India and Africa have set a target to take two-way commerce to $70 billion by 2015

India and Africa have set a target to take two-way commerce to $70 billion by 2015 on the back of increasing economic engagement between the two sides.

Currently, bilateral trade between India and Africa stands at about $45 billion.

Speaking during the official opening of the 7^th india-africa conclave in new Delhi under the theme “creating possibilities, delivering value”, india’s Commerce and Industry Minister Anand Sharma said the two continent have set fro themselves a target of $70 billion by 2015.

He said huge potential is available for businessmen of both India and Africa.

And mr Shri Sharma assured that “India will not allow a situation were people die when live saving medicines could be availed to the poor people at a cheaper price.

He pointed out that Indian generic has played a pivotal role in bringing down the cost of treatment of diseases like HIV AIDS from above US $ 11000 to less than US $ 400. However, he stressed that this was not without threat stating that the Legal battles had to be fought and won due to stranglehold of MNC cartel which was denying the availability of these drugs to people in poor countries.

Speaking about the challenges being faced by Africa and India, The Minister highlighted food and energy security in the backdrop of fragile global recovery from the financial crisis and unrest in Africa and West Asia.

He pointed out the need for sustained efforts in the direction of food security as the food inventories across the world have reached dangerous level.
In the presence of the minister, Exim Bank has entered into an agreement on a project basis with Tanzania and Mozambique to provide lines of credit worth $36 million and $20 million, respectively.
and Speaking on the occasion, Mozambique Prime Minister Aires Bonifacio Ali invited Indian businesses to invest in Africa.
he said Indian multinational companies, small and medium enterprises and individuals are already investing in Africa, and that the results are encouraging.

Mr Alli further reiterated the call to all Indian business people to make huge investments in Africa and join in Africa’s efforts geared to boost and diversify the economies, thus contributing to African development.

Over 650 participants from more than 36 African nations, including the Prime Ministers of Mozambique and Togo, the Deputy Prime Minister of Somalia and ministers from over 19 African countries, are taking part in the conclave.

Zambia is been presented by a delegation lead by mr glyen michelo a director at the Zambia development agency.

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Togolese PM calls for strengthening of African public sector

The Togolese prime minister mr gilbert fossoun houngbo has noted that weak public sector in many African governments has costed the continent from attracting massive investment in its infrastructure.

Speaking at the on going Africa-india conclave meeting in new dehli, Mr houngbo said the public sector in most African countries is very weak and lacks capacity to monitor investments in infrastructure development.

He has since called on the African governments to help build capacity in its public sector if it has to undertake its supervisory role as well as monitoring of any projects which may be implemented in the continent.

And Mr houngbo also pointed out that the continent needs about 22 billion dollars of investments in various infrastructure such as roads, airports, electricity among others to easy the way of doing business in Africa.

And speaking at the same meeting, infrastructure advisor from Ernst and young mr miltch khalpey said Africa must realize the pivotal role that infrastructure plays in economic development.

He said Africa must learn from the Indian experience and build its infrastructure from its current level to that which will propel massive investment inflows.

Mr khalpey added that African government must realize that the involvement of the private sector in these ventures is vital if the projected investment in infrastructure is to be attained.

India and Africa have set a target to take two-way commerce to $70 billion by 2015 on the back of increasing economic engagement between the two sides.

Over 650 participants from more than 36 African nations, including Zambia and other 19 African countries, are taking part in the conclave which is being held under the theme “creating possibilities:delivering values”.

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Togolese PM calls for strengthening of African public sector

Over 650 participants from more than 36 African nations, including the Prime Ministers of Mozambique and Togo, the Deputy Prime Minister of Somalia and ministers from over 19 African countries, are taking part in the conclave.

Zambia is been presented by a delegation lead by mr glyen michelo a director at the Zambia development agency.

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ZAMBIAN GOVT OWNS VOLUNTARY SEPARATEES ASSOCIATION K40 BILLION

THE VOLUNTARY SEPARATEES ASSOCIATION OF  ZAMBIA HAS  DISCLOSED THAT  GOVERNMENT   OWES ITS MEMBERS   400 BILLION KWACHA.

BUT  VOLUNTARY  SEPARATEES  ASSOCIATION OF ZAMBIA  GENERAL  SECRETARY  SYACHOKE  SIMEMEZA SAYS GOVERNMENT  HAS SHOWN  POLITICAL WILL TO  PAY THE MONEY AND  HAS   SO FAR  PAID OVER 280 BILLION KWACHA  AS AT  DECEMBER 2010.

SPEAKING  IN AN INTERVIEW  WITH RADIO PHOENIX, MR SIMEMEZA  SAYS  THERE  IS NO NEED THEREFORE FOR PEOPLE  TO  STAGE DEMONSTRATIONS  TOMORROW  BECAUSE  THE  ASSOCIATION  HAS NOT SANCTIONED IT.

MR SIMEMEZA HAS EXPLAINED THAT  GOVERNMENT  IS  READY  TO PAY   20  BILLION  KWACHA   BY THE FIRST WEEK OF APRIL  2011 AND HAS ALSO ASSURED THAT IT WILL PAY OFF ALL  THE REMAINING AMOUNT BEFORE THE GENERAL ELECTIONS.

HE HAS SINCE URGED HIS MEMBER NOT TO BE HOODWINKED BY  THOSE WHO ARE PLANNING TO  DEMONSTRATE  BECAUSE THE ASSOCIATION  RESPECTS AND  WILL STAND BY THE ADVICE THAT WAS GIVEN BY THE MINISTRY OF FINANCE AND NATIONAL PLANNING ON THE  MATTER.

MR SIMEMEZA SAYS POLICE HAVE SINCE BEEN INFORMED  ABOUT THE  PLANNED DEMONSTRATION.

HE   ALSO SAYS   25,000 FORMER CLASSIFIED EMPLOYEES   WILL  HAVE THEIR CONSENT ORDER  SIGNED  BY FIRST WEEK OF MAY AND  THEREAFTER GOVERNMENT WILL START PAYING THEIR MONEY AS WELL.

3523 CIVIL SERVANTS FROM VARIOUS GOVERNMENT MINISTRIES  WENT  INTO  VOLUNTARY SEPARATION  IN 1999   AFTER THE  INTERNATIONAL MONETARY FUND  AND THE  WORLD  BANK ASKED  THE  ZAMBIA  GOVERNMENT  TO  RESTRUCTURE  THE PUBLIC  SERVICE  TO ENABLE THE COUNTRY  REACH  THE  HIGHLY INDEBTED  POOR  COUNTRY`S  COMPLETION POINT  HIPC.

IN 2002, THE VOLUNTARY SEPARETEES  ASSOCIATION SUED GOVERNMENT  AFTER  ITS MEMBERS WERE UNDERPAID AND WON THE CASE IN 2006.

BUT GOVERNMENT APPEALED TO THE SUPREME COURT AND LOST THE APPEAL IN 2007.

THE SUPREME COURT ORDERED   GOVERNMENT TO  PAY  ALL THE TERMINAL BENEFITS IN FULL.

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Zambian govt assures that the country's internal and external debt is sustainable

GOVERNMENT HAS ASSURED ZAMBIANS AND CONCERNED STAKEHOLDERS THAT THE COUNTRY’S INTERNAL AND EXTERNAL DEBT IS SUSTAINABLE.

SPEAKING WHEN HE TOURED THE CONTINUED CONSTRUCTION OF GOVERNMENT COMPLEX IN LUSAKA TODAY, FINANCE AND NATIONAL PLANNING MINISTER DR. SITUMBEKO MUSOKOTWANE SAID THE B PLUS RATING INDICATES THAT THE COUNTRY IS MEETING ECONOMIC PARAMETERS SUCH AS POLITICAL STABILITY, ECONOMIC GROWTH AND SUSTAINABLE BALANCE OF PAYMENT.

DR. MUSOKOTWANE EXPLAINS  THAT CONCERNED STAKEHOLDERS WHO ARE BUSY CRITICIZING THE B PLUS RATING AND ECONOMIC GROWTH ARE NOT GENUINE AND OBJECTIVE BECAUSE INTERNATIONAL ECONOMIC PERFORMANCE OBSERVERS LIKE THE INTERNATIONAL MONETARY FUND AND THE WORLD BANK HAVE SINCE NOTED THE GROWTH IN THE ECONOMY.

HE EXPLAINS  THAT THE B PLUS RATING WILL ALLOW THE COUNTRY TO BORROW INTO BONDS OF ABOUT 500 MILLION BONDS AND THE PROCESS IS PROGRESSING WELL.

AND DR MUSOKOTWANE HAS DISCLOSED THAT ZAMBIA IS BIDDING FOR THE ANNUAL AFRICAN DEVELOPMENT BANK MEETING TO BE HELD IN 2013.

HE SAYS THE  MEETING IS EXPECTED TO ATTRACT TOURISTS FOR THE COUNTRY WHICH WILL RESULT IN REVENUE COLLECTION UNLIKE IN THE PAST WHEN IT NEVER HAD FACILITIES.

MEANWHILE, DR MUSOKOTWANE HAS  EXPRESSED  HAPPINESS AT THE ON-GOING CONSTRUCTION OF THE GOVERNMENT COMPLEX NEW WING.

AND SPEAKING AFTER THE TOUR WITH THE MINISTER, CHINESE OWNED SHANGHAI CONSTRUCTION GENERAL COMPANY CHIEF PROJECT ENGINEER JERRY ZHONG HAS INDICATED THAT THE CONSTRUCTION OF THE $26MILLION COMPLEX WILL BE COMPLETED IN SEPTEMBER THIS YEAR.

MR. ZHONG EXPLAINED THAT THE COMPLEX WILL HAVE VARIOUS CONFERENCE FACILITIES AND HIS COMPANY TOOK INTO CONSIDERATION THE NEED TO CREATE A HUGE PARKING SPACE WHICH WILL HOUSE ABOUT 600 CARS A DAY AND A CONFERENCE ROOM TO HOUSE ABOUT 1200 PEOPLE.

HE HAS SINCE CALLED ON GOVERNMENT TO HELP IN CLEARING CONSTRUCTION MATERIALS WHICH HAVE BEEN MAROONED AT CHIRUNDU BORDER FOR SOMETIME AS  THIS MIGHTY DELAY THE CONSTRUCTION PROCESS.

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Copper-focused Lundin Mining Corporation has recommended that its shareholders reject the hostile takeover bid from Equinox Minerals

Copper-focused Lundin Mining Corporation has recommended that its shareholders reject the hostile takeover bid from Equinox Minerals citing "extensive conditions" and an "inadequate price" as reasons for concern.

Last month, Equinox offered to buy Vancouver-based Lundin in a deal valued at 4.8 billion Canadian dollars, or C$8.10 per share, threatening the previously announced merger between Lundin and Inmet Mining in January.

Lundin said the deal price is too low, as it offers just a 6% premium to the 20-day volume weighted average share price of the company ending the day before the bid was announced, a premium that is "substantially below premiums paid in other unsolicited metals and mining transactions".

Equinox also proposed to finance its bid with a US$3.2 billion bridge facility, led by Goldman Sachs and Credit Suisse, which Lundin believes to be risky.

Under the terms of the Equinox offer, Lundin shareholders would receive either $8.10 in cash or 1.2903 Equinox shares plus one cent for each Lundin share. Equinox would shell out a maximum of 2.4 billion Canadian billion in cash, and issue as much as 380 million shares.

Lundin Chief Executive Officer Phil Wright said that taking on US$3.2 billion in debt on "partially undisclosed" terms is of particular concern, as Equinox plans on repaying the loan over four years based on copper price forecasts for that period - a strategy that could go terribly wrong if the economic climate warrants, and could lead to distressed asset sales.

Lundin, based in Vancouver, produces copper, nickel, lead and zinc and holds expansion projects at its Zinkgruvan mine in Sweden and Neves Corvo project in Portugal, along with its stake in the Tenke Fungurume copper/cobalt project in the Democratic Republic of Congo.

Equinox, with offices in Toronto and Perth, Australia, is said to be particularly interested in Lundin's 24% holding in the DRC property.

Aside from Equinox's Saudi Arabia project currently under construction, the combination of Equinox and Lundin would consist of five producing operations by mid 2012, including Equinox’s Lumwana mine in Zambia.

But Lundin said in its statement that the offer would result in a company with "increased exposure to geopolitical risks due to the location of Equinox assets in Zambia and Saudi Arabia.

Lundin also cited reservations regarding the experience of Equinox's management, which the company does not believe is sufficient to operate a multi-mine entity with projects spread across seven countries.

"Equinox is essentially asking shareholders to grant them an option to acquire Lundin Mining, at their discretion, and their lenders discretion, at a price that is inadequate and containing substantial risks if implemented," said Wright.

As mineral prices reach all-time highs, especially copper, consolidation has become an ever-increasing trend in the industry as companies scramble to attain new mineral properties and more importantly, added resources.

Lundin's rejection of Equinox's offer was based on opinions received from advisors Haywood Securities and Scotia Capital.

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OVER 11 BILLION KWACHA SPENT ON THE CONSTRUCTION OF NEW HOSTELS AT THE UNIVERSITY OF ZAMBIA

OVER 11 BILLION KWACHA  SPENT ON THE CONSTRUCTION OF NEW HOSTELS AT THE UNIVERSITY OF ZAMBIA GREAT EAST ROAD MAIN CAMPUS WHILE OVER K784   WAS SPENT ON A SIMILAR PROJECT AT THE RIDGEWAY CAMPUS.

DEPUTY EDUCATION MINISTER DR BONIFACE KAWIMBE HAS TOLD PARLIAMENT THAT THE  UNIVERSITY OF ZAMBIA NEVER SPENT ANY MONEY ON THE FENCING OF THE PREMISES AT THE GREAT EAST ROAD CAMPUS AS THE PROJECT WAS CONDUCTED UNDER THE MINISTRY OF SPORTS, YOUTH AND CHILD DEVELOPMENT.

DR KAWIMBE HOWEVER STATED THAT THE BED SPACE AT THE MAIN CAMPUS IS STILL VERY LOW AS THE TARGET IS APPROXIMATELY 6000 BED SPACES.

HE ALSO PAID TRIBUTE TO BARCLAYS BANK FOR TWO BILLION KWACHA CONTRIBUTION WHICH WENT TOWARDS THE CONSTRUCTION OF THE HOSTELS AT RIDGEWAY CAMPUS.

AND  DEFENCE DEPUTY MINISTER JOSEPH MULYATA HAS  TOLD THE  HOUSE THAT K3.4BILLION IS OWED TO THE RETIRED EMPLOYEES OF THE ZAMBIA ARMY STATING THAT THIS HAS BEEN DUE TO INADEQUATE FUNDING TO THE MINISTRY.

AND GOVERNMENT HAS DISCLOSED THAT OVER ONE BILLION KWACHA HAS BEEN PAID TO DATE IN RENTALS FOR THE THIRD REPUBLICAN PRESIDENT DR LEVY MWANAWASA`S FAMILY.

DEPUTY MINISTER IN THE OFFICE OF THE VICE PRESIDENT DANIEL MUNKOMBWE TOLD PARLIAMENT THAT ON A MONTHLY BASIS, GOVERNMENT SPENDS $6,800 IN RENTALS FOR THE FAMILY.

MR MUNKOMBWE ADDED THAT GOVERNMENT DOES NOT PAY ANY RENTALS FOR THE SECOND REPUBLICAN PRESIDENT AS THEY ARE STAYING IN A GOVERNMENT PROPERTY.

AND RESPONDING TO A FOLLOW UP QUESTION ,VICE PRESIDENT GEORGE KUNDA SAID  GOVERNMENT CANNOT MOVE THE FAMILY TO ANOTHER HOUSE WITHOUT THE CONSENT OF THE FORMER FIRST LADY MAUREEN MWANAWASA.

HE HOWEVER TOLD PARLIAMENT THAT LAND HAS BEEN IDENTIFIED WHERE A HOUSE FOR THE MWANAWASA FAMILY WILL BE BUILT.

HE WAS RESPONDING TO A QUESTION FROM LUAPULA MEMBER OF PARLIAMENT DR PETER MACHUNGWA WHO WANTED TO KNOW WHAT THE CURRENT MONTHLY RENTALS ARE ON THE HOUSING PROPERTIES OCCUPIED BY THE SECOND REPUBLICAN PRESIDENT AND THE FAMILY OF THE THIRD REPUBLICAN PRESIDENT.

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LUSAKA MAGISTRATE COURT HAS DISMISSED AN APPLICATION BY FORMER FINANCE BANK ZAMBIA LIMITED CHAIRMAN RAJAH MAHTANI TO HAVE HIS CRIMINAL PROCEEDINGS DISCONTINUED

LUSAKA MAGISTRATE COURT HAS DISMISSED AN APPLICATION BY FORMER FINANCE BANK ZAMBIA LIMITED CHAIRMAN RAJAH MAHTANI TO HAVE HIS CRIMINAL PROCEEDINGS DISCONTINUED.

THIS IS A MATTER IN WHICH DR MATHANI AND HIS CO-ACCUSED ARE FACING CHARGES OF OBTAINING CREDIT BY FALSE PRETENCE INVOLVING 6.5 BILLION KWACHA FROM FINANCE BANK ZAMBIA LIMITED.

BUT DR  MATHANI`S LAWYER JOHN SANGWA ON 17^TH JANUARY 2011 MADE AN APPLICATION FOR  THE SAID CRIMINAL PROCEEDINGS  TO BE DISCONTINUED  ON THE GROUNDS THAT,  AMONG OTHERS,  THE ARREST OF  HIS CLIENT WAS PART  OF A PLAN TO DESTROY  HIS CLIENT.

DELIVERING  HIS RULING THIS MORNING, PRINCIPLE RESIDENT MAGISTRATE  DAVID SIMUSAMBA  TOLD THE COURT THAT  WHILE THE SUBMISSION BY THE DEFENCE SUGGEST THAT THE ARREST OF DR MATHANI IS  WELL  PLANNED COLLUSION BETWEEN THE EXECUTIVE  INSTITUTIONS  TO OPPRESS THE APPLICANT, HE MUST LOOK AND INQUIRE INTO THE ACTIONS OF THE BANK OF ZAMBIA AND THE DRUG ENFORCEMENT COMMISSION BUT THERE IS ALREADY A WAY OF JUDICIAL REVIEW  WHICH HE HAS NO JURISDICTION  OVER.

MAGISTRATE SIMUSAMBA FURTHER RULED THAT THE MERE FACT THAT THE EVENTS STARTED AT THE CHANGE OF GOVERNMENT IS NOT SUFFICIENT TO ARRIVE AT THE DETERMINATION THAT THE PRESIDENT AND HIS AGENTS IS BEHIND THEM.

HE HAS SINCE ORDERED THAT TRIAL IN THE MATTER PROCEEDS ACCORDINGLY AND ADJOURNED  TO 21^ST MARCH 2011 FOR MENTION AND SETTING UP OF THE TRIAL DATE.

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OVER 396 PEOPLE IN ZAMBIA WERE ARRESTED AND SOME AMONG THEM CONVICTED DURING THE 2010-2011 FISH BAN PERIOD

OVER 396 PEOPLE IN ZAMBIA WERE ARRESTED AND SOME AMONG THEM CONVICTED DURING THE 2010-2011 FISH BAN PERIOD WHICH RUN FROM 31ST DECEMBER, 2010 TO THE END OF FEBRUARY 2011.

SOME OF THE INDIVIDUALS WHO WERE ARRESTED ARE SERVING JAIL SENTENCES RANGING FROM 6 MONTHS TO THREE YEARS.

AND A TOTAL OF 17.5MILLION KWACHA WAS RAISED DURING THE SAME PERIOD WHICH CAME FROM THE COURT FINES AND SALE OF CONFISCATED FISH.

DELIVERING A MINISTERIAL STATEMENT IN PARLIAMENT THIS MORNING, LIVESTOCK AND FISHERIES MINISTER BRADFORD MACHILA EXPLAINED THAT THE FISH BAN HAS BEEN IMPLEMENTED CONSIDERING THE FISH DEPLETION THAT THE COUNTRY HAS BEING EXPERIENCING IN THE RECENT PAST.

MR. MACHILA ADDS THAT PROMOTING AQUA-CULTURE IS ANOTHER PROGRAMME THAT GOVERNMENT IS IMPLEMENTING IN ENSURING THAT THE FISH DEPLETION IS AVERTED.

HE HOWEVER EXPLAINED THAT DURING THE SAME PERIOD THE FISH BAN WAS NOT IMPLEMENTED ON THE LAKE KARIBA AND TANGANYIKA AS THEY ARE BEING MANAGED UNDER DIFFERENT MANAGEMENT PROTOCOL WHERE THE BAN DOES NOT APPLY.

MR. MACHILA HAS FURTHER CALLED ON THE ZAMBIANS TO SAFE GUARD THE FISH THAT THE COUNTRY HAS IF THE FUTURE GENERATION ARE TO BENEFIT FROM IT.

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ZAMBIA'S ENERGY REGULATION BOARD DEVELOPS A SINGLE LICENSE TO DISTRIBUTE,IMPORT AND EXPORT PETROLEUM PRODUCTS

ZAMBIA'S ENERGY REGULATION BOARD (ERB) HAS IN PURSUANT TO THE PRIVATE SECTOR DEVELOPMENT REFORM PROGRAMME (PSDRP) DEVELOPED A SINGLE LICENSE TO DISTRIBUTE, IMPORT AND EXPORT PETROLEUM PRODUCTS TO MAKE THE REGULATORY REQUIREMENTS LESS BURDENSOME.

THE NEW LICENSE CALLED THE “LICENSE TO DISTRIBUTE, IMPORT AND EXPORT PETROLEUM PRODUCTS” IS VALID FOR A PERIOD OF FIVE YEARS.

UNTIL NOW, LICENSES ENGAGED IN THE DISTRIBUTION, IMPORT AND EXPORT OF PETROLEUM PRODUCTS WERE REQUIRED TO HOLD THREE SEPARATE LICENSES FOR EACH OF THOSE BUSINESS ACTIVITIES.

ERB SAYS THAT THE DECISION TO COMBINE THE PREVIOUSLY SEPARATE LICENSES WILL REDUCE THE COST OF DOING BUSINESS IN THE PETROLEUM SUB-SECTOR IN ZAMBIA ADDING THAT ONE AREA THAT WAS IDENTIFIED BY THE PSDRP WAS THE NEED TO STREAMLINE THE LICENSING PROCEDURES UNDERTAKEN BY STATUTORY AND REGULATORY BODIES INCLUDING ERB.

ERB COMMUNICATIONS OFFICER KWALI MFUNI ATATES THAT THE LICENSE  ARE OBLIGED TO STRICTLY ADHERE TO AMONG OTHER CONDITIONS STIPULATED IN THE ENERGY REGULATION ACT, CHAPTER 436 LAWS OF THE ZAMBIA, ANY REGULATIONS, STANDARDS AND CODES OF PRACTICES AND PROCEDURES.
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The Zambia govt says its illegal for any institution to conduct paralle voter tabulation

THE ZAMBIAN GOVERNMENT HAS REITERATED THAT IT IS ILLEGAL FOR ANYONE OR INSTITUTIONS TO CONDUCT THE PARALLEL VOTER TABULATION EXERCISE STRESSING THAT THIS IS A RECIPE FOR CHAOS IN THE COUNTRY.

MR. GEORGE KUNDA RESPONDING TO A QUESTION THAT ROSE DURING THE VICE PRESIDENT QUESTION AND ANSWER SESSION THIS MORNING IN PARLIAMENT ALLEGED THAT INSTITUTIONS THAT ARE PROPAGATING FOR THE PARALLEL VOTER TABULATION CAN NOT BE TRUSTED AS THEY ARE NOT GENUINE.

MR. KUNDA STRESSED THAT GOVERNMENT WILL THEREFORE NOT ALLOW THESE INSTITUTIONS TO CONDUCT THAT PVT AS THEIR RESULTS ARE ALWAYS PREDETERMINED WHICH IS CONTRARY TO THE PROVISIONS OF THE LAW.

MEANWHILE, MR. KUNDA CLARIFIED THAT THERE IS NO LAW IN THE COUNTRY THAT SUPPORT THE PRACTICE OF HOMOSEXUALITY AND LESBIANISM IN ZAMBIA CHARGING THAT ZAMBIA BEING A CHRISTIAN NATION HAS ALL ITS LAWS ALIGNED TO CHRISTENS VALUES AND NORMS.

HE SAID THE PRACTICE OF SUCH EVIL VICES IS CRIMINAL AS PRESCRIBED IN THE PENAL CODE AND ATTRACT A MINIMUM OF 14 YEARS JAIL SENTENCE.

MR. KUNDA WHO IS ALSO JUSTICE MINISTER HAS SINCE CHALLENGED POLITICAL LEADERS PROPAGATING SUCH IDEAS TO DESIST AND INSTEAD ENCOURAGE ZAMBIANS ON EMBRACING CHRISTIAN VALUES.

GOVERNMENT SAYS THE NATIONAL SPORTS COUNCIL OF ZAMBIA (NSCZ)SHOULD PUT ITS FEET DOWN AND ENSURE THAT THAT WRANGLES THAT HAS ROCKED FOOTBALL ADMINISTRATION IN THE COUNTRY ARE RESOLVED.

RESPONDING TO A QUESTION DURING A QUESTION AND ANSWER SESSION FOR THE VICE PRESIDENT IN PARLIAMENT TODAY, GEORGE KUNDA SAID THE NSCZ SHOULD CONTINUE TO DO ITS BEST IN ENSURING THAT SANITY AND ORDER WERE RETAINED IN THE MANNER FOOTBALL IS BEING ADMINISTERED IN THE COUNTRY.

THE VICE PRESIDENT HOWEVER SAID GOVERNMENT WILL NOT INTERFERE IN THE WRANGLES AS IT IS AGAINST THE FIFA GUIDELINES BUT WAS HAST TO STATE THAT IT WILL WITHIN ITS PERMISSIBLE LIMIT ENSURE THAT ORDER IS RETAINED.

HE DESCRIBED THE WRANGLES BETWEEN THE KALUSHA BWALYA AND ANDREW KAMANGA CAMPS AS UNFORTUNATE ADDING THAT THEY HAVE LED TO THE POOR SOCCER STANDARDS IN THE COUNTRY.

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The Global Fund has announced that former President of Botswana Festus Mogae and former American Health and Human Services Secretary Michael O. Leavitt will lead an independent and thorough review of the fund's financial safeguards

The Global Fund to Fight AIDS, Tuberculosis and Malaria has announced that former President of Botswana Festus Mogae and former American Health and Human Services Secretary Michael O. Leavitt will lead an independent and thorough review of the fund's financial safeguards.

Global Fund Executive Director Michel Kazatchkine said the appointment of this panel is part of the Global Fund commitment to ensuring our financial controls are the most robust possible, and that donor investments go directly to fighting AIDS, malaria and tuberculosis.

Mr Kazatchkine added that Sound financial controls and anti-corruption protections are essential elements in our continued ability to save millions of lives, and to facilitating social and economic development in the more than 140 countries we support.
The announcement follows reports that the U$21.7 billion development fund sees as much as two-thirds of some grants eaten up by corruption.
According to media reports quoting Global Fund investigators much of the money is accounted for with forged documents or improper bookkeeping, indicating it was pocketed.
The fund's newly reinforced inspector general's office, which uncovered the corruption, can't give an overall accounting because it has examined only a tiny fraction of the U$10 billion that the fund has spent since its creation in 2002.
In Zambia, where U$3.5 million in spending was undocumented and one accountant pilfered U$104,130, the fund decided the nation's health ministry simply couldn't manage the grants and put the United Nations in charge of them.

The fund is trying to recover U$7 million in "unsupported and ineligible costs" from the ministry.
The two co-chairs will select a small group of eminent persons and experts to join the panel.

Over the next several months, the panel will assess the Global Fund's current practices in financial oversight and implementation and will also make recommendations where necessary to help strengthen the Global Fund's fiscal controls and anti-corruption protections.

This review is part of a broader set of measures that continue to be implemented to strengthen the Global Fund's financial safeguards.
The independent review panel will report to the Board of the Global Fund. The panel's findings will be made public.
The Global Fund is a global public/private partnership dedicated to attracting and disbursing additional resources to prevent and treat HIV and AIDS, tuberculosis and malaria. This partnership between governments, civil society, the private sector and affected communities represents a new approach to international health financing.

The Global Fund works in close collaboration with other bilateral and multilateral organisations to supplement existing efforts dealing with the three diseases.
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ZAMBIA HAS INTRODUCED TAX BREAKS FOR NEW POWER PLANTS TO BOOST ELECTRICITY GENERATION

ZAMBIA HAS INTRODUCED TAX BREAKS FOR NEW POWER PLANTS TO BOOST ELECTRICITY GENERATION AND MEET GROWING DEMAND, ESPECIALLY FROM THE  MINES.

ZAMBIA GENERATES 1,800 MEGAWATTS AGAINST PEAK DEMAND ESTIMATED AT 1,600 MEGAWATTS, BUT DEMAND IS FORECAST TO RISE SHARPLY OVER THE NEXT FEW YEARS.

ZAMBIA DEVELOPMENT AGENCY SPOKESPERSON  MARGARET CHIMANSE SAYS  WITH THIS AMENDMENT, BUILDING OF POWER PLANTS TO GENERATE POWER FROM VARIOUS SOURCES OF ENERGY, INCLUDING HYDRO, THERMAL AND SOLAR WILL NOW QUALIFY FOR TAX CONCESSIONS.

SHE SAYS PREVIOUSLY, ZAMBIA ALLOWED TAX BREAKS ONLY FOR MINI HYDRO POWER PLANTS RATHER THAN MAJOR PROJECTS DESPITE THE COUNTRY AND THE  REGION'S ELECTRICITY DEFICIT.

MS CHIMANSE ALSO SAYS  THE AMENDMENT ALSO INCLUDES OPERATION OF THE POWER PLANTS AFTER COMPLETION OF THE DEVELOPMENT OF THE PROJECTS.

MINING COMPANIES IN ZAMBIA ARE EXPANDING PRODUCTION TO TAKE ADVANTAGE OF HIGH GLOBAL COPPER PRICES, PUTTING A STRAIN ON THE EXISTING POWER GRID.

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ZAMBIA’S HEALTH MINISTER KAPEMBWA SIMBAO SAYS THE IMPLEMENTATION OF THE INTERNATIONAL HEALTH REGULATIONS BY MEMBERS OF THE WORLD HEALTH ORGANIZATIONS IS CRITICAL TO THE PREVENTION OF THE INTERNATIONAL SPREAD OF DISEASE

ZAMBIA’S HEALTH MINISTER KAPEMBWA SIMBAO SAYS THE IMPLEMENTATION OF THE INTERNATIONAL HEALTH REGULATIONS BY MEMBERS OF THE WORLD HEALTH ORGANIZATIONS IS CRITICAL TO THE PREVENTION OF THE INTERNATIONAL SPREAD OF DISEASE.

MR. SIMBAO SAYS EACH STATES MUST TAKE A FIRM COMMITMENT TO THE IMPLEMENTATION OF THESE REGULATIONS AS GOVERNMENTS HAVE AN OBLIGATION TO BUILD, STRENGTHEN AND MAINTAIN THE NECESSARY CAPACITIES REQUIRED FOR AN EFFECTIVE RESPONSE TO PUBLIC HEALTH RISKS AND PUBLIC HEALTH EMERGENCIES OF AN INTERNATIONAL CONCERN.

HE ADDS THAT STRENGTHENING OF SURVEILLANCE AND RESPONSE ACTIVITIES IN RESPECTIVE COUNTRIES MUST NOT OVERLOOK THE BORDER AREAS HENCE THE NEED FOR A DELIBERATE ALLOCATION OF RESOURCES TO DISEASE SURVEILLANCE CONTROL AND PREVENTION .

SPEAKING DURING THE OFFICIAL OPENING OF INTER-COUNTRY COLLABORATIVE MEETING ON CROSS-BORDER PUBLIC HEALTH ISSUES IN LUSAKA TODAY, MR. SIMBAO NOTED THAT THE FREE MOVEMENT ALONG THE BORDERS FACILITATES THE TRANSMISSION OF DISEASES ACROSS BORDERS. HE HAS EXPLAINED THAT COUNTRIES IN THE SUB-REGION HAVE MADE GREAT STRIDES IN CONTROL AND PREVENTION OF EPIDEMICS BUT MORE MUST BE DONE.

AND SPEAKING EARLIER UNITED NATIONS RESIDENT COORDINATOR KANNI WIGNARAJA SAID SIGNIFICANT RAMPED UP CROSS BORDER COORDINATION EFFORTS ARE REQUIRED TO STOP THE SPREAD OF EPIDEMICS, AND THE ILLEGAL ACTIVITIES THAT HELP THEM SPREAD LIKE WILD FIRE, INCLUDING CIRCULATION OF COUNTERFEIT MEDICINES.

SHE ADDS THAT THERE IS NEED FOR COLLECTIVE POLITICAL WILL, INCREASED INVESTMENTS, CAPACITY STRENGTHENING AND COORDINATED POLICIES AND ACTIONS AMONG THE COUNTRIES IF THEY ARE TO PREVAIL IN ADDRESSING THESE ISSUES WITH FULL FORCE.

AND WORLD HEALTH ORGANISATION AFRICA REGIONAL DIRECTOR DR LUIS SAMBO SAID MOST COUNTRIES IN THE REGION ARE ON TRACK TO REACH THE 2015 TARGETS TOWARDS REDUCTION OF CHILD MORTALITY OR REDUCTION OF MATERNAL MORTALITY.

THE INTER-COUNTRY COLLABORATIVE MEETING ON CROSS-BORDER PUBLIC HEALTH ISSUES HAS DRAWN PARTICIPANTS FROM ANGOLA, CONGO, NAMIBIA, MALAWI, CONGO DR, AND THE HOST NATION ZAMBIA.

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President of the African Development Bank Donald Kaberuka has noted that there is little risk that the political crisis in North Africa could spread to the sub-Sahara region

President of the African Development Bank Donald Kaberuka has noted that there is little risk that the political crisis in North Africa could spread to the sub-Sahara region, but escalating oil and food prices are the main worry.
Oil prices have risen to above $100 a barrel, raising worries that food prices could climb too.

In 2008 international oil prices rose to above $140 and food prices climbed and led to protests in many countries around the world.

Anti-government protests have gripped North African countries such as Libya, Tunisia and Egypt, spreading to Bahrain as masses seek to unseat decade-old regimes.
MR Kaberuka said the thing to worry about more is if the oil and food prices continue going up would be the issues of managing social tensions in many of various cities.
he said the Food security was a "serious problem" and the development bank would invest in agriculture-related infrastructure to support farmers.MR Kaberuka added that the sub-Sahara region's economy would grow by 5.5% this year but this was not enough.
he said elections in various countries were also a worry.  Zambia, Nigeria, Zimbabwe and the Democratic Republic of Congo are among the nations that will go to polls in 2011.
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KONKOLA COPPER MINES PLC (KCM) AND SKF HAVE SIGNED A THREE-YEAR, TWO MILLION DOLLAR CONTRACT COVERING A PREDICTIVE MAINTENANCE (PDM) SOLUTION.

KONKOLA COPPER MINES PLC (KCM) AND SKF HAVE SIGNED A THREE-YEAR, TWO MILLION DOLLAR CONTRACT COVERING A PREDICTIVE MAINTENANCE (PDM) SOLUTION.

THE CONTRACT WILL BE IMPLEMENTED ON ALL KCM SITES.

THE SOLUTION IS BASED ON A SYSTEM THAT PROVIDES EARLY WARNINGS OF MACHINERY AND PLANT DETERIORATION.

BY USING THE DATA TO PLAN AND IMPLEMENT THE CORRECT MAINTENANCE AND OPERATIONAL ACTIONS, THE PLANTS TOTAL PERFORMANCE AND RELIABILITY IS IMPROVED.

SKF SERVICE DIVISION PRESIDENT VARTAN VARTANIAN SAYS THE FIRM WILL CONTINUE TO STRENGTHEN ITS ESTABLISHMENT AS A SOLUTION PROVIDER IN THE REGION, AND HELP TO SIGNIFICANTLY REDUCE UNPLANNED SHUTDOWNS THROUGH IMPLEMENTING THESE PDM METHODOLOGIES.

FOR MORE THAN FOURTY YEARS, SKF HAS SUPPLIED KCM AND ITS PREVIOUS OWNERS WITH A LARGE RANGE OF PRODUCTS, SERVICES AND SOLUTIONS. 

KCM IS THE MAIN COMBINED COPPER MINING, CONCENTRATING AND SMELTING OPERATION IN THE ZAMBIAN COPPER INDUSTRY.

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ZEC HAS BEING CHALLENGED TELL THE CITIZENS HOW MUCH THE COUNTRY IS GETTING FROM THE MINES

THE ZAMBIA EXTRACTIVE COUNCIL (ZEC) HAS BEING CHALLENGED TELL THE CITIZENS HOW MUCH THE COUNTRY IS GETTING FROM THE MINES.

AND ZEC HAS BEING ADVISED TO ENSURE THAT THEY PUSH FOR ZAMBIANS TO BE SHAREHOLDERS IN THE MINES BY ENSURING THAT ALL THE MINING FIRMS ARE LISTED ON THE LUSAKA STOCK EXCHANGE.

SPEAKING ON RADIO PHOENIX LET THE PEOPLE TALK PROGRAMME THIS MORNING, ZAMBIA REVENUE AUTHORITY ACTING COMMISSIONER DOMESTIC TAXES, MS PRISCILLA BANDA HOWEVER SAID ZAMBIA STANDS TO BENEFIT FROM THE EXTRACTIVE INDUSTRY TRANSPARENCY INIATIVE(EITI) PROCESS AS IT WILL REMOVES SUSPICIONS ON THE REVENUE WHICH  GOVERNMENT COLLECTS FROM THE MINES.

MS BANDA REITERATED THAT ZRA HAS THE CAPACITY TO COLLECT THE REVENUE FROM THE MINES ADDING THAT MEMBERS OF THE PUBLIC ZEC WILL BE ENGAGED IN THE IMPLEMENTATION OF THE ENTIRE PROCESS.

REPRESENTING THE CIVIL SOCIETY ORGANISATION MR. KALUNGU SAMPA NOTED THAT THE EITI PROCESS WILL HELP INCREASE ACCOUNTABILITY AND OVERSIGHT ON REVENUES FROM THE MINES.

MR SAMPA CALLED ON ZAMBIANS TO TAKE INTEREST IN THE EITI REPORT AND PARTICIPATE IN THE ENTIRE PROCESS.

AND A REPRESENTATIVE FROM CARITAS ZAMBIA MS FUUVYA NYIRONGO SAID THERE IS NEED FOR A STRONG POLITICAL WILL FROM EITHER THE CURRENT OR THE NEXT GOVERNMENT SO THAT THE PROCESS CAN BE SUSTAINED.

IT IS EXACTLY A MONTH SINCE THE MINISTRY OF MINES AND MINERAL DEVELOPMENT LAUNCHED A CAMPAIGN TO CREATE PUBLIC AWARENESS ON THE EXTRACTIVE INDUSTRY TRANSPARENCY INITIATIVE IN ZAMBIA.

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Save the Children-Zambia has launched the Baseline Study Report

Save the Children-Zambia has launched the Baseline Study Report on the National Child Protection System in Zambia.

The Report which was released in Lusaka today under the theme: ‘Protecting Children in Zambia from violence, abuse, neglect and exploitation,’ revealed that many Zambian children have continued to face multiple protection problems.

Speaking during the launch, Sport, Youth and Child Development Minister, Kenneth Chipungu said Zambian children have continued to face challenges of alcohol and drug abuse, inadequate access to quality health, education and impact of disease.

Mr. Chipungu said these challenges have posed a great concern to the country and was limiting young people from realizing their potential.

He called for more investment in child survival, protection and development for the attainment of national development.

He however, stated that Government had remained fully committed to the improvement of children’s welfare in the country.

He said Government had included a chapter on children and youths in the Sixth National Development Plan (SNDP) and was also reviewing legislation pertaining to children to ensure maximum sentence for perpetrators of child violence.

Mr. Chipungu said this in a speech read on his behalf by his Deputy, Mundia Ndalamei.

And speaking earlier, Save the Children Deputy Country Director, Petronella Mayeya bemoaned lack of specific child protection policies in the country.

Ms. Mayeya said although the country had ratified many key international instruments on child protection and human rights, there were still gaps as these instruments have not been domesticated or turned into law.

She cited other problems as the conflict in laws between customary and the statutory law on issues like early marriages adding that more needed to be done to address this especially that children made about 54 percent of the country’s population.

The study was also conducted in two other countries in the region; South Africa and Swaziland.

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FAO says there is need for the governments in the African countries to come with good quality policies in order to improve agricultural development in the region.

The Food and Agriculture Organisation (FAO) says there is need for the governments in the African countries to come with good quality policies in order to improve agricultural development in the region.

FAO Regional Representative for Africa MARIA SEMEDO says Africa is the regional with the highest proportion of people suffering from hunger in the world hence the need to improve agricultural development so as to reduce the number of people suffering from food insecurity.

Ms SEMEDO says FAO representatives in the Southern African region are currently discussing ways of working together and give best advice to governments on the quality agricultural policies.

She the organization is looking at a there are a number of challenges that need to be addressed such as the issue of market and rising food prices governments can develop sustainable agricultural policies that will provide long term response to the crisis of food insecurity.

Ms SEMEDO told journalists during a media briefing in Lusaka today that political instability is the major cause of food insecurity.

She said currently, the UN has to find how to supply food to some countries that were importing food from North Africa.

And the Zambian Government has embarked on the process of conducting business license reforms aimed at the making the seed business environment friendly.

Agriculture and Co-operatives Acting Permanent Secretary JULIAS SHAWA says the process, which has reached an advanced stage, will contribute positively in seed business in Zambia.

Mr. SHAWA says seed control is a very cardinal component of the seed system as it benefits both the farmers and facilitates international seed trade.

He explained that the country, together with the Common Market for Eastern and Southern Africa and the Southern African Development Community are currently working on efforts aimed at harmonizing seed regulations to promote seed trade in the region and beyond.

Mr. SHAWA said this when he officiated at a two week Licensing course for seed industry personnel in Lusaka today.

He urged the trainees to work together with the ministry to address the challenges that the seed industry continues to face such as the sale of illegal seed to the farming community.

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THE COMMONWEALTH PARLIAMENTARY ASSOCIATION (CPA) HAS APPEALED TO THE MALE FOLK TO ENCOURAGE WOMEN TO EFFECTIVELY PARTICIPATE IN DECISION MAKING PROCESS

THE COMMONWEALTH PARLIAMENTARY ASSOCIATION (CPA) HAS APPEALED TO THE MALE FOLK TO ENCOURAGE WOMEN TO EFFECTIVELY PARTICIPATE IN DECISION MAKING PROCESS IN ALL SECTORS OF THE NATION AND TAP INTO THE WOMEN’S EXPERTISE AND NEW IDEAS.

COMMONWEALTH PARLIAMENTARY ASSOCIATION ZAMBIAN CHAPTER PRESIDENT AMUSAA MWANAMWAMBWA NOTES THAT THE NEGATIVE EFFECTS OF THE NEW CHALLENGES SUCH AS CLIMATE CHANGE, THREATS TO DEMOCRACY, ACCESS TO GOOD HEALTH, WATER AND SANITATION CANNOT BE FOUGHT WITHOUT THE PARTICIPATION OF WOMEN.

SPEAKING DURING THE COMMEMORATION OF THE COMMONWEALTH DAY UNDER THE THEME “WOMEN AS AGENTS OF CHANGE”, TODAY ,MR MWANAMWAMBWA WHO IS ALSO THE SPEAKER OF THE  NATIONAL ASSEMBLY ,SAYS  TIME HAS COME TO RISE AND OVERCOME HISTORICAL BARRIERS THAT HAVE QUITE OFTEN HINDERED WOMEN FROM BEING KEY DECISION MAKERS.

MR MWANAMWAMBWA EXPLAINED THAT IN AFRICA, WOMEN HAVE RISEN TO THE CHALLENGE AND FOUGHT EVILS SUCH AS COLONIALISM AND HUMAN TRAFFICKING THEREBY LEADING TO GREATER CHANGE IN SOCIETIES.

HE ADDS THAT AT NATIONAL LEVEL, THE ZAMBIAN GOVERNMENT HAS SET UP THE GENDER AND DEVELOPMENT DIVISION HEADED BY A CABINET MINISTER TO SPEARHEAD THE COORDINATION AND STRENGTHENING OF THE PARTICIPATION OF WOMEN IN NATIONAL DEVELOPMENT.

AND IN HER MESSAGE ON THE OCCASION, THE QUEEN OF ENGLAND IN A SPEECH READ ON HER BEHALF BY LUKASHA MEMBER OF PARLIAMENT ALFREDAH MWAMBA SAID THIS YEAR, THE COMMONWEALTH REFLECTS ON WHAT COULD BE ACHIEVED IF WOMEN WERE ABLE TO PLAY EVEN A LARGER ROLE.

SHE SAYS  AS GOVERNMENTS CONTINUE TO GIVE THOUGHTS ON HOW TO FIND NEW PRACTICAL WAYS TO TACKLE THE CHALLENGES  BEING FACED BY WOMEN AND GIRLS, IT IS IMPORTANT THAT EVERYONE HELPS THE FEMALE FOLK ATTAIN THEIR GOALS BY PROVIDING THE NECESSARY SUPPORT.

AND THE CLERK OF THE NATIONAL ASSEMBLY DORIS MWIINGA OUTLINED THAT THE  COMMONWEALTH PARLIAMENTARY ASSOCIATION  ZAMBIAN BRANCH CONTINUES TO PROMOTE YOUTH PARTICIPATION IN ITS LEGISLATIVE ACTIVITIES THROUGH THE USE OF THE COMMONWEALTH DAY CELEBRATIONS TO EXPOSE THEM TO THE CHALLENGES THAT AFFECT THE COUNTRY AND MOULD THEM TO BE ABLE TO FACE THE RESPONSIBILITIES THAT LIE AHEAD.

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GOVERNMENTS WARNS TELECOMMUNICATIONS COMPANIES AGAINST SOURCING LABOUR FROM THE OUTSIDE

SCIENCE, TECHNOLOGY AND VOCATIONAL TRAINING MINISTER PETER DAKA HAS WARNED FOREIGN TELECOMMUNICATION INVESTORS FROM OUTSOURCING EXPATRIATES TO DO CERTAIN TOP JOBS IN THEIR COMPANIES.
MR. DAKA SAYS ZAMBIA HAS ENOUGH HUMAN CAPITAL TO DO THE SAME JOBS WHICH FOREIGNERS ARE BEING HIRED FOR.
MR. DAKA WHO IS ALSO MMD CHAIRPERSON FOR TRANSPORT AND COMMUNICATIONS HAS POINTED OUT THAT THE COUNTRY IS TRAINING ITS CITIZENS EVERY YEAR SO THAT THEY CAN BECOME EXPERTS IN THE FIELDS THEY ARE GETTING TRAINED FOR.
HE SAYS THE RULING MMD GOVERNMENT CAN NOT SIT AND WATCH ITS PEOPLE GETTING SIDELINED AND THEIR EFFORTS TO HAVE AN EDUCATED SOCIETY GO TO WASTE.
HE SAYS THE TELECOMMUNICATION COMPANIES MUST REALIZE THAT ZAMBIANS ARE EQUALLY BECOMING EDUCATED AS EACH DAY PASSES BY AND CAN DO MUCH BETTER JOBS IN THE SAME CAPACITY AS THE FOREIGN EXPATRIATES
AND SPEAKING DURING THE SIGNING OF THE ELEVEN POINT FOUR BILLION KWACHA TEVET FUND MEMORANDUM OF UNDERSTANDING BETWEEN HIS MINISTRY AND THE TECHNICAL VOCATIONAL TRAINING AUTHORITY, MR. DAKA STATED THAT THE FUND IS INTENDED TO ENSURE A SUSTAINABLE FINANCING OF THE TEVET SYSTEM.
HE POINTED OUT THAT IN ORDER TO ACHIEVE ITS OBJECTIVE, THE TEVET FUND WHICH WAS ESTABLISHED IN 2005 THROUGH THE AMENDMENT OF THE TECHNICAL EDUCATION HAS BEEN DESIGNED TO INCLUDE RESPONSIVE POLICY, GOVERNANCE STRUCTURES, INSTITUTIONAL ARRANGEMENTS, CAPACITIES, SYSTEM AND PROCEDURES.
MR. DAKA ALSO EXPLAINED THAT THE TEVET FUND PROVIDES FOR COMMITMENT TO GREATER COST-SHARING THROUGH PRIVATE SECTOR WHICH IS STILL MINIMAL AND LEANER CONTRIBUTIONS TO THE COST OF TRAINING AND THE ESTABLISHMENT OF NATIONAL QUALITY OF DELIVERY AND THE CONFIDENCE OF BENEFICIARIES IN THE TRAINING AND SKILLS THEY ACQUIRE.
AND SPEAKING AT THE SAME FUNCTION, TEVETA BOARD CHAIRPERSON WAMULUME KALABO CALLED ON THE PRIVATE SECTOR TO PARTNER WITH THE INSTITUTION AND COME UP WITH PLANS WHICH WILL HELP GOVERNMENT IN GIVING ITS CITIZENS QUALITY EDUCATION.
MR. KALABO ALSO IMPLORED THE PRIVATE TELECOMMUNICATIONS COMPANY TO ABSORB THE LOCAL PEOPLE WHO HE SAID HAVE GAINED VAST EXPERIENCE WHICH IS BEING UNUTILIZED AT THE MOMENT DUE TO LACK OF OPPORTUNITIES.


published by augustine m sichula

Zambia’s finance bank Limited may soon be ready for sale to other potential bidders after the country’s central bank finalized evaluations

Zambia’s finance bank Limited, one of the major lenders in the nation may soon be ready for sale to other potential bidders after the country’s central bank finalized evaluations and restructuring after it was closed for business in December last year.
Central Bank spokesperson Mr Kanguya Mayondi said that there are plans to sell Finance Bank Zambia Limited in due course which was seized by the Lusaka based Bank of Zambia last year and currently managed by First Rand Mechant Bank of South Africa.
He said that the bank is solvent despite some short comings. The intention follows the finalization of preparation of the statement of affairs of the assets and liabilities of FBZL as required by law.

The statement of affairs of the assets and liabilities showed Finance Bank to be solvent noting that there are some shortcomings.
The bank intends to restructure FBZL in terms of section 84B (a) (i) of the Act and the restructuring would entail a purchase and assumption transaction, and that the legal rights of the depositors and creditors would be honoured.
A hearing of interested parties concerning this matter would be held on March 9th 2011 at which the central Bank has invited interested parties to participate in the hearing by either an oral submission at the hearing submitting comments in writing online at fbzlrestructuring@boz.zm which should be deposited at the nearest Finance Bank Zambia Limited branch or further still depositing written comments.
All interested parties who intend to provide oral submissions are requested to notify the bank in writing by no later that March 4th 2011 of their intention to attend the hearing.
Finance Bank Limited was taken over by the Central Bank, as a regulator on December 10 last year for what was said to be breaches in the financial regulations after which the government appointed First Rand Merchant Bank of South Africa to manage it for 90 days.
The lender has in excess of 1,000 employees dotted in more than 30 branches in the country.

Its chairman, Mr Rajan Mathani is in court on charges of allegedly transferring company shares and falsifying documents, contrary to the country’s money laundering Act of 2004.
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THE WORLD BANK LAUNCHES THE NEW PLAN OF SUPPORT FOR AFRICA

THE WORLD BANK HAS TODAY LAUNCHED THE NEW PLAN OF SUPPORT FOR AFRICA ENTITLED “AFRICA’S FUTURE AND THE WORLD BANK SUPPORT TO IT” WITH SHIFTS FROM A MORE GENERAL FOCUS ON SEEKING ECONOMIC STABILITY AND SOUND FUNDAMENTALS TO EMPHASIZE THE NEED FOR ATTENTION IN THREE KEY AREAS.

THE THREE KEY FUNDAMENTAL AREAS ARE COMPETITIVENESS AND EMPLOYMENT, VULNERABILITY AND RESILIENCE AND GOVERNANCE AND PUBLIC SECTOR CAPACITY.

SIGNIFICANTLY THE NEW STRATEGY REVERSES THE ORDER OF IMPORTANCE OF THE BANK’S INSTRUMENTS TO SUPPORT AFRICA AND MOST IMPORTANT INGREDIENTS WILL BE PARTNERSHIPS, KNOWLEDGE AND FINANCE.

SPEAKING VIA VIDEO CONFERENCE FROM THE  FRANCH  CAPITAL PARIS TODAY, THE WORLD BANK VICE PRESIDENT FOR AFRICAN REGION OBIAGELI EZEKWESILI SAID IN IMPLEMENTING THE STRATEGY, THE WORLD BANK GROUP WILL REMAIN ENGAGED WITH CITIZENS AS THEY DEMAND GREATER PARTICIPATION IN THE BENEFITS OF IMPROVED ECONOMIC PERFORMANCE. SHE ADDS THAT THE PLAN WILL DEPLOY PARTNERSHIPS, KNOWLEDGE AND FINANCE TO WORK WITH GOVERNMENTS, PRIVATE SECTOR, CIVIL SECTOR AND OTHER PARTNERS AND HELP COUNTRIES TO SPEED UP THE ATTAINMENT OF THE MILLENNIUM DEVELOPMENT GOALS , EXPAND ECONOMIC PROSPERITY AND REDUCE POVERTY.

MRS. EZEKWESILI EXPLAINED THAT ON COMPETITIVENESS AND EMPLOYMENT, THE PLAN WILL ASSIST COUNTRIES TO DIVERSIFY THEIR ECONOMIES AND GENERATE JOBS AND FURTHER CLOSE THE GAP BETWEEN INFRASTRUCTURE NEEDS AND INVESTMENTS.

AND THE PLAN ON VULNERABILITY WILL FOCUS ON BETTER HEALTH CARE, DEALING PREEMPTIVELY WITH THE EFFECTS OF CLIMATE CHANGE THROUGH IMPROVED IRRIGATION AND WATER MANAGEMENT, AND STRENGTHENING PUBLIC AGENCIES TO SHARE RESOURCES MORE FAIRLY.

THE WORLD BANK VICE PRESIDENT FOR AFRICAN REGION FURTHER EXPLAINED THAT ON GOVERNANCE AND PUBLIC SECTOR CAPACITY, THE PLAN WILL ALSO WORK DIRECTLY WITH GOVERNMENTS TO HELP THEM IMPROVE THEIR SYSTEMS AND CAPACITY TO DELIVER BASIC SERVICES AND MANAGE ACCOUNTS.

AND THE WORLD BANK’S CHIEF ECONOMIST FOR AFRICA SHATAYANANA DEVARAJAN SAYS  THE STRATEGY IS MUCH A REFLECTION OF WHAT AFRICAN PEOPLE AND LEADERS AS IT THE THINKING OF THE BANK.

AND THE WORLD BANK’S COUNTRY MANAGER KAPIL KAPOOR SAYS  WITH THIS LAUNCH OF THE PLAN, ZAMBIA’S EMPHASIS WILL HAVE TO BE ON JOB CREATION AND GOVERNANCE.

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Zambia has obtains a B+ credit rating

Zambia has obtained a credit rating from Fitch Ratings as it plans to sell its first dollar-denominated bonds this year.

zambia was rated B+ by Fitch, its fourth-highest non-investment grade rating, with a “stable” outlook, the company said in a statement today.

Fitch’s sovereign group director Veronica Kalema, said in the statement that the rating reflects “the marked improvement in Zambia’s economic performance since 2003, driven by improved macroeconomic stability, economic liberalization, rising private investment and production in the mining sector, and more recently, a strong agricultural performance.

Fitch said the nation’s economy expanded about 7.1 percent in 2010 from 6.4 percent in 2009, driven by increased mining output, transport, communication, construction and agriculture, and according the Central Statistics Office said in December that Zambia’s gross domestic product growth after inflation has averaged 6.3 percent since 2006.

The rating follows on the heels of global recognition for Zambia's economic achievements in the World Bank and the International Finance Corporation's 2011 'Doing Business' report. In that report, Zambia was named as one of the world's top ten reformers for ease of doing business.

Zambia is also predicted to be one of the world's top ten fastest-growing economies for 2011 to 2015 - showing that there are good times ahead for the Zambian economy.

The country postponed in 2008 a plan to seek a credit rating and sell its first global bond of $1 billion because of the global financial crisis.

Zambia’s rating is the same as that for Ghana, Kenya and Angola and one step above Lebanon’s.

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THE UK GOVERNMENTWILL INCREASE ITS AID SPENDING IN ZAMBIA BY 15% OVER THE NEXT FOUR YEARS

THE UK GOVERNMENT, THROUGH THE DEPARTMENT FOR INTERNATIONAL DEVELOPMENT (DFID), WILL INCREASE ITS AID SPENDING IN ZAMBIA BY 15% OVER THE NEXT FOUR YEARS.

THE COUNTRY IS AMONG 27 COUNTRIES AROUND THE GLOBE WHICH WILL BENEFIT FROM THE BRITISH AID IN THE COMING YEARS THAT AIMS TO ERADICATE POVERTY AND IMPROVE LIVING STANDARDS OF THE POOR PEOPLE.

THE BRITISH INTERNATIONAL DEVELOPMENT SECRETARY ANDREW MITCHELL ANNOUNCED THAT THE KEY OUTCOMES OF TWO AID REVIEWS AND SET OUT THE RESULTS THAT UK AID WILL DELIVER FOR THE WORLD’S POOREST PEOPLE OVER THE NEXT FOUR YEARS.

HE SAID THESE AMBITIOUS REVIEWS OF DFID’S COUNTRY PROGRAMMES AND FUNDING TO INTERNATIONAL ORGANISATIONS WILL MAKE BRITAIN’S AID BUDGET MORE FOCUSED AND EFFECTIVE.

WITH REGARD TO ZAMBIA AMBITIOUS REVIEWS WILL SHIFT ITS FOCUS MORE TO HELPING RURAL ZAMBIANS IN THREE BROAD AREAS OVER THE COMING YEARS.

AND THE BRITISH HIGH COMMISSIONER TO ZAMBIA  TOM CARTER, SAYS HIS GOVERNMENT WILL CONTINUE TO HELP ZAMBIA EXPAND ITS RESOURCE BASE AND WORK WITH GOVERNMENT TO USE THIS TO DELIVER BETTER SERVICES, WITH A PARTICULAR EMPHASIS ON TACKLING CORRUPTION AND WASTE, AND INCREASING TRANSPARENCY AND ACCOUNTABILITY FOR ITS CITIZENS.

AT THE SAME TIME, IT WILL DIRECTLY ADDRESS THE MOST OFF-TRACK MDGS THROUGH A COMBINATION OF CASH TRANSFERS, MATERNAL MORTALITY INTERVENTIONS AND PROGRAMMES TO IMPROVE SANITATION AND HYGIENE. FINALLY THE AID WILL WORK TO REMOVE THE BARRIERS TO WEALTH CREATION AND INVESTMENT ESPECIALLY IN RURAL AREAS SO THAT ZAMBIA HAS A SUSTAINABLE FUTURE BEYOND AID.

MR CARTER ADDED THAT ZAMBIA MAY ALSO BENEFIT FROM REGIONAL FUNDING AROUND ITS INTEGRATION AND CLIMATE CHANGE ACTIVITIES.

AND HEAD OF DFID ZAMBIA MIKE  HAMMOND SAID ZAMBIA HAS AN OPPORTUNITY FOR CHANGE AND IT IS THEIR BELIEF THAT WITH THE RIGHT SUPPORT AND POLICY CHOICES THERE CAN BE REAL POVERTY REDUCTION AND ZAMBIA CAN ACHIEVE ITS VISION TO BECOME A PROSPEROUS MIDDLE-INCOME COUNTRY BY 2030.

THE OTHER COUNTRIES TO BENEFIT FROM THE UK AID PROGRAMME ARE AFGHANISTAN, BANGLADESH, BURMA, DEMOCRATIC REPUBLIC OF CONGO, ETHIOPIA, GHANA, INDIA, KENYA, KYRGYZSTAN, LIBERIA, MALAWI, MOZAMBIQUE, NEPAL, NIGERIA, OCCUPIED PALESTINIAN TERRITORIES,  RWANDA, SIERRA LEONE, SOMALIA, SOUTH AFRICA, SUDAN, TAJIKISTAN, TANZANIA, UGANDA, YEMEN, PAKISTAN AND ZIMBABWE.
HOWEVER, THE UK’S BILATERAL PROGRAMMES IN ANGOLA, BOSNIA AND HERZEGOVINA, BURUNDI, CAMEROON, CAMBODIA, CHINA, GAMBIA, INDONESIA, IRAQ, KOSOVO, LESOTHO, MOLDOVA, NIGER, RUSSIA, SERBIA AND VIETNAM WILL COME TO AN END.
SOME WILL CLOSE IMMEDIATELY; OTHERS WILL CLOSE OVER THE NEXT FIVE YEARS AS THE COUNTRIES GRADUATE FROM UK AID.

THE ANNOUNCEMENT FOLLOWS A MAJOR REVIEW OF ALL BRITISH AID AROUND THE WORLD AND THIS WILL RE-ORIENTATE THE FOCUS OF DFID PROGRAMMES AND PROJECTS SO THAT THEY DELIVER THE GREATEST IMPACT ON POVERTY REDUCTION.

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Zambia plans to restart production at its largest coffee producer

Zambia plans to restart production at its largest coffee producer, which was closed in 2008 after it defaulted on loan repayments.

The Northern Coffee Corporation, formerly known as Kasama Coffee Company produced one-third of Zambia’s 6,000 metric tonnes of coffee in 2004.

According to data from the Zambia coffee growers’ association, the country produced 1,250 tons of coffee in 2010, down from 1,643 tons a year earlier.

The Kasama Coffee Company Limited was at its peak Zambia’s largest coffee exporter and the biggest employer in Northern Province with an establishment of 10 000 workers.

The commissioning of Northern Coffee Corporation Limited today will lead to job creation of approximately 300 jobs hence help in poverty alleviation in the province.

Kasama Coffee Company Limited was on 28^th September 2008 placed under receivership due to the company’s default on loan repayments due to Standard Chartered Bank Plc and Zambia National Commercial Bank Plc.

At the time, the global economy was hit by a severe economic downturn which affected the receivers’ efforts to find a suitable buyer locally and internationally for the assets of the Kasama Coffee Company.

The Zambia Development Agency (ZDA), utilizing the Trade and Industrial Development Fund, worked with the receiver and the two banks to formulate a rescue plan which was accepted by Government.

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