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The Ministry of Science and Technology Permanent Secretary, Dr. Brilliant Habeenzu, has raised concerns about the significant impact of load-shedding on the Information and communication technology – ICT sector in Zambia which has also caused a decline in employment opportunities.

Speaking in an exclusive interview with the Zambian Business Times (ZBT), Dr. Habeenzu emphasized the sector’s heavy reliance on hydropower and the adverse effects of load-shedding.

he disclosed that the Mobile Network Operators – MNOs are now spending over K46 million on fuel compared to only K10 million before the onset of load-shedding.

Citing the ZICTA Mid-year report, Dr. Habeenzu highlighted that although the employment for ICT licensed operators showed a modest increase from 2,376 in 2023 to 2,402 in 2024, the growth rate of 1.1 percent is indicative of the challenges faced by the sector.

He mentioned that companies are now spending over K46 million per month on fuel, a significant increase from the initial K10 million per month, underlining the financial strain caused by the energy crisis.

Dr. Habeenzu further explained that, “The ICT sector is dependent on the energy sector. If we are unable to power this, it will significantly affect services like mobile money transactions, which in turn impacts formal and informal employment. Load-shedding has led to major disruptions, causing a setback in the sector’s growth.”

Asked about the intervention of the Government towards promoting renewable to ICT operators he stated “the MNOs know already that they need to invest in lithium batteries and solar energy to have the sites running and provide equitable services to the general public.”

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The Ministry of Science and Technology Permanent

Companies

FNB Zambia has launched a comprehensive solar transition project in response to the ongoing energy challenges affecting the nation. As part of its energy crisis management initiative, the bank is transitioning its branches to solar power across the country, beginning with three sites—two in Lusaka and one in Mkushi—while identifying five more locations for implementation in the near future. This strategic move underscores the Bank’s commitment to ensuring uninterrupted service for its customers and supporting the national push for sustainable energy solutions.

As energy disruptions continue to impact various sectors, FNB Zambia is prioritizing reliable power solutions to maintain high service standards for its clients. The solar project, which will also incorporate genset installations at some branches, is designed to strengthen the bank’s operational resilience, ensuring that FNBZ branches remain accessible and operational even during power outages.

“Our decision to invest in solar energy is both a strategic and responsible approach to the current energy challenges. As a leading financial institution, it is imperative that we offer our clients consistent service at all times,” said FNB Zambia CEO, – Kapumpe Chola. “This transition is part of our broader commitment to sustainable practices and operational efficiency. It’s about ensuring business continuity and being part of the solution in Zambia’s energy space.”

The bank’s journey began with solar installations at its Kalumbila branch in North-Western Province. Since then, three (3) branches: Lusaka Private Suite, Kabulonga Branch, Mkushi Branch have been completed. Kabwe Branch, Kitwe Private Suite, and Choma Branch are the sites expected to be operational in the coming weeks. The next phase will focus on five additional sites, including Livingstone and the FNB Head Office, where space constraints and logistical considerations are being actively managed to accommodate the new infrastructure. Genset installations are also being prioritized at key locations to complement the solar systems and provide a robust energy backup.

Addressing the Challenges: FNB’s efforts to transition to solar have not been without challenges, particularly with building landlords who are increasingly overwhelmed by tenant demands for solar structures. “We’re taking a collaborative approach with landlords to find mutually beneficial solutions that will not compromise building integrity,” the CEO added.

Looking Forward: The bank is committed to keeping clients and stakeholders updated on the progress of this project through regular communication and public updates.

“Ultimately, our goal is to lead the way in energy resilience and sustainability for the financial sector in Zambia. As we expand this initiative to more branches, we look forward to contributing to a more stable and sustainable energy environment,” said the CEO.

The transition is expected to significantly reduce FNB’s dependency on the national power grid, providing a long-term solution to energy disruptions while aligning with global sustainability trends.

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FNB Zambia has launched a comprehensive solar

Agribusiness

Kalene Hills Fruit Factory has disclosed that the factory is scheduled to resume fruit processing by the end of October 2024.

Speaking in an exclusive interview with the Zambian Business Times -ZBT, Kalene Hills Fruit Factory Acting General Manager Kelvin Musonda said, they will resume purchasing pineapples once the factory resumes fruit processing, stating that pineapples are perishable fruits which they only purchase when they are producing.

“We started production of pineapple juice last year in September as a trial run. Production of juice is a process as we do not just produce and release it on the market, so the first time we produced was September, and the second time we produced was February this year as a commercial product which also went out for sale.” He said.

Musonda added that after they produced in February this year they had to give it another month, two weeks to see whether it met all the stipulated standards of a product to be sold on the market.

“The out-growers scheme is not yet actualized, so what we are doing right now is just buying directly from the farmers.” He said.

Musonda further disclosed that on their database they currently have about 6000 farmers spread across feed input for the plant.

“I must indicate that the plant capacity is about 3 tons per hour that’s on the feed input on the processing side.” He said.

Musonda further stated that one of the challenges that they have encountered as a plant is the lack of availability of pineapples when they want to produce as it is one of the factors that affect processing as pineapples are seasonal fruits.

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Kalene Hills Fruit Factory has disclosed that

Markets

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