“Peace of Mind in Uncertain Times: Why Insurance Matters More Than Ever”

By Daily News Reporter

In the course of our lives, we only realise the importance of insurance when we experience life-changing events, which result in unplanned expenses.

However, despite the uncertainties and risks faced, few people try to save money or adequately prepare for these eventualities, causing pressure and stress on household finances, and often leading to poor choices in financial services to cope with these events.

When you have worked hard for everything you own, you need to ensure your property is protected if anything bad happens. Accidents, property damage or even death can occur at any time. If you have not prepared for uncertainties and risks, you will end up with unnecessary financial woes.

Having an insurance policy brings peace of mind, and greater financial confidence, knowing risks you may face can be dealt with without putting a strain on your finances. Buying insurance means you are transferring the cost of a potential loss you might incur to the insurance company by paying a premium – a regular amount of money put aside to pay for unforeseen circumstances,

Despite having more than 30 licensed insurance companies, the country’s insurance sector contributes under five per cent to Gross Domestic Product. And most citizens have no form of insurance cover.

The insurance industry remains one of the most underdeveloped sectors in the country. Most of the population remains uninsured. This perhaps shocking statistic is despite an 18 percent growth in investment income and a 2 percent increase in the number of insurance policies in place in the first quarter of 2018, compared to last year.

Regardless of its low penetration, the insurance sector plays a vital role in the financial wellbeing of many people, helping provide financial security when needed most.

One of the primary ways the insurance sector helps economic development is through risk management for investors. When an investor invests in a certain area, they will try to weigh the potential profits against the risk of failure.

Increased insurance coverage – in terms of a greater number of insurance policies being taken out by people and companies - will not only improve the sector’s ratio to the country’s GDP, but also provide more affordable sources of funds for insurance providers to improve access to better, more affordable insurance packages for citizens.

INSURANCE Companies seeks to support private sector growth by promoting financial inclusion - not only through affordable lending but by also ensuring there is adequate insurance protection cover against the risk of defaulting on payments for Personal Loan Plans due to any unforeseen events.

When planning future finances, preparing for unforeseen events is very important. However, good planning only happens when people are assisted in their planning via wide availability of attractive insurance products from the sector and other financial institutions.

We must work towards increasing the insurance spending ratio through the improvement of insurance products and services in the country. Increased access to insurance generates more affordable sources of funds for insurance companies - and the benefit can then be passed on to the customers who find themselves at the mercy of an insurance claim.

The number of people accessing insurance services must go up - because this is the money that insurance providers use to pay insurance claims and give people their lives back. This is also the money that individuals can use to prepare for key life events, which would make life much easier for them. So, people should be encouraged and given incentives to insure.

To make this happen, insurance companies should design products that encourage people to insure their assets and gain access to resources for uncertainties and risks.

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 “World Savings Day Spotlight: Zambia Honors Financial Literacy Leaders”

By Daily News reporter

Lusaka’s financial community gathered in anticipation and pride as the Financial Literacy Awards Ceremony unfolded. Hosted under the auspices of the Bank of Zambia (BOZ) Insurance Association of Zambia (IAZ) and Pensions and insurance Authority (PIA) the event was graced by the presence of Governor Dr. Denny Kalyalya, who emphasized the critical role of financial education in shaping a resilient economy.

This year's theme “It's not just a saving, it's your life,” is a reminder that saving is more than just a figure in your account: it is a tool for financial freedom and resilience. Simply put, your savings are your first line of defense, creating a safety net for life's unexpected moments.

Speaking the award ceremony in Lusaka Bank of Zambia Governor Dr. Denny Kalyalya stated “This award is a testament to our continued commitment to fostering the growth of the pensions industry, promoting financial literacy, and encouraging a culture of saving and financial inclusion across Zambia”

He further said that It inspires financial institutions to keep innovating and to design impactful engagements that benefit pension fund members and citizens at large — empowering them to achieve meaningful retirement outcomes and a more secure tomorrow.

And Pensions and insurances Authority (PIA) Registrar & CEO, Ms  Namakau Ntini also added that the awards, held as part of World Savings Day 2025, recognized institutions that have gone beyond traditional business practices to champion financial literacy among Zambians.

Ms Ntini also highlighted this year's theme “It's not just a saving, it's your life,” that is a reminder that saving is more than just a figure in our account: it is a tool for financial freedom and resilience. Simply put, our savings are our first line of defense, creating a safety net for life's unexpected moments.

“The ceremony is not just about accolades—it is a testament to the growing movement that places knowledge at the heart of financial empowerment.” Ntini said.

Representatives from the winning institutions echoed a common theme: collaboration. They stressed that financial literacy is most effective when insurers, banks, schools, and communities work together. Campaigns during Insurance Week and innovative programs across Zambia have already begun to shift mindsets, encouraging citizens to embrace savings and responsible financial habits.

The Financial Literacy Awards Ceremony was more than a celebration—it was a call to action. With Zambia’s youth forming the majority of the population, the need for accessible, engaging, and practical financial education has never been greater.

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 Zambia Launches Media Initiative on School Health to Strengthen Public Awareness

By Daily News Reporter

The Ministry of Information and Media has officially launched the Media Initiative on School Health (MISH) Strategic Plan, a transformative effort aimed at elevating the quality and impact of journalism focused on health and education in Zambia.

The launch, held in Lusaka, marks a significant milestone in the country’s commitment to fostering informed public discourse and enhancing national development through accurate and transparent communication.

Speaking on behalf of the Minister of Information and Media, Hon. Cornelius Mweetwa MP, Director of Human Resource and Administration Mr. Bernard Domingo emphasized the government’s recognition of the media’s vital role in shaping public understanding and trust.

The MISH Strategic Plan is designed to improve the flow of reliable information from key institutions, particularly in the health and education sectors. By empowering journalists and media platforms to deliver factual reporting, the initiative aims to cultivate a more informed, healthier, and actively engaged citizenry.

Stakeholders from across the media, education, and health sectors have welcomed the plan, noting its potential to strengthen collaboration and ensure that critical public messages reach communities effectively.

 ZAMPOST Launches BuyZambezi, Zambia’s First National E-Commerce Platform

By Daily News Reporter

The Zambia Postal Services Corporation (ZAMPOST) has officially launched BuyZambezi, the country’s first national e-commerce platform, marking a major milestone in Zambia’s digital transformation and support for local enterprise.

The launch event, held in Lusaka, was officiated by the Minister of Technology and Science, Hon. Felix Mutati, who praised the initiative as a breakthrough for small and medium-sized enterprises (SMEs) and traders seeking to access online markets.

BuyZambezi is designed to provide a secure, user-friendly digital space where Zambian entrepreneurs can showcase and sell their products and services. The platform aims to bridge the gap between sellers and buyers, offering a convenient and reliable marketplace that supports economic development.

The development of BuyZambezi is led by Thamani Technologies and Systems, with the group CEO Dr. Cleopas Sanangura highlighting the platform’s potential to revolutionize commerce in Zambia.

The platform is now live and accessible to the public, featuring a wide range of locally made goods and services. It is expected to play a key role in boosting Zambia’s e-commerce ecosystem and expanding opportunities for entrepreneurs across the country.

(picture by MCKAZIWEMEDIA HOUSE)

 

Zambia Boosts Agricultural and Industrial Capacity with New Urea Facility

 

By Daily News Reporter

In a landmark moment for Zambia’s industrial and agricultural future, President Hakainde Hichilema officially commissioned the country’s largest Urea Plant and the Wonderful Group of Companies Industrial Park recently in Lusaka Province — a bold stride toward energy security, job creation, and self-sufficiency.

The newly launched Urea Plant, with a staggering production capacity of 300,000 metric tones per year, now stands as the largest of its kind in Southern Africa. Beyond urea, the facility will manufacture industrial products such as explosives and acids, vital to the mining sector. This strategic move is expected to reduce Zambia’s dependency on imports and strengthen local supply chains.

Speaking during the commissioning ceremony, President Hichilema hailed the development as a “major leap towards energy security, industrial growth, and agricultural self-sufficiency,” emphasizing its potential to boost national revenue and create thousands of jobs.

In a visionary partnership, United Capital Fertilizers (UCF) has teamed up with the Copperbelt University (CBU) to train chemical engineers, ensuring that the plant’s operations are not only efficient but also driven by homegrown talent.

"This is the type of investment we need,” said President Hichilema, “one that integrates education, skills development, and industrial growth.”

And UCF Board Chairperson Mr. Chance Kabaghe announced plans to build a ZMW 35 million secondary school complete with staff housing — a testament to the company’s commitment to community development and human capital investment.

The commissioning also included an 85-Megawatt Thermal Power Plant, now connected to the national grid. This facility will power UCF’s operations and neighboring industries within the industrial park, contributing to Zambia’s energy stability and industrial resilience.

“Beacon of hope” for farmers. With 5,600 farmers already receiving inputs under the Farmer Input Support Programme (FISP), the plant’s output is expected to drastically reduce reliance on costly imported fertilizers.

The Wonderful Group Industrial Park is poised to become a nucleus of manufacturing, including electric battery production — positioning Zambia as a rising star in regional industrial diversification.

And the company will upscale NPK fertilizer production from 300,000 to 800,000 metric tones per year, while the newly launched Urea Plant has created over 3,400 direct jobs and 2,500 additional opportunities across various skill levels.

This commissioning marks more than just the opening of a plant — it signals the dawn of a new era for Zambia, where industrial ambition meets educational empowerment and agricultural transformation.

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Digital Government Africa Summit 2025 Highlights Importance of Digital Transformation

By Daily News Reporter (Day 2)

Lusaka, Zambia - The Digital Government Africa Summit 2025 has emphasized the crucial role of digital transformation in driving development and improving governance in Africa. The summit brought together government officials, industry leaders, and experts from different countries to discuss the latest trends and innovations in digital governance.

Speaking on the Second Day of the summit Ministry of Home Affairs and internal Security Zambia Minister Jack Mwiimbu stated that  Developing robust digital infrastructure is essential for driving economic growth and improving digital governance.

He also urged the delegations that they is need for  Collaboration between governments, industry, and academia is crucial for driving innovation and digital transformation.

And Ensuring that digital transformation benefits all citizens, particularly vulnerable populations, is essential for sustainable development.

Quoting the President's opening remarks "Digital transformation is not just about technology; it's about transforming the way governments work and interact with citizens." - President Hakainde Hichilema

And Mr Mwiimbu add that they is need to harness the power of digital technologies to drive economic growth, improve governance, and enhance the lives of our citizens." Mwiimbu added.

During on the second day these are the outcomes picked,

1.  Developing secure and efficient digital identity systems to enhance citizen services.

2.  Building robust infrastruccture and digital governance.

3.  Ensuring the security and integrity of digital systems.

The summit's outcomes are expected to contribute to accelerated digital transformation and improved governance in Africa.

DGA Kicks Off in LUSAKA 

 By Daily News Reporter (Day 1)

 The Digital Government Africa Summit 2025 is currently underway in Lusaka, Zambia, from October 7 to 9, 2025. The summit aims to drive digital transformation across Africa's public sector, focusing on citizen-centric digital services.

The summit will forcus through Digital Identity and Verification, Developing secure and efficient digital identity systems to enhance citizen services , E-Government Infrastructure- Building robust infrastructure for effective digital governance and Cybersecurity and Data Protection*: Ensuring the security and integrity of digital systems.

During the official opening ceremony President Hakainde Hichilema emphasized the importance of digitalization in the movement of goods across borders, stating;

 "We need to use digitalisation in the movement of goods across our borders. We should have non-border posts… that can be achieved through technology." 

The summit provides a platform for knowledge sharing, strategic partnerships, and collaboration among stakeholders.