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The cost of living for an average family of five in Lusaka has increased by K212 from K5, 331 in February 2019 to K5, 543 in Match 2019, the Jesuit Center for Theological Reflection – JCTR has revealed.

According to the JCTR latest Basic Needs Basket – BNB report issued to the Zambian Business Times – ZBT,  JCTR Programmes officer Chanda Chileshe stated that the most significant increases were recorded in the price of charcoal which increased by K27 from K132 in February to K159 in March per 90kg bag. Most of Zambia’s households still rely on charcoal as an energy source for cooking and heating.

Chileshe said the center has noted that the cost of food items on the market has continued to increase and remained high with an increase to K1, 657.15 in March, up from K1, 495 .86 in February 2019,  making it unaffordable for many households.

He disclosed that Zambia has been encountering adverse effects of changing weather patterns that have comprised of dry seasons, increased temperatures and flash floods hence this has threatened food security in the country and is resulting in hunger and increased price of key staple foods like maize.

“JCTR has always cautioned government on the need to diversify the agriculture sector, as this may stabilize domestic prices of essential food commodities and produce sufficient food for the whole year even in the face of changing climatic conditions, however, the government has been slow to actualize diversification and this has had perennial negative effects on prices of basic household essentials,” he said.

The BNB report also showed that mealie meal prices increased by K14 from K86 in February to K100 in March for a 25 kg bag, green vegetables increased by K5 from K8 in February to K13 in March, Sugar increased by K1.5 from K25.5 in February to K27 in March per 2 kg.

Some reductions were however recorded in the price of fish which reduced by K13.5 from K140 in February to K126.5 in March per Kg and Tea reduced by K 25.5 from K96 in February to K70.5 in March per Kg. He added that the increase in the price of mealie meal was due to the scarcity of maize on the market adding that the two factors accounted for this scarcity are the reduced maize stocks at this time of year and the lifting of the mealie meal export ban.

The report stated that the lifting of the maize and mealie meal export ban was done abruptly and without careful considerations of its impact on the cost of mealie meal locally hence the center the center is happy to have learnt that government has now reversed its position on the export ban.

He reiterated that the increase in the price of charcoal is attributed to high transport costs that are being incurred when transporting charcoal while the reduction in the price of fish is attributed to increased supply of the commodity on the market after the rainy season as well as the small scale fish farming output.

JCTR has also urged government to promote agriculture diversification other than concentrating on maize production as maize is a political crop and too much reliance on it will affect the country’s food security negatively especially during this time of harsh climatic conditions which do not guarantee to a good maize harvest.

He further said the addition of new crops or cropping systems to agricultural production is a sustainable solution to food security and an addition to the farmer’s income hence the need for government to work with farmers and the private sectors to promote crop diversification.

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The cost of living for an average

Tech

BlueCloud is set to start offering a plug and play cloud based application in Zambia to contribute to technological improvements and enabling businesses to implement call centre and telesales marketing systems for their busineses instantly.

Born in Mauritius but living in Australia, Antoine Nookadu who is the founder and current director of BlueCloud Australia has spent 32 years abroad and holds a track record in Strategic Business Management, Sales & Marketing.

Nookadu was instrumental at developing a reseller network in the Philippines, Australia and New Zealand. BlueCloud UK was launched in 2018 and is also another major accomplishment which exposes BlueCloud to the Euro market.

Nookadu told the Zambian Business Times – ZBT in an exclusive interview that BlueCloud is a very simple to use application and designed for the non-techies.

“If you have a call centre or telemarketing team working on the phone, you will require clients’ information to display in front of you during a call. Traditionally, servers are used to host CRM applications as well as PABX Systems to handle calls.

“Imagine a solution which does not require large IT Teams, servers, security, applications and service agreements. Plugging to the cloud makes it possible to not only save money but also streamline your operations and allow the owners total visibility. Any Where, Any time, Any Device”

Nookadu says that he will be based in Mauritius as he opens this new region and plans to deploy a technical support team in the 3rd quarter of 2019 which will help support French speaking countries both in Africa and Europe in the near future.

BlueCloud Australia is the licensing company – based in Sydney Australia with a portfolio of licenses globally and terminating calls in more than 20 countries. It also holds sales offices in the Phillipines, Australia & NZ, the United Kingdom and now Africa.

BPO campaigns run on the BlueCloud platform globally include Amnesty International, Rams, Qantas, NAB, Allied, B2B and H2C (German Affiliate here in Mauritius) and many more.

The BlueCloud Founder told ZBT he is offering Zambian companies a plug and play cloud-based Contact Centre application which delivers an integrated CRM and telephony solution. BlueCloud can be implemented in only a few hours and is available on a subscription basis (no contracts) at the low rate of Euro 40 per seat – prepaid monthly.

This means that with good internet, a call centre or telemarketing can cut down technology costs by 2/3.

“If you are running a telemarketing team in-house, a customer service team, have an inhouse sales department or simply a research team, BlueCloud will make it very simple for you to conduct both inbound and outbound calls handling activities.

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BlueCloud is set to start offering a

Markets

The Zambia National Commercial Bank – ZANACO has projected that the country’s economic growth rate will slow down in the years 2019 and 2020 due to various factors among them poor rainfall pattern experienced in the southern part of the country.

The commercial Banks Global Economic Review and outlook report for the month of March 2019 made available to the Zambia Business Times -ZBT has indicated that poor rainfall pattern will negatively impact growth through reduced crop yield in 2018/2019 season as well as reduced power production at Zambia’s hydro power plants.

It is expected that faster dwindling water levels at Kariba dam, Zambia’s largest water reservoir, will limit the country’s ability to generate adequate power to meet its needs.

Consequently, Zanaco anticipates that Zambia’s utility operator ZESCO will start rationing power supply thereby adversely impacting economic activity. For example, water levels at Kariba dam are now 35% full compared to 61% full during the same period in 2018

The Zambian economy will also grow by 3.4% in 2019 and 3.6% in 2020, 0.8% and 0.7% lower than our earlier projections.

However, the fiscal challenges facing the government as debt service obligations mount will continue to exert pressure on the government to cut expenditure on key sectors which is likely to hurt economic growth.

High frequency data has also suggested that domestic economic activity returned to its now familiar territory in March 2019 after posting gains in February 2019, thereby ending Q1 2019 on a subdued note.

The Stanbic Markit PMI, a measure of private economic activity dipped below the benchmark of 50 falling by 4.6% to 48.1 in March from 50.4 in February 2019. The deterioration in economic activity is attributed to decreased demand for goods and services as slowing economic activity starts affecting household and business incomes.

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The Zambia National Commercial Bank – ZANACO

Agribusiness

Zambia National Farmers’ Union (ZNFU) president Jervis Zimba has called on government to invest in modernizing the Zambia Meteorological Department (ZMD) so that the department can improve on the information that they channel out and release to the public.

Zimba said in April 2019 that there is need to invest in latest machinery and equipment that would allow ZMD to capture appropriate and accurate data. He says a farmer is highly dependent on reliable weather information. It is therefore important that this information is imparted to farmers in good time and in a simplified format.

“In fact, our Meteorological Department is our first line of defense in mitigating against climate change because as a farmer, I will be able to determine when to plant and what seed varieties to go for based on information coming out of this Government Department.

Zimba has also called on the country to embrace youths in farming at an early age so that they develop the interest and learn the skills to easily carry the country’s load in future.

The union president said the number of youths between the ages of 15 and 35 years is placed at about 4.8 million and is the largest population of young people in the history of the country.

He said as the country makes advancements in agricultural growth, there is need to ensure that the youth become major players in agricultural activities but that youths need incentives to enable them participate in the agriculture sector.

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Zambia National Farmers’ Union (ZNFU) president Jervis

Agribusiness

President Edgar Lungu has called on millers in the country to invest in their own storage sheds and stop their dependency on the Food Reserve Agency- FRA to supply them with maize for their businesses.

The President has observed that millers have been leaning heavily on FRA to supply them with maize instead of getting in the fields and far flung areas to buy their own grain from farmers.

“Millers should stop relying on maize from government through FRA but instead should invest in their own storage facilities in strategic farming areas because in future, millers will find it very hard to purchase maize from FRA,” Lungu warned in April 2019.

The head of state said this when he was making an address during the National Field Day in Kapisha, Chief Mibenge’s area in Mansa.

And President Lungu had called on the Food Reserve Agency (FRA) to pay farmers competitive prices for their grain during the 2019 marketing period compared to K70 per 50 kilogram bag of maize that was being paid in the 2018 farming season.

The head of state has noted challenges delayed payments to farmers is costing them and has since called on FRA to pay farmers competitive prices and on time.

Lungu has also prodded the Ministry of Agriculture and the Ministry of Finance to work together and sort out what the perennial problems of delayed payments to farmers and suppliers of the inputs.

He said he would like to see inputs distributed before the onset of rains and has since urged the Ministry of Agriculture to conclude negotiations with inputs suppliers by May so that in turn inputs would be distributed on time.

“The country will not export mealie meal until it has ascertained that there is enough maize and mealie meal for the country, for that reason, excess grain will only be exported after harvest,” he added.

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President Edgar Lungu has called on millers

Agribusiness

The Citizen Economic Empowerment Commission – CEEC has spent over K318 million through its aquaculture seed fund, cassava integration fund, matching grand facility and industry development under skills development and entrepreneurship projects.

Since the commission’s operations in 2008 it has spent K318 million and financed 2,988 projects across the country which have been following a policy of geographic equity since 2014.

Speaking at a media briefing in Lusaka on April 23th ,2019 attended by the Zambian Business Times – ZBT, CEEC Director General Likando Mukumbuta said the distribution of resources in the projects done, 34% has gone to women, 27% has gone to youths while 1% has gone to the physically challenged.

Mr Mukumbuta added that the commission has in total spent 62% to women and youths who are its focus adding the empowerment of women and youths is critical to economic development in Zambia as over 65% of the countries’ population constitutes of women and young people.

He disclosed that 12,000 jobs will be created in the country through its cassava fund programme adding that 24 cassava processing companies have been approved for funding in order to boost the cassava value chain.

He said it is for this reason that the commission has selected over 500 women to be trained in cassava commercialization and will be organized comparatively. He further said that 120 cassava seed multipliers have been appointed and trained while 66 palates have been produced through Zambia Agriculture Research Institute – ZARI for the cassava seed multipliers.

“We are also providing loans which will go along with technical assistance mainly referred to as business development support in order to provide access to finance for our citizens and to provide them with the business support that is necessary for them to grow their business,” he said.

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The Citizen Economic Empowerment Commission – CEEC

Mining

Konkola Copper Mine – KCM has refuted allegations by the Mine Workers Union of Zambia – MUZ President Joseph Chewe stating that the mine has cut 11,000 jobs from the 15,000 that the mine had.

The information comes after the MUZ President Joseph Chewe disclosed To the media on April 24th, 2019 that KCM has cut 11,000 jobs despite promises that the company will create and maintain 15,000 when it first started its operations in Zambia.

And KCM General Manager of Corporate Affairs Eugene Chungu told Zambian Business Times – ZBT that the accusations made against the mine are erroneous as jobs at the cite had not been lost but moved the role from KCM to contractor roles of which jobs are still available except are being done by contractors.

Chungu disclosed that from the time Vendeta took over the company in 2004 the number of direct employees at KCM were 10556 while contractor numbers were 3170 adding that over the years the number of contractors had increased while KCM employees reduced.

He added that currently KCM has 6,300 direct employees while the contractor numbers increased from 3,170 to over 10,000.

“When you say that KCM has cut 11,000 jobs, it is inaccurate because you have to look at the jobs that were there and understand that the jobs never got lost but moved to contractor roles hence, they are still available,” he said.

The mine has however appealed to MUZ president not to speak in a manner that will mislead people but focus on pulling stakeholders to grow the economy and production adding that such news is likely to harm the country’s economy.

“We intend to engage MUZ president Chewe because it is important to work together and pull in the same direction, when you speak like that it does not only harm KCM but also the economy as fake news may be believed to be credible hence create bad opinions for to mine entities and the country at large,” he said.

He further said KCM is committed to growing the mining sector and will continue engaging MUZ in benefits of growing the industry.

Meanwhile, MUZ president has challenged KCM to provide correct statistics of its current employees and disclose the number of those that are directly engaged saying the figures he disclosed were the correct figures that the union has.

In a separate exclusive interview with ZBT, Chewe reiterated that from the time Vendeta took over the running of the company, it had over 15,000 direct employees but currently only less than 4,000 direct employees left.

“If KCM is counting the number of contractors working in the mines, it is not true, if government can count the number of workers at Avic and say we have so many workers is that true? So KCM should count on the numbers that are in their books and not the workers that are in the books of their contractors,” he said.

Chewe has further asked KCM to categorize the number of direct employees into those that are unionized workers and the senior staff in order to provide correct information.

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Konkola Copper Mine – KCM has refuted

Markets

The Board of Directors of Cavmont Capital Holdings Zambia issued a profit warning to the market stating that that the Earnings per Share for the six-month period to 31 December 2018 is expected to be about 5,655% lower as compared to that for the six-month period to 31 December 2017.

In a profit warning note availed to the Zambian Business Times – ZBT signed by company secretary, Rita Mapara-Ndhlovu, Cavmont stated that the decrease in profitability is attributed to increased impairment charges and operating expenses.
Impairment charges for the period are higher mainly on account of the implementation of IFRS 9 on 1 July 2018, which increased impairment provisions across the entire industry.

Mapara-Ndhlovu further stated that operating expenses increased by K19.5m (about US$1.6 million) year-on-year on the back of increased investment in infrastructure and in hiring of staff in order to upskill the group’s workforce which included the on-boarding of key new human capital resources as a performance enhancement strategy and to remain relevant within the industry.

Analysts have pointed to Loan impairments in 2017 to 2018 have weighed down heavily on most commercial banks, a factor that has led to limited to no growth in private sector lending space, a key driver for the financial services industry. Government arrears is another area were the industry had faced challenges as liquidity for loan repayments had been locked into goods and services to the government.

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The Board of Directors of Cavmont Capital

Markets

The Bank of Zambia – BOZ has refuted claims circulating on local news outlets stating that the Bank has lost containers full of newly minted currency worth more than K68 million in mid April 2019.

The cash is said to have been shipped from Munich Germany by a printing company Giesecke Devrient currency last week (mid April 2019). Bank of Zambia – BOZ Public Relations Manager Kanguya Mayondi told Zambian Business Times – ZBT in an exclusive interview that the information circulating on media platforms is not true as the bank has not lost any amount of money.

He said the force information coming from the media outlets is erroneous and likely to mislead the audience as individuals circulating the claims are not even aware about the amount of money the central bank holds.

“Those claiming that K68 million has gone missing at the bank probably don’t even know how that amount of money looks like hence it should not be something to warry people because that information is not true and it will never happen at the central bank,” he said.

Meanwhile, commenting on matter, National Democratic Congress – NDC spokesperson Saboi Emboele said the information circulating on social media platforms could be true as this is not the first time the Boz has had rumors of misplacing money.

She said told ZBT in separate interview that previously rumors arrived from the public domain that Boz had spent K49 million for buy-election hence it is possible that the K68 million could also have been spent on the just ended by-elections.

“ It is evident that a lot of money has been missing in our country and government is doing nothing about it so If the K68 million has gone missing at the BOZ, it makes sense because if K49 million was said to have been used for buy-elections then it is also possible that the K68 million went towards the just ended buy-election” she said.

She adds that government officials should be accountable to their positions adding that cases of money disappearance in the country are likely to cause public outrage in a nation that has long been dogged by corruption scandals.

She has however called on law enforcement forces to take serious investigations on the matter and ensure that those involved are brought to book without fail.

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The Bank of Zambia - BOZ has

Mining

Zambia Congress of Trade Union – ZCTU has observed that some mining firms in the country are in a habit of dodging from paying tax as expected, hence causing illicit financial flows to and from the Zambian economy.

ZCTU Deputy Director for Research Muleka Kamanisha told Zambian Business Times – ZBT in April 2019 in an exclusive interview that the Union mother body is saddened with reports from the public indicating that the country is losing huge amount of revenue from some mining companies through tax manipulation.

Mulekwa attributed to a recent report by Zambia Revenue Authority – ZRA stating that a single mine from North western province was owing government US$ 7.8 billion as evidence hence the need for government to quickly attend to this matter.

He said some projects being undertaken by the mining firms are ways of dodging from paying tax as most of them are not centered to help people from sounding areas or improve productivity of the mines.

He added that the money being spent on the social corporate responsibility programmes should not be an excuse to deprive government of tax revenues as it is every company’s responsibility. They are using most of their corporate social responsibility budgets without clear outlines, hence end up acting like they have spent more and pay less to government.

He said it is impossible for a mining company to extract copper without a buy-product such as cobalt and this should be a concern for government to track down records of cobalt as it is a high value product.

“When you look at the price of cobalt on the world market, it is ten times more than copper, copper is currently in the range of US$6,000 per tonne while cobalt is over US$50,000 per tonne, so there is a concern as to whether these mines are really giving us correct records of what is being extracted or we are being mislead,” he said.

Kamanisha has however called on government to create a mechanism of monitoring how much copper is exported from the mines as a way of holding them accountable as this will lessen the linkages in tax revenue. He further asked Zambians working in these mines to act as whistle blowers and practice patriotism by monitoring what surrounds them.

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Zambia Congress of Trade Union - ZCTU