining sector are used responsibly and in line with national priorities, while also strengthening co-operation with the countries providing financial support.

Journalist Ziyenela Zimba said this move will help ensure that mining companies contribute more to the country and that the funds will be put to good use in national development projects.

–ChannelAfrica–