Monday 21 August 2017
(Lusaka Times 07/31/17)
Former Matero Member of Parliament Miles Sampa has defended President Edgar Lungu against accusations that he is sliding into a dictator. And Mr Sampa has advised expelled PF senior members Chishimba Kambwili and Mwenya Musenge to pause, take time and reflect. Mr Sampa who founded the defunct United Democratic Front said he still believes that President Lungu is a democratic. He also stated that he is still a member of the PF but serving a three-year suspension. “This means I am collectively supportive of all decisions made by the Party and by the President. At the moment I am busy with personal errands and school as I seek my PHD (opted for non-honorary).” He added, “My first central committee meeting...
(Lusaka Times 07/31/17)
Zambia is among 36 countries with more than 20% stunting.Stunting affects health, physical and cognitive development capacity as well as productivity in adulthood.It has been estimated that current levels of child stunting of 45% if unchanged in Zambia, will cost the country S$775m in productivity over a ten year period. There are various interventions that have been initiated to scale up nutrition levels in order to avoid stuntedness by targeting in both pregnant and breastfeeding women. One such programme is the Scaling-Up Nutrition (SUN) supported by six different partners and these are the UK Aid, Irish Aid, CARE, Sweden, Concern worldwide and Good Nutrition for a Better Zambia (NAZ)) with financial and technical support from the Food and Agriculture Organisation...
(Lusaka Times 07/31/17)
A delegation from the World Bank and International Finance Corporation (IFC) paid a visit Zambeef’s Ten-Miles Macro Outlet and Lusaka processing outlet on Friday (July 28) as part of the organisation’s wider tour of development projects and investments in the country. Expansion of Zambeef’s Novatek stockfeed division with the addition of a new processing plant in Mpongwe have been undertaken with support from IFC. The investment will generate additional capacity that will facilitate the continued growth of sales of Novatek stockfeed and Zamhatch day-old chicks to the local market as well as the export of surplus feed. In addition to the stockfeed plant, Zambeef continues to make significant investments in the country, having injected US$16.5 million in capital expenditure in...
(Lusaka Times 07/31/17)
International Trade Consultant Trevor Simumba says the recent spike in international copper prices should not make the Zambian government relax in its pursuit of an economic bail out from the International Monetary Fund. Mr. Simumba observed that the rise in copper prices could be the reason that the PF Government is now telling off the IMF. “This is the cause of the sudden short term optimism especially in GRZ hence the “we do not need IMF brigade”. This type of euphoria is the main cause of Zambia’s dismal performance in diversifying our economy,” Mr Simumba said. Mr Simumba observed that Zambia always ascribe good economic policies as soon as the copper price inches up forgetting that the bulk of the...
(Xinhuanet 07/28/17)
The World Bank has provided Zambia 600 million U.S. dollars to invest in various sectors of the economy as well as for budget support for the next three years, state media reported on Friday. The Bank has also committed itself to increasing its support to the southern African nation under the International Development Association (IDA) Minister of Finance Felix Mutati revealed this after meeting with the World Bank Executive Director for Zambia Andrew Bvumbe who is in the country for consultations. "We have received commitment from the World Bank for increased resources and about 150 million dollars will be in the form of budget support," he is quoted as saying by the Zambia Daily Mail. Out of the announced funds,...
(Zambia Reports 07/28/17)
Former MMD president Dr Nevers Mumba says Zambia real debt stands at US $30 billion disputing finance minister Felix Mutati's projection which is quoted at $7.2 billion. Dr Mumba, who is now one of the prominent supporters of UPND leader Hakainde Hichilema, has published an article on his Facebook page backing his claim and challenging the Zambian government to be truthful. "Considering that there is much confusion among Zambians on what the correct debt position is, we did our own research and concluded that the figure of $7.2 billion Mr Mutati gave is simply not true. "Based on evidence gathered from a variety of sources, we have found that the true figure appears to be at least 4 times larger...
(Lusaka Times 07/28/17)
President Lungu has called on all well meaning Zambians and all Stakeholders to support the PF Governments development agenda . Speaking at the ground breaking ceremony of the Kawambwa- Mporokoso road project this morning, The President stated that he expected all the infrastructure projects that government was embarking on to be of the highest standard. “We are all aware of the huge expenditure that Government is making on the construction of roads and related infrastructure such as bridges.” “We expect a Maximum return on the investment . I do not expect substandard roads and other infrastructure.” he said. He directed the Contractor RDA and Supervising Engineers to ensure that the road was constructed within the stipulated time and according to...
(Lusaka Times 07/28/17)
VICE-PRESIDENT Inonge Wina says Government will seriously consider introducing high speed trains in Zambia. Mrs Wina said the development can help decongest Zambian roads and reduce road carnage. Mrs Wina was speaking when she gave her impressions and experience after she travelled on a speed train from Chengdu to Miayang City for an hour at a speed averaging 200km per hour. “This is inevitable for any developing country because we want to decongest our roads and we want to move our goods and services and people to various places faster,” said Mrs Wina. She said its high time Zambia started planning for high speed trains as they reduce time spent travelling on traditional trains. Mrs Wina is in Miayang City...
(Lusaka Times 07/28/17)
On 21st June 2017, Finance Minister Felix Mutati gave a ministerial statement in Parliament in which he said that Zambia’s foreign debt stock stood at $17.2 billion. After much debate and discussion, he clarified later on that he had misspoken and that the correct figure was actually $7.2 billion. This figure was challenged, most notably by Mr Trevor Simumba, a Zambian financial analyst. Considering that there is much confusion among Zambians on what the correct debt position is, we did our own research and concluded that the figure of $7.2 billion Mr Mutati gave is simply not true. Based on evidence gathered from a variety of sources, we have found that the true figure appears to be at least 4...
(Zambia Reports 07/28/17)
South African President Jacob Zuma will join the long list of foreign heads of state that visiting Zambia to compare notes with President Edgar Lungu. President Lungu has kept a healthy relationship with fellow heads of state despite insinuations that Zambia is being isolated internationally as a result of alleged dictatorial practices. President Zuma is expected next week to grace the 91st Zambia Agricultural and Commercial Show in Lusaka. The 2017 Agriculture and Commercial Show will open to the public next Wednesday on August 2 and will close on August 7. Ghanaian President Nana Akuffo Addo graced the 2017 Zambia International Trade Fair adding to some of the heavies that visited the country under the watch of President Lungu. The...
(Lusaka Times 07/28/17)
The Human Rights Commission (HRC ) wishes to appeal to Law Enforcement Officers not to abuse human rights of suspects during the declared threatened state of emergency period but adhere to the provisions of the Preservation of the Public Security Act and the regulations made thereunder. The Commission calls upon Law Enforcement Officers to refrain from over-detention of suspects in their efforts to maintain law and order but ensure that detained suspects are taken to court within seven days as provided by the Statutory Preservation of Public Secury Act Regulations of 2017 , ( Statitutrolry Instrument No.55 of 2017). Any detention of suspects without a court hearing beyond the prescribed period of seven days under the Preservation of Public Security...
(Reuters (Eng) 07/28/17)
Barclays reported a 1.2 billion pound ($1.57 billion)attributable first half loss on Friday after taking a 2.5 billion pound hit from the sale of its Africa business and calling an end to its restructuring. The British bank said it had made a 1.4 billion pound loss on the sale of 33 percent of Barclays Africa Group, and took a further 1.1 billion pound impairment charge on the sale. Barclays in June cut its stake in Barclays Africa Group to 15 percent, ending more than 90 years as a major presence in the continent as it shifts its focus back to Britain and the United States. The losses from the sale of unwanted assets including the Africa business showed the costs...
(Xinhuanet 07/27/17)
The Zambian government on Wednesday expressed optimism that the country would attain the projected 4.3 economic growth for this year. Minister of Finance Felix Mutati said the government was confident of attaining the growth going by the positive economic trends recorded in the first half of the year. "This is mainly driven by observed growth in the major sectors of agriculture, mining, construction, transport and storage, and the wholesale, and retail trade," he said in a mid-year review performance statement. Increased electricity generation will also contribute to the positive perspective and support growth in other sectors, he added. He further expressed optimism that the 2017 budget deficit will be maintained at budgeted levels of around 7 percent due to improved...
(African arguments 07/27/17)
The ruling Patriotic Front's expulsion of one of its founding members paves the way for President Lungu to be its presidential candidate. But they'd be wrong to think they've seen the end of Chishimba Kambwili. Last week, Chishimba Kambwili MP, an ambitious firebrand and possible presidential aspirant, was expelled from the ruling Patriotic Front (PF), a party he had helped found 16 years previously. PF Secretary-General Davies Mwila claimed that the Central Committee's 22 July decision to dismiss the former Information Minister followed his covert attempts to destabilise the party. He dared Kambwili not to challenge his dismissal in court but rather to test his popularity in a by-election. At the time of publication, however, unconfirmed reports in the local...
(AfricaNews 07/27/17)
At a time when Africa is going through a difficult situation, the blue economy is emerging as a stepping stone to relaunch the continent in the right economic direction. But this type of economy is seriously threatened by “predators” who do not hesitate to plunder resources. The “cancer of illegal fishing” costs Africa about $ 1.6 million annually based on Economic Commission for Africa’s estimates. This and more on this week’s edition segment on Business on the Morning Call with Jean David Mihamle.
(Bloomberg 07/26/17)
Investors are overlooking Zambia’s political risk and buying the nation’s assets as the price of copper, its biggest export, rises. The yield on Zambia’s $1 billion Eurobonds due April 2024 have fallen 135 basis points this year to 7.55 percent on Wednesday. The southern African nation’s currency has appreciated 12 percent against the dollar in 2017, making the kwacha the continent’s best performer after Mozambique’s metical. Copper prices are at their highest in more than two years. The metal used in plumbing and electrical wiring accounts for about 70 percent of Zambia’s export earnings. At the same time, the country’s main opposition leader, Hakainde Hichilema has been detained for over 100 days on treason charges. President Edgar Lungu this month...
(AfricaNews 07/25/17)
Zambia was open for business, but Zambian companies should not only expect South African companies to come and invest, but also needed to stand up and go to South Africa for business. This was according to the Zambian Minister of Finance, Felix Mutati, at the two-day Trade and Investment Mission taking place in Lusaka this week. The mission has been organised by South Africa's Department of Trade and Industry (the dti) Mutati urged delegates and officials to build on the commitments made by the Heads of State of both countries during the state visit to South Africa by President Edgar Lungu of Zambia in December last year. The two countries agreed to deepen bilateral trade and investment relations. "We need...
(Financial Times 07/25/17)
President accused of opposition crackdown invoked emergency powers after suspect fires. The mysterious blaze that destroyed Zambia’s biggest market this month was still smouldering when President Edgar Lungu invoked emergency powers to prevent further “sabotage” he blamed on the opposition. But standing beside the burnt-out shell of the market in the capital Lusaka, those who lost livelihoods in the fire say that Mr Lungu, far from helping them, is presiding over the rapid decay of what was until recently one of Africa’s most peaceful democracies. “No one is free to say anything against the government. The president wants everyone to agree with him. This is not democracy,” says a taxi driver whose wife lost her stall in the blaze, and...
(Lusaka Times 07/25/17)
Zambia’s High Commissioner to South Africa Emmanuel Mwamba has called on South African companies to partner with Zambian firms. Mr. Mwamba also urged foreign companies to take advantage of the country’s investment climate to invest in various sectors of the economy. He said this during a trade and investment meeting in Lusaka. Mr. Mwamba further noted that Zambia and South Africa have a trade imbalance. He said there is need for Zambia to promote its goods in an effort to penetrate the South African market and the Southern African Development Community -SADC- region as a whole. And ZDA acting director investments Moses Mwanakatwe said the country has continued to grow the Gross Domestic Product to 6 percent since 2005. Mr...
(Lusaka Times 07/25/17)
The Zambia Tourism Agency (ZTA) says Zambia should scale up tourism promotion to increase tourist arrivals from China which has 100 million nationals visiting various destinations across the world annually . ZANIS reports that ZTA Executive Director Felix Chaila said Zambia needs to vigorously sell her culture if she is to tap into the Chinese tourism niche to position herself to benefit from the 100 million Chinese nationals visiting various tourism sites around the world. Speaking in Chengdu, China, Mr. Chaila said the Zambia week exposition is an ideal platform for the country to market its tourism potential and entice Chinese nationals to sample Zambia’s tourism. Mr. Chaila said his agency will use the Zambia week exposition to promote the...

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