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Mitete District, a rural area in Zambia with a population of about 40 thousand people, has been struggling with internet accessibility for years which has undoubtedly affected the district’s economic development.

 According to Misheck Mutelo, the Member of Parliament for Mitete Constituency, in Western Province of Zambia, the only part of the district with internet access is the small central part. This means that a vast majority of the population has been deprived of this fundamental service, hindering the district’s economic development.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Mutelo that the district will finally get internet access by the end of the year. He revealed that the Zambia Information and Communications Technology Authority (ZICTA) will be putting up two towers to cover the interior part of the district.

He explained that the installation of the towers has been delayed due to challenges with the pontoon, which has hindered the progression of fixing the towers. However, Mutelo assured that the problem has been rectified, and the towers will be installed and completed by the end of the year, marking a significant milestone for the people of Mitete District.

The importance of internet access for economic development cannot be overstated. The internet is a crucial tool for businesses, entrepreneurs, and individuals to access information, communicate with others, and access a global market. The lack of internet access in Mitete District has undoubtedly hindered the district’s economic growth, but the installation of these towers is expected to open new doors of opportunities for the people of Mitete.

The installation of two towers will provide internet access to a significant portion of the district’s population, which will undoubtedly have a positive impact on the district’s economic development.

“I can confirm that the district has no internet access except for a small part of Mitete Central where there is some semblance of internet connectivity, but we have engaged ZICTA and this is when they are putting up two towers to cover the interior part of the District,” he said.

For comments, contribution and whistleblowing email: editor@zambianbusinesstimes.com

picture below is Mitete Town Council.

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Mitete District, a rural area in Zambia

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The long-awaited $5 billion Batoka Gorge Hydroelectric Scheme (BGHES) in Zambia and Zimbabwe is facing delays in construction, which is having a significant impact on the energy needs of both countries.

The BGHES is expected to add 2,400 MW of power to the shared grid, helping to reduce the power supply deficit in the two countries.
However, delays in the construction mean that the potential of the Zambezi River as a clean energy source is not being maximized, while the energy gap continues to negatively impact the economies of both countries.

According to the Zambezi River Authority – ZRA, the BGHES the disengagement with the initially appointed project developer has caused delays as the new developer is yet to be appointed.

In an inquiry by the Zambian Business Times – ZBT, Zambezi River Authority, Chief Executive, Eng. Munyaradzi C. Munodawafa, the Authority plans to retender the project in 2024 and expects to receive bids from potential developers by April 2025, with the selection of bidders expected to be undertaken by September 2025. The estimated cost of the project is $5 billion, subject to change depending on inflation and other economic factors.

“It is anticipated that the construction of the BGHES will add 2 400Mw of power to be shared equally between Zambia and Zimbabwe. This increase in power supply would significantly reduce the power supply deficit in both countries. The delay in the construction of the BGHES means that the two countries are not maximizing the potential of the Zambezi River as a clean energy source, whilst the prevailing energy gap continues to negatively impact the performance of the two economies.”

Asked about What measures are being taken to address the challenges that have led to the delay in the construction of the power station. Munodawafa said the Authority will embark on an international competitive tendering process to procure a new developer.

“To ensure that transparency and value for money principles are upheld from the tendering stage through to the final development of the hydropower scheme, steps have been taken for the Authority to enter into partnerships with key renewable energy institutions and international financing institutions (IFIs) whose experience will contribute in respect of driving the project towards bankability and financial close. Measures will be put in place to ensure the project works are done within the timeframe that will be decided upon.”

He said the construction will start soon after reaching financial close spearheaded by a developer who is yet to be appointed. The Authority intends to retender the project within the course of 2024 and expects to receive bids from potential developers by April 2025 while the selection of bidders is expected to be undertaken by September 2025.

Munodawafa said the estimated cost of the project is 5 Billion United States Dollars. “However, this may be subject to change depending on inflation and other economic factors that may affect the cost of goods and services required for the construction of the Batoka Gorge Hydro Power station.”

The BGHES has the potential to provide significant benefits to both countries, and its completion is crucial to their economic development and progress as the two countries face the negative effects of climate change.

Batoka Gorge Hydro Electricity Scheme (BHES) is a 2.4GW hydroelectric project located across the boundary between Zambia and Zimbabwe, on the Zambezi River, approximately 54km downstream of the Victoria Waterfall.

The project is being undertaken by the Zambezi River Authority (ZRA), an entity equally owned by the Zambia and Zimbabwe governments.

A memorandum of understanding (MoU) was signed between Zambia and Zimbabwe to develop the BHES project, in February 2012.

Construction on the £4bn ($5.2bn) project was expected to begin in 2020 and targeted for completion in 2026.

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The long-awaited $5 billion Batoka Gorge Hydroelectric

Markets

Despite internet connectivity viewed as a vast potential for inclusive growth and development and aside its role in boosting productivity and economic growth as it help connect remote populations to markets, promote citizens’ access to social services, it has emerged that some parts of the country do not have access to the internet.

Having access to the internet means access to greater information, communication and social networks, and resources that improve education, health, and career prospects. These work to improve individual living standards and contribute positively towards the overall economy through increases in talent, productivity, and GDP.

Speaking in an exclusive interview with the Zambian Business Times (ZBT) Luapula Province Minister Njanvwa Simutowe revealed that the District has been in total black out, when it comes to internet services and this has affected the people’s accessibility of Government and private services.

Lunga District came to light in 2012 when it was declared as one, generally the place comprises of archipelago islands which are part of the Bangweulu wetlands, with a population of about 24 thousand inhabitants.

“Lunga District is struggling with internet, and as a matter of addition I was running through a report by the Ministry of Community Development and I discovered that the people in the District had a challenge in accessing Social Cash Transfer due to network challenges, because the district is on island and in mitigating the issue two weeks ago we went on the ground with the Ministry of Science and Technology and they intervened through plans to elect a network tower,” he said.

However Simutowe said the efforts of improving the livelihoods of the people   the authority have been derailed because the waters have subsided before the tower is elected.

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Despite internet connectivity viewed as a vast

Companies

Airtel Networks Zambia Plc has pumped in K300,000 for a record 5th year running to become the Platinum partner for the Zambia Information Communication Technology Authority (ZICTA) 2024 ICT Innovation Program Cohort.

Zambia Information Communication Technology Authority (ZICTA) Director General, Engineer. Choolwe Nalubamba received the cheque on behalf of the Authority saying that the Innovation program which started in 2016 has had over 400 program beneficiaries with at least 30 of the innovations being commercialized.

“Today is another great day for us who have seen this Innovation program grow from strength to strength since 2016 when we first introduced it as an Authority. Receiving this K300,000 from Airtel Networks Zambia Plc today, is something we are excited about and more so because this is the 5th year that Airtel has been the platinum partner,” Nalubamba said.

Adding: “Just recently, we witnessed one of our Alumni innovators host a successful market launch of his product and that in itself underscores the impact that is being created by ZICTA and our partners on the program.”

Airtel Managing Director, Hussam Baday said his Company was pleased to join hands with ZICTA and other organisations in working towards transforming the rich, innovative ideas coming from the program into viable ventures that in turn unlock inclusive and sustainable growth for Zambia.

“We are proud of our continued association with the ICT Innovation Programme, for the 5th year running. This is mainly because of its transformative impact not just to the innovators, but the country. We continue to be inspired by the many success stories that have been coming out of this programme – the start-ups that are getting commercialised, the jobs that are being created, and the huge impact that the innovations are having on the lives of individuals and businesses across the country.”

According to Airtel Zambia, Head – Corporate Communications, Yuyo Nachali-Kambikambi, The Call for submission of Innovations opened in April and will close on May 15th 2024.

The program is expected to run until November with several activities lined up in between including business and technical development workshops as well as group coaching and pitching sessions for the finalists.

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Airtel Networks Zambia Plc has pumped in

Tech

The Oil Marketing Companies Association of Zambia –OMCAZ – has demanded for immediate resignation of Energy Minister Peter Kapala who they claim is incompetent and has terribly failed to deliver to the poor Zambian people.

The call comes amid mounting pressure on the government over the continued energy crisis in both fuel and electricity in the country.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, OMCAZ President Dr Dr. Kafula Mubanga said the Minister of Energy and his team are not doing an adequate job as there is no way the Ministry would allow its wing the Energy Regulatory Board – ERB to escalate prices that the Government is not aware of.

The move follows mounting pressure on the government over nonstop energy crisis in both fuel and electricity in the country. Fuel prices continue to rise while electricity deficit deepens with more increments expected.

This twin energy crisis has already claimed two victims with the removal of the ERB board chairperson Raynolds Bowa and placement on a forced leave of the regulator’s Director General Yohane Mukabe after reportedly approving double upward adjustments of fuel pump prices and the about 10% increase in electricity tariffs without consultations with top government bosses.

Minister of Energy has been heavily criticized by industry players, experts, and concerned citizens alike, who feel that him and his team are being out of touch with the realities on the ground and insisting on policies that continue to hurt both businesses and households.

“We have said several times that Kapala is incompetent and we even ran a campaign for him to resign but we never know whosoever is protecting him but it is not in the interest of the Country.” Dr. Mubanga remarked.

According to Dr. Mubanga, the board is appointed by the Minister and reports directly to him, so Kapala must take full responsibility for the crisis.

 “He must take full responsibility, and remember that the board is appointed by the Minister and they give him reports, the ratification of ERB board is also done by the Minister so these report directly to the Minister. So basically what Mweetwa is saying is that the Minister of Energy was irresponsible and how many times is the Minister of Energy going to be caught in an irresponsible position without action from the government? we are tired of that.”

 “You cannot keep blaming and chasing your board chairman, and MD how do you chase the board chairman and keep the board? Kapala and his entire team should be moved because even just by the AG report it shows that there is stealing at the Ministry of Energy so it is all evident and documented.”

“What it technically means is that money has been stolen from the Zambians if the government was not consulted and Zambians should demand a refund on the prices from the suppliers of this particular product because there were no consultations. it is a crime for the ex-board chairman to have adjusted the prices without consultations.” He remarked.  

Dr. Mubanga said, “the biggest problem that we have in Zambia is that we don’t want to take full responsibility and it is clear that we have been stolen from, how then does the government ensure that this money is refunded and ensure that this does not reoccur?”

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The Oil Marketing Companies Association of Zambia

Companies

The Oil Marketing Companies Association of Zambia – OMCAZ, has challenged the government to immediately reverse the fuel pump prices after the revelation that the Energy Regulatory Board – ERB did not consult the government before announcing approved hiked prices a situation the government claimed did not sit well with them.

This follows Chief Government Spokesperson Cornelius Mweetwa’s revelation during a media briefing that the Energy Regulations Board -ERB- did not consult the government before announcing approved the prices.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, OMCAZ President Dr. Kafula Mubanga said, “What it technically means is that money has been stolen from the Zambians if the government was not consulted and Zambians should demand a refund on the prices from the suppliers of this particular product because there were no consultations.”

Dr Mubanga noted that it is a crime for the ex-board chairman to have adjusted the prices without consultations.

“The biggest problem that we have in Zambia is that we don’t want to take full responsibility and it’s clear that we have been stolen from, how then does the government ensure that this money is refunded?

“According to the Minister’s position, those that have put these fuel prices, are stealing from the Zambians that’s the clear position and that should have raised eyebrows to ACC and other investigative wings to investigate who has been eating that money and why getting it from the Zambian people who are already starving.”

Dr Mubanga said it is enough that the Information Minister should state how he assumes that the Zambians would get back their money as they want it back. “There is an admission of guilt to a certain extent and we can’t just let that pass because we have to  be responsible enough that if those people stole from the Zambians let the government go to the OMCs and direct them to reverse the prices but also to the price extent that the people of Zambia have lost.”

“So the review should be two times downwards because we know that they stole the money which is evident even in the Auditor General’s report where about K51 billion kwacha was siphoned from the overpricing of fuel prices.

Dr Mubanga remarked that it is not sufficient for the Government to just come and tell people that it was not aware of the theft adding that adequate actions must be taken and ensure that the money is paid back to the Zambians.

“Yes government was not aware and that’s the identification of crime but how then does it ensure that the money trickles down to the rightful people?

Government should now show political will and instruct all OMCs to reduce the prices backward.”  remarked Dr. Mubanga.

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The Oil Marketing Companies Association of Zambia

Tech

Minister of Youth, Sports and Arts, Elvis Nkandu has expressed confidence in the growth of the creative industry and its ability to contribute to the country’s Gross Domestic Product (GDP) after touring MultiChoice Talent Factory (MTF) Academy and Mpali Production Set in Lusaka.

Mr Nkandu said the creative industry currently contributes about 0.04 percent to the GDP and if more investment was done, there was potential that the sector would contribute a higher percentage to the overall socioeconomic wellbeing of the country.

“We appreciate the opportunities created by MTF and Mpali because they are helping a lot of young people with skills, opportunity and employment,” said Nkandu.

The minister said this when he toured the MTF Academy and Mpali production site in Lusaka, accompanied by the Permanent Secretary in the Ministry, Chama Fumba.

Speaking earlier, MTF Academy Director, Christopher Puta said MTF had equipped students with the right skills for industry. “We are happy with our students and graduates, some of them are working with NGOs, some have set up studios and are working on their own because of the skills they acquired, they basically leave this place industry ready,” he stated.

MultiChoice Zambia, Head of Corporate Affairs, Chilufya Mwelwa said MTF had made an impact over the years. “Zambia has managed to produce best-performing students in the past intakes, who were awarded opportunities to travel to Bollywood, Nollywood and Hollywood to learn more about filming and came back to apply the skills in Zambia.”

Speaking at the Mpali production site, Mpali Creator and Director Frank Sibbuku conveyed his appreciation to the government and MultiChoice for the good partnership which his team has enjoyed over the last 7 years the series has been on TV.

“We thank you for your support. There is a value chain to what we do, our production has created indirect and direct employment for local people. Most of the materials we use in our production are from Zambian businesses, and we have employed many people on this production,” said Sibbuku.

He further thanked the government for the support and visit, as it had motivated the team to continue working hard and creating the magic on TV.

Mpali which is currently in its 7th season airs Monday to Friday on Zambezi Magic Channel 162 on DStv and Channel 3 on GOtv.

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Minister of Youth, Sports and Arts, Elvis

Companies

The Zambia National Commercial Bank plc – ZANACO – which is majority owned by a Netherlands-based, international financial services provider, Rabo Financial Institutions Development B.V. (“Rabobank”) has posted a 34% (K1.3 billion) increase in total operating income when wholly locally owned bank Investrust bank has been declared insolvency to a tune of about K850 million.

The increase in total operating income is driven mainly by an increase in interest income by 22% (K850 million) supported by the growth of the loan book, 128% (K770 million) growth in treasury trading income.

According to the financials seen by the Zambian Business Times – ZBT, ZANACO closed the
year at K1.7 billion representing a 49% (K571 million) increase in profits.

In a statement signed by the Company Secretary Kaluba G Kaulun’ombe, the growth in profitability was driven by an increase in total operating income and astute management of costs and impairments.

“Efficient credit monitoring practices and focus on the origination of quality assets resulted in a notable decrease in impairments in the year by 88% from K186 million recorded in the prior year to K22 million as at the close of the 2023 financial year. Total operating expenses increased by 27% (K538 million) driven by the implementation of the Group’s strategic initiatives aimed at positioning the Bank to be future-fit.”

“The Group costs were also impacted by the depreciation of the local currency and inflationary increase. The notable growth in profitability was supported by a resilient balance sheet with a total asset base of K45 billion, with a year-on-year growth of 25%.”

Kaulun’ombe said the total assets mainly comprised of cash and balances with Bank of Zambia – K8.9 billion (year-on-year growth of 87%), Trading assets – K2.3 billion (year-on-year growth of 27%), loans and advances – K16.2 billion (year on year growth of 34%).

He said the growth in assets was mainly supported by the growth in customer deposits which grew by 14% year on year (K4.2 billion) closing the year with a deposit base of K33.9 billion.

“The growth in deposits is in line with the group’s strategy of growing deposits to increase funds available for investments. Total liabilities recorded a growth of 23% (K7.5 billion) which is mainly attributable to the growth in customer deposits 14% (K4.2 billion) and deposits from other Banks which grew by K1.9 billion.” He said.

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The Zambia National Commercial Bank plc -

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following revelations by the Auditor Generals report for the financial year ending December that revealed the misuse of public funds amounting over K300 million at the Ministry of Education, The Ministry of Education has revealed that 94% of accountants operating in public schools have no accountancy qualifications.

Recently, the Auditor Generals Report for the financial year ending December 2022 revealed the misuse of public funds amounting to over K300 million at the Ministry of Education.

The AG report for the financial year under review also reviewed that 3,067 schools in Southern , North – Western , Central, Muchinga, Northen and Luapula Provinces operated without accounting officers for the period under review and some dating back to 2018.

In a press query response to the Zambian Business Times – ZBT, Ministry of Education Head Communications Kunda Mando said that the current status with regards to the number of qualified accountants in Public Schools is at 6%.

“The current status with regards to the number of qualified accountants in Public Schools is 6% which is very insignificant compared to the number of schools in the Ministry,” she said.

This means that of the 6% qualified accountants currently operating in public schools, 94% are unqualified.

Meanwhile, according to the accountants Act No. 13 of 2008, section 18(1), “A person shall not, unless the person is registered as a chattered accountant under this act (a) practice as, be employed as , offer services as, or hold out to be, a chattered accountant.

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following revelations by the Auditor Generals report

Markets

Zambia is on the brink of an economic crisis as the recent approval of increased electricity tariffs, and fuel costs are set to take a toll on the already struggling economy. Economist Trevor Hambayi predicts that the adjustments in the energy sector will lead to a higher cost of living, which will affect ordinary Zambians’ ability to purchase goods and services.

The Energy Regulation Board (ERB) approved ZESCO’s increment of tariffs by 10% amid crippling power cuts after increasing the price of petrol by K4, diesel by 0.8 Ngwee, kerosene by K7. 95 and Jet A-1 by K3. 30 for the month of May, 2024. Hambayi warns that inflation is likely to go up, which will reduce the value of the country’s currency.

Hambayi stresses that the country must focus on fostering GDP growth, which will lead to increased productivity and enable the ordinary Zambians to earn additional income. He calls for the implementation of an economic recovery plan that will directly alter the dire living conditions of the people.

He said one of the factors hindering the progression of inflation is the price of crude oil on the international market, which might increase further to a hundred dollars per barrel.

He believes that the country needs to take drastic measures, such as putting exchange controls and restrictions on outbound money.

Zambia must sign long-term agreements on crude oil prices to have it for a long time without changing the price. If the country doesn’t have long-term stock, Hambayi suggests forward contracts to lock the price.

He has urged the Zambian government must take urgent and necessary measures to alleviate the burden of increased electricity tariffs and fuel costs on ordinary Zambians.

He said the country needs to foster GDP growth, increase productivity, and sign long-term agreements on crude oil prices to prevent further inflation and reduce the cost of living. “Failure to do so will result in unbearable living conditions for most Zambians.”

“We need to take drastic measures that are painful for the country, we must put exchange control, restrictions as to what money can go out of the country and we must sign long-term agreements as to the price of crude oil so that we can have it for a long time without changing the price, if we don’t have long term stock we need forward contracts to lock the price,” he said

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Zambia is on the brink of an