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Companies

Power utility, ZESCO has expressed concern at the alarming increase in the number of impersonators who pose as its workers and contractors when in actual sense they are not.

In a statement made available to Zambian Business Times ZBT, ZESCO Public relations Manager Hazel Zulu stated that the corporation would like to alert the general public that there is an increase in the number of people impersonating ZESCO employees and contractors.

“The Corporation has noted with concern an upsurge in schemes where some members of the public have been swindled by people pretending to be ZESCO employees and contractors purporting to offer ZESCO services such as processing of quotations, new connection applications, meter installations, meter replacement and fault resolution, at a fee.

“The public is hereby informed that ZESCO does not use agents to undertake the aforementioned services; neither does it charge extra fees to hasten the process of accessing the services. All ZESCO services regarding clearing faults and processing of quotations are FREE. Where certain services are paid for, an official receipt shall be issued at a duly recognized ZESCO Office or Customer Service Center”, she said.

Furthermore, she said that the company will not be held accountable for any losses that one may encounter from  fraudsters and has put down a list of credible source to attain services from ZESCO.

“ZESCO will not be held liable for any loss suffered by members of the public who become victims of fraud from unauthorized individuals. Members of the public are advised to report any suspicious conduct to the nearest Police Station or ZESCO offices”, she said.

Customers are therefore advised to access ZESCO services on the following platforms: National Call Centre, ZESCO Customer Service Centre, ZESCO Mobile App (Google Play Store/Apple App Store), ZESCO USSD Code *3600# and Other online platforms (Commercial banks, Kazang, Airtel, Mtn and Zamtel).

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Power utility, ZESCO has expressed concern at

Lifestyle

Stanbic Private Banking customers can now access services in the comfort of the newly built Quorum Private Banking Suite in Kabulonga effective from September 1, 2020.

The Quorum is Lusaka’s first Private Business Club conceived for discerning professionals and entrepreneurs who are passionate about networking in their businesses, their Industries allowing for growth in the Zambian economy.

In a statement made available to Zambian Business Times- ZBT, Stanbic Head Personal and Business Banking, Mwansa Mutati says the exclusive ultra-modern Quorum Private Banking Suite is part of Stanbic’s strategic objective to offer clients a superior Banking experience.

“As a Bank, we are exponentially growing, and constantly looking at better ways to serve our Customers in the most effective and efficient manner.

“Our customers are our main priority and we always strive for them to receive the best Customer experience each time they visit us. With the new location of the suite, we are confident that our Private Banking customers will continue to enjoy the Private Banking services and much more,” she said.

The new – suite is on the corner of Kabulonga Road and Martin Luther King Road in Lusaka and replaces the Taj Pamodzi Banking Suite.

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Stanbic Private Banking customers can now access

Mining

Glencore International AG, the majority shareholder of Mopani Copper Mines – Mopani has confirmed that it is in discussions with Zambian authorities regarding potential acquisition of additional shares by ZCCM IH.

Glencore Head of Communication Charles Watenphul exclusively told the Zambian Business Times – ZBT that “further to its recent disclosure that Mopani is engaging with the Zambian authorities, Glencore can confirm that it is in discussions with existing Mopani shareholder ZCCM-IH and other shareholders regarding the potential acquisition of additional shares by ZCCM-IH from Glencore. The discussions are progressing and further updates will be issued as appropriate.”

Mopani had recently had its request to put the two mines located in Kitwe and Mufulira on care and maintenance rejected for the second time by the ministry of mines. The Mine has been accused by the local Mine suppliers and contractors association of planning to relocate its procurement functions to South Africa, a move seen as a plot to further cut down on Zambian based Mine suppliers and contractors.

Analysts have questioned the true reasons behind Mopani request to place the Copper Mines on care and maintenance stating that the current reference copper prices per ton obtaining at the London Metal Exchange – LME is sufficient even for older underground Mines such as Mopani to profitable operate. 

When asked what the average price of production of copper per ton is for Mopani in Zambia, Watenphul declined to disclose stating that “we would do not disclose our production costs”. The average cost of copper production per ton against the obtaining market prices is used as a gauge to determine when operations become un-sustainable and justify the tough decision of placing the operations on care and maintenance. 

Glencore however stated in its half year report released on 6 August 2020 that “In Zambia, we have notified the government of our intention to place the Mopani mining operations on care and maintenance to help preserve the resource’s value and maintain optionality for when conditions improve. While our proposal has been rejected, Mopani has appealed the decision and we continue to engage with the relevant authorities to identify solutions on the way forward”.

Despite efforts to diversify the economy, copper mining remains the biggest contributor to Zambia accounting for over 70% of totals national exports. The performance of the copper mining and export industry in Zambia directly impacts on the country economic fortunes and wellbeing. The discovery of notable gold deposits in about three regions or provinces of Zambia promises to perhaps offer a real alternative to copper mining.

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Glencore International AG, the majority shareholder of

Tech

Zambia Information and Communication Technology Authority (ZICTA), has fined all the three mobile telecommunication companies for failing to meet the quality of service – QoS standards.

According to a statement made available to Zambian Business Times – ZBT, ZICTA Manager of corporate communication Ngabo Nankonde has disclosed that they have finned the three Mobile Network Operators (MNOs)- Airtel Zambia Plc, MTN Limited and Zamtel.

Airtel has been fined the highest amount with a total of ZMW 4.8 million for failing to meet the Qos  peremeters. Some of the specific reasons relate to poor service in Kalulushi and Lusaka, the call Drop Rate in Ndola, Chipata and Lusaka, HTTP download call set up success rate in Chipata and rate on 3G download in Chisamba

Zamtel received the second highest fine. The state owned MNO has been fined with a total of K450,000 for failing to meet the QoS parameter, i.e. Call setup success rate in Chingola, Lusaka and Kitwe and HTTP successful internet Log-ins in Chingola,Chipata and Kitwe.

MTN has been fine K225,000 for failing to meet the HTTP success internet log-in in Chipata, Ndola and Chisamba. MTN received the lowest fine of the three operating MNOs.

“In imposing these fines, the Authority took into account the MNO’s efforts to improve the quality of Service on their respective networks. The fines were imposed on the MNO’s on August 26, 2020 and a period of seven days was given within which the MNO’s should pay the fines.

ZBT had exclusively reported some lapse in the monitoring of QoS parameters in most districts which is only done periodically by “drive through process”. ZICTA further disclosed that some areas are not monitored monthly but on a quarterly basis which further confirmed the complaints coming from users in various towns and cities. ZICTA itself needs to do more and invest more to timely and efficiently monitor the quality of service across the country.

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Zambia Information and Communication Technology Authority (ZICTA),

Tech

With the raising number of COVID-19 cases in the country, companies are finding innovative ways to spread the awareness of waring a face mask to the general public. MTN Zambia is one of the companies leading the way.

In a press briefing attended by Zambian Business Times- ZBT MTN has on 31 August, 2020 launched their new campaign dubbed #WearItForMe . MTN Zambia Chief Executive Officer – CEO, Bart Hofker said that MTN has added a motherly touch in their campaign to further drive the message.

“We have included a mother figure in our campaign to reinforce the company’s message as our mothers play a big role when growing up”, he said. #WearItForMe is the next phase in MTN’s COVID-19 response under Y’ello Hope – MTN’s umbrella iniative which provides much- needed support during times of societal need.

Furthermore, MTN says as Africa and Middle East markets continue to work under the “new normal” which is caused by the pandemic, waring of a face mask continues to be one of the most effective way of slowing the spread of the virus. However, many people refuse to wear them, waer them incoreectly or fell it is not important to wear them.

The campaign will build the work already carried under Y’ello Hope to brighten lives and limit the impact of the pandemic. During this time, MTN has prioritized looking after its people, customers and communities while focusing on efficiencies to help navigate the pandemic and its effects.

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With the raising number of COVID-19 cases

Mining

Copperbelt Energy Corporation Plc (CEC) has in a statement made available to Zambian Business Times – ZBT, disclosed that they have welcomed the discharge by the Lusaka High Court of the interim injunction that had been granted on 3 June 2020 to ZESCO Limited (ZECSO) and Konkola Copper Mines Plc (KCM) against CEC following a joint ex parte application by the two parties.

CEC Managing Director Owen Silavwe Stated that the company has always held a view that agreements should always be respected to fulfill the interest of all businesses, investors and stakeholder.

“CEC has always held the view that commercial agreements should be honored and respected in the interest of all businesses, their investors and all other stakeholders. We reiterate that the parties [CEC, ZESCO and KCM] should engage in constructive dialogue to resolve these matters and remain expectant that KCM will come to the table with workable solutions on the discharge of their outstanding US$ 145 million debt to CEC.

“It is also important that firm agreements underpinning transactions in both the energy and mining industries should be in place for the proper functioning of the sectors and entities, and to engender certainty for commercial decisions,” he said.

This ruling follows the dismissal by the Kitwe High Court, on 31 July 2020, of the interim injunction brought by KCM against CEC to restrain the Company’s then intended restriction of power to KCM for failure to pay its outstanding debt to CEC for power it was supplied and consumed.

Meanwhile, CEC takes special note of the two rulings and, more importantly, remains desirous to see all the parties seize the opportunity to commit to an engagement process in good faith to enable equitable resolution of all the contentious matters in the shortest time possible.

Resolution of the debt, commercial contracts and all other outstanding matters is critical to all businesses, without which it will become more and more challenging to continue to provide reliable service.

ZESCO and KCM have since appealed the ruling and are pursuing other legal remedies.

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Copperbelt Energy Corporation Plc (CEC) has in

Mining

United Gypsum Investment limited, a locally based gypsum supplier has disclosed that the K20 to K25 price increase in retail 50kg cement prices should not be wholly blamed on gypsum prices as the commodity only accounts for about 5% or about K5 of the total price increase.

The cement manufacturing sector has been accused of forming a cartel following what looks like uniform price increase accords all major players, when the sector has different energy usage rates, energy sources (some use coal while other use electricity), different cost structures as well as different production capacity plants.

United Gypsum Investments has challenged cement companies in the country to be sincere and account for the other K15 to K20 price increase which has nothing to do with gypsum. “Gypsum is 5%, so from about K98 or K100 per 50kg bag of cement, if the input cost of gypsum increases from US$40 per ton to US$80 per ton, that should result in only about K5 (5% of K100) increase in retail prices.

The company however confirmed that Chambishi metals, which has since suspended production and is on care and maintenance, produced gypsum by-product was selling for about half the price and that cement companies have only recently started buying bulk gypsum from them [United Gypsum Investments] after the closure of Chambishi metals.

Chambishi Metals gypsum prices used to be about US$35 to US$40 per ton, but United Gypsum is selling for about US$80 per ton, so this is what has partly contributed to the hike in cement prices, according to Baudot Cement, who manufacture the Great Wall cement brand which is currently the most competitively priced cement product on the Zambian market

In an exclusive interview with Zambian Business Times – ZBT, United Gypsum Investment Limited General Manager Ali Ahmad disclosed that the company had not hiked prices but its the situation at Chambishi Metals that has resulted in some cement manufactures changing their source of gypsum to them.

Our gypsum prices have not changed as our cost of production is much higher. We are more specialised in supplying gypsum for Agro purposes and for roofing sheets. So, this bulk gypsum for cement is not our core business, but for now, we are supplying it to sustain the cement production and meet the demand to ensure cement production continues.

“Earlier this year, we approached all the cement factories and said guys, we can supply you the gypsum, our product has less moisture and might be more slightly expensive, but it’s natural and of high quality. They all said no thanks, you are too expensive”, he said.

And with the closure of Chambishi Metals, Ahmad said the cement manufacturers came back asking for the gypsum that they had rejected at first, saying the prices were much higher. That’s how this situation has come about. There has been no increase in our gypsum prices.

Furthermore he said that he remains loyal to his clients and is willing to sit on a round table to discuss how they can increase production and agree long term sustainable supply of bulk gypsum for cement producers.

“We have to agree on how best to proceed, if Chambishi Metals was to open today, some of these cement manufacturers would switch immediately and start buying from the mine, and what would happen to our investments in expanded production?”.

“Now the cement companies came to United Gypsum Investments saying they need our support. But the company has concentrated on Agricultural and roofing gypsum. Today on the market, Agricultural gypsum is sold at price range of between US$110 to US$140 per ton. But we agreed to sell bulk gypsum to cement companies at about US$80 per to support the emergency situation”.

“Like today, as a business, the people that are our long term customers have been from the agriculture market, these guys have been with us since we started. And agriculture is one of the main business in Zambia. I cannot say bye to them because I have new cement clients who we are not sure of their long term commitment, he said.

When asked by ZBT on whether they have capacity to supply gypsum at more competitive prices, Ahmad disclosed that they have the capacity and are willing to supply the gypsum for the cement factories but need to sit with both government and cement manufacturers to come up with a way forward.

United Gypsum stated that it is easy for Chambeshi Metals to sell gypsum at a lower price point because for them, it comes as a by-product of the main copper processing plant. But the natural gypsum is the best and of high quality for cement manufacturing.

The cement price hike has come at a time when least expected as key input cost variables such as energy costs, exchange rates and fuel prices have not changed to warrant the price increase.

The government agency responsible for consumer protection and anti-trust or anti-competitive market behavior – CCPC is yet to respond and issue a comprehensive investigation report as most of its key staff were said to be working from home due to covid 19.

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United Gypsum Investment limited, a locally based

Sport

There is no excuse for football clubs in Zambia to continue operating as charitable organizations with a one key sponsor mentality when they can function as profitable businesses, more so with the appointment of club Chief Executive Officers – CEOs and delinking of clubs from their main sponsors.

Puncherello Chama, a well-known sports enthusiast and socio media blogger has said that one huge advantage of the Zambian football league is that it is well organized, but there need for the clubs to up their marketing and sales strategies to be able to fill the stadiums, attract more sponsors and to get their players to be noticed at other more lucrative leagues to bring in more revenue from player transfers.

Speaking in an exclusive interview with Zambian Business Times – ZBT, Puncherello Chama says that there has to be a change in mentality for the Zambian football clubs to see themselves a business for them to stop relying heavily on one key Sponsor and be able to generate their own income as well as attract fans coming in numbers to watch the game.

“That has to do more with Marketing, that’s why we struggle to have people come for matches. Because clubs do not take themselves as businesses and it’s only until they take themselves as businesses, will we see more aggressive marketing efforts.

When they treat themselves as businesses, attracting more fans to increase and maximize on gate takings will become a key part of their business to generate more income. Now if one club is not seriously attracting paying fans, it is just concentrating on the sponsors money, it will become a disadvantage for that particular club”.

“As long as the mentally of the club management is not that of being a business, it can’t grow. They can’t even think of expanding their stadiums to get more paying fans and more marketing revenue. If the mentality slowly changes, then these other issues of having a packed stadium will start happening because, when you change your focus, you change the club into a business”, he said.

When asked whether the Zambian clubs have the capacity to have modernize their stadiums, he stressed that having a modern stadium is not a guarantee that people will turn up in numbers to watch the matches. It all trickles down to serious marketing and promotion activities.

“Yes there are cubs which can invest in a modern stadium. However even if you invest for example in  modern stadium, people will confuse that to people automatically turning up for matches if the stadium becomes better that is not the case. Yes, some people will, but not everyone”, he said.

A good example is that of NAPSA stars, who now play at Woodlands stadium. The venue is modernized, they are the only super league team which plays there, but do they attract huge crowd? Lusaka Dynamos play at the National Heroes Stadium which is a modern Stadium built in 2013, has the crowd increased? Do they have bigger crowds than other clubs who do not have modern stadiums?

Chama challenged the existing management teams at football clubs to grow their paying fans base and attract these fans to watch every game live to turn their clubs into fully fledged businesses. If you already have fans, having a modern stadium comes as a bonus.

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There is no excuse for football clubs

Companies

ZESCO has disclosed in a statement made available to the Zambian Business Times – ZBT that electricity utility has recorded a 37% reduction in cases of vandalism in the second quarter (Q2) of 2020.

Public Relations Manager Hazel Zulu told ZBT that the electricity giant has recorded a total of 190 cases of vandalism in the 2nd quarter of 2020 worth about K1 million compared to 261 cases in the 1st quarter of 2020 which was worth about K1.7 million. The most vandalized items were Transmission towers, transformers and copper cables.

However, ZESCO is still concerned and saddened that installations are still targeted by vandals despite recording a reduction in the number of vandalism cases. Because these electrical equipment require huge amounts of money and investment.

“We however, note with concern that, ZESCO installations have continued to fall prey to vandals despite recording a decrease in the number of vandalism cases. We are saddened by this development as it is not only detrimental to the development of the energy sector but the country at large. Electrical equipment involves huge amounts of money and investment and any acts of vandalism is retrogressive and takes the corporation and the country backwards”.

“We send a stern warning to perpetrators of such vices and reiterate that ZESCO will not relent in ensuring that the culprits are arrested and brought to book”, she said.

But on a lighter note, ZESCO is delighted to announce that the recent reduction in vandalism cases was also accompanied with several arrests made during the period under review.

”We are nonetheless, pleased to inform the public that ZESCO, working with relevant law enforcement agencies recorded a total of 69 arrests in the period under review, compared to the 47 arrests recorded in the previous quarter. Furthermore, the corporation managed to secure 15 Convictions while 48 cases were active in the courts of law”, she said.

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ZESCO has disclosed in a statement made

Markets

The Copperbelt University – CBU Economist Dr. Stephen Mpembele has charged that Zambia is likely to end up with a reduce debt capacity if its Gross Domestic Product – GDP is not rebased and remains low as the capacity to borrow is dependent on how much GDP the country is generating.

Dr. Mpembele told the Zambian Business Times – ZBT in an exclusive interview that failure by government to quicken the process of rebasing GDP will disadvantage the country from borrowing beyond the threshold of its current GDP, hence has urged those in authority to expedite the process if growth is to be recorded.

He said, given the change experienced in certain economic sectors, it is paramount to measure what’s currently taking place in the country as doing so will enable capture every economic activity including those that did not exist at the time the last GDP update was done.

“For example, if our GDP is at US$26 billion, you can only borrow up to a certain proportion of that, but when you capture certain activities which were not there, you’re adding growth to your country, and if it was to be done now it, and it reaches say about US$50 billion, it would qualify the country to borrow more and government income will also go up,” He said.

He added that for instance, the adoption of financial technology which has enabled mobile banking is one of the recent economic developments that has recorded phenomenal growth. The previous GDP measures or computations in the banking and financial services sector were only dependent on commercial banks.

But look at the contribution that mobile banking has brought on onboard, and the annual growth rates it has continued to record. Hence the need to include mobile banking activities in the GDP computation which have in the past shown tremendous growth in terms of revenues and financial inclusion. Its a sector that would also add more to the overall GDP numbers.

Dr. Mpembele said rebasing the GDP gives a fresh start to the economy and gives a clear understanding of the value of goods and services in a country thereby opening up doors for investors in the country.

He noted that GDP rebasing is an expensive undertaking which requires a lot of money but the value derived from rebasing far outweighs the costs, hence has asked government to find ways of sourcing for funds from both the treasury and from its corporation partners to ensure the exercise is executed as soon as possible. Its an important exercise that needs to be given due and timely consideration.

The Zambian Statistical agency had in 2019 projected that rebasing the GDP would cost about US$5 million. Some analysts have called for the national census exercise to not only be restricted to population and housing stats, but also include collection of economic data that could be utilized for economic planning purposes and possible GDP rebasing every decade.

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The Copperbelt University – CBU Economist Dr.