OPPOSITION MPS WARNED

By Daily News Reporter

Parliamentary Chief Whip Safford Mulusa warned independent and opposition Members of Parliament to desist from issuing media statements on the conduct of the house as it is a breach of parliamentary etiquette.

He noted that recently some independent Members of Parliament held a press briefing, who questioned the impartiality of the Speaker was unfortunate as there is a procedure for them to have their queries handled.

He has also condemned Lumezi Independent Member of Parliament MUNIR ZULU who recently insinuated that members of staff at the National Assembly are from the Zambezi region.

 

 

ZICA TO CONTINUE TO HIGH STANDARD OF ACCOUNTING AND TAXATION PRACTICE

By Daily News Reporter

The Zambia Institute of Chartered Accountants - ZICA Has said that it will continue to promoting high standards of accounting and taxation practice in Zambia.

Speaking during the official opening of ZICA tax updates workshop in Lusaka which aims of providing attendees with the latest information and guidance on tax laws and regulations that affect businesses and the accounting profession, ZICA Chief Executive Officer, Anthony Bwembya said Compliance with tax laws is the cornerstone of good corporate citizenship for businesses and unwavering patriotism for a professional accountant.

Bwembya said ZICA recognises this crucial role that accountants and the business community play in the tax value chain adding that tax collection process is incomplete without accountants and as such, ZICA will always endeavour to keep its members abreast of the latest developments in tax legislation. "This is the reason why tax workshops will continue to be an annual feature on the institute's CPD calendar."

Bwembya said the workshop was designed to be interactive and fit-for-purpose, aimed at achieving dual objectives of raising tax compliance and maintaining professional knowledge and skill at the required level.

"Our nation is confronted with many constraints hampering our attempts to increase tax revenue. The high proportion of the informal sector, coupled with high levels of debt and the structure of the economy, have a severe bearing on the domestic tax effort." He said.

“Through this ZICA workshop is to provide a platform where businesses and accountants can learn and interact directly with policy setters, policy enforcers, and tax experts." Said Bwembya.

The event featured resource persons and facilitators from EY, KPMG, PwC, ZRA, BOZ, Ministry of Finance and Ministry of Justice, who are experts in their respective fields and shared their expertise with attendees, and provided a platform for businesses and accountants to learn and interact directly with policymakers, policy enforcers, and tax experts.

 

REA APPROVES K594 MILLION BUDGET FOR RURAL ELECTRIFICATION PROJECTS IN 2024

By Daily News Reporter

The Rural Electrification Authority -REA- Board of Directors has approved a K594, 214,177 budget for the implementation of rural electrification projects across the 10 provinces of Zambia. 

Speaking to the Media in Lusaka, REA Chief Executive Office Linus Chanda said with this budget, the authority will undertake 48 new grid development projects, 8 new off-grid renewable energy projects in 2024 and will complete 64 grid development projects which commenced in 2023.

Engineer Chanda further said that the new off grid renewable projects that REA which will undertake include solar for health project, solar for agriculture, solar for markets, solar for chief’s palaces, solar for households, biogas digesters, solar mini grid network at Ntatumbila in Nakonde district and expansion of the grid at the 640kw Kasanjiku Mini-Hydro Power plant in Mwinilunga district.

He has revealed that cumulatively, all projects to be undertaken by the authority will yield into 28,389 households, 252 schools, 206 rural health centers, 57 markets, 115 chiefs’ palaces and 39 other public facilities that include local courts, police stations, immigration offices, agriculture camps, and national assembly offices.

 

 

 

ZCSA DISTROYS NON-COMPLIANT PRODUCTS WORTH OF K 903, 930

 

By Daily News Reporter

The Zambia Compulsory Standards Agency (ZCSA) has disposed non-compliant products valued at K903, 930.

During a tour in Lusaka ZCSA’s Head of Communications Brian Hatyoka, stated that the agency confiscated products including sockets, adaptors, Top Plugs, shoe polish, rubber condoms, incandescent bulbs, electric cables, gear oil, and used undergarments, were all destroyed.

Other items were food and beverage items such as clear beer, biscuits, peanut butter, edible oil, opaque beer, mealie meal, jams, marmalades, wheat flour, animal feed, bottled water, and fruit-flavored drinks met the same fate.

He said that act is against the guidelines outlined in the Compulsory Standards Act No. 3 of 2017, enabling ZCSA to protect public safety, health, and the environment.

He warned manufacturers, importers, and suppliers involved in non-compliant products of strict repercussions, highlighting risks to consumers and the environment.

He also added that the agency will maintain to be active in all the 10 provinces of Zambia and will continue to operate under the mandate of the Compulsory Standards Act No. 3 of 2017 to safeguard public safety, health, consumer interests, and environmental protection

 

LCC REVOKES 31 LIQUOR LICENCES IN MUNALI AND KABWATA FOR NON-COMPLIANCE

The Lusaka City Council (LCC) has revoked thirty-one liquor licenses due to non-compliance and trading in undesignated areas within Munali and Kabwata constituencies.

LCC Assistant Public Relations Manager Nyambe Bulumba says this action is in accordance with the Liquor Licensing Act No. 20 of 2011, which prohibits trading without a liquor license and trading in undesignated areas such as residential areas and on road frontages among others.

Mr Bulumba said several traders were found operating without a change of land use, while others were selling alcohol in temporary structures, such as car washes.

He said consequently, an assortment of beer was seized from these erring traders.

"Following extensive inspections by the council's Public Health Department, aimed at curbing illegal liquor licences in Munali and Kabwata, the exercise is now being extended to all seven constituencies in the city with the primary goal of restoring order and sanity to the liquor trade," he said.

"Despite repeated warnings, there has been a continued disregard for the Public Health Act Cap 295 and the Liquor Licensing Act No. 20 of 2011, necessitating these inspections."

He said the council will continue with this initiative, and those found flouting the law will face arrests and prosecution, serving as a deterrent to would-be violators.

"Liquor traders are urged to adhere to the legal requirements to avoid inconvenience. Residents are also reminded to refrain from playing loud music, which causes disturbance to others," he indicated.

 

 

SOME TRADERS SELLING DOG MEAT AS GOAT MEAT  

“Consuming dog meat is not part of the Zambian culture, and this indicate a growing trend of people selling dog meat disguised as goat meat………………..

By Daily News Reporter

The Veterinary Association of Zambia has expressed concern over a thriving underground market for Dog meat especially being sold as Goat meat to unsuspecting customers at public drinking places and on open market in Zambia.

Speaking to the media in Lusaka, the VAZ association president Malcolm Chiyoba stated that the absence of deterrent measures, this practice despite being illegal may become widespread if offenders go unpunished.

Dr. Chiyoba said that Dog meat poses a health threat to humans because of the presence of serious zoonotic diseases that are able to be transmitted from animals to humans, exposing them to diseases such as rabies and parasites including roundworms, hookworms and others.

“Consuming dog meat is not part of the Zambian culture, but recent media reports indicate a growing trend of people selling dog meat disguised as goat meat.

He said currently Zambia has a thriving market in bars and open markets of dog meat, following the unregulated sale and slaughter of small livestock like goats and sheep in these places. He has since called for the strengthening of the provisions of the Food safety Act number 7 of 2019 which regulates the manufacture, sale and use of Food in Zambia.

Meanwhile, Lusaka Animal Welfare Society vice chairperson Sheila Oparaocha added that the demand for dog meat across the border in the Democratic Republic of Congo creates a lucrative market which results in illegal, unsafe and cruel handling of dogs in Zambia as investigations have shown that about 100 Dogs are taken across the border every month.

And she further noted about 100 dogs are taken to the Democratic Republic of Congo (DRC) every month through illicit trade to be consumed as meat, an investigation by animal rights groups has revealed.

Dog meat, whose market value is still unknown because the trade is illegal, is said to be on demand across the border in DRC, creating a lucrative market which is fuelling the illegal, unsafe and cruel handling and transportation of dogs within Zambia.

The investigation was done by a consortium of nine animal rights welfare societies in Zambia.

The societies are Lusaka Animal Welfare, Cactus Foundation, Kalumbila Animal Rescue, Kitwe Animal Welfare and Ndola Society for the Prevention of Cruelty to Animals.

Others are the African Animal Rescue Center, the Ark Angel Animal Sanctuary, University of Zambia Vet Students Welfare Committee, and Zambezi Animal Welfare Services.

 

 

 

MONETARY POLICY RATE INCREASES

The Zambian economy is heating up spurred by increasing inflation, runaway exchange rate and unresolved public debt, prompting the Central Bank to turn to fiscal safety catches to keep the country afloat amid uncertainties.

The runaway inflation-averaging 12 percent, twice the projected 6-8 percent band trending over the past months, low foreign exchange intake induced by low exports of commodities including copper threatens to induce financial instability and derail growth trajectory of between 2-4 percent in the aftermath of the COVID 19.

Monetary policy strategies include revising interest to 12.5 percent (150 basis points) from an initial 11.0 percent posted in the third quarter of last year, notes the need to take up various fiscal interventions to save the economy from further ‘damaging effects’.

The Central Bank says the action to review the policy rate was to stir back the skyrocketing inflationary rate to within admissible levels, having been projected to remain in the single digit band to help monitor inflation which has been spurred by among other factors, global factors.

The depreciation of the local currency, the Kwacha against major currencies as well as elevated food (maize and maize products) and energy (fuel) prices continued to push inflation up in the fourth quarter of 2023.

According to Central Bank’s report, inflation rose to an average of 12.9 percent from 11.0 percent in the third quarter of 2023. Inflationary pressures had continued in January, with annual inflation rising to 13.2 percent from 13.1 percent in December 2023.The monetary policy rate has increased by 150 basis points to 12.5 percent from 11 percent in the previous quarter.

Announcing the increase, Bank of Zambia Governor Denny Kalyalya explained that the decision by the Monetary Policy Committee was caused by a further increase in inflation rate in the fourth quarter of 2023.

Dr Kalyalya disclosed that inflationary pressures continued in January 2024 with annual inflation rising to 13.2 percent from 13.1 percent in December 2023.

Dr Kalyalya noted the consistent depreciation of the kwacha against major currencies, having a huge bearing on the country's inflation rate, including elevated food and energy prices.

The Governor explained that the increase in policy rate is aimed at steering inflation to the target band between six to eight percent and help anchor inflation expectations.

He however expressed optimism by the continued fiscal consolidation efforts, progress on the external debt restructuring and improved prospects of increased investment in key sectors of the economy.

"Growth prospects are more optimistic over the medium term relative to November projection. This mainly reflects projected recovery in mining, agriculture as well as wholesale and retail sectors," Dr Kalyalya stated.

He stated the Central Bank's commitment in collaboration with various stakeholders to go an extra mile to control the status for macro stability in the country.

He further noted that  the constraints on supply of foreign exchange that is currently happening when there is high demand in the country.

The Central Bank Governor said that this is putting pressure on the limited supply of foreign exchange.

He said the country needs more foreign exchange and a reduction on imports, especially those that can be made locally to stabilise the financial system, leading to economic growth.