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Tuesday, September 16, 2025
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Lawrence Sikutwa sells off his shares in Madison Finance for US$ 35 million.

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Lawrence Sikutwa & Associates Limited and ZFI Holdings Limited, the two largest shareholders in Madison Financial Services (MFS), have separately executed Share Purchase Agreements with XYLEM Trading Limited, relinquishing their combined 72.05 per cent shareholding in the insurance giant for $35 million.

According to a market announcement, LSA and ZFI, a private limited company incorporated under the laws of the Republic of Mauritius and legal owner of 34.91 per cent of the ordinary issued shares in MFS, are relinquishing their shareholding in MFS following the execution of separate SPA.

Madison Financial Services has faced a series of liquidity, credit and solvency issues governance related lapses that triggered regulatory take over in 2019.

Xylem Chief Executive Officer Kajiya Kantumoya expressed not only confidence in Madison as a local bred company but the Zambian economy as a whole that despite the economic downturn, would soon rebound to allow Madison thrive.

“Our investment in Madison Financial Services signifies our confidence in the Zambian business landscape as well as the Zambian economy which we believe will get better going forward. As an investment target for us we believe Madison was a better target having a pedigree of over 28 years and being Zambian owned entity. The length of existence is beyond any private owned entity in Zambia while LSA has done a tremendous job that has taken the group this far listing on the Lusaka Stock Exchange (LuSE),” Mr. Kantumoya said.

“With Xylems $35million investment, we are positioned to recapitalize all the business units in the group, strengthen its corporate governance principles, introduce new and exciting products on the insurance side and in the asset management space through Madison Finance that the Zambian Public will appreciate and benefit the injection of new competitive blood that will take Madison to its number one spot in the country,” he said.

Xylem Trading (Pty) is a company and investment vehicle incorporated in South Africa with a diversified investment portfolio which includes regulated financial services in Mauritius, Zimbabwe, Mozambique and Seychelles.

XTL specializes in commodity trading in fuel and grain in the SADC.

Fuel pump prices remain unchanged-ERB

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The Energy Regulation Board has announced that pump prices of fuel products will remain unchanged following the introduction of Statutory Instrument number 125 of 2020 on Value Added Tax (Zero-Rating Amendment) order by government.

The ERB disclosed that the order will have no effects on the current pump prices of petroleum products across the country.

In a statement issued to the media in Lusaka, ERB Board Chairperson Jane Kabwela explained that SI No. 125 has included petrol and diesel to the schedule of zero rated petroleum products.

Ms. Kabwela indicated that the SI was aimed at cushioning the impact of pump price increase and to further stabilize the price of petroleum products.

The ERB Board Chairperson disclosed that the SI, which was effected on January 1, 2021, responds to the various changing variables as a result of the exchange rate and its effects on the pricing structure of petroleum products.

She further said the order is meant to benefit the consumers as well as ensure security of supply.

Ms. Kabwela however indicated that the capped national pump prices of fuel products will remain the same.

“The Energy Regulations Board in cognizance of this positive development has maintained the wholesale and retail prices of petroleum products following the VAT Amendment order contained under SI No. 125 of 2020,” she explained.

She has meanwhile called on the public to contact the ERB offices across the country for additional information.

Mumbi Phiri calls for arrest of PF masqueraders smuggling mealie-meal

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Patriotic Front (PF) Deputy Secretary General Mumbi Phiri has called on security wings to clamp down mealie meal smuggling by bringing to book all the culprits including those masquerading as members of the ruling party.

Mrs Phiri explained that it is unfortunate that the said masqueraders are involved in mealie meal smuggling into neighbouring countries claim to have been permitted by the ruling party when infact not.

She said the ruling party does not support illegal activities like smuggling , yet some people say they have blessings of the party to avert being apprehended by security wings.

Mrs Phiri was speaking in Chililabombwe when she accompanied President Edgar Lungu for his Copperbelt working visit which included an address to miners at Konkola Copper Mines (KCM).

The party Deputy Secretary General called on the Police, the Zambia National Service (ZNS) and the Immigration Department to apprehend people involved in mealie meal smuggling unselectively as the ruling party does not condone the vice.

Ms Phiri said people purporting to engage in mealie meal smuggling in the name of the ruling party should be reported to the party secretariat so that they can be prosecuted in the courts of law.

She bemoaned the prevailing rampant trend of mealie meal smuggling as it contributed to high mealie meal prices on the local market negatively affecting the local communities.

Government has deployed ZNS officers in border areas to curb smuggling.

Criminals who committed violent acts of terror against US democracy will be held accountable, says US Embassy in Zambia

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The United States Embassy in Lusaka has said that the criminals who committed violent acts of terror against US democracy yesterday will be held accountable in accordance with the rule of law in the United States.

In a brief statement to comment on what transpired in the US capital when a Pro-Trump Mob stormed the US seat of Government, the US Embassy expressed heartfelt gratitude to the many citizens of Zambia who sent messages of support during yesterday’s difficult hours.

Below is the Brief Statment

Storming of the United States Capito

LUSAKA – The United States Congress has completed its Constitutionally mandated count of the Electoral College vote and affirmed the election of Joseph R. Biden, Jr. and Kamala D. Harris as President and Vice President of the United States.  They will be sworn into office and a peaceful transfer of power will occur on January 20, 2021.  The criminals who committed violent acts of terror against our democracy yesterday will be held accountable in accordance with the rule of law in the United States.  Our heartfelt gratitude to the many citizens of Zambia who sent messages of support during yesterday’s difficult hours.  The enduring friendship and partnership between the United States and the people of Zambia will endure and thrive as we recommit to supporting and living up to our democratic ideals

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No Miner will lose Job at Mopani, President Lungu Assures Workers

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Kitwe, January 8, 2021 ZANIS — President Edgar Lungu has assured miners at Mopani Copper Mines that there will be no job losses at the mining firm.

And President Lungu has told management at Mopani that the government will ensure talks with Glencore are promptly concluded to bring certainty to the Mining giant.

President Lungu said this when he addressed miners at Mopani Copper Mines plant in Kitwe today.

“I’m urging you to continue working hard because it is through hard work that the economy will be sustained. I can assure you that Mopani Copper Mines will remain viable and vibrant,” President Lungu told the miners.

The Head of State has since called on union leaders to continue encouraging their members on the need to continue working hard and ensure production is up and running.

“I’m asking you the unions to continue working very hard like we have always done previously, and ensure that minerals are extracted. Continue encouraging your members that soon the light will shine,” President Lungu said.

President Lungu explained that his job is to ensure that hope is restored in the miners, further assuring them of his government’s support.

And Minister of Mines, Richard Musukwa said the mine will continue operating and that government will ensure much needed support is rendered to keep it afloat.

Meanwhile, Mopani Copper Mines ,Chief Executive Office, Charles Sakanya said 2020 was a very difficult year for the mining company, but hopes to see a better 2021.

Workers Listening to President Lungu at Mopani Mines
Workers Listening to President Lungu at Mopani Mines
Workers Listening to President Lungu at Mopani Mines
Workers Listening to President Lungu at Mopani Mines
Mopani Mine

Zanaco Go Top After Midlands Derby Victory

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Zanaco have taken an overnight lead of the FAZ Super Division log following a 2-1 Midlands derby victory away at Kabwe Warriors as the season resumed from the fortnight Christmas break.

But the seven-time champions had to rally from one-down to leave Godfrey “Ucar”Chitalu Stadium in Kabwe with the 3 points.

Twiza Chaibela put Warriors ahead in the 2nd minute but that lead lasted just fourteen minutes when Zanaco captain Ziyo Tembo struck with the equalizer.

Ernest Mbewe scored the winner in the 55th minute to lift Zanaco from third to first on 21 points and relegating Prison Leopards, who have 20 points, to number two.

Prison only play this Sunday away to Napsa Stars at Woodlands Stadium in Lusaka.

2020/2021 FAZ SUPER DIVISION RESULTS AND FIXTURES
WEEK 12
08/01/2021

Kabwe Warriors 1-Zanaco 2
09/01/2021
Lumwana Radiants-Green Buffaloes
Buildcon-Red Arrows
Young Green Eagles-Indeni
10/01/2021
Napsa Stars-Prison Leopards
Forest Rangers-Kitwe United
20/01/2021
Lusaka Dynamos-Green Eagles
POSTPONED:
Zesco United-Nkwazi
Nkana-Power Dynamos

COVID-19 new cases swell to over 1 000, in 24 hours, with 18 deaths recorded

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Zambia has in the last 24 hours recorded a total of 1,029 new COVID-19 positive cases from the 11, 855 tests conducted, bringing the cumulative number of cases to 25, 236.

Minister of Health Chitalu Chilufya says the country has further recorded a total of 18 deaths in the last 24 hours with 11 brought in dead (BID) and 7 being facility deaths.

Speaking during the routine COVID-19 update in Lusaka today, Dr Chilufya noted that Zambia’s coronavirus outbreak has been escalating at an alarming rate with the country recording the highest number of deaths and critical cases within the 24 hour period.

The Minister stated that the cases were identified through various surveillance platforms in the community, health facilities and at points of entry including five districts that stood top.

“The top five districts with highest cases include Lusaka with 379, Kabwe 122, Livingstone 67, Ndola 56 and Solwezi 40,” he said.

Dr Chilufya noted that in terms of clinical update, 171 patients are admitted to various COVID-19 facilities in the country out of which 96 are on oxygen therapy.

He added that 396 people have been discharged from various facilities, bringing the cumulative number of recoveries to 20, 349 with 441 fatalities.

The Minister further indicated that the status of the epidemic in the country needs an urgent and effective collaborative and coordinated response approach.

“We are all called upon at individual and collective level to act in solidarity to ensure that we do not spread COVID-19 or contract the disease,” Dr Chilufya said.

And Zambia National Public Health Institute Director Victor Mukonka noted that the new variant of COVID-19 is contagious and spread quickly.

Professor Mukonka added that the COVID-19 pandemic is a severe formal disease that is causing high mortality, and has since advised the public to avoid unnecessary movements, while paying attention to serious adherence to health guidelines.

“This pandemic is facilitated very quickly through super spreaders such as weddings, parties and many other gatherings, so avoid crowded places, avoid restaurants. Let’s stay home,” he stressed.

Earlier Dr Chilufya called for a moment of silence in honour of Professor Kumar Baboo who succumbed to COVID-19 yesterday at Levy Mwanawasa Hospital and Mr Ezekiel Sakala a dentist and Office Administrator in Eastern Province who also died of the pandemic.

Dr Chilufya said, Professor Baboo who was a regular at COVID-19 updates played a critical role in many aspects of public health including the fight against COVID-19 outbreak and taught generations of medical doctors in the country.

FAZ Orders Prison Leopards To Remove Convicted Defiler Fichite From Bench

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The Football Association of Zambia has ordered league leaders and promoted side Prison Leopards to withdraw former Green Buffaloes and Zambia striker Dudley Fichite from their bench who is currently serving a life sentence.

Fichite was convicted for defiling a minor and sentenced to life imprisonment in 2018 and is currently serving at Mukobeko Maximum Security Prison in Kabwe where the club is based.

FAZ general secretary Adrian Kashala said Prison had brought the game into disrepute by appointing a convict to serve on their bench.

“In the meantime, we therefore direct that you avoid involving the aforesaid individual in any FAZ organised football activities to avoid the complications that may arise from this act,” read Kashala’s letter to Prison Leopards read in part.

“We would appreciate that in future, your club should notify the Association before implementation of anything that you are not sure about so that we can give guidance in accordance with FIFA, CAF and FAZ statutes and regulations.”

Nkana Face Morocco Div 2 Side in CAF Confed Cup Pre-Group Stage

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Nkana have been drawn against Moroccan Division 2 club Tihad Casablanca in the pre-group stage of the 2020/2021 CAF Confederation Cup.

Tihad qualified to represent Morocco in this season’s CAF Confederation Cup after winning the 2019/2020 Morocco Throne Cup.

Nkana will be home in the first leg on February 13 in Kitwe and the final leg will be played on February 21 away in Casablanca.

Winner over both legs will qualify to the league stage of the CAF Confederation Cup that will commence on March 5.

Nkana were relegated to the CAF Confederation Cup after bowing out of the CAF Champions League this month after 2-1 on aggregate at the pre-group stage to Petro Atletico of Angola who beat them1-0 in Luanda on January 6.

Meanwhile, Napsa Stars will face Kenyan giants Gor Mahia in their pre-group stage and travel to Kenya for the first leg during the Valentines Day weekend and will host the Nairobi giants on February 20 in Lusaka.

Nkana and Napsa are Zambia’s last hopes of continental group stage qualification following Forest Rangers’ first round ejection from the CAF Champions League in December and Green Eagles second round elimination in January from the CAF Confederation Cup.

Lifuka questions President Lungu’s silence over Honey Bee scandal

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Transparency International Zambia President Reuben Lifuka has questioned why President Edgar Lungu is silent over the Honey Been Pharmacy procurement scandal.

Mr Lifuka who is also Vice President of Transparency International Global said the seriousness of the alleged procurement scandals at the Ministry of Health in Zambia should not be downplayed.

He said corruption, greed and sheer impunity of a few, has put people’s lives at risk.

“Typically, no one is taking responsibility and leadership is conspicuously absent. How big a scandal is President Lungu waiting for to happen at the Ministry of Health before he takes action?”

Mr Lifuka said the mere fact that defective health supplies were distributed in the country at the behest of the Ministry, is cause enough for him to take appropriate action.

“Yes loyalty to friends and acolytes maybe a good act, but loyalty to the nation, respect for the rule of law and protection of citizens from harm, are hallmarks of a great leader,” Mr Lifuka said.

“Surely, a history littered with scandals, is not a legacy that any leader should be proud of.”

MMD National Youth Chairperson Mr. Joshua Mulenga addressing the event
MMD National Youth Chairperson Mr. Joshua Mulenga addressing the event

Meanwhile, Opposition New Hope MMD Youths have said that the revelations of the supply of sub-standard drugs, gloves and condoms by Honeybee Pharmacy to the Ministry of Health have vindicated MMD President Dr. Nevers Mumba’s calls for the Covid-19 Vaccine to be verified before being administered to Zambians.

New Hope MMD President Dr. Nevers Mumba had in the past week called upon the Government through the Ministry of Health to subject the much anticipated Covid 19 vaccine to tests by Zambian Doctors and Scientists to deem them fit for the public. However, this did not sit well with the Minister of Health Hon. Chitalu Chilufya who said that the MMD Leader was playing politics. Dr. Mumba then responded that being a former Republican Vice President, he knew the procedures of Government and that when his party was in power, then Party and Republican President Dr. Levy Mwanawasa rejected GMO Maize in the midst of a drought because they were a hazardous to the Public.

MMD Youths through their National Youth Chairperson Mr. Joshua Mulenga said that the Honeybee Scandal had proved that the PF government doesn’t care for the Zambian People.

“As the MMD Youths, we are shocked with the revelations of the Honeybee scandal where substandard drugs, condoms and gloves were procured by the PF Government and are being currently used around the country. A government that can put the lives of its people at risk is a government that deliberately wants to kill them. So, to us, this has proved that the PF led Government doesn’t care for the People of Zambia”, Mr. Mulenga said.

Mr. Mulenga further called for the immediate withdraw of all the products that were supplied by honeybee pharmacy before more lives are lost.
“We call upon the Ministry of Health to do the most honorable thing by recalling these drugs, gloves and condoms which are currently being administered to Zambians throughout the Country. By doing so, the Ministry will save the lives of many Zambians”, Mr. Mulenga said.

Mr. Mulenga then called for the firing of Health Minister Hon. Chitalu Chilufya and the Permanent Secretary for abusing public funds.
“We believe that the Honeybee revelations has vindated President Mumba’s calls for the Covid Vaccine to be verified by Zambian doctors and scientists before they are administered to the public. If that is not done, we might end up having sub standard vaccines being injected on Zambians which can cause health problems. And we call upon Republican President Dr. Edgar Lungu to fire Hon. Chilufya and Permanent Secretary for incompetence and putting the lives of Zambians at risk”, Mr. Mulenga said.

Mbombo’s Nkana Exit Confirmed

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Cash-strapped Nkana have confirmed that they are selling some of the family silver with news that striker Idris Mbombo is leaving the club.

The prolific striker is set to leave the defending FAZ Super Division champions for Egypt on a permanent move after second two-year stint with Nkana.

“It is true that Idris will be leaving us, he will be joining the club where Walter Bwalya was at El Gouna,” Nkana vice president Patrick Ndhlovu said.

Mbombo will replace his former Nkana striker partner and DR Congo compatriot at Egyptian league leaders El Gouna following Bwalya’s big move to Cairo giants Al Ahly last week.

The striker’s 11 goals last season propelled Nkana to the 2019/2020 league title and an unprecedented 13th crown.

“Club-to-club we have agreed, and we are almost there and he will be leaving come next week,” Ndhlovu said.

“He has done what he could do at Nkana Football Club and he has decided to go. We don’t hold on to players but what we have to do now is find who can replace Mbombo.”

Mbombo , who may have just played his last game for Nkana on January 5 in a 1-0 away CAF Champions League loss to Petro Atletico in Luanda, Angola, has so far scored 4 league goals, one in the CAF Champions League plus a brace in the 2-0 win over Indeni in the Charity Shield final.

FAZ presidential hopeful Joseph Nkole dies

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FAZ presidential aspirant Joseph Nkole has died.

Nkole died in the early hours of Friday at Levy Mwanawasa hospital.

He was one of the main candidates challenging incumbent FAZ president Andrew Kamanga.

Nkole is former Referees Association of Zambia (RAZ) President.

He also served FAZ as committee member under the Teddy Mulonga executive and served as spokesperson between 2004 and 2008.

Nkole, 67, was taken ill on Sunday.

Political party leaders urged to appreciate works done by the PF government

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Opposition Green Party leader Peter Sinkamba has called on all political party leaders to support and appreciate the works of the government of the day.

And Shiwang`andu Area Member of Parliament Steven Kampyongo said it is significant that political parties promote peace and unity in the Country instead of violence.

Mr. Sinkamba points out that political Party Leaders must embrace the unity of purpose as Leaders by taking a key leading role in promoting peace.

“ I appreciate the tremendous works that Shiwang`andu Area Member of parliament Stephen Kampyongo is doing in Shiwang`andu constituency, “ he said.

Development should be at the core centre adding that political parties acknowledge development facilitated by Government and avoid violence in order to embrace peace, he reasoned.

“Disregarding those in power should not be the case however those in the opposition political parties must give credit where it`s due and appreciate works delivered by the PF Government, ” said Mr. Sinkamba.

The opposition party leader said this after witnessing the handover of building materials at Chilombo Primary School to facilitate for the completion of a 1×3 classroom block, on which construction works have reached at roofing level.

Mr. Sinkamba has further appreciated the works that Mr. Kampyongo is doing in Shiwang`andu constituency especially in improving the education sector and Health.

Meanwhile, Shiwang`andu Area Member of Parliament Steven Kampyongo said it is significant that political parties promote peace and unity in the Country instead of violence.

Mr. Kampyongo has commended Green Party Leader Peter Sinkamba for adding something towards the bill to procure iron sheets for Chilombo Primary School.

The lawmaker, who is also Minister of Home Affairs, has since thanked Mr. Sinkamba for the gesture and said that the materials procured will go a long way in completing the infrastructure.

Pharmacist calls for withdrawal of faulty syphilis test kits

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A Ndola-based pharmacist Jerome Kanyika has advised the government to withdraw syphilis test kits being distributed to health centers countrywide.

Mr. Kanyika is of the view that investigations conducted by pharmacists across the country have shown that the kits are faulty as the don’t give correct results.

“The test kits are giving incorrect and inconsistent results, if you test a sample, the result can show positive on a negative person and vice versa.” Mr Kanyika said.

He noted that patients are being asked to start taking antibiotics which may result in resistance to such drugs and reduce effectiveness of proven treatment for Sexually Transmitted Infections ( STIs).

It is disheartening to see the country commemorate antimicrobial resistance awareness week with such situations obtaining on the ground, observed the pharmacist.

Mr Kanyika said the use of the faulty syphilis test kits in most hospitals and clinics in the provincial capital poses a great danger to human life.

He added that government and other relevant authorities must take the supplier of the faulty test kits to book and this should serve as a warning to other suppliers to safe guard the lives of the Zambians.

Nevers Mumba urges President Lungu to reject COVID-19 vaccines until local verifications are done

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MMD leader Nevers Mumba has advised President Edgar Lungu to reject the Covid-19 vaccines until verifications by local experts are conducted on the safety of the vaccines.

Dr Mumba said President Lungu should not be quick to accept the donated vaccines as they may put lives of the Zambian people at risk.

Dr Mumba who is a former Vice President in late President Mwanawasa’s administration recalled how Dr. Mwanawasa refused to receive a donation of GMO maize from the USA at the height of one of Zambia’s worst droughts.

“His argument was that as a country we did not have a legal framework to contain such a donation. He further explained that he was not sure of future agricultural implications the donation would have on the Zambian people. So he declined the offer,” Dr Mumba recalled.

“Our hope is that President Edgar Lungu shall emulate the Patriotism of Late President Levy Mwanawasa in the case of the COVID-19 Vaccine,” he said.

He maintained that the efficacy of the vaccines must be verified by local experts.

Zambia is expected to start administering Covid-19 vaccines next month following the approval from COVAX, a global initiative with the aim of ensuring rapid and equitable access to the vaccine by all.