StanChart ‘banks’ on 15 Zambian female entrepreneurs

 

As 15 candidates make the short-list for the US$10,000 prize                                                                             

 

Standard Chartered Bank CEO, Sonny Zulu, has said that the Bank leads the way in supporting female entrepreneurship in Zambia. He was speaking at an event to celebrate 15 Zambian female entrepreneurs who have been short-listed for the Standard Chartered Bank Women in Tech programme in Lusaka last night.

Launched in 2020 at the height of the Covid-19 pandemic, Standard Chartered Women in Tech provides grants of US$10,000 each to those Zambian women who demonstrate how they will use technology to scale up their businesses. In 2024, 15 women have made it to the short list. They will battle it out for the much-coveted top prize of a US$10,000 grant to scale up their businesses. This year, the Bank has increased the number of winners from 5 to 6.

The 15 short-listed businesses are from a diverse range of sectors – from education and childcare service Apps to maid service Apps and creative arts, amongst others.

Mr. Zulu emphasised that beyond the internet, Artificial Intelligence (AI) is set to be way bigger and will form an integral part of how we do business. He challenged the female entrepreneurs to take advantage of AI and make ways to start adopting it as soon as possible.

The 15 short-listed candidates will now go on to pitch their ideas to an independent panel of judges – six will emerge as winners and receive US$10,000 each.

The Standard Chartered Women in Tech aligns with the Bank’s key priorities of lifting the participation of women in Zambia’s economy, as well as supporting small business enterprises (SMEs). Since it was launched, the Bank has invested over half a million US Dollars into the programme.

 

 

 

 

The Inauguration of the 10th Merck Foundation Africa Asia Luminary in Mumbai, India, sounds like a truly momentous occasion, filled with collaboration and celebration. Partnering with esteemed institutions and government bodies, including the Tata Memorial Centre and Department of Atomic Energy, reflects the Merck Foundation's commitment to advancing healthcare and education on a global scale.

The presence of African First Ladies from 11 countries underscores the importance of this event in fostering partnerships and exchanging knowledge to address critical healthcare challenges across the continent. Their participation highlights their dedication to improving healthcare access and quality in their respective countries.

The Merck Foundation's provision of over 1740 scholarships to young doctors from 50 countries in essential specialties is commendable. By focusing on critical and underserved areas such as Oncology, Diabetes, and Fertility Care, the foundation is not only supporting the development of healthcare professionals but also addressing pressing healthcare needs in diverse communities.

The emphasis on training and clinical experience in India, through partnerships with prestigious institutions like the Tata Memorial Center and Manipal University, demonstrates the foundation's commitment to providing high-quality education and practical skills to scholarship recipients.

Moreover, celebrating the 6th Anniversary of the Merck Foundation and reflecting on its 11-year journey of development programs highlights the foundation's long-term commitment to making a meaningful impact in healthcare and education globally.

Overall, the Inauguration of the 10th Merck Foundation Africa Asia Luminary represents a significant milestone in advancing healthcare and education partnerships across continents. It serves as a testament to the power of collaboration and innovation in addressing healthcare challenges and improving lives worldwide.

 

 

MERCK FOUNDATION TO EDUCATE LINDA

The Merck Foundation's "Educating Linda" program is indeed a commendable initiative aimed at empowering young African girls through education. Recognizing the transformative power of education in advancing women's empowerment and fostering national development, the program provides opportunities for underprivileged but talented girls to pursue their dreams and fulfill their potential.

By tailoring the program to each country's specific needs and circumstances, the Merck Foundation ensures that it effectively addresses the challenges faced by girls in accessing quality education. Through scholarships and grants covering school fees, uniforms, and essential supplies, such as notebooks and pens, the program removes financial barriers and enables girls to continue their education without hindrance.

The impact of the "Educating Linda" program extends beyond individual beneficiaries to contribute to the overall empowerment and prosperity of the participating countries. By investing in the education of girls, these nations stand to benefit from a more skilled and empowered workforce, leading to greater social and economic progress.

Moreover, the program's alignment with the Merck Foundation's "More Than a Mother" campaign underscores the holistic approach to addressing women's issues and promoting gender equality. By recognizing the multifaceted challenges faced by women, including infertility stigma, and addressing them through initiatives like "Educating Linda," the foundation demonstrates its commitment to creating meaningful change in communities across Africa.

Overall, the Merck Foundation's "Educating Linda" program exemplifies the importance of collaborative efforts in advancing women's empowerment and fostering sustainable development. Through education, these young girls are not only given the opportunity to realize their potential but also to become catalysts for positive change in their communities and beyond.

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TAU LAUNCHES ICT DEGREE PROGRAMS

By Daily News Reporter

The launch of new age Information Technology degree programs by Texila American University Zambia is a significant step towards equipping students with the digital skills needed to meet international standards. This initiative, endorsed by Dr. Clement Sinyangwe, President of the Information Communication Technology Association of Zambia (ICTAZ), aligns with the evolving direction of the industry and underscores the university's commitment to providing cutting-edge education.

Dr. Sinyangwe's remarks highlight the importance of promoting research and innovation in the IT sector, emphasizing ICTAZ's role in fostering a conducive environment for the development of IT professionals in Zambia. He commends Texila American University Zambia for establishing itself as a center of excellence for learning, research, and innovation in Information Technology, recognizing the potential of IT to drive the country's technological growth and development.

The introduction of new age IT degree programs not only enhances the skills of students but also contributes significantly to the advancement of Zambia's ICT ecosystem. In today's digital era, where technology plays a vital role in various aspects of life, the demand for skilled IT professionals is higher than ever before, as Dr. Sinyangwe rightly points out.

Furthermore, Choolwe Nalubamba, Director General of the Zambia Information Communications Technology Authority (ZICTA), emphasizes the importance of increasing the number of professionals in the ICT sector to meet the growing demand for IT services. The launch of these new degree programs is seen as a pivotal moment that will provide learners with education aligned with international standards, preparing them to meet the needs of the industry and contribute to Zambia's digital transformation.

Overall, initiatives like these not only enhance the skills of the workforce but also create opportunities for all Zambians to participate in and benefit from the digital revolution. Through concerted efforts in promoting digital literacy, innovation, and entrepreneurship, Zambia can position itself as a leader in the global digital economy.

 

 

 

 EFC THE FIRST MICROFINANCE INSTITUTION IN ZAMBIA TO BE RATED ‘A’

 

By Daily News Reporter

The Entrepreneurs Financial Center (EFC) has achieved a remarkable milestone by being officially rated 'A' by Premier Rating Services, making it the first Microfinance Institution in Zambia to attain such a prestigious rating. This achievement reflects the dedication and collaborative efforts of EFC's staff members.

Mrs. Hellen Samatebele, Director of EFC Zambia, expressed her gratitude for the rating, emphasizing that it underscores the institution's commitment to strong risk management and governance practices. She highlighted EFC's focus on aligning with best practices beyond mere regulatory compliance, indicating a proactive approach to financial management.

Moreover, Mrs. Samatebele noted that EFC has developed a diverse range of products tailored to meet the needs of various players in the Micro, Small, and Medium Enterprises (MSME) segment. This demonstrates EFC's responsiveness to the evolving needs of the business community and its commitment to supporting MSMEs.

Furthermore, Mrs. Samatebele emphasized EFC's dedication to building capabilities, resilience, and passion for serving the MSME sector, signaling the institution's long-term commitment to fostering economic growth and development.

In light of this achievement, Mrs. Samatebele called upon stakeholders to collaborate with EFC to empower small businesses and positively impact Zambia's economy. This collaborative approach underscores the importance of partnerships in driving sustainable economic growth and fostering entrepreneurship.

On behalf of EFC's Chairperson, Dr. Leo Chimuka Haamukwanza, Mrs. Samatebele conveyed the institution's commitment to continued excellence and innovation in serving the needs of MSMEs.

Additionally, Dionysius Makunka, CEO of Premier Rating Services, commended EFC for its outstanding achievement, highlighting the impartial and professional nature of the rating process. This recognition further validates EFC's commitment to excellence and reinforces its position as a leading Microfinance Institution in Zambia.

Overall, EFC's 'A' rating is a testament to its commitment to excellence, innovation, and responsible financial management, positioning it as a trusted partner for MSMEs and a driver of economic growth in Zambia.

 

UBA WELCOMES SALARY INCREMENT

By Daily News Reporter

UBA Zambia's CEO, Chinedu Obeta, has certainly set a commendable example with the announcement of a 35% salary increment for all employees ahead of Labour Day celebrations. Such a substantial increase reflects not only the bank's appreciation for its workforce but also its commitment to equitable reward practices and fostering a supportive workplace environment.

By recognizing the dedication and contributions of its staff, UBA Zambia underscores the importance of valuing employees as key stakeholders in the bank's success. Mr. Obeta's emphasis on hard work and dedication as crucial elements in the bank's growth resonates with the ethos of recognizing and rewarding merit.

Moreover, the announcement of promotions for 47 staff members across various departments further highlights UBA Zambia's commitment to nurturing talent and ensuring professional growth opportunities within the organization. This approach not only motivates employees but also strengthens the bank's internal capabilities and expertise.

Mr. Obeta's message of reflection on Labour Day and acknowledgment of workers' contributions worldwide reinforces the bank's commitment to creating a supportive and rewarding workplace environment. Such sentiments resonate deeply, especially in times when the global workforce faces various challenges and uncertainties.

UBA Zambia's achievements in recent years are indeed a testament to the collective efforts of its employees and the bank's vision of being Africa's global bank and partner. Through initiatives like salary increments, promotions, and fostering a positive work culture, UBA Zambia continues to demonstrate its commitment to excellence and employee well-being.

 

 

 

They is need to fight corruption through whistle blowing system initiative- Habeenzu, 

By Daily News Reporter

It's fantastic to see Zambia's commitment to tackling corruption through innovative means like the whistle-blowing hackathon. The Ministry of Technology and Science, led by Dr. Brilliant Habeenzu, has shown great initiative in fostering local solutions to national challenges. The dedication of participants from various sectors, including IT enthusiasts, students, and corporate entities, underscores the importance of collaborative efforts in advancing technology for social and economic progress.

The winners, Musekiwa Moyo, Davies Ikowa, and O'Brian Shinandu, deserve commendation for their outstanding contributions. Their prototypes of a whistle-blowing system reflect not only their technical prowess but also their commitment to promoting transparency and accountability in Zambia. The prize presentation ceremony held at the Mulungushi International Conference Centre in Lusaka must have been an inspiring moment, highlighting the potential of local innovation to drive positive change.

The involvement of organizations like the ICTAZ, under the leadership of CEO and Registrar Chellah Silavwe and President Dr. Clement Sinyangwe, is crucial in nurturing talent and promoting innovation within the information technology sector. By hosting regular hackathons and providing platforms for collaboration, the association plays a vital role in fostering a vibrant tech ecosystem in Zambia.

It's heartening to see initiatives like the whistle-blowing hackathon gaining momentum and contributing to Zambia's journey towards a digital economy. With continued support from both the government and private sector stakeholders, Zambia is indeed headed in the right direction in harnessing technology for development and combating corruption.

 

32,000 adolescent births in the Eastern province

By Daily News Reporter

The situation in Eastern Province, as highlighted by Provincial Health Director Mathews Ng’ambi, underscores the significant challenge of teenage pregnancies and HIV infections among adolescents. Despite concerted efforts, the high numbers remain a cause for concern, especially when compared to other provinces in Zambia. Dr. Ng’ambi's worry reflects the gravity of the situation and the urgency for action.

 

The statistics from 2023 paint a stark picture, with 93,000 new HIV infections, including a concerning number directly impacting adolescents. It's commendable that the Ministry of Health is actively engaging with various stakeholders, including local chiefs, to ensure that pregnant teenagers receive essential services. Their recognition of adolescents' health as pivotal to the country's future is crucial, underlining the importance of prioritizing their well-being.

 

Dr. Ng’ambi's mention of existing programs catering to adolescents in districts indicates ongoing efforts to address these issues at the grassroots level. The emphasis on data-driven insights highlights the necessity of informed decision-making and resource allocation. By leveraging data effectively, policymakers can better understand the underlying causes and tailor interventions to effectively combat teenage pregnancies and HIV infections among adolescents in Eastern Province.

 

It's clear that a multi-faceted approach involving collaboration, targeted programs, and data-driven strategies is essential to address these intertwined health challenges and ensure a healthier future for Zambia's youth.

 

THEY IS NEED TO INVEST IN CHILD EDUCATION

By Daily News Reporter

Despite having progressive laws and policies that protect children from different forms of violence, Zambia is still experiencing challenges to ensure a protective environment. Violence against children remains a major concern and a daily reality for many children in Zambia.

According to the Violence Against Children Study (2014). About 41 per cent of girls and 49 per cent of boys report having experienced or witnessed physical violence at household level and about 65 per cent of children indicate they have been bullied in school.

Moreover, child marriage continues to have high prevalence with 29 per cent of girls and 2.8 per cent of boys married by age 18. Teenage pregnancy has remained stagnant at 29 per cent. There are also challenges with data availability and accessibility, coordination, and fragmentation of service provision.

 

”There is a need to accelerate the implementation of the Children’s Code Act to better coordinate the efforts, and to invest more in integrated child protection services which involve many sectors (social welfare, child protection, education, health, home affairs, labour, tourism and justice)  at central, provincial and district levels,” (The Special Representative of the Secretary-General (SRSG) on Violence Against Children, Dr. Najat Maalla M’jid,)

 

Children, who represent about 53 per cent of the population, cannot be seen as a problem to solve, but as an asset to invest in. And they must be part of the solution to end Violence Against Children. “

 Tobacco use among school-going children

By Daily News Reporter

Tobacco use among school-going children is a significant public health concern with potential long-term consequences. Here are some key points to consider:

Initiation and Risk Factors: Many young people start experimenting with tobacco during their school years due to various factors, including peer pressure, curiosity, exposure to tobacco advertising, and the influence of family members who smoke. Adolescents are particularly vulnerable to tobacco initiation due to developmental factors such as a desire for independence and risk-taking behavior.

Health Risks: Tobacco use, including smoking and smokeless forms such as chewing tobacco, poses serious health risks to young people. It increases the risk of numerous health problems, including respiratory issues, cardiovascular diseases, cancer, and addiction. Additionally, early initiation of tobacco use during adolescence can lead to lifelong nicotine dependence. 

Impact on Education: Tobacco use among school-going children can negatively impact their academic performance and overall well-being. Smoking and nicotine addiction can lead to decreased concentration, cognitive impairment, absenteeism from school due to illness, and disruptions in learning. 

Prevention and Intervention: Efforts to prevent tobacco use among school-going children are essential. Comprehensive tobacco control measures include implementing policies to restrict tobacco advertising and marketing aimed at youth, enforcing age restrictions for tobacco sales, implementing smoke-free policies in schools and public spaces, and providing education and cessation programs targeting adolescents. 

Education and Awareness: School-based education programs play a critical role in preventing tobacco use among children. These programs should provide accurate information about the risks of tobacco use, develop skills to resist peer pressure, and promote healthy behaviors. Peer-led initiatives and interactive approaches can be effective in engaging students and fostering positive attitudes toward tobacco-free living. 

Parental Involvement: Parents and caregivers also have a significant role to play in preventing tobacco use among children. Open communication about the risks of tobacco, setting a positive example by being tobacco-free, and creating a supportive home environment can help discourage tobacco experimentation and use among young people. 

Community Support: Community-based initiatives involving schools, healthcare providers, youth organizations, local governments, and other stakeholders are essential for creating environments that support tobacco-free lifestyles among children and adolescents. 

Addressing tobacco use among school-going children requires a comprehensive approach that involves multiple stakeholders working together to create supportive environments, provide education and resources, and implement effective policies and interventions to prevent tobacco initiation and promote cessation among young people.

 

BOZ CLEARS THE MISUNDERSTANDING OF INVESTRUST’S POSSESSION  

 

By Daily News Reporter

Bank of Zambia -BoZ- Governor Denny Kalyalya has said Investrust Bank was on 2^nd of April 2024 possessed because the institution's assets are not enough to meet its liabilities and was due to lose of capital.

Speaking during a Press Briefing in Lusaka, Dr. Denny Kalyalya said the first payment to depositors at the Investrust Bank in Possession, will be made on April 26, 2024.

Government has provided K1bn fiscal support to attend to Investrust Bank in possession.

He stated that the first payment will represent 90% of all deposits from about 57,000 deposit accounts.

He says the maximum payment to be made on each account in the first round will be about K500, 000.

The Central Bank Governor adds that the speed at which payments will be made will depend on how quick depositors share information with the Bank of Zambia to facilitate payments.

He further added that Bank of Zambia will in the next 6-weeks present the financial statement of affairs to fully understand the financial status of Investrust.

And he also revealed that at the time of possession, ZCCM held 71.4% shares in the Bank, while Bank of Nevis International held 24% shareholding and others held 4.5%.