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Markets

Buses and Tax Owners Association of Zambia President Amis Daudi has hailed the Local Governments intention to relocate the Intercity Bus Terminus to Makeni Area, stating that this will decongest the CBD and create space for the buses to park.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Daudi said this will also enable for the creation of a modern structure which is purposely made to cutter for transport related activities.

“We don’t have parking space at the current Intercity Bus Terminus especially for those with a fleet of buses that have to ran one after another they have to find other alternative parking spaces, the modern structure will enable access to various goods and services that are required for the people and the buses,” he said.

Daudi remarked to the assertions by some members of the publics who criticized the planned initiative, by stating that the initiative is in good faith.

“The only way to decongest the CBD is to take away some of the activities to other areas, you can look at the business unit that have sprang up around Lusaka, you can look at the shopping malls that are being set up to decongest the CBD, and we must also look at decongesting the Intercity, and it will be take a bit of some time to get used, and even when we say it is central, this is relative to where one stays, because it is not central to those that stay in 6 miles or any other far place,” he said.

Daudi revealed that the Association has had several engagements with the Government over decongesting a number of bus stations in the district.

“The population of Lusaka has exploded we need to start looking at how well we can cutter for that, we have made some proposals in the past and preliminary discussions with other stakeholders that perhaps we need to establish more bus stations around Lusaka,” he said.

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Buses and Tax Owners Association of

Markets

Development Analyst Dr.  Charity Musamba has charged that the Ministry of Local Government and Rural Development does not have sufficient capacity to manage the Constituency Development Funds – CDF mechanism, which has consequently resulted into severe mismanagement.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Dr.  Musamba said the mechanism must be given to other ministries with more viable human resources.

“CDF is in the wrong Ministry that is how come they are failing to account for the resources and the capacity of the Ministry of Local Government and Rural Development is not adequate to manage the mechanism, it is only able to manage the political structures.”

Dr. Musamba said the Government must however thoroughly look at the research that have been conducted by the civil society, Government institutions, and other independent analysts before making a decision.

“We are not against development, that is why we are telling them openly based on evidence that the mechanism is not benefiting that Zambian who needs that money, it is not responsible to keep throwing money in a mechanism that is failing, and there lies the case that the President needs to consider,” she said.

Dr. Musamba has also criticized the introduction of SI No 1 of 2024 which allows for the inclusion of District Commissioners on the CDF Committee, calling it a bias towards benefiting those in the ruling structure.

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Development Analyst Dr.  Charity Musamba has charged

Tech

Energy expert Boniface Zulu has called for investments in nuclear energy, citing that it has the potential to stimulate economic growth by creating more jobs and eventually reducing the dependency on imported fuel.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Zulu said this will also foster the clean energy campaign, reducing greenhouse emissions and provide a reliable and stable source of energy.

He noted that to fully benefit from our identified resource deposits, it is essential to deepen the Country’s understanding of nuclear science.

“This involves investing in research, education, and infrastructure to harness nuclear technology effectively, substantially there is a gap in the sector in terms of nuclear scientists therefore there is an adequate need for investing in education which will culminate into a skilled workforce,” he said.

Zulu hailed the recent nuclear debate tabled on the floor of Parliament terming it as a huge step towards achieving maximum results, stating that such discussions will enable policy formulation and raise public awareness.

“Zambia is a member of the African Regional Cooperative Agreement for Research, Development, and Training related to Nuclear Science and Technology (AFRA). This membership allows Zambia to leverage regional expertise, collaborate on research projects, and access training programs to build local capacity in nuclear science and technology, the plan to build a 10MW Biomedical Plant in Chongwe, coordinated by the Zambia Atomic Energy Agency, aimed at enhancing medical research and treatment capabilities, the progress recorded includes site identification, environmental impact assessments, and the development of support structures,” he said.

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Energy expert Boniface Zulu has called for

Markets

The abrupt closure of Society Business Park has sent shockwaves through the local and international business community, leaving entrepreneurs like Emmanuel Nkole, popularly known as Young Phiroz, scrambling to find alternative accommodations for their ventures.

Following the announcement by the National Pension Scheme Authority – NAPSA Board of Trustees Chairperson, Shipango Mutelo that the entire business park, including the parkade, retail mall, and hotel tower, would be closed to ensure the safety of tenants and the public, concerns have arisen regarding the future of OVER 66 business ventures and the well-being of the workers.

Speaking in an exclusive interview with the Zambian Business Times (ZBT), Nkole expressed deep frustration over the lack of prior notice, emphasizing the significant impact the sudden closure has had on his boutique business and its 17 employees. “Relocating to another place is very difficult because then we will have to find a busy place with a lot of customers,” he stated.

Nkole’s sentiment is shared by numerous other tenants who now face the daunting task of relocating their operations with minimal time to prepare. The indefinite closure of SBT has not only disrupted their businesses but has also raised concerns about potential financial losses and the fate of their employees.

Nkole also expressed sympathy for fellow local entrepreneurs, particularly those with only one shop at the park, who may have to move their inventory home, resulting in further losses.

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The abrupt closure of Society Business Park

Companies

First Capital Bank Limited (FCB) Zambia and the Higher Education Loans and Scholarships Board (HELSB) have announced a memorandum of understanding aimed at providing student loans to Copperbelt University students as the entities champion education. Students will benefit from scholarship coverage for their third and fourth years of study.

Speaking on the collaboration, First Capital Bank Limited Chief Executive Officer, Andre Potgieter said, “We are delighted to announce this collaboration with the Higher Education Loans and Scholarships Board aligned with our commitment to create lasting positive impact in our communities.”

“As a proudly Zambian Bank that has been operating in the country for over 10 years, we continue to complement government efforts and see ourselves as a part of the solution to societal challenges like access to higher education that empowers the future generation.” Said Potgieter.

He added that over the last 6 years, First Capital Bank Limited has also been running a Graduate Trainee Program that integrates Copperbelt University and other University students into the Bank and more than 30 students have been on-boarded into the Bank.

The First Capital Bank Limited Graduate Trainee Program is open to high-performing Copperbelt University and other University students who join the Bank to have their talent nurtured through a well-structured career development program.

Commenting on the student loan scheme, Higher Education Loans and Scholarships Board Chief Executive Officer, Dr John Machayi said, it is gratifying to see entities like First Capital Bank agree to positive collaboration for the advancement of education in the country.

He said currently HELSB depends on funding from the Ministry of Finance and National Planning as appropriated by Parliament and loan recoveries from student loan beneficiaries.

“Over the years, the increased demand for higher education has not matched funding from the Treasury thereby creating pressure on the Board to source alternatives. We would like to thank First Capital Bank Limited and our co-operating partners supporting us in different initiatives as we call upon other organizations to emulate this value-adding initiative’’. He said.

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First Capital Bank Limited (FCB) Zambia and

Companies

Coca-Cola Beverages Zambia (CCBZ) has unveiled an exciting promotion, “Wina na Kapendelo ka Coke,” promising Zambians the chance to win weekly cash prizes from September 1 to November 30. This promotion offers Coca-Cola consumers the opportunity to win cash prizes ranging from K10 to K25,000 each week.

To enter the promotion, consumers can purchase Coca-Cola, Fanta, or Sprite in 300ml returnable glass bottles, and check under the yellow metal crown (Akapendelo) for a unique code and by dialing *38424# for free and following the prompts, participants can easily enter the competition, with over 5,300 winners expected each week.

Speaking at the media launch attended by the Zambian Business Times – ZBT, emphasized the company’s dedication to producing and distributing a diverse range of beverages that cater to consumers’ preferences.

He highlighted the commitment to offering a variety of drink choices across different categories and in various packages, all while taking a disciplined approach to product innovation and portfolio management.

“As a total beverage company, we are committed to offering people more of the drink choices they want across various categories and in various packages. Ever-evolving consumer tastes and preferences help steer our business strategy and shape the lineup of beverages we bring to market,” Mwangi said.

“We take a disciplined approach to product innovation and portfolio management, ensuring we develop and deliver preferred, great-tasting beverages for all occasions and lifestyles. This includes offering drinks with reduced added sugar and more brands with nutrition and wellness benefits; providing small package options and clear nutrition information on packaging and in our communications; and marketing our drinks responsibly.

“Our portfolio includes the iconic Coca-Cola, Coca-Cola Zero, Fanta, and Sprite; cordials such as Mazoe and Jolly Juice; and Aquasavana Water. Our unwavering commitment to quality and relentless pursuit of innovation drive us to enhance our offerings and continuously create meaningful customer experiences. Our purpose is to refresh Zambia daily and make the country a better place for all with our inclusive culture, reflecting our African Identity.

“Today, we proudly unveil the ‘Wina na Kapendelo ka Coke’ promotion. It embodies our promise to bring exciting opportunities to our consumers, with many winners set to share in the prize pool and enjoy an ice-cold Coca-Cola,” Mwangi said.

Coca–Cola Senior Manager, Frontline Marketing, Zambia & Namibia, Faith Nehanda said The “Wina na Kapendelo ka Coke” promotion embodies the spirit of celebration and winning, with the belief that the campaign will significantly impact Zambians’ lives nationwide.

“We are particularly excited about the ease and convenience of our prize delivery system. Airtime prizes will be sent directly to the recipient’s handset, and cash prizes will be transferred to the winner’s mobile wallet. This ensures our winners can quickly and securely enjoy their rewards, making the process seamless. You will see our winners coming from your communities and enjoying the prizes,” said,

“Our promotion’s ‘Wina na Kapendelo ka Coke’ embodies the spirit of celebration and winning. With over 5,300 winners each week, we believe this campaign will bring joy and significantly impact Zambians’ lives nationwide. Whether it’s paying for school fees, starting a small business, or simply making ends meet, these prizes can make a real difference and bring hope to our communities.”

Meanwhile, PACS Director of Coca-Cola Beverages Zambia, Fronscen Haloba in a speech ready by Coca-Cola Beverages Zambia, Marketing Director, Panji Banda said the “Wina na Kapendelo ka Coke” promotion is a way of giving back to consumers and expressing gratitude for their continued support.

“We are excited to embark on this journey with you, offering many chances to win and a total of K2.5 million in cash prizes. Your enthusiasm and participation are what make campaigns like these possible and successful. As we look forward to starting this promotion on 1 September 2024, I encourage everyone to participate and experience the joy of winning with Coca-Cola.” She said.

With the launch of “Wina na Kapendelo ka Coke,” Coca-Cola Beverages Zambia reaffirmed its promise to bring exciting opportunities to consumers, with many winners set to share in the prize pool and enjoy an ice-cold Coca-Cola.

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Coca-Cola Beverages Zambia (CCBZ) has unveiled an

Lifestyle

Zambia Council for Social Development – ZCSD, Executive Director says about 65% of children in Zambia are living in households where their basic requirements are not satisfied, making them victims of financial hardship.

Speaking in an exclusive interview, Zambia Council for Social Development Leah Mitaba said, this figure illustrates the extent of child poverty in the country as it shows how many young people lack proper access to basic necessities like food, shelter, healthcare, and education.

“Their long-term growth and prospects are impacted, in addition to their immediate well-being, by this pervasive deprivation. Children are Zambia’s future labor force and leaders, so resolving this issue is essential to the country’s overall development.” She said.

Mitaba further stated that there is a need for coordinated efforts in order to guarantee that these kids have access to the tools and chances they need to succeed.

She further alluded that Several factors have contributed to child poverty in Zambia like Economic instability, which could be characterized by high unemployment rates and low wages, thereby resulting in families struggling to meet basic needs.

“Education barriers, such as limited access to quality schooling, perpetuate the cycle of poverty, as children without proper education have fewer opportunities for economic advancement. Additionally, poor healthcare infrastructure and the high prevalence of diseases like HIV/AIDS affect household stability and children’s well-being.” She explained.

Mitaba further stated that the rural-urban division has exacerbated the issue, as rural areas are often experiencing more severe poverty due to a lack of infrastructure, and other economic opportunities compared to urban centers.

 Furthermore, Mitaba elaborated that political and social issues like corruption, poor governance, and inadequate social safety nets have hindered efforts to alleviate poverty by leaving many children vulnerable and deprived of essential resources.

“In addressing child poverty in Zambia, several solutions can be considered talk of Economic development policies that promote job creation, improving wages, and supporting small and medium enterprises (SMEs) are crucial for providing families with stable income sources. Increasing investment in education, particularly in rural areas, is also essential to ensure all children have access to quality schooling and can break the cycle of poverty, strengthening healthcare systems to provide better services and support for children and families will improve overall well-being and stability, expanding social protection programs, including cash transfers and food assistance, can provide immediate relief to vulnerable families and help them meet their basic needs. Engaging communities in development projects ensures that solutions are sustainable and tailored to local needs as well as fostering long-term empowerment and resilience.” She explained.

Furthermore, Mitaba said that to effectively tackle child poverty, Zambia has to take several strategic actions like Strengthening policy implementation, Fostering public-private partnerships, leveraging resources and expertise for greater impact as well as Involving local communities in decision-making processes.

She further called on the general public to look out for each other and practice Ubuntu.

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Zambia Council for Social Development – ZCSD,

Mining

Gold production at a Chinese mining firm operation in Zambia’s Chambishi district in the Copperbelt Province has dropped by about 30 percent in the first 6 months of 2024 compared to 2023 production for the same period.

According to the minerals production report obtained by the Zambian Business Times – ZBT, Gold production at the Non-Ferrous Corporation Africa Mining PLC (NFCA) has dropped to the lows of about 19.27 kilograms from about 26.86 kilograms in 2024 and 2023 respectively.

NFCA is majority-owned by China Non-ferrous Metals Company Limited (CNMC), which holds an 85% shareholding stake, while ZCCM – Investments Holdings holds a 15% shareholding stake.

NFCA produced 3.17, 2.68, 4.47, 3.16, 3.49, and 2.27 kilograms of Gold in January, February, March, April, May, and June respectively compared to 6.22, 6.05, 5.34, 4.53, 1.06, and 3.64 within the same period in 2023 representing about 30 percent decrease in production.

This is despite other private Gold Mining firms reporting an increase of over 50 percent from January to June 2024.

According to official statistics made available to the Zambian Business Times – ZBT, Kansanshi mine produced about 818 Kilograms of gold from January to June 2024 compared to about 521 kilograms produced within the same period in 2023 which represents about a 56 percent increase. 

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Gold production at a Chinese mining firm

Companies

The prolonged legal dispute between Absa Bank Zambia and the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) regarding the non-payment of terminal benefits to employees following the transition from Barclays Bank has sparked contentious concerns as the case has dragged on for over 3 years now.

Despite mounting pressure and allegations from some bodies regarding the financial capability of the ABSA group to fulfill these obligations, the legal process remains unresolved even after three years.

This protracted legal battle has attracted intense concerns, with implications reaching beyond the immediate parties involved. The recent lawsuit seeking a declaration of the transfer’s unlawfulness and the alleged attempt to mask the corporate transaction adds further complexity to the case.

Responding to the Zambian Business Times – ZBT, inquiry on ABSA Bank’s failure to pay terminal benefits during the changeover from Barclays Bank and if ABSA is considering settling this matter out of court or will the Bank continue to litigate through the courts, Absa Bank Zambia, Head – Marketing & Corporate Affairs, Mato Shimabale said Absa Bank Zambia PLC was unable to offer additional commentary on this matter as the court had not yet concluded its deliberations after 3 years.

“This case has been active in the courts for the last three years. In light of the ongoing legal process, Absa Bank Zambia PLC is unable to offer additional commentary on this matter until the court has concluded its deliberations.” He said.

ZAMBIA Union of Financial Institutions and Allied Workers (ZUFIAW) sued Barclays Bank Zambia and ABSA Bank Zambia, seeking a declaration that the unilateral and non-consensual transfer of unionized employees of Barclays Bank to the new entity, ABSA Bank, is unlawful, null and void.

This was after Barclays Bank Zambia PLC announced in 2020 the official change of its name to Absa Bank Zambia PLC.

ZUFIAW also wanted a declaration that the so-called name change from Barclays Bank Zambia to ABSA Bank Zambia was a sham intended to mask the real nature of the corporate transaction, being a transfer of the business undertaking from Barclays Bank Zambia to the ABSA Group Limited and therefore unlawful, null and void.

As the legal saga continues, other key questions that ZBT had put out to ABSA Bank Zambia were,
“Some of the employees who were supposed to be paid their terminal benefits complained and made ZBT aware that ABSA group has the financial capability to pay but it’s the Zambian management team that seems keen not to pay out, what is your response to these indications from some of your employees?”

Mato however said ABSA Bank Zambia, was unable to offer additional commentary on this matter until the court had concluded its deliberations.

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The prolonged legal dispute between Absa Bank

Tech

Eastern Province Permanent Secretary, Paul Thole has highlighted the low knowledge of Information and Communication Technology (ICT) products in the province, attributing it to illiteracy, lack of electricity, and low levels of disposable income among households.

According to a 2022 ZICTA report, Eastern Province scored 13.5 percent in terms of knowledge of mobile phones, 3.0 percent for computers, and 3.6 percent for laptops.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Thole emphasized that the lack of internet access in many far-flung areas was a result of the absence of electricity.

Thole pointed out that approximately 50 percent of Eastern Province, particularly areas from Chipata going northwards up to Chama North, previously had no access to the national grid.

“However, recent efforts have connected previously underserved areas such as Chipangali, Lundazi, Lunsenfwa, and Lumezi to electricity.”

The low levels of disposable income in households were also mentioned as a significant factor. Eastern Province heavily relies on agriculture, and Thole noted that the introduction of mining activities in the province could potentially improve livelihoods and subsequently enhance access to costly ICT products.

“Agriculture has been our primary source of livelihood, but the discovery of high-value minerals such as granite, copper, and lithium in almost every district has opened up new opportunities. The increase in artisanal mining activities, if properly regulated, could contribute to the locals’ disposable income, enabling them to afford ICT products and gain more knowledge,” stated Thole.

The potential for increased mining activities to uplift the economy and create new opportunities for the local population was highlighted as a crucial step forward in addressing the challenges of low ICT knowledge and access in Eastern Province.

“Agriculture has been our source of livelihood, it is only now that we are beginning to discover high-value minerals in almost every district, minerals like granite, copper, and lithium, and now we are beginning to see an increase in terms of artisanal mining and if we can a legalized marketing of these minerals so that the locals can benefit, by then they can be able to afford spare Income for the ICT products and gain more knowledge,” he said.

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Eastern Province Permanent Secretary, Paul Thole has