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Economist Trevor Hambayi has charged that the debt restructuring process will not provide direct benefits to the current high cost of living being experienced countrywide.

The cost of living for a family of 5 currently stands at over K10, 600 as of March, 2024 as measured by the Jesuit Center for theological Reflection (JCTR).

And with the government striking a deal with external bondholders of about 75% and the government’s revelations that it’s in talks with private creditors to restructure $3.3 billion of Zambia’s commercial debt, questions have been raised on whether the debt restructuring process will have direct benefits on the high cost of living.

Speaking in an exclusive interview with the Zambian Business Times -ZBT, Economist Trevor Hambayi said that unlike providing direct benefits on the cost of living, the debt restructuring process will provide the country an opportunity to grow economically.

He noted that It’s the growth of the economy that will give the country direct benefits on the cost of living.

“Debt restructuring itself is not exactly supposed to provide direct benefits on the cost of living but it has to provide us an opportunity to be able to start to grow our economy. It’s the economy that will grow that will give us direct benefits on the cost of living. At the moment we have not yet completed the debt restructuring process,” he said.

“There is still a component of around $3 billion that needs to be restructured from the private creditors before that process is complete. Only when it’s complete can we then say what basic leverage can we use this to be able to speak to driving our economy,” said Hambayi.

It can therefore be noted that Zambia is still in talks to restructure $3.3 billion of commercial debt, after reaching a 75% deal with overseas external bondholders of its sovereign bonds critical for economic growth.

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Economist Trevor Hambayi has charged that the

Markets

The Bank of Zambia (BOZ) has confirmed that there is only one Bank in Zambia that is wholly owned by local Zambians following the takeover of Investrust Bank due to insolvency.

Responding to the Zambian Business Times – ZBT query on whether there is any bank remaining that is locally owned after the repossession of the Investrust Bank which was locally owned, BOZ Governor Dr. Denny Kalyalya explained that the Country only has one locally owned Bank, the Zambia Industrial Commercial Bank – ZICB as others are a mixture of institutions that are partly owned by local Zambians and foreign-owned.

“Yes, we have Zambia Industrial Commercial Banks which is totally locally owned at the moment. Now with that what we have is a mixture of institutions that are partly locally owned and others that are not. We take Zanaco for instance with such a significant local shareholding, we also take Indo Zambia Bank which also has significant local sharing.” Said Dr. Kalyalya during the question and answer time after giving an update on the Investrust Bank Plc Repossessed.

“Remember that even the ZICB also arose out of a situation like this but that was rescued by depositors because we went to them to say it either we go for liquidation in which case you lose almost completely or you can convert your deposits into equity and indeed they responded to that and that’s how come you have NAPSA which almost all of you who are employed are subscribing to meaning you are part owners of Zambia Industrial Commercial Bank in which the other shareholder is Industrial Development Corporation which is another local entity and the third shareholding is the Workers Compassion Fund Board, making the bank a wholly locally owned.”

Dr. Kalyalya noted that “it hurts us obviously as Zambians not to see any of our people being in this space but that is what we have. We have to deal with what we have until people step forward. The central Bank is a regulator which does not run these institutions so we only follow the rules which are applicable to everyone.”

He said it is however important to bear in mind that when BoZ as a regulator is applying these Prudential rules they apply across the board which means that does not exempt the indigenous from the same. “The moment you step in the space of saying you are a Bank there are rules and procedures that apply that’s why in the vetting process you ask people if they are familiar with the provision of the law and with the business of Banking, so we look at the business model.”

Meanwhile, Dr. Kalyalya said Investrust Bank was possessed because it was insolvent  adding that the institution’s assets were not enough to meet its liabilities. “Insolvency simply means that the capital position of Investrust was below zero (negative) and its liabilities exceeded its assets.”

Kalyalya said at the point of taking possession, it was estimated that the amount of capital required for the bank to be compliant was in the order of K850 million which is a preliminary position that will only be confirmed once the preparation of the Statement of Affairs concludes in six weeks and the Bank will provide clarity on what this means.

He added that in addition, the bank had pre-existing liquidity challenges that became serious in recent months, which compelled it to resort to expensive short-term funding sources, which clearly indicated that the operations of the bank were unsustainable thereby prompting the Bank of Zambia to step in and protect the depositors.

“May I now take this opportunity to assure the depositors that their deposits are safe as the Government has been asked to provide support of K1 billion to bridge the gap between the assets and liabilities of Investrust (In Possession). We are currently working hard to have the statement of affairs prepared within six weeks from now and to have options prepared for how we will resolve Investrust (In Possession). During this period, some payments will be made to depositors and we expect all depositors to have full access to their funds, on the basis of the statement of affairs as of April 2, 2024, once the Bank of Zambia Board has decided on the resolution option,” said Dr. Kalyalya.

Meanwhile, Bank of Zambia Deputy Governor – Operations, Dr. Francis Chipimo noted that the first payment to depositors at the Investrust Bank will be made on April 26, 2024 adding that the first payment will represent 90% of all deposits from about 57,000 deposit accounts.

“As you all know, the Bank of Zambia took possession of Investrust on April 2, 2024, and it is now designated as Investrust (In Possession). This involved us sending staff to each of the 20 branches (including the head office), located in six provinces. Over a period of five to six days, Staff verified monies held by the branches and secured important documents and assets. Investrust Bank (In Possession) staff at the branches were addressed by Bank of Zambia staff as we took possession and they have been requested to remain at home, whilst the possession proceeds. Where needed selected Investrust staff are assisting the Bank of Zambia officials in their activities and further guidance will be provided to all staff as the possession proceeds.”

He said the Bank of Zambia will facilitate the first payment to all depositors up to a maximum of K500,000 (Kwacha Five Hundred Thousand). This payment will cover over 90.0 percent of the total deposit accounts. For clarity, this means that those who have deposits at or below K500,000 will get payments that fully cover their deposits during this first payment.

Dr. Chipimo however added that customers with outstanding loans will still need to remain current on their loans and will be advised where to make their loan repayments. “We hereby request all borrowers to continue servicing their obligations to Investrust Bank Plc (In Possession) once the information is shared.”

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The Bank of Zambia (BOZ) has confirmed

Tech

Madison Life Insurance Company Zambia Limited(MLife) is a specialist Life insurance company and Vitality Health International a globally recognized, science-based wellness program that provides the tools and support to help people know their health, have announced the launch of new health insurance offerings in Zambia, aimed at enhancing the quality of life of Zambian citizens.

As part of the partnership, Vitality Health International will provide a unique insurance product that focuses on well-being and aims to positively impact people’s health outcomes while improving and protecting their lives. The product includes exciting enhancements customized for Employees in Zambia to provide their employees, such as the Vitality Malaria Benefit and funeral cover benefits.

MLife is a highly trusted brand that pioneered the introduction of health insurance in Zambia, while Vitality Health International is an innovative healthcare insurer owned by multi-award-winning South African insurer Discovery, which pioneered the Vitality Shared-value Insurance model in South Africa, changing the insurance landscape with a health insurance model that rewards people for living healthier lives.  

Speaking during the Launch of the new product, Managing Director of Madison Financial Services, Agnes Chakonta, said for more than 30 years, Madison Life Insurance has had an expansive presence in Zambia. “As one of Zambia’s leading insurers, we take pride in our innovative services and dedication to our clients. We believe that working in partnership with Vitality Health International, we will enhance the quality of life for our clients and their loved ones.”

Chikonta said the partnership aligns with MLife’s promise to the people of Zambia “Protecting you all the way.” The specialist insurance company’s products, with wellness at their core, put customers first and protect them physically, mentally, financially, and emotionally.

“The Vitality Health International health insurance offering is unique as it combines data analytics with rewards and incentives that directly encourage people to make healthier choices. Employers are rewarded with a cashback of up to 10% for encouraging their employees to get healthy, while employees can earn exciting weekly rewards with Vitality Health International’s range of rewards partners, including MTN, where vouchers can be redeemed for achieving their goals, or employees can choose to donate towards a life-changing vaccine. The shared-value approach enables employees, employers, and Vitality Health International to share in the value and benefits of healthy behavior by lowering healthcare costs for employers and employees, while decreasing the claims risks for Vitality Health International.”

Vitality Health International Africa Chief Executive Officer, Emma Knox highlighted that Vitality Health International model is highly relevant for the African market, considering three key consumer trends that are impacting the healthcare landscape.

She explained that Firstly, healthcare in Africa is ready for disruption, and the industry is ready for innovation. Secondly, Africa is going through a disease profile shift, with lifestyle diseases such as obesity, diabetes, and cardiovascular disease emerging as the main cause of death in sub-Saharan Africa. “Lastly, Africa’s young population is adopting digital technology and connection at a rapid rate, making the app-based Vitality program ideal for the market.”

She said MLife and Vitality Health International’s partnership is a significant step towards achieving the goal of positively impacting people’s health outcomes while improving and protecting their lives. “By partnering with Goodbye Malaria, the social benefit organization, Vitality Health International aims to accelerate the fight against malaria, a disease that is still taking an unrelenting toll on human health in Africa. The partnership will have a strategic focus on the fight against malaria, with the aim of potentially eradicating this deadly, yet preventable, disease in years to come.”

“Added to this there is an estimated 100 million people in Africa suffering from clinical depression. Employers are looking for more holistic screening and well-being solutions,” says Knox.

The Vitality programme also enables Vitality Health International to provide an on-site wellness experience for employers. Vitality Health Checks, conducted by experienced healthcare wellness specialists, are an essential aspect of the Vitality programme because employees get to understand their current health status and lifestyle risks, which is the first step towards changing behaviour and then starting to get rewarded for healthier choices.

Knox says: “As a data-driven organization, Discovery Health tracks trends emerging from 3.7 million medical scheme members of 19 administered medical schemes in South Africa. This data shows an increase in screening rates with clients who have signed up for Vitality. A number of studies have also found that the overall impact of Vitality on mortality rates is significant. Very engaged members who are on Gold and Diamond status with Vitality are estimated to have reduced mortality risk as a result of healthier lifestyles, increasing their life expectancy to 87 compared to 67 for the insured population in South Africa.”

After each on-site Vitality wellness day, comprehensive reports with metrics and unique insights are shared with employers to help them improve health outcomes for their employees. Knox adds: “The Vitality wellness days that we have conducted in other African markets have been extremely impactful in helping employees understand their health and these events will continue to evolve and improve over time.”

Tailored to the unique needs of each market it operates in, Vitality Health International offers a comprehensive range of benefit plans including in-country, Africa Roaming and Worldwide (excluding USA) coverage, structured according to each employer’s area coverage needs and budgets. While the health insurance offering caters for employers looking for in-country benefit plans to cover staff who stay permanently in Zambia and don’t travel for business, it is also particularly attractive to new -generation expatriates (Zambians returning home after studying abroad) and employees who travel and want to be covered both inside and outside the borders of Zambia.

Vitality Health International offers five health insurance options, with comprehensive cover across all benefits. Employers have the option for their employees to access the Vitality program, available on all benefit options.

Vitality Health International has pioneered the first-to-market Vitality Malaria Benefit, available across all Vitality Health International plans. It includes a rapid diagnostic test for employers to make available for their employees. Over-the-counter medication will also be made available where a positive result is picked up. The Vitality Malaria Benefit dovetails perfectly with Vitality Health International’s partnership with Goodbye Malaria, with the aim of achieving zero malaria in our lifetime.

Vitality Health International also offers a life-changing supportive benefit, Vitality Standby-U cover. This cover offers a holistic return to wellness following the loss of a loved one. The benefit provides financial support in the form of a lump-sum payment and a data and voice bundle in partnership with MTN. Emotional and physical health support is offered through.

Commenting on emerging healthcare trends during the roadshow, Knox said: “We are bringing a completely new type of health insurance to the rest of Africa. One that focuses on mental and physical wellness. Our offering has been specifically developed for the African market. It is an innovative, digitally-enabled solution that promotes preventive screening and offers incentivized healthy behaviors through our exciting new cross-continental rewards partners. All three emerging trends offer a unique opportunity for Vitality Health International to make a significant impact in these markets.”

She added that last year, Vitality Health International, announced a partnership with the social benefit organization, Goodbye Malaria, to accelerate the fight against malaria, a disease that is still taking an unrelenting toll on human health in Africa.

“Vitality Health International’s health insurance offering is aimed at positively impacting people’s health outcomes while improving and protecting their lives. By partnering with Goodbye Malaria, we are taking a significant step towards achieving this goal. We believe that by working together, we can reduce the negative impact of malaria and save many lives on the continent” says Emma Knox, CEO of Vitality Health International: Africa. “Malaria remains the most prevalent disease in Africa with a major impact on the lives and livelihoods of the most vulnerable with $12 billion lost in productivity every year.”

This partnership will have a strategic focus in the fight against malaria with the aim to potentially eradicate this deadly, yet preventable, disease in years to come.

“Our health insurance model, with the Vitality program at its core, is highly relevant in the context of the changing landscape. Vitality Health International’s unique healthcare solutions that reward healthy living can assist employer groups in managing employee health for the best business and individual outcomes. The shared-value model also brings down the insurance risk and improves performance as an insurer. At the same time, Vitality Health International is contributing towards a healthier society over time,” Knox concludes.

Meanwhile, Deputy Registrar-Insurance of the Pensions and Insurance Authority of Zambia, Dr Brian Manchishi, welcomed this partnership adding that the initiative will help to grow the insurance sector in Zambia.  

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Madison Life Insurance Company Zambia Limited(MLife) is

Tech

Education expert Rozious Siatwambo has attributed the poor percentage score in mathematics among all subjects to the overreliance on technology by the learners rather than developing one’s own problem-solving skills.

According to official statistics, there’s no denying that math scores are a cause for concern as they have been declining over the past few years, with some experts predicting that this trend is likely to continue.

The 2023 School Certificate (Grade 12) examination results highlights revealed that mathematics recorded the lowest mean percentage score among all subjects down to about 26% from about 28% recorded in 2022 which is a worrying trend, as Mathematics is one of the core subjects and critical for many fields of study.

According to the 2023 School Certificate (Grade 12) Examination Results Highlights seen by the Zambian Business Times – ZBT, mean percentage scores ranged from 26.62 percent in Mathematics to 70 percent in Food and Nutrition, almost similar to the range of 27.51 percent in Mathematics to 70 percent in Food and Nutrition in 2022.

Speaking in an exclusive interview with ZBT, Dr Siatwambo who is also the owner of the Great North Road Academy, said the overreliance on technology by most students is hindering the development of their problem-solving skills, leading to dull math performance.

Asked what can be done to reverse this trend? Dr Siatwambo suggested that schools need to place a greater emphasis on teaching problem-solving skills and critical thinking while calling for a reevaluation of how technology is used in the classroom.

Dr Siatwambo noted that technology has become so universal in modern life that it’s easy for students to rely on it even when solving simple maths problems instead of developing their own problem-solving skills. He argued that students need to be taught how to think critically and solve problems without relying on technology such as a calculator, and that this is especially important when it comes to math.

“The major factor that has made the continued decrease in the performance of mathematics is the coming of technology technological advancement where people are now moving away from reliance on the brain and now relying on technology.”

“If you check around you find that even simple mathematics people want to get to the calculator and calculate so there has been so much reliance on technology and this has lobbed even learners of creativity where they can no longer solve even big problems.”

Dr Siatwambo added that the other factor has to do with the usual factor where maths is considered to be a difficult subject over a longer period which has worsened now by the introduction of technological advancement because even simple things someone would want to revert to a calculator.

When asked about the argument around maths being taught in the English language when statistics also show that most learners do not understand the English language hence the drop in maths performance, Siatwambo said, “every subject is very important because even mathematics itself if one does not understand English then they can interpret the mathematical concepts so for its very critical and subjects like literature they help us be analytical enhance even the issue of analyzing the issue and even coming up with a situation which is critical in this age and era we one need to be a critical thinker and also analytical for them to survive and to manage the number of aspects on the number of the economy.”

“For me English is quite critical because if one cannot interpret, read, and understand English it goes even to mathematics, and also a drop in English performance is attributed to the same technological advancement, if you look at society now people barely read people don’t read they have stopped reading now they just read one line even on social media you can post something then the people will only read the first one or two lines then they conclude.”

“So we are now in an era where people are too lazy to read they can’t read but they would rather just pick a concept and make a conclusion out of it and then they move on and it also tells a story of the society that we are living in I think our society is now too busy people are now too busy their minds are now too busy to grasp information, busy with the happening around social media as most people are now glued to social media and because they are busy they want to know what is happening everywhere.”  

“We need to go by times, the time that we are living in now as an educationist from our end It is good that this question is coming to me as the director of Great North Road Academy so we are alive to times we are living in now and one of the things we have done especially to our learners now because the foundation stage is quite critical if you are heading to secondary.”

“So what we have done is we have introduced subjects within the subjects of the ministry we have introduced programs that are aimed at sparking curiosity, objectivity, and analytical in terms of thinking and there are so many programs that we have introduced including an abacus where we make learners calculate mathematics faster than a computer.”

“So there is a daily program where learners add and calculate without a calculator so we are seeing that the more we do this it enhances analytical thinking, critical thinking, confidence, and creativity apart from that also we need to change our style of teaching so that it can be in tandem with the world that children are living in like I have given on our part we have introduced now exploring the future the subject that is being taught where everyone is learning about all these robotics and so it’s interesting.”

“So it will require that we change our curriculum I know there is a new curriculum that has been worked on but unfortunately, if you look at it it will take almost 4 to 5 years they are just working on it, and it will pilot for the next 5 years of which the world could have moved to the other stage by then.”

However, Dr Siatwambo also highlighted the need to change the style of teaching to be in tandem with the world that children are living in. “The education system needs to change its curriculum to keep up with the rapid advancement of technology and the changing needs of the world. While there is a new curriculum in the works, it will take almost four to five years to pilot when the world could have moved to the other stage by then.”

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Education expert Rozious Siatwambo has attributed the

Mining

Zambia is facing a significant loss as copper production drops to 690,000 tons in 2023 from over 800,000 tons in 2021 resulting in a loss of approximately $1 billion ($905, 501, 318) for the country at a time when copper prices are selling at about $8927 per ton.

This is a significant blow to Zambia’s economy, as the mining sector accounts for around 70% of the country’s export earnings. The drop in copper production have had a ripple effect on the nation leading to further economic challenges for the country.

The annual Copper production continued dropping and now stands at 690 thousand MT from 763, thousand in 2022, and over 800,000 in 2021 in 2023 representing about 64,721, and 101,434 declines in 2022 and 2023 respectively.

According to official annual copper production figures obtained by the Zambian Business Times – ZBT from the Mines and Minerals Development Ministry, it has been revealed that the annual copper production has dropped to 690 thousand metric tons (MT) from 763, thousand MT in 2022 to 698, 566 MT in 2023.

This is a drop of about 101, 434 MT compared to the over 800,000 MT copper production which was produced in 2021.

This marks a significant decline in copper production, which has been the backbone of the country’s economy.

The drop in copper production is expected to have far-reaching impacts on the economy, particularly as the country relies heavily on copper exports.

the decrease in copper production is a cause for concern for our country’s economy which rely heavily on copper exports. The drop in production is likely to lead to inflationary pressures, budget deficits, and a decrease in employment opportunities.

The decrease has been largely attributed to delays in recapitalizing Mopani Copper Mines – MCM and Konkola Copper Mines – KCM. These mines have been struggling due to a lack of investments, which has resulted in a decline in copper production. With now new pledged investment in the two mines it is hoped that the production will get back to normal as this has not only affected the mining sector but has also had a significant impact on the overall economy of Zambia.

The impact on the economy can already be seen as the country’s budget deficit has widened, and inflation is expected to rise further. This is already causing concern for the government, as they struggle to balance the budget and maintain economic stability.

The continued decline in copper production in Zambia is a cause for concern, and its impact on the economy is already being felt.

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Zambia is facing a significant loss as

Lifestyle

Following the Zambia police service revelations that they have taken interest in socialite Florence Solochi’s sextual assault case which is being handled in Kabwe of Central Province, Central province police has revealed that most of the people implicated in Solochi’s case are Kabwe based.

Recently the Zambia Police public relations officer Rae Hamoonga revealed that police had taken interest in a matter that was circulated on social media involving allegations of sexual assault by socialite Florence Solochi.

Hammonga also revealed that on April 2, 2024 Florence Solochi was summoned in Kabwe for an interview relating to the revelations she made during in a Facebook live video.

However this raised a lot of questions among members of the public on why Solochi was summoned in Kabwe when she lives in Lusaka.

But in response to Zambian Business Times -ZBT, central province commissioner Charity Munganga justified that one of the reasons the inquiry on the allegations made by Florence is being handled by officers in Kabwe is because most of the people she mentioned in the same case are based in Kabwe.

Munganga said that the other reason is because Florence Solochi is from Kabwe including both of her parents.

She said that the other reason the inquiry is being done in Kabwe is because a formal report of the case was never made in either r Lusaka or Ndola.

She noted that the other reason the inquiry is being done in Kabwe is because inquiry’s are easier to handle in a place where the victim and most witnesses are domiciled.

She further revealed that currently, solochi is under the care and custody of her parents in Kabwe.

“The inquiry about the allegations made by Florence is being handled by officers in Kabwe because of the following reasons: Florence Solochi is from Kabwe as both her parents are in Kabwe. Currently, she is under the care and custody of her parents here in Kabwe,” she said. “Most of the people who are mentioned in the same case are Kabwe based. A formal report of the same was never made in neither Lusaka nor Ndola as it were. Any inquiry often is easier to handle in a place where the victim and most witnesses are domiciled,” said Munganga.

It can therefore be noted that one of the major suspects implicated in this case is ZNS commander Maliti Solochi domiciled in Lusaka.

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Following the Zambia police service revelations that

Mining

Zambia’s mining industry is also feeling the brunt of the country’s national disaster, as load shedding takes its toll on operations.

The Ministry of Mines and Minerals Development has confirmed that the mining sector has not been spared from the power rationing, which has been implemented across the nation in response to the drought.

A source from the Ministry of Mines who asked for their names to be withheld due to the sensitivity around this issue, said that everyone is being affected by the load shedding including mining houses, but could not confirm how many hours will be given to the mining firms. The sources also said that the sector has been given a load-shedding schedule, which is affecting every aspect of society.

The mining industry is a key contributor to Zambia’s economy, and its operations are crucial to the country’s growth. However, the current power rationing is putting a strain on the sector and the country as a whole, and the consequences will be felt throughout the country.

While efforts to get a comment from ZESCO, the state-owned electricity company, on the rationing timetable for the mining houses were still underway by press time, it is clear that the sector and the country is in a difficult position.

The Country is already grappling with a range of challenges and the power rationing has added to these challenges which is likely to have a negative impact on production levels, as well as the country’s overall economic performance.

Zambia’s greatest fear that 2023/2024 would be hit by a devastating drought was finally confirmed by President Hakainde Hichilema – HH when he declared a state of national disaster and that Zambia would be asking well-wishers for humanitarian help.

Latter, ZESCO Managing Director Victor Mapani announced that the company will commence 8-hour daily load shedding effective Monday, March 11, 2024.

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Zambia's mining industry is also feeling the

Agribusiness

President Hakainde Hichilema has officially declared the Nigerian-owned International Institute of Tropical Agriculture (IITA) as a research hub in Zambia which has gained full diplomatic status as an international organization working in Zambia.

This is coming on the eve of the launch of the Institute’s Southern Africa Research and Administrative Hub (SARAH) and food system research and delivery facilities in the country.

Speaking during the official launch of the facility in Lusaka attended by the Zambian Business Times – ZBT in Chongwe, President Hichilema said Agricultural research is key to the development of the agricultural sector and urged other research institutions to work in collaboration with the new institution for the betterment of the country.

President Hichilema said the government will support the Agricultural research institution and will encourage it to work with the existing research institution in collaboration, which will be more beneficial to the farmers. This is after the President and other key stakeholders conducted an exhibition tour of innovations from IITA Zambia.  

IITA-SARAH, will now be able to host food system research and delivery facilities in Lusaka, will produce state-of-the-art technologies geared towards addressing critical issues like food insecurity, plant health, and seed systems in Zambia. This development is expected to strengthen partnership with the government and increase IITA-CGIAR’s contribution to the research and agricultural transformation efforts in the country.

Speaking at the same event, Former Nigeria President, Olusegun Obasanjo who is the IITA Ambassador for Africa who said the event was historic as the hub will ensure food and nutrition security not only for Zambia but also the rest of Southern Africa.

And IITA Director General and CGIAR Regional Director for Continental Africa, Dr. Simeon Ehui said this marks a significant step forward in strengthening agricultural research and development efforts in Zambia and across the Southern Africa region and establishing sustainable food systems.

The launch event brought together key stakeholders from the government, research, development and agricultural sector, and donor community to commemorate this significant milestone. High-level officials from IITA, CGIAR and the Zambian government highlighted the shared vision and objectives of the partnership and the research and delivery facility.

“The establishment of SARAH in Zambia 38 years ago and the launch of the food system research and delivery facilities underline the commitment of both IITA and the Zambia government to enhance agricultural productivity, food security, and livelihoods of millions in Zambia and the Southern Africa region.”

“The partnership will leverage IITA and CGIAR’s expertise in research delivery and agriculture innovation scaling to support the Zambian Government’s efforts in promoting sustainable agricultural practices, enhancing crop productivity, and mitigating the impacts of climate change on smallholder farmers.”

“We are excited to launch the IITA regional hub in Zambia, which will serve as a melting pot for innovative research, capacity building, and knowledge sharing in research and agriculture. This partnership with the Zambian Government reflects a mutual commitment to drive food systems’ transformation and improve the lives of millions of smallholder farmers in Zambia.” Remarked Dr. Simeon Ehui.

IITA-Zambia Country Director and IITA Regional Director for Southern Africa David Chikoye expressed excitement at hosting the event, which he said took lots of planning and engagement. “IITA will continue to support the Zambia government to achieve the agricultural transformation agenda, enhance food security, and promote sustainable development across the country and the region.”

In addition to being open to IITA scientists and partners from CGIAR and the National Agricultural Research Institute, including ZARI, the facilities are now accessible to professors, scientists, and students from national and international universities.

Picture by a ZBT staffer

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President Hakainde Hichilema has officially declared the

Agribusiness

The Fruits and Vegetables Association of Zambia has challenged the government to lift the ban on potato importation in a bid to cut down the high cost of the commodity.

Association President Bernard Sikunyongana said Zambia is experiencing a potato shortage, and this has led to a public outcry as the prices of potatoes skyrocket across the country.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Sikunyongana acknowledged the high cost of local potatoes and attributed it to the shortage of the commodity on the local market. According to Sikunyongana, a 10kg bag of potatoes in some supermarkets is selling at about K200, while the same bag in some far-flung areas is selling at over K200.

Sikunyongana projected that the cost of potatoes might go up to over K250 if the ban on importation is not lifted. He further warned that the cost of potatoes might even go higher because of the low potato yields expected from small-scale farmers who grew rain-fed potatoes that got damaged due to the lack of rainfall the country experienced in the 2023 farming season.

Sikunyongana has since reiterated the need for the government to lift the ban on the importation of potatoes to see potato prices trading lower to around K130.

“History has its own records because every year in March, we allow the importation of potatoes for three months until when the production for our local potatoes increases. But as it is, the prices of potatoes have gone up because there are not enough potatoes to cover everyone in the country, and this is why we’ve asked the Ministry of Agriculture to open the borders so that we import. Because once we import, the prices will start trading lower around K130 to K150, but right now, a 10kg bag of potatoes is selling above K200 because we do not have enough in the country,” he said.

Sikunyongana warned that the high cost of potatoes is likely to continue if governmnet do not allow the importation of potatoes now, and the prices will go above K250, causing the food basket to go upwards since potatoes are in the food basket.

He further added that few people would afford to buy potatoes because a bag of potatoes would cost more than a bag of mealie meal.

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The Fruits and Vegetables Association of Zambia

Lifestyle

Veteran politician Vernon Mwaanga has commended the government on the improved corruption perception index, which he says is the most improved and seen after so many years.

Zambia has made slight progress in addressing corruption, according to the latest 2023 Corruption Perception Index (CPI) released by Transparency International. The country scored 37 out of 100 from the 33 scored in 2022, indicating that it has improved its corruption record. However, countries that score below 50 out of 100 are considered to have serious corruption problems.

Speaking in an exclusive interview with the Zambian Business Times, Mwaanga charged that the most perceived areas of corruption in Zambia are the issuance of government contracts for the procurement of public goods and services, such as road contracts, construction contracts, and contracts involving the purchase of goods from outside the country such as fuel.

“We have corruption on the roads from the officers who stop people who don’t have tax but that is the smaller side of corruption. The top five areas or services of perceived corruption in Zambia are especially government contracts such as road contracts, construction contracts, and purchase of goods from outside the Country such as fuel, these are the key areas where corruption seems to have shown its ugly head in the past,” he said.

“It’s good to see that the corruption perception index has gone down for Zambia and it’s the lowest we’ve heard for many years I hope that President HH and his colleagues will continue this fight against corruption to correct the mistakes of the past and ensure that public resources are well spent on projects which benefit members of the community.”

“I do hope that they will tighten the screws to ensure that whatever little corruption that may have been left there is eliminated because we need those resources to benefit the people of Zambia, not the leaders, not their families, and not their friends,” said Mwaanga.

Mwaanga hopes that Hakainde Hichilema’s led administration will continue with the fight against corruption to correct the mistakes of the past and ensure that public resources are well spent on projects that benefit members of the public.

He emphasized the need for Zambia to learn from countries with the least perceived corruption and for the government to ensure that perpetrators of corruption are brought to book regardless of their social statuses.

“What we can learn from countries with the least perceived corruption is to ensure that corruption is eliminated. Corruption is evil and it must be put to an end because it does impact economic growth and the lives of ordinary people,” he said.

“Apart from learning from Countries with the least perceived corruption, we also need to learn from what has happened in other Countries of the World to put a tight screw to ensure that those with an appetite for corruption are brought to book and that those who have misused public resources regardless of who they must be brought to book and must be made to account for what they have done,” said Mwaanga.

Mwaanga believes that corruption is evil and must be put to an end because it does impact economic growth and the lives of ordinary people.

He also stated that Zambia needs to learn from what has happened in other countries of the world to put a tight screw to ensure that those with an appetite for corruption are brought to book and that those who have misused public resources, regardless of who they are, must be made to account for what they have done.

He however hoped that the Zambian government would take concrete steps to address corruption, especially in the issuance of government contracts, to ensure that public resources are well spent and that ordinary citizens benefit from government projects.

 

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