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The Zambia Institute of Chartered Accountants (ZICA), in partnership with the Association of Chartered and Certified Accountants (ACCA) and Chartered Institute of Management Accountants (CIMA), hosted its annual business conference in Livingstone which brought together industry leaders and experts to discuss critical issues facing businesses in Zambia.

Themed “Business Success Beyond Today: Embracing Innovation, Sustainability, and Excellence,” the conference aimed to foster collaboration, knowledge sharing, and innovative solutions to drive Zambia’s economic growth and prosperity.

Speaking during the opening of the conference monitored by the Zambian Business Times – ZBT, ZICA President, Yande Siame Mwenye, emphasized the importance of innovation, sustainability, and excellence in driving business growth and long-term viability.

Mwenye stressed the need for accountants to adapt to changing technological landscapes and prioritize environmental sustainability.

She explained that the 2024 theme of the conference, “Business success beyond today: embracing innovation, sustainability, and excellence,” aligned with the objectives of the 8th National Development Plan, focusing on creating an environment conducive to entrepreneurship and innovation.

“In a world that is rapidly evolving, the need for innovation has never been more critical. As accountants, gone are the days when were just number crunchers sitting in the back office; we are strategic business partners, guiding organizations through the complexities of the modern financial landscape.”

“In addition, promotion of green growth, safeguarding of the environment and natural resources, enhancing climate change mitigation and adaptation, as well as strengthening disaster risk reduction cannot be over-emphasized.”

“As a nation, we are experiencing an El Nino induced drought as a result of climate change and as a further consequence to that an Energy Crisis, therefore the global push towards sustainable practices is not just a trend; it is a necessity. As stewards of financial integrity, we have a responsibility to promote and implement sustainable practices within our organizations and communities. This involves not only environmental sustainability but also social and economic sustainability. By doing so, we contribute to a better future for all, ensuring that our actions today do not compromise the ability of future generations to meet their needs.” She remarked.

Meanwhile, Southern Province Minister, Credo Nanjuwa, commended ZICA for adopting international sustainability standards and emphasized the government’s commitment to supporting sustainability initiatives.

The Annual Business Conference provided a platform for insightful discussions, collaborative efforts, and networking opportunities, aiming to drive positive change and innovation in the business landscape.

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The Zambia Institute of Chartered Accountants (ZICA),

Mining

Zambia’s cement industry has continued recording a surge in production with recent production figures indicating an increase of about 30% in output.

According to the 2024 Emeralds and Industrial Minerals Production report obtained by the Zambian Business Times – ZBT, cement production has surged by 510,100 metric tons from January to August 2024 compared to the same period last year.

During this period, Zambia’s cement production reached an impressive 2,123,069 metric tons, marking a significant rise from 1,612,927 metric tons produced during the corresponding period in the previous year.

This surge in cement production has been attributed to notable investments in infrastructure projects such as the Lusaka-Ndola dual carriageway.

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Zambia’s cement industry has continued recording a

Companies

For a 30-year-old Erick Phiri, a simple bottle of Coca-Cola has transformed his life and propelled his business dreams forward.

Erick, a father of one from Solwezi, the capital of the North-Western Province, invested in a 300ml glass bottle of Coca-Cola one ordinary day, never imagining that this small act would win him K20,000 through Coca-Cola Beverages Zambia’s ‘Wina Kapendelo Ka Coke’ promotion.

“I was in shock when I received the call that I had won K20,000,” Erick recalled. “I thought about all the things I could now achieve with this prize, and the first thing that came to mind was my business.”

As a dedicated businessman, Erick already operated a mobile money booth in Solwezi, but like many entrepreneurs, he was dreaming bigger.

Thanks to his Coca-Cola win, he’s turned that dream into reality by opening a second mobile money booth, expanding his reach and customer base. The prize also allowed him to invest in his rice-selling business, further diversifying his income.

“This promotion has changed everything for me,” Erick said with gratitude. “It came at the perfect time. I’ve grown my business, increased my income, and provided more for my family.

Coca-Cola is making a difference for people like me, helping us take that next step forward.”

Faith Nehanda, Senior Franchise Marketing Manager at Coca-Cola Beverages Zambia, is proud of the promotion’s impact.

“Coca-Cola has always been about refreshing people’s lives, but with the ‘Wina Kapendelo Ka Coke’ promotion, we’re going beyond refreshment—helping empower local entrepreneurs like Erick to reach new heights. It’s gratifying to see how a simple purchase of a Coca-Cola can spark such positive change.”

Erick’s story is a shining example of how one win can transform the future of a small business owner. Thanks to Coca-Cola’s support, his entrepreneurial journey has taken a major leap, turning a casual purchase into a significant business opportunity.

Encouraging others to follow in his footsteps, Erick urges fellow Zambians to participate in the promotion: “If you’re buying Coca-Cola, Fanta, or Sprite, you never know – you could be the next winner. It’s worth trying and could change your life like mine.”

Coca-Cola’s ‘Wina Kapendelo Ka Coke’ promotion, which runs until 30 November 2024, has brought joy to winners like Erick across the country. It offers them cash prizes and opportunities to invest in their dreams and build better lives.

As Erick’s success story shows, Coca-Cola Beverages Zambia is refreshing its consumers and empowering local entrepreneurs to thrive.

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For a 30-year-old Erick Phiri, a simple

Companies

Aspramed a solution that provides secure telehealth visits for patients from any device or location has collaborated with five key organizations in Zambia to offer remote mental health services to the public.

Through the Aspramed Telehealth App platform, individuals can access essential mental health services remotely, eliminating the need to travel to physical clinics.

Speaking during the signing ceremony which was held in Lusaka and witnessed by the Zambian Business Times, Aspramed Telehealth Co-founder Tommy Adebayo who was represented by his Marketing and Operations Manager David Simushi highlighted the platform’s commitment to data protection and confidentiality, ensuring that clients feel secure and supported.

He said advanced security measures have been implemented to safeguard client data, and anonymous consultations are available to encourage engagement from those concerned about privacy.

The initiative comes at a crucial time as cases of depression, unemployment, poverty, isolation, gender-based violence, and trauma have been on the rise.

The organizations include Zambia Association on Employment for Persons with Disability, Mindset Wellness Center, Counselling Association of Zambia, Global Entrepreneurship Network of Zambia, Adullam Therapy and Achieve Care Hub.

The partnership between Aspramed Telehealth and these organizations marks a significant step toward making mental health services more accessible and reducing stigma in the community and by providing a secure and confidential platform for remote therapy sessions, Aspramed Telehealth is addressing critical mental health challenges and offering much-needed support to those in need.

“Users can access one-on-one therapy sessions without worrying about being seen in public clinics, reducing stigma. Aspramed will prioritize data protection to reassure clients about the confidentiality of their information, as well as provide safe, trauma-informed therapy for survivors, ensuring they receive emotional support without fear of judgment.” Explained Simushi.

Aspramed Telehealth has also called on the ministry of Health permanent secretary to allow them deploy the AI Electronic medical record technology in Zambia hospitals once it is developed in 2025. Adebayo said there are currently applying for a grant with the Australian government to build the AI Electronic medical record technology software of which Zambia will be the first African country to benefit from it once it’s developed.

Meanwhile, Ministry of Health Permanent Secretary represented by Dr. Margeret Chibowa who witnessed the signing ceremony commended Aspramed Telehealth and urged more stakeholders to come on board and help destigmatizing mental health services to ensure that individuals in need can access support without fear or shame.

“Things like this will help reduce stigma because a lot of people are very uncomfortable going to visit psychiatrists because not only is it them labeling but also others who see them walking there but that is one of the things that you stakeholders need to help us with to destigmatize mental health services.” She said.

Speaking at the same event, Zambia Association on Employment for persons with Disabilities Director Patience Nyambe said, this intervention will improve access to information as well as health care services by persons with intellectual and developmental disabilities who happen to be one of the marginalized groups in society

Global Entrepreneurship Network of Zambia (GEN ZAMBIA), Acting Managing Director Edwin Zulu said, this collaboration will help enhance mental health promotion among entrepreneurs looking at the current tough economic situation that Zambia is currently facing like the power crisis which is mainly affecting people who are running their own businesses as it is adding to the cost of operation.

Achieve Care Hub, Director Aaron Moono believes that the Aspramed platform will help create jobs for councilors in all works of life who are currently not doing anything.

And Mind space Enterprise Co-founder Victoria Mupinde also added that this partnership with Aspramed will increase access as well as service utilization as far as mental health care is concerned as well as help to stigmatize mental health services in communities as well as the nation at large.

Meanwhile Counseling Association of Zambia National Coordinator Benjamin Gondwe also stated that their collaboration with Aspramed embodies their shared commitment to providing accessible, quality counselling services through advancing research and promoting mental health awareness.

Furthermore, Adullam therapy Founder Dr. Matiya Ndengi added that this partnership with Aspramed will help them reach more people because of the Virtual platform that the Aspramed app offers.

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Aspramed a solution that provides secure telehealth

Mining

Finance Minister Dr. Situmbeko Musokotwane has insisted that the government will go with its consistent target of hitting 3 million tons of annual copper production by 2031 despite all indicators showing that this is yet another target the new dawn administration is set to miss. At average selling prices of US$9,400 per ton, 3 million tons of production would deliver a whooping annual revenue of US$28 billion for Zambia-based copper mines.

Dr. Musokotwane as he presented his fourth budget under the new dawn government, one budget cycle shy of the five for the full five-year term of office, missed yet another opportunity to review this target and issue a more realistic target that is in line with what is obtaining on the ground. In the 2025 budget, the finance minister revealed that copper production had increased by a paltry 6% to hit 350,000 tons for the half year.

In re-stating his basis for insisting on the 3 million tons target by 2031, Dr. Musokotwane stated that the government has taken three strategic steps to revamp the mining industry.

“The first step was to re-open mining companies that were locked up in legal disputes. Through this step, Konkola Copper Mines and Mopani Copper Mines have been revived”, the finance minister stated in his 2025 budget presentation speech to lawmakers. However, analysts say this move was merely a privatization exercise for Mopani Copper Mines due to the government’s failure to raise capital, which saw ZCCM-IH give up control and ownership to International Resources Holdings – IRH.

As for Konkola Copper Mines – KCM, the mining company was merely returned to Vedanta Resources, its erstwhile owner that had been legally fighting the Zambian government which had repossessed the mine through an ill-implemented liquidation process. Again here, counter arguments from analysts and mining experts are that it was a failure to raise capital by ZCCM – IH and the Zambian government that failed to revamp production under state ownership.

The Finance Minister further stated that “the second step was to improve the mining investment climate in our country. This has been achieved and today, mining companies that had planned to leave Zambia, have stayed on and FQM and Lumwana are already implementing huge production expansion projects”.

Additionally, Dr. Musokotwane stated that “the improved investment climate has also resulted in the revival of Shaft 28 in Luanshya, Lubambe Mine has also been saved from closing and is expanding with an initial investment of US $300 million while Kalengwa Mine located at Mufumbwe, will soon come onboard with an initial investment of about US $200 million”.

However, the counter argument to this is that the Zambian government has over-extended its hand by awarding excessive tax and non-tax incentives to the mining sector which has left the treasury depleted, with revenue and forex collections from this sector dropping to levels that have resulted in the steep Kwacha depreciation and lack of liquidity in the economy.

Dr. Musokotwane further stated that “the third and final step was to encourage mineral exploration. Zambia has already launched a country- wide high-resolution aerial geophysical survey and this is going on right now. The survey will generate reliable and updated geological information which will support investment in greenfield projects and expansion of brownfield projects.

As to whether this third step will produce results for Zambia remains a bone of contention. Due to a history of lack of well-protected and safeguarded governance structures, some members of the public as well as experts have told the Zambian Business Times – ZBT that the results of the surveys may never be available to locals but risk being auctioned to outside interests due to some few corrupt elements in government. There are also questions about what controls the government has put in place to prevent the contracted company from keeping some of the most valuable findings to itself and later profiting from it despite being paid to conduct the survey.

All in all, the ambition to reach 3 million tons is desirable for Zambia, but it is the new dawns government’s lack of detailed milestones, and timelines as well as which project/mine will contribute to reach the target that remains fuzzy. ZBT has engaged professional and expert associations such as the Association for Exploration among others which contend that copper mine development takes a longer time horizon. Dr. Musokotwane’s insistence to heed advice and revise the target for 2031 risks adding to the list of the new Dawn government’s unfulfilled promises.

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Finance Minister Dr. Situmbeko Musokotwane has insisted

Lifestyle

Ndola Nutrition Organization (NNO) which is one of the leading humanitarian organizations keen to fighting poverty, food insecurity, clean water deficiency and social injustice in Zambia, has expressed grave concerns about the adverse effects of climate change on food security and water availability in the region.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Ndola Nutrition Executive Director Halumba Munachonga disclosed that as a consequence of reduced food availability, households are being forced to ration their meals, with some families resorting to consuming wild foods such as “Imbula” or impundu.

Munachonga emphasized that climate change has significantly reduced food production and led to a water crisis, affecting both human beings and livestock.

He pointed out that inadequate water has negatively impacted crop, fruit, and vegetable production, as well as the poultry and animal farming sectors, resulting in insuff icient food at the household level.

Munachonga warned of the increased risk of malnutrition and water-related diseases due to limited access to water, as well as the shortage of water at community boreholes.

Furthermore, Munachonga warned of potential conflicts between humans and animals over scarce water resources, particularly in areas near game parks.

He stressed the need for a mindset shift and preparation to adapt and cope with the impact of climate change, advocating for investments in mixed cropping, drought-resistant crops, and water harvesting techniques.

Munachonga has also urged the community to prepare for the worst and emphasized the importance of investing in locally available indigenous seeds and regenerative agricultural practices to mitigate the effects of climate change and ensure food security in the region.

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Ndola Nutrition Organization (NNO) which is one

Markets

In its quest to continue providing a formidable platform for public discourse, BDO Zambia held a high-level 2025 National Budget Analysis where key economic players among them businesses, institutions, and government officials came together to analyze the K217 billion budget.

Speaking at the event attended by the Zambian Business Times (ZBT), BDO Zambia Director of Tax Advisory Services Katrina Mabika said the event was in cognizant of exploring the financial strategies and economic policies that were mentioned in the budget by the Minister of Finance Dr. Situmbeko Musokotwane.

“We extend a special welcome to our colleagues from the Zambia Revenue Authority (ZRA) and the Ministry of Finance and National Planning, your presence emphasizes the importance of collaboration between the public and private sector, and we appreciate your commitment to fostering transparency and dialogue. The 2025 budget is designed to promote economic recovery and inclusive growth, overall the tax measures are meant to support sustainable businesses, while businesses may face higher taxes, there are opportunities in renewable energy and simplified trade, as we discuss the budget let us focus on how we can leverage information to support our businesses and communities,” she said.

Giving a budget overview at the event, BDO Associate Director Kafumu Mbewe echoed that the budget is expected to increase compliance levels and essential stability in the tax sphere in the Country.

“From the income tax side the changes remain the same and continue up to next year, and there is a proposed change of advance income tax at a rate of 15 percent this is on remittances made outside Zambia and exports that are above USD2000, this is one of the major changes has been proposed, we have noted a proposed revision of the cooperate income tax rate on profits that are realized from exports of nontraditional and value addition to copper cathodes, the Company that comes in mind is ZAMEFA their cooperate income tax has been 15 percent up to this year and by next year it will be 20 percent,” he said.

Mbewe also noted the proposed 20 percent presumptive tax increase on operators of public service vehicles, stating that the rate has been constant but the change is meant to equalize the tax with the conditions of the market “Another positive change is the provision for the ZRA Commissioner General to waive penalties that are charged on underestimation, under VAT the major change speaks to smart invoicing, in which the Government is looking at compliance, making it more transparent, and the changes are that any claim that is not issued from the smart invoicing system will not be deductible, unless there is an exemption facilitated by ZRA, this is allowing for stability and predictability in the tax policy.”  

And offering an Economic overview at the event, Ceasor Cheelo Associate Executive Director for Southern African Institute for Policy and Research said the budget is giving optimism and confidence to businesses and households amidst the aftershock of the drought.

“The budget is focused on public debt management and fiscal prudence, the reopening of the mines is giving new hope to the Copperbelt, new discoveries are in the wings, and other mines are expected to be initiated, we have heard about cobalt, and in the budget, there is an allocation towards geo-mapping, so that the backbone of data is owned by the Government and can be used to negotiate licenses as well as mining licenses, social support elements such as the increase in  CDF allocation, give us a birds-eye view of what the Government is thinking,” he said. During the panel discussion, ZRA Director for domestic Tax Shadreck Kachusa highlighted that the Authority had organized several engagements over the smart invoice initiative, and several stakeholders such as the financial sector called on ZRA to allow them more time to get into the system.

“There are sectors that will take a bit of time for them to integrate into the smart invoice system, and one vital thing about taxation is that it should not be a cost to the business, or take a burden that will affect the businesses drastically, so we did put in exemptions to allow everyone to come on board, and as we know we always have to expect bottlenecks, and if we make it mandatory we are allowing it to be punitive regime focused on penalties,” he said.

In his closing remarks, BDO Zambia Managing Partner Douglas Ironside observed that the budget is missing the major aspect of foreign direct investment, which is crucial to amassing substantial growth in the economy “On the smart invoicing initiative, hope ZRA does not focus on a small number of compliant clients, but there is a much larger non-compliant entity, and it is good that the smart invoicing will make it difficult for the noncompliant to operate.”

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In its quest to continue providing a

Tech

Suzyo Mwale is an ambitious and passionate filmmaker who has turned his personal struggles into a powerful source of inspiration for his career in Zambia’s growing film industry. As the founder of Zambezi Rock Studios and a project manager with Lawrence Thomson Films, Suzyo has made a name for himself as a talented writer, director, and editor.

Suzyo’s journey into filmmaking is deeply personal. Born and raised in a family of five, Suzyo is the eldest of three sisters and two brothers. His family has always supported his ambitions, with his mother being his biggest fan and the first person he pitches his creative ideas. However, his path to the film industry wasn’t straightforward.

As a young boy, Suzyo was diagnosed with a serious heart condition that forced him to stop attending school and confined him to a wheelchair. In 2014, he underwent life-saving surgery in India.

It was during this difficult period that Suzyo discovered his passion for film. Watching stories come to life on screen gave him hope and became the spark that ignited his dream of becoming a filmmaker. “Film actually saved my life,” Suzyo recalls. “Seeing how stories came to life on the screen made me feel that anything was possible, and I knew I wanted to be a filmmaker.”

Suzyo attended primary school at South End and completed his secondary education at Munali Boys Secondary School. During high school, he began writing short stories, which he shared with classmates eager to read his work. This early success inspired him to pursue storytelling seriously. His first book, Fly Away, was published and sold a few copies, marking the beginning of his journey as a storyteller.

In 2015, Suzyo transitioned from writing to filmmaking. His first short film, Blunder, earned him the Best Southern Africa Short Film award at the Sotambe Film Festival, a major milestone in his budding career.

Despite these early achievements, Suzyo lacked formal training in filmmaking until he applied to the MultiChoice Talent Factory (MTF). After seeing an advertisement for MTF on television, Suzyo immediately knew this was the opportunity he had been waiting for. He applied for the 2019 cohort but was not selected. Undeterred, he applied again the following year and was accepted.

The MTF experience proved to be life-changing for Suzyo. “Being at MTF meant a lot to me. I emptied my cup, came in with a blank page, and was ready to learn as much as I could. It really changed my life,” he explains. During the program, Suzyo sharpened his skills, learning to think outside the box and push the boundaries of his creativity. One of the highlights was working with SuperSport on live football broadcasts, which exposed him to the teamwork and coordination required in large-scale productions.

Since completing MTF, Suzyo has worked on a variety of projects, including short films, music videos, TV commercials, and high-profile productions. He credits MTF with giving him the skills and confidence to take on major projects, such as the two TV drama series Falls and Nyami that he is currently developing.

Today, Suzyo continues to expand his horizons as a filmmaker. Through his work with Lawrence Thomson Films, he has taken on prestigious projects, including working with Al Jazeera. Suzyo’s journey from self-taught storyteller to award-winning filmmaker and industry leader serves as an inspiration to aspiring creatives in Zambia and beyond.

For Suzyo, film is more than just entertainment. It is a powerful tool for conveying messages and telling captivating stories. His passion, combined with his determination to push the boundaries of his craft, has positioned him as a rising star in Zambia’s creative industry.

With numerous exciting projects on the horizon, Suzyo Mwale is a filmmaker to watch, as he continues to tell powerful stories that resonate both locally and internationally.

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Suzyo Mwale is an ambitious and passionate

Lifestyle

Sioma District Commissioner has attributed the hike in price for a 25kg bag of Roller mealie meal to high transportation cost in the district.

According to the latest ZAMSTATS report for September it showed that Roller mealie meal in Sioma was selling at K360 as compared to other districts like Mongu where it is selling at K190 per 25Kg bag.

Speaking in an exclusive interview with the Zambian Business Times-ZBT, Sioma District Commissioner Mike Kamutumwa said, transportation cost has contributed majorly to the hike in Mealie meal prices in the district as businessmen buy and transport the mealie meal from Mongu and Senanga and then take it to Sioma.

“I am sure the hike is because of where they are buying the mealie meal, as they are buying it from maybe Senanga, Mongu taking to Siomai.So that Transportation aspect can make the mealie meal price to go up because in Sioma we don’t have a milling plant, in Senanga we do not have a milling plant we only have a Milling plant in Mongu so that can be the contributing factor.” He said.

Kamutumwa further stated that ZNS brand is currently selling K230 breakfast Mealie meal and K190 for 25Kg Roller meal respectfully.

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Sioma District Commissioner has attributed the hike

Markets

Public Sector Development Association (PSDA) President Yusuf Dodia has challenged the Industrial Development Cooperation (IDC) to invest in Indeni Petroleum Refinery Company Limited to reclaim the company’s viability to the energy sector in refining fuel products locally.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Dodia emphasized that the importation of fuel into the Country is an expensive venture but the reviving of Indeni will enable the Country to create the necessary value addition which is essential to the economy.

“Value is what IDC must promote, right now we are importing finished fuel from abroad which is the most expensive fuel we can buy, and yet if we brought in the feedstock as Indeni was designed, push it through Tazama to Ndola, and begin to go back to refining our fuel that is the most sensible value addition investment for IDC to be doing and to expand it by opening Indeni Phase two or phase three,” he said.

Dodia stated that IDC must also consider investing in ZESCO to sanitize the Country’s electricity shortfall which is almost crippling the economy.

He questioned some of the investments that IDC has made in the past stating, “IDC is the biggest state-owned enterprise so when they make a contract that is worth $500 million the people of Zambia suffer the consequences,  as things stand IDC is not been seen as a partner for investment but a dumping ground where when your business is not doing well or where you want to make a big profit, 10 years ago IDC bought two milling companies, and there was no explanation, and now they are considering to buy a farm and they are using public money, we have an argument that Government should not be in the business of running business” he said.

However, adding to the call made by the World Bank to Zambia to the removal of the Republic President from the IDC Board, Dodia remarked “With some of these investments if one wanted to challenge IDC where do you go when the Chairman is the head of state, in a normal good cooperate setting, the Head of State or the chairman should not seat on any of the lower units for which he may ask to arbitrate, by the President not being associated with IDC it allows for transparency,” he said.

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Public Sector Development Association (PSDA) President Yusuf