ZACCI -TAU SIGNS MOU SCHOLARSHIPS

 

By Daily News Reporter

 

The Zambia Chamber of Commerce and Industry (ZACCI) has now officially renew its partnership with Texila American University (TAU)-Zambia,

Speaking at the signing ceremony in lusaka ZACCI Mr. Anthony Kabaghe, President of ZACCI, stated that this partnership will focus on innovation and mutual growth between two institutions

 

“This dedication will harness the power of education, innovation and entrepreneurship to drive of positive change,” kabaghe said.

He added that TAU will also enforce the empower and support the corporate members MSMEs through TAU-ZACCI mentorship programs.

 

And Prof (Dr.) Ajay Poddar, the Vice-Chancellor of Texila American University,said that this will signifies a deepened collaboration between ZACCI and Texila American University, offering a range of initiatives including discounted undergraduate and postgraduate programs tailored specifically for Chamber members.

 

He further said TAU will graciously extended scholarships to deserving ZACCI affiliates, fostering their skills and capabilities.

 

“We urge all ZACCI members to access this opportunity and get quality serices for the university through programs, discounted tuition fees, and scholarships,” he added.

 

 

ALL ZUNO MEMBERS TO HAVE 30% DISACCOUNT TO TAU

By Daily News reporter

Texila American University Zambia (TAU) and the Zambia Union of Nurses Organization (ZUNO) signed a Memorandum of Understanding (MOU) to promote collaboration in advancing nursing education and practice in the country.

During the signing ceremony, Professor Ajay Poddar, Vice Chancellor at Texila American University, stated that the role nurses play in healthcare, both in Zambia and across Africa and it promotes health care system in the health sector.

And Prof. Poddar said that the University is committed to bolstering higher education across various sectors, including nursing, alongside Business management and technology.

He further said that through this partnership the University will foster the academic excellence in nursing, through workshops, training programs, and initiatives aimed at elevating standards.

He added that the university advocates for a holistic approach to nursing education, encouraging proficiency in clinical competencies as well as supplementary areas like information technology and communication.

Meanwhile ZUNO President Fray Michelo, said that this partnership is a welcome move by extending discounted education fees to ZUNO members and their families, fostering growth and empowerment within the nursing community.

“The collaboration signifies a significant step towards advancing nursing education and improving healthcare outcomes in Zambia,” he said

He added that ZUNO Members to take advantage for this partnership to increase their access of quality skills in health sector.

This agreement will cover in 11 programs at TAU for all ZUNO Members across the country.

 Standard Chartered Records Steller Growth at Group and Country Level

By Daily News Reporter

Standard Chartered Bank has announced Zambia's financial performance for 2023 which looked bright. The Bank has demonstrated remarkable performance with significant growth in various key metrics, reflecting its commitment to delivering excellence in the banking sector at Group and country level.

Speaking to the media in Lusaka, Standard Chartered Bank Zambia CEO, Sonny Zulu said, “At the Group level, the bank achieved remarkable progress, with operating profit increasing by an impressive 27% compared to the previous year, reaching $5.7 billion. And the income showed a robust growth of 13%, a testament to the bank's sound business strategies. The Return on Tangible Equity (RoTE) at the group level stood at a commendable 10.1%, showcasing sustained efficiency and profitability.”

He further noted that the stellar performance of Standard Chartered Bank Zambia. “Our revenue in Zambia surged to K1, 521 million in 2023 from K1, 195 million in 2022, representing a substantial increase of K326 Million. He said.

The Bank's profit after tax also saw a remarkable uptick to K615 million in 2023, compared to K245 million in the previous year, demonstrating a significant leap in financial performance. The RoTE at the country level stood at an impressive 14.3%, demonstrating the bank's strong financial health and strategic execution,” he stated.

He further highlighted the bank’s achievements, stating, "We are pleased with the exceptional performance witnessed at both the group and country levels. These results underscore our unwavering commitment to delivering value to our stakeholders by achieving sustainable growth and creating lasting impact in the communities we serve."

Mr Zulu also shared exciting updates on the key milestones pertaining to expansion and technological advancements. "We have invested in 23 new Cash Deposit Machines (CDMs), enabling our customers to enjoy convenient and hassle-free banking services. Furthermore, our agent network has grown to 142, with 23% of branch transactions migrating to the agencies from the branch underscoring our commitment to delivering accessible banking services to more customers in underserved areas,” he explained. 

The CEO further stated that the bank’s personal loans grew by an impressive 70% year on year, with over K860 million worth of loans booked, highlighting the bank's strong lending portfolio and commitment to fuelling economic growth.

Under Community Investment, Standard Chartered's Women in Tech programme has seen increased investment of K4million pumped into Cohort 4 of the WIT programme translating into more female winners and women undergoing training. Meanwhile, the Bank's youth programmes continue to be a key component of its community engagement efforts, demonstrating its commitment to nurturing the next generation of leaders and change-makers.

 

 

Airtel Africa and Cisco secure connectivity for businesses in Africa 

By Daily News Reporter

Airtel Africa and Cisco revolutionizes secure connectivity for businesses in Africa with Network-as-a-Service Offering

 Airtel Africa, a leading telecommunications service provider, today announces a ground-breaking expansion of its service portfolio in collaboration with Cisco. The strategic partnership aims to empower businesses to seamlessly embark on their digital transformation journey by offering Network-as-a-Service (NaaS) solutions across various service platforms.

In today’s fast-paced digital landscape, Airtel Africa recognizes the growing need for businesses to accelerate their operations without the additional task of building or managing network infrastructure.

The NaaS offerings include an array of services such as enhanced security, surveillance, connectivity, and cloud solutions, all delivered through a secure cloud platform.

Network-as-a-Service (NaaS) represents a paradigm shift in how organizations consume network infrastructure, allowing users to operate networks efficiently without the need to own, build, or maintain physical infrastructure. This innovative approach reduces the challenges associated with traditional network models, including capital expenses, manual service provisioning, and lengthy issue resolution processes.

Airtel Africa’s NaaS offerings, powered by Cisco’s cutting-edge Catalyst and Meraki cloud- ased platforms, promise to revolutionize connectivity for businesses of all sizes. The solutions are designed to replace hardware-centric VPNs, load balancers, firewall appliances, and Multiprotocol Label Switching (MPLS) connections. With the flexibility to scale up or down based on demand, rapid service deployment, and reduction of hardware costs, Airtel Africa and Cisco are reshaping the future of business connectivity.

As Africa transitions digitally, businesses will require a fusion of connectivity, mobility, security, and cloud into a service offering for every business irrespective of geographical spread or operational needs, remarked Oliver Fortuin, CEO of Airtel Business Africa. Airtel Africa NaaS also allows a managed service option, enabling Airtel Africa to fully manage the daily operational requirements of supporting such infrastructure as growth accelerates.

 The NaaS offerings will be accessible to all business customers, including small businesses, as well as global customers with operations worldwide. Airtel Africa and Cisco Systems are committed to facilitating a smooth digital transition for businesses, providing them with the tools they need to thrive in an increasingly connected world.

“At Cisco, we believe that every organization would benefit from simplifying powerful technology,” said

Vish Iyer, President, Service Provider, Asia Pacific and Japan, Cisco. “Together with Airtel Africa, we are reducing networking complexities and securely connecting the world through Network-as-a- Service. This innovative approach is a great option for businesses wanting to shift to a cloud operating model without a heavy lift. Our partnership with Airtel Africa marks a pivotal moment as we pledge to deliver the majority of our cutting-edge technology portfolio to businesses across the continent in the most simplified, flexible manner imaginable: cloud-driven, cloud-delivered, cloud- managed, offered as-a-service, and, above all, fortified with unparalleled security.

 

ZMA TO REPLACE NEW TINS COMMONLY REFERRED TO AS MEDAS

 

By Daily News Reporter

 

The Zambia Metrology Agency -ZMA- says it will make standardised measuring tins mandatory.

ZMA Executive Director Humphrey Nkobeni has said that all standardized measuring containers will gradually replace the makeshift tins commonly referred to as medas in the markets and other tins that are not authorized.

He said this after a successful pilot project that was carried out as tins were distributed to selected markets across the country for those trading in beans, rice and kapenta.

He further said that the agency will first engage local manufacturers to produce the proposed measuring tins at a large scale in order for all traders to be able to have access to them

 

 

Monetary Policy Report LAUNCHED

 (PICTURES BY BOZ)

By Daily News Reporter

 

THE Bank of Zambia launched its first publication of the Monetary Policy Report (MPR) that is expected to enhance transparency, accountability, communication and interactions on monetary policy matters.

The MPR is a product of the newly constituted Monetary Policy Committee (MPC) which was established by statute, thus making it the first time in the history of the Bank to have a statutory MPC.

Bank of Zambia Governor Denny Kalyalya disclosed at the launch of the report in Lusaka, that previously the bank had been publishing the MPR only for internal use but that the new BOZ Act of 2022 requires that the bank publishes it for the public to promote accountability and transparency.

Dr. Kalyalya emphasized the importance of the report which reviews macroeconomic development and gives prospects for inflation over the months ahead.

Dr. Kalyalya explained that the monetary policy committee raised the policy rate by 150 basis points to 12.5 percent to steer inflation towards the 6-8 percent target band and thus help anchor inflation expectations.

He said the decision to raise the policy rate was arrived at after judging from the inflationary pressure which had persisted and inflation was projected to remain above the target band during the forecast period.

Dr. Kalyalya also indicated that inflation is projected to average 12.5 percent in 2024 and then slowdown to 9.9 percent in 2025.

Various stakeholders who attended the launch of the Report called on the people of Zambia to have a change of mindset in order to achieve development.

 

 

COMMUNITY-BASED ADAPTATION GENDER-RSPONSIVE ACTION LAUNCHED

 

By Daily News Reporter

CARE International Zambia and its program partners have launched a BMUV-IKI funded project: Community Based Adaptation: Scaling up Community Action for Livelihoods and Ecosystems in Southern Africa and Beyond (CBA-SCALE+) in Lusaka.

 

And this is a multi-country and multi-year project covering Zambia, Zimbabwe, and Mozambique; and it is being implemented by a consortium of 4 partners.

 

The overall objective of the CBA-SCALE+ is to build community resilience to climate change while protecting ecosystems and biodiversity and it will be implemented in all the 12 wards of Zimba District, Southern Province of Zambia.

 

The specific objectives are as follows:

• To strengthen the planning and implementation of inclusive, gender-responsive and nature-based community-based adaptation (CBA) actions.

• To create an enabling environment for implementation of community-based adaptation (CBA) actions.

• To capture learning with the goal of driving increased support for and replication of inclusive, gender-responsive and nature-based CBA.

 

Speaking during at the launch Ministry of Green Economy and Environment Dr Dought Chibamba stated that this project aims to empower local people, especially women and girls, to take ownership of their futures, to innovate, and to adapt in the face of adversity.  

“By scaling these community actions, we not only build resilience of the people in Zimba district and Southern Province but also create ripples of positive change that resonate across all other districts,” Chibamba said.  

He also said that the government under the Ministry of Green Economy and Environment, it will try out the policies and guidelines on the ground such as the National Adaptation Policy as this will help to identify what is working and what is not and will greatly inform and contribute towards policy review and strengthening at all levels of governance.

“This will also greatly enhance efforts to scale community actions for livelihoods and ecosystems in all corners of this country and beyond Southern Africa,” Chibamba said.   

And CARE International Zambia Country Director Chikwe Mbweeda said that this project is very crucial and strategic as it comes at a time when climate change is reaching alarming levels in our country and is deeply disrupting livelihoods and the ecosystem.

“The project will therefore go a long way in contributing towards our desire to see a society that is free from poverty among the communities in Zimba district of this country,” she said.   

She added that CBA SCALE+ project it will provide a great opportunity to leverage the tested approaches such as the Farmer Field Business School, Village Savings and Loans Associations, Social Analysis and Actions.

“The design of the project also integrates our pillars of locally led, gender equal and globally scale and I am confident that this alignment to our strategy will help the project to deliver gender-equitable impact in the lives of women and girls and for the majority of those affected by climate change,” Mbweeda said. 

 

She urged all partners to have a collective responsibility to promote a sustainable world for all.

“Let us leverage our collective expertise, resources, and networks to make a meaningful difference in the lives of those most affected by climate change, especially women and girls,” she said.