Connect with:
Saturday / May 23.
logo
mobile-logo
HomeStandard Blog Whole Post (Page 47)
Agribusiness

The Food Reserve Agency Public Relations Coordinator has disclosed that as of 28th August 2024, the Food Reserve Agency has purchased Four Hundred Twenty-Three Thousand, Eight Hundred Forty-Eight Metric Tons (423,848MTs) of Grade A non-genetically modified (non-GMO) white maize against the country’s annual maize consumption of about about 2.8m tons.

Speaking in an exclusive interview with the Zambian Business Times Food Reserve Agency Public Relations Coordinator John Chipandwe said, the quantity of the maize purchased so far is equivalent to Eight Million, Four Hundred and Seventy-Six Thousand, Nine Hundred and Seventy-Eight Fifty-kilogramme bags of maize.

“The total value of the purchased maize as at the indicated date above was Two Billion, Seven Hundred and Ninety-Seven Million, Four Hundred and Two Thousand, Seven Hundred and Forty Kwacha (K2, 797,402,740.00)” he disclosed.

Chipandwe further explained that their target for this year was to buy 300,000 Metric tonnes of non-GMO white maize, equivalent to Six Million Fifty-kilogramme bags of maize for National Strategic Food Reserves.

“Due to the drought situation, the Agency was directed to buy more maize in order to adequately replenish National Strategic Food Reserves for sustained domestic and National Food Security.” He said

Chipandwe further stated that as of 28th August 2024 the initial budget had been exceeded and the Agency purchased 423,848 MTs of maize representing 132.8% of their target of 300,000 MTs. 

In this regard, knowing how important maize is being our staple crop, the Agency will continue buying more maize from farmers in order to restock the National Food Reserves.

Furthermore, Chipandwe called upon farmers in the Provinces that were not affected by droughts to be more patriotic and sell their excess produce to the Government through FRA.

“The Agency believes that right now, the Northern part of Zambia is the food basket hence the need for excess maize to be sold to the Agency, which will then be transported to the other half of the country to help in feeding residents of the drought-affected provinces.” He explained.

Chipandwe added that once this is done, the Agency is optimistic that the risk of food insecurity will be curbed and no one will die of hunger.

0 Comments
0 likes

The Food Reserve Agency Public Relations Coordinator

Mining

The Central Bank’s (Bank of Zambia – BoZ) gold purchases for reserves have dropped in the second quarter of 2024 by about 20 percent compared to the gold purchased in the first quarter of 2024.

According to the Central Bank, Bank of Zambia Governor, Dr. Denny Kalyalya, In the second quarter of 2024, gold purchases amounted to US$8.6 million bringing the total holdings to US$176.7 million since the Bank started purchasing gold locally.

This is however a drop of about $2 million United States Dollars from the $10.6 million of Gold purchased by the Bank as indicated earlier during the 2024 quarter one Monetary Policy Committee announcement.

“In the second quarter of 2024, gold purchases amounted to US$8.6 million. This brings the total holdings to US$176.7 million since the Bank started purchasing gold locally.” Remarked Dr. Denny Kalyalya.

This is however despite some private gold producers like First Quantum Minerals’ Kansanshi mine where the central Bank have been largely purchasing Gold purchases recording an increase of over 55 percent in gold production.

The central Bank has been hugely relying on gold supplies from private entities due to the dormant state of the Kasenseli mine.

0 Comments
0 likes

The Central Bank's (Bank of Zambia –

Markets

Economist Yusuf Dodia has charged that Zambia’s economic instability is sending a negative view to both local and international investors, stating that the volatile state of the economy is causing investors to think twice before commiting funds.

Speaking in an exclusive interview with the Zambian Business Times (ZBT), Dodia expressed concerns about the adverse effects of electricity disruptions and high fuel prices on the flow of investments. Dodia said the uncertainty surrounding electricity availability, fuel prices, and the exchange rate, exacerbated by prolonged load shedding, is serving as a deterrent for potential investors. He warned that unless the economy stabilizes, investors may continue to hold back on bringing their money into the country.

“The Zambian economy at the moment is unpredictable, so investors would be thinking twice about bringing their investment in the Country, about bringing their money into an economy where they are not sure about the availability of electricity, about the price of fuel, about the exchange rate, 17hours of load shedding is deterrent for most investors, they may be holding back until they see a more stable Economy,” he stated. “Any investor is looking at the regulations that we have, such as the 26 percent charge on all deposits and Statutory reserves, dedolarization policy these are all mechanisms that investors are concerned about.”

In response to the Zambia Development Agency’s announcement of 8.9 billion United States Dollars in actualized investments out of 54 billion United States Dollars over the past three years, Dodia urged for a closer examination of these figures. He emphasized the importance of scrutinizing specific investments, particularly in critical sectors like mining, where essential projects, such as KCM and Mopani Copper Mines, are struggling to secure the necessary funding to operate effectively.

He said this lack of progress in vital areas has raised concerns about the true impact of these reported investment numbers.

0 Comments
0 likes

Economist Yusuf Dodia has charged that Zambia's

Lifestyle

The Zambia Statistical Agency – ZSA has revealed that food and transport prices are the main groups that have recorded the highest inflation or price increase for the August 2024 overall national inflation recorded of 15.5%.

According to the August 2024 monthly bulletin availed to the Zambian Business Times – ZBT, the index for transport increased by 22.6% between August 2023 and August 2024. This was higher than the 13.3% recorded between August 2022 and August 2023.

Transport costs have taken a hit following elevated fuel prices, a situation that drives up prices in all goods and services that have a logistics and transport element.

ZSA further reported that food and non-alcoholic beverages such as soft drinks prices increased by a whopping 17.6% between August  2024 and August 2023.

This was higher than the 12.6% recorded in the same between August 2022 and August 2023, raising further concerns about most households’ abilities to meet their consumption needs.

The government has hoverer launched a food for work and ramped up its social cash transfer drive to the most vulnerable and old-age citizens, but it’s the middle class that these steep increases will hit the hardest, as wages and business opportunities remain stagnant if not declining.

Newly appointed Statistician General Goodson Sinyenga announced that overall annual inflation continued to rise reaching 15.5% for the month of August 2024.

The country has further been hit by drought that has seen agriculture and food production drop significantly. with a reduction in production of the country’s stable food- Maize which is now being supplemented through imports from Tanzania.

0 Comments
0 likes

The Zambia Statistical Agency - ZSA has

Companies

Community Markets for Conservation (COMACO) a social enterprise that operates in Zambia to address the dual challenges of poverty and environmental degradation has continued helping food vulnerable and low income farmers to learn new farming and other livelihoods skills that do not rely on destructive practices such as poaching or deforestation.

29 ex-notorious poachers around Kafue National Park have recently undergone intensive training by COMACO in partnership with the Department of National Parks and Wildlife (DNPW) to offer alternative livelihoods such as beekeeping, gardening, livestock rearing, and conservation farming.

To help drive the adoption of these skills, COMACO has reiterated its commitment to manufacture and sell a range of food products to offer market incentives to farmers who commit to these skills by offering a higher market price for their crop surplus.

Through the tireless efforts of COMACO, a total number of 2, 212 ex-notorious poachers have so far surrendered their guns, snares, and spears in exchange for tools of hope, sustainability, and a better future.

Speaking during the transformed poachers graduation ceremony held in Mumbwa and attended by the Zambian Business Times – ZBT, COMACO Chief of Operations of Agriculture, Richard Mumba explained that COMACO began this journey in 2003, when poaching was rampant, and for many, it was the only way to provide for their families.

He remarked that in those days, the Luangwa Valley was a battleground, not just between people and wildlife, but between survival and sustainability.

“It was during those challenging times that we sat down with some of the most notorious poachers—men much who told us the truth: ‘they poached because it was the only thing they knew how to do and they lived a life of fear from being arrested, wounded, or even killed from wildlife.

From those conversations, the COMACO model was born—a model that brings market opportunities to communities in exchange for conservation efforts.”He stated that what started with 23 brave men choosing a different path has grown into a movement adding that the recent graduation of the 29 only adds to 2,183 former poachers across Zambia who have embraced a life of conservation. “And as a result, we have seen wildlife return to areas once depleted—proof that this transformation benefits us all.”

” I want to recognize that none of this would be possible without the unwavering support of the Department of National Parks and Wildlife. Their commitment to this partnership, their acceptance of surrendered weapons without repercussion, and their belief in the transformative power of education have been critical to our success. Together, we have shown that it costs less to transform a poacher than it does to arrest one, and the benefits to wildlife, to communities, and to Zambia as a whole are immeasurable.”

Mumba also commended the graduates for their courage, dedication, and commitment to a different way of life further urging them to take the lessons learned and become leaders in communities.

“Educate others about the importance of protecting our wildlife, and help those who still live in the shadows of poaching to see the light of a new future.”

Meanwhile, Director of DNPW Dominic Chiinda who graced the occasion, commended COMACO for unwavering dedication towards helping transforming different lives and families.Chiinda noted that in the past, poachers were arrested, punished, and their stories often ended in despair.

“However, through the tireless efforts of COMACO, we have chosen a path that benefits both people and wildlife—a path that offers second chances and promises a brighter future.”

“Since COMACO began its work in 2003, we have seen wildlife returning to areas where it had once vanished. And that is not just because we are protecting animals, but because we are investing in people. We are proving that when people are given the opportunity to provide for their families in sustainable ways, they will choose conservation over destruction.” Remarked Director Chiinda.

Speaking at the same event, Namukulo Hayumbu DC Mumbwa, said this is a celebration of change, hope, and the birth of a new beginning for these men, their families, and the community.She said through the partnership, “we have seen poachers—once seen as adversaries of conservation—become its greatest allies. This is proof that when people are given the tools, knowledge, and opportunities to change, they can contribute to the protection of our environment and wildlife in ways we never thought possible.”

Meanwhile, Transformed poachers’ representative, Joseph Sakuha thanked COMACO for the training giving them alternative and sustainable way of living.

0 Comments
0 likes

Community Markets for Conservation (COMACO) a social

Companies

The Zambia Airports Corporation Limited (ZACL) says it remains committed to its vision of being a world-class safe and secure airport service provider.

Speaking during the 35th-anniversary stakeholder cocktail, graced by Minister of Transport and Logistics, Frank Tayali, and attended by the Zambian Business Times – ZBT, ZACL Board Chairperson Zevyanji Sinkala, said the corporation is focusing on investing in cutting-edge technology, expanding infrastructure, and enhancing services to ensure Zambia remains a key player in the global aviation landscape.

He said the 35th anniversary, demonstrates the corporation’s remarkable journey of perseverance, ingenuity, and growth in the aviation industry.

Sinkala expressed immense pride in the achievements of the corporation over the past three and a half decades and the bright future that lies ahead.

He recalled that founded in 1989 with a clear mission to develop, manage, and operate airports and air navigation infrastructure to international standards, ZACL has not only met but exceeded these expectations, creating a proud legacy.”

He added that despite facing unprecedented challenges in the global aviation industry, ZACL has emerged stronger, more adaptable, and more determined to continue serving as a key driver of Zambia’s socio-economic development.

The corporation’s success over the years has been attributed to the collective efforts of its hardworking employees, valued stakeholders, and unwavering support from key partners.

He said the achievements and unwavering commitment of Zambia Airports Corporation Limited over the past 35 years demonstrate its pivotal role in the country’s aviation sector and its dedication to excellence.

Meanwhile, ZACL Managing Director Ngoza Matakala said that since 1989 when the Corporation was created, Zambia Airports Corporation has evolved into Zambia’s getaway to the world.

She said from the early days of becoming operationally independent in 1991 ZACL has consistently pushed the boundaries of excellence adapting modernization and ensuring that it remains at the forefront of the aviation industry.

0 Comments
0 likes

The Zambia Airports Corporation Limited (ZACL) says

Markets

Economist Notulu Salwindi has raised concerns about the National Pension Scheme Authority – NAPSA’s investment decisions, particularly the purchase of the condemned Society Business Park. Salwindi has emphasized the need for NAPSA to prioritize prudent utilization of the funds entrusted to them, stressing that it is essential to remember that they are managing the people’s money.

Reacting to the recent reports of the imminent demolition of the Society Business Park which was recently acquired by NAPSA from the Zambia National Building Society (ZNBS), Salwindi stated that NAPSA must not forget that they are dealing with the people’s funds and prudent utilization is a necessity. Salwindi said expert advice should guide NAPSA’s investment endeavors, as the responsibility of managing public funds should not be taken lightly.

He suggested that the Society Business Park debacle could have been prevented if NAPSA had heeded expert advice on the matter.

Salwindi underscored the importance of accountability in such situations, stating that taking action against those responsible for investment mishaps could lead to positive change. He stressed the need for individuals in positions of authority to uphold proper procedures and ensure accountability for their actions.

“The problem we have in our Country is that there will be no one to take responsibility or get fired, but ideally if we started taking action against people that are responsible for some of these mishaps we would see a lot of change, that means each one of us when we are operating in our respective offices we would see to it that proper procedures and ensure that if anything was to happen whilst we are holding these positions we are held accountable,” he said.

“It’s not NAPSA management or Government money it is the people’s money, we that contribute that money therefore when they are doing investments at the back of the mind it should sit at the back of the mind that this is someone’s money, the same way as an individual you would go to someone to invest your money on a project, the same scrutiny put into such an endeavor, is the same the way that we should take interest in decisions made by Companies that keep people’s money,” he said.

Salwindi charged that the Society Business Park debacle could have been avoided if they had listened to expert advice on the matter.

0 Comments
0 likes

Economist Notulu Salwindi has raised concerns about

Agribusiness

The Cotton Association of Zambia – CAZ, Executive Director has disclosed that the association is capable of meeting the required supply of cotton to Mulungushi Textiles once it reopens and begins operations.

Speaking in an exclusive interview with the Zambian Business Times, Cotton Association of Zambia Executive Director John Ngwenyama said, the reopening of China-Mulungushi Textiles comes with a lot of benefits for the farmers as it will motivate cotton farmers to increase their capacity on production so that they meet the demand for the textiles.

“One factor that will motivate the farmers is the stable market for the farmers as the local textiles will provide a local market for the Farmers there by reducing the reliance on fluctuating global markets because what has been happening is that for the ginners is that they have always been saying that they are offering this price because of the fluctuating global market prices, so that has brought mistrust among the local farmers.” He said.

He added that it has been difficult for them to bargain for a better price for their farmers as it has resulted in them being exploited thereby seeing most of them resort to taking cotton production as a by-the-way thing and not as a business.

“The local textiles that have been reopened will increase the bargaining power for our farmers as negotiating for prices and terms with the local manufacturers will be easy as they will not be depending on the international f luctuating markets as it will be locally decided which will be very easy for us to negotiate the price.” He alluded.

Ngwenyama further stated that the other challenge that they are facing is accessing quality planting seeds as there is no seed investor or company that is producing or multiplying the planting seed here in Zambia.

He further noted that the cotton farmers are more than capable of supplying Mulungushi textiles as what is just required is to guide the farmers, give them input such as quality seed as well as increasing monitoring and evaluation from planting up to the period of harvesting.

Ngwenyama further disclosed that currently there are about 100,000 cotton Farmers and the number is projected to increase to about 300,000 farmers which when projected on how much yield the 300,000 Farmers can be able to cover it is guaranteed to say they are most likely able to supply the Textiles.

0 Comments
0 likes

The Cotton Association of Zambia - CAZ,

Lifestyle

Following the death of a participant at the ABSA Marathon, an ABSA Bank employee James Chisanga, many questions have been raised as to the veracity and thoroughness of how the 2024 #AbsaMarathon was organised.

Accusations that the bank and their organising committee had put more efforts to get more participants neglecting the need to put adequate health measures have been raised.

A Medical Doctor who was among the health care facilitators has revealed to the Zambian Business Times – ZBT that the organizers should have taken more precautions to put in place a robust safety and health system to prevent unfortunate incidences such as the passing away of a participant.

The doctor whose identity has been withheld due to confidentiality considerations and the fact that they were part of the health care system told ZBT that some of the medical arrangements were only approved and given a go ahead with barely a week to the date of the marathon, giving little time to put in place adequate provisions.

The doc further revealed that most of the runners appeared not to be fit for the sporting event as the medical set up they put up was overwhelmed with participants seeking medical interventions.

“In upcoming events…, people should consider getting a proper health screen, honestly I met one woman who ran the 21 kilometer and she was quite a large woman and I asked her how much training were you doing a week? She said about 10-15 kilometers and that is not enough for a 21 Kilometer race, she must have put a huge amount of stress on her body’, the doctor told ZBT.

“Some people were being moved by peer pressure, they shouldn’t be doing the distances that they did,” he said. When asked about the ambulance services, the medical source said other teams took care of that and that he was not part of that team.

ZBT has received some concerns on the ambulance services that were available and the timelines it took for them to attend to participants. So far, no medical facility has owned up as those contacted by ZBT who were service providers for have all denied attending to the late James Chisanga and others who needed urgent ambulance emergency services.

In sharing more details on the ABSA incident, the medical source added that screening must be thorough because some of the participants may have underlining ailments.

“Lusaka and Zambia needs more events like the ABSA Marathon and several others but if the people are not doing proper training and [if organisers are not doing] proper screening we will have more unfortunate events happening,” he added.

“If someone came to me [as a trained medical doctor] and said that they are running five kilometers a week but then they will ran 21 Kilometers on Saturday, I will tell them they are an idiot, because there are high chances of getting tendonitis or high blood pressure,” he remarked.

The death of a participant in the ABSA marathon needs a sober reflection if such unfortunate future incidents are to be avoided. Even sports events in schools always have trained first aiders who are usually red cross to ensure that any health and safety emergencies are timely attended.

0 Comments
0 likes

Following the death of a participant at

Mining

A Chinese-owned Copper Mines in Luanshya, CNMC Luanshya Mine also known as 28 shaft has been accused of releasing contaminated water into the Kafue River.

The dewatering process at the flooded 28 Shaft has raised concerns about water contamination and the risk to both aquatic life and human health being discharged from the mine flowing into Nkurumashiba & Milyashi streams and consequently ends into the Kafue river.

Concerned stakeholders and NGOs have howevet called for comprehensive biological and chemical tests to assess the presence of harmful substances, particularly heavy metals, which could pose risks to aquatic life and human health.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, CNMC Luanshya Copper Mines Corporate Affairs Manager, Sydney Chileya however denied the allegations adding that the company conducts internal water tests and holds discharge certificates issued by the Zambia Environmental Management Agency (ZEMA) and the Water Resources Management Authority (WARMA).

The Company however admitted that although the discharged water may contain some levels of Manganese and iron, but only within permissible limits.

Chileya explained that the water pumped from the mine, having been underground for 20 years, may naturally contain trace amounts of manganese and iron. He however said that these minerals are within permissible limits and indicated that ZEMA conducts regular testing to ensure compliance.

“So the water that we pump first of all we test it ourselves before anything else we have the devise then secondly, ZEMA also tests so we have two discharge certificates we are sitting on, one is issued by ZEMA and the other one is issued by WARMA. The thing with water is that when you pump up from the mine the water passes through other places just like the rain water.”

“The water that we are pumping from the mine is water that has been underground for 20 years and because of other things maybe there may be iron there but these minerals found in water they have limits so you find the water we are pumping from the underground may have manganese, iron but the question is when ZEMA test are those alarming levels, the answer is no.”

“But we can’t be the Jury and the judge ourselves so when you get concerns about the water we are pumping I would encourage that you also get in touch with ZEMA because ZEMA has been coming here almost every week.” He remarked.

0 Comments
0 likes

A Chinese-owned Copper Mines in Luanshya, CNMC

Contact

Email: info@zambianbusinesstimes.com
Phone: +260 977 754 890

Lusaka office
Plot 127, Along Ngwerere Road, Lusaka, Zambia

Zambian Business Times