Zambian Revenue Authority Meets $2.5 Billion Target by November

The Zambia Revenue Authority met its annual collection target of $2.5 billion within 11 months, said Wisdom Nekairo, commissioner general of the agency.

“At the end of November, we had already reached the projected amount for the year as set out for us by the government,” Nekairo said in a phone interview today from Lusaka, the capital.

Revenue was collected from various industries including the southern African country’s mines, which account for more than 70 percent of its foreign-exchange receipts.

“The mines contributed to the collection in a big way,” Nekairo said. “We will only know which sector contributed a particular amount after examining them all.”

Zambia is Africa’s top copper producer and expects to produce more than 600,000 metric tons of the metal this year.

To contact the reporter on this story: Anthony Mukwita in Lusaka via Johannesburg at pmrichardson@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net.

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