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Companies

ZESCO Limited has with immediate effect closed its Kafue Customer Services Centre located in Kafue Estates until further notice.

This is in a bid to complement Government efforts of mitigating the further spread of the Coronavirus (COVID – 19) pandemic, after the country recently recorded three (3) confirmed cases in the Kafue area.

The Corporation further advises its customers and the general public countrywide that it has suspended services such as new installations, processing of new applications and construction because of the risk they pose not only to ZESCO Limited employees, but also to its esteemed customers.

“We continue to urge our customers to minimize walking into Customer Service Centers in all parts of the country, but instead utilize the available online platforms to buy electricity through service providers such as commercial banks, mobile money platforms (MTN, Airtel and ZAMTEL) and KAZANG, a super-vendor”, said Director – Commercial and Customer Services, Mr. Chiti Mataka.

According to a statement made available to the Zambian Business Times – ZBT by ZESCO Head of Public Relations Hazel Zalu on April 16, 2020, the power utility company has ontinued to encourage its customers and the general public to all the time adhere to preventive measures as directed by the Ministry of Health by, amongst others: consistently wearing face masks and face shields when in crowded and work places, regular and correct washing of hands with soap and water, avoiding handshakes and hugs, keeping social distances of at least one meter from each other, drinking a lot of fluids and frequent rubbing of hands with alcohol-based hand sanitizers, to mention but a few.

Mataka said with strict adherence to the above measures, ZESCO Limited is confident that these preventive measures will contribute to mitigation against the further spread of the COVID-19 pandemic.

The Corporation also wishes to advise it’s esteemed customers in the Kafue area that it is continually monitoring the situation, and will keep all concerned informed about developments concerning the area office.

Mataka added that ZESCO’s objective is to ensure that an enabling occupational health environment is attained before due consideration can then be given to the re-opening of the area office.

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ZESCO Limited has with immediate effect closed

Tech

Airtel Zambia Head of Corporate Communications Yuyo Kambikambi exclusively told the Zambian Business Times – ZBT that the company has put in place measures to support e-money transactions where Tier 1 customers [mostly retail] can now transact up to K20,000 per day from K10,000 while on Tier 2 customers [mostly enterprises] can transact up to K100,000 from K20,000.

“We are also currently not charging for any Airtel to Airtel transactions until 30th April 2020. All these measures have been put in place to ease the needs of our customers including those working from homes and those undertaking e-learnings,” She added

Kambikambi said the service provider is also disseminating messages about the pandemic at no costs to the entire base of Airtel customers every day and has donated some phones to the Lusaka Provincial Health Office to assist them as they follow up patients.

Airtel further told ZBT that it has tailored some solutions to meet the customers’ voice and data needs from homes during the current COVID-19 period by offering a 10GB free data package when a customer purchases a 4G pocket Wi-Fi device for K249.

Customers can also get 40GB free data when they get a smart box for K499. This package is aimed at easing the needs of customers in the current COVID-19 pandemic period and enable them access internet services especially for those working from home.

There has been calls from the general public requesting Zambian network providers to further reduce voice and data tariffs to enable individuals doing their work online and taking school lessons from home to have access to affordable internet especially during the period of the COVID- 19 pandemic.

On the question of reducing tarrifs for voice and data services in view of the need for more access during the pandemic period, Airtel however indicated that it offers the most affordable product on the Zambian market called “Ikali”. This offering has both voice and data bundles that come with daily, weekly and monthly options.

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Airtel Zambia Head of Corporate Communications Yuyo

Markets

The Bankers Association of Zambia – BAZ has called on local businesses in the country that have been impacted by the COVID-19 to take advantage loan packages offered by the banking sector to sustain their businesses during this period.

BAZ chief executive officer Leonard Mwanza told the Zambian Business Times – ZBT in an exclusive interview on April 16, 2020, that those in need of financial assistance should approach their respective banks to seek help for additional cash flow and loan restructuring.

Meanwhile, the Central Bank has taken strong measures aimed at ensuring businesses and households can be supported directly working through commercial banks and these include the establishment of a medium term refinancing facility of K10 billion which will enable banks and other financial services providers support businesses.

Absa Bank Zambia has also announced a loan repayment package holiday for 3 months for eligible customers impacted by COVID – 19 to ease the financial and economic implications the virus has brought on the country.

Mwanza has noted that local businesses have adversely being affected as cash flow has reduced, hence in order to meet their obligations, the banking sector has realized the need to help by providing them with options of financing their businesses.

He added that the closure of businesses and suspension of works inclusive of the businesses in the tourism industry has not spared the banking sector, however solutions are being found to enable the continued flow of funds in the country’s economy.

“We have also seen the mining industry advocating to go on care and maintenance, all these are signs that the economy is not doing well across most sectors, however financial solutions are being identified to help business sustain themselves especially in this period.

Mwanza has also encouraged the use of digital channels and mobile payment mechanisms to prevent the spread of the disease by minimizing person – to – person contact and decongesting Banking halls.

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The Bankers Association of Zambia – BAZ

Markets

Zambia and its largest African trading partner, South Africa have agreed on modalities of how the smooth flow of traffic and in effect trade would be attained despite the restrictions on movement due to the health measures to contain the coronavirus – covid 19 transmission.

Despite Zambia running a deep trade deficit with South Africa, the country has continue to facilitate expanded trade with South Africa being the major supplier of consumer goods to Zambia while Zambia has little exports to South Africa to talk about. South Africa also uses Zambia as a transit route for its exports to the vast market in the Democratic Republic of Congo – DRC.

The statement received from the Ministry of Finance by the Zambian Business Times – ZBT stated that Zambia and South Africa have formed a private sector working group to create a framework targeted at ensuring the smooth flow of essential goods and services, during the Covid-19 partial lockdown in Zambia and full lockdown in South Africa.

The two countries have discussed the necessity of ensuring that South African Chain Stores operating in Zambia open their doors wider to local producers and suppliers to ensure that there is business continuity and empowerment during the Covid-19 period and beyond.

Speaking at a meeting chaired by Deputy Secretary to Cabinet Christopher Mvunga on 9 April 2020, the Zambian Government has placed the sustenance of the value chain and continued empowerment of local businesses at the centre of its economic sustainability and emergency purpose plans for the immediate term and the future.

And Finance Minister Dr. Bwalya Ng’andu encouraged the Zambian private sector to rump-up participation in the value-chain and take advantage of the internal market platforms while maintaining quality standards, regular supply and stable prices to the greatest extent possible.

And South African High Commissioner to Zambia George Twala said his office is ready to work with Zambian authorities to facilitate strengthened engagement between private sector players of the two countries and ensure that the value and supply chains are kept in motion.

Twala called for a proactive review of trade and economic affairs that need to be reviewed in the entire value chain to ensure a fast paced programme that will mount a lasting positive impact on the future economic relations between the two countries.

Among the other key issues discussed was import substitution, mutual market access, supplier payment systems, banking and financial services, transport and logistics, smoothening of regulatory matters, border clearance and transit insurance, and the creation of the Zambia and South Africa working group on trade and economic facilitation during Covid-19 and beyond.

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Zambia and its largest African trading partner,

Mining

The Centre for Trade Policy and Development – CTPD has urged Government to promote and safeguard the environment in the exploitation process of the gold resource by crafting legislation that prohibits the wanton use of mercury in the booming artisanal and small scale gold mining operations.

This call comes after an observation that the artisanal and small-scale gold mining – ASGM sector in Zambia is increasingly being seen as a source of wealth and future employment opportunities for those who cannot get jobs in the formal sector.

CTPD has stated that the use of mercury in the gold mining sector is a serious health and environmental threat for communities hosting the gold resource, as the wanton use of Mercury in gold processing results in the contamination of rivers and streams hence poses a serious health risk for people who drink and fish from those water bodies.

The Center’s senior researcher Webby Banda has told the Zambian Business Times – ZBT that there is need to sensitize and train artisanal and small – scale gold mining operators on efficient use, provide them or help them acquire mercury capture devices such as retorts or fume hoods to capture mercury vapor emitted when the mercury/gold amalgam which is burnt.

“In mineral processing, the gold is usually mixed with mercury to form an amalgam and the formed amalgam is heated to separate the gold from the mercury. This heating process discharges toxic mercury vapours which are very dangerous to human health. Mercury in its vapour form is known as elemental mercury. This form of mercury attacks the central nervous system, destroys kidneys, and leads to auto-immune impairment and respiratory distress. High exposures can lead to long life disability,” He added.

Banda further notes that a safe environment and healthy miners are critical aspects of promoting responsible and sustainable supply chains in the artisanal and small-scale gold mining sector. He warned that Zambia should learn from other countries on the dangers of unregulated or untrained use of mercury in gold processing.

CTPD has called on Government to sensitize gold diggers and mineworkers on the safety and health protocols that can be followed to avoid poisoning, saying if the use of mercury cannot be limited or prevented, there is need for Mineworkers to work in well-ventilated areas to reduce the exposure to the mercury/gold amalgam.

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The Centre for Trade Policy and Development

Lifestyle

Zambian Breweries country manager Jose Moran has disclosed that the Brewing company, through its Budweiser brand, is sponsoring online parties to reduce the temptation of opening night clubs.

“The health and safety of our customers is top priority. It is for this reason that we have partnered with Zambian DJ Sébastien Dutch to host online parties on Saturdays for party lovers to club while at home,” he said.

Moran has pleaded with distributors and bar owners to follow government’s directive to close bars and night clubs during the COVID-19 outbreak. President Edgar Lungu had on March 25, 2020 directed the closure of bars and night clubs across the country as a measure to curb the spread of COVID – 19.

And Zambia Breweries Country Director Jose Moran says the company stands with the authorities in fight against the coronavirus hence people should also come together in doing the right thing to protect the country.

“As a law-abiding corporate citizen, Zambian Breweries stands together with the authorities and the nation in the fight against this virus. Government has stopped people meeting together in public places, including bars and restaurants. Licensed outlets may still sell alcohol, but it cannot be consumed on the premises, however this should be followed, He added.

In a statement made available to the Zambian Business Times – ZBT, Moran has dvised bar owners to consider incorporating takeaway services in their businesses to continue running during the COVID-19 outbreak.

“For bar and pubs owners, we can still operate our businesses as takeaways for home consumption. But we need to stay closed and avoid unnecessary crowds. Let’s be part of the solution, and not the problem,” he emphasised.

The Zambian Breweries country director maintained that beer-lovers can enjoy responsibly from home until COVID-19 was defeated adding that one can still buy beer at any licensed outlet, but enjoy responsibly at home not at a bar, in a pub or in any public space.

Moran is however confident that business would go back to normal soon as meausres government has put in place are being adhered to and he stressed the need for togetherness in the war against COVID-19.

“We are all in this together, and together we need to fight and stop this virus for us, for our families, for our country and our future,” he noted.

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Zambian Breweries country manager Jose Moran has

Markets

The South African Reserve Bank has cut the repo rate by 100 basis points or one percent point brining South Africa’s repo rate to 4.25%.

In a tweet seen by the Zambian Business Times – ZBT, Reserve Bank governor Lesetja Kganyado said the decision by the bank’s monetary policy committee – MPC was unanimous and the cut will go into effect on April 15, 2020.

This announcement is the second major cut in less than a month after the Bank cut the rate by one percentage point in mid-march. In mid-January the bank lowered the rate from 6.5% to 6.25%. The repo rate is the benchmark interest rate at which the reserve bank lends money to other banks.

And when the Bank of Zambia was reached for a comment on whether Zambia is considering reducing the MPR and in effect the lending rates as per trend set by the likes of regional economic powerhouse, South Africa, given the current situation of COVID- 19 which has impacted the global economy, BOZ Head of Communications Besnat Mwanza said the decisions on the monetary policy rate – MPR will be decided during the next MPC meeting set for May 20th 2020.

She said the Bank has taken strong measures aimed at ensuring businesses and households can be supported directly working through commercial banks and these include the establishment of a medium term refinancing facility of K10 billion which will enable banks and other financial services providers support businesses and individuals.

“You may wish to note that the COVID – 19 response measures we have taken so far are risk based and appropriate for our economic environment,” She added.The Bank has since pledged to continue supporting the private sector and retail lending clients by easing provisioning rules in the current situation.

Meanwhile, BOZ had on February 19, 2020 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.

The committee also noted that economic activities have continued to weaken in the country and liquidity challenges have persisted hence they continue to pose risks to financial stability.

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The South African Reserve Bank has cut

Markets

As Zambia confront the public health, financial and economic implications of the COVID-19 pandemic, Absa Bank Zambia has announced an opt-in loan relief package for eligible customers impacted by COVID-19.

Absa Bank Zambia Managing Director  Mizinga Melu said in a statement made available to the Zambian Business Times – ZBT on April 14, 2020 that following thoughtful consideration and engagements with regulators, the Bankers Association of Zambia and Absa Group Limited, the Bank is proceeding to extend a comprehensive Retail, Business Banking and Corporate relief package effective Wednesday, 15 April 2020.

“We recognise that the financial wellbeing of some of our individual customers and businesses may have been adversely affected during this time. This package which includes a three-month payment relief among other payment relief solutions is one way of helping bring possibilities to life for our customers. We however urge those of our customers who are able to continue meeting their debt service obligations to continue with repayments to allow us to reach out to many more clients who are not in a similar position,” said Mizinga Melu.

She added that eligible customers in need of short-term liquidity will qualify for the relief package that applies to Absa’s credit products.

Melu said these relief measures apply to Absa Zambia’s Business Banking, Premier, Prestige and Personal Banking Retail customers adding that the package incorporates a three-month payment relief and allows customers to reduce or defer their monthly instalments.

The package is further said to not attract additional administration fees for customers and support will entail solutions based on their unique requirements and operations.

Absa Bank Zambia is since committed to helping customers during this period of anxiety and hardship. While this relief package is for an initial three month period, the Bank will review its program should macroeconomic conditions deteriorate
further.

Melu added that in implementing this package, Absa Bank Zambia will comply with applicable laws and regulations in Zambia whilst remaining committed to delivering banking solutions that are tailored for it’s diverse customer base.

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As Zambia confront the public health, financial

Companies

Absa Bank Zambia has pledged a donation to the Ministry of Health and the Disaster Management and Mitigation Unit (DMMU) as part of relief efforts undertaken by the two organisations towards the COVID-19 crisis as well as the flooding in Luapula Province.

The donation is directed towards the purchase of 20 Oximeters to the Ministry of Health, who are leading the fight against the COVID-19 pandemic.

Absa Bank Zambia Managing Director Mizinga Melu said this equipment is vital for attending to patients experiencing respiratory problems and assists in monitoring the oxygen and heartbeat levels of patients.

The Bank has also donated 500 roofing sheets and 200 blankets to the DMMU as part of the relief package towards victims of the recent floods in the Lunga District in Luapula Province.

The floods have caused damage to homes and schools leaving several families displaced and rendered homeless.

“At Absa, we believe that our role in society goes beyond our business performance but through our actions and contributions that enable our communities to access a better life, filled with possibilities. We pride ourselves at being an active force for good and changing people’s lives for the better”, She said.

Melu further stated that Absa Zambia realises the pressure on the Government to address all these calamities at the same time and hence the decision to support and compliment efforts.

“We appreciate that in light of the COVID-19 pandemic, the additional responsibility of addressing the flood victims in Lunga District puts considerable pressure on the limited Government resources. As such, we see it fit as an organisation to do our part to ease some of the burden,” She added.

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Absa Bank Zambia has pledged a donation

Companies

Zhongkai International Limited, an Ethanol processing plant, has disclosed that Cassava is currently running out on the Zambian market due to demand for the crop used to manufacture ethanol. Ethanol’s demand has skyrocketed on covid 19 as its used as an additive in hand sanitizers and other hygiene products.

Zhongkai Managing Director Chen Guiping disclosed to the Zambian Business Times – ZBT in an exclusive interview on April 9, 2020 that the company is in the next two weeks expected to diversify and start buying over 5,000 tonnes of molasses as cassava is currently running out on the market due to it’s high demand in the current COVID – 19 situation.

Zhongkai has announced its plans to buy over 5,000 tonnes of molasses at an initial cost of K6 million for the production of ethanol which is used for hand sanitizers and other hygiene products. Molasses is a by-product resulting from refining of sugar cane during the sugar production process.

He told ZBT that currently, the company uses 250 tonnes of cassava in a day which costs about K2,000 to K5,000 per ton hence we are likely to use 500 tonnes of molasses in a day to cost about K7,000 per ton. Zambia Sugar however sets the price per ton which may vary.

Guiping disclosed to ZBT that cassava is slowly running out on the market as farmers have not yet harvested, hence the need to modify to the use of sugar cane molasses to ensure people are still provided with ethanol to be used for formulating hand sanitizers and other hygiene products especially during this COVID – 19.

He said the company has since seen an increase in production by over 30 percent in this period as it’s products are currently being sold across the country and has advised farmers to grow more cassava and diversify to other plants and crops like sugarcane saying the market is readily available for them.

“Currently we buy our cassava from Northern, Luapula, Western and North – Western provinces, however we are ready to extend our buying program to other places if only farmers are ready to grow and sell their cassava to us through our partner offices at Musika, and we are also buying our molasses from Mazabuka”, He said.

He also said the company has employeed over 25 agricators across the country who train famers on how to grow, prepare and harvest dry cassava to make it ready for the market. This initiative is meant to help increase production of Cassava.

In addition, Guiping said from July 2019 to date, the company has bought over 7,000 tonnes of cassava from farmers and has since anticipated to purchase close to 50,000 tonnes of cassava for the 2020/2021 marketing session.

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Zhongkai International Limited, an Ethanol processing plant,

Contact

Email: info@zambianbusinesstimes.com
Phone: +260 977 754 890

Lusaka office
Plot 127, Along Ngwerere Road, Lusaka, Zambia

Zambian Business Times