ProTender

"Forget seizing the Moment, Seize the Opportunity - Tim Fargo

FOR IMMEDIATE RELEASE

ProTender Announces New Management Structure

Lusaka, Zambia – November 26, 2024 – ProTender, a leading global tendering consultancy, is pleased to announce the successful transition to new management, marking an exciting new chapter in the company's growth and development.

As of November 26, 2024, the new management team, led by Mr. Hasan Mohamed (BSc QS, MSc. PM, Tendering Expert), has assumed responsibility for the strategic direction and operations of ProTender. This transition follows the rebranding of Tender Alert 365 to ProTender, reflecting the company's expanded services and commitment to delivering exceptional tendering solutions.

Under the new management, ProTender will continue to provide expert guidance, innovative solutions, and unparalleled customer service to clients worldwide. The company remains dedicated to empowering businesses to succeed in competitive markets through tailored tendering strategies and support.

"We are excited to embark on this new journey as ProTender," said Mr. Hasan Mohamed, CEO. "Our team is committed to building on the company's strong foundation, driving growth, and delivering exceptional value to our clients."

For more information about ProTender and its services, please visit (link unavailable)

About ProTender:

ProTender is a global tendering consultancy providing expert guidance, innovative solutions, and unparalleled customer service to clients worldwide.

IT WOULD BE WISHFUL THINKING FOR DEVELOPING COUNTRIES TO EXPECT FORMER COLONIAL MASTERS TO FUND INDUSTRIALIZATION OF FOMER COLONIES, A THING THEY DID NOT DO WHEN THEY WHERE IN CHARGE.

BOZ DECISION TO RAISE STATUTORY RESERVE RATIO JUSTIFIED

By Balewa Zyuulu

Economist Kampamba Shula says although it seems harsh, the decision by the Bank of Zambia-BOZ-to increase the statutory reserve ratio on both local and foreign currency deposits by nine percentage points to 26 percent from 17 percent is necessary.

The Bank of Zambia has for the third time in a short period, revised the statutory reserve ratio on both local and foreign currency deposits, with the current adjustment, effective from February 5, 2024, increasing it by nine percentage points from 17 percent to 26 percent.

Commenting on this development, Mr Kampamba says the increase in the statutory reserve ratio is a strategic move to manage liquidity, regulate credit expansion, and enhance overall economic resilience.

Mr Shula argues that while the decision may pose initial challenges for financial institutions and businesses, the long-term benefits in terms of economic stability and growth justifies the central bank’s approach.

He explains that this move is expected to aid the country in navigating economic uncertainties and promoting a sustainable financial framework by addressing the speculative effects on the foreign exchange rate market, which have been contributing to extensive pressure on the local currency.

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