Moody's Investors Service (Moody's) has today downgraded Zambia's long-term issuer rating to B3 from B2 and changed the outlook to negative from stable.

Government has signed a memorandum of understanding (MoU) for a loan agreement with the African Development Bank (ADB) amounting to US$125 million.

Zambia's central bank left its policy rate steady at 15.5 percent, saying inflation is expected to decelerate sharply from the third quarter onwards as the impact of past monetary policy tightening and measures to reduce volatility in the exchange rate of the kwacha are starting to take effect.

Atlas Mara Limited ("Atlas Mara" or the "Company"), the sub-Saharan African financial services group, is pleased to announce that, following the statement in its Q3 results released on 29 October 2015 that it was in advanced discussions, it has now reached an agreement to acquire 100% of Finance Bank of Zambia Plc ("FBZ"), subject to selected conditions precedent and requisite regulatory approvals.