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By Justine Phiri

KoBold Metals, a technology-driven exploration company backed by leading investors including Bill Gates and Sam Altman, has officially broken ground on the $2 billion Mingomba copper mine in Zambia’s Copperbelt.

Mingomba is owned by a joint venture led by KoBold Metals (80%), with Zambia’s state-owned ZCCM Investments Holdings holding the remaining 20%.

The mine which was officially launched by President Hakainde Hichilema is projected to produce 300,000 metric tonnes of copper per year, making a substantial contribution toward Zambia’s national target of three million tonnes annually by 2031.

Speaking at the official groundbreaking ceremony attended by the Zambian Business Times (ZBT), KoBold Metals Africa CEO Mfikeyi Makayi described the launch of the Mingomba shaft project as a milestone achievement not only for KoBold Metals, but for all Zambians. She emphasized that the project will create both jobs and business opportunities, benefiting the broader community.

Makayi noted that KoBold Metals is committed to making further discoveries and developing additional mines globally, with a special focus on Zambia. The company is currently exploring for copper, lithium, nickel, and other metals at sites across the Copperbelt, North Western, and Southern Provinces, with exploration efforts continuing to expand.

“Our teams are actively drilling to determine copper locations and optimal mine shaft placement,” Makayi explained.

“They are building geological models to predict rock composition and properties, designing networks of underground tunnels to access ore, and developing processing plants to efficiently separate copper from rock.”

She highlighted KoBold’s partnership with several Zambian firms to support operations within the country. “Just three and a half years ago, KoBold Metals was a start-up with only ten employees. Today, we have grown to over 600 people working at the Mingomba site, and we expect to produce around 300,000 metric tonnes of copper annually from this project,” Makayi stated.

Makayi also underscored KoBold’s commitment to community development in Chililabombwe, citing the construction of new classroom blocks at Kawama Secondary School and the commissioning of a new maternity wing at Kakoso Level 1 Hospital, both key investments in local infrastructure and well-being.

“These projects, including the new classroom block and the hospital wing, demonstrate our strong role in supporting the Chililabombwe community,” she concluded.

Kobald Metals Global CEO and President, Dr. Kurt House, noted that the Mingomba mine is projected to produce 300,000 metric tonnes of copper per year at a grade of 5%, ten times the global average.

He said Kobald Metals and its partners have so far invested about $300 million and by the end of 2026, KoBold will have invested $600 million in Zambia, making it the country’s largest private American investor and marking the largest single expenditure of private American capital in Zambia since independence. “We are proud of Mingomba as a landmark American–Zambian partnership,” House said.

“As we maintain the highest scientific standards, KoBold and Mingomba Mining also adhere to the highest ethical standards. We are committed to protecting our workers, the community, and the environment, always following the law and never paying bribes of any kind,” Dr. House affirmed.

Meanwhile, President Hakainde Hichilema, serving as guest of honour, commended the launch of the Mingomba shaft mine as a testament to the power of positive partnerships in advancing Zambia’s economic ambitions. He underscored that the project would play a central role in helping Zambia achieve its goal of producing three million metric tonnes of copper annually by 2031.

“Mingomba is a true greenfield site, representing a brand new mine, new jobs, and new opportunities for our people. Strategic global partnerships, like this one, are essential to realizing our target of three million tonnes of copper per year by 2031,” President Hichilema stated. “The groundbreaking of the $300 million Mingomba project is a historic achievement.”

He highlighted the extraordinary technical progress at the site, noting, “No one has ever sunk a hole as deep as the hole at Mingomba in this country before. Let us applaud Mingomba and its partners-this means we are making discoveries we never even imagined possible beneath our own feet.”

President Hichilema expressed gratitude to the investors for their commitment to Zambia and to the community of Mingomba in Chililabombwe. “This investment is truly commendable. Mingomba brings tremendous value to our mining sector, introducing new technologies and innovative approaches,” he said.

He also pointed out the evident economic spillovers, with local industries such as logistics, engineering, manufacturing, fabrication, and trade already benefiting from the project. “As a government, we are proud of the Mingomba project, KoBold Metals and partners, and ZCCM-IH. We look forward to this partnership delivering even greater value to all stakeholders.”

Speaking at the event, U.S. Ambassador to Zambia Michael C. Gonzales emphasized that the launch of the Mingomba shaft mine represents far more than the beginning of a new mining operation, it signals the commissioning of a transformative project and a modern, mutually beneficial economic partnership between the United States and Zambia.

“What we are witnessing here at Mingomba is not just the start of a mine, it is the start of something much larger, a powerful demonstration of what a real, modern, and mutually beneficial economic partnership between the United States and Zambia can look like,” Ambassador Gonzales stated.

“Mingomba stands as a clear example of the largest one-time investment in Zambia’s history. KoBold’s presence here embodies the enthusiasm and dedication of American investors to help Zambia achieve its goals, driving development, job creation, technology transfer, transparency, local capacity building, accountability, joint ventures, and community partnerships,” he explained.

Meanwhile, ZCCM-IH Board Chairperson Phesto Musonda noted that the Mingomba mine is expected to begin copper production by 2031, securing prosperity for generations to come and reinforcing Zambia’s position as a leading copper producer in Africa.

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By Justine Phiri KoBold Metals, a technology-driven exploration

Uncategorized

By Justine Phiri

KoBold Metals, a technology-driven exploration company backed by leading investors including Bill Gates and Sam Altman, has officially broken ground on the $2 billion Mingomba copper mine in Zambia’s Copperbelt.

Mingomba is owned by a joint venture led by KoBold Metals (80%), with Zambia’s state-owned ZCCM Investments Holdings holding the remaining 20%.

The mine which was officially launched by President Hakainde Hichilema is projected to produce 300,000 metric tonnes of copper per year, making a substantial contribution toward Zambia’s national target of three million tonnes annually by 2031.

Speaking at the official groundbreaking ceremony attended by the Zambian Business Times (ZBT), KoBold Metals Africa CEO Mfikeyi Makayi described the launch of the Mingomba shaft project as a milestone achievement not only for KoBold Metals, but for all Zambians. She emphasized that the project will create both jobs and business opportunities, benefiting the broader community.

Makayi noted that KoBold Metals is committed to making further discoveries and developing additional mines globally, with a special focus on Zambia. The company is currently exploring for copper, lithium, nickel, and other metals at sites across the Copperbelt, North Western, and Southern Provinces, with exploration efforts continuing to expand.

“Our teams are actively drilling to determine copper locations and optimal mine shaft placement,” Makayi explained.

“They are building geological models to predict rock composition and properties, designing networks of underground tunnels to access ore, and developing processing plants to efficiently separate copper from rock.”

She highlighted KoBold’s partnership with several Zambian firms to support operations within the country. “Just three and a half years ago, KoBold Metals was a start-up with only ten employees. Today, we have grown to over 600 people working at the Mingomba site, and we expect to produce around 300,000 metric tonnes of copper annually from this project,” Makayi stated.

Makayi also underscored KoBold’s commitment to community development in Chililabombwe, citing the construction of new classroom blocks at Kawama Secondary School and the commissioning of a new maternity wing at Kakoso Level 1 Hospital, both key investments in local infrastructure and well-being.

“These projects, including the new classroom block and the hospital wing, demonstrate our strong role in supporting the Chililabombwe community,” she concluded.

Kobald Metals Global CEO, Dr. Kurt House, noted that the Mingomba mine is projected to produce 300,000 metric tonnes of copper per year at a grade of 5%, ten times the global average.

He said Kobald Metals and its partners have so far invested about $300 million and by the end of 2026, KoBold will have invested $600 million in Zambia, making it the country’s largest private American investor and marking the largest single expenditure of private American capital in Zambia since independence. “We are proud of Mingomba as a landmark American–Zambian partnership,” House said.

“As we maintain the highest scientific standards, KoBold and Mingomba Mining also adhere to the highest ethical standards. We are committed to protecting our workers, the community, and the environment, always following the law and never paying bribes of any kind,” Dr. House affirmed.

Meanwhile, President Hakainde Hichilema, serving as guest of honour, commended the launch of the Mingomba shaft mine as a testament to the power of positive partnerships in advancing Zambia’s economic ambitions. He underscored that the project would play a central role in helping Zambia achieve its goal of producing three million metric tonnes of copper annually by 2031.

“Mingomba is a true greenfield site, representing a brand new mine, new jobs, and new opportunities for our people. Strategic global partnerships, like this one, are essential to realizing our target of three million tonnes of copper per year by 2031,” President Hichilema stated. “The groundbreaking of the $300 million Mingomba project is a historic achievement.”

He highlighted the extraordinary technical progress at the site, noting, “No one has ever sunk a hole as deep as the hole at Mingomba in this country before. Let us applaud Mingomba and its partners-this means we are making discoveries we never even imagined possible beneath our own feet.”

President Hichilema expressed gratitude to the investors for their commitment to Zambia and to the community of Mingomba in Chililabombwe. “This investment is truly commendable. Mingomba brings tremendous value to our mining sector, introducing new technologies and innovative approaches,” he said.

He also pointed out the evident economic spillovers, with local industries such as logistics, engineering, manufacturing, fabrication, and trade already benefiting from the project. “As a government, we are proud of the Mingomba project, KoBold Metals and partners, and ZCCM-IH. We look forward to this partnership delivering even greater value to all stakeholders.”

Speaking at the event, U.S. Ambassador to Zambia Michael C. Gonzales emphasized that the launch of the Mingomba shaft mine represents far more than the beginning of a new mining operation, it signals the commissioning of a transformative project and a modern, mutually beneficial economic partnership between the United States and Zambia.

“What we are witnessing here at Mingomba is not just the start of a mine, it is the start of something much larger, a powerful demonstration of what a real, modern, and mutually beneficial economic partnership between the United States and Zambia can look like,” Ambassador Gonzales stated.

“Mingomba stands as a clear example of the largest one-time investment in Zambia’s history. KoBold’s presence here embodies the enthusiasm and dedication of American investors to help Zambia achieve its goals, driving development, job creation, technology transfer, transparency, local capacity building, accountability, joint ventures, and community partnerships,” he explained.

Meanwhile, ZCCM-IH Board Chairperson Phesto Musonda noted that the Mingomba mine is expected to begin copper production by 2031, securing prosperity for generations to come and reinforcing Zambia’s position as a leading copper producer in Africa.

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By Justine Phiri KoBold Metals, a technology-driven exploration

Uncategorized

By Philip Sinkala

Sunbird Group has revealed that Zambia’s failure to implement a mandatory fuel blending policy is currently bleeding the national treasury of over US$120 million in potential annual savings from the massive petroleum import bill of up to US$700 million to 1 billion per year.

Speaking in an exclusive interview with Zambian Business Times – ZBT, Sunbird Group Chief Executive Officer, Richard Bennett indicated that this huge expenditure on imported fuel remains a primary driver of domestic inflation, yet the solution has been paralyzed for over 10 years.

A check by the Zambian Business Times – ZBT revealed that the Sunbird cassava-to-bioethanol project in Kawambwa, Luapula Province which was first announced in 2015 and set for commissioning in 2022 has failed to take off due to a total lack of supporting government procedures.

“While Zambia possesses the underutilized land assets to be a continental leader in agri-energy, it continues to import inflation by purchasing 100% of its fuel from volatile international markets,” said Bennett.

He explained that unlike the USA or even neighboring Zimbabwe, Zambia lacks a Statutory Instrument (SI) to compel the blending of locally produced biofuels into the national supply system, a failure he noted has persisted across successive administrations.

“The PF government promised this when we first started, and the New Dawn government (UPND) made it a priority when they first came in, but as of today, the fuel blending mandatory mandate does not yet exist in Zambia,” said Bennett.

Meanwhile, the Energy Regulation Board (ERB) previously told ZBT in May 2020 that the full implementation of biofuels would slash the national import bill by approximately US$100 million per annum.

Bennett added that despite Sunbird investing over US$7 million into the Kawambwa project and registering 5,000 out-growers with 1,750 hectares of cassava already established, the factory construction remains at a standstill because there is no legal framework to ensure the product can even be sold.

He added that the Kawambwa project has now been revised into phases, with the first phase targeting 60 million litres of bio-ethanol, which would immediately substitute US$60 million worth of petrol imports and provide 500 direct factory jobs for Zambians.

“It is so simple because you just say stop buying US$60 million worth of petrol from the Middle East and start buying it from the pool of farmers but it is that missing mandate that has really caused the problem for us,” Bennett emphasized.

He told ZBT that a new hope emerged at the second Luapula Expo, where President Hakainde Hichilema reportedly reviewed the project and issued immediate instructions to the Permanent Secretary for Commerce to finalize the fuel blending mandate within the next 30 days.

Bennett further revealed that if the President’s team successfully implements these instructions, the Kawambwa site will move forward rapidly, paving the way for a second, US$70 million integrated bio-refinery in Muchinga Province which is currently in the early design phase.

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By Philip Sinkala Sunbird Group has revealed that

Companies

By Philip Sinkala

The $55 million Kalabo–Sikongo–Angola border road project has been plunged into controversy as the Zambian government fails to show any physical progress despite contracting a $50 million loan from the Arab Bank for Economic Development in Africa (BADEA) nearly two years ago.

Finance Minister Dr. Situmbeko Musokotwane, acting on behalf of the Zambian government, signed the $50 million loan agreement in October 2024, of which the state was expected to contribute an additional $5 million to link Western Province to the Angolan border.

According to the official project brief seen by the Zambian Business Times – ZBT in October 2024, civil works were explicitly scheduled to commence in November 2025 and reach completion by October 2027.

However, five months past the promised start date, there is no evidence of contractor mobilization, surveying, or land preparation on the ground, leaving the strategic trade route in a state of total paralysis.

Suspicion has heightened following the April 23, 2026, visit of the BADEA President, Abdullah Almusaibeeh to Zambia, where the government conspicuously failed to provide any progress update on the multimillion-dollar road project despite him being the primary financier.

Meanwhile, speaking in an interview with Zambian Business Times – ZBT, Sikongo Town Council Secretary, Shimwanga Monde confirmed that the local authority has seen zero activity within the district.

Monde added that the council has not recorded any physical works such as surveying, land preparation, or contractor mobilisation within the District and the Council has not yet been formally engaged by the Road Development Agency (RDA).

“The Council has not received any formal communication indicating the commencement of works, despite the project being previously labeled as a matter of extreme national urgency,” he said.

Infrastructure Development Minister, Charles Milupi had earlier told ZBT in an exclusive interview in October 2023 that the government was moving “as soon as possible” to develop the border link, yet his ministry has since remained silent on the failed implementation.

However, efforts to get a comment on the status of the project from RDA had proved futile despite repeated queries regarding why a contractor has not been selected or introduced to the local authorities nearly 18 months after the funding was secured.

The current deadlock raises serious economic concerns over the $290 million already invested into the bituminous Mongu-Kalabo road, which effectively remains a road to nowhere without this final 34-kilometer link.

Monde further emphasized that the Council anticipates that the completion of this road will significantly enhance cross-border trade with Angola though these developmental benefits remain suspended by administrative inertia.

And Western Chamber of Commerce and Industry Secretary, Samuel Litebele also told ZBT that the physical ground-breaking ceremony for the project has not yet been conducted on the actual site in Western Province.

“The government has only launched the construction of the road which was announced in Lusaka, several hundred kilometers away from the intended implementation zone,” said Litebele.

With the “rainy season excuse” long expired and the funding partner having recently visited the country, the total lack of activity suggests that the Kalabo-Sikongo road has stalled before a single shovel has hit the ground.

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By Philip Sinkala The $55 million Kalabo–Sikongo–Angola border

Mining

By ZBT Analyst

 The Zambian government will lose nearly $100 million in revenue following its recent decision to suspend the 10% export duty on copper concentrates. This is after Minister of Finance Dr. Situmbeko Musokotwane, announced this tax waiver to run for three months from February 27, 2026, through May 31, 2026.

 The measure covers more than 280,000 tons of copper concentrates which governmet said, cannot be processed locally due to ongoing maintenance and capacity limitations at local smelters.

 However, industry sources have indicated that the primary beneficiaries of this tax break may not be the mining companies themselves.

 Instead, the deal to export copper concentrates has been directed to Industrial Resources Limited (IRL), a subsidiary of the stateowned Industrial Development Corporation (IDC). IRL is a 50:50 joint venture with Switzerland-based Mercuria Energy Trading SA, a JV that was formalized in 2024. Dr. Musokotwane confirmed that all exported concentrates must be routed through IRL.

 However, at prevailing international market prices of approximately $3,500 per ton, the expected revenue from exporting 280,000 metric tonnes of concentrate is estimated at almost $1 billion. With the export duty currently suspended, a 10% tax if applied were duty was not waived and suspended would have resulted in the Zambia Revenue Authority – ZRA collecting about $100 million in taxes.

Secretary to the Treasury, Felix Nkulukusa, told the Zambian Business Times (ZBT) in an exclusive interview earlier indicated that the suspension is a pragmatic response to the current “concentrate surplus” caused by annual maintenance shutdowns and breakdowns at major smelters. But some insider sources argue that such measures were only justified during periods when Zambia faced power challenges like load shedding.

 Industry insiders question whether such relief is warranted now that Zambia’s power challenges, including load shedding, have abated. Business and trade experts argue that Zambia would derive greater long-term benefit from adding value to its copper production by producing and exporting finished cathodes rather than concentrates, which offer larger profit margins and better tax collection values.

 Copper cable manufacturers already existing in Zambia are reported to deliver almost five times (5X) the value, with calls that more upstream and copper value adding companies should rather be attracted to set up in Zambia than continue to export raw and semi-processed copper, which still remains the largest export earner accounting for over 70% of total export values of Zambia

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By ZBT Analyst  The Zambian government will lose

Agribusiness

By Francine Chibuye

The National Association for Smallholder Farmers (NASFA) has urged farmers to run agriculture as a business and avoid dependence on the Farmer Input Support Programme (FISP), as it backed the Food Reserve Agency’s (FRA) caution against selling maize at “giveaway” prices.

FRA recently warned that selling entire harvests immediately after production threatens household and national food security.

In a statement, the Agency said it had “noted with concern media reports indicating that some farmers from various parts of the country have already started selling their maize at giveaway prices.”

In exclusive interview with Zambian Business Times NASFA Executive Director Frank Kayula said President Hakainde Hichilema’s recent caution to farmers remains critical as harvesting intensifies countrywide.

““He advised farmers not to be in a hurry or rushed to sell their maize early, because better prices are coming.

Kayula said NASFA issued the same advice last season after direct engagements with government and the Food Reserve Agency (FRA), and farmers who ignored it lost out.

“We told farmers, ‘Don’t sell in a rush. Better prices are coming.’ They regretted because FRA gave the best price ever,” he said. “So we can only urge our farmers that they should be patient.”

Kayula stressed that agriculture must be run as a business, not as a cycle of dependency on the Farmer Input Support Programme (FISP).

“In agriculture you must make a profit so that you don’t always rush to government always requesting for FISP’,” Kayula said. “Some people have become too dependent on FISP and they are not growing.”

He called for a review of beneficiaries, arguing that farmers who habitually sell at “giveaway” prices, expecting FISP to cover them, undermine the programme.

they should be fished out and removed from FISP. They are not there for business and they will drain government resources forever and ever. We want other farmers to benefit from FISP, not the way it has been.”

“So those who are selling, they should not think that they will come and lean on government again. We’ll begin identifying them and once we identify them” He said

While acknowledging the cash pressure farmers face, Kayula said diversification is key to avoiding distress sales.

Kayula said there is a challenge of needing money immediately, but government and ourselves and other stakeholders have been calling on farmers to diversify so that they are able to have money and hold on to their crop and sell when there are better prices. “We don’t want perpetual poverty in the farming sector at all.” he said

Kayula outlined three key steps for farmers Diversify to avoid cash pressure, Be patient and wait for better prices, and Use the new Warehouse Receipt System to store grain in certified facilities and access credit, then sell when prices improve.

The Warehouse Receipt System allows farmers to deposit grain in certified facilities and access credit using the receipt as collateral, instead of selling when the market is flooded and prices are low.

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By Francine Chibuye The National Association for Smallholder

Tech

Are Zambian content creators making money from TikTok?

By Charity Kampinda

In today’s fast-evolving digital space, platforms like TikTok are no longer just spaces for entertainment; they have become powerful tools for entrepreneurship, education, and personal branding.

 Although in the Zambian context, creators do not make money directly on the platform but through branding, TikTok offers a low-pressure environment where creators can simply pick up a camera, share insights, and connect authentically with audiences.

 In an interview with the Zambian Business Times-ZB, digital creator and entrepreneur Emma Kamau, who is not just influencing but actively building and documenting her business journey in real time through her brand, “Emma’s Collection,” shares her lessons.

She revealed that her approach is sharing as she learns, one that resonates strongly with audiences, particularly aspiring entrepreneurs who find value in relatable, practical experiences. By focusing on business and self-development content, creators like Emma are addressing real questions from their communities, often transforming repeated inquiries into structured, shareable knowledge.

 “What begins as free content often develops into paid opportunities by just sharing lessons and ideas that resonate with your audience,” said Emma.

She noted that the audiences increasingly seek deeper, more personalized learning experiences, and creators need to serve as a critical bridge between content creation and entrepreneurship, transforming followers into clients and communities into sustainable business ecosystems.

 “While digital platforms are free to use, they require strategic effort to yield results. Creators must develop content schedules, define their messaging, and remain intentional about the value they provide.”

 Additionally, she said that the impact of content creation is increasingly extending into broader economic opportunities. As creators grow, they often build teams that include editors, managers, and content strategists creating jobs and enabling remote work opportunities for other young people

. “What starts as a personal brand can evolve into a small-scale enterprise, contributing to both local and global digital economies. It stops being just about you; it becomes about the economy and how you can contribute to it,” said Emma.

 Emma further added that monetization, too, is shifting in perspective.

 Rather than relying solely on direct payments from platforms, creators are recognizing the true value of community.

 A strong, engaged audience becomes the foundation for income through brand partnerships, product offerings, and service-based businesses.

 “In this model, content is not the end goal; it is the gateway to influence, trust, and ultimately, revenue,” said Emma

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Are Zambian content creators making money from

Sport

By Samuel Mutale

In the midst of a heated fallout between the Copper Queens coach and the Football Association, pundits and stakeholders are keenly observing who is likely to emerge as coach in case of a failed resolution.

Former Copper Queens Coach Fredrick Kashimoto has urged the FA to consider hiring the services of a local coach, ensuring that a better contract is offered.

 Kashimoto initially coached the Copper Queens before Bruce Mwape replaced him after encountering an accident, with the latter sacked last year after a record-breaking back-to-back Olympics and a debut at the World Cup.

 Generally, the football fraternity has favored expatriate coaches, who are said to be tactically savvy, unlike locals, who mostly are reliant on local education and lack badges.

 Speaking in an interview with the Zambian Business Times, Kashimoto said, “Why did they chase Bruce, and now we are struggling to pay the foreign coach? It’s better to hire a local coach and give them all the incentives.Look at Nigeria and other countries that are supportive of their own. We want expatriate coaches; employ local coaches and give them contracts and not have a coach who is juggling between the club and the national team.”

World Cup records indicate that no foreign coach has won it, an appalling statistic that reflects that local coaches also have the potential to bring glory to their nations if only they are fully supported.

When asked about the reasons why the Copper Queens struggle to tick as far as clinching a trophy, he observed that the team is short of a variety of players and only depends on Racheal Kundananji and Barbara Banda.

 “Way back we used to have three teams, ABC, and nowadays it’s difficult for the ladies because there is just one team; we cannot go anywhere because these ones go, and we can have a transition.

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By Samuel Mutale In the midst of a

Real Estate

By Francine Chibuye

The growth of Airbnb and and short term rentals across vibrant cities like Lusaka and Livingstone has expanded accomodation options for travellers and exposing the need for policy.

In an interview with the Zambian Business Times, Hotel and Catering ASSOCIATION Of Zambia (HCAZ) vice president David Rossi said the sector relies on the already existing policies on attached to tourism. Airnb is an business model that originated from the western world, in particular San francisco America, where it initially started as rentals, and it actrually means Air Bed and Breakfast.

“Local councils rely on existing laws such as tourism licensing, business registration, zoning, and tax requirements rather than Airbnb-specific regulations, with enforcement still inconsistent,” the Secretariat said.

He added that the boom is visible in Lusaka’s business districts and near Livingstone’s Victoria Falls, where tourists and corporate visitors are opting for apartments and private homes over traditional hotels.

The listings offer lower rates, self-catering options, and access to local neighborhoods. Property owners are also benefiting, turning spare rooms and flats into income streams that boost household earnings and circulate cash in the local economy. The hotel industry also raised concerns about unfair competition, tax imbalances, and loss of market share due to informal operators.

Secretariat said the government is focusing on improving compliance, formalizing the sector, and developing clearer policies. The overall goal is to integrate short-term rentals into the formal economy while ensuring fair competition with traditional hotels,” she said.

 Meanwhile, Rossi welcomed the decision made by the Lusaka city Council (LCC) to reduce property rates by 15 and 10 percent, observing that this is liley to trickle to better business for the sector. Initially, LCC had proposed to increase the rates by 400 percent but an outcry by both business and residential property owners has effected change, with commercial rates now at 15 percent and residential at 10m percent.

 “It is what the industry needs because we are struggling, we need to know the rationale of arriving at the reduction of 15 percent.”

Rossi observed that the hiked rates have led to a lack of compliance by most entities, ultimately affecting the revenue correction of councils but the reduction might slightly change the status quo.

Generally, most councils interviewed over a span of last year, have complained about the low compliance to the paying of rates, a case that has stringent implications of the revenue collection of the councils.

According to information obtained by ZBT, the rates are charged according to the value of the property. The property market and in particular real estate has witnessed a sporadic growth in recent years, but the rates especially for commercial properties have been the biggest challenge. The ZBT has numerously interviewed industry experts and stakeholders who have voiced concerns with the rates associated to land, that it falls short of speaking to the demands of t

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By Francine Chibuye The growth of Airbnb and

Lifestyle

By Karen Ngulube.

The University of Zambia (UNZA) has clarified that its temporary closure is part of the institution’s scheduled academic calendar and not linked to ongoing sanitation works, contrary to speculation circulating on social media.

Speaking in an exclusive interview with Zambian Business Times (ZBT), Jemimah Mwaba, Vice President of the University of Zambia Students Union (UNZASU), confirmed that the institution has officially closed for its mid-year recess.

“The university has not closed due to sanitation works. This is a planned mid-year recess, and classes have ended as scheduled,” she said.

Mwaba explained that while sanitation and infrastructure works are ongoing on campus, they are not the reason for the closure. She added that some students are still expected on campus to sit for examinations during this period.

Addressing circulating videos suggesting unrest among students, Mwaba dismissed claims of demonstrations, stating that the footage was misinterpreted.

“Those were not protests. Students were simply celebrating the closure and the opportunity to go home while works continue,” she clarified.

Meanwhile, Mwaba declined to comment on reports regarding funds allegedly donated by president Hakainde Hichilema to the university to urgently deal with sanitation issues, stating that she could not provide details or unverified information.

“All I can say is that the matter is being worked on, but I cannot comment further until there is verified information,” she said.

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By Karen Ngulube. The University of Zambia (UNZA)

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