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Opinion

We are now deep into the political season, with August 12 elections date fast approaching.

Realistic candidates and political parties taking part should by now make up their minds on either to cut their losses or increase their momentum. To endorse other candidates or parties and get off the crowded Zambian political field to give space to the real contenders.

Some candidates by now, from Presidential, Parliamentary and local government are feeling the pressure, are getting that inevitable deep seated feeling or sense that they are headed for a defeat.

Others are catching momentum, catching the wind in the sails and sprinting to the finishing line of August 12 general elections when the voters will merely be confirming them as winner.

Despite this gift to humanity for inner feelings and deep reasoning, some candidates despite sensing defeat, are rather scheming on how to cheat or manipulate electorates or the electoral system.

Others are convincing themselves that they are still going ahead with the polls for strategic purposes, gunning for the future 2026 general elections. Whether this is wise or downright naivety will only be known in the near future.

While for others, it’s a fight to the death, they are already too invested to back down even when the signal is clear that they are more likely to lose than to win. Their chances are below 50%. But this is the world we live in today, were common sense can completely escape from one’s mind.

Experienced political hands will tell you that endorsement of the eventual winner is more viable than political posturing. Than continuing to run when you very well know that you have lost the race.

Bottom line is, some candidates by now know that they really have no sizable support base and stand no realistic chance of wining. For these, our advice is that, it’s time to cut your loses. Weather at local government, National Assembly or presidential level, its time to for once act in an efficient manner.

Whatever the case, most of our ordinary citizens who are independent observers, voters and in some way sympathizers of specific candidates or political parties are also getting the drift. They know deep down in their hearts the direction that this election will go and which way they will vote.

As an experienced and initiated democracy, Zambia has navigated through the 1991, 1996, 2001, 2006, 2011 and 2016 general elections with two presidential bye elections in 2008 and 2015. There are clear discernible patterns that have been established.

From this experience, It’s suffice to say that some of the candidates or political parties are merely being stubborn to accept the inevitable verdict to come. Even their loyalist are remaining mostly because of personal ties while others for their financial survival or reasons.

This is perhaps why you will note that the more experienced political hands have rather backed off the race and endorsed one of the top two contenders.

Elections by their very nature are a very divisive process especially for our humble citizens most of whom are simply weeped or shepherded into supporting one or the other candidates or political parties.

Others have also been made to support candidate because of their habitat location, the region’s they call home. And this is what makes politics a dirty game. It’s never about meritocracy, but more of capturing minds, traditions and taking advantage of the human instinct that seeks belonging.

As we are now in the last 30 days, voting blocks and boundaries will start to clearly be drawn. Politicians will open up memories of historical wounds and mistrust between citizens, between cultures and regions.

Geographic, demographic, cultural, social and any other sphere of differences of our ordinary citizens will be elevated such that, in the end, historical voting patterns will emerge.

You see, politics is and has always been a dirty game. You and I may not agree with how it plays out but it’s very nature even in more developed western economies leaves much to be desired.

In these elections, due to Covid, the Electoral Commission of Zambia – ECZ has restricted road shows. Remember, if we were to rank which modes of campaign is more effective, rallies were historically the main form of political mobilization followed by road shows and then direct approach such as door to door.

In these elections, the two most utilized platforms for political mobilization which are rallies and road shows are out of the play book. The terrain has been fundamentally altered.

Of course, this is necessary when you look at the raging COVID pandemic. Only those living on isolated homesteads can dispute the need to ban super spreader events. On our part, we can confess that this third wave is more devastating and real as close relatives and friends have either tested positive or succumbed to this virus.

So, forget about the argument that there is no COVID or that it’s politics, it’s real and raging right now. The cold season has also not helped matters as hospitals and clinics are now overwhelmed.

Now, the real political question of today is who is more astute between the ruling Patriotic Front – PF and their main rival the opposition United Party for National Development – UPND, the two main official options available for campaigns i.e on door to door mobilization and digital/Facebook activation?

Is digital/Facebook activation more powerful than door to door engagement to get out the votes? Will voter turn out be the key deciding factor for these elections? Will voting patterns or voting blocks repeat themselves and tilt the balance of power due to the arrogance of numbers in this contest?

All we can say for now is the patterns are slowly but surely emerging…

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We are now deep into the political

Markets

The Ministry of Finance and the Bank of Zambia – BOZ have been advised to concentrate their efforts on securing a debt restructuring deal to prevent further slide or depreciation of the Kwacha.

The stability of current exchange rate position is largely driven by the country’s debt position, which is currently at unsustainable levels and the Government’s needs to return to a position were all its sovereign debt can be serviced.

Speaking in an interview with the Zambian Business Times – ZBT, Financial Analyst Trevor Hambayi explained that the Government’s push to service the country’s debt has continued to depreciate the Kwacha, which is also seen in the reduction of foreign reserves.

Hambayi said to address this situation, the technocrats needs to deal with the debt situation by securing a restructuring deal to sustainable levels. And one of the key conditions required to achieve this is to agree on the International Monetary Fund (IMF) package.

He said once this is done, all other conditionalities would fall in place, which will be speaking to the country’s fiscal discipline including how the country gets to spend or not to spend money, how much debt the country can contract or where and when the country can contract debt.

“Once we have managed this debt situation and restructured it to meet our capacity to repay, this is going to bring stability in the exchange rate. This stability will ensure that the inflation rate will start to be stable and that is what is going to speak to us having to be able to recover economically,” Hambayi said.

He said there needs to meet the conditions set by IMF which include transparency on the amount of debt the country has, fiscal discipline, tackling corruption, abuse of office and overpricing of infrastructure development projects.

Hambayi said, “Once we have put those things in place, the IMF is very willing to come on board to support us and then we can restructure our debt.

“The other thing around this is that there is no way the IMF would not agree on anything prior to the country going to general elections. This is because the tendency of African governments which we have seen even with our own is that they tend to spend money on basic political empowerment programs to appease the electorates.

“So the IMF was very weary of this and where not willing for us to be able to discuss this package until after elections,” he said.

Hambayi said what would have been positive is for Government to have negotiated with IMF to determine what it needed to do exactly prior to the election and agree that as soon as the country goes past the elections, the IMF will come on board.

“Generally, I think yes the IMF will support us but this support will have to come after the elections and what you will see is that at that time, government will have no political inclinations about this and very hard decisions will be taken.

Some of the projected decisions will include the increase in the price of fuel and the removal of subsidies on electricity and other things that have subsidies on as well as have wage freeze where government will be required either to trim down its workforce to reduce the wage bill,” he said.

He said following this, there would be need for a stimulus package into the economy for the economy to be able to grow. “Once the economy starts to grow, it will lead to the reduction of both the inflation rate and stabilization of the exchange rate.

“Once we start to have the economy recover, we want this recovery to be driven by local businesses and SMEs because this is what is going to ensure that the resources we are going to generate will remain in the country and the benefits will trickle down to the market,” Hambayi added.

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The Ministry of Finance and the Bank

Mining

The Competition and Consumer Protection Commission (CCPC) has confirmed that they have not yet approved the transaction between Huaxin Investment Company Limited and Lafarge Zambia Plc as the case is still under review. Lafarge Zambia still has a pending case with the Competition and Consumer Protection Tribunal – CCPT.

Lafarge Zambia together with Mpande Limestone (Sinoma Cement) and Dangote were ordered by the CCPC Board to slush down their retail prices and revert to pre-cartel prices following an investigation that found the three firms gilty of acting and forming a cartel.

The proposed transaction is such that, Huaxin is purchasing 50.10% and 24.90% shares in Lafarge from Pan African Cement Limited and Financière Lafarge SAS respectively. This will culminate in the acquisition by Huaxin of 75% shares in Lafarge Zambia.

CCPC public relations officer Rainford Mutabi confirmed in an interview with the Zambian Business Times-ZBT that the commission was still reviewing the proposed merger involving the two companies and would communicate if the approval is granted.

“The Commission has not yet made any approval to the transaction between Hauxin Investment Company Limited and Lafarge Zambia Plc. This is because the case is still under review and as such, further information will be communicated if approval of the transaction is granted,” Mutabi said.

The Commission is calling for stakeholder views on the proposed merger involving Huaxin (Hainan) Investment Company Limited (“Huaxin” or the “Acquirer”) and Lafarge Zambia Plc (“Lafarge” or the “Target”). Some stakeholders have expressed concerns that Lafarge May have sold out to escape the fines that were meted in the company by CCPC.

Huaxin is a limited liability company incorporated in the People’s Republic of China. Lafarge is a public limited company, incorporated under the laws of Zambia and listed on Lusaka Stock Exchange.

On the other hand, the Competition and Consumer Protection Tribunal (CCPT) is yet to make its ruling in the cartel case, which involved Lafarge Zambia Plc, Mpande Limestone Limited and Dangote Cement Zambia Limited.

The board of directors of CCPC in March this year fined Lafarge Zambia Plc and Mpande Limestone Limited 10% of their annual turnovers for the year 2019 and another 10% of their 2020 annual turnovers for price fixing and division of markets, while  Dangote Cement Zambia Limited was granted full leniency for having cooperated with the Commission during investigations.

However, Lafarge Zambia Plc appealed the decision by the Commission to the Competition and Consumer Protection Tribunal – CCPT. “You may wish to know that the CCPT is yet to make its ruling in the cartel case which involved Lafarge Zambia Plc, Mpande Limestone Limited and Dangote Cement Zambia Limited.

However, CCPC Board of Commissioners only granted full leniency to Dangote Cement Zambia Limited for having cooperated with the Commission during investigations,” Mutabi said.

The board of commissioners of CCPC ordered Lafarge Zambia Plc, Dangote Cement Zambia Limited and Mpande Limestone Limited to revert to the pre-cartel prices ranging between USD 4.50 – USD 5 for a period of one year from the date of receipt of the Board Decision pursuant to  Section 59 (3) (b) of the Act.

This was after an exhaustive investigation by the Commission initiated in January 2020, following the Commission’s observations of a sustained increment of cement prices from an average of K55 to K100 per 50Kg bag between July 2019 and January 2020.

The Board of Commissioners determined that the sharing or exchange of commercially sensitive information relating to future prices and rebates by Mpande Limestone Limited, Dangote Cement Zambia Limited and Lafarge Zambia Plc amounted to an agreement.

The Board of Commissioners further determined that this agreement was anti-competitive as it was used to fix the price of cement and share markets contrary to Section 9(1) (a) and (b) of the Act respectively.

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The Competition and Consumer Protection Commission (CCPC)

Agribusiness

When the Food Reserve Agency – FRA announced a 36% maize buying price increase, it was heralded as a good decision, especially for the farmers. FRA went on to increase buying prices for Soya and other key commodities. For the initiated, it was clear from that time that it was the consumers who would eventually pick up the tab and foot the bill.

It is important for us to understand and appreciate that what may be referred to as good prices for farmers, eventually lands back at the consumers or general public in form of price increases. The increase in buying prices by FRA in itself is not a bad thing, but what the country seems to struggle with is that these increases need to be managed, need to be gradual and minimal year on year for consumers to be able to adjust.

What is now happening is only a domino effect, commercial suppliers of day old chicks across the country have one by one come forward and announced increases in prices of day old chicks, with many citing the depreciation of the kwacha as the main reason for the price hikes.

Ross Breeders Zambia Limited is the latest commercial breeders to announce a price increase of day old chicks by about 14% from K14 to K16 per bird effective 19 July 2021. This increase effectively means that the retail prices of chicken will also follow suite and go up by a similar margin.

Ross Breeders Sales Coordinator Francis Mwila has explained that feed prices for the parent stock have continued to go up which means the production for the parent stock, which produces the eggs where the day old chicks come from, has also increased.

Mwila said the company does not have all the raw materials used to manufacture feed for the parent stock, therefore it imports the materials that are not available in the country from South Africa and other foreign countries.

Speaking in an interview with the Zambian Business Times – ZBT, Mwila said these materials are imported using foreign currency (in US dollars) and with the weakening of the Kwacha, manufacturing feed has become expensive due to the high prices of the imported raw materials and feed supplements.

He noted that feed prices for day old chicks have also gone up in a range of about 20-25% due to the kwacha losing its value against major convertibles. “The price of maize, soya beans and all the other locally available raw materials that are used in the manufacturing of chicken feed have gone up, so that’s why you are seeing the prices of feed going up”, he said.

A check by ZBT also revealed that even the Food Reserve Agency – FRA announced some notable increase in buying prices for Maize and Soya beans (key materials for stock feed) in 2021 which is now being felt after millers, stock feed manufacturers and traders price in the current prices. See article on Govt nods 36% maize price hike

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When the Food Reserve Agency - FRA

Companies

As an economy, local manufacturing may not always be a solution for some products as economics of comparative advantage eventually wins. There is need to engage in deep analysis and make informed decisions about which products can be efficiently manufactured locally and which ones the country should rather rely on imports.

One current case in point of the play of economics of comparative advantage coming to weigh in is the shutdown of Eagle Glass which was aimed at reviving the nostalgic Kapiri Glass Company. The set up of this company was aimed at cutting down Glass imports and making Zambia self sufficient in glass manufacturing using locally sourced raw materials.

But Eagle glass announced that it was shutting down its local production lines earlier this year due to heavy competition from cheap imported glass. When contacted to find out the current state of affairs, Central Province Permanent Secretary – PS Bernard Chomba stated that negotiations are still underway to see if Eagle Glass manufacturing company in Kapiri Mposhi can resume operations.

He also confirmed that the manufacturing company is currently not operational as it halted production of its glass products earlier this year. Chomba said the company stopped production because imported glass is cheaper than the glass that it was manufacturing and therefore realised that it was difficult for it to survive in business.

Speaking in an exclusive interview with the Zambian Business Times-ZBT, Chomba said investigations are ongoing to find out why the company would decide to down tools until a time when business is favourable for them after investing huge sums of money into the Kapiri Mposhi based factory.

He said the company has halted production, sold off everything it had produced and has switched off its machines and glass manufacturing plant, adding that it may be trying to convince government to increase the tariffs on imported glass, so that its glass can be cheaper.

The Central Province PS stated that one possible solution might be engaging power utility ZESCO Limited to see if reducing electricity tariffs for the company would assist it in any way, but no concrete solutions have currently been agreed.

He added that the company sources its major raw materials locally which is a plus to the local economy, adding that some raw materials such as chemicals, which are in form of powder, are imported and used in the manufacturing process.

“I don’t know if they just want to make their case and convince government to start hiking the tariffs on the imported glass, so that they can have a monopoly of their products on the market, we are still investigating”, he said.

Chomba further revealed that Eagle Glass manufacturing company is the first of its kind and the company had plans to open another factory, but the current situation does not make it clear on the fate of those plans.

When contacted for a comment, Eagle Glass Managing Director Zhi Zhao confirmed to ZBT that the company is no longer in active glass production and that the company would be able to provide more information on its operations at a later stage.

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As an economy, local manufacturing may not

Companies

Zambia’s energy giant – ZESCO Limited is working towards making Zambia a net exporter of electricity for the Southern African region by the year 2025. This will make the power utility to become a major contributor to forex earnings for the country which is key to stabilizing the Kwacha.

The power utility company is currently taking steps towards ensuring that this projection becomes a reality by investing in a number of power generation projects in the country. There are also some independent power producers – IPP projects that are expected to further increase the country’s energy output.

Speaking in an exclusive interview with the Zambian Business Time- ZBT, ZESCO Senior Manager, Corporate Affairs, Dr. John Kunda, said the company’s five-year projection was to become a trade hub for electricity for Southern Africa.

Dr. Kunda said that, to this effect, the company has been investing in power generation projects that will significantly contribute to the national grid, with the excess to be exported.

He cited some of the projects such as the 750 Megawatts Kafue Gorge Lower (KGL) hydroelectric power station, Lusiwasi hydro power project and the Luapula Hydroelectric project the Batoka Gorge Hydroelectric Power Station, among others.

“So the five-year projection for ZESCO is to become the net exporter of electricity in the region, this target is to be reach by the year 2025,” Dr Kunda said. When asked on the progress for the development of the Luapula Hydro project, he explained that the Luapula hydro project is currently at feasibility stage.

Dr Kunda explained that apart from having a rich energy mix with both solar and hydro power, ZESCO was looking to have a scenario where Zambia becomes self-sufficient as a country.

He noted that the current demand for electricity as a country is about 2,300 megawatts at peak and by 2025; the projected generation capacity will be at about 3,550 megawatts. This is expected to provide a surplus.

Dr Kunda said that, this means that ZESCO will have excess electricity to export to neighboring countries by 2025 thereby earning forex income for the country. Power exports are projected to become a major contributor to Zambia’s forex earnings.

“In terms of solar, we are currently injecting about 86MW into the national grid.  We are also working on the Lusaka Distribution and Transmission Rehabilitation Project which is being funded by the European Investment Bank and the World Bank at a total cost of about US$260 million.

“The purpose of this project is to upgrade the transmission and distribution network so that it is stable, that is, it provides reliable and consistent power.

We are also upgrading a number of substations such as the one at Leopards Hill in Lusaka, the Water Works one along Tokyo way and the one in Roma in Lusaka. This is to ensure efficiency and stability in power supply for Zambia’s capital,” he said.

He observed that some of the outages in electricity supply that are usually experienced in some parts of the country were as a result of a network that is old or unstable. This is however being upgraded.

Dr. Kunda said, “We are also working on a number of interconnectors that should be able to assist in the transmission of power in the region like taking power to Zimbabwe, Botswana, South Africa, Angola, Tanzania and Namibia. Power Trading is also projected to significantly increase.

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Zambia’s energy giant - ZESCO Limited is

Companies

Zambian businesses have been cautioned to be more vigilant following Financial fraud involving about K400,000 which has landed Global Seal Zambia Limited a two year suspension from participating in public procurement activities in Zambia.

The remitting bank – Ecobank and the Financial Intelligence Centre – FIC were both engaged to recover the funds by the local company but have all failed to successfully corroborate with the receiving bank to remit back the stolen funds due to email hacking.

The Zambia Public Procurement Authority (ZPPA) has with immediate effect suspended Global Seal Zambia Limited from participating in public procurement in Zambia, for failing to substantially perform contractual obligations.

Global Seals Zambia was awarded a contract by ZESCO Limited to undertake rehabilitation works on the ZESCO water flowing system at Kafue gorge in 2019 at the total cost of K1.6 million. However, the company could not successfully undertake to works.

Global Seals Zambia technical services manager John Mushi said the company failed to fulfil the contractual obligations at that time because it was swindled during the transaction to procure materials from the suppliers in Sweden.

Mushi explained that ZESCO had paid Global Seals about K400,000 as down payment to enable the company procure the raw materials needed to start the project.

“We lost some money through some cyber security breach, the money was paid to us by the client who was Zesco. So as we were trying to send the money to our supplier Ramson Multi Filter Systems of Sweden, we ended up sending to a wrong account because they had penetrated the email system.

“When we lost the K400,000, we failed to raise money to work on the project, so that is why the client (ZESCO) complained and we have been suspended,” he said.

Mushi said, “We received correspondence from our clients in Sweden that we should use the different account from what we usually use to send the money not knowing that the email had been tempered with and the message was not from our clients, so we transacted.

He said when the company discovered that it had sent the money to a wrong account, they called their bank, ECO Bank to try to cancel and reverse the transaction but it was too late because the swindlers in Mexico had already withdrawn the money.

“I called Ecobank to reverse the transaction, it was about a week later that is when we received the news to say our clients didn’t receive the money.

The bank tried to help us recover the money but because the transaction happened like on a Thursday and we only discovered that we lost the money the following week on Tuesday and by then the money had already gone through and was in Mexico and the frausterd withdrew it,” Mushi said.

He said, “We gave the report to the Financial Intelligent Centre (FIC) who tried to recover the funds but they also said it was complicated to get the thieves arrested or get the money back.

“When we lost that money our financial situation was bad and we were trying to see how best we could get back the contract online and meet the requirement by ZESCO but it was difficult. At the time we had meetings with ZPPA we had someone who was willing to come in and finance the project on our behalf but I think it was too late,” Mushi said.

He said the company understands that ZPPA has suspended them because it did not meet the requirement by ZESCO Limited and that it did not respond to the notice by ZESCO on its intention to terminate the contract.

“This move by ZPPA is going to affect our business because we are not only involved with ZESCO but we understand, it happens,” he said.

ZPPA in a circular issued to all permanent secretaries and controlling officers, chief executive officers of parastatals and statutory bodies, all town clerks and council secretaries of local authorities, noted that the decision to suspend Global Seal Zambia Limited was pursuant to section 96 of the Public Procurement Act No. 8 of 2020 and regulation 167 of the Public Procurement Regulations, 2011.

ZPPA Director General Idah Chella advised all procuring entities to enforce the suspension by ensuring that they do not award contracts, sale or issue solicitation documents or in any other way invite bids from the company; and enter into any other dealings or communications with the company except in respect of existing contracts signed prior to this suspension.

She noted that the suspension includes any “successor in interest” including any entity which employs, or is associated with any partners, directors or other officers considered as successors in interest.

“The suspension does not in any way limit Global Seals Zambia Limited from performing outstanding contracts that were entered into before the date of the Circular,” Chella said. She urged procuring entities not to enter into any new contracts with the company after the date of the Circular and during the period that the suspension will be in force.

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Zambian businesses have been cautioned to be

Markets

The Information Communication Technology – ICT and Telecommunication sectors have recorded increased business opportunities while the hotel and travel industry has been the worst hit by the COVID pandemic, the Zambia Chamber of Commerce and Industry – ZACCI has revealed.

The COVID-19 pandemic has tested the resilience of the Zambian economy and is exacerbating the development challenges confronting it. More than 70 percent of Zambian firms are still experiencing depressed demand for their goods or services compared to the situation before the pandemic.

Zambia Chamber of Commerce and Industry (ZACCI) has confirmed that about 5% of all businesses in Zambia has permanently closed and 2.3% closed temporarily closed since the onset of the Covid-19 pandemic.

ZACCI president Chabuka Kawesha said in an interview the Zambian Business Times-ZBT that loss of customers is the most significant challenge rated by 77.3% of the businesses. “Other reported challenges include supply chain cuts at 37.7%, high commodity prices/material prices reported at 36.0 % and problems with late payments at 32.3%, among others. These challenges largely affect operating revenue for enterprises.

“On the input supply side, the largest firms have been far more able to source input materials than have small and medium enterprises,” Dr. Kawesha said. He said the ZACCI business confidence index for first quarter of 2021 was recorded at 48 points, an improvement from the 38 recorded in the fourth quarter of 2020.

Dr Kawesha said the 48 points implies that the business executives still expressed negative sentiments about the business environment, but the confidence levels were an improvement from the previous quarter.

He said the main reasons that led to negative sentiments in the business environment were COVID-19, depreciation of the kwacha, changing cost of doing business, lower demand for goods and higher import prices.

“The ZACCI survey reveals that the performance of business has worsened in the first quarter (Q1) of 2021 compared to Q4 of 2020 due to the aforementioned reasons.

“Further, the survey reveals that most businesses maintained their staff in Q1 2020 whilst some staff worked from home. Furthermore, businesses experienced reduced demand for their products in the same period. Additionally, the survey reveals that the general cost of doing business increased in Q1 of 2021,” he said.

Dr Kawesha said the tourism sector was hit hard particularly during this period while the Information and Communication Technology sector (ICT) fared well given the circumstances.

He observed that by August 2020, Zambia had not received any international tourists since March and during the first half of 2020, international passenger arrivals declined by more than half a million due to suspensions in international travel.

Dr. Kawesha said this decline was compounded by a drop in occupancy rates in hotels and restrictions on large gatherings.

He said in the ICT sector, areas that have seen an uptick include e-learning, online education, and e-governance as shoppers begin to self-isolate and avoid crowded areas, the clear winner is the e-commerce sector, with digital payment taking over a lot faster than the physical payment options.

“Nevertheless, the majority of enterprises are committed to continue operations by adhering to the new normal requirements to do businesses alongside Covid-19 threats.

“Enterprises have further resolved to adopt new development strategies by embracing and exploring new business models, accelerating technological, product and services innovation, and strengthening global reach of supply chain and expansion of overseas market,” Dr. Kawesha said.

He said to cushion the effects of the pandemic, the Government must balance health, monetary and fiscal policy with a top priority being the containment of the virus.

Dr Kawesha said the roll out of a vaccination programme would be key to achieving this goal; sectors such as tourism will struggle to recover otherwise.

However, both monetary and fiscal policy need to adjust adding that on the monetary policy side, the exchange rate and inflation rate need to be stabilized while a cogent debt management strategy must be operationalized on the fiscal side.

“The Government is aware of the destruction to productive capacities resulting from the impact of the pandemic on key drivers of sustained growth and has launched an Economic Recovery Programme (ERP) to guide policymaking in the period 2020-2023 and cushion the socio-economic impact of the pandemic.

“However, a robust monitoring and evaluation mechanism for the ERP will be important in tracking progress in cushioning the effects of COVID-19,” he said.

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The Information Communication Technology - ICT and

Mining

Mopani Copper Mines – MCM which was recently handed back to ZCCM IH under a local management team has continued to improve production month on month since the transition on April 1, 2021 producing 8,306 tons and 8,330 in April and May resulting in monthly revenues of about US$80 million

It’s monthly average revenues have continued to improve based on sustained month on month improvements as well as improved international prices of the commodity. Mopani copper mines produced copper worth about US$78,730,995 in May 2021 at the current market prices of US$ 9,451.50 on the London Metal Exchange (LME).

MCM public relations manager Nebert Mulenga said despite the various challenges imposed by the Covid-19 pandemic, the company was able to produce 8,306 tons of finished copper in April and 8,330 tons in May 2021.

Speaking in an interview with Zambian Business Times-ZBT, Mulenga said it is, however, important to note that the company was still producing below the required minimum production levels of 10,000 tons per month in order to sustain the business.

“I can confirm that we have continued to improve production month on month since the transition on April 1, 2021. Despite the various challenges imposed by the COVID-19 pandemic, we produced 8,306 tons of finished copper in April 2021 and 8,330 tons in May 2021.

“It is, however, important to note that we are still below the required production levels of 10,000 tons minimum per month in order to sustain the business,” he said. Mulenga said this requires that the company increases own-source production and reduce dependence on third party purchased material.

He said Mopani’s priority for now remains to stabilise operations and ensure that it improves production as it looks to commissioning its expansion projects in the near future.

“We are optimistically looking forward to the fruition of our investments in three new shafts (Synclinorium and Mindola Deep Shafts at Nkana and Henderson Shaft in Mufulira) as well as the brand new Synclinorium Concentrator,” he said.

Mulenga said once all projects are fully commissioned, the company was confident that it would see improvements in its production levels, efficiencies and safety, in addition to extending the life of the mines.

ZCCM-Investment Holdings (ZCCM-IH) in March 2021 became officially the majority owner of Mopani Copper Mines, a move that is in line with the company’s new strategic plan 2020 – 2026.

There has been calls for some copper mines to be Zambian owned so that the country can have some benchmark to use in the management of the entire industry. However, there are indications that Mopani May enter into a equity partnership agreement to improve its ability to raise cash on international markets to fund its completion of the Synclinorium Investments.

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Mopani Copper Mines - MCM which was

Sport

The Football Association of Zambia – FAZ has declined to comment on whether they will keep or sack the Zambia national football team Serbian coach Milutin ‘Micho’ Sredojevic. This follows calls and a vote of no confidence passed on the Serbian following his unconvincing stint.

When contacted by the Zambian Business Times – ZBT, FAZ Public Relations Manager Sydney Mugala refuse to state what course of action the association will take following the two embarrassing defeats at the hands of Lesotho and Swaziland at ongoing COSAFA tournament.

Mugala stated that “lets give them a chance and and see how they are going to perform in the next match. To make a good judgement on his performance and the performance of the Chipolopolo Boys, people must wait for all the matches to be played and thats when we will decide whether Micho must fired or not”

For now, FAZ has called on soccer fans to remain calm  and to remain supportive of the Chipolopolo boys.

A check on social media also shows that calls for the resignation of FAZ president Andrew Kamanga have re-ignited after a relative calm in the past few months. Soccer fans are dissatisfied with his administration whose achievements have mostly been in youth football and women’s football.

The Kamanga administration has seen the fancied Chipolopolo side miss playing at three consecutive African cup of nations in a row, a bitter pill to swallow for most soccer fans. Kamanga’s rise to the football hot seat had also been at the expense of Zambia’s soccer icon – Kalusha Bwalya, whose administration delivered Zambia’s first AFCON trophy in 2012.

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The Football Association of Zambia - FAZ