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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

Markets

Bank of Zambia (BOZ) Deputy Governor Operations Francis Chipimo has revealed that the Exports Proceeds Tracking Framework (EPTF) which came into effect on 1st January 2024 will only be fully implemented in 2025 adding that the services side is yet to be implemented as the current focus is on tracking goods.

Responding to a question raised by the Zambian Business Times (ZBT) over the EPTF Chipimo stated that the Bank has had receipt of K4 billions of exports and only about K2 billion has been reconciled.

“Since it was launched in January in terms of the total export value we had K6.6 billion, and in terms of the trade data, and in terms of the export receipts the value that we have received is about K4.1 billion, and all points of the framework are to reconcile so that we can say when this export was made this is the money that was made, and the reconciliation process we still have a bit of a long way to go and the amount recorded is K2 billion partly because we have not fully implemented the services side, once we implement the services side by January next year, then we should be able to fully reconcile,” he said.

Chipimo echoed that the bank is also working on tracking imports, alongside the services and goods.

“For example, we can be able to track the money that one is taking out, but they may say this money is ours because I imported goods and services before, there isn’t a way in which we can reconcile that indeed the money which you are sending out is for those imports, so that is the other pillar which we are implementing and once we do all of the three things we can have a 360-degree understanding of all of our payments in and out of the Country,” he said.

Chipimo emphasized the full actualization of the framework will also enable a full understanding of tax compliance and foreign exchange flows.

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Bank of Zambia (BOZ) Deputy Governor Operations

Companies

The Zambia Institute of Chartered Accountants – ZICA, has charged that the projected single-digit inflation now appears to be an untenable stretch, with the Zambia Statistics Agency Zamstats reporting an increase to 13.5%, up from 12.9% in the last quarter.

Speaking at the ZICA quarterly media briefing attended by the Zambian Business Times – ZBT, Zambia Institute of Chartered Accountants (ZICA) President Yande Siame Mwenye, noted that the annual inflation is projected to climb to 14.7%, posing a significant obstacle to the country’s economic stability.

Mwenye also emphasized the critical role of energy provision in driving economic growth and expressed concerns about the negative impact of power shortages on the economy.

Mwenye cautioned that projected growth rates of 6.6% in 2025, 5.9% in 2026, and 5.6% in 2027, may not fully account for potential external shocks such as global economic downturns, commodity price fluctuations, and local issues like adverse weather conditions.

“The projected growth rates of 6.6% in 2025, 5.9% in 2026, and 5.6% in 2027 reflect a strong optimism about the economic recovery and development potential. The government plans to achieve this through various reforms, infrastructure projects, and enhancing productivity across key sectors.”

“However, these projections might not fully account for potential external shocks, such as global economic downturns, commodity price fluctuations, or local issues like power shortages and adverse weather conditions.”

She said historical data shows that such optimistic growth projections often face significant hurdles. “The IMF and the World Bank have projected growth rates for Zambia in the range of 3-4% over the next few years which is lower than what the budget is projecting.”

Mwenye also noted that previous growth targets have often fallen short due to a combination of external and internal factors, such as the severe impact of drought on agriculture and power shortages hampering industrial production.

She advised the government to incorporate more conservative scenarios and contingency plans in the economic recovery plan. “This could involve creating financial buffers, diversifying export markets, and investing in climate-resilient infrastructure to mitigate potential disruptions and ensure a more stable path to economic recovery.” She said.

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The Zambia Institute of Chartered Accountants –

Lifestyle

The anticipation for the main event of the PRURide professional road bicycle racing stage race sponsored by Prudential, reached new heights as Prudential Zambia held a community activation race to build up for the major event scheduled for Saturday 31st August 2024.

On August 25, 2024, people from all walks of life, including kids, veterans, and women among many others expressed their maximum support for the incoming community activation race, showcasing an overwhelming interest in cycling.

Prudential Life Assurance Zambia, Chief Executive Officer – CEO, Kachiza Kwenda, who was also part of the cyclists to fully support this initiative, emphasized the twofold objective of the PruRide event – bringing communities together and raising awareness about cycling and road safety.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Kwenda highlighted the significance of the event in promoting fitness and an active lifestyle while demonstrating Prudential’s commitment to impacting communities in a sustainable manner.

Kwenda urged people from all walks of life to participate in the main event scheduled for August 31, 2024, which promises to feature a diverse range of racers, including elite riders, children, veterans, and mountain bike enthusiasts among others.

“One reason we are very happy to be associated with this is that as we put
in sponsorship, we are encouraging people to have an active lifestyle, and i
think in the past people have associated bike riding with either poverty or
anything but it’s the most efficient way to get around as it is good for human beings and their health.”

“This event helps us to come through for the communities that we work in as we believe in impacting sustainably the communities that we operate in and so this is just a demonstration of what we intend to do in many different areas across the country.” Remarked Kwenda.

He further encouraged people to look for healthy and holistic ways for them to pass their time adding that Prudential was very proud to be associated with such activities.

Appreciating the tremendous turnout at the build-up event held at Lusaka’s Cairo road, Kanyifwa Nyirongo, Managing Director of Prudential Pensions Management Zambia, who was also part of the event among many other officials from Prudential Zambia and Cycling Association of Zambia, expressed sincere gratitude for the great turnout and underscored the event’s focus on community engagement and promoting good health.

He added that Prudential Zambia intends to extend such events to other provinces like the Copperbelt and North Western province, emphasizing that PruRide is not just for Lusaka but for everyone to enjoy good health.

With the main event slated to begin from Thabo Mbeki-Ngwenya road and traverse through Kamloops road and the Great East road, Nyirongo encouraged individuals to register through various media channels and join in for a day of fun and good health. “So there will be some that will be doing 10 laps, 8 laps, and 6 laps so lots
of things that will be happening there so please come forward.”

The Prudential PRURide promises to bring communities together and promote a healthy and active lifestyle across all regions of Zambia.

The PruRide professional road bicycle racing is a community-based cycling sponsored by Prudential in Collaboration with the Cycling Association of Zambia.

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The anticipation for the main event of

Agribusiness

The National Union for Small holder farmers of Zambia -NUSFAZ, has urged the general public to try out mealie meal from other crops like millet and sorghum and cassava and not just sticking to maize.

Speaking in an exclusive interview with the Zambian Business Times, National Union for Small holder farmers of Zambia -NUSFAZ executive director Ebony Lolozhi said, the general public has to start learning how to adapt with the shocks that come with climate change in terms of food security.

“You know when we are faced with all these challenges we need to adapt ,so it is either we adapt or we die of hunger , so what I am saying here is first of all we need to manage our land properly so that at the end of the day our land is able to attain the right levels of fertility .” he said.

He added that there is need to start incorporating rain water harvesting each time we are in the rain season so in the future it can be of value.

“Look at the way things are as a country, we are grappling with low food levels meaning that our harvest was heavily affected by the drought when we would have simply practiced smart agriculture practices so that we avoid losing yield,” he stated.

Lolozhi added that in regards to them advising farmers to start diversifying to growing crops like sorghum, millet,cassava and even sweet potatoes it is also vital for consumers to also start considering consuming more of millet, sorghum and cassava so that farmers can be motivated into growing more drought tolerant crops .

He further called for joined efforts from companies that are into producing beverages to be specific alcoholic beverages to come on board and stimulate market demand so that farmers are encouraged to go into drought tolerant crops.

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The National Union for Small holder farmers

Markets

Economic Association of Zambia (EAZ) National Secretary Dr. Nicholus Obby Mainza has called for stringent measures in curbing the issue of investors engaging in capital flight which deprives the Country of the required revenue.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Dr. Mainza said Government must ensure that the investors save their earnings within the Country, in the aspect of growing the economy.

“The business environment in Zambia is very good, and that’s why we are seeing foreign investors coming into the Country, for instance the brick molding is flooded with several foreign investors, but the only weaker point is the allowing these investors to push out their cash in banks outside the country, we must advocate that they push the money in the Zambia banks so that we stabilize the Kwacha against other major convertible currencies, and there will be enough liquidity revolving around the country, instead of them sending the money in their offshore accounts,” he said.

Meanwhile commenting on the latest Zamstats report that indicates that the first quarter of 2024 experienced a reduction of the economic growth of only 2.2 percent compared to the first quarter of 2023 which was at 4.0 percent.

Dr. Mainza said there is a need to increase productivity and enhance the measures surrounding foreign exchange. Mainza also noted the recent appreciation of the Kwacha attributing it to the marketing season which has seen exports of agricultural products and the revamping of the mines.

“The Kwacha is doing better now compared to the previous month, it’s because we are making positives in the mines and agriculture. We have seen the marketing season where farmers are offloading their produce on the market, and the banks are running around and liquidity is at large,” he said.

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Economic Association of Zambia (EAZ) National Secretary