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Sport

Sanlam Life Insurance Company is set to sponsor the top three (3) winners of the 21st inter-company relay to be held on Saturday 22nd June 2019 at Heroes stadium in Lusaka.

The top 3 winners will be fully sponsored with an all expensive paid trip to attend the September Cape Town Marathon in South Africa which is the only African IAAF Gold label status marathon.

The winners will range from different categories namely 100 meters Chief Executive Officer CEOs race, 5km healthy walk road race and the high performance for this year’s event.

Speaking at a media briefing, Sanlam Acting Chief Executive Director Tontela Siwale endorsed this initiative saying Sanlam believes that a healthy society brings development that improves the economy. He said that the company is more than delighted to be key driver of the Zambian Economy through health and wellbeing.

In a separate interview with the Zambian Business Times-ZBT, the Director said that two professional athletes will be among those that the company will sponsor so they can draw some inspirations from other professional in countries participating in the IAAF event.

Siwale revealed that the Insurance company and the Zambia Armature Athletics Association (ZAAA) have formed a partnership which will grasp a promotion of health being through sports.

And ZAAA president Alias Mpondela has praised Sanlam for the gesture it has offered in trying to promote a health life through the support of sports in the country.

“Identifying ourselves with Sanlam and Sanlam identifying its self with Zambian athletics which is what they have promoted in South Africa is a very great gesture for us, we are very delighted for the commitment which has been made to sponsor top three winners in various categories and this to us signifies the commitment in which Sanlam is putting up to promote athletics in the country,” he said.

Mpondela added that this year’s intercompany relay has witnessed a growing response and participation following a call by president Lungu for all Zambians to take up physical exercise in order to prevent non communicable diseases.

“So far we have 65 companies that have entered the competition out of 100 that where projected while 450 walkers have already registered from 500 projected walkers. 250 individual walkers from 200 projected have already registered while 150 participants have already registered for the 10km power race when only 10 projected,” he said.

The ZAAA president added that the ICR in which Sanlam is participating is an event that focuses on rising funds for the promotion and development of athletics in the country while promoting an integrated approach to health response.

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Sanlam Life Insurance Company is set to

Tech

Zambia has advanced plans to upgrade the Copperbelt University – CBU, the University of Zambia – UNZA and Northern Technical College – NORTEC in order to offer training in Nuclear Science.

Energy Minister Mathew Nkhuwa stated that this follows an assessment that was carried out to ascertain the readiness of the country in introducing nuclear energy. He added that the nuclear programme will see Zambian Students being trained before the country can decide to put up a nuclear plant .

Nkhuwa added that Zambia had invested in renewable energy projects such as solar, wind and hydro.
The Energy Minister further mentioned that Zambia’s plans to diversify power generation were advanced and that the nuclear project implementation had made headway’s. Government is finalizing a legislation that will allow the private sector to participate in off grid solutions by powering entities with renewable energy.

In a statement made available to the Zambian Business Times – ZBT by press secretary Inutu Mwanza, Nkhuwa said Zambia achieved one of the best tariffs in Africa of 6 cents per kilo watts per hour from the Ngonye and Bangweulu projects, stating that this was achieved with the technical help from Renewable Energy for Africa Solutions.

Speaking on the sidelines of the Ethiopia Investment Conference organized by Renewable Energy for Africa Solutions, Energy Minister Matthews Nkhuwa said the documentation for the new legislation is already with the Ministry of Justice and government is hopeful that it could be tabled in parliament soon.

He said Zambia has an opportunity to demonstrate that generating power by the private sector can be done at low tariffs. This in effect will lift a lid on the monopoly that Zesco currently enjoys through off grid solutions.

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Zambia has advanced plans to upgrade the

Companies

Ditec Engineering Limited, a Zambian engineering company has pledged to invest US$3.5 million (about K42 million) to build a mixed use shopping mall and business park and renovate a three-star hotel in Mansa district of Luapula Province.

Ditec Engineering Executive Director Mark Luchembe told the Zambian Business Times – ZBT in an interview that the company is in the course of signing a Memorandum of Understanding – MoU with Mansa Municipal Council and that tremendous progress has so far been recorded hence confident the actual implementation of the project is expected to commence at the beginning of the 3rd quarter of this year 2019.

He added the project is expected to be completed in a period of 18 months and that it will provide employment to the province during and after completion of the project. Luchembe said the upgrade of Mansa Civic hotel will attract more customers and tourists in the district at it will be modernized.

He added that the construction of the new shopping mall and business park will also attract investors in the province as it will have different retail shops and office space at the business center, which is expected to contribute to job creation.

He further indicated that the company has plans of extending the development to other provinces in country and that once the Mansa project is completed, the engineering firm will then focus on other towns in Zambia, a move that will contribute to the development of the country.

And in a follow up interview by ZBT with the Mansa Municipal Council, town Clerk Sombo Kaela said the project to be undertaken by Ditec Engineering is a milestone to the people of Mansa and has since commended the company for its decision to invest and contribute to development in the district.

She told ZBT that the project will bring development closer to people with social and business amenities which will be provided as the mall will consist of different shops and office space hence easy and close proximity to goods and services.

 

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Ditec Engineering Limited, a Zambian engineering company

Agribusiness

Mansa Chili Managing Director Robinson Mwansa told the Zambian Business Times – ZBT in an exclusive interview that the company in partnership with small scale farmers located in

the Northen Region of Zambia is committed to produce chili pepper in compliance to global standard.

Mwansa further disclosed that the company is currently on course in setting up a factory in Chembe district of Luapula province adding that the move will stimulate economic activity and is result in reduction of poverty levels in rural areas through job creation.

He further revealed that the chili production line equipment was purchased by Musika Development Initiative Ltd with grant funds provided by SIDA and UK Aid and that the installation date of the equipment by the manufactures in Chembe district will be communicated on a later date.

The Mansa Chili Managing Director further told ZBT that the company recently signed an agreement with Shoprite, the largest consumer retail supermarket in Zambia to engage Mansa Chili in its supply chain and that the retail store is willing to offer shelf space on conditions that the chili powder was of high quality and met food safety and hygiene standards, an objective which the company is working towards.

“In this vein, should our products succeed on the Zambian market, Shoprite Zambia is prepared to try our chili powder products in their retail outlets in other countries where they operate, such as South Africa and Nigeria. This is why we have started conducting trails for the chili pepper varieties suitable for the South African and Nigerian markets,” he said.

Mansa Chili Limited is a Start-up export-oriented Rural Enterprise based in Mansa, Luapula province, the company was established in 2014 and it has pioneered into chili pepper production, processing and packaging, centered on Out-Grower Scheme model of agriculture and operates from an out-grower’s satellite farm center in Chembe district.

The out-grower scheme has about 15 000 farmers in Luapula, Muchinga and Northern Province who have been engaged in the project providing rural farmers with farming inputs to grow Chili. The project which is aimed at providing input and support to small scale farmers in rural areas currently has a team of farmers in the three provinces producing chili on which some of it is later sold to the company.

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Mansa Chili Managing Director Robinson Mwansa told

Markets

Bank of Zambia – BOZ Deputy Governor Dr. Bwalya Ng’andu has formally announce the going live of the National Financial Switch (NFS) on which the automated teller machine (ATM) transactions have migrated from the Visa platform to the local platform being referring to as the NFS.

The National Financial Switch – NFS is the first ever local nationwide shared platform which will facilitate for interoperability of digital payments through-out the Country. The switch will also save the country forex which was previously paid out by the different banks to Visa for clearing/switching local transactions and other financial services.

This will reduce the dependency on cash and its associated risks by providing stakeholders with shared infrastructure, it will also reduce acquisition and ownership costs for the service providers which should ultimately benefit customers through reduced fees and charges for the services that they get.

And when asked by the Zambian Business Times – ZBT what benefit the switch will have to the Nation, Zambia Electronic Clearing House Limited (ZECHL) Executive Director Francis Lwanga said that when fully implemented, the NFS will bring about a wide range of benefits which will include among others reduced transaction fees and charges to customers because of the removal of international switching fees.

Other benefits to the Zambian economy include convenient, easy access and usage of electronic payment systems (ATM, POS, Mobile) through multiple access points countrywide. Luanga further stated that the local switch will increase innovation by creating a common payments loop for ATM, POS, Internet Banking, Mobile Banking, Agency Banking and other customer driven e-commerce products and services that might be introduced into market as well as reduced dependency on cash as people will have greater access to digital financial services.

Prior to this migration, all domestic card transactions were switched outside the country and treated as international transactions and were accordingly priced as such. This will be a major cost and forex save for the country.

This means that debit or credit card holders can now transact on any of the 14 registered banks’ ATMs countrywide and their transactions will be switched locally through our National Financial Switch while four other banks have not migrated due to various reasons.

The National Financial Switch project itself is being been implemented as a two-phase project. Phase one involves switching ATM and Point of Sale (POS) transactions from the VISA platform to the local Switch and phase two will involve switching mobile payments transactions.

While the switching of ATM transactions has gone live as already, the go-live date for the point of sale transactions is scheduled for the third quarter of 2019 which will effectively complete the implementation of phase one.

“With its completion, customers will be able to send money or make payments using their phone or other mobile devices such as tablets to any other recipient regardless of which mobile network they subscribe to”.

Further, “since the switch will interconnect with banks, non-bank financial institutions and other payment system service providers, customers will be able to transact from a mobile money wallet to any other mobile money wallet; from a mobile money wallet to a bank account and vice versa,” he added.

The establishment of the National Financial switch started in 2014 as a project under the auspices of the Zambia Electronic Clearing House Limited. This is a company co-owned by the Bank of Zambia and Commercial Banks but operates as an independent entity. It was established with the objective of providing interbank clearing and payment services in the country.

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Bank of Zambia - BOZ Deputy Governor

Markets

The Economic Intelligent Unit (EIU) report has indicated that Zambia will continue to deepen its relations with its main bilateral creditor China, and in exchange, Chinese state-owned lenders will probably agree to a debt restructuring preventing a sovereign default.

However, the EIU projects that the restructuring will be on the proviso that the government borrows more (albeit at a lower rate) for a string of Chinese-contracted infrastructure projects and potentially allows debt-for-equity swaps on state-owned enterprises.

As a consequence, the government’s dependence on China will be a double-edged sword providing some financial relief in the short term, but compromising relations with Western donors and investors as well as jeopardizing long-term debt sustainability.

The EIU report further stated that an IMF loan deal is not expected to be reached in the medium term given planned public borrowing by government slowing down economic growth in the country.

The report states that economic policy will remain erratic with sudden changes to the regulatory environment as the government attempts to meet its spending needs. Without external support, policy will be erratic.

The IMF has warned that unless there is a slowdown in new borrowing, debt management will become difficult and has since recommended that government avoid contracting any new non-concessional debt and has proposed stepping up the raising of revenue and halting the build-up of new arrears as well as aligning the pace of spending on well-targeted public investment projects.

The IMF is not expected to agree a deal with Zambia within the forecast period and traditional donors will also stay away amid concerns about corruption, authoritarianism and uncontrolled borrowing.

Meanwhile, the country’s economic growth in 2019 is projected to be at 3.0% with monetary conditions expected to be tight and a combination of factors hampering agriculture and mining.

The Agricultural output has been struck by drought and a below-average harvest causing the government to ban food exports while dry weather has likewise affected power generation at the Kariba hydroelectric dam raising the prospect of power supply gaps affecting industry.

President Lungu is on record to have asked Zambia’s bilateral and multilateral partners to allow the country chose its own friends. Zambia has had a history of being non aligned. Zambia attends both the US-Africa and China-Africa summits to network and maintain relations with the the two world’s largest economies.

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The Economic Intelligent Unit (EIU) report has

Mining

The Center for Trade Policy and Development – CTPD has noted the need by government to create a policy framework and conducive environment for small scale miners and energy sector players to thrive as they play a critical role in contributing to the overall national economic development.

CTPD Executive Director Isaac Mwaipopo says small scale miners play a critical role to the country’s development hence the need to help revamp their businesses in the mining sector by creating strong linkages.

Speaking at the close of the Zambia International Mining and Energy Forum – ZIMEF in Lusaka on June 14th, 2019, Mwaipopo said most of the challenges that the country is facing including the creation of jobs and widening of the tax base can be realized through effective linkages and the contribution of [local businesses such as] small scale miners, suppliers and contractors.

He revealed that through surveys undertaken by the center, small scale miners are lacking information on how the sector operates and take advantage of existing support hence the need to improve the flow of information to enable them benefit from already existing financial support.

Speaking at the same event, an expert in oil and gas T Chikwanda also noted the need to strengthen the bond between bigger mining players and small scale miners. Chikwanda said there is a weak linkage between the bigger and multinational mining players and local SME’s hence the need create capacity development and skill transfer.

And Ministry of Trade Director for Industry John Mulongoti said the local businesses which is the majority of SME sector is important in contributing to the country’s economy as it has the majority of entrepreneurs. He said government has invested in SME’s by forming corporatives to support them in services delivery, trainings and skill enhancement and in improving their businesses.

‘Government has been working with SME’s by improving their business and work culture and through the trainings that they undergo, some of them have started getting contracts from the mining houses’ he said. He however did not name the ones that had gotten contracts.

Zambia’s Mining, oil and gas sectors are dominated by big multinational players with no clear policy on local companies and SME’s linkages to ensure that some values and skills transfers are attained. This remains a challenge as there is no regulatory requirements for local content or even guidance for say x% of the procurement to be done by local Zambian businesses.

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The Center for Trade Policy and Development

Companies

The National Road Fund Agency – NRFA has confirmed the release of k136 million from the Ministry of Finance and has since commenced the payment process of the Kazungula bridge project and small-scale contractors across the country.

On June 11, 2019 Ministry of Finance released k136 million to NRFA to settle arrears related to road projects and other related activities.

Confirming the development to the Zambian Business Times – ZBT in an interview, NRFA Public Relations Manager Alphonsus Hamachila said K28 million from the released funds has been set aside for ongoing works at the Kazungula bridge.

Hamachila added that the Agency has paid 300 local routine maintenance contractors involved in small scale roadworks with over 15,000 employment workforces across the country.

He further said the Agency is expected to complete the payment process within a week and that main sub-contractors and road consultants will be funded in the next trench to soon be released by government.

“We have been given specific instructions to pay route maintenance contractors in respect to controlling road marking, drainages, pot hoe punching and the Ministry of Finance has assured us that it will release another trench in due course which will now cater for big projects such as the Kafue Mazabuka road” he said.

He explained that Agency has since cleared outstanding invoices for road contractors and that the process will be undertaken in sequence.

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The National Road Fund Agency – NRFA

Politics

Minister of Information and broadcasting Dora Siliya MP has dispelled rumors that there is a solar power grand call for proposals by government through the ministry of energy.

The government spokesperson stated in a statement made available to the Zambia Business Times (ZBT) that government would like to dispel rumors circulating via email and on social media platforms that the Ministry of Energy together with the World Bank and USAID are awarding Grants under a call for proposals.

Siliya said the call for proposals ref: moe/sp/16452/19 Solar Power Grant programme is using the Honorable Minister of Energys name Mathews Nkowa MP which is misleading the general public.
“The General Public is being advised that there is no such Programme being implemented by the ministry of energy or minister’s office.

Government has not issued any communication concerning the alleged Solar Power Grant Programme. The General Public should also note that the email address mathewnkhuwa1@gmail.com being used is a counterfeit and is not honourable Nkhuwa’s official address” the statement reads.

The minister has said that this is fabrication by fraudsters is aiming at swindling unsuspecting solar dealers and as such, any communication originating from the above email address should be ignored.
She says government is investigating people behind this cybercrime and that action will be taken as soon as the culprits are caught.

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Minister of Information and broadcasting Dora Siliya

Companies

The Zambia Association of Manufactures has challenged local producers in the country to take advantage of Zambia’s bilateral agreements with other countries to trade at regional and international levels.

ZAM President Roseta Chabala says there is need for local manufactures to begin to compete at regional levels as government’s agreements with other countries has made it easier for local producers to access internal and regional markets.

In an exclusive interview with the Zambian Business Times – ZBT Chabala said Zambian manufactures should also take keen interest in producing products that can be exported to other markets to improve the manufacturing industry in the country.

She further noted the need by manufactures to improve the quality of products, packaging and pricing stating them as challenges commonly faced with suppliers hence the need to address these factors if Zambia’s products are to meet regional and international standards.

Chabala further revealed to ZBT that a good number of manufactures are performing well and have gained notable market share outside the country such as Zambeef and Trade kings and has since called on other companies and entrepreneurs to come on board and grow the export industry.

“For those that are joining the industry, I encourage you to be patient, innovative and keep reinvesting as growth in the manufacturing industry does not come easily, so you need to focus and put much efforts and you will definitely grow with time,” she said.

The ZAM president has however appealed to existing and upcoming producers to be efficient and effective in service delivery in order to grow their businesses and gain a larger market share.

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The Zambia Association of Manufactures has challenged