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Agribusiness

In an effort to mitigate the challenges currently being faced by tomato farmers in Zambia which which are also affecting their profits, the Agriculture Consultative Forum has urged tomato farmers to conduct market research and plan their production accordingly.

The advice comes as many tomato farmers in Zambia are struggling with low prices due to overproduction.

Speaking in an exclusive interview with the Zambian Business Times (ZBT), Agriculture Consultative Forum executive Director Masiye Nawiko emphasized the importance of farmers targeting peak periods when prices are high.

“What our farmers need to do is to do some market research and plan for a particular time of the year when the price is always high. When they are planning to grow tomatoes, they should target the peak period when the price might be high,” he advised.

“Otherwise, tomato farmers will be having the same issues where they invest a lot in the production of tomatoes, and all of a sudden, the prices come down because of too much supply on the market,” cautioned Nawiko.

Nawiko noted that farmers might have been caught off guard, hoping that tomato prices would continue to rise.

“Maybe that’s why they invested a lot in the production of tomatoes,” he said.

He reiterated that by conducting market research and planning their production, farmers can avoid the pitfalls of overproduction and maximize their returns.

Nawiko’s advice is therefore a timely reminder that farmers must be proactive in understanding market dynamics to remain competitive.

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In an effort to mitigate the challenges

Lifestyle

In a bold move towards a sustainable energy future, Governance and Development Advocates Zambia has called on senior government officials to lead by example in embracing alternative energy sources.

The call to action comes as Zambia faces severe electricity constraints due to the ongoing drought, which has significantly impacted the country’s electricity supply.

Speaking in an exclusive interview with the Zambian Business Times -ZBT, Governance and Development Advocates Zambia Executive Director Elias Mulenga emphasized that leadership by example will not only show solidarity with the Zambian people but also pave way for a sustainable energy future for the nation.

“We understand the importance of leadership by example. Therefore, we are committed to ensuring that senior government officials demonstrate the use of these alternative energy sources in their official and personal capacities,” said Mulenga.

Mulenga also acknowledged the hardships faced by citizens and emphasized the need for urgent action.”

As we navigate through these challenging times, it is imperative that we explore and utilize alternative sources of energy. Zambia is endowed with abundant renewable energy resources, including solar, wind, and biomass. We encourage our communities to harness these alternatives as a means to mitigate the current electricity constraints,” he said.

“We stand united in our efforts to overcome these electricity challenges and move towards energy independence, resilience, and sustainability,” said Mulenga.

Mulenga’s message is a clear indication that it’s time for Zambia to embrace a sustainable energy future, which should start with leaders leading by example.

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In a bold move towards a sustainable

Lifestyle

The Zambia Revenue Authority – ZRA has partnered with BDO Zambia to launch a smart invoice which is designed to provide the information that is needed to the most of the smart Invoice.

speaking at the launch, Debbie Nonde Tax Director/Partner of DBO Zambia Limited expressed her excitement over the partnership with Zambia Revenue Authority – ZRA, which will see the Implementation of the smart Invoice system.

she said the smart Invoice is meant to save the client btrer as BDO Zambia Limited is aware of the penalties that apply.

She noted that BDO Zambia has partnered with the right people that wanted to be in place and looking forward to a smooth implementation of the smart Invoice.

“all the clients are required to be registered by 1st of July 2024, we want our clients to be fully aware and very prepared to use the smart Invoice.

she invited all the clients and all those that are looking forward to this implementation to another online meeting that is scheduled for next Friday 10hrs to 12hrs which will look at on board process on how it will done.

Speaking at the same event Kaoya Ntalasha Change Champion Smart Invoice, gave more insight on the smart Invoice, said the benefits of using smart invoice is that it caters for a variety of business types by offering multiple invoicing solutions such as the mobile client.

Ntalasha said the solution are software based thereby eliminating the use of physical devices.

He explained that the invoice reduces the cost associated with the purchase and use of paper based invoice book.

He said the targeted tax types on smart invoice which are the value added tax, insurance premium levy, tourism levy, excise Coal and electricity, rental income, turnover tax and taxpayers without VAT but on income tax.

Ntalasha said the smart Invoice will include a stock management module that  will  allow users to efficiently manager their inventory levels and stock movement between buyers and sellers.

“Invoices authenticated by smart invoice will have a QR code that can be scanned on any mobile application to receive a quick response massage on the validity of the invoice”. He said

He echoed that the implementation of smart invoice is a pivotal step towards modernizing and streamlining the tax administration process for a better Zambia.

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The Zambia Revenue Authority - ZRA has

Uncategorized

Success is key in each field of work and in football success is seen when a team manages to  win the league or makes it to a more competitive league at the end of the season.

Speaking in an exclusive interview with Zambian Business Times ZBT- Kelvin Ngoma the project Manager said the playoffs they take place every year after the league comes to an end to compete in order to move to another league.

“Each province has a provincial league and the winner of the league from each province they meet to compete in the playoffs and the winner of playoffs moves to Division one, the league just below the premier league”.

This year’s playoffs will take place at the heroes stadium in Lusaka starting from the 16th to 21st of June, 2024, each team that makes it to the playoffs presents the whole province, he added.

The teams are expected to be in Lusaka by the 13th to 14th of June hence the tournament starts at 16th, Said Ngoma.

Mgoma said, that there are working together with Football Association of Zambia (FAZ) in organizing the playoffs.

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Success is key in each field of

Tech

The construction of the $2 billion solar deal signed between the United Arab Emirates – UAE’s Masdar and the Zambia Electricity Supply Corporation Limited – ZESCO which was anticipated to cut Zambia’s power deficit, is facing delays as the UAE’s Masdar has confirmed that project development is still ongoing.  

In January 2023, ZESCO, the Zambian state-owned power utility, and Masdar, the United Arab Emirates renewable energy firm signed an agreement to develop solar projects in the amount of $2 billion. This was announced by President Hakainde Hichilema.

The project was expected to commence immediately, starting with the phased installation of 500 megawatts (MW). “Once completed, the projects will result in an additional 2,000 megawatts of electricity in the country, within the next few years,” President Hichilema said.

A check however with the UAE’s Masdar on the commencement of the construction has established that project development is still ongoing even at a time when the Country is facing 8 hours of power crisis.

Responding to an inquiry by the Zambian Business Times – ZBT, Masdar Corporate Communications Manager, Rob Sinclair said, Masdar will be sharing relevant updates in due course as project development was still ongoing.

“I have checked with the team and project development is still ongoing. Masdar will be sharing relevant updates in due course. We have no further updates that we can provide at this time.” He said.

The partnership between ZESCO and the UAE was seen as one way of increasing Zambia’s power generation capacity and improving access to electricity in the country.

Zambia has been grappling with a severe power crisis that has led to widespread load shedding, with the Country now experiencing up to 8 hours of blackouts daily.

The power shortages have had a significant impact on businesses and households, with many forced to resort to expensive alternative energy sources like generators. The deal with the UAE is expected to alleviate the power crisis and stimulate economic growth in the country. This is also expected to create job opportunities and boost the development of renewable energy sources in Zambia.

The $2 billion deal between ZESCO and the UAE was seen as a significant development for Zambia’s energy sector. If successfully implemented, the deal will not only alleviate the current power crisis but also create new opportunities for economic growth and sustainable development in the country.

The consequences of load shedding have been severe for Zambians as some Businesses have been forced to shut down and households have been left without power for extended periods. The lack of reliable electricity has also hindered economic growth and development, as industries cannot operate at full capacity.

The deal with the UAE could provide a much-needed solution to Zambia’s power crisis. If successful, the project could significantly increase the country’s power generation capacity and help alleviate the effects of load shedding.

This is expected to add an additional 2,000 megawatts to the national grid, which would go a long way in alleviating the current power deficit. However, the delay in implementing this project has left many people frustrated and concerned about the future of the country’s energy sector.

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The construction of the $2 billion solar

Tech

The Zambian Institute of Chartered Accountants – ZICA says it welcomes the several investment pledges, that were announced at the 2024 Mining Indaba in the mining sector.

Speaking during a media briefing in Lusaka attended by the Zambian Business Times – ZBT, ZICA President Yande Siame Mwenye said these pledges if actualized will help bring about employment Opportunities, Economic Growth, Foreign Exchange Earnings, Technological Advancements, and infrastructure development.

ZICA has since urged the Government and all the stakeholders involved to intensify efforts and actualize pronouncements and pledges made at the Mining Indaba.

She noted that among the key investment pledges, that were announced at the 2024 Mining Indaba in the mining sector include;

  1. The US$1.3 billion by China Non-Ferrous Mining Corporation (CNMC) into various operations in Zambia.
  2. First Quantum Minerals (FQM) investment of $100 million in Enterprise Nickel Mine -Africa’s largest nickel producer.
  3. First Quantum Minerals investing over US$1 billion to expand the Kansanshi mine and smelter.
  4. Kobold Metals, which uses Pioneering Artificial Intelligence, AI technology, had made significant progress in defining the orebody at its Mingomba project, following a $150 million investment in 2022.
  5. Barrick Gold Corporation doubled down on its commitment with a $2 billion investment to expand its Lumwana Mine into a ‘super-pit’, capable of producing 240,000 tonnes of copper per year when it comes online in 2028

“The Republican President Mr. Hakainde Hichilema addressed the delegates at the recently held Mining Indaba, which took place in Cape Town from 6th – 9th February 2024, where he made it clear that the mining sector is an important catalyst for national development; and further that the government was looking to significantly increase the production of copper and other minerals so that Zambia can reclaim its place as a leading copper producer on the continent.”

Mwenye noted that to support these ambitions, the Government has already introduced a friendlier mining tax regime and made clear intentions to bring stability to the sector, as well as ensuring regulatory fairness and the elimination of obstacles that stand in the way of new investment.

“As ZICA, we urge the Government and all the stakeholders involved to intensify efforts and actualize pronouncements and pledges made at the 2024 Mining Indaba. These pledges if actualized will help bring about employment Opportunities, Economic Growth, Foreign Exchange Earnings, Technological Advancements and infrastructure development.”

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The Zambian Institute of Chartered Accountants –

Markets

Evelyn Hone College lecturer in the School of Business and Media Mwiya Ikabongo has called on the Zambian government to prioritize strategies to reduce food inflation and boost the energy sector to aid in economic recovery.

Speaking in an exclusive interview with the Zambian Business Times (ZBT), Ikabongo emphasized the need to actualize the projected target of 6 and 8 percent inflation instead of the current rate of 13.8, which is twice the target.

Ikabongo highlighted the importance of stabilizing prices for goods such as maize, mealie meal, and rice, which have pushed inflation to the above the 6 – 8 target band.

Ikabongo also suggested the need to prioritize the productive sectors to abate the increased number of load shedding that has crippled various sectors.

He said the operating of the energy sector at full capacity would be a game-changer towards economic recovery.

He noted that It is crucial for the government to take action and prioritize strategies to reduce food inflation and boost the energy sector to aid in economic recovery.

Ikabongo said the stability of prices for essential goods and the operation of the energy sector at full capacity will go a long way in improving the economic situation in Zambia.

“The drought has affected a lot of sectors, but we would love to see food inflation being arrested many Zambians would love to see stability for prices for goods such as maize, mealie meal, rice, and others that have pushed the inflationary pressure, we expect food inflation to be a priority,” he said.

“We must commend the authorities that we have seen a stable price of fuel maintained for the past two to three months, this development allows for planning and eliminates uncertainty in the market, we hope to see more stability,” he said.

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Evelyn Hone College lecturer in the School

Companies

The first independent power producer in Zambia Lunsemfwa Hydro Power Company Limited – LHPC has bemoaned the effects of the drought which has hugely impacted their productivity which has now dropped to below 10 megawatts.

Lunsemfwa Hydro Power Company Limited (LHPC) operates two hydropower plants, Lunsemfwa and Mulungushi, in Central District in Zambia with a total installed capacity of 58 MW.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, LHPC Chief Executive Officer – CEO, Alpha Mwale said the Company is unable to produce at full capacity due to the negative effects of the drought which has reduced the water levels.

Mwale said although the Company is generating at the moment the water levels are very low with only few weeks remaining of generation.

“Although we are generating at the moment but i think we only have few weeks remaining because of the water levels are very low unless we receive some inflows.”

The situation of the drought is the same and I think all hydro power plants are experiencing the same situation.

Asked if the power plants are likely to be shutdown following the low water levels that have been recorded, Mwale said, “not shutting down completely, because we have two power plants so mulungushi we are shutting down one of the main valves to the dam so this shut down was going to happen with or without the drought because we are replacing the valve which is almost 100 years.” so there is a shutdown but its being driven by the project.

as of today we should be doing slightly less than 10 megawatts and when both plants combined production capacity is 56 MW.

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The first independent power producer in Zambia

Companies

CFAO Mobility Zambia has successfully delivered 3 garbage collection trucks to Nemchem international.

Speaking during the hand over ceremony of the Sinotruck HOWO to Nemchem international and attended by the Zambian Business Times – ZBT, CFAO Chief Operating officer, equipment division, Andre Venter, said the business relationship between the two companies was established many years ago and it has grown from strength to strength.

Venter said Nemchem had the need to acquire garbage collection trucks and approached CFAO to consider supply of the HOWO range of trucks for their needs.

Three trucks have been acquired which are being delivered are 2 garbage compactors, 20,000-litre capacity, 6×4 configuration, 380 horsepower Euro 2 models. To be used to household waste.

One skip loader / swing arm garbage truck, 12, 000 litter capacity (10 000 kg loading weight), 4×2 configuration, 300 horsepower, Euro 2 model. To be used for general waste.

He added that in addition, Nemchem also recently acquired a 16 ton 4×2 cargo van body truck from CFAO to be used for their internal distribution requirements.

Meanwhile, Cfao mobility Zambia Chief Executive officer, Dino Bianchi said Nemchem international is one of Cfao mobility Zambia’s most valuable business partners.

“We thank Nemchem for their support and CFAO will do everything possible to ensure great experience with these trucks.”

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CFAO Mobility Zambia has successfully delivered 3

Agribusiness

The Zambia National Farmers Union (ZNFU) has charged that winter maize farming in Zambia is unattainable due to the prevailing weather conditions.

Speaking in an exclusive interview with the Zambian Business Times -ZBT, ZNFU Manager Communication, Media and Public Relations Service’s, Elias Banda said that winter maize is unattainable in Zambia because it takes a lot of time to grow and requires a lot of water.

Banda said that unlike advocating for the production of winter maize, the government should consider giving irrigation support to farmers to grow and harvest early maize so that after the harvest of early maize farmers can also grow normal rain fed maize so that the Country can have two harvests in a year.

He noted that it is the two harvests in a year that will increase the Country’s food production.

He further noted that the government should provide support for winter irrigation farming to wheat farmers who are able to grow in winter.

He further revealed that ZNFU currently has no program for winter maize farming.

“As ZNFU we don’t have a program for winter maize and secondly, we hear that the government is giving farming inputs to farmers for winter maize. So our view is that winter maize farming is unattainable in this Country because of the weather. Winter maize farming uses a lot of water and the maize takes a long time to grow. This is official and this is what we told the President at state house when the farmers met with the President,” he said.

“Our thinking is that we should do early maize farming which starts from September, October and November and produce the maize in these three months and after producing, October, November and December we plant the normal maize. Government should give irrigation schemes and support to farmers so that they grow and harvest early maize so that after the rain comes, they grow normall maize so that we have two harvests in a year. If we do that all our problems will be sorted out.So our proposal is that let the irrigation and the energy be given to wheat farmers who are able to grow in winter,” said Banda.

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The Zambia National Farmers Union (ZNFU) has