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Tech

Zambia has started receiving the 300 Megawatts power imported from South Africa’s ESKOM. Minister of Energy Mathew Nkhuwa has confirmed this to the the Zambian Business Times – ZBT saying that electricity started flowing into the country after midnight .

Zesco has however, not independently confirmed the commencement of electricity imports from South Africa. Nkhuwa said 27 million dollars has been paid to import power for only a period of one month. He further stated that US$20.5 million is the total cost of the imported power and US$6.5 million was for settlement of the arears. He said the importation of 300 Megawatts of power will help reduce the prevailing load shedding by two hours or more.

The Energy Minister explained that this is because five generating machines at the Kariba have completely been shut down leaving only one that is producing 180 Mega Watts to operate. He said the machines can be destroyed if they allowed to operate under the current low water levels at the Kariba Dam.

Nkhuwa assured Zambians that the normal supply of electricity will gradually improve for the month of December and January if rains stabilize. Zambia is currently experiencing a power deficit of about 872MW with load shedding of over 15 hours on a daily basis in most parts of Lusaka, which houses the biggest retail customer base.

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Zambia has started receiving the 300 Megawatts

Mining

The Luangwa Establishment has added its voice to the ongoing debates surrounding the proposed copper mining prospects in the Lower Zambezi and has announced its views of supporting the move saying it will contribute significantly to the treasury of this country.

The Luangwa Establishment, a non-governmental organization formed for the purpose of promoting cultural and developmental programmes in Luangwa district has explained that Zambia’s economy is dependent on mining hence the proposed mine will bring employment to youths in the nearby districts and the country as a whole.

Addressing the media in Lusaka on November 21, 2019, Luangwa Establishment Chairperson Joseph Felemenga said despite knowing that mining has a limited lifespan and some noted impact on the environment, its development impact is certainly huge and it cannot be ignored. He has since called on the Zambia Environmental Management Agency – ZEMA to make available necessary guidance and documents for mining to commence at the site.

“In our esteemed opinion, any developmental undertaking must demonstrate that it will benefit the local people first through corporate social amenities, employment, service delivery and other supply contracts. Therefore, we strongly recommend that we take the mining route and we hope that the authorities will cooperate with the investor, who in turn shall actualize our dreams and aspirations,” he said.

Felemenga added that mining is not taking part in the whole of Lower Zambezi as the National Park has a land area of 4,092 Square Kilometers and it is over 40KM from the Zambezi river inwards adding that animals are over 50Km away from the mining sites hence world life still has abundant land to roam and feed from.

Meanwhile, when ZEMA was contacted for a comment, the Agency’s Public Relations Manager Ireen Chipili told the Zambian Business Times – ZBT in an exclusive interview that the agency has not received any revised Environmental Assessment Report – EIA from the developer for review hence has no proper comment on the matter.

She said the developer is in charge of providing an EIA to the agency which contains both positive and negative results on the environment before the project begins and that it has not received any new report on mining in the Lower Zambezi.

Chipili further explained that the Agency had in 2015 reviewed a report from Zambezi resources regarding the matter but that the project was not undertaken for three years hence the permit expired as the low requires that if works don’t begin within the stipulated period of time, the license is automatically withdrawn.

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The Luangwa Establishment has added its voice

Tech

Zazu Africa Limited – Zazu has announced its partnership with MasterCard to issue prepaid cards linked to the Zazu app in a move that will help to reduce cash dependence and increase financial inclusion in Zambia.

Zazu is a mobile wallet that allows customers – even those without a bank account – to send, receive, pay and save money digitally and currently users can only make payments at selected Zazu merchants in Zambia.

By obtaining a Zazu Mastercard prepaid card, cardholders will be able to withdraw money from ATMs and pay for purchase at millions of merchants that accept MasterCard, both in Zambia and internationally.

According to the statement made available to the Zambian Business Times – ZBT, the ZAZU prepaid card also features the latest contactless technology, providing cardholders with a fast and convenient payment solution with the highest security protection.

For e-commerce payments, Zazu customers can request a MasterCard virtual card directly in the app, providing them with a secure way of transacting online without needing to share their primary card or account information with the merchant.

It further states that Zazu users can opt for a single use virtual card, which will expire immediately once it’s used, or a virtual card that is valid for 30 days and has no limit on how many times it is used.

Perseus Mlambo, Founder and CEO of  Zazu said: “From the get-go”, the comoany has set out to build a wallet that people would be able to use locally, and globally and giving user base a companion card to their wallets means they can use their funds at millions of locations around the world. It also provides our customers with the control and confidence they need to manage their money more smartly.

The initiative has been explained to be aligned with the Bank of Zambia’s National Financial Inclusion Strategy, which aims to increase financial inclusion from 59 percent in 2017 to 80 percent by 2022, by enabling more people and businesses to access digital payments and formal financial services.

“Our programmes are developed to help consumers and businesses meet their daily needs, including the ability to transact more efficiently and safely. We are excited to partner with Zazu and lead the transition to digital payment by enabling access to their customers for online and in-person payments across the globe – without the costs and risks associated with cash.” says Mark Elliott, Division President, MasterCard Southern Africa.

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Zazu Africa Limited - Zazu has announced

Lifestyle

The adverse effects of load shedding have continued to reflect in the Jesuit Center for Theological Reflection – JCTR Basic Needs and Nutritious Basket which has indicated an increase in the cost of living for a family of 5 in Lusaka by K28.41 from K6, 327.28 in September 2019 to K6,355.69 in October 2019.

JCTR has attributed the upward shift in the cost of living to a rise in the prices of some food items on the market and high production costs in the economy adding that the cost of living for a family of 5 in Lusaka went beyond K5,000 thresholds for the first time in history.

In a statement made available to the Zambian Business Times – ZBT by JCTR Communications Officer Alice Mapulanga, JCTR has observed that the majority of poor households which cannot afford generators, gas cookers and solar panels are now forced to rely on charcoal thereby affecting negatively the already fragile environment.

JCTR states that the power outages and energy costs have meant an increase in production of goods which in turn has led to further increase in the cost of living.

The center has since wondered why the country has failed to learn from the past experiences of low water levels in Lake Kariba and invest in alternative and renewable energy sources adding that although Zambia is blessed with a lot of water, onset of climate change beckons the country to diversify its energy generation capacity.

“The solution to the power deficit does not lie in increasing electricity tariffs by over 100%. Lest we forget that in 2018, electricity tariffs were increased by 75% and the tariffs increment had a major effect on cost of living,” JCTR.

Government has since been urged with other stakeholders to take deliberate measures to vigorously sensitize the populace on the benefits of using gas stoves as opposed to using electricity stoves and further put measures to project the forests and forest reserves as most of them are endangered due to the high demand for charcoal.

The center is also expecting government to share with the nation a workable national policy and plan to expand and diversify the energy generation capacity by aggressively embracing alternative renewable energy sources.

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The adverse effects of load shedding have

Tech

The newly appointed Engineering Institute of Zambia – EIZ President Eng. Eugene Haazele has stated that the current energy crisis the country experiencing should be looked at as an opportunity for Zambian engineers to look into solar and other energy alternatives.

Haazele has explained that the current power deficit resulting into long hours of load shedding should be used as an advantage by local Engineers to explore ways of looking into alternative energy sources such as solar energy, other than depending of hydro generation which comes with environment complications.

He told the Zambian Business Times – ZBT in an exclusive interview that citizens could as well adapt to using solar panels in their homes as an important step to the country’s diversification process.
Zambia has been plugged into darkness as massive and prolonged power cuts affect the entire country which has been said to be a result of the reluctance by governments, past and present to expand and diversify the energy generation capacity and aggressively embrace alternative and renewable energy sources.

Energy experts talked to by ZBT have indicated that solar, wind, nuclear and bio-fuel are other viable energy alternatives that the country could undertake if the crisis of power shortages is to be solved.

When asked on other experts view that solar energy is actually more expensive than hydro power which may be the reason behind the reluctance to diversify, Eng. Haazele explained that Solar is not expensive than hydro as it only requires the sun which could not attract so much investments compared to hydro which needs dams and other facilities to be built to store water.

“Engineers must take it up for themselves to explore ways in which the country can diversify to solar energy which is actually cheaper to undertake. The country relies too much on hydro power generation and nothing or little has been done to move away from the over reliance on hydro generation, that’s why we get stack when there is no water in lake Kariba”.

“Besides hydro has environmental challenges hence it’s only better to diversify to using solar which only requires the sun to operate,” he said.

Due to a reported power deficit of over 750 MW, the country’s power utility company ZESCO is now subjecting some citizens to 15 plus hours of load shedding a day and this has inconvenienced households as well as reduced production in the economy as electricity is a major factor of production.
With the current power importation agreement by the government of Zambia and Eskom of South Africa, it is only hopeful that the solution to this power problem will soon be arri

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The newly appointed Engineering Institute of Zambia

Companies

The Zambia Revenue Authority -Z RA has welcomed the initiative by government to empower clearing companies owned and run by Zambians. ZRA corporate communications manager Topsy Sikalinda told the Zambian Business Times – ZBT that the agency has since presented a proposal to the ministry of Finance on legally available options to empower Zambians in the industry.

He said the proposed measures include compelling government institutions to clear goods using indigenous Zambian owned companies. ZRA Commissioner General Kingsley Chanda revealed that currently, there are 821 registered and licensed clearing companies in Zambia with over 80% of the business being done by foreign multinational clearing companies through Zambian proxies.

The Commissioner General has urged local clearing agents to desist from smuggling activities so that they consolidate the support, trust and confidence of the Authority. He has also encouraged local clearing companies to form one association so that they have a strong voice and work together.

‘‘Currently, local clearing companies belong to three different clearing associations. Such fragmentation is not good and may negate government effort to them,’’ said the ZRA commissioner General.

The Authority is optimistic that these measures will not only empower the indigenous clearing companies but also create jobs and boost the economy of the country. President Edgar Lungu last week said that skewed business activities towards a few customs clearing agents needed to be addressed and that the anomaly where 80 percent of the customs clearance was done by a few clearing firms while 800 locally owned clearing firms were fighting for a paltry 20 percent should be corrected immediately.

This measure follows reports that foreign owned and controlled firms have hijacked the customs clearing business at the expense of local firms. Foreign businesses simply externalize their profits but local businesses are globally known to ensure that the money remains within the economy.

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The Zambia Revenue Authority -Z RA has

Markets

Stanbic Bank Zambia has launched the first ever digital loan platform which enables its customers access online personal loans for those with existing approved facilities, scoring a first on the Zambian market.

This new initiative is the first of its kind on the Zambian market and will allow Stanbic Bank customers access instant pre-approved unsecured personal loans online without having to visit a bank branch.

Speaking at a press briefing in Lusaka on November 20, 2019 attended by the Zambian Business Times – ZBT, Stanbic Head of Personal Business Banking Mwansa Mutati explained that extra funds will be credited or paid into the customer’s account within a minute of making the online application as the bank dials up its digital financial offering.

She further disclosed that the bank has in the last five years invested over K730 Million in technology, providing customers with a superior customer service through its continuous digital innovations.
“Banking on the go is a must for today’s clients. This product allows customers to access loan facility at their convenience and Stanbic’s aim is to make the process much simpler with a quicker online alternative that will see funds credited directly to the customer’s account within a short time of a successful application,” She said.

Mwansa has since rated the bank high in comparison to other banks on the Zambian market saying it has proved its continued commitment in digital innovation which is the easiest way of doing business for customers.

At the same event, Stanbic bank Head of Digital Channels Mbinga Kafunya has stated that the bank has continued to be pioneer of a multitude of market-leading innovations in the financial sector as it shifts from traditional brick-and-mortar banking facilities to a digital marketplace.

He said this has further allowed the bank to focus on improved service delivery that is customer – centric and relationship driven adding that it will remain relevant to its customers through various life stages and the business journey. Kafunya has further revealed that the bank looks forwards to introducing international payments which will enable its customers make payments across the region in the near future.

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Stanbic Bank Zambia has launched the first

Markets

Interest rates in banks and other regulated financial institutions are expected to raise by 1.25% following the announced raise in that benchmark policy rate. The Monetary Policy Committee at it’s November 18 – 19 meeting decided to raise the benchmark interest rate – the policy Rate by 125 basis points (1.25%) to 11.5% and inflation is now projected to remain above the upper bound of the targeted 6-8%.

Addressing the media in Lusaka on November 20, 2019, Bank of Zambia governor Dr. Denny Kalyalya has announced that the decision to raise the Policy Rate is intended to counter inflationary pressures that include exchange rate pass-through effects and bring inflation back to the target range in the medium term as well as to support overall macro-economic stability.

Dr. Kalyalya added that the decision arrived at was difficult as the committee was mindful of the impact it would bring to the economy hence went through a lot of information review from all economic sectors to ensure the decision best suits the interest of the people of Zambia.

He added that the rise in the Monetary Policy Rate raises un-intended consequences on the growth of the economy and financial stability, but the committee needed to rise to the occasion to avoid making decisions that may be a hazard to the economy by the committee.

The governor has furter indicated that the Policy Rate is not the major tool of addressing all issues sorrounding the economy as it also requires complements by the implementation of corrective measures by fiscal authorities and other key public policy makers.

“The committee recognises that to address the prevailing economic challenges, Monetary Policy actions alone are not sufficient hence the need to implement corrective measures. Moreover, Implemention of measures that address high fiscal deficit, debt levels and debt service as well as liquidity constraints and dismantling domestic arrears remain critical to maintaining overall macroeconomic stability and attaining sustainable economic growth,” he said.

Meanwhile, BOZ had at November 14, 2019 raised the Overnight Lending Facility – OLF rate to 28 percent from 17 percent and the increase in the OLF was aimed at instilling stability in the market and reining in inflationary pressures.

However, with the 125 basis points increase in the Policy Rate to 11.5 percent, BOZ has stated that the OLF rate will be 16.5 percentage points above and the Policy Rate remains at 28 percent.

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Interest rates in banks and other regulated

Companies

The Zambia Institute of Purchasing and Supply – ZIPS President Chibwe Mwelwa has called for immediate implementation of the Sub-Contracting Policy in Zambia which advocates for compelling foreign owned companies to subcontract at least 20% of the contract value.

Mwewa has explained the subcontracting policy that government is pushing for is a welcome move but that it should be backed by legal instruments to enable local contractors participate in the industry. The institute has challenged law makers to rather come up with regulation that can stand the test of time.

Speaking on the sidelines of a consultative meeting on the implementation of the 20% Sub-Contracting Policy organized by ZIPS on November 15, 2019, Mwewa told the Zambian Business Times – ZBT in a separate exclusive interview that if properly undertaken, the policy will return monies in the country through the locals, increase the aggregate demand and GDP of the country.

He added that the role of Small and Medium Enterprises – SME sector in economic development cannot be over emphasized as SME’s form a launchpad for developing countries to fully realize their potential.

“SME’s remain the driving force in entrepreneurial resources and in easing one of Africa’s greatest challenges which is youth unemployment. SME’s further have potential to massively contribute to growing the country’s economy hence the need to back this policy with a law, a law that will ensure that 20% of all contracts at backed by a legal framework which support local businesses.

And speaking during a discussion panel at the same event, Permanent Secretary in the Ministry of Housing and Infrastructure Development Charles Mushota said the 20% Sub-Contracting policy has been instituted in the spirit of promoting inclusive growth to avoid placing Zambians on the sidelines of development.

He has revealed that government has invested heavily in public infrastructure projects country wide which is aimed at addressing the huge infrastructure deficit as well as to spur rapid social and economic transformation of the country.

Mushota added that with the current and future government spending on infrastructure and other services, there is no better time to grow the local construction capacity than now. He has since urged other stakeholders in the industry to support the implementation of this policy which is aimed at strengthening the local construction capacities for sustainable projects implementation.

Parliamentarians have been slow at pushing for this legislation due to their political inclination were politically charged legislation is given more prominence relative to progressive local content law that would cut across all sectors and industries.

 

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The Zambia Institute of Purchasing and Supply

Agribusiness

The Centre for Trade Policy and Development – CTPD has expressed concerned with the slow pace of distributing farming inputs for the 2019/2020 farming season and questioned the claim that 90% of inputs have been distributed.

As of August 2019, Agriculture Minister Michael Katambo informed the nation that the Government had distributed about 90 percent of the farming inputs countrywide, for the 2019/2020 farming season but reality on the ground seems to suggest that a number of Small-scale farmers have not yet received their farming inputs for the 2019/2020 farming season even after depositing their K400 contribution.

CTPD Head of Research Brian Mwiinga has observed that Farmers in places near to Lusaka such as parts of Chongwe have not received any inputs for this farming season.

“We are left to wonder how the situation is in other far flung places of Zambia. What is even more worrying is the fact that almost all provinces in Zambia have received the first rains and in an ideal situation, the farmers should have planted their various crops, but this is not the case due to the non-delivery of the required farming inputs’’, said Mwiinga.

According to information availed to the Zambian Business Times – ZBT by CTPD Information and Communications Specialist Mwaka Nyimbili, Mwiinga stated that as the rains intensify, some places with poor road networks in Zambia will become hard to reach, a situation which will further affect the effective delivery of inputs.

CTPD however expects government to have learnt some lessons from the past farming seasons when inputs were delivered very late stating that the current high mealie meal prices are a function of a combination of factors such as poor planning and in a small part natural causes such as poor rainfall in some parts of the country.

He has since urged Government to act swiftly in addressing the situation to avoid the mistakes that have been made in the past farming seasons and has also advised farmers countrywide to be strategic when choosing the types of crops to plant.

‘’With the help of the Agricultural Extension Officers in their various locations, let them consult them on the expected rainfall for the year so that they can choose seed varieties that will be in tandem with the expected rainfall as well as well as the quality of their soils. We wish to see our Agricultural sector going back to the glory days of recording bumper harvests in order to ensure National Food security’’, He said.

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The Centre for Trade Policy and Development