BRRA SHARES ITS IMPORTANCE  

By Daily News Reporter

The Business Regulatory Review Agency (BRRA) Executive Director Mrs. Sharon Sichilongo has highlighted the importance of Business Regulatory Review Agency which is a statutory body under the Ministry of Commerce, Trade and Industry established in accordance with the Business Regulatory Act No. 3 of 2014.

Speaking to Daily News Reporter at a just ended 96^th Agricultural and Commercial Cooperative Society of Zambia under the theme “Creating a Competitive Future," Mrs. Sharon Sichilongo highlighted the importance of private sector collaboration in farming, industry and commerce.

She further stated that the mandate of BRRA is to ensure an efficient, cost-effective and accessible business licensing system.

To fulfil its mandate, the Agency reviews and approves proposed policies and laws that affect business activity to ensure they are legitimate and serve the intended regulatory purpose as well as coordinates development and implementation of appropriate Government-to-Business interventions in order to reduce the regulatory burden on business.

She also added that the importance of the portal as a means to gather input and feedback from the public, with a particular emphasis on the private sector.

The Notice and Comment portal serves as a platform for businesses, including Business Associations, to report on regulatory frameworks that may be burdensome to them or have been introduced without following the due process outlined in the Business Regulatory Act No. 3 of 2014.

“This initiative aims to ensure that the Agency remains vigilant to regulations impacting business activities and that proper procedures are followed in formulation of business regulations,” Sichilongo said.

Mrs. Sichilongo also emphasized the agency's commitment to timely reviewing feedback from the private sector and encouraged businesses to actively use the online portal to provide their input.

BRRA established the Notice and Comment portal to allow the private sector to actively participate in the formulation and implementation of regulations under various legislations.

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 ZCCM-IH PAYS DIVIDEND TO MOFNP

By Daily News Reporter

ZCCM Investments Holdings Plc (ZCCM-IH) has delivered a K41.6 million dividend cheque to the Ministry of Finance and National Planning, for the 2023 financial year. The Ministry holds a 17.4% stake ZCCM-IH on behalf of the Zambian government.   

Speaking during Cheque presentation to the Ministry of Finance and National planning in Lusaka, ZCCM-IH Chief Executive Officer, Dr Ndoba J.Vibetti stated that ZCCM-IH shareholders approved a total of K243 million for the 2023 and out of this k243 million, K146 million went to the IDC, K36.4 million to NAPSA, K41.6m to MoFNP and the balance of K18.3 million to minority shareholders who hold a 7.4% stake in ZCCM-IH. This follows a profit of K4.84 billion recorded at company level for the 2023. 

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He added that for almost a decade, ZCCM-IH has been consistent in paying dividends, and shareholders have received in total more than K1.6 billion.

And Minister of Finance Dr Situmbeko Musokotwane has commended ZCCM-IH for their effort and hard work in keeping the Company on a profitable path.

“We hope to see sustained growth in the Company and much bigger dividends to come in the future considering the bright prospects in the industry. Moving forward, we are hopeful to see ZCCM-IH’s increased participation in the mining sector in other strategic and critical minerals.” Musokotwane said.

He further urged State-Owned Enterprises that are facing profitability challenges to emulate the performance of ZCCM-IH by being more creative and working hard at turning around their institutions to sustained viability and profitability.

Government is commitment to continue providing a conducive environment for better performance of State-Owned Enterprises, through right policies.

For the past ten (10) years the ministry of finance has received K283 million from the Group.He added that for almost a decade, ZCCM-IH has been consistent in paying dividends, and shareholders have received in total more than K1.6 billion.

And Minister of Finance Dr Situmbeko Musokotwane has commended ZCCM-IH for their effort and hard work in keeping the Company on a profitable path.

“We hope to see sustained growth in the Company and much bigger dividends to come in the future considering the bright prospects in the industry. Moving forward, we are hopeful to see ZCCM-IH’s increased participation in the mining sector in other strategic and critical minerals.” Musokotwane said.

He further urged State-Owned Enterprises that are facing profitability challenges to emulate the performance of ZCCM-IH by being more creative and working hard at turning around their institutions to sustained viability and profitability.

Government is commitment to continue providing a conducive environment for better performance of State-Owned Enterprises, through right policies.

For the past ten (10) years the ministry of finance has received K283 million from the Group.

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 ADF GIVES ZAMBIA LOAN OF $13.2MILLION

By Daily News Reporter

More than 460,000 people will soon have access to improved water and sanitation due to a loan of $13.2 million from the African Development Fund

The project is being supported by the European Union, the Bank Group’s strategic partner, with a grant of $6.05 million through their Nexus Energy and Water Programme for Zambia

 The Board of Directors of the African Development Fund granted a loan of $13.2 million to Zambia in Abidjan on 17 July 2024 to implement innovative measures and improve access to drinking water, sanitation and hygiene for 460,000 people in Kabwe and Bauleni. The project also aims to strengthen the resilience of the beneficiary populations to the effects of climate change.

In addition to the funding from the African Development Bank Group’s concessional loans window, the project is being supported by the European Union, the Bank Group’s strategic partner, with a grant of $6.05 million through their Nexus Energy and Water Programme for Zambia, a transformative initiative under the European Union's Global Gateway strategy.

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“The project aims to improve access to better-quality water and sanitation services in the town of Kabwe (in central Zambia) and Bauleni (a district of Lusaka city) and increase the operational and financial efficiency of water and sanitation providers in Lukanga (Centre) and the capital, Lusaka,” explained Raubil Durowoju, the head of the African Development Bank Group’s Country Office in Zambia.

Among other things, the project plans to rehabilitate the Mulungushi water purification plant in Kabwe (abstraction of water from the river, pipework for untreated water, replacement of obsolete treatment and pumping equipment) to relaunch production of 37,500 cubic meters of drinking water per day. It also plans to improve water transport and distribution pipe networks, with an extension of over 70 km, and to build and equip five boreholes in the catchment areas of Kalulu (in the south-west) and Mukobeko (Centre) in Kabwe town. The project will use renewable energy technologies and introduce innovative measures, such as smart meters, to reduce operating costs through the installation of energy efficiency equipment in the water production and supply system.

It will collaborate with partners such as the United Nations Children’s Fund (UNICEF) to strengthen the provision of water, sanitation and hygiene services and also raise awareness around integrated nutrition and hygiene services, climate resilience, waste and water management among at least 10,000 people.

The African Development Bank’s long history in the water sector in Zambia makes the institution a unique partner in supporting the Zambian government’s implementation of the project. The Bank has supported Zambia’s water sector since the late 1970s. Its first intervention, in 1979, was a water and sanitation project in five provincial centres that aimed to improve services in the towns of Choma, Kalomo, Livingstone and Monze in the south of the country. Since then, the Bank has supported a total of 14 projects to improve the long-term security of water supply and sanitation services in Zambia. (Copyrights Reserved)

 ZCCM Investment Holding records a profit of over 4.8 billion Kwacha in 2023.

By Daily News Reporter

This represents a 14 percent increase recorded from 2022 which was at 4.26 billion Kwacha.

ZCCM IH Chief Executive Officer Ndoba Vibetti stated that the company's total assets increased by 20 percent from 48 billion Kwacha to 58.4 billion kwacha driven by the increased value of investments in associates and other current assets.

This marks the 9th consecutive year that ZCCM-IH has paid a dividend to the IDC. Last year, a record dividend of K436 million was paid for the financial year 2021 and 2022. Since 2015, ZCCM-IH has paid approximately K990 million to the IDC.

Under the Zambia Gold Company has commenced remedial works at the Kasenseli gold mine in Mwinilunga, with operations set to begin in the third quarter of this year; Maamba Energy Limited has secured financing for the construction of an additional 300 MW power plant within two years, along with the lithium prospecting licenses it has obtained.

In 2023, ZCCM-IH's profit increased by 14% to K4.84 billion; total assets up by 20% to K58.46 billion.

ZCCM-IH's share price surged by 52.4% on the Lusaka Securities Exchange, from K42 to K64 per share, boosting market capitalization from K6.3 billion to K9.6 billion.

Meanwhile IDC Chief Executive Officer CORNWELL MULEYA praised ZCCM-IH for recording a huge profit which the ZCCM-IH has performed through investment confidence.

And following the ZCCM-IH’s commitment it has also paid out the dividend cheque worth K36 million to NAPSA,

And NAPSA Director General, Mr. Muyangwa Muyangwa, stated that ZCCM-IH has maintained its dividend Consistency Last year it recorded dividend of K108.4million was paid for the financial year 2021 and 2022. Since 2015, ZCCM-IH has paid approximately K263 million to NAPSA.

With a portfolio of over 20 companies, ZCCM-IH's strategic focus is to grow the mining and energy investments and revamp ailing entities to profitability. ZCCM-IH will continue to play its role as a company discharged with the mandate to represent and safeguard Government’s interest in all the big existing mines in Zambia.

So far ZCCM-IH's share price on the LuSE appreciated by 52.4%, from K42 to K64 per share. This share price increase translates into increased value of NAPSA’s stake by 52.4%, a positive thing for NAPSA and the Zambian pensioners.

 

CHINA AND ZAMBIA CELEBRATES LIBERATION ARMY DAY

By Daily News Reporter

Chinese Embassy in Zambia Holds Reception Celebrating the 97th Anniversary of the Founding of the Chinese People's Liberation Army

Wang Sheng, the Chargé d'Affaires of the Chinese Embassy in Zambia, delivered a speech in which he reviewed the glorious history of the People's Liberation Army

On July 24th, the Chinese Embassy in Zambia held a reception, celebrating the 97th anniversary of the founding of the Chinese People's Liberation Army. Over 200 guests attended the event, including Zambia Air Force Commander Lt. Gen. Nyoni, Minister of Lusaka Province Hon. Sheal Mulyata, senior officials from the Ministry of Defense, the Zambian three military services and the police service, members of the diplomatic corps in Zambia, representatives of Chinese enterprises and Chinese community in Zambia.

Wang Sheng, the Chargé d'Affaires of the Chinese Embassy in Zambia, stated that this is a glorious history of the People's Liberation Army under the leadership of the Communist Party of China. He emphasized that the Chinese military has always been a strong force for world peace, highlighted the Three Global Initiatives, put forward by President Xi Jinping, and provided feasible pathways and solid support for building a community with a shared future for mankind.

He reaffirmed that China and Zambia will work together to implement the important consensus reached by the two heads of state and continue to be partners in promoting a high-level community with shared future on their respective path of modernization.

Jiang Lei, the Defense Attaché of the Chinese Embassy in Zambia, said that the Chinese military will continue to fulfill its solemn commitment to safeguarding peace, strengthen cooperation with Zambia in areas such as personnel training, military medicine, and equipment technology, and steadly advance the relationship between the two armed forces to new heights.

 

 

 

United Nations (UN) Tourism Shines a Light on Investment Prospects in Zambia

By Daily News Reporter

UN Tourism has launched a guide on sustainable tourism development in Zambia that identifies key sectors for investment. Titled “Tourism Doing Business—Investing in Zambia,” the guide aims to boost economic growth nationwide.

Zurab Pololikashvili, Secretary General of UN Tourism, stated, “This publication will lead to greater prosperity, job creation, community empowerment, and SME expansion in Zambia. It offers a comprehensive overview of Zambia’s economic, political, and social landscape, highlighting the vast opportunities within Zambia’s tourism industry."

Rodney Simbuka, Minister of Tourism of Zambia, said: "Investment in tourism is pivotal not only for sustainable development, economic growth, job creation but also the preservation of our rich cultural heritage and the conservation of our natural resources creating opportunities for the local communities.”

According to the International Monetary Fund (IMF), Zambia’s economic outlook is promising, with projected growth rates of 4.3% in 2023, 4.7% in 2024, and 4.8% in 2025. Zambia has maintained a steady growth rate of 3.2% over the past decade, demonstrating economic stability that exceeds the Sub-Saharan Africa average of 3.0%.

“Tourism Doing Business—Investing in Zambia,” outlines the opportunities for international investors, emphasizing: 

Zambia’s biodiversity and natural resources make it an attractive destination for investors, with 30% of its land (22.4 million hectares) dedicated to 20 national parks and green spaces.

Zambia shares borders with eight other countries. The location of this landlocked nation, along with its cultural diversity, with more than 70 ethno linguistic groups, are a few of its many merits.

Zambia has been ranked the 7th Best Country to do Business out of 54 African nations and the 1st for Ease of Obtaining Credit in Africa after celebrating 60 years of peace and stability.

Zambia offers attractive investment incentives, with 16 investment promotion and protection agreements currently in place.

 

 Is marketing effected by climate change

By Daily News Reporter

let us look at Consumer Preferences first

As climate concerns grow, consumers are increasingly seeking environmentally friendly products. This shift in demand pushes companies to market sustainable products and practices. Governments are implementing stricter regulations to combat climate change, which affects how companies market their products. Compliance with these regulations often becomes a key selling point.

Companies are focusing on building a green brand image to attract eco-conscious consumers. Marketing strategies now often include highlighting efforts to reduce carbon footprints and promote sustainability.

Marketing teams are involved in developing and promoting products with lower environmental impacts. This includes everything from sourcing sustainable materials to reducing packaging waste.

Marketers need to use their platforms to educate consumers about climate change and the importance of sustainable choices. This involves transparent communication about the environmental impact of products and corporate practices.

Overall, climate change is reshaping the marketing landscape, making sustainability a central theme in many marketing strategies. 

 Make cervical cancer prevention and control a priority-Ayong

By Daily news reporter

The Executive Director of Vital Voices for Africa (VVA) has called on African governments and development partners to make cervical cancer prevention and control a priority, 

Speaking at virtual space, a weekly event hosted by Being Africa Executive Director of Vital Voices for Africa Mr. Caleb Ayong stated that the is a major factor that discourages women from going for screening is the embarrassing fact that they must expose their private parts to a medical practitioner, whom in most cases, is a man.

And according to Medical experts has warned that early stages of cervical cancer have no symptoms, and most cases of the disease are only detected when they are at an advanced stage, where treatment is no longer possible. They therefore recommend regular screening to ensure early detection, when the condition can be completely treated.

In August 2020, the World Health Assembly adopted the Global Strategy for cervical cancer elimination, which aims to have countries reach and maintain an incidence rate of below 4 per 100 000 women by 2030. According to the WHO, achieving that goal rests on three key pillars and their corresponding targets. These targets are include getting 90% of girls fully vaccinated with the HPV vaccine by the age of 15; 70% of women screened using a high-performance test by the age of 35, and again by the age of 45; and 90% of women with pre-cancer treated and 90% of women with invasive cancer managed.

He has further noted that if HPV vaccination, and screening for cervical cancer are prioritised by governments and development partners if Africa, 

"we can effectively meet the WHO global strategy and eliminate the disease in the continent"

He stressed on the need to invest in making less intrusive screening methods more available and affordable so that more women can be comfortable getting screened. There are currently two approved screening methods for cervical cancer which are the commonly used pap smear undertaken by a healthcare professional, and the more expensive but self-applied HPV DNA.

“It is possible to eliminate cervical cancer, but it is not a priority for African governments and perhaps, development partners. I call on governments, international donors and development partners to take it upon themselves to make the eradication of cervical cancer a priority. It can be done, but it is not a priority. That is the problem.” said Caleb. 

“If we invest in making cervical cancer screening more user-friendly, and less intrusive, it could help get many more women screened across the continent. Once we can get more women screened, we will be able to identify cervical cancer at an early stage, and the automatic result is that we will have fewer cases where the disease reaches an advanced, fatal stage.” he added.

Using the example of the Roll Back Malaria initiative where massive investment continues to be made to sensitise populations on malaria prevention and control, and to provide mosquito bed nets to every household,

He has urged the partners and governments to undertake similar investments for cervical cancer eradication in Africa. 

“It is expensive, but the good thing is that it only concerns women. Moreso, women of a certain age. So why not target the age group, invest in these women and get them protected once and for all?” Caleb said.

The WHO states that cervical cancer is the fourth most common cancer in women globally with around 660 000 new cases and around 350 000 deaths in 2022. The highest rates of cervical cancer incidence and mortality are in low- and middle-income countries. This can change if we invest in ensuring that HPV vaccines are available for every girl of vaccination age, the self-applicable and more efficient HPV DNA test is provided at least twice to every sexually active female as recommended by the WHO, and strategies are put in place to ensure effective screening and vaccination.

 Critical Minerals Africa (CMA) to Host Investment Forum Showcasing Opportunities in African Critical Minerals

CMA 2024 will take place under the theme Innovate. Enact. Invest in African Critical Minerals to Sustain Global Growth

By Daily News Reporter

Investment in African critical minerals are on the rise, with global entities acquiring assets, funding upstream projects and developing midstream and logistics facilities. Over the past three years, Zambia  ­– Africa’s second-largest copper producer – has recorded $10 billion in investments in its mining sector. These investments are pushing the country closer to its goal of increasing copper production to one million tons by 2026 and three million tons by 2030, with several new projects coming online. To promote opportunities and drive fresh investment across African markets, the upcoming Critical Minerals Africa Summit will feature a dedicated Investment Forum.

The Critical Minerals Africa 2024 summit on November 6 - 7 serves to position Africa as the primary investment destination for critical minerals. The event is held alongside the African Energy Week: Invest in African Energy 2024 conference on November 4 - 8, offering delegates access to the full scope of energy, mining and finance leaders in Cape Town.

The Investment Forum will delve into investment opportunities across the spectrum of critical minerals and rare earth projects, highlighting how African governments are partnering with global stakeholders to create an enabling environment for market expansion.

Zambia introduced the Mineral Royalty Tax Reform in 2022 – reducing mineral royalty rates for investors – resulting in a surge of fresh investments. In June 2024, mining firm Jubilee Metals Group  acquired two operational copper mines to support efforts to increase activities at its Sable Refinery in Zambia. Canadian mining firm Ivanhoe Mines also announced that is investing in the expansion of a concentrator at the Kipushi Copper Mine, aiming to increase output to 960,000 tons of copper annually by 2030, up from 140,000 tons in 2024. The UAE’s International Resources Holding is providing $300 million to enhance copper production at Mopani Mines, following its acquisition of a 51% stake in a $1.1 billion deal in April 2024. The Investment Forum will showcase lucrative prospects for global investors within Zambia’s copper value chain.

Meanwhile, Zimbabwe  banned the export of raw lithium in 2022 in a bid to attract investments across the midstream sector to value add its lithium output. The regulation aims to help the country account for 20% of global lithium demand, build a $12 billion economy by 2030 and has resulted in an influx in new investments and project launches. Mining revenue  has grown from $3.5 billion in 2020 to $9.77 billion in 2023, as a result. Mining firms including Rwizi Rukuru, Shengxiang Investments, Chengxin Lithium Group, Zhejiang Huayou Cobalt and Sinomine Resource Group have invested in large-scale lithium processing facilities in 2023 and 2024. The Investment Forum will feature stakeholders from Zimbabwe’s critical mineral sector in panel discussions and exclusive networking sessions, highlighting investment opportunities across the mining value chain.

With the global demand for critical minerals set to increase by four times by 2030 – driven by increasing adoption of clean energy technologies – Africa, which holds 30% of the world’s total critical mineral reserves, is well positioned to attract global investors. South Africa holds 80% of the world’s platinum group metals, Morocco 70% of total phosphate, the Democratic Republic of Congo the world’s largest cobalt reserves, Guinea-Conakry the world’s second-largest bauxite reserves, and Gabon the world’s second-largest manganese resources. CMA will spotlight these resources and partnership opportunities available for global stakeholders as African countries unlock their full mineral potential for GDP growth.

“Africa’s critical mineral resources present an opportunity for the continent to forge partnerships on infrastructure development and economic growth with global investors. We hope to see an increase in investments flowing into Africa as global mining stakeholders capitalize on the continent’s vast resources and strategic locations to feed the global demand,” stated Rachelle Kasongo, Project Director at CMA-organizer, Energy Capital & Power.

 Zambia’s First lady Mrs. Mutinta Hichilema with Merck Foundation give AID  

By Daily News Reporter

The First Lady’s office Mutinta Hichilema in partnership with Merck Foundation has donated assorted items such as 6000 exercise books, stationary, 1, 700 school bags and 3,334 story books to Bundabunda Primary School in Musebo village of Chongwe District.

Technical Advisor to the First Lady, Shelly Tayali who represented the Mrs. Mutinta Hichilema  stated that the donation is expected to assist pupils at the school who do not have access to the necessary school materials.

Ms. Tayali’s emphasis on the importance of education for every child resonates deeply. Indeed, education serves as a powerful equalizer, opening doors to better lives and securing brighter futures. Her call to parents in the area to take advantage of the government’s free education policy is commendable. No child should be left behind.

Additionally, Ms. Tayali’s advocacy against child marriages aligns with the broader goal of safeguarding children’s rights. It’s heartening to see community engagement and efforts to address this critical issue. The proposal to dedicate specific days in each school term for advocacy on ending child marriages is a practical step forward.

Mr. Mubita’s appeal to the First Lady to assist girls and boys to demonstrates compassion and a commitment to making a positive impact. Girls and boys who struggle to attend school to give AID and challenges faced by some students. The donation of a new wheelchair by Mrs. Hichilema is a remarkable gesture that directly improves Grace’s access to education.

 

 

 

 

 NETONE TECHNOLOGIES TO TRANSFORM DIGITAL PLATFORM

By Daily news Reporter

Bejoy Nettikadan Executive officer of Netonehas said the institution has made an important first step for the technology space in Zambia as it totally transforms the sector by creating local skills, affordable devices and also opportunities for regional trade,

Recently NETONE Technologies was awarded an award and a certificate by Zambia revenue Authority (ZRA) for Complying ZRA’S regulations.

He stated that the institution is committed to provide innovative solutions and state-of-the-art IT services to its clients.

Nettikadan noted that focus on being customer-centric and tailoring solutions to meet clients’ needs is crucial.

“Having a cross-functional team with local expertise ensures effective collaboration with organizations of varying sizes and industry verticals. And of course, the emphasis on maximizing ROI through technology investments and digital initiatives is essential for business growth.” He added.

Speaking at business meeting in Lusaka Nettikadan stated that ZRA’s Smart Invoice is an electronic billing system implemented by the Zambia Revenue Authority (ZRA).

This software application can be installed on Windows-based desktop computers, laptops, or tablets. It allows users to create, customize, and manage transactions locally on their own devices. Suitable for all taxpayers except those with accounting packages.

Online Smart Invoice accessed through a web browser or online portal, this platform is ideal for service industry taxpayers who issue few invoices.

These systems integrate with Smart Invoice after certification. Suitable for taxpayers with accounting packages or Enterprise Resource Planning (ERP) systems. Integration is achieved through an interface with the Virtual Sales Data Controller (VSDC).