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.