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Amidst a severe drought in
Zambia, the demand for boreholes has surged, offering opportunities for
businesses while presenting challenges for water solution providers.

Speaking in an exclusive
interview with Zambian Business Times (ZBT), Dalitso Sakala, the CEO of
Dalimable Water Solutions, highlighted the increasing requests for boreholes,
especially from farmers grappling with the impact of the drought.

Sakala noted that while the
business is booming, there are challenges related to the dwindling water supply
and the prevalence of dry boreholes in some areas due to erratic rainy seasons.

He also raised concerns about
the accuracy of certain groundwater detection machines, emphasizing the need
for more reliable technology to avoid wasted time and resources.

Sakala pointed out that despite
these challenges, the demand for boreholes remains high, with prices varying
based on location and fuel costs. “Currently, the cost for a 50-meter borehole
stands at K19,000 Kwacha, up from K14,000 Kwacha last year due to rising fuel
prices and increasing demand.”

He said on average, the Company
now serves around 30 to 60 clients per month, translating to two or three
boreholes drilled per day during peak periods. “However, the completion time
for each borehole varies depending on the geological conditions, with some
taking as little as 3 to 4 hours and others requiring days or even a week to
finish.”

The situation underscores the
critical role of water solution providers in addressing the pressing water
needs brought about by the drought, while also highlighting the need for
improved technology and sustainable pricing models to ensure reliable access to
groundwater across Zambia.

“The machines that we
receive in Zambia some cannot give a 100% accurate indication of groundwater
and sometimes they detect moisture on the ground, which has resulted in waste
of time working on an area where there is no water”.

“In a month we get about
30 clients on a bad month but on a good month almost 60 clients, that means
it’s two or three boreholes in a day”.

“Finishing up one borehole
depends of the situation on the of area because some are stone and others are
just okay resulting in some been done in 3 or 4 hours while others can take the
whole day or week working on one borehole.” He said.

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  Amidst a severe drought inZambia, the demand

Companies

The Zambia Industrial Commercial Bank (ZICB) has signed a Memorandum of Understanding (MOU) with the Zambia Army to provide affordable financial services to Zambia Army staff.

According to a statement issued by ZICB Corporate Affairs Manager Luke Njovu, the MOU enables The Zambia Army personnel to access personal loans, business loans, and other banking products at competitive rates with flexible terms.

Speaking during the signing ceremony at Army Headquarters, ZICB Head of Public Sector, Winnie Chitondo, expressed ZICB’s commitment to supporting the financial needs of The Zambia Army staff. She assured The Army of the bank’s full support in meeting their financial requirements.

“As ZICB, we are dedicated to providing comprehensive support to The Zambia Army and its personnel. We will refinance existing loans from other firms, restructure them, and offer affordable loans along with other supportive products,” Chitondo stated.

“We will also assign a team to provide financial literacy training and educate The Army staff on available investment opportunities in the Zambian market, aiding them in growing their businesses,” she added.

The Zambia Army commander’s representative Brigadier General Nathan Chiselwa expressed gratitude to the bank for its commitment to financial inclusion and urged the bank to explore further partnership opportunities.

“We, as the Zambia Army, are pleased because this MOU will enable our staff to access affordable financial packages. This will empower our personnel to achieve more and ease their financial burdens,” the representative said.

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The Zambia Industrial Commercial Bank (ZICB) has

Companies

Segun Ogunsanya, the outgoing Chief Executive Officer – CEO of Airtel Africa, has been named winner of the prestigious Lifetime Achievement Award in the 14th African Business Leadership Awards (ABLA) 2024.

The awards are a flagship annual recognition event run by Africa Leadership Magazine (ALM), aimed at honoring exceptional corporate practice and outstanding achievers in Africa’s business landscape and private sector. The awards showcase Africa’s businesses and leaders, celebrating exemplary business leadership on the continent.

According to a statement made available to the Zambian Business Times – ZBT, by Airtel Zambia, Head Corporate Communication, Yuyo Nachali-Kambikambi, Ogunsanya will be presented with his Lifetime Achievement Award at a special ceremony during the 9th ALM Africa Summit, taking place from 17-18 July 2024 at the UK House of Lords. The theme of this year’s Summit is ‘Africa Unleashed: Navigating Disruptions, Enhancing Opportunities’, with policymakers, private sector leaders, civil society leaders, thought leaders, and stakeholders from across Africa and the rest of the world expected to attend.

Ogunsanya’s landmark contributions towards advancing Africa’s socio-economic growth and development include his 12-year career at Airtel Africa. He ran the Nigeria operations of the telecommunications and mobile money company for nine years before his appointment as CEO of the Group in 2021. With deep knowledge of the continent, coupled with extensive distribution experience, he led the company in maintaining double-digit revenue growth over many quarters and in delivering new, innovative products to its customers across Africa.

Segun has more than 35 years of business management experience in banking, consumer goods, and telecoms. Before joining Airtel Africa in 2012, he held leadership roles at Coca-Cola Bottling operations in Ghana, Nigeria, and Kenya (as MD and CEO). Segun has also been the Managing Director of Nigerian Bottling Company Ltd (CocaCola Hellenic owned) and Group head of retail banking operations at Ecobank Transnational Inc, covering 28 countries in Africa. He is an electronics engineer and a chartered accountant.

Segun Ogunsanya, CEO of Airtel Africa, said: “I am truly humbled by this recognition alongside such other distinguished Africans. It truly belongs to all those who have been on the journey with me at various times. My career has been focused on serving the needs of people across the continent, most recently through enhanced digital and financial inclusion. I remain determined to help make Africa a better place for its people, and hope my journey inspires the next generation of Africa’s business leaders.”

Ogunsanya will retire from Airtel Africa on 1 July 2024, and will become the Airtel Africa Charitable Foundation’s inaugural Chair, building on the work undertaken during his time as CEO, including the launch of the Company’s first sustainability strategy. Dr. Ken Giami, Chairman of the African Leadership Organisation and Publisher of the African Leadership Magazine, said: “Our award winners exemplify the spirit of innovation, resilience and excellence driving growth and development across the continent.”

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Segun Ogunsanya, the outgoing Chief Executive Officer

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