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Government Pledges K1 Billion Support To InvestTrust -In Possession

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Government has pledged K1 billion support to Investrust-in possession to ensure that depositors do not lose their money.

Bank of Zambia (BOZ) Governor Denny Kalyalya said the Central Bank requested for government support in paying out depositors of the Investrust bank – in Possession so as to protect the integrity and stability of the financial sector.

Dr Kalyalya said this during a Press briefing at the Bank of Zambia in Lusaka.

Dr Kalyalya disclosed that at the point of taking over the bank, it had an estimated insolvency rate of K850 million.

“However, this is a preliminary position, which will only be confirmed once we have concluded the preparation of the Statement of Affairs. In addition, Investrust Bank-in-Possession had pre-existing liquidity challenges which became serious in recent months, thereby compelling it to resort to the expensive short-term funding sources,” he explained.

Dr Kalyalya explained that what was asked of the government is K1 billion support as a buffer as it is a tentative number that may go down once the Statement of Affairs has been concluded.

“This possession, like any other possession decision, is a very difficult one and is not taken lightly by BOZ because financial institutions operate on the basis of trust of the people they serve. Their failure has significant consequences on their clients,” he said.

Dr Kalyalya explained that when licensing an institution to operate as a bank, BOZ expectation is that the institution being licensed must succeed in playing their role of providing financial services to their clients and the economy at large.
In order to clear the misconception surrounding the possession of Investrust Bank, he cited the amended 2020 BOZ Act which provides no timeframe for the preparation of the Statement of Affairs.

“We expect that within six weeks we should be able to present this Statement of Affairs. Our concern was that, one day you wake up and the bank does not open. The action to possess Investrust Bank was to forestall further deterioration of the value of the assets, protect depositors and ultimately preserve financial stability,” he added.

Dr Kalyalya assured the depositors that their deposits are safe as the government will provide support to bridge the gap between the assets and liabilities of Investrust-in-Possession.

He explained that this fiscal support is critical in the context of the need to protect the integrity of the financial system and to support other key measures to promote growth and financial inclusion.

Meanwhile, Deputy Governor Operations Francis Chipimo narrated that the possession process involved sending staff to all the 20 branches of Investrust-in-Possession, located in six provinces including the head office to verify monies held by the branches and secure the important documents and assets.

Dr Chipimo stated that the staff were further requested to stay home while the possession proceeds.
“The BOZ will facilitate the first payment to all depositors up to a maximum of K500,000. This payment will cover over 90 percent of the total deposit accounts,” he added.

Dr Chipimo appreciated and commended the government for the support and collaboration provided in the whole possession exercise, further saying BOZ will continue to provide periodic updates to the public on the status of the possession through print and digital platforms.

He further appealed to customers with outstanding loans to remain current on their outstanding loans and will be advised where to make their loans repayments.

ZANIS

Zambia Public Procurement Authority Director General Fired

President Hakainde Hichilema has terminated the appointment of Zambia Public Procurement Authority –ZPPA- Director General, Idah Chella with immediate effect.

This is pursuant to Article 270 of the Constitution.

President Hichilema thanked Mrs. Chella for the service she rendered to the people of Zambia and wished her well in her future endeavours.

This is according to a statement issued by State House Chief Communications Specialist Clayson Hamasaka.

Building Trust in Business Transactions

By Thabo Molefe

Credit bureaus serve as crucial intermediaries in leveraging data to bridge the gap between formal and informal economies, enabling access to formal credit for previously excluded individuals and fostering economic expansion through trust-building financial transactions, while addressing challenges such as loan stacking through comprehensive data analysis, and promoting financial inclusion via advanced technologies and strategic partnerships, thus shaping Africa's financial future positively.

Building Trust in Business Transactions

Operating a business today is almost impossible without the insights and understanding provided by data. Data enables informed decision- making, problem solving, deeper business and customers insights,and enhances operational efficiency and agility.
Data, in the context of a credit bureau, has become integral to the success of many financial services organisations across the continent. Enabling lenders to identify associated risks and possibilities with their customers, tapping into new customer segments, ultimately increasing their market share.If organisations only use their own data for lending decisions, they can quickly become isolated. This is where credit bureaus ensure fairness and inclusion by creating an enabling environment for trusted data-sharing between providers to create a more comprehensive view of the market.

In Africa, informal transactions have long been the norm, driven by a growing informal sector that sustains many livelihoods. Formalising these transactions is crucial for expanding economic opportunities and fostering trust. At TransUnion, we bridge this gap by consolidating data from every possible source, including formal financial institutions and even telecoms services providers. By aggregating this once disparate data, we can provide a comprehensive view of individuals' financial
behaviours to empower lenders to make more informed decisions.

Consider for example, the story of a small-scale trader who starts by selling vegetables at a local market.By considering alternative data, this trader's economic activities, such as mobile transactions, utilities services and municipal payments, can be captured and analysed to create a credit profile. Armed with this information, the trader can access formal credit facilities to expand their business, ultimately becoming part of the formal economy and being able to grow.

Economic expansion

The sharing of credit information among businesses, financial institutions, and credit bureaus is instrumental in driving this economic growth. By bringing individuals from the informal sector into the financial mainstream, data-sharing based on the concept of ‘give to get’ facilitates greater access to credit and financial services. For example, we can leverage alternative data sources such as mobile payment histories and electricity bill payments to assess individuals; creditworthiness, thereby providing previously credit-invisible individuals with credit scores and access to formal credit.This increased data sharing has already yielded noticeable economic benefits, particularly in East Africa.Kenya, for instance, has seen a significant shift in credit inclusion, with formerly excluded individuals now accessing formal credit facilities. By harnessing data analytics and behavioural scoring models, we are empowering lenders to extend credit to individuals not purely based on traditional metrics like payslips but rather on their financial behaviours.

Navigating challenges

Greater inclusion does not come without its share of challenges. The continent has a diverse landscape with many data holders believing they do not need access to credit bureau data. Some even consider data sharing as a threat to their competitive advantage. Yet, we emphasise the mutual benefits of data sharing, including fraud prevention and having a more comprehensive view of customers to enable more informed lending decisions that benefit both the consumer and the lending institution.
For instance, a practice referred to as loan stacking has gained significant momentum. This is where bad players come onto the books of credit providers by applying for smaller loans from multiple lenders with no intention of repaying them. Loan stacking has become a challenge for many service providers.

However, by accessing consolidated credit bureau data, lenders can protect each other by having a holistic view of all customers. This also quickly highlights any fraudulent trends to be aware of. By embracing advanced technologies like cloud computing and machine learning, we can ensure data is secured and its analysis is done with stringent data privacy regulations in mind. We are also embracing strategic partnerships with reserve banks across the continent and adopting mobile-based solutions. For us, it comes down to financial inclusion, particularly among marginalised groups like women. Initiatives such as Rwanda’s Menyesha app enable individuals to access credit scores easily, fostering trust and transparency in financial transactions. This highlights the need to embrace alternative data in driving economic growth.

In East Africa, our expertise in accessing alternative data from various non-traditional sources fuels innovation and attracts FinTech investment. The future of financial inclusion in Africa lies in the continent’s ability to harness technology for trust-building and financial inclusion. By adapting to diverse economic landscapes and embracing data-driven solutions, credit bureaus play a critical role in shaping the continent’s financial future.

The author is Head of Africa Regions at TransUnion

Luanshya sees a new dawn: Shaft 28 emerges after two decades of dormancy

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Luanshya Copper mines revitalized
De watering of Shaft 28 at Luanshya Copper Mines on the Copperbelt

Luanshya witnessed a pivotal moment as President Hakainde Hichilema inaugurated the de-watering of Shaft 28 at Luanshya Copper Mines, Copperbelt. His ambitious plans include revitalizing the economy and creating over 3,000 jobs. Once operational, the mine is projected to produce 40,000 metric tonnes of copper. The $500 million investment by China Non-Ferrous Metals Corporation promises to breathe new life into Luanshya’s mining sector, which has been dormant for nearly two decades.

President Hakainde Hichilema yesterday commissioned the de-watering of Shaft 28 at Luanshya Copper Mines on the Copperbelt. The President announced ambitious plans aimed at revitalizing the local economy and creating over 3,000 jobs through the dewatering of Shaft 28 at the old Luanshya Copper Mines.The mine is expected to produce about 40,000 metric tonnes of copper once operational.

The groundbreaking ceremony, which marked the commencement of the dewatering process, was hailed as a significant milestone in the enduring relationship between Zambia and the People’s Republic of China. President Hichilema expressed gratitude to President Xi Jinping and the China Non-Ferrous Metals Corporation (CNMC) for their investment in the mine, which promises to inject new life into the region’s mining sector.

The Luanshya Copper Mine, also known as Shaft 28, has been dormant for nearly two decades. The $500 million investment by CNMC will not only create thousands of direct jobs but also stimulate economic growth in Luanshya and the Copperbelt region as a whole.

This mining project incorporates cutting-edge technology, featuring a state-of-the-art pumping system capable of relocating 170 million cubic litres of water to the Kafue River. This system will not only facilitate water evacuation but also support a variety of agricultural activities, including fish farming, en route.

“This moment holds a special emotional significance for some of us. Since our time in opposition, each visit to this place, made under challenging political circumstances such as violence and arrests, had been accompanied by our steadfast commitment to rejuvenate this valuable asset upon our election into office.We therefore worked quietly but fiercely to develop comprehensive plans for the revival of the Luanshya Copper Mines. Therefore, it is with immense joy and satisfaction that we witness the fruition of this project as a fulfilment of promise to the people of Luanshya.

We dedicate this achievement to the people of Zambia, who have entrusted us with the constitutional mandate to serve in public office. We commit to improving their livelihoods through such ventures.” President Hichilema said.

President Hichilema emphasized the government’s commitment to delivering development and improving livelihoods for all Zambians. He assured the people of Luanshya that his administration is dedicated to reviving the mining sector and creating employment opportunities across various industries.

The Head of State thanked the people of Luanshya for believing in his administration that has started achieving deliverables within two years of forming government.

“Our duty is to make sure that shaft 28 comes back into production which will create jobs for the people of Luanshya,” President Hichilema said.

President Hichilema added that just like the Mopani transaction, his administration is also fixing Konkola Copper Mine and Mingomba Mines, a deal that is in the pipeline.

Minister of Mines and Minerals Development Paul Kabuswe echoed the President’s sentiments, stating that the government has fulfilled its promise to revamp the mines. He highlighted the significance of the Shaft 28 project in contributing to Zambia’s copper production targets and driving economic growth.

CNMC Luanshya Copper Mine Chairperson Wang Jingiun outlined the technical aspects of the project, stating that approximately 170 million cubic meters of water will be pumped out using custom-designed pumps. This water will be utilized for electricity generation and agricultural activities, further enhancing the project’s impact on the local economy.

The de-watering of Shaft 28 is expected to produce about 40,000 metric tonnes of copper once operational, contributing significantly to Zambia’s national production targets.

Luanshya residents during the commisioning of the de-watering of shaft 28

Meanwhile Minister of Infrastructure, Housing and Urban Development Charles Milupi promised that Chisenge-Luanshya Road will be improved into a first-class tarmac road.

Earlier, Minister of Local Government and Rural Development Gary Nkombo disclosed that his Ministry will gift Luanshya with 11 kilometers of tarmac road.

Mr Nkombo urged the people of Luanshya to support President Hichilema’s agenda of developing all sectors of the economy in all parts of the country.

And Minister of Youth, Sport and Arts Elvis Nkandu implored the youths of Luanshya to take advantage of the empowerment opportunities that government is currently experiencing.

Meanwhile, Roan Member of Parliament Joel Chibuye charged that the local people are a priority when it comes to employment opportunities and other empowerment programmes.

As the de-watering process commences, anticipation is high among the residents of Luanshya, who eagerly await the positive impact this project will have on their community and the wider Copperbelt region.

The commissioning of de-watering of shaft 28 in Luamshya
Luanshya residents during the commissioning of the de-watering of shaft 28
Luanshya
Excited Luanshya residents rush to greet President Hichilema at the chagrin of the security

Highlighting Grey Issues In The Review Of the Land Act

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Dr. Henry Kanyanta Sosala

PART 1

A Philosopher once said: ‘’Don’t ever dare to underestimate the power of stupid people.’’

The guideline on the role of chiefs in the land administration can only be drawn from the creation of Native Trust Lands, by Northern Rhodesia (Native Trust Lands) Orders-in-Council 1947, which was meant to benefit the indigenous people. This Act obliged the Governor (the representative of His Majesty’s the King of England) to consult the Native Authority before land in the Trust Lands was assessed for any purpose. And Barotse and Native Authority were being run by chiefs. And after attaining our independence “Native Trust Land” was substituted for ‘’Customary Land.’

customary land is protected by the Raoul Wallenberg Institute Compilation of Human Rights Instruments under the Convention Concerning Indigeneous and Tribal Peoples in Independent Countries as stated in article 7:1:’’The peoples concerned have the right to decide their own priorities for the process of development as it affects the lives, beliefs, institutions and spiritual well-being and the lands they occupy or otherwise use, and to exercise control, to the extent possible, over their own economic, social and cultural development.’’ And article 14:1 states: ‘’The rights of ownership and possession of the peoples concerned over their lands which they traditionally occupy shall be recognized.’’ Article 17:1 further states: ‘’Procedures established by the peoples concerned for the transmission of land rights among members of these peoples shall be respected.’’

In article 17:3 the Human Rights Instruments further protects tribal people from foreigners who might try to use unreasonable local stooges who think more of filling their stomachs than anything else to help alienate land: ‘’Persons not belonging to these peoples shall be prevented from taking advantage of their customs or lack of understanding of the laws on the part of their members to secure the ownership, possession or use of land belonging to them.’’

Land issues are crucial, critical, sensitive and important in human life and that is why history has recorded so many wars on land. And the fundamental basis of the existence of the institution of chiefs is to diligently protect the interests of the vulnerable rural peasants against the manifestations of the powerful evil forces, especially those who entered into the corridors of power in 1991. And after putting all our national assets on grand sale and benefiting heavily from the proceeds, they have since been scheming ways to alienate customary land through various fake Land Acts and the document in fake review is no exception. For example whereas in section 3 (4), innocently seems to state: ‘’Notwithstanding subsection (3). The President shall not alienate any land situated in district or an area where land is held under customary tenure.’’ In actual fact a further scrutiny reveals a subtle scheme where more powers on land issues have been deliberately given to the Commissioner Lands. We have clearly seen it in the activists of the Speaker, the Registrar of Societies, the DPP or other sensitive areas..
And the bottom line is to consignee the poorest of the poor to slavery far worse than death itself. The late Mr. Simon Mwansa Kapwepwe, warned Zambians just when we got our independence: “you must love your land for which so much blood has been shed, because if you lose it you will have nowhere to go since God has stopped creating countries.”

It is therefore imperative for chiefs who form a vital element in the rural societies and who play an important role in the matters affecting the rural populations to come out of their shells and openly, courageously and strongly oppose the manifestations of these evil elements. There is absolutely nothing to fear about politicians because so long as the human heart is strong and human reason weak, tradition will be strong since it appeals to diffused feelings and politics weak because it only exists on false promises and misleading information.

Adolf Hitler in his book Mein Kampf (which is a must for every politician) wrote: ’’Popular support is the first element which is necessary for the creation of authority. But an authority resting on that foundation alone is still quite frail, uncertain and vacillating. Hence everyone who finds himself vested with an authority that is based only on popular support must take measures to improve and consolidate the foundations of that authority by the creation of force. Accordingly, we must look upon power, that is to say, the capacity to use force, as the second foundation on which all authority is based. This foundation is more stable and secure, but not always stronger, than the first. If popular support and power are united together and can endure for a certain time, then an authority may arise which is based on a still stronger foundation, namely, the authority of tradition. And, finally, if popular support, power and tradition are united together, then the authority based on them may be looked upon as invincible.’’

Owen Sichone wrote: ‘’In recent surveys of public opinion in rural South Africa, it came as a surprise to many to find that chiefs who were denounced as puppets of apartheid only a few years ago, are today more popular than the democratically elected party officials who rule the country. The reasons are simple and I am sure many Zambians will have no difficulty sympathizing with their South African counterparts. First of all, they say, ‘the nkosi is always here.’ Secondly, ‘He is suffering with us.’ In short, he does not zoom by in a BMW like the politicians who after being elected into office disappear into the world of business and credit card shopping. Those are the credentials of our chiefs, they are closer to the people than any other political institution.’’

Hezbollah’s success as an effective practitioner in the art of grass-root politics has a great bearing to traditional leadership in this country, because by using grass-root approach, Hezbollah has been able to convert the ignored Shi’ite underclass of southern Lebanon into a powerful lever in regional politics. The lesson is clear: chiefs being close to the underprivileged are more than able to work in the under-belly of local politics, as Hezbollah has done, since we are certainly very much aware of local pressure points and the knowledge of how to press the buttons and to get the desired results..
I believe from the outset it is of vital important to try and trace the backgrounds of those who came into power ir 1991.Dr Kamoyo Mwale was a career intelligence officer who had been trained by KGB. ‘’Zambia at the time, the drug dealers had over-run the economy. They were really controlling the economy……….. so most of the drug traffickers joined the opposition MMD.’’ So we can note the questionable backgrounds.

A few years later The Post observed in the editorial: ‘’We have lost a lot in terms of our sense of humanity over the last 15 years. The man-centred society that KK and his comrades tried to build in this country has been substituted by a society of wolves, hyenas and jackals which is centred in greed and vanity where those who are shrewd, who are daring, the most crooked can steal everything and become rich, leaving nothing for the poor and the disabled.’’ (ibid. 18th September 2006).

The South African Communistn Party, Secretary-General, Dr. Blade Nzimande visited this country at the invitation of The Post newspaper and here is what he observed: ‘’The one striking feature of the Zambian society is the extent to which the structural adjustment policies pursued by the Chiluba presidency have rolled back many of the gains made during the first two decades of Zambian independence after 1964. We found, amongst many of those we met a re-emerging nostalgia for the Kaunda presidency and the advances made then in the fields of education, health and provision of other basic services. The Chiluba presidency privatized virtually all the state-owned enterprises, leading to massive job losses and the rolling back in the provision of education and health services in particular.’’ (Sunday Post 9th April 2006)

It is stated in section 31 (2) (3) in the current draft: ‘’When the chief refuses consent, he shall communicate such refusal to the applicant and the Commissioner of Lands stating the reasons Form II as set out in the Schedule.’’ Remember what I earlier wrote about the powers of the Commissioner of Lands. And now note that this has just been twisted and reworded from the Mungomba draft Constitution which we rejected
(3) ‘’Customary land shall not be alienated or otherwise used until the approval of the chief and the local authority in whose area the land is situated has first been obtained and as may be provided by or under an Act of Parliament.’’
(4) ‘’An approval under clause (3) shall not be unreasonably withheld.’’
The first anomaly I had noticed was that this article (4) never appeared anywhere in Interim Report of the Constitution Review Commission and it was therefore smuggled into the NCC Draft Constitution by the technocrats as part of the foreign conspiracy to alienation customary land
And it is just too much of a coincidence that the same clause with the same wording has appeared the Minerals Regulation Commission Bill 2023. This therefore means that the cartel with their foreign -backers have taken advantage of the New Dawn Administration to carry out the alienation of the minerals without interference from traditional authorities. And in fact most of the license-holders are foreigners..
PART IV
MINING RIGHTS AND SURFACE RIGHTS
41. (1) A holder of a mining right or mineral processing licence shall not exercise any rights under this Act—
(a) without the written consent of the appropriate authority, upon any land—
(b) without the written consent of the owner or legal
occupier of the land or the duly authorised agent—
(c) upon land occupied as a village, or other land under customary tenure without the written consent of the chief and the local authority for the district in which the village is situated;
(3) Where any consent required under this subsection is unreasonably withheld, the Commission may arrange for arbitration of the matter in accordance with section 45.

My argument has first been that commissioners should not have in both instances resorted to apply the derogatory word ‘’unreasonable.’’ My dictionary defines the adjective ‘’stupid’’ as ‘’silly or unreasonable showing usually poor judgment or little intelligence.’’ It is heart-wrenching to use such derogatory language to describe the state of the minds of traditional leaders and their subjects in such important national government documents. In fact it is only an unreasonable or stupid chief who would withhold land unreasonably. And furthermore, the wording ‘’unreasonably’’ is not only very ambiguous but also relative. There are no reasonable parameters attached in both cases which clearly define what may constitute ‘’unreasonableness.’’ The said clauses do not specify the authority that shall declare the decisions of traditional authority or their subjects to be unreasonable or stupid. However, in the current draft, it is the Commissioner of Lands who would be declaring chiefs to be unreasonable.
The final authority in land allocations shall be the Commissioner of Lands as stated in 31 (3) 3: ‘’The Commissioner of Lands shall accept or refuse to accept the recommendationsand shall inform the applicant accordingly. Article 31 (6) states: ‘’A person aggrieved by a decision of the Commissioner of Lands may appeal to the Land Tribunal.’’ This means even the chiefs will have to appeal to the Lands Tribunal..
And what must be very clear is that now officially chiefs and their subjects are unreasonable because the document has been drafted and approved by Mulilo Kabesha, a State Counsel which means he is a top-notch government legal expert.

However, our leaders are flirting with disaster and these manifestations have all along been closely watched bu the international community. And here is what the United Nations special rapporteur, Hilal Elver cautioned that many Zambian peasants were at risk of becoming squatters on their own land as Zambia was being turned into Southern African’s food basket. ‘’The push to turn commercial large scale agricultural into a driving engine of the Zambian economy is a situation where the protection of access to land is weak, can risk pushing small-holder farmers and peasants off their land and out of production with severe impacts on the people’s right to food….. This situation is particularly worrying considering that small-holder farmers account for almost 60 percent of the population and are dependent on land for their subsistence and livelihood. In a country like Zambia that highly values its peace and social cohesion, the impacts of increasing land tensions could be detrimental.’’ (Daily Nation 13th May 2017) (emphasis mine)

And in this respect, note the words of Professor Vincent Harlow who referred to a widely held view that tribal power in Africa is on the way out and he asks whether the assumption is valid: “We may be misled, if we mistake revolutionary changes in tribal customs for decay. The potency of resurgent tribal power should not be underestimated, on the contrary is dynamic power should be harnessed to the task of national building.” (Tribalism in Africa: Journal of African Administration).

 

Zambia’s Yvonne Tamaka – One of Africa’s only 3 Ventriloquists

Meet the Zambian Lady and her speaking doll.Yvonne Tamaka is only one of the three professionals in Africa who give puppets a voice.

O.J Simpson, Football Star and Figure of Controversy, Dies at 76

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O.J. Simpson displays his hands to the jury at the request of prosecutor Christopher Darden in this file photograph from June 15, 1995 as his attorney Johnnie Cochran, Jr. looks on. (Sam Mircovich/Reuters)
O.J. Simpson displays his hands to the jury at the request of prosecutor Christopher Darden in this file photograph from June 15, 1995 as his attorney Johnnie Cochran, Jr. looks on. (Sam Mircovich/Reuters)

O.J. Simpson, the former football star, actor, and pitchman whose life was marked by triumphs on the field, brushes with the law, and a murder trial that gripped the nation, died on April 10. He was 76.

The news of Simpson’s passing was confirmed by his family in a statement posted on his X account. According to the statement, O.J Simpson lost his battle with cancer while surrounded by his children and grandchildren. The family has requested privacy during this time.

Simpson’s life was a mix of glory and infamy. Born on July 9, 1947, in San Francisco, he rose to fame as a football sensation at the University of Southern California, earning the prestigious Heisman Trophy in 1968. His remarkable talent led to a successful career in the NFL, where he played for the Buffalo Bills and the San Francisco 49ers.

However, O.J Simpson’s public image was shattered in 1994 when he was arrested for the double murder of his ex-wife, Nicole Brown Simpson, and her friend Ronald Goldman. The highly publicized trial, marked by dramatic moments such as the infamous glove fitting, ended in Simpson’s acquittal, a decision that sharply divided the nation along racial lines.

Despite his acquittal in the criminal trial, O.J Simpson was later found liable for the deaths in a civil judgment and ordered to pay $33.5 million in damages to the victims’ families. His life took another tumultuous turn in 2008 when he was convicted of armed robbery and kidnapping in a separate incident in Las Vegas.

O.J Simpson’s post-football career included acting roles in movies and television, most notably in the Naked Gun comedy series. He also became a prominent spokesperson for various brands, leveraging his celebrity status for commercial endorsements.

Throughout his life, Simpson remained a controversial figure, with his every move scrutinized by the public and media. Despite his legal troubles, he maintained his innocence in the murders of Brown Simpson and Goldman, vowing to find the true killers until his death.

O.J Simpson’s legacy is a complex one, reflecting the complexities of fame, race, and the American justice system. His story continues to captivate audiences, as evidenced by the numerous documentaries and dramatizations that have explored his life and trial.

As news of O.J Simpson’s death reverberates, the debate over his legacy and the enduring impact of his actions is sure to continue for years to come.

President Hichilema Inaugurates 60MW CEC Itimpi Solar Plant in Kitwe

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President Hakainde Hichilema inaugurated the 60-megawatt Copperbelt Energy Corporation (CEC) Itimpi Solar Plant in Kitwe. The completion of this project in record time garnered applause, with congratulations extended to the company for their remarkable achievement.

The commissioning of the Itimpi Solar Plant comes at a critical juncture as Zambia and the surrounding region face a severe power shortage, posing threats to energy, food, and ultimately national security. President Hichilema emphasized the timeliness of this initiative, especially amidst the challenges posed by the El Niño-induced impacts on hydroelectric power.

In his address, President Hichilema underscored the importance of diversifying the energy sector in response to the effects of climate change. He highlighted the government’s commitment to bolstering the economy, which necessitates increased energy capacity to support various sectors.

The investment by CEC in the Itimpi Solar Plant is hailed as a significant milestone in achieving diversification within the energy sector, with the potential to mitigate the current power deficit in the country.

Energy Minister Peter Kapala echoed these sentiments, emphasizing the plant’s timely contribution to promoting alternative energy sources, which will help alleviate the power shortfall in Zambia.

CEC Managing Director Owen Silavwe emphasized the need for collaboration among energy sector players, particularly in light of the current drought conditions. He stressed the importance of working together to meet the growing demand for power in the country.

London Mwafulilwa, the Chairperson of the CEC Board, highlighted the positive socio-economic impact of the project, noting that over one thousand jobs were created during the construction phase, further demonstrating the tangible benefits of investing in renewable energy infrastructure.

The commissioning of the Itimpi Solar Plant not only marks a significant step forward in addressing Zambia’s energy challenges but also sets a precedent for sustainable development and cooperation within the energy sector.

President Hichilema honours MSMES, Pledges more support

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President Hakainde Hichilema has honoured 44 innovative and job-creating Micro, Small and Medium Enterprises (MSMEs) and cooperatives from across Zambia’s 10 provinces at the inaugural Citizens Economic Empowerment Commission (CEEC) Presidential Awards ceremony.

Delivering the keynote address in Lusaka, Minister of Small and Medium Enterprise Development, Elias Mubanga, the Head of State, said his government remains committed to rebuilding the economy through a robust private sector dominated by MSMEs.
“Since my government came into power in 2021, the empowerment fund increased from K41 million to K350 million in 2022, K398 million in 2023, and K397 million in 2024. This increase in funding is expected to show in terms of improvement in the number of MSMEs accessing finance which should translate into improved performance and ultimately increase in job creation,” President Hichilema stated.

The President said the awards recognise MSMEs’ innovation, business growth, and job creation efforts in line with his administration’s three key pillars of economic development through the MSME sector.

15 enterprises were awarded for exhibiting innovation, another 15 for outstanding contributions to job creation, while 14 were honoured for demonstrating growth over two financial years.

“The funds you are receiving should be utilised to further grow your businesses and aspire for bigger awards. The government is committed to ensuring you receive support beyond this stage. The desire is to see you remain sustainable and resilient,” President Hichilema told the awardees.

The Head of State reaffirmed governments move to promote innovation through initiatives like the National Innovation Fund under the Ministry of Technology and Science.

He congratulated CEEC for spearheading the awards, saying the commission should continue motivating and inspiring more MSMEs to participate.

Over 100 MSMEs from across the country competed for the prestigious Presidential Awards this year.
And Citizens Economic Empowerment Commission Board Chairperson Mr. Jason Kazilimani has assured MSMEs of the commissions support.

Mr. Kazilimani said MSMEs play an important role in the production cycle and job creation in Zambia.
He added that the commission is committed to resolving the challenges faced by MSMEs and cooperatives, such as access to finance and business infrastructure.

UPND Secretary General Expresses Gratitude to Chinese Communist Party for Strengthening Relations

Batuke Imenda, the Secretary General of the United Party for National Development (UPND), extended his appreciation to the Chinese Communist Party (CCP) for its efforts in bolstering relations with Zambia’s ruling party.

Imenda stated that the UPND seeks to learn from the CCP due to its extensive experience and status as one of the largest political parties globally. He further conveyed gratitude to the CCP for organizing cultural exchange visits, providing UPND members with opportunities to immerse themselves in Chinese culture and political history during recent visits to China.

These sentiments were expressed during a meeting between Imenda and Li Mingxiang, the Chinese Deputy Minister in the International Department of the CCP Central Committee, held at the UPND Secretariat in Lusaka.

Collins Maoma, the acting National Chairman of the UPND, also spoke at the meeting, expressing appreciation to China for its assistance in restructuring Zambia’s debt.

In response, Li emphasized that his visit aimed to strengthen relations with the UPND, particularly following President Hakainde Hichilema’s visit to China in 2023. He expressed satisfaction with the consensus reached between the two parties to enhance engagement.

Li reiterated the CCP’s commitment to utilizing various avenues of cooperation, including cultural exchange visits, to foster stronger ties between the two political entities.

The meeting underscored the ongoing efforts to enhance bilateral relations between Zambia and China, with both parties expressing mutual interest in furthering cooperation across multiple fronts.

Cybercrime Bust Unveiled by Zambia’s Law Enforcement

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April 9th A raid was conducted on Golden Top Support Services, located in Roma, Lusaka, uncovering a sophisticated internet fraud syndicate.

Cybercrime, a growing concern globally, witnessed a significant setback in Zambia through a collaborative effort between the Drug Enforcement Commission (DEC) and various law enforcement agencies. Under the leadership of an inter-agency framework agreement, the operation engaged the Zambia Police (ZP), Department of Immigration, and Anti-terrorism organizations in a concerted effort to combat illicit cyber activities.

In a collaborative effort between the Drug Enforcement Commission (DEC) and various law enforcement agencies, a significant breakthrough in the fight against cybercrime has been achieved. The operation, conducted on April 9th ,led by the inter-agency framework agreement, involved the Zambia Police (ZP), Department of Immigration, and Anti-terrorism organizations.

The culmination of extensive intelligence operations led to a raid on Golden Top Support Services, situated in Roma, Lusaka. This raid exposed a sophisticated internet fraud syndicate operating within the country. Among the discoveries made during the operation were Sim Boxing Machines, which were facilitating the bypassing of local service providers’ networks for fraudulent activities, including internet fraud and online scams.

The scale of the operation became apparent with the seizure of over 13,000 SIM cards, both domestic and international. Among these were 1,742 Vodafone SIM cards, 7,778 MTN SIM cards, and 4,016 Airtel SIM cards, along with 11 sim boxes, indicating a widespread network of illicit activities.

It was uncovered that the organization had employed unsuspecting Zambian youths, primarily aged between 20 and 25, under the guise of call center agents. These individuals were tasked with engaging in deceptive conversations across various platforms, such as WhatsApp, Telegram, and chatrooms, using scripted dialogues to defraud unsuspecting mobile users.

The illicit operations of the syndicate extended beyond Zambia’s borders, with evidence pointing towards sophisticated mobile and internet communications with individuals in countries such as Singapore, Peru, and the UAE, among others.

A total of 77 suspects were apprehended during the operation, comprising 50 males and 27 females from Zambia, along with 23 foreign nationals, predominantly 22 Chinese nationals and one Cameroonian. Several foreign nationals were found to be residing in the country without proper documentation.

Following the raid, 17 Zambian suspects were released, while 60, along with 22 Chinese male adults and one Cameroonian, were detained for further questioning.

Seized items included 93 desktop computers, 42 new and boxed computers, one laptop, a satellite gadget, and other ICT-related equipment. Furthermore, two firearms, a Beretta and a Sig Sauer, along with 78 rounds of ammunition, were seized. Additionally, two motor vehicles, including a black Alphard motor vehicle and a Toyota Land Cruiser, belonging to a Chinese national linked to the business, were seized.

The DEC emphasized the alarming rise in internet fraud cases, leading to substantial financial losses for citizens and contributing to various forms of money laundering schemes. As technology continues to advance, the Commission remains vigilant in combating cybercrime and protecting the interests of the Zambian populace.

22 Chinese male adults and one Cameroonian, were detained for further questioning during the cybercrime bust in Roma Lusaka
April 9th A raid was conducted on Golden Top Support Services, located in Roma, Lusaka, uncovering a sophisticated internet fraud syndicate.

The State Of Electrical Wiring At UNZA and CBU

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By Michael Musonda

Electrical wiring is a critical component of modern infrastructure, enabling the delivery of electricity to various points of use. However, the electrical wiring at our two highest institutions of learning often raises concerns that must be addressed urgently, especially in light of the recent incident involving the death of a female student allegedly due to electrocution.

One major challenge faced by both universities is outdated electrical wiring systems, which have not been updated to meet current load and revised safety standards since the construction of the buildings many decades ago. This can lead to issues such as overloaded circuits, insulation degradation, and inadequate earthing, significantly increasing the risk of electrical accidents.

Additionally, there is evidence of little to no maintenance of electrical systems as shown by pictures circulating on social media and our investigations.

Another issue to note is overcrowding in university hostels, which has led students to modify electrical outlets or install additional ones to provide more points for access. This DIY approach, often carried out by unqualified individuals, can further compromise electrical safety.

Furthermore, the two learning institutions were designed to have centrally located cooking places and dining rooms, which no longer exist, leading to students using cookers, fridges, and other appliances in their rooms. This additional load may not have been accounted for in the original wiring, creating further safety concerns such as overloading.

To improve the state of electrical wiring at these universities, as an electrical safety advocate, I recommend the following measures:

  1. Conducting a detailed electrical wiring system audit with a focus on safety
  2. Upgrading outdated electrical wiring systems to meet current load and safety standards
  3. Instituting regular inspections and maintenance of electrical systems as per the wiring code of practice and other relevant standards
  4. Implementing /improving a system for reporting and addressing electrical issues.
  5. Raise awareness among students and staff about electrical safety with a focus on hazard identification.

The state of electrical wiring at our two universities is a serious concern and must be treated as such. By prioritizing regular maintenance and raising awareness on the dangers of electricity, the two universities can ensure a reliable and safe electrical system that does not endanger the safety of their students.

Disclaimer: Opinions expressed are wholly mine and do not represent those of my employer.

Zambia Army Commander promotes Copper Queens Captain Barbara Banda

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Zambia Army Commander Lieutenant General Sitali Dennis Alibuzwi has promoted Copper Queens Captain Barbara Banda to the rank of Staff Sergeant following her resilient and leadership role she exhibited in the Morocco vs Zambia Olympic 2024 Qualifiers.

Lt. Gen. Alibuzwi also promoted Green Buffaloes Women’s Football Club first choice goal keeper Ngambo Musole, who made world class saves in Morocco, to her next rank including other players from Green Buffaloes who featured in the match.

Banda scored twice to send the Copper Queens to the Women’s Football tournament to be held in Paris as Green Buffaloes Women’s Football Club Go Minder- Ngambo Musole made superb saves to prevent the Atlas Lionessess to find the back of the net.

Lt Gen Alibuzwi said all the promotion procedures will be followed in awarding Barbara her next rank.

The Commander Zambia Army has since congratulated the Copper Queens for putting up a spirited fight to turn a 2-1 deficit into a 3-2 aggregate triumph following their 2-0 win at Moulay Hassan Stadium in Rabat.

Lt Gen Alibuzwi has, narrowed his congratulatory message to Sergeant Banda for the significant performance and the tenacity she showed on the pitch and ultimately scoring the two crutial goals.

Sergeant Banda opened the scoring for the Copper Queens six minutes before half time and secured the ticket for the Copper Queens to Paris after scoring from the spot in the 105th minute.

With the scores tied 2-2 on goal aggregate, Zambia had GBWFC first choice goalkeeper, Musole to thank as she made world class saves, including one on the goal line.

The commander has since promoted Musole to her next rank including other players from Green Buffaloes that featured in the match.

Zambia and Nigeria will be Africa’s representatives at the tournament, and the Copper Queens will be in Group B alongside USA, Germany and Australia.

First Quarter,2024 Economic Performance Analysis

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By Mwansa Chalwe Snr
This review of the performance of the Zambian economy for the first quarter of 2024, is carried out from the four perspectives of the main players in the economy – the International Monetary Fund (IMF), the Government, Zambian Households and the Private Sector. This approach is meant to make it easy for non-technical ordinary citizens to understand. The analysis is also evidence based, and covers both the quantitative and qualitative angles.

At the time of publication, we did not have the latest IMF assessment of the Zambian economy, and so it was not possible to present their latest performance review of the economy. The last IMF review of the economy was in November, 2023, and their next review is in April,2024.

GOVERNMENT PERSPECTIVE

The quantitative analysis of the Zambian government’s performance is based on two major components: Bank of Zambia data and the Treasury data. At the time of carrying out this analysis, the treasury numbers relating to the budget performance regarding government revenue, expenditure and other metrics, for the first quarter, were not available, and therefore, no analysis has been done from that angle.

However, according to the information available from the Bank of Zambia, the government performed very poorly during the first quarter. The cost of money was high, there was a critical shortage of liquidity in the economy, inflation was high and increasing, the kwacha exchange rate was high and generally unstable. The evidence of this, is reflected in the various Bank of Zambia statistics.

Interest rates as represented by the Monetary Policy Rate went up from 11% to 12.5%, inflation increased from13.1% to 13.70%, Statutory Reserve Ratio increased from 14.5% to 26.5%, the Kwacha exchange rate was high and ranged from K25 and K27, and foreign exchange reserves at the beginning of January,2024 were at a low $3.3 Billion which is equivalent to 3.7months of import cover. And the Central Bank Governor was open about the most important metric in the Zambian economy, which drives most other economic variables.
“ What we are saying is that the Kwacha has been under severe pressure. There has been excess demand for foreign exchange in our market. We recognize that we do not have sufficient and will not have sufficient foreign exchange to defend the currency”, Dr. Denny Kalyalya said.

It should be noted that when assessing the performance of the economy from the government’s perceptive, the analysis is incomplete, if one only uses quantitative metrics only, and ignores the non-financial and qualitive factors.

The Zambian government did perform fairly well based on non-financial measures. They were able to secure a deal with International Resources Holding (IRH), in which IRH committed to invest a total of US $1.1 billion into Mopani Copper Mines (MCM) as a Strategic Equity Partner. The potential upstream benefits of the deal include job creation, foreign exchange earnings, tax income, dividends and corporate social responsibility activities.

The other qualitative achievement by the government in the first quarter was in regard to the debt restructuring deal.The Memorandum of Understanding (MOU) with Official Creditor Committee (OCC) was finally signed by all of them including China and India. The government also concluded a deal with Bondholders.

The potential benefits of the debt restructuring deal include: more funds available for social sectors, normalization of Zambia’s credit rating, improvement in market sentiment by both local and foreign investors, reduction in pressure for government to borrow from the domestic market thus lower interest rates, increased access to grants and concessional borrowing

HOUSEHOLDS PERCEPTION OF THE ECONOMY

The majority of ordinary Zambians’ current perception of the economy is that it is not working for them. Zambian households argue that the cost of living is high. They have no money in their pockets. They justify this claim by pointing to the high prices of mealie meal, fuel, electricity, interest rates, transport, and the high exchange rate.
These claims by citizens seem to be supported by empirical evidence from economic statistical surveys done by various credible organizations. The government owned Zambia Statistics Agency( Zamstats), for example, has reported inflation to have increased from 13.1% in December 2023 to 13.7% in March,2024. The Jesuit Centre for Theological Reflection (JCTR) basket of goods for December,2023 was at K9,157, it increased to K10,603 in March, 2024, which was an increase of K1,446 or 15.8%.

Zambian Citizens also feel that jobs are difficult to come by because the economy is simply not creating enough jobs due to the low economic activity. This is evidenced by Stanbic Purchasing Manager Index (PMIs) for 2024, which were below 50. And apparently, their claim is supported by the International Monetary Fund who are our current benefactors.

“The participation rate in the labour force is low and only 31 percent of the working age population is employed. There are limited employment opportunities, and even among those employed only 27 percent are in formal employment,” IMF wrote in the Zambia Country Report of July 2023, whose situation has not changed.

PRIVATE SECTOR PERFORMANCE EVALUATION

The Zambian private sector performed poorly in the first quarter of 2024 for a variety of reasons. The top most constraint to Private sector growth is the high cost of doing business in Zambia. The term: “high cost of doing business,” is made up many components. These include high interest rates, high fuel prices, high cost of imported inputs, excessive taxation, high electricity tariffs, multiplicity of regulations and licences with their attendant levies. In order for government to achieve the 2024 Budget theme of: “Unlocking Economic Potential,” they should address the above constraints to the growth of the Zambian Private sector.

The quantitative evidence of the poor performance of the Private Sector in the first quarter of 2024, was captured in the monthly Stanbic Purchasing Manager’s Index (PMI)Surveys. Business activity fell throughout the quarter from 49.6 in December,2023 to 48.8 in March,2024. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

Head of Sales at Stanbic Bank, Musenge Komeki, succinctly captured the status of Private Sector performance during the first quarter, in his comments on the monthly Stanbic Purchasing Manager Index ( PMI).

” The private sector health in Zambia declined. Business conditions continued to see a deterioration as a result of reduction in money supply and the depreciation of the kwacha, which have negatively impacted demand. Money shortages crippled new orders and forced cutbacks in output, employment and purchasing activity.” he said.

CONCLUSION

The Zambian economy grew by 4.6% in 2021, 4.7% in 2022 and 4.3% in 2023.It is forecast to grow by 4.7% in 2024. These rates are insufficient for the country to develop, create jobs and reduce poverty. And the IMF agrees with this assertion.

“ Despite its abundant resources, growth has been insufficient to lift its young and growing population from poverty. More than 60 percent of Zambia’s population lives below the international poverty line compared to 35% across the Sub Saharan Countries,” IMF said in a statement reviewing the Zambian economy.
In the light of the general election due in 2026, and having sorted out the debt and mining issues, as well as sufficiently marketed Zambia as a good destination for foreign direct investment (FDI),the government should laser focus on local solutions for job creation through Micro and Small Enterprises (MSEs) in order to create millions of jobs for youths. In the 21st century, Youth determine elections in almost all countries, like they recently did in Senegal.
It has been established by studies that in order for economic growth to have any impact on poverty in developing countries like Zambia, the country’s economic activities ought to be growing at 10 % or more, as China and South East Asia countries have proved. And to achieve this growth rate, it requires innovative solutions, and the engagement of experienced local thinkers, who understand Zambia, its economic problems and its culture better.

The writer is a Chartered Accountant and Author. He is the Founder of a research based virtual Knowledge and Strategy firm, Prosper Knowledge Solutions Limited. Contact : pmchalweATgmailDOTcom.

FAZ Congratulates Copper Queens For Olympic Qualification

The Football Association of Zambia has congratulated the Copper Queens for having qualified for the Paris 2024 Olympic Games after beating Morocco 3-2 on aggregate in the final qualifying round.

FAZ president Andrew Kamanga says the back-to-back Olympic qualification is a culmination of his executive’s long term project to develop the women’s game.

Zambia joins 12 other teams at the Paris 2024 Olympics and will be in Group B alongside USA, Germany and Australia.Kamanga hailed the never die spirit of the Copper Queens that overcame a 2-1 first leg deficit to win 2-0 away and punch their Olympic ticket.

“On behalf of my executive committee and the entire football family, I wish to congratulate the Zambia Women National Team for having qualified to the Paris 2024 Olympic Games. The qualification comes on the back of the team’s debut appearance at the Tokyo 2020 Olympic Games which puts them in a special place,” Kamanga says.

“We have invested heavily in the growth of women’s football in the last six years which has seen them qualify for three Africa Cup of Nations (2018, 2022 and 2024), qualify for the first ever world cup (Australia/New Zealand 2023) and even won bronze at the 2022 WAFCON,” he says.

“These results help reinvigorate our resolve to invest more in the grassroots football. We have channeled the same level of support to the women’s game as the men’s which has triggered the great success we are witnessing today.”

Kamanga says FAZ will make sure that the team is adequately prepared for the Olympics that kick off in July.

“As always, we will stick to our well established routine of organizing quality preparations for our team ahead of the tournament. For now we will allow the team to suck in the moment before we get down to work again,” he says.Zambia will join Nigeria as the only two African envoys at the Paris 2024 Olympic Games.

For and on behalf of:

FOOTBALL ASSOCIATION OF ZAMBIA
Sydney Mungala
COMMUNICATIONS MANAGER