French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Reporter 

The Zambia Competition Commission (ZCC) has commended Government for granting MUVI Television a nationwide television broadcasting licence.  

ZCC director for consumer and public relations Brian Lingela said the entry of MUVI TV as a second national privately-owned operator is a milestone in the history of the Zambian broadcasting industry as it will help to enhance competition in the provision of television services in the country.

Mr Lingela said this in a statement released in Lusaka yesterday.  

He said the decision taken by Government to grant MUVI TV a nationwide television broadcasting licence will also provide Zambian television consumers access to wide television services necessary for them to make informed decisions and choices.  

“The Commission considers the entry of MUVI TV as a second national privately-owned operator a milestone in the history of Zambian broadcasting which will enhance competition in the provision of television services in the country,” he said.  

And ZCC executive director Thula Kaira has challenged other private broadcasters to take advantage of the granting of MUVI TV a nationwide broadcasting licence to expand their television services to wider audiences.  

“Now that the policy on nationwide coverage appears to have been relaxed by Government, ZCC would like to encourage other television broadcasters with the capacity to broadcast nationally to approach the Ministry of Information and Broadcasting Services in a manner MUVI TV has done,” he said.

 “Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Reporter

Zambia Postal Services (ZAMPOST) is for the first time since its incorporation expected to make a profit following the company’s good performance.

Zampost postmaster general Paul Simfukwe could not, however, disclose how much profit the company will make but said it will be made known by March 31, 2010.

Mr Simfukwe attributed the company’s good performance to financial services such as money transfer and the Bureau de Change.

He said the express mail and the Zampost bus were equally performing very well.

He said Zampost currently has 12 buses servicing provinces.

“We are modernising our fleet to double the number of our buses. The transport sector is doing very well in not only ferrying mails but also carrying passengers,” he said.

Mr Simfukwe said the future of Zampost was bright as opportunities were immense.

He said there are plans to open a Post Bank that will service the huge clientele in all the areas where the company has a presence.

Zampost has about 120 branches countrywide.

He said the company has also embarked on automation of all postal offices linking the branches to each other by the end of March 2010.

He said a lot of money is being invested in the automation of Zampost to transform and modernise the postal services as well as ensure the company’s survival in the rapid changing environment.

Mr Simfukwe said resources have been invested in installation of wide area networks, computerisation and automation of systems and processes.

“The postal sector makes significant contribution to the social and economic development of a country and to poverty reduction by enabling the exchange of information, goods and money,” he said.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Reporter

Professional Insurance described 2009 as a successful year despite the global economy crisis.

Professional Insurance Deputy General Manager Geoffrey Chirwa said this when he was speaking after a media briefing to announce the insurance company’s new products.

Mr. Chirwa said the global economic crisis did not have any significant negative impact on the company’s business.

He said due to the support mainly from the company’s clients, the year 2009 has been extremely good.

Mr. Chirwa further stated that his company has instituted measures to counter the impact of global financial crisis through means of expense reduction. This was done in order to avoid deficits.

He also stressed hope that 2010’s financial year’s performance would surplus that of 2009 as the company continues to come up with additional products for growth.

And in closing he named the new products that the company launched as, Premium Holiday Package, Senior Citizens Package, Pay as You Drive and Lady Drivers Insurance Package.

Copyright © 2009 Zambian Chronicle. All Rights Reserved

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

Malambo constituency Member of Parliament Maxwell Mwale has revealed that Sable Contractors will tar the Chipata-Mfuwe road leading to South Luangwa National Park.

Mwale, who is also Minister of Mines and Minerals Development, said the government had contracted Sable Contractors to work on the Chipata-Mfuwe road.

“The contract has been awarded and the contractor should start mobilising so that he moves on site on our road so that we can see it upgraded to tarmac. The contractor is Sable. As you know Sable is in the whole of Eastern Province; it will be easier for them to mobilise. They will tar the road. Sable should move on site anytime soon and commence the works,” Mwale said.

He admitted that the K35 billion budgeted for tarring of the Chipata-Mfuwe road in the 2010 national budget was inadequate.

“It”s not sufficient but as the government we are doing everything possible to ensure that some money is added on,” said Mwale.

During the official opening of Parliament last September, President Rupiah Banda said the government would spend K200 billion on the road because of its importance to tourism.

“The South Luangwa National Park is another priority area for tourism development. However, poor accessibility to and within the area continues to pose a serious constraint to further development of tourism. Government, therefore, has this year embarked on rehabilitating the Chipata-Mfuwe road leading to the national park at a cost of K200 billion,” said President Banda.

But in the 2010 national budget, finance and national planning minister Dr Situmbeko Musokotwane only allocated K35 billion for the Chipata-Mfuwe road.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

Speaking at a press conference last week Vice President George Kunda revealed that the Government is currently drafting several pieces of legislation to be tabled in Parliament next year.

Mr Kunda said the bills included the Anti-Corruption Commission (ACC) law which would see the creation of specialised departments in the ACC such as the serious fraud unit to take over the function of the defunct Taskforce on Corruption.
Mr Kunda also commented on a whole range of other issues of national importance. He said the constitutional review process would continue because it was coming up with useful and ingenious constitutional provisions on the economic and political governance of the country.

Mr Kunda said the Millennium Challenge Account (MCA) programme initiated by the American government was another important governance programme which would enable the Government to evaluate its governance standards and indicators on civil liberties, rule of law and freedom of the Press, among others.

He said the Government under President Rupiah Banda’s leadership would continue to create a conducive environment for doing business and had won accolades from the International Monetory Fund, World Bank and other cooperating partners.

On ratification of the United Nations conventions on the rights of persons with disabilities, Mr Kunda said the Government had approved the ratification of rights of persons with disabilities.

He said the move signified the Government’s commitment to the protection and promotion of the rights of persons with disabilities.

The vice-president said under the 2010 Budget, the Government would construct 70 new local courts and rehabilitate 30 others countrywide at K33 billion.

He said construction and rehabilitations of the courts would increase access to justice for its citizens in accordance with the access to justice programme.

On the establishment of small claims court, Mr Kunda urged the public to make use of the facilities, whose minimal charge is K55,000 inclusive of the cost of service of the claim defendant.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

Bank of Zambia (BoZ) deputy governor Denny Kalyalya says access to banking services and the contribution of the banking sector to economic development cannot be realised if the cost of accessing banking services continues to be high. He has thus called on commercial banks to revise the pricing structure of their products in order for customers to increase access to financial services.

Dr Kalyalya says the Central Bank will be relentlessly knocking on doors of commercial banks and other financial service providers to see to it that the objective is achieved for the benefit of people.

“The industry is characterised by high bank charges and interest rates,” he said.

Dr Kalyalya said this at the launch of Barclays Bank Zambia Plc, Manda Hill branch, at Lusaka’s Manda Hill Centre shopping mall.

He said BoZ has taken up access to financial services as one of the strategic objectives for the period 2008-2011. Zambia, like most commodity exporting countries, was mostly affected by the second round effects of the global economic crisis, especially in key sectors such as mining.
The deputy governor, however, says since the beginning of the year, Zambia’s economy has been on the recovery path.

“It is our expectation, therefore, that banks will provide the required level of finance to consolidate the economic gains registered so far,” he said.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

The Development Bank of Zambia (DBZ) managing director, Abraham Mwenda, has revealed that negotiations have reached an advanced stage and the deal would be finalised soon in which the bank is negotiating for a US$5 million credit line with the Industrial Development Corporation of South Africa that will enable the bank provide funding to Zambian firms.

Dr Mwenda stated that the US$ 5 million credit line would target mainly the Zambian firms which were in the business of exporting agriculture and manufactured products.

Speaking in Lusaka, he said lack of finance was undermining the bank’s effort of providing funding to various firms. But the bank was commited to ensure that firms wishing to access funding were funded.

Dr Mwenda said the bank had in the recent years signed various credit lines, which have enabled it to increase its loan providing funding in various sectors of the economy.

 “DBZ wants to add value to the economy by providing funding to various business ventures,” he said.

 He bemoaned the low capitalisation and institutional capacity of micro-finance institutions in Zambia saying this undermined the availability of finance.

 Dr Mwenda noted that the available credit was not affordable. Most financial institutions were not willing to provide long term finance.

 “The country is also characterised by unequal access to economic opportunities, for instance some SMEs are unable to access funding,” he said.

 There was need for more players in the financial sector to come on board to transform the sector and further create competition.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

The International Monetary Fund (IMF) has approved US$81.2 million for Zambia’s poverty reduction programmes under the Poverty Reduction and Growth Facility (PRGF) arrangement.

The immediate release of the funds will bring the total disbursements to US$262.5 million this year. This follows the executive board’s completion of the third review of the country’s economic performance under the PRGF arrangement.

This is contained in a statement issued in Lusaka by first secretary for press at the Zambian embassy in Washington DC, Ben Kangwa.

IMF deputy managing director and acting chairman of the executive board, Murilo Portugal, commended the Zambian government for the country’s solid economic performance under the PRGF-supported programme.

“Their prudent macroeconomic management was demonstrated by the Zambian economy’s resilience to the global economic crisis,” Mr Portugal said.

He said Zambia’s 2010 budget is well-balanced and that authorities are aiming at creating fiscal space for poverty reducing expenditure and infrastructure investment to sustain robust and diversified growth. Mr Portugal said there is need for further reforms to enhance efficiency in Government spending.

He said the floating exchange rate regime and reserve money-based monetary programme have served the country well and that Government’s plan to transition an inflation targeting framework should be premised on the establishment of necessary preconditions.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

Minister of Commerce, Trade and Industry Felix Mutati on Tuesday said that South Africa plans to invest US$600 million in Zambia, Africa’s top copper producer, to finance copper, agriculture and real estate projects in the next two years.

Mr Mutati said during a meeting of Zambian and South African entrepreneurs held on the sidelines of a visit by President Jacob Zuma to Zambia, that other investments from South Africa will be directed to Zambia’s manufacturing sector.

He said South Africa’s African Rainbow Minerals will invest US$250 million to develop the Konkola North Copper project between Chingola and Chililabombwe, situated north-west of Lusaka.

“These are critical investments that over the next two years will be in excess of US$600 million, surpassing what we have achieved in the last 15 years between the two countries,” Mr Mutati said.

The minister cited other projects such as the construction of a shopping mall in Lusaka by South Africa’s HBW and a similar complex on the Copperbelt expected to cost US$160 million.

“We see increased interest by many South African companies in investing in Zambia,” he said. 

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”

French Version German Version Russian Version Spanish Version

Portuguese Version Chinese Version Arabic Version

By ZamChro Correspondent

The Bank of Zambia (BoZ) expects the Kwacha to remain stable because of increased copper prices on the London Metal Exchange, which are currently hovering around US$6,000 for a metric tonne. The central bank has also projected a gross domestic product (GDP) growth rate of 6.3 percent to be achieved by the end of this year.

BoZ Governor Caleb Fundanga said the Kwacha exchange rate against the United States dollar is currently stable.

The BoZ Kwacha exchange rate is at US$4,665 for buying and US$4,685 for selling as at yesterday.

Dr Fundanga was speaking at a Zambia Development Agency (ZDA) business seminar held for a 60-man South African business delegation which has accompanied South African President Jacob Zuma.

Dr Fundanga said despite the global economic crisis, the economy is expected to grow by 6.3 percent in 2009 from the 6.0 percent in 2008.

He attributed this to robust growth in mining, agriculture and construction sectors.

He also projected inflation to fall to single digit levels in 2010.

“Copyright © 2009 Zambian Chronicle. All Rights Reserved.”