Connect with:
Saturday / May 23.
logo
mobile-logo
HomeStandard Blog Whole Post (Page 10)
Mining

Mumbwa Town Council Chairperson, Charlie Masumo, has voiced serious concerns over the operations of Australian-based company Westate Resources Limited in Mumbwa District, citing significant disruption to local small-scale and artisanal gold miners.

 In an exclusive interview with the Zambian Business Times (ZBT), Masumo explained that although Westate Resources Limited is not yet fully operational, its presence has already adversely impacted numerous local mining license holders, threatening over 1, 500 local gold miners.

 “When someone acquires an artisanal mining license, it is expected that they can engage and negotiate with large-scale mining companies, agreeing on benefit-sharing arrangements. However, Westate Resources Limited, which is not yet fully operational, has come in and disrupted the activities of our local artisanal miners,” Masumo stated.

He called on the government to urgently intervene and resolve the situation. “Other companies are willing to work collaboratively with local people, but with Westate Resources Limited, there is uncertainty about its origins and ownership. Their actions have really disturbed the operations of our artisanal miners,” he added.

According to Masumo, Westate Resources Limited claims to possess a license that covers the entire mining area, including zones allocated to local miners. The company has reportedly brought in police officers to enforce its claims, creating an atmosphere of intimidation.

“Where there are police officers, there is no peace,” Masumo remarked, noting that the affected areas include both Matala and Luili within the Shakumbila Chiefdom. he told ZBT that nearly all artisanal mining license holders in the area have been impacted, with 30 cooperatives, each comprising around 50 members, resulting in approximately 1,500 local miners affected by the company’s activities.

Masumo expressed concern about the lack of transparency surrounding Westate’s ownership and intentions, warning that the government must intervene immediately to protect local interests. “Other companies are willing to partner with our people, but Westate Resources has bulldozed in, causing confusion and hardship. No one knows who really owns this company or why they were allowed to operate like this.” He noted that affected miners in the Shakumbila Chiefdom’s Matala and Luili areas and their communities have been left in limbo, with operations at a standstill and livelihoods threatened.

By Zbt Analyst

0 Comments
0 likes

Mumbwa Town Council Chairperson, Charlie Masumo, has

Sport

Fresh financial concerns have emerged at the Football Association of Zambia (FAZ) after auditors disclosed that the association owed K17.3 million in unpaid PAYE obligations as of December 2025, raising the risk of penalties and interest from the Zambia Revenue Authority (ZRA).

According to the 2025 Football Association of Zambia (FAZ) financials, the association has a total balance of K17.3 million in unremitted Pay As You Earn to the Zambia Revenue Authority (ZRA).

A slight increase to 2024’s K16.2 million in funds unremitted to ZRA. The revelation casts a shadow over the financial credibility of FAZ and the capacity of the current leadership to steer a change of the status quo.

The report accessed by the Zambian Business Times for the year ended 2025 indicated, “The association does not consistently remit Pay As You Earn (PAYE) contributions to the Zambia Revenue Authority (ZRA). As of 31st December 2025, the cumulative balance amounted to K17.3 million (K16.2 million, 2024).”

Further, the auditor’s comment (AMG Global) indicates that the association risks huge penalties and interests if no solution is found.

This revelation comes at a time when FAZ has initiated a commercial and marketing committee that consists of prominent business executives such as Mizinga Melu, ABSA Bank CEO, and Jito Kayumba, presidential advisor for finance and investment.

This is in a bid to sanitize its financial woes, using the experts’ knowledge to generate more revenue and sort out its debts.

Whether this works or not, the status quo is an issue of great concern that must be well handled for the sake of the management of the sport that millions of Zambians treasure.

By ZBT Analyst

0 Comments
0 likes

Fresh financial concerns have emerged at the

Sport

Football is followed with so much passion in Zambia. Some commentators have have equalled the hot seat of Football Association of Zambia – FAZ Presidency to that of the political republican President of the republic of Zambia. Today, FAZ President is Keith Mweemba, a Lusaka prominent lawyer with well known links to the Republican President, Hakainde Hichilema is the one in the HOT seat.

The dichotomy of positions these two men occupy today is that one position has in modern history, become so polarising (Republican President) while the other (FAZ President) holds the keys to one unifying factor and endeavour that the country of Zambia has known from 1964 to date. Even the founding and first President of Zambia, Dr. Kenneth Kaunda having ruled for 27 years must have known that football and a good performing senior national football team – known as Chipolopolo or copper bullets, was such a powerful and huge unifying factor for a nation that has some fractured political history during for the formation of the unified nation called Zambia today.

On 6 May, 2026, FAZ announced the appointment of an ad-hoc commercial and marketing advisory committe aimed at what they termed as “strengthening the financial position and broadening revenue streams” for the association responsible for the much loved sport of football. The committee had reputable names from the Zambian business landscape that included ABSA Managing Director Mizinga Shansonga-Melu, President Hichilema’s Advisor for Investments Jito Kayumba, Controversial but prominent Lawyers Lewis Mosho & Milingo Lungu, Prominent Lusaka Businessman Marcus Ascort among the oddly high number of 17 committee members.

The committee also incorporated Marketing & Public Relations heads of key companies in Zambia representing such names as Trade Kings, Kobold Metals, Copperbelt Energy Corporation. Other notable companies represented in the appointments to the FAZ commercial committee were from Zamtel and Konkola Copper Mines, though these two companies profitability is still yet to be convincing going by recent production and financial reports that are publicly available.

As soon as the public announcement was made, and as soon as the congratulations rolled in, questions started being asked around the composition, the chemistry and temperament of the team. One could also not ignore that the numbers of these appointed to the advisory committee were oddly high, 17 is a big number and hardly qualifies to even the biggest board or mastermind groups that have been known in business to be able to achieve oneness of mind, corporation and avoid negative team dynamics from emerging and disrupting the very objective that the commercial committee was set up for.

FAZ is technically insolvent, events it’s own auditors have stated that its current liabilities far exceed it’s current assets and I will delve into the actual numbers below.But again, a review of the FAZ 2025 financial statements also tells the true story behind these appointments. FAZ is technically insolvent and these appointments may be an act of desperation, of casting the net just too wide enough to catch something.

For the year ended 31 December 2025 audited financial statements, FAZ recorded a deficit of over K38.7 million ( about $2 million), meaning their expenses were higher than their revenues and grants by this staggering amount. As if that was not enough, the Association has K17.3 million (almost $1 million) in unpaid taxes to the Zambia Revenue Authority – ZRA. Just with these two financial hurdles, had the association not enjoyed government goodwill, it would be an ideal candidate for winding up actions.

A further look at the financial statements of FAZ shows a gloomy financial and management picture of lack of planning, non-existent strategy, lack of accountability and transparency, over-dependance on government & FIFA subsidies and clear need for a revenue generating and diversification strategy. It’s just that in Zambia, corporate leaders or executives rearly get their reputation soiled by involving themselves in committees that fail to deliver, appointment to such committee are a double edged sword. The state of FAZ will need serious and expert turnaround or crisis managers to be engaged to save the situation.

For those who have had the privilege of watching the Chipolopolo side at their peak in terms of finances, team formation and competitiveness on the continent of Africa, for those who have followed the Chipolopolo African Cup of Nations – Afcon exploits of qualifying to the tournament 18 times and eventually wining the tournament in 2012, one would agree that the senior mens team has brought, perhaps the highest level of national pride and unity, carrying the the hopes and dreams of even the most humble citizens of Zambia.

With the most recent achievements in women football as well as some sparks Zambia national youth football teams have recorded, with the investments in good football infrastructure at Lusaka – Heroes Stadium and Ndola –  Levy Mwanawasa Stadium, Zambians are larger for the return of glory days, for the unifying game of football to return and take its rightful place. it remains to be seen just when and how the financial mess at FAZ will be cleaned out. Will the 17 member commercial and marketing committee be the answer, only time will tell.

About the Author – Donald Mumba is the Managing Director of the Zambian Business Times – ZBT

0 Comments
0 likes

Football is followed with so much passion

Markets

The Zambian Kwacha has recently strengthened to around K18 per US dollar, prompting debate among foreign exchange analysts about whether it can continue appreciating and potentially breach the K15 per dollar rate. The currency’s recent gains have raised questions about whether there is a sustainable target rate, especially since this has come ahead of the August general elections.

 However, economic Experts have warned that the Kwacha remains vulnerable to external shocks, particularly due to Zambia’s reliance on imported products such as petroleum products. Copperbelt-based economist and policy analyst John Ng’andu told the Zambian Business Times (ZBT) that Zambia’s currency is exposed to risks stemming from prolonged global oil market disruptions.

Should geopolitical tensions in the Middle East persist, the country’s import bill for petroleum could rise sharply, increasing demand for the US dollar and placing downward pressure on the Kwacha. “If the Middle East tensions continue, they are likely to weaken our currency directly because Zambia imports petroleum, and higher global prices increase the country’s import bill,” Ng’andu explained.

He further noted that Zambia’s lack of significant export diversification limits foreign currency inflows, leaving the economy particularly susceptible to exchange rate volatility. “Our narrow export base compared to growing import needs makes the Kwacha especially vulnerable,” he added. Ng’andu also warned that a renewed surge in fuel prices could reverse recent progress in reducing inflation. “Fuel is a universal input cost impacting transport, food production, manufacturing, and distribution. Once fuel prices rise, transport and food prices are likely to increase, potentially triggering a resurgence in inflation through cost-push pressures.”

 While the Bank of Zambia has tools at its disposal, such as tightening interest rates or intervening in the foreign exchange market, Ng’andu emphasized that long-term currency stability will require building stronger reserves, diversifying exports, and decreasing reliance on imported fuel.

By Philip Sinkala

0 Comments
0 likes

The Zambian Kwacha has recently strengthened to

Mining

Shuka Minerals Plc, a London-based mining firm, has announced the commencement of exploration activities at the Kabwe Zinc Mine in Zambia, a project with an estimated in-situ value of over US$2 billion.

 The mine was acquired months ago for a reported US$4.5 million through the 100% acquisition of Leopard Exploration and Mining Limited (LEM), providing Shuka with full ownership and operational control of the historic site. Shuka Minerals Plc is dual-listed on the London Stock Exchange AIM market (LSE AIM: SKA) and the Johannesburg Stock Exchange AltX (JSE AltX: SKA).

The company has reaffirmed its confidence in Kabwe’s vast mineral potential, highlighting the strategic value of the acquisition relative to the mine’s resource base. In an earlier exclusive interview with the Zambian Business Times, CEO Richard Lloyd outlined a comprehensive three-phase exploration and development programme for Kabwe Zinc mine.

The plan includes immediate resource confirmation and expansion, concurrent technical studies, and the integration of historical data with modern analysis. The company has now appointed Ox Drilling Limited as the drilling contractor for the Phase 1 programme, which will be executed by Shuka’s Zambian subsidiary, Leopard Exploration and Mining Limited.

The initial campaign, supported by geological consultants GeoQuest Limited, is set to begin in mid-May 2026. It will comprise approximately 2,000 metres of diamond drilling, targeting known mineralized zones at depths of 100–500 metres. Results from this phase, combined with ongoing geophysical surveys and surface sampling, will inform the broader 10,000-metre Phase 2 programme and a subsequent JORC resource and reserves upgrade later in 2026.

This marks the first resource drilling at Kabwe since the 1970s. Shuka’s 2026 exploration objective is to increase the existing resource base  currently 6.8Mt grading 13.3% zinc and 3.3% lead, with an estimated value of US$4 billion—by 50%. The programme also aims to enhance understanding of by-product metals, including silver, vanadium, germanium, and gallium, which may present significant additional value.

“Our programme is designed to consolidate and upgrade geological models and the resource base, while also testing less-defined areas and better understanding valuable by-products,” said Lloyd. “Some of these by-products could, based on historic data, become significant mines in their own right.” With grades of up to 43% zinc and historical production averaging 25%, Kabwe is recognized as one of the world’s richest zinc deposits.

Since production began in 1904, over 14.56 million tonnes of ore have been extracted. The mine retains a resource base of 5.723Mt—including 700,000 tonnes of zinc and 100,000 tonnes of lead—with a current value exceeding US$2 billion

By Tyndale Muchiya

0 Comments
0 likes

Shuka Minerals Plc, a London-based mining firm,

Companies

Economic expert, Naylor Kopakopa has described the Citizens Economic Empowerment Commission (CEEC) as a fundamental failure that must be dissolved immediately to save public resources from being siphoned through a broken lending system.

A check by the Zambian Business Times – ZBT, in the latest Auditor General’s report on parastatal bodies had exposed a staggering scandal where the commission’s non-performing loans have reached an unbelievable rate of 92% to 97%.

Speaking in an exclusive interview with Zambian Business Times – ZBT, Kopakopa stated that the commission is effectively denying legitimate citizens access to capital by failing to recover funds from a select few.

“If 92% to 97% of people are not repaying the loan, it means that you are denying the people in the queue the opportunity to get that same money,” he said.

 Kopakopa added that the government must abandon the entire idea of the CEEC if the deep-rooted reasons for this failure are found to be insurmountable.

 However, some stakeholders have also raised serious questions about whether the commission has become a vehicle for empowering politically connected individuals. “It could be that those who are politically connected are not being pursued as much, and if they are the majority, the consequence is that you have 90-something percent of the loans not being serviced,” he said.

Kopakopa questioned the integrity of those managing the commission, asking if they have the genuine will to do the right thing or if they are deriving indirect benefits from the current state of chaos.

 Meanwhile, he observed that while private microfinance firms manage to recover loans effectively despite charging higher interest rates, the state-run CEEC has allowed taxpayers’ money to vanish without consequence.

 “It could be political interference or just a civil service mentality where no one has the interest of the business at hand, and as long as they are paid, they don’t care about the recovery,” said Kopakopa.

He further argued that the commission has provided no incentive or reason for borrowers to pay back, as there has been just nothing done to those who have defaulted. Kopakopa emphasized that the scale of the loss is a direct indictment of the government’s management of public funds, noting that if 95% of 1 billion Kwacha fund is not being saved, the loss to the citizen is huge.

 He added that the only logical step is to find out why the commission is performing so poorly and, if resources cannot fix it, dissolve the CEEC or transform it into a professional, private entity to protect the Zambian tax payer.

By Philip Sinkala

0 Comments
0 likes

Economic expert, Naylor Kopakopa has described the

Agribusiness, Tech

In a major step toward modernizing regional trade, the Zambia Electronic Single Window (ZeSW) platform has become a cornerstone of the country’s 2026 digital transformation agenda, helping to eliminate many of the bureaucratic obstacles that long plagued cross-border commerce.

 In an interview with the Zambian Business Times (ZBT), Southern Cross Borders Association (SCBA) Secretary General Jacob Makambwe said the platform is functioning well and has significantly streamlined border processes.

 “It has always been working and it has actually helped to reduce congestion at the borders,” Makambwe explained. “Instead of having multiple agents from different ministries, we now have a limited number—about six agencies—at the border.” He highlighted that traders can now complete transactions at fewer points. “You could do your processing with ZRA for export permits, and they are also handling other issues,” Makambwe said.

He added that the Zambia Revenue Authority’s online clearing system has further increased the Single Window’s effectiveness. “Most services are now available at one point through the portal, reducing the number of lodgments required at the borders.”

 However, Makambwe pointed out that not all services are decentralized. “Certain services are not yet available at the border. You still need to travel to Lusaka for some processes that could easily be handled locally,” he said.

He also urged greater automation to align with best practices in other countries. “In places with more advanced technology, border crossings are fully automated and seamless. We need to encourage similar upgrades to ensure efficient clearance.”

 Despite these improvements, some users say the system falls short of official claims. One trader, speaking to ZBT on condition of anonymity, reported persistent delays in account activation by ZRA. “For you to get an activation code from ZRA, they are slow in responding to emails. Even now, my account isn’t activated,” the trader said, adding that such delays force users back to manual processes. “A lot needs to be done to perfect that system because as it stands, it’s slow and ineffective,” the trader concluded.

 While the ZeSW platform is credited with easing border congestion and simplifying procedures, stakeholders agree that further decentralization, automation, and support are needed to realize its full potential and deliver a seamless experience for trader

By Francine Chibuye

0 Comments
0 likes

In a major step toward modernizing regional

Mining

KoBold Metals, an exploration company backed by billionaires Bill Gates and Sam Altman, has pledged to invest approximately $3 billion in Zambia’s mining sector, marking a milestone with the official groundbreaking of the Mingomba project in Chililabombwe district on the Copperbelt.

The Mingomba mine, valued at $2 billion, is set to become Zambia’s largest copper mining operation. KoBold Metals holds an 80% stake in the mine through a joint venture, while Zambia’s state-owned investment firm, ZCCM Investments Holdings, owns the remaining 20%.

 During the groundbreaking ceremony, Dr. Kurt House, CEO and President of KoBold Metals, highlighted the company’s commitment to revitalizing Zambia’s mining industry. “KoBold Metals has invested about $300 million,” Dr. House stated.

“That investment brought new life to Lubambe and set the stage for our current efforts at Mingomba.” he said the KoBold’s team in Zambia, now comprising over 600 Zambian contractors and employees, has drilled more than 140 kilometers of rock, including the two deepest holes in Zambia’s mining history, nearly three kilometers below the surface.

“Mingomba is among the world’s greatest undeveloped copper deposits and will emerge as one of the leading mines globally,” Dr. House said. he said when fully operational, the Mingomba mine is expected to produce 300,000 metric tonnes of copper per year at an average grade of 5%, ten times the global average. Dr. House further announced that by the end of 2026, KoBold will have invested $600 million in Zambia, making it the largest private American investor in the country to date.

 “By the end of the decade, KoBold’s investments could surpass $3 billion, supporting not only Mingomba but additional projects in Zambia. Mingomba is a cornerstone of the American-Zambian partnership and a pivotal step toward Zambia’s goal of 3 million metric tonnes in annual copper production.” He also emphasized KoBold’s strong ethical and scientific standards, “We are committed to protecting our workers, the community, and the environment. We will always operate within the law and never engage in bribery of any kind.”

The Mingomba project has been hailed as a transformative chapter for Zambia’s mining sector and underscores the country’s position as a premier destination for responsible investment and resource development.

By Tyndale Muchiya

0 Comments
0 likes

KoBold Metals, an exploration company backed by

Lifestyle

RightsCon has exclusively revealed to the Zambian Business Times – ZBT the real and hidden reasons behind the Zambia Government abrupt cancellation of the renowned human rights comferece (RightsCon) that Zambia was to host for the very first time.

ZBT can exclusively reveal that the sudden collapse of the RightsCon 2026 summit in Lusaka was not the for reasons that have been advanced to the general public, but something much more deeper.

Speaking in an exclusive interview with the Zambian Business Times – ZBT regarding the financial fallout, RightsCon Director, Nikki Gladstone confirmed that………

Real reasons behind RightsCon cancellation revealed!

RightsCon has exclusively revealed to the Zambian Business Times – ZBT the real and hidden reasons behind the Zambia Government abrupt cancellation of the renowned human rights comferece (RightsCon) that Zambia was to host for the very first time.

ZBT can exclusively reveal that the sudden collapse of the RightsCon 2026 summit in Lusaka was not the for reasons that have been advanced to the general public, but something much more deeper.

According to the organisers allegations, the cancellation is linked to intense geopolitical pressure from the People’s Republic of China (PRC) over the participation of Taiwanese delegates.

According to the official statement made available to Zambian Business Times – ZBT, RightsCon and host organization Access Now have cited foreign interference as the real reason the global human rights summit will not proceed in Zambia, despite over a year of coordination with local authorities.

“We believe foreign interference is the reason RightsCon 2026 won’t proceed in Zambia or online,” they said.

The statement further revealed that the decision was taken on such short notice that it affected over 2,600 in-person participants from 150 countries who were already set to arrive in the capital for the May event.

Organisers added that on April 27, 2026, just one day after a government press release endorsed the event, the Ministry of Technology and Science (MoTS) made an urgent call alleging that Chinese diplomats were pressuring the Zambian government because of Taiwanese civil society participants.

Speaking in an exclusive interview with the Zambian Business Times – ZBT regarding the financial fallout, RightsCon Director, Nikki Gladstone confirmed that the operational losses are substantial for all stakeholders involved.

“Regarding the financial impact, it’s too early for us to speak on the exact financial loss incurred, but it’s significant for both RightsCon and partners,” said Gladstone.

Meanwhile, the organizers noted that despite a signed MoU and close coordination with multiple ministries since 2024, the government unilaterally announced a postponement via state-owned media on a public holiday without prior consultation.

However, the Ministry of Technology and Science later claimed in a letter sent over WhatsApp that the move was necessitated by a need for disclosure to ensure full alignment with Zambia’s national values.

Organisers further disclosed that they were informally told the event could only proceed if they agreed to moderate specific topics and exclude the Taiwanese community from participating both in-person and online.

“This was our red line, not because we were unwilling to engage, but because the conditions set before us were unacceptable and counter to what RightsCon stands for,” the organizers stated in their official communication.

Efforts by the Zambian Business Times – ZBT to get a comment from Bloggers of Zambia Chief Executive Officer, Richard Mulonga, who heads the entity that was serving as the anchor organization locally, proved futile after three days of inquiries he referred all queries back to the international hosts.

RightsCon and Access Now have expressed disappointment that international participants would not experience the Zambia they had come to know through their extensive planning process.

By Philip Sinkala

0 Comments
0 likes

RightsCon has exclusively revealed to the Zambian

Agribusiness

Livingstone Cooperatives Union (LCU) Chairperson, Rwinick Mapanza, has urged the government and stakeholders to aggressively introduce more farmers to garlic farming, arguing that Zambia can and should end its dependence on imported garlic.

 Zambia imported approximately 373,913 kilograms of fresh or chilled garlic valued at US$178,610 in 2023, according to the World Bank’s World Integrated Trade Solution (WITS) database. The majority of these imports came from China, with additional supplies from South Africa and India.

 Despite the country’s favorable land, water, and labor resources, local garlic production remains minimal, prompting calls from agricultural leaders to ramp up domestic cultivation.

 “Zambia is diversifying in agriculture, and garlic is one of the cash crops that can give farmers better income opportunities. What is needed now is to educate farmers on the importance of growing garlic and the value it brings,” Mapanza told the Zambian Business Times (ZBT).

He explained that while maize remains the dominant crop, garlic offers high returns, lower labor requirements when well-managed, and year-round market demand. Many farmers, however, are unfamiliar with garlic production techniques. Historical data from the Fruits and Vegetables Association revealed that Zambia imported more than US$45 million worth of garlic from China over an eight-year period, representing a significant foreign exchange outflow.

 A further check by ZBT confirmed the 2023 import figures, underscoring the persistent gap between local supply and demand. Mapanza emphasized that if farmers receive training in garlic cultivation, irrigation, and storage, Zambia could quickly reverse its reliance on imports. Provinces such as Northern, North-Western, and Western have strong potential for garlic farming.

 “The market for garlic is still wide open and not yet saturated. We should stop importing what we can grow ourselves,” he stressed. If supported, Zambian farmers could earn year-round income from garlic, reducing reliance on a single crop and boosting the country’s agricultural sector.

By Philip Sinkala

0 Comments
0 likes

Livingstone Cooperatives Union (LCU) Chairperson, Rwinick Mapanza,

Contact

Email: info@zambianbusinesstimes.com
Phone: +260 977 754 890

Lusaka office
Plot 127, Along Ngwerere Road, Lusaka, Zambia

Zambian Business Times