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Tech

The Zambia Association for Musicians – ZAM has emphasized the urgent need for government to focus on the issue of monetization within the music industry.

Speaking exclusively to the Zambian Business Times ZBT, ZAM President Davison Munsanda highlighted the importance of monetizing digital platforms for Zambian artists, enabling them to generate revenue through music streams and online sales.

Emphasizing the need for Zambia to be on par with international standards in terms of monetization, Musanda stressed the potential for significant financial gains for artists and the industry as a whole.

Meanwhile, ZAM has expressed gratification with the government’s attention to their concerns regarding foreign artist fees and promoter license fees.

Furthermore, the President underscored the significance of fair and equitable treatment for Zambian artists, particularly in relation to foreign artists performing in the country. He called for a review of the fees associated with international artists’ performances and urged the government to ensure that such fees benefit the local music industry.

In addition to addressing financial concerns, the President emphasized the need for government investment in the arts, including support for music promotion, cultural exchange, and event organization.

He urged the government to implement policies and provide financial support to promoters, creating a conducive environment for the growth and sustainability of the music industry.

Musanda emphasized the importance of educating the public about the value of live music shows and the need to adjust ticket prices to reflect the quality and value of the performances.

He called for a comprehensive approach that aligns fee revisions with broader support structures to enhance infrastructure and promote the development of the arts sector.

“The biggest side from our sector they should focus on is monetization, we want to monetize all digital platforms we want our Artists to be able to generate revenue via streams ,we want Zambia to be on the same Grid like any other country in terms of monetization online, because then, with that we would be making a lot of money and generating a lot of money via sales of music and then as we do events , you see artists do not need to do events every day they need to do properly managed events in given spaces that means we’ll have events of value.” He explained

Musanda further explained to ZBT that Zambians need to know the value of shows they go to, needs to be elevated.

“If they were paying K50 for a show they need to understand why an artist now deserves to be watched by fellow Zambians by paying 300 to K2000 as this is the level that artists have reached but we are not moving at the same time.” He said

Munsanda further stated that they hope that the revising of the fees should speak to many other support structures that will be able to bring out implementation in terms of infrastructure and structures in the places of art.

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The Zambia Association for Musicians – ZAM

Agribusiness

On March 29, 2016, the government signed a US$45 million loan agreement with the African Development Bank (AfDB) to finance the Cashew Infrastructure Development Project (CIDP).

The project became effective on August 4, 2016, and was set to be undertaken over five years, concluding on June 30, 2022.

However, on June 1, 2022, the period was extended to June 30, 2023, to ensure the completion of infrastructure projects, which ended on December 31, 2023.

According to the 2023 auditor’s report, the total project cost was US$55.42 million, with USD 45 million financed by the AfDB loan (81.2%), the government counterpart funding of US$8.31 million (15.0%), and community or beneficiary contributions of US$2.11 million.

The report also indicated that at the beginning of CIDP, a target of improved household income of US$710 per household per year was set. However, during the period under review, income levels were 34% below the target.

The report further revealed that the failure to achieve income levels was attributed to the non-export of cashew nuts, as the target outcomes could only be reached when the crop attained peak production age.

During the period under review, CIDP set a target to increase the average cashew tree crop yield from 200 kg/ha in 2017 to 800 kg/ha in 2023.

However, as of December 31, 2023, yield levels were at 440 kg/ha, which was 45% below the target.

It was further indicated that the failure to increase productivity was due to the inadequate implementation of the rehabilitation and rejuvenation of old plants.

“The CIDP had a target of generating foreign exchange earnings of US$8 million per year. However, there were no foreign exchange earnings during the review period. The failure to earn foreign exchange was attributed to the non-export of cashew nuts.”

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On March 29, 2016, the government signed

Agribusiness

The Zambia China Mulungushi Textiles has disclosed that as of November 6, the facility has only received 13 containers out of an expected 400.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Mulungushi Textiles General Manager Brigadier General Emmanuel Siment said the 13 new machines are now being installed.

Siment further stated he was unsure of the exact number of containers required for the processing factory, but all 13 containers received so far will go to this section.

“Those thirteen containers that we offloaded are now being assembled. We expect the next consignment by mid-month,” he said.

Siment added that it might take a year to receive all 400 containers. “We are working section by section. Once a section is ready, we’ll start operating. Right now, we are focusing on the processing section,” he disclosed.

“We were instructed to complete the processing section before Christmas, aiming for a possible official opening afterward,” he stated.

Siment further disclosed to ZBT that they were supposed to put up 100 megawatts of solar power plants but have since increased it to 200 megawatts.

“We have started clearing the space for the solar panels and are finishing the wall fence to safeguard the installation,” he added.

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The Zambia China Mulungushi Textiles has disclosed

Companies

The Zambia Institute of Chartered Accountants (ZiCA) has reaffirmed its commitment to environmental sustainability by planting 100 fruit trees at Kabwanga Secondary School in Mumbwa District. The initiative is part of the Institute’s celebrations for International Accounting Day and its broader financial literacy program.

ZiCA Vice President, Joseph Matimba who led the tree planting exercise emphasized the dual benefits of fruit trees.

“Fruit trees provide a green and healthy environment while also serving as an economic resource by producing food and income for communities,” Matimba said according to a statement issued to the Zambian Business Times – ZBT.

He noted the rampant deforestation in the Kabwanga area and called for urgent community action to address climate change through sustainable practices.

“Climate change is real and planting trees, especially fruit-bearing ones can make a significant difference in fostering greener, more sustainable communities,” he added. Matimba further challenged every household to join the fight against deforestation by planting and caring for trees.

The initiative supports the government’s efforts to combat climate change and is in line with the Ministry of Green Economy and Environment’s mission for sustainable development. Among the fruit trees planted were guava, lemon, and citrus varieties, selected for their environmental and economic value.

Meanwhile, Mumbwa District Administration Officer, Dr. Simasiku Nawa, praised ZiCA’s tree planting initiative, highlighting its role in mitigating climate change while providing practical benefits. “Now in today’s climate change you get paid by planting trees and keeping trees and making money,” Dr. Nawa said. He urged Kabwanga pupils and the surrounding community to care for the trees, which will yield long-term benefits.

Headman Mukwempa of the Kabwanga area expressed gratitude to ZiCA, commending the initiative as a step toward sustainable development. He encouraged other organizations to replicate such efforts to make Zambia greener and healthier.

ZiCA’s commitment to sustainability reflects its broader mission to contribute positively to Zambia’s development beyond the financial sector.

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The Zambia Institute of Chartered Accountants (ZiCA)

Tech

Born and raised in Lusaka, Patrick Mutale’s journey into the world of media and film is a testament to passion and determination. From a young age, Patrick was deeply passionate about film and knew exactly what he wanted to pursue. He began building his career in the industry early, driven by a clear vision and commitment to his craft.

Patrick began his education at Twalange Primary School in Lusaka, followed by Muchinga Basic School and Saint Kizito School in Chipata and later completed his secondary education at Anoya Zulu Boys Secondary School in Chipata in 2015.

After completing school, Patrick dove headfirst into media projects, driven by his deep-seated interest in film and television. It was through a friend, an alumna of the MultiChoice Talent Factory (MTF), that he discovered the MultiChoice Talent Factory (MTF) Academy. Upon learning about MTF, Patrick recognized it as a golden opportunity for individuals like himself to refine their skills and gain industry exposure.

“I was excited when I heard about MTF and immediately knew it was something I wanted to pursue,” Patrick recalls. Though he discovered the program late in the year, he applied in 2022 with confidence, certain his passion and qualifications would earn him a spot.

“When I was picked, I was overjoyed,” Patrick says. “I even turned down some jobs to focus on filmmaking because I knew I would be at MTF the following year.”

Patrick’s preparation and confidence paid off, and his time at MTF proved transformative. With a certificate in ethno-linguistics from the University of the Nations in Eswatini (Swaziland), he already had a solid foundation. However, MTF allowed him to dive deeper into cinematography, post-production, and technical skills like camera work—areas he found most captivating.

“I enjoyed cinematography, post-production, and technical work at MTF,” he stressed in an interview.

In 2023, Patrick graduated and joined Wathinta Imbokodo Post Productions, the team behind editing Mpali, one of Zambia’s most beloved TV series. His role involves creating motion graphics and contributing to TV production, a testament to the skills he honed during his MTF experience.

“I’m able to contribute to the Mpali production because of the training I got from MTF. I owe it to MTF,” says Patrick.

Passionate about visual effects, Patrick dreams of becoming Zambia’s leading visual effects (VFX) artist. “I want to build a company specializing in VFX because there’s a gap in Zambia’s media industry,” he explains.

His ambition is to pioneer this niche, offering world-class VFX services and elevating the country’s media production landscape.

To aspiring filmmakers and MTF applicants, Patrick offers this advice: “Be specific about what you want to achieve when applying to MTF. Passion and focus are key to standing out.”

Patrick’s journey exemplifies how dedication, opportunity, and a clear vision can transform talent into impact, positioning him as a rising star in Zambia’s creative industry.

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Born and raised in Lusaka, Patrick Mutale’s

Companies

Despite external pressures, MultiChoice’s strategy leverages a solid financial foundation, targeted investments, and disciplined cost management to drive future growth and deliver the best video entertainment to customers.

•           Unprecedented foreign exchange pressures and economic challenges in key African markets impacted earnings and dampens subscriber growth

•           On track to right-size cost base and grow new revenue streams to drive future growth as streaming gains traction at the expense of traditional pay-tv

•           Cost-cutting measures delivered R1.3bn in permanent savings, on track to reach increased full-year target of R2.5 billion

•           Showmax customer base grew 50% YoY as a leading streaming service in sub-Saharan Africa

•           Strong revenue growth in new products: DStv Steam +71%, DStv Internet +85%, DStv Insurance +31%, KingMakers +53%

•           Strong liquidity of R10 billion provides solid financial base to support growth

•           Negative equity position on track to be resolved in November 2024.

MultiChoice Group (MCG or The Group) continued to deliver exceptional video entertainment and execute on core strategic initiatives during the first six months ended 30 September 2024 (1H FY25).

However, unprecedented foreign exchange volatility severely impacted the Group’s interim financial results, while ongoing macroeconomic challenges weighed on customer growth and moderated overall performance.

Facing the most challenging operating conditions in almost 40 years and to generate desired returns, the Group has been proactive in its focus to “right-size” the business for the current economic realities and industry changes.

Although operating across Africa typically subjects the group to currency moves, abnormal currency weakness over the past 18 months have reduced the group’s profits by close to R7 billion.

Combined with the impact of a weak macro environment on consumers’ disposable income and therefore on subscriber growth, it required the Group to fundamentally adjust its cost base – which is exactly what has been done. The normal cost savings program was accelerated, resulting in permanent savings of R1.3bn in over the past six months and an increased target of ZAR2.5bn for the full year.

“We are making good progress in addressing the technical insolvency that resulted from non-cash accounting entries at the end of the last financial year. We expect to return to a positive net equity position by the end of November this year, supported by a number of developments and initiatives. The Group’s liquidity position remains strong, with over ZAR10bn in total available funds,” says Calvo Mawela, MultiChoice Group CEO.

The Group is also adjusting to global Pay-Tv challenges as streaming services, the rise of social media and changing consumer preference impact the traditional broadcast business. Showmax, which reported 50% growth YoY in its paying customer base, strategically positions the business to actively participate in the streaming revolution as it gains momentum across Africa. To create sufficient capacity and drive growth, the group stepped-up its investment in this business by an incremental ZAR1.6 billion during the interim period.

“We have successfully been implementing our strategy over the past few years, achieving key milestones such as our investment in KingMakers, returning the Rest of Africa business to profitability in FY23 and FY24, concluding the Showmax partnership with Comcast and investing in Moment. While we’ve made huge inroads to reduce our cost base, there’s still more work to be done”.

“However, our focus extends beyond cost efficiency—we are equally committed to grow the business. We remain committed to driving new revenue streams and see significant medium to long-term opportunities in video entertainment, particularly in streaming, and in our adjacent new businesses,” says Mawela

The Group reported strong momentum in its new products and services, which all delivered robust   YoY revenue growth, i.e. DStv Stream +71%, DStv Internet +85% and DStv Insurance + 31%. KingMakers reported a healthy 27% increase in its online monthly active users in Nigeria and grew its revenue in Naira by 53%, while newly-launched SuperSportBet is showing good early traction in South Africa.

Financial Results Overview

Subscriber base: The pressure on the linear pay-TV subscriber base was lower than the previous six-months, reflecting a 5% decline (0.8m) compared to 6% reported (1.0m) in 2H FY24. This reflects an improving sequential trend. On a YoY basis, the linear subscriber base declined by 11% or 1.8m subscribers to 14.9m active subscribers, impacted by the challenging macroeconomic conditions that negatively impacted discretionary consumer spend.

Group revenues: Revenues increased by 4% YoY to ZAR25.4bn on an organic basis, due to disciplined inflationary pricing and revenue growth of new products. On a reported basis, revenues declined by 10%, impacted by foreign exchange pressures on the Rest of Africa business and a stronger Rand against the US Dollar.

Group trading profit: The Group’s ongoing cost optimisation drive delivered ZAR1.3bn in savings, and together with other improvements in the business, it resulted in a 33% increase in trading profit before incorporating the Showmax costs. A ZAR1.6bn step-up in the investment behind Showmax to create capacity for growth, trimmed the organic trading profit to ZAR5.0, a decline of only 1% YoY. Foreign exchange losses in the Rest of Africa business amounting to ZAR2.3bn reduced reported trading profit to ZAR2.7bn.

Adjusted core headline earnings, the board’s measure of the underlying performance of the business, amounted to ZAR7m, impacted by foreign exchange losses and the investment in Showmax.

Cash flow and liquidity: The Group free cash flow remained positive at ZAR0.6bn, with ZAR5.7bn retained in cash and cash equivalents. Despite the increase in net interest costs and a higher average debt balance, the Group remains well-positioned to navigate current challenges with access to ZAR4.4bn in undrawn facilities.

Operational update

General entertainment and sport

Delivering content that customers love remains the Group’s core focus— whether it is the best of local or international general entertainment or the most exciting sport events.

In the past six months, the Group produced 2,763 hours of local content, bringing its local content library to 86,215 hours.

SuperSport reinforced its reputation as a global leader in sport broadcasting with extensive coverage of the Paris 2024 Olympic Games, EURO 2024, and the ICC T20 Men’s World Cup. Over the past six months, SuperSport has broadcast 10,240 live events and provided a total of 21,540 hours of live coverage, a 22% increase YoY. 

SuperSport Schools doubled its user base and crossed a milestone of one million registered users on its app, delivering over 35,000 hours of content over the past six months.

Business segments

As a mature business, MultiChoice South Africa is focused on subscriber retention and reconnections, identifying remaining growth opportunities, as well as optimising processes and systems to improve customer experience and operational efficiency.

In the Rest of Africa business, the Group is implementing several initiatives to support improved financials, including price adjustments to counter the impact of inflation, renegotiating content deals where feasible, restructuring select packages to enhance ARPU, optimizing the DTT network, and intensifying anti-piracy initiatives.

In FY25, Showmax is focussed on enhancing its content line-up, bedding down distribution partnerships, expanding payment channel integrations and refining its go-to-market strategy.

Irdeto delivered encouraging revenue growth, after securing a major customer in Asian and expanding managed services with a key customer in Australasia.

KingMakers continued to gain strong momentum in Nigeria, where BetKing Nigeria has secured the second position in the online betting market. SuperSportBet, the South African business launched late last year, is showing early signs of success and reported a remarkable tenfold increase in net gaming revenue over the past nine months.

Moment, now live in 40 African countries, has shown rapid growth since its launch last year, with total payment volumes (TPV) growing to USD242m. It is already processing almost 30% of the Group’s payments.

Looking Ahead

The Group continues to invest in its long-term future, focusing on the following strategic priorities:

•           Improving profitability and cash generation in the South African business.

•           Streamlining the cost base in the Rest of Africa to return this business to profitability.

•           Investing in Showmax to establish it as the leading streaming platform on the continent.

•           Supporting KingMakers, Moment and DStv Insurance to drive scale.

By executing well on these objectives, the Group will be well positioned to deliver future growth and create value as Africa’s leading video entertainment platform and most-loved storyteller.

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Despite external pressures, MultiChoice’s strategy leverages a

Mining

The recent Auditor General’s report has unveiled shocking lapses in the mineral export process, raising concerns about the authenticity of mineral content and the potential loss of significant revenue for the country.

According to the report of the Auditor General on the accounts of the republic for the financial year ended 31st December 2023, crucial X-ray fluorescence spectrometer (XRF) machines meant to verify mineral content in consignments, were either missing or non-functional at key border posts.

This is contrary to the existing procedures where minerals are required to undergo inspection using an XRF machine at the port of exit to ensure that their mineral content matches the accompanying documentation.

However, it was discovered that the Victoria Falls border post lacked an XRF machine, while the machine at the Chirundu border post was reported to be non-functional.

This oversight meant that mineral exports were not properly inspected to confirm their conformity with valuation certificates issued by the Ministry of Mines and Minerals Development, raising serious doubts about the accuracy of the exported mineral content.

Furthermore, a review of transit documents from March and April 2024 exposed a staggering inconsistency in the transit declarations as a total of 194 transit declarations, with guaranteed amounts totaling K53,980,245, had entered the country through various ports with the intention to exit through different ports, but had not actually exited the country.

The reports indicate that alarmingly, there was no evidence that the relevant authority had redeemed the bonds associated with these unaccounted transits as of August 31, 2024.

The implications of these findings are deeply concerning, as they point to potential irregularities and significant revenue losses in the mineral export process.

The lack of oversight and enforcement in ensuring the proper inspection of mineral consignments, combined with the failure to track and account for transit declarations, raises serious questions about the integrity of the country’s mineral export operations.

The revelation of these lapses also underscores the urgent need for comprehensive reforms and heightened oversight in the mineral export sector.

Without swift and decisive action to address these glaring deficiencies, the country risks further erosion of its mineral resource management and potential loss of vital revenue.

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The recent Auditor General’s report has unveiled

Agribusiness

The Avocado Grower Association Zambia (AGAZ) says the avocado industry in Zambia is reeling from a severe crisis as droughts have led to substantial tree losses among farmers.

Speaking in an exclusive interview with the Zambian Business Times – ZBT, Lungu revealed that the impact of the droughts has significantly affected production and revenue streams, with many farmers losing a large number of avocado trees.

Lungu expressed deep concern over the devastating effects of the water crisis, noting that most avocado farmers are unable to water their trees due to the lack of irrigation systems in their fields.

He added that this has resulted in major buyers running out of avocados due to the association’s inability to supply them.

Highlighting the broader implications of the crisis, Lungu emphasized the significant drop in production and its potential impact on revenue streams.

He underscored the industry’s previous success, citing the recent commencement of avocado exports, and lamented the current situation’s adverse effects on both farmers and the government.

Lungu drew attention to the government’s prior recognition of the avocado industry’s economic contributions, expressing concern that the crisis might overshadow the industry’s importance in policy discussions. He noted that while the government has historically focused on other agricultural initiatives, such as FISP, the avocado sector has been overlooked, despite a notable mention by the republican President Hakainde Hichilema.

Meanwhile, Lungu urged remaining avocado farmers to explore alternative, affordable irrigation methods, such as solar installations, to mitigate the impact of the water crisis on their plants.

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The Avocado Grower Association Zambia (AGAZ) says the avocado industry

Agribusiness

The Cotton Board of Zambia – CBZ Senior Cotton Inspector, Derrick Sichilima, has stated that the cotton sector needs an estimated K13 million to be revamped and upscale productions amid plans to reopen Mulungushi Textiles.

Speaking exclusively to the Zambian Business Times (ZBT), Sichilima explained, “We need about K13 million, but we have only received K3.2 million. To revamp the sector, especially with the reopening of Mulungushi Textiles, we need to collaborate with such institutions and fulfill our duties as regulators. Without adequate resources, it becomes difficult for us to operate effectively.”

He further highlighted that, despite the Ministry of Agriculture receiving significant funding, the cotton sector has not benefited fully.

“Most of the funds are directed towards social security, drought impact relief, and the Food Reserve Agency (FRA), leaving us without the support we need,” Sichilima stated.

He expressed concern that the limited funds are hampering the sector’s progress, adding, “We wish we had received a substantial allocation to help the industry, which is currently limping.”

“We need about 13 Million, but we have only received about 3.2 Million. if we have to revamp the sector, you know as a regulator, and with the coming in of Mulungushi Textiles there, we need to work together with that institution and do what we are supposed to do as regulators and advise, or give direction on how to go about this sector, now you know if we do not have resources it is difficult for us to operate.” He said

 “The Ministry of Agriculture has received a huge amount, but if you look at where that amount is targeted, it’s targeted to social security issues and also the impact of the drought as well as to FRA, that’s where the chunk of resources he as gone, so for us as a cotton board we have not benefitted.” He stated.

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The Cotton Board of Zambia - CBZ

Markets

Zambia’s private sector faces a severe liquidity crunch as commercial banks shift their focus to government securities, raising fears about stagnating job creation, reduced exports, and slower economic growth. The root of the liquidity problem lies in the fact that commercial banks are investing about 70% of their treasury in government bonds and treasury bills, leaving just 30% for private sector lending. In an exclusive interview with former Zambia Development Agency Director Makula Makasa, he mentioned that this trend has devastating effects on business operations and employment. “If companies don’t have liquidity, they can’t expand their operations, and that means no jobs are created,” Makasa explained.

The consequences are twofold:

  1. Revenue losses for the treasury—as businesses fail to grow, the government collects less in taxes.
  2. Weakened export potential—without expansion, companies cannot contribute to foreign exchange through increased exports.

One may ask the question, “Why are banks preferring bonds?” The answer is that banks are reluctant to lend to the private sector due to high risks. “The government is a safer bet. With global economies slowing down, banks are advised to keep their money where returns are guaranteed,” Makasa explained.

The global economic climate, particularly the slowdown in China and the U.S., has further pushed Zambian banks to avoid risky ventures. Even sectors with growth potential, like agriculture, are seen as unreliable due to droughts and erratic rainfall.

With fewer loans available, job creation efforts have stalled. Makasa highlighted that youth unemployment remains a critical issue. “If we don’t find ways to extend capital to the private sector, the number of unemployed youths will only increase,” he warned. The lack of jobs also threatens the stability of pension funds, as fewer workers mean fewer contributions to the national pension system.

Makasa stressed the need for creative solutions to re-engineer Zambia’s capital markets. He called for policies that encourage banks to lend to strategic sectors that can generate jobs and drive economic growth. “The government must take deliberate steps to stimulate the private sector. If we fail to address this liquidity issue, we risk stifling economic progress,” he cautioned.

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Zambia’s private sector faces a severe liquidity