Following the announcement of the crop survey report which was issued by the Zambia Statistics Agency ZamStats, indicated that the country recorded a bumper harvest of 3.6 million metric tonnes of maize.The Food Reserve Agency Board Chairperson, Hon. Suresh M. Desai has announced the crop purchasing prices for the 2025 crop marketing Season.Speaking during the official media briefing announcement of the crop marketing arrangements and crop purchase prices for the 2025 crop marketing season , Desai told Zambian Business Times- ZBT that the Agency will be purchasing grade (A) White Maize from farmers at K6.80 per kilogram, which is K340 per 50 Kg bag.“ The agency shall buy non- genetically modified grade A white Maize from farmers at Six Kwacha and Eighty Ngwee ( K680) per kilogram, which translates into Three Hundred and Forty Kwacha ( K340) per 50 Kg bag”, said Desai.He added that the Agency will open up 1, 428 satellite depots across the country and targets to firstly buy 543,000 metric tons of Maize.“ An initial of 1, 428 satellite depots across the country will be opened up to provide farmers with convenient access points to deliver their crops and the agency targets to firstly 543,000 Metric tons of Maize”, said Desai.
Given Ian Ncube, Chief Executive Officer at RSM Zambia Chartered Accountants (“RSM Zambia”), a leading assurance, tax and consulting services provider, has been appointed as a Director of RSM International.
Effective 1 June, Ncube joins the Board of Directors of RSM International, the sixth largest professional services network in the world by revenue.
Ncube brings over 20 years of experience in professional services and has served as Senior Partner and Chief Executive of RSM Zambia for 13 years. Testament to his leadership and the Firm’s strong nationwide presence, RSM Zambia has doubled its revenues and grown its headcount by more than 35% since 2022.
As the Director of RSM International, Ncube will work alongside other Board Members and the global organization’s CEO, E.J. Nedder, to ensure the organization continues to deliver on its 2030 global strategy, focused on transformation, growth, and creating positive, lasting value for all stakeholders.
“I am deeply honored to step into this role on the RSM International Board as we build a compelling future together.” Remarked Given Ian Ncube, Chief Executive Officer at RSM Zambia, adding that his appointment underscores, “the strength of our talented teams and trusted advisors in Zambia and across Africa, a testament to our collaborative spirit.”
“I am energized to advance RSM’s global ambition, bringing fresh perspectives from dynamic markets to foster innovative, future-ready solutions. With a shared commitment to sustainable growth and inclusivity, I look forward to strengthening our integrated global network, empowering clients and communities to thrive together.”
Chairperson of the RSM International Board, Joe Adams, who commented on behalf of the RSM International Board of Directors, said it was a pleasure to welcome Given Ian Ncube as our newest Board Member. “Ian brings significant experience and leadership skills demonstrated through his trusted stewardship of RSM Zambia.”
“We look forward to Ian’s contributions to help us shape the future of RSM, underpinned by our organization’s 2030 global strategy.” Remarked Adams.
Celebrated Olympic Bronze Medallist Muzala Samukonga has accused the Zambia Athletics Association (ZAA) of deliberately leaving him out of the Relay team that recently competed at the 2025 World Athletics Relay in Guangzhou China. This comes after several sportsfanatics wondered why the Olympic Superstar was not part of the competition, especially after the country failed to clinch any major medal. In a stark revelation Muzala openly vented via a comment on Facebook under a post by the National Olympics Council of Zambia (NOCZ), which depicted an encouragement for the lads after their early exit. Muzala appeared to respond to fan who wanted to know why he was snubbed. “ZAA do not lie, just tell the truth,” He replied. The comment left many sceptics in awe, as they wondered whether the snubbing was due to Muzala’s advocacy towards the none payment of salaries after the 2024 Olympics. But in contrast the statement from ZAA, revealed that the Super star was left out due to a stern engagement to an athletics event scheduled for September 2025. The Zambian Business Times (ZBT) reached out to a close source to Muzala, who stated “Just take it as you saw it, what he said is exactly as it is, but someone reached out from the organization (ZAA).” Efforts to a get a counter comment from ZAA proved interesting, as the organization claimed not to be aware of the situation. This is not the first time that Muzala has criticized ZAA of being incompetent, last year, he was involved in a heated scuffle that also tagged the government over non payment of salaries. However, it is surprising that after a change of administration – the election of Major Bernard Bwalya as President – another episode of dissatisfaction surfaces. This also paints a gloomy picture, as many speculate that there is more to the snubbing than meets the eye but also raises the question of accountability on the part of those entrusted with responsibility.
According to the April 2025 ZamStats report the current maximum price of 1kg Dried Kapenta Siavonga country wide is standing at K389, way higher than that of April 2024 which was at K282.
According to the report, the hike has been attributed to the Monthly inflation rate for April 2025 which is pegged at 4.5% and the Yearly inflation at 38.5%. Furthermore, Siavonga District Fisheries and Livestock Marketing Development Officer Yate Phiri has disclosed that the current order price of Dried Siavonga are standing at K240 and flesh Siavonga is ranging between K55 to k60 per Kg.
She added that the K240 per Kg price of Siavonga Kapenta is the current price specifically for Siavonga District and price differs in various districts depending on the location and other transportation costs.
Phiri attributed the price raise due to fish catchers experiencing bad weather conditions which affects their operations and hinders the harvest. “The most challenging issues that fish catchers’ operators are complaining about are bad weather conditions usually due to windy conditions which affects their smooth operations,” said Phiri
While Zambia is poised for a maize surplus in the 2025/2026 agricultural marketing season, with the National Food Balance Sheet estimating a surplus of 501,621 metric tonnes, this positive outlook for maize, however, is tempered by a projected deficit in rice of 55,138 metric tonnes, despite anticipated increases in domestic rice production.
The National Food Balance Sheet, based on the latest Crop Forecasting Survey, indicates a total maize supply of 4,040,645 metric tonnes against national requirements of 3,539,024 metric tonnes, ensuring sufficient maize for both human consumption and industrial use.
Conversely, the country faces a notable shortfall in rice. While the 2024/2025 crop survey report by Zamstats projects an increase in rice production to approximately 39,400 metric tonnes, up from 24,500 metric tonnes last year, this rise is still insufficient to meet national demand.
Acting Minister of Agriculture, Silvia T. Masebo, confirmed the anticipated rice deficit of 55,138 metric tonnes. This carries significant implications for the country’s food security and economy, even as a substantial maize surplus is projected. Here’s a breakdown of what this means:
The most direct consequence of a deficit is the need to import rice to bridge the gap between domestic supply and national demand. This means: Zambia will have to spend valuable foreign currency to purchase rice from international markets, potentially impacting the country’s balance of payments and weakening the local currency (Kwacha). Minister Masebo however underscored the critical importance of timely and accurate agricultural data for informed policy decisions. “Please continue to adhere to survey timelines to enable timely decision-making,” she urged.
The Ministry of Agriculture anticipates further clarity on the food security situation with the release of the Post-Harvest Survey results, scheduled for October 2025. She said these results will provide updated crop forecasts with actual figures, enabling a more precise assessment of the country’s food and nutrition security status and broader sector developments.
The Bank of Zambia (BOZ) has maintained the benchmark lending rate also known as Monetary Policy Rate (MPR) at 14.5% in the second quarter of 2025.
Speaking during the MPR media briefing at the BOZ Headquarters, Governor Denny Kalyalya revealed that the decision was necessited by the decline in inflation which was recorded at 16.5% in April from 16.8% in February. “Inflation slowed down to 16.5% on March 2025 from 16.7% in December 2024, having peaked at 16.8% in February forcing the committee to maintain the MPR in the second quarter of 2025”, said Kalyalya.
However, Kalyalya stated that inflation in the next eight quarters is expected to decline faster towards the 6-8 % target band as projected in February. “Inflation is anticipated to average 13.8% in 2025 compared to 14.6% and eventually decline to 8.8% and further to 7.5% in the first quarter of 2027, which is within the target band,” he added.
Kalyalya echoed that the projection is based on the expected decline in market prices of maize grains and crude oil which will significantly contribute to the downside risks and drive inflation even lower than the current projection. “The bumper harvest forecast of 3.6 million metric tonnes for the 2024- 2025 farming season will drive prices of maize grain and lower its products and the anticipated increase in the supply of crude oil and weak global demand will point to a reduction in prices”, said Kalyalya.
Main street is an important road that connects Salama Park and other nearby places to Ibex Hill. Residents want the road to be fixed, residents also say the road is damaging their vehicles.
When it comes to the celebration of culture and preservation of heritage – the Livingstone International Cultural and Arts Festival (LICAF) has beaconed close to three decades as one of Africa’s fastest growing festivals, setting a substantial precedence in the country since its inception in 1995.
This year’s event was themed “Tourism for Tomorrow: Promoting sustainable Cultural development” highlighting a multifaceted approach towards the promotion of culture. The event kicked off with a carnival that comprised of cultural teams representing the 10 provinces, a diverse cultural facet that glues Zambia’s heritage. Several Livingstone residents thronged to the streets to catch a glimpse of the colorful parade.
The event was held at Maramba Cultural Village in Livingstone, a wide range of artifacts were on display and in attendance was Southern Province Minister Credo Njuwa who was the guest of Honor, Ministry of Tourism Permanent Secretary Evans Muhanga, Botswana High Commissioner to Zambia Alpheus Matlhaku and Livingstone District Commissioner Eunice Nawa. The Zambian Business Times (ZBT) attended the event, and making a key note remark, Ministry of Tourism Permanent Secretary Evans Muhanga underscored the Ministry’s efforts in helping local artisans to diversify their creativity and formulate art that is inclusive and presents a wider appeal, through LICAF. “On behalf of the Ministry of Tourism, I would like to congratulate those that have made this event possible, showcasing the incredible cultural richness that defines Livingstone and Zambia as a whole representing all our 73 ethnic tribes, this year in April we had the privilege of hosting the 2nd UN Africa and America’s Tourism Summit, which is a key milestone for tourism because this highlighted our vision to develop a sustainable and inclusive sector, and we have made a commitment to continue upholding tourism through events like LICAF but also to create ties with other countries.”
He further added that this year’s theme speaks directly to the Ministry’s mandate to develop the sector and also speaks to the tourism master plan which reflects the aspect of building a robust tourism industry. “This is something that creates jobs and empowers communities and contributes to the economic growth, and our vision is to grow the LICAF to an international arts festival, we want to ensure that the all Livingstone and surrounding towns participate.”
Muhanga revealed that the Ministry of Tourism is undertaking major works to rehabilitate the Maramba Cultural Village which is the hub of cultural tourism in Livingstone and surrounding areas. Meanwhile Guest of Honor, Southern Province Minister Credo Njuwa underscored the importance of the event in creating systematic linkages between arts, culture and society, at the same time emphasizing that the platform is viable for economic emancipation for both the curators and other cultural artistic preservers. “This is one of the cultural tourism products that we are proud of as a ministry, cultural tourism ensures the safety of our heritage and ensure its preservation, for future generations,” he echoed.
In light of the drought and other unforeseeable challenges that have hampered the growth of the tourism sector, Juwa emphasized the importance of sustainable development practises, in safeguarding the longevity of the country’s tourism and the cultural treasure overall. “The concept of sustainability in tourism, encompasses three factors, environmental stewardship, social responsibility, and economic viability exhibitions and cultural exhibitions must embrace these principles, if they are to truly serve as bridges, between our past and our future, cultural tourism can advance and enhance.”
Remarking that events such as the LICAF presents an opportunity for art to be exhibited to a wide audience instead of restricting it to museums. “Our Ministry’s mandate is to preserve, safeguard and promote our culture, and this takes a new meaning under the lens of sustainability, digital documentation, community led research and participatory inventorying, now serve not just to record cultural practices but to present it in a viable manner.” “While cultures maybe distinct the challenges of sustainable development are the same and we are building a collective wisdom, that will greatly benefit the present society and posterity, showcasing a diverse aspect of our society rather than confining them to museums, this calls for innovative approaches, by building a world class LICAF we create resilience, preserve, safeguard and promote community laid research to ensure viability in the changing times,” he concluded.
Events such as LICAF are a major building block to a tolerant society in terms of tribes and cultural beliefs, they offer a reliable platform for the nation to unite and exchange ideas on developing the tourism sector to a large scale. Therefore, the Ministry of Tourism and its cooperating partners must be commended for facilitating the success of the event.
According to the Q1 of 2025 report issued by Securities and Exchange Commission – SEC, availed to the Zambian Business Times – ZBT, Madison Financial Services Plc (MAFS) has recorded a drop in share prices by 5.6% (about 6%).
MAFS share prices at the beginning of the quarter was at K1.8 per share and closed at K1.7 per share by the end of Q1, indicating a drop in the price of shares at K0.1, and eventually striking a drop in price share at 5.6%.
With Madison Financial Services Plc last month April 2025 failing to submit and file their financial statements with LuSE on time, could that be one of the symptoms of under performance?
ZBT efforts to get a comment from Madison Financial services had not been successful by press time.
