Saturday 21 October 2017
(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...
(Voice of America 07/25/17)
European and African ministers are meeting in Tunisia about efforts to regulate the flow of refugees from Africa to Europe, primarily along the deadly central Mediterranean route originating in Libya. In a declaration Monday in Tunis, the capital, the ministers said they agreed on a multi-pronged approach to the crisis, including informing people about the risks of illegal migration and the possibility of voluntarily returning home, addressing why migrants leave home and beefing up actions against human traffickers. Participating in the meetings were interior ministers from Algeria, Austria, Chad, Egypt, France, Germany, Italy, Libya, Mali, Malta, Niger, Slovenia, Switzerland, Tunisia and Estonia, which currently holds the EU Council presidency. Through the first half of 2017, nearly 84,000 migrants arrived in...
(Zambia Daily mail 07/21/17)
KING Mswati III has commended Zambia’s development efforts based on a people-centred approach and the commitment by President Lungu to lead the people of Zambia to prosperity. King Mswati particularly noted the impressive infrastructure development programmes taking place in most parts of the country. This is according to a joint communiqué issued yesterday after President Lungu’s three-day state visit to Swaziland at the invitation of King Mswati. “The King observed that there is need for the two countries to explore areas of cooperation and potential for trade, as well as share information, exchange experiences, best practices and visits.
(Zambia Daily mail 07/21/17)
Former freedom fighters have commended President Lungu for invoking Article 31 of the Constitution to give more powers to the police to curb acts of economic sabotage and sustain peace in the country. Zambia United National Freedom Fighters Association (ZUNFFA) national secretary Christine Mulundika said in a statement yesterday that the association is happy that the proclamation has proved to be well meant and does not derogate the rights and freedoms of citizens. Ms Mulundika said the proclamation is in line with Government’s commitment towards preserving the peace and tranquillity the country has enjoyed since independence. She said President Lungu deserves to be commended for putting the interest of the country first through the timely application of Article 31 to...
(Independent Online 07/21/17)
South Africa was committed to increasing trade and addressing the trade imbalance with Zambia. This was according to South Africa's Minister of Trade and Industry, Dr Rob Davies, ahead of a two-day Outward Trade and Investment Mission to Lusaka, Zambia, from 24-25 July. Twenty South African companies funded by the Department of Trade and Industry (the dti) will participate in the mission. Davies said the mission would assist the department with contributing towards South African’s objectives of regional integration by strengthening economic relations between the two countries. The mission also aims to advance the commitments made in December last year by the Heads of State of both countries during the state visit to South Africa by Zambia President Edgar Lungu,...
(Lusaka Times 07/21/17)
South Africa says it committed to increasing trade and addressing the trade imbalance with Zambia. Zambia is one of SA’s top five trade partners in the Southern African Development Community region. This was according to South Africa’s Minister of Trade and Industry, Dr Rob Davies, ahead of a two-day Outward Trade and Investment Mission to Lusaka, Zambia, from 24-25 July. Twenty South African companies funded by the Department of Trade and Industry (the dti) will participate in the mission. Mr. Davies said the mission would assist the department with contributing towards South African’s objectives of regional integration by strengthening economic relations between the two countries. The mission also aims to advance the commitments made in December last year by the...
(AFP (eng) 07/21/17)
The 2019 Africa Cup of Nations will expand from 16 to 24 teams and be staged in June and July, the Confederation of African Football (CAF) announced on Thursday. The tournament has traditionally been held in January and February, with the timing of the tournament a source of frustration to European clubs forced to release players in the middle of the season. The CAF executive committee confirmed the changes to the format following a two-day symposium in Rabat, although the tournament will continue to be held every two years and exclusively on African soil. The decision to increase the number of teams mirrors a similar one taken by UEFA to expand the European Championship, with 24 nations taking part at...
(The Associated Press 07/20/17)
Zambian media say 93-year-old Kenneth Kaunda, the country’s independence leader and former longtime president, is hospitalized. State broadcaster ZNBC reported Wednesday that Kaunda was admitted Tuesday evening to the University Teaching Hospital in Lusaka, the capital. ZNBC quotes Health Minister Chitalu Chilufya as saying Kaunda is in stable condition after “minor complaints” and could leave the hospital by Thursday. Kaunda led Zambia from independence from British rule in 1964 until 1991. Zambia was a one-party state for much of that time, though Kaunda eventually yielded to pressure to hold a multi-party vote and peacefully left office when he lost. Zambia’s democratic record after Kaunda was widely praised as an African model. However, the recent jailing of the main opposition leader...
(Zambian Eye 07/20/17)
Progress towards an IMF programme for Zambia remains slow and may be further delayed by domestic political events, Fitch Ratings says. Our expectation of an IMF programme is a key support to Zambia’s ‘B’/Negative sovereign rating. The IMF’s most recent mission to Zambia, which concluded last month, resulted in the Zambian authorities agreeing with the IMF on the “remaining actions needed to reach staff-level agreement”. A request to the IMF Executive Board could be made in August if the two sides can “reach understandings in the coming weeks”. But the IMF’s end-of-mission statement suggests that recent progress has been slower than expected, and that there are still obstacles to reaching a deal. It noted continuing revenue shortfalls and the possible...
(Xinhuanet 07/20/17)
Globalization will leaves the poor behind unless the United Nations (UN) implements its development goals in a way that benefits landlocked countries, a Zambian official said Wednesday. The UN's Sustainable Development Goals (SDGs) and the Agenda 2030 for Sustainable Development is aimed at eradicating poverty. The goals can be achieved only if the fundamental principle of "not leaving everyone behind" is translated into action at the global, regional and national level, said Zambia's Minister of National Development and Planning Lucky Mulusa. The Zambian minister, a representative for LandLocked Developing Countries
(Zambia Reports 07/20/17)
UPND leader Hakainde Hichilema has marked his 100th day behind bars with a statement reassuring his supporters things will one day be well. Hichilema says although enduring what he terms as “atrocious conditions”, he still held no ill feeling against his alleged persecutors. The leading opposition figure is awaiting trial for treason. The charge is non bailable. READ HICHILEMA’S STATEMENT Good morning fellow citizens, Yesterday marked 100 days from the day we were arrested. But we habour no hate for anyone as we believe that everything that happens in life is for a purpose. Our love for Zambia and what we aspire for the country to be has not changed. We are very clear on what our country needs to...
(Reuters (Eng) 07/20/17)
JOHANNESBURG (Reuters) - Africa's major central banks are entering an easing cycle as they try to stimulate growth after months of drought, austerity drives and confidence issues across the continent, a Reuters poll found on Thursday. Much of southern and eastern Africa is still recovering after an El Niño-related drought wilted crops last year. Poor business confidence in South Africa and foreign exchange restrictions in Nigeria have also hampered growth. "We expect that African monetary policy is entering a widespread and protracted period of policy easing. This will provide a boost to growth," said John Ashbourne, Africa analyst at Capital Economics. Ghana, which agreed a three-year fiscal discipline deal with the International Monetary Fund in exchange for aid in 2015,...
(Bloomberg 07/19/17)
Vodacom Group Ltd. sees the expansion of mobile-banking services into new markets in sub-Saharan Africa as a top priority following a shareholder vote to rubber stamp its purchase of a 35 percent stake in Safaricom Ltd., Kenya’s biggest company. “We will use Safaricom to enter other markets where neither Vodacom nor Safaricom are,” Chief Executive Officer Shameel Joosub said in an interview at the wireless carrier’s annual general meeting in Johannesburg on Tuesday. The two businesses have a combined 30 million mobile-banking customers, giving them “a very sizeable platform on the continent,” he said. Vodacom’s purchase of the Safaricom stake from U.K. parent company Vodafone Group Plc gives the South African company access to the fast-growing M-Pesa platform, which processed...

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