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Falling water levels in Kariba have necessitated Maamba Collieries Ltd (MCL) to relocate its pumps to a new location in the Kariba Lake to provide water essential for the boilers of its 300-Megawatt power plant.

MCL runs two power-generating units, with a capacity of 150 MW each of which consumes about 9,000 cubic meters of water a day when running at full capacity. Low rainfall during the last rain season caused water levels at the primary location of the pump station in Lake Kariba to drop dramatically from the usual 9-meter depths to zero levels leading to the water at the pumps running dry.

Mindful of the power crisis in the country and the need to generate essential power, MCL redeployed its pumps to a new location to keep the thermal plant of the nation’s largest independent Power Producer – IPP operation at the full capacity and avoid further load shedding.

However, the water at the temporary pump station set up about 400m from the original suction point, also dried up last year, despite dredging efforts to sustain water depths.

Speaking to the media, Maamba Development Trust Manager Jethro Sikalundu said: ‘‘We have been experiencing very low rainfall in this part of the country this year and that has impacted us heavily to the point where we have lost the depth completely at our original pump site. When water levels started reducing following last year’s drought, we had to move quickly and establish an alternative temporary pumping station -400 meters from the original site. We installed four pumps each with a capacity to pump 500 cubic meters of water an hour to the power plant 28km away,’’ he said.

Sikalundu further explained that despite dredging, the temporary pumping site also ran dry, forcing yet another relocation of the pumps further up the lake in deeper waters. With the urgency of the situation, the MCL swung into action and within three weeks created infrastructure including temporary power lines and sub-stations, creating a road to transfer the heavy pumps and laying high capacity pipelines to install the two- 132Kw pumps at an alternative pumping point further up the lake to keep the plant operating at full capacity.

Meanwhile, Mining manager Scott Phiri, who led the team in the execution of the work, said: ‘‘Installing the pumps at a deeper location was not easy in crocodile-and hippo infested infrastructure waters, as these had to keep at bay as men worked in knee-deep waters. We often had to seek the assistance of wildlife wardens to ensure safety,’’ he said.

Some stakeholders have attributed the low water levels at Kariba dam, the country’s largest hydro power generation reservoir to large water diversion from both large scale Agro activities and industrial use, which Maamba has also been sighted as the main contributor to diminishing water levels.

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Falling water levels in Kariba have necessitated

Tech

The Competition and Consumer Protection Commission – CCPC has with the Zambia Compulsory Standards Agency – ZCSA and Ministry of Health instituted a countrywide exercise aimed at removing pilchard products from the Zambian market.

This follows a warning from the COMESA Competition Commission – CCC to CCPC Pursuit to Article 30 (1) (b) of the COMESA Competition Regulations to warn the general public against consuming canned pilchards in tomato and chili source products from South Africa that are alleged to be unfit for human consumption.

The concern comes after the National Regulator for Compulsory Specifications – NRCS in South Africa ordered a national recall of all 400 grams pilchards products which were found to have been compromised during the source filling process and could thereby affect consumers.

Some of the affected brands which the investigation identified include, Deep Catch, Mamas, Ok Housebran, Prime Ocean, Spar, Sunny, Cape point, Checkers, House brand, U brand, and West point all manufactured by West point processors in Cape Town, South Africa.

The Commission has to this effect in conjunction with other stakeholders commenced an exercise which will ensure such products that may have penetrated on the Zambian market are removed from the shelves.

In a statement made available to the Zambian Business Times – ZBT by the CCC Communications Officer Ranford Mutabi, the commission has directed all wholesalers, supermarkets, distributors, retailers, importers and traders to remove and surrender to the nearest Public Health Office of every council all affected pilchard products which have can tops bearing markings starting from with ZST29 an ZSC29 respectively.

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The Competition and Consumer Protection Commission –

Lifestyle

As the commemoration of the international women’s day approaches on March 8th, 2020, it is worth celebrating the role women have continued to play in developing the nation and the world at large. The University of Zambia – UNZA as one of the highest institution of learning in Zambia has again recognized a outstanding woman.

The UNZA Council has appointed Dr. Tamara Kambikambi as Deputy Vice Chancellor (DVC) replacing Prof. Enala Tembo Mwase whose term of office came to an end on 28th February 2020, after serving the institution for seven years in her capacity as DVC and (VC) for a one year period between June 2015 and June 2016.

Dr. Kambikambi holds a PhD in Agronomy from UNZA (2015). She also holds a Masters and a Bachelor’s Degree in Agricultural Science both obtained from the University of Zambia. Dr. Kambikambi started her career in academia in 1996, at the University of Zambia, rising through the ranks to Senior Lecturer level.

In an exclusive interview with Zambian business times- ZBT, on February 3rd 2020 at the University of Zambia, Dr Kambikambi expressed gratitude to the University for giving her a rare appointment for the women folk. She pledged to work hard and smart to effectively contribute to the highest learning institution in Zambia and called for collaboration with both men and women.

“In this world, we were made male and female, that means we need to work together. But I think what we need to do as women, is to stop second guessing ourselves and always being in doubt, we need to be assertive, but to be assertive, it means you need to be prepared”.

I went to a rural secondary school, Chinsali girls secondary, and I stand here today as a deputy vice Chancellor of UNZA, if I could come from Chinsali to come and be here, I don’t see why any of the girls from Kambopo, Chadiza etc cannot do that, but also the boy child, lets not leave them out in developing this nation.

She left UNZA and went to serve as DVC at Cavendish University from 2018 to February 1st 2020. Prior to joining the University of Zambia, Dr. Kambikambi worked in the private sector. Dr. Kambikambi has served in various public service roles including Board Chairperson of the Zambia National Women’s Lobby and as Chairperson of the African Peer Review Mechanism (APRM).

Dr. Kambikambi has also served before as the Trustee of the University of Zambia Lecturer’s and Research’s Union (UNZALARU).

Meanwhile, University of Zambia Caretaker Committee of Council Chairperson, Ms Namucana Musiwa has congratulated Dr. Kambikambi on her well-deserved appointment as DVC. Musiwa said that Dr. Kambikambi joins the University of Zambia at a critical stage when UNZA is undergoing transformation and is confident that she will effectively contribute to this transformation and add value.

She added that “with her vast experience spanning over thirty (30) years, gained in both the private and public sector, Dr. Kambikambi joins the University at an opportune time to enhance the efforts that the senior management team is making”.

And University of Zambia Vice Chancellor – VC, Prof. Luke Mumba has also congratulated and welcomed Dr. Kambikambi to the University Zambia as DVC. ‘‘We warmly welcome Dr. Kambikambi to the team.

We all look forward to working with her. Owing to her vast experience in running higher education institutions, we are very confident Dr. Kambikambi is a valuable addition to the University’s management team,’’ said the VC. Both the Council Chairperson and the Vice Chancellor have also thanked Prof. Enala Tembo Mwase for her many years of service to the University at management level.

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As the commemoration of the international women’s

Tech

Airtel Mobile Commerce Zambia Limited has partnered with NATSAVE Bank to launch its Wallet to Bank and Bank to Wallet services in Zambia thus broadening access to financial services.

The partnership is aimed at providing appropriate and quality financing that is both accessible and affordable to low-income and other vulnerable households as envisioned in the 7th National Development Plan and the Vision 2030 Strategy.

Airtel Money Director James Chona said because financial inclusion was a multidimensional model which encompassed all initiatives including the use and access of Mobile Money services, the partnership with NATSAVE would help in onboarding groups that are traditionally excluded from the formal financial sector.

“We are excited about another strategic partnership that we have just launched with NATSAVE bank. We have always said business is easier when the corporate world creates synergies to make the life of a customer better. And today we see once again the integration of technology interlinking with the financial sector to bring to not only bridge the digital divide but bring to customers digital financial services.” Chona said.

And NATSAVE Head – Retail Banking Mebelo Mebelo said that strategic partnerships are taking centre stage on the financial and developmental agenda of NATSAVE, as well as for Public and Private market players. He is said for NATSAVE, this was yet another positive step taken in the mission to provide innovative, convenient and affordable financially inclusive services to customers.

“As NATSAVE, we have been looking for ways to empower our customers and we believe the Airtel/NATSAVE Bank to Wallet and Wallet to Bank facility will enhance the reach and delivery of financial services to customers who are the most important asset in our equation. This will also allow customers on Airtel and NATSAVE to access funds and transact with convenience.”

The agreement will enable customers to instantly send money directly from their Airtel Money wallet to their NATSAVE Bank account and vice versa.

According to a statement made available to the Zambian Business Time – ZBT by Airtel head of Corporate Communication Yuyo Kambikambi the partnership is meant to supplement Government’s efforts as prescribed in the 2017 to 2022 National Financial Inclusion Strategy to improve physical access to high-quality financial delivery channels which include bank branches, agents, ATMs, and mobile phones as the percentage of adults using an electronic payment instrument is expected to grow from 37% to 55% by 2022.

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Airtel Mobile Commerce Zambia Limited has partnered

Markets

Czech Ambassador to Zambia Radek Rubes says Zambia’s current economic reform evolution resonates with that of the Czech Republic, which underwent similar trajectory about two decades ago.

Ambassador Rubes says Zambia’s geographical location gives it a commanding advantage in the regional transportation and logistics chain.

Speaking during a courtesy visit on Finance Minister Dr. Bwalya Ng’andu at the latter’s office in Lusaka on February 21, 2020, Rubes extended the invitation to his country for a benchmarking and best practice exchange programme in management and control of public finances, debt management, taxation and customs management, fiscal management, and administration of public private partnership programmes.

“My country wants to deepen development cooperation with your beautiful country, through programmes such as the benchmarking and best practice initiative,” said Mr. Rubes.

And Dr. N’gandu thanked the Czech government for extending the invitation to Zambia “as there will be performance improvement benefits from the best practice and performance benchmarking initiative.”

According to information made available to the Zambian Business Times – ZBT by Ministry of Finance Spokesperson Chileshe Kandeta, the Minister took the opportunity to explain how Zambia’s developmental trajectory is targeted at optimising efficiency gains in air, road and power supply.

“The completion of priority air, road and power projects will further open the country to regional trade,” He said

He cited the new terminal building at the Kenneth Kaunda International Airport, the new multi million dollar airport being constructed in Ndola, the Kafue Lower Power Project, and the Kazungula Bridge as some of the projects that will propel Zambia to a higher level of development and logistical connectivity.

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Czech Ambassador to Zambia Radek Rubes says

Markets

The Bank of Zambia – BOZ has through its Monetary Policy Committee decided to maintain the policy rate at 11.50% on account that inflation is expected to remain high in the earlier part of the forecast period which is the first half of the year but decline towards the upper bound of the target range as food supply improves.

BOZ Governor Dr. Denny Kyalyalya announced that the committee has noted that economic activity has continued to weaken in the country and liquidity challenges have persisted hence they continue to pose risks to financial stability.

Meanwhile, the Bank had in November 2019 increased the Policy Rate to 11.50% from 10.25%. in December 2019, the statutory reserve ratio was increased to 9.0% from 5.0% and the period of compliance on statutory reserve requirement reduced to daily from weekly. These measures were aimed at addressing emerging exchange rate pressures in order to rein in inflationary pressures.

Addressing the media is Lusaka on February 19, 2020, attended by the Zambian Business Times – ZBT Dr. Kyalya reiterated the need for effective and sustainable implementation of fiscal adjustment and structural measures to address elevated debt levels and debt service obligations, containment of the continued accumulation of domestic arrears and resulting liquidity constraints in order to restore macroeconomic stability and promote robust sustainable economic growth.

The governor further disclosed that some risks that expected to be encountered in the period include, further increase in maize grain prices in the short term, slow progress on fiscal consolidation and second round effect of the increases in electricity tariffs and fuel prices.

He said the rise in inflation has mainly been driven by rising food prices hence the only way to resolve the situation is by increasing food supply adding that it is the bank’s expectation that the country will be able to produce enough foods as seen from this year’s rainfall patterns which show that the country is receiving enough rains.

“The Bank is also taking measures to contain and control the situation and this is evident from the rise in policy rate to 11.50% which is still at play from November 2019. We also want to state that Policy Rate alone will not address the issues of inflation hence individuals should also be able to make economic decisions based on the information that we are releasing regarding the current economic challenges,” He added.

Last week, Finance Minister Dr. Bwalya N’gandu during an economic quarterly briefing stated that his team is expected to conclude the work of re-scoping and review of the current debt with a view to cancel undrawn facilities and stem further drawing on existing facilities were its legally and economically viable.

Dr. N’gandu further assured the nation that the Chinese authorities have not refused to restructure the debt to Zambia, stating that the engagement on debt restructuring with the Chinese and other lenders awaits the completion of the debt rescoping exercise and clearance from the ministry of justice and attorney general on legal options available.

With the rainfall patterns being experienced in Zambia, food production is expected to rebound and result in downward inflationary pressure. The rains are further expected to boost power production with Zambia having its energy production mix skewed towards hydro power productions.

To retain the economy to macro economic stability and better growth rates, the new finance minister is expected to put more emphasis on debt restructuring so that more fiscal room can be created to release funds and pay down domestic arrears which would ultimately result in restoring domestic and market liquidity.

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The Bank of Zambia – BOZ has

Agribusiness

The Bank of Zambia – BOZ, has noted that the expected increase in Agro production of foods in the 2020 harvest season is projected to mitigate the high inflation which had mainly been coming from the rise in the price of food items on the market.

During the Monetary Policy Committee update held on February 19, 2020, at the Bank of Zambia Head offices attended by the Zambian Business Times – ZBT, BOZ governor Denny Kalyalya explained that inflationary pressures continued to mount in the fourth quarter of 2019, driven mainly by a further sharp increase in prices of maize grain and related products and the significant depreciation of the kwacha against the US dollar.

Dr. Kalyalya said the increase in maize prices was mainly due to relatively low production and supply from the 2018/2019 season. Subdued supply amidst heightened demand for foreign exchange relating to the importation of electricity, petroleum products, and agricultural inputs were the key drivers of the depreciation of the kwacha in the fourth quarter.

“Annual overall inflation increased to an average of 11.1% from 9.5% in the third quarter. Average food inflation rose to 14.0% from 10.7 % while non-food inflation slowed down to 7.8% from 8.3%. In December 2019, overall inflation was 11.7% and it averaged 9.1% for the year as a whole”, said Dr. Kalyalya.

The BOZ governor further announced that in January 2020, inflation rose further to 12.5% following the upward adjustment in electricity tariffs and fuel pump prices. Inflation is projected to remain elevated over the earlier part of the forecast period and thereafter decline towards the upper bound of the target range of 6-8%.

The governor said underlying this projection are the effects of on-going electricity supply challenges and increased external debt service payments on inflation through the expectations and exchange rate channels.

He added that the upside risks to the inflation outlook include further increases in the prices of maize grain and related products, the sound round effects of the increases in fuel and electricity prices and slower progress on fiscal consolidation.

Analysts contend that the normal to above normal rainfall currently being experienced across the country is expected to result in better food harvest, boosting supply and expected to result in downward pressure on food inflation. The country staple food, Maize prices have already surged downwards for fresh cobs of maize selling on the fresh and green markets.

Energy production in Zambia has further being boosted by the increased flows in the major rivers, with the Zambezi River Authority – ZRA stating that the water levels have increased by about 25% from the same time last year, which will boost hydro power production.

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The Bank of Zambia - BOZ, has

Mining

The global impact of the coronavirus has finally directly hit home as Zambia’s largest copper miner, First Quantum Minerals – FQM which relies on its Zambian mines for over 60% of its group global copper production, with talks being delayed for the planned minority share sell deal.

The rapid spreading of the deadly Coronavirus has sparkled concerns from markets around the world that the virus outbreak will slow demand in China, the largest consumer of most commodities, that includes copper, which is Zambia’s single largest export product.

According to Reuters, copper miner FQM which in the past has been in talks with a Chinese company about a possible sale of shares, said on Friday that discussions to sell the minority stake in its Zambian mines have stalled amid the coronavirus outbreak in China.

The Virus has temporarily derailed talks to sell a minority stake in First Quantum Minerals’ Zambian operations, company executives said. They revealed that the Virus outbreak is preventing face-to-face meetings with potential Chinese buyers, postponing a sale that’s key to the Vancouver-based First Quantum’s US$2-billion debt-reduction plan, the copper mine said during its fourth-quarter earnings call.

First Quantum President Clive Newall said the epidemic hasn’t yet materially affected First Quantum’s physical sales and that the broader market impact is being mitigated by the miner’s hedging program.

“Our hedging program, now extended through 2020, provides some protection from copper price volatility, at the same time, a strong balance sheet has made us more resilient to black swan events such as this”, Newall said.

In December, Newall disclosed that the company’s focus for the next two to three years will be cutting debt by at least $2-billion. The executives said that the sale of a minority stake in First Quantum’s Zambian operations would help achieve the debt reduction target faster but talks are unlikely to resume until the second half of the year.

Jiangxi Copper has been seen as a potential buyer. Newall said the First Quantum required the Chinese company to sign a non-disclosure agreement restricting it from buying more than 20% of First Quantum’s shares.

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The global impact of the coronavirus has

Companies

The National Pensions Scheme Authority – NPSA has received a dividend of ZMW 7.98 million (about US$560,000) from ZCCM-IH, a demonstration of the authority’s investment in various assets as guided by investment guidelines.

NAPSA is major player in Zambia’s financial and social security sectors with a goal of providing long term income security to its members and their families.

Speaking at the dividend handover ceremony on February 12, 2020, NAPSA Director General Yollard Kachinda said the authority has since 2014 continued to make profits from its investments in ZCCH-IH adding that it paid a dividend total sum of K55,833,959.26 from profits made in ZCCM-IH so far.

He further disclosed that the authority currently has over 16,000 pensioners on its payroll with a total pensions payout in 2019 standing at over K1 billion, the cash which is ploughed back to turn the economic wheels of the country.

“On behalf of the board and management of NAPSA, I would like to assure all workers contributing to NAPSA that their interests will always be at the center of every investment decision we make. It is therefore important to note that we will always ensure that we invest and grow the fund in a transparent and prudent manner which will result in a financially sustainably scheme,” He said.

And ZCCM-IH Chief Executive Officer – CEO Mabvuto Chipata said the fourth dividend cheque handed over to NAPSA is a fulfillment of one of its major strategic pillars and a demonstration of its commitment to its stakeholders.

“Even though copper remains the mainstay commodity within our group, we are widening our footprint in the mining sector by developing new product lines such as manganese in central province, and gold processing in Runfunsa, Mumbwa and Mwinilunga,” He said.

Mabvuto added that the named projects are just awaiting finalization of statutory approvals which will be concluded soon. ZCCM-IH has reiterated its focus on generating consistent and predictable income through investments in brown field and greenfield projects while ensuring and maximizing for its shareholders.

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The National Pensions Scheme Authority – NPSA

Companies

The Center for Trade Policy and Development – CTPD and the Zambia Tax Platform – ZTP have expressed disappointment at the speech delivered by the of Minister of Finance, Dr. Bwalya N’gandu which they described as not offering hope to ordinary Zambians as it was merely a reminder of how citizens should brace themselves for tough days ahead.

Minister of finance Dr. Bwalya Ng’andu had last week addressed the nation on the state of the country’s economy and pledged to return the economy on the path to recovery through implementing debt management measures and enhance revenue collection.

But the ZTP is disappointed that looking at the measures government plans to undertake, it does not seem to have tangible solutions to address the various challenges the country is facing.

Speaking at a joint press briefing with CTPD on February 14, 2020, attended by the Zambian Business Times – ZBT, ZTP Chairperson Leah Mitaba also expressed concern at the rise in public debt which she said is now a threat to spending towards critical social sectors.

She has since called on government to be more transparent on the country’s debt situation as it has been silent on key information around debt especially with regards to the value of the pipeline debt, for both domestic and external.

“With regards to government’s announced plans to rescope debt, ZTP urges government to provide clarity on the specific projects it intends to rescope in an attempt to reduce project costs and undisbursed loan balances, as they relate to underspending in key sectors from 2019 fiscal year,” She added.

Leah has further noted the need by government to disclose how much it owes to financial institutions for the loan deductions it’s been collecting from civil servants saying it is wondering how dismantling of arrears seems more biased towards road constriction and the construction sector in general without considering other strategies towards unlocking private sector participation.

And CTPD Executive Director Isaac Mwaipopo said there is need to stimulate growth in the economy by placing government resources into sectors that can generate economic activities like the Agriculture sector.

He added that government should not only concentrate on dismantling arrears owed to local contractors but also deal with Agro dealers in the Agriculture sector as this may go a long way in facilitating their active participation specifically within the Agro space and the general economy at large.

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The Center for Trade Policy and Development