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Opposition United Party for National Development President Hakainde Hichilema says there is no need to tax NETFLIX.
Mr Hichilema says Zambians are already paying tax through data bundles and taxing NETFLIX will be a burden on the already overtaxed Zambians.
In a Tweet, Mr Hichilema said imposing tax on video streaming service will deprive Zambians of entertainment.
But Chief Government spokesperson Dora Siliya has attacked the opposition Leader saying this is a careless way of looking at business.
“You want an American company, Netflix, using our ICT infrastructure paid for by tax kwachas, to enjoy free profits with no local jobs, nor contribution to health education etc. Why do you think USA/China have trade war? Try no taxes in USA”, the Information and Broadcasting Services Minister tweeted.
Information and Broadcasting Services Permanent Secretary Chanda Kasolo disclosed that the government is working towards starting to tax Netflix streaming service in Zambia.
Mr Kasolo said the Zambian government is displeased that some foreign content service providers are making money in Zambia without paying any taxes.
He said the money being generated by streaming services such as Netflix should be made to pay some form of taxes to the Zambian government.
The Zambia Civil Society Scaling Up Nutrition Alliance is concerned that there has been no mention of nutrition in the 2020 National budget on how government intends to specifically deal with malnutrition.
Appearing before the Parliamentary Budget and Estimates Committee Chaired by Mbala Member of Parliament Mwalimu Simfukwe, the Alliance says this raises concern on prioritisation by government given that stunting levels are still high at 35 percent.
Making a Presentation, Alliance Member Mwandwe Chileshe said nutrition has only been catered for in the K1.1 billion allocated to the FISP/E-voucher programme which will not be enough to address the malnutrition challenges.
She noted with concern that of the K1.1 Billion allocated to the FISP Programme, K350 million is reserved to pay outstanding bills related to the FISP/E-Voucher programme which means that actual allocation to the programme next year has reduced almost by half.
Ms Chileshe said “more efforts should therefore be made to ensure that farmers diversify agricultural production by having access to diverse agricultural inputs, livestock, fruit tree saplings and vegetables to allow Zambians to have access to diverse foods”.
Ms Chileshe who is also Global Citizen Africa Lead of Food Security and Nutrition has since recommended that government should ensure availability and easy access to budget information on nutrition in key line ministries to avoid hampering timely analysis and accountability to ensure that Zambia achieves adequate food security and nutrition for all.
She has also recommended that government should continue to support multi-sectoral approach towards improving nutrition to ensure financial commitment of K400 per under 5 child annually.
Ms Chileshe added “Government should increase allocations to undernourished children under five especially given the context of rising food prices and support the diversification of the E-Vouchers system and allocate a percentage of the E-Voucher and Social Cash Transfer to the nutrition vulnerable.
And HIVOS Southern Africa Manager Sustainable Diets William Chilufya said to ensure that more money is allocated for Nutrition, the Food and Nutrition Bill should ensure that the Food Nutrition Commission is placed in the Office of the Vice President and not the Ministry of Health.
Mr Chilufya said nutrition covers a lot of sectors and leaving it in the Ministry of Health limits access to funding especially from government.
Meanwhile, CSO-SUN Country Cordinator Mathews Mhuru is worried that the 2020 national budget is not responsive to the findings of the Vulnerability and Needs Assessment report done by the Disaster Management and Mitigation Unit.
Mr Mhuru notes that this will make it difficult for government to combat Hunger next year in the 58 affected districts across the country.
He added that this worsen the alarming rates of malnutrition that Zambia is faced with.
Bomb$hell released the music video for her single “Backshot (Ngayo Ngayo)” that features Tiefour. The video was directed by Les Hombres, Fortress Media.
Unionised workers at the Times of Zambia Workers in Ndola this morning downed tools demanding payment of salary arrears by management.
The workers who are owed up to eight months arrears have been angered by a plea from management to bear with them for the delay in paying salaries.
Management in a letter addressed to the workers said the company is facing liquidity problems as the money collected is not enough to meet all expenses such as salaries which take about 75 percent of total cash inflow per month.
Company Managing Director Beston Ng’onga said collection of money by debt collectors has been hard as most companies are facing serious liquidity problems adding that they are trying hard to meet their obligation to workers and with your support and patience will succeed.
“Let us see how much we collect by tomorrow, otherwise we will have no option but to implement batch payment. We are also proposing that money allowing we may have to pay you double salaries this month to avoid accumulating an arrear. this is just a proposal and depends on money collected”, the letter issued by Mr Ng’onga read in part.
Mr Ng’onga said in the meantime, workers must rally behind the union leaders as they also pursue the issue with IDC.
“Management has also engaged the president directly on the same issue. We pray something positive comes out of these engagement. the reality on the ground is that productivity has gone down and we only have one line of income generation, advertising, which is not enough to meet the wage bill for unionized workers of K900 000 on average per month”, he added.
Mr Ng’onga added that the company has bloated labour most of which is not productive but talk too much when it comes to salaries.
“You may insult me in whatever way but the fact is that the company is limping. Whoever takes over from me will face the same if we do not change our attitudes towards work. Remember, in the abundance of words, sin is not absent”, added the MD in a letter accessed by Lusaka Times.
“If you are not paid I am also not paid. So only a fool will want to delay salaries when that will also affect him”, he added.
Mr Ng’onga urged the work to work together with management as they fight for what belongs to them.
“United we will stand but divided we will fall. Enemies of Times of Zambia will always try to divide us so as to achieve their motives. Dont say you were not warned. Remember, every waiting is not in vain forgive us but let’s move together. insults will not solve the problems but combining our efforts”, he added.
President Lungu, and Hakainde Hichilema’s scapegoating of gays is laughable except for the harm it may cause to our fellow citizens.
The rumours that HH supports gay rights did not come from nowhere–it is President Lungu’s goal of instilling fear in Zambians not to trust or vote for Hichilema in 2021. Voting for HH would imply acceptance of homosexuality in the self-declared righteous Christian nation. Only Lungu will protect and defend the sacred nation against the life-ending dangers of homosexuality.
HH understood the PF driven lie–so he joined the anti-gay crusade. He has certain values and has never supported, and will never support gay rights, he convincingly told Zambians. “I do not agree that God was wrong to create Man and Woman, Male and Female,” righteous HH noted.
This homophobic political episode underscores the now established political tradition of scapegoating gays as the nation moves closer to elections. The playbook is well established—the amplification of homosexuality as an important issue in national politics often deflect us from addressing the real issues that Zambians face.
Reminisce of the Rupiah Banda and Dora Siliya’s gay-smearing MMD campaign against Michael Sata’s PF, President Lungu presents HH as in bed with the gay menace. Like Sata, HH’s response is simply an election gimmick–in his heart, he knows better.
Why do we care more about gays than corrupt-stinking politicians?
Fear is illogical–it abandons reason. Why do we care more about gays than corrupt-stinking politicians? Who does not know that our politicians are drunkards, thieves, child molesters and rapists? Who does not know that politicians buy sex on our streets daily? Who does not know the money spent on beers at State House can buy thousands of ambulances for the accursed Christian nation? Who does not know that the cost of President Lungu’s trip to New York cost more in allowances than it costs to employ thousands of teachers and nurses. How about 48 houses without the owner?
HH’s rebuttal sought to satisfy the nation’s allergy to homosexuality. Aside from insulting many Zambians born with both genitals (intersex) and transgender persons, HH lied to the unsuspecting electorate that sexual rights have not been part of his discussions with international bodies–they have. Sexual rights have been discussed at the UN, diplomatic communities as well as health conferences including UNAIDS. At its 2014 meeting in Angola, The African Commission on Human and Peoples’ Rights called on African nations to promote and protect human rights of sexual minorities.
Gays are Africans, Christians and Zambians just as we are. Of course, we may not agree with their lifestyles, but we must respect their human rights. It is the government’s responsibility to protect the rights of all its citizens, including gays.
A citizenry has the rights to make informed decisions. President Lungu’s consumption of snake meat is an example. l find it hard to understand why someone would eat snake meat. The same with those who eat monkeys, rats, dogs, snares, frogs, lizards, monitors, and crocodiles among many others. My SDA friend Kennedy Kazeza would add that even the Bible prohibits eating most of these animals.
So, should we criminalize eating of snake meat? Or imprison President Lungu for enjoying snake meat? If people are forced to eat snake meat or deceived into eating snake meat without their consent, it is surely illegal. Should they knowingly consume it, however, as President Lungu did, it is within their democratic and human rights. Importantly, by consuming such animals, they are not less Zambian or Christian than those who don’t. This is the beauty and blessing of democracy.
Opposition cadres and Christian fundamentalists have concluded the president is a Satanist as a result. Such a conclusion is senseless. President Lungu made that choice as an adult. I may not like it, but he did not put it in my mouth. What he puts into his mouth is none ot my business. Yes one can argue that it is against Zambian culture to consume snakes. But it is not a crime at all. But does it mean that the president’s consumption of snake meat destroyed our cultural norms? No!
This is the case with gay persons–what two consenting adults do with their sexuality does not affect me at all. If anything, my rights are violated by smokers, drunks, and corrupt politicians than by same-sex loving persons.
Unlike many Christians, l don’t fear gays but politicians. They are responsible for the culture of corruption and violence in the nation. I am not asking you endorse my views–doing so is violating your democratic rights and freedoms.
l believe homosexuals like those who eat snake meat are full human beings with rights to be protected and defended. They may be a minority, but defending the rights of minorities is critical to good governance.
The beauty of democracy is simply this–let us live to disagree as long as my actions do not violate your human rights. Politically motivated prosecution of corruption, violence and denial of human rights to all Zambians is not only wrong, but unchristian.
For once we should ask why our politicians frequent the gay-protecting nations, and educate their children and seek advanced medical care from gay doctors and nurses. Is it that politicians like Lungu and HH are useless parents, who knowingly expose their children to cultures they deem unchristian? Is it that they are simply lying to the unquestioning electorate while enjoying the benefits of foreign aid from homosexual protecting nations?
The gods must be crazy indeed! By Rev. Kapya Kaoma
File 2016: President Edgar Lungu puts a Rolex wrist watch on Valden Findlay’s wrist after he pledged to buy it at K50 000 during a fundraising dinners for the ruling Patriotic Front held at Protea Hotel
Transparency International Zambia has condemned the decision by the Drug Enforcement Commission to withdraw the summoning of Lusaka Businessman Valden Findlay in connection with drug trafficking allegations.
TIZ Chapter President Reuben Lifuka has described the decision by the DEC as puzzling and one that fuels further speculation.
Mr Lifuka says the issue of Mr Findlay has attracted a lot of public interest and that it is important that all activities and decisions of the Commission are seen and considered by all interested stakeholders to be above board.
He has told QTV News that it is difficult to comprehend how the DEC on one hand, promptly summoned Mr. Chishimba Kambwili, who in this instance was acting as a whistleblower, and yet on the other hand elected not to speak to the person who is the subject of the allegations.
Mr. Lifuka adds that the DEC should also to talk to Mr Kaweche Kaunda who has shared an important perspective on Mr. Findlay.
He states that this story will not easily go away and the general public will be left to draw its own conclusions as to the reasons why the DEC has gone against its earlier intentions to summon Mr. Findlay.
The Centre for Trade Policy and Development (CTPD) says the 2020 national budget is full of contradictions as many policy pronouncements are not being supported with spending and tax changes.
CTPD Executive Director Isaac Mwaipopo says CTPD has observed that although, there is an improvement in allocation towards some sectors, the 2020 national budget is full of contradictions.
Mr Mwaipopo said CTPD is concerned that the proposed budget has not carried enough matching measures to support the proposed theme: “Focusing National Priorities Towards Stimulating the Domestic Economy”.
He said Government seems to have only improved its assessment of the current economic challenges and pronouncement of measures to be taken but has not translated these into meaningful policy changes and commitments.
“For example, though government states that it seeks to ensure debt sustainability, the road infrastructure agenda is expected to continue in the 2020 national budget following an allocation of K10.6 Billion and projected increase in debt financing,” Mr Mwaipopo said.
“How will the government create fiscal space when it is clearly failing to muzzle its appetite for spending on projects which has clearly not yielded enough returns towards debt servicing?”
Mr Mwaipopo said CTPD is also concerned that the total budget allocation has increased from K86.8 Billion to K106.0 Billion which is way above the planned expenditure for 2020 in the Medium Term Expenditure Framework.
He said the general increase in the budget does not reflect a commitment to austerity measures and “doing more with less.”
Mr Mwaipopo said the move to start working towards dismantling domestic arrears of about K20.2 is commendable.
“Although, under the macroeconomic objectives, there is no target by which government will reduce the domestic arrears. On the other hand , the allocation of K2.3 billion for the year 2020 is less than the increase in domestic arrears of K4.6 billion, within the last 6 months.”
“Clearly, there is no real commitment to the dismantling of arrears since the pace of accumulation is greater than the proposed rate of dismantling.”
He said CTPD is particularly disheartened that the allocation of K1.2 billion to the sinking fund is insignificant compared to what the country needs to raise annually towards the US$750 million Eurobond principal payment due in 2022.
“The reduced allocation towards environmental protection despite the emphasis to deal with the challenges of climate change is a matter of concern to the Centre.”
“Government’s inability to allocate more resources to education also showed the increased lack of priority since the same budget has increased allocation towards defense and public order and safety.”
Mr Mwaipopo said the budget has also maintained allocation towards drugs and medical supplies and hospital operations, which should have been matched with allocation towards health infrastructure.
He said the health sector does not only need increased buildings and facilities, there is also need for improved service delivery through increased drugs and medical supplies.
“CTPD welcomes the move to maintain VAT and wishes to advise government against the implementation of sales tax, especially to the wholesale and retail sector. This progressive tax change which has been mingled with proposals to increase non-tax revenue through increased user fees and fines charged by government departments will negatively affect consumer’s disposable income and would not result in stimulating the domestic economy.”
“Furthermore, the tax changes targeting climate change mitigation are not sufficient to creating incentives for the private sector to invest in alternative energy sources. Therefore, the 2020 budget is more focused on collecting taxes instead of using tax measures to stimulate the domestic economy.”
Mr Mwaipopo said CTPD will soon launch its detailed 2020 budget analysis paper which will be shared to the general public.
FAZ Super Division side Kansanshi Dynamos are looking forward to the match against Nkana set for Nkana Stadium in Wusakile on Saturday.
Kansanshi have made an impressive start to their maiden top league campaign that has seen them post three wins and one loss.
In a pre-match interview, Kansanshi coach Israel Mwanza predicted a tough encounter against Nkana.
‘The game against Nkana is not easy. Nkana have lost to consecutive games so we have told the boys to work hard. We don’t need to lose focus,” Mwanza said.
The ex-Nchanga Rangers and Zambia defender is pleased with his team’s bright start to season.
‘We have started very well. It is not easy to come in the Super Division and do what we are doing. We have not just made this team now. I have been with this team for two and half years,’ Mwanza.
‘These results are not coming from nowhere. I and my colleague Elijah Tana (assistant coach) we have played and coached in the Super Division so we know this league,’ he said.
Kansanshi have beaten Power Dynamos, Green Buffaloes and Mighty Mufulira Wanderers with their only loss coming against Napsa Stars in Lusaka.
Mwanza is cautioning his team against complacence.
‘We are telling the boys to remain focused every time. They should not grow big headed just because we are winning games.’
Prof Luke Mumba Vice Chancellor, UNZA Alumni Fund raising Dinner
The University of Zambia (UNZA) Vice Chancellor, Prof. Luke Evuta Mumba says the Private Public Partnership (PPP) between UNZA and East Park Mall is one of the most profitable undertakings that the university has ever engaged in.
The UNZA Vice Chancellor said this in a congratulatory note to East Park Mall, which is managed by Graduare Property Development Zambia Limited, for winning the first prize in the Best Retail Development category at the 3rd Annual Africa Property Investment Summit (API-Summit) taking place at the Sandton Convention Centre in Johannesburg, South Africa from 2nd to 3rd October, 2019.
East Park Mall emerged winner after competing with Landmark Retail Boulevard from Nigeria and Cosmos Yopougon from Cote d’voire.
According to the Africa Property Investment Events (API-Events), who are the summit organisers, the API awards are established to recognise and promote excellence in Africa’s rising real estate sector and are a critical benchmark for measuring success for the industry.
API-Events further states that the awards provide peer recognition for the pioneering world class work and services being undertaken by the trailblazing real estate industry in Africa.
The East Park Mall is a University of Zambia (UNZA) undertaking under a Public Private Partnership (PPP) that has seen UNZA lease out part of its land to Graduare Property Development Zambia Limited in exchange for a percentage of the gross revenue per month arising from the occupancy of the various outlets at the shopping mall.
The PPP terms specify that when the lease period stipulated in the agreement expires, the mall will be transferred in full to the University of Zambia.
So far, UNZA has invested heavily in projects and income generating activities from proceeds of the partnership aimed at expanding its opportunities to attaining self-sustainability.
Of note, is the purchase of a state of the art Printing Press housed under UNZA Printer and the construction of a block of two ultra-modern lecture theatres each sitting a total of about 350 students. In addition, the development will house a computer laboratory, class rooms and office space to be completed in July 2020.
The UNZA Management is committed to engaging in partnerships such as the one with Graduare Property Development Zambia limited to ensure that UNZA attains self-sustainability for the promotion of the highest quality of teaching, research and community service for its Staff, Students and the general public.
DMMU National Coordinator Chanda Kabwe said that the Vulnerability and Needs Assessment report, which is now in public domain reveals that 58 districts are in need of humanitarian support, with 3 districts; Lunga, Gwembe and Shangombo being in emergency phase from October 2019 to March 2020.
The Disaster Management and Mitigation Unit (DMMU) is disappointed with the increase in false reports concerning the hunger situation in the country. This is in reference to reports that five people have died of hunger in Shangombo district of Western province.
DMMU National Coordinator Chanda Kabwe said neither his office nor the Provincial Administration in Western have received such reports and that they are merely a scheme to cause panic in the country.
He has emphasized that the government is aware of the increasing needs in the Shangombo district and has since doubled the relief allocation to the district to meet the growing needs.
Meanwhile, Mr. Kabwe has refuted allegations that the government is distributing relief based on partisan lines.
He said DMMU has always engaged partners who are Non-Governmental Organizations and Faith-Based Organizations to carry out the distribution of the relief to identified affected households. These organizations include Caritas Zambia and World Vision among others, who are neutral institutions.
Mr. Kabwe has since urged all Members of Parliament, who are also members of the District Disaster Management Committees, in the affected districts to engage his office in finding better ways of responding to the needs in their Constituencies.
Last week Friday, 27 September, 2019, the Minister of Finance Hon. Bwalya Ng’andu presented a K06.01Billion National Budget for 2020. In dollar terms, the budget is equivalent to US$8.15Billion.
The Minister stated that the 2020 budget is 32.4% of GDP. This means the GDP in 2020 is estimated to be US$25.15Billion. In 2014, the GDP was US$25.74Billion. This implies that the economy of Zambia in 2020 will be smaller than it was in 2014 by US$586Million.
Now, year in- year out since, successive minister have been presenting budgets where they have been claiming real GDP growth of between 3-5%. The question is: if the economy has been growing at such rates since 2014, how come the real GDP in 2020 will be less by US$586Million compared to the real GDP in 2014? The arithmetic is not adding up properly here, and mind you, numbers don’t lie. So it can only be someone somewhere telling a lies.
In 2015 elections, and subsequently the 2016, we promised to grow the economy by boosting the non-traditional exports from US$500Million to US$36.5Billion. We stated that US$36Billion of the non-traditional exports was going to be generated from high value crops fronted by a medical and industrial cannabis business. If this export line was ventured into at the time, the real GDP would have leaped from US$25.74Billion is 2014 to US$61.74Billion in 2016 and subsequently to US$86Billion by 2018. At the estimated population of 17 million people, Zambia needs a real GDP of not less than US$80Billion. That is our position as the Green Party. Put simply, why the arithmetic is not adding up on real GDP despite the claimed economic growth rates is because there is no specific stimulus presented to the nation to be the driver of the growth other than the usual bluff.
Coming to the arithmetic on budget projections, the Minister claims he will raise K106.01Billion in 2020 from revenue and grants. Now, in presenting budget performance for 2019, he says he has managed to raise K42.8Billion revenue and grants from January to August, 2019. Compared to the total budget for 2019, what the Minister raised in 8 months from January to August is only 49.26% of the total budget which is less than half. This means the Minister will have to raise K44.07Billion or 50.74% of the remaining 2019 budget in next 4 months. The question is: Is this achievable and realistic? The realistic and achievable figure is maximum K22Billion. This means that the total achievable budget revenue and grants is K64.8Billion of K86.87Billion. So, the realistic deficit for 2019 is K22.07Billion equivalent to 25.4%.
Realistically speaking, if all the Minister can receive as revenue and grants in 2019, is K64.8Billion, at the maximum, are you sure he will manage to receive K106.01Billion in 2020? Are you sure the Minister will manage to double the collections for 2019 in one year based on the measures he has proposed?
What are the measures proposed to double the 2019 revenue and grant receipts? First, the Minister has proposed to increase the General Public Service Expenditure by 14.6% to K41.6Billion which is almost 40% of the total budget. Now, General Public Service is a consumptive head, not a growth head. So, the Minister has missed the first point on economic growth. The second measure proposed by the Minister is to increase Home Affairs and Defence budgets by 15% and 5% respectively. Again, Home Affairs and Defence are consumptive heads. This is the second miss. Now, to add salt to injury, the Minister has decided to reduce the Economic Affairs head by K3.19Billion representing a reduction of 13.4%. How on earth can one grow wealth by reducing the capital base? The rule of the thumb in business is that the more capital you invest, the more return on investment you get. Meantime, the Minister wants to double the receipts by reducing capital investment. This approach defeats all logic, in my view. One wonders what is happening considering that the Minister has increased other consumptive head such as religion (increased by 17.6%) and community amenities (increased by 27.9%) while reducing budget allocation to cross-cutting economic drivers such as environmental protection (reduced by 40%); education (reduced by 18.9%) health (reduced by 5.38%); and social protection (reduced by 4.7%). How does the Minister expect to achieve 3% economic growth by employing such matrices? Prima facie, such growth is not tenable.
Coming to the issue of international reserves, the Minister informed the Nation that as at July, 2019, only a paltry US$1.4Billion is remaining from the US$3.2Billion in coffers as at July 2015. This shows that Government has been chewing the international reserves at a steady rate of US$450Million per year since 2015. The Minister stated that between January and July this year, US$200Million was chewed from the reserves leaving only 1.7 months of import cover. Expectedly, US$250Million will be chewed by end of December this year equivalent to 1.4 months of import cover. Since, we expect to start 2020 with only US$1.15Billion or 1.4 months of import cover, how achievable and realistic will it be for the Minister to achieve his stated target of increasing international reserves to 2.5% -3% of import cover bearing in mind the trend on international reserves since July 2015? Put simply, the Minister is unrealistic as the arithmetic is not adding up.
On debt, the Minister was very stingy with numbers. As I have earlier stated, numbers don’t lie. Quite alright, the Minister informed the Nation that the external debt as at end of June stood at US$10.23Billion. However, as regard to the domestic debt, the Minister just disclosed the non-VAT debt which he stated was K20.2Billion. He deliberately glossed over the VAT debt which is also as high as the non-VAT at K20.6Billion which is equivalent to US$1.6Billion. The total domestic debt is K40.8Million. The Minister was obliged to disclose the VAT debt because US$1.6Billion is not numbers a Minister must gloss over. Mind you, the figure of US$1.6Billion we are talking about is more than the current stock of international reserves. The Nation deserves to know this, and most importantly how the Minister intends to dismantle it.
As the Green Party, we have issues with the VAT regime and the monthly accrual of this debt at K1.2Billion per month. There is no way a responsible government should continue with a tax system where the tax debt exceeds tax revenue. This scenario beats all logic, and is the reason we supported migrating from VAT to GST tax regime. The cover up of this debt by the Minister intrigues us. We cannot surmise the intention and logic.
Furthermore on debt, the Minister stated that he has allocated K636Billion (equivalent to US$48.9Million) for dismantling of the Eurobond debt. This will bring the total amount so far earmarked for Eurobond debt repayment to US$58.9Million since there is already US$10Million in the Sinking Fund. Now, in there is only 3 years before US$750Million is due as lump-sum payment. If the Minister honors his commitment to raise the Eurobond fundraiser to US$58.9Million, then that will make the total at hand to be a paltry 7.85% of US$750Million. Considering that the following year (2021) will be the election year, and meantime, the year to raise the remainder US$691.1Million or rather 92.14% of US$750Million, the Minister should have been emphatic on this issue. Rather, he simply glossed over it. We are disgusted with his unenthusiastic approach on the Eurobond debt as this, if anything is the most deadly time-bomb on the horizon.
Finally on export earnings, we note a reduction of US$700Million from copper exports compared to 2018 for the period January to June. This is attributed to reduction in the importation of copper ores, concentrates and chemicals for processing copper and cobalt. When we look at budget measures proposed (zero rate capital equipment for mining sector; minimize input VAT claims by mining companies on diesel; limit input VAT for mining companies on electricity), none is targeted at addressing the concentrates and chemicals importation draw back. None is also targeted at addressing the problems which led to hostile take-over of KCM, for example. So, for us, the forex portfolio looks gloomy into 2020 and beyond.
UPND President Hakainde Hichilema has challenged Finance Minister Bwalya Ng’andu to tell the nation where the US$515 million exceptional revenue will be sourced from to finance part of the 2020 national budget.
Mr Hichilema has urged the government not to borrow anymore unless it is refinancing under more amicable terms.
He has reiterated that some of the problems facing the nation are as a result of over borrowing and poor governance.
Mr Hichilema says blaming climate change over the challenges facing the nation is unrealistic adding that all these can be resolved if they stop Corruption and borrowing.
He says he will once in government ensure that Zambia’s debt is reduced to avoid plunging the country into a debt crisis.
Finance Minister Bwalya Ng’andu plans to obtain almost 10% of Zambia’s total income next year from undisclosed sources, raising concerns about the accuracy and sustainability of government spending plans for 2020.
The budget, which Dr Ng’andu presented in Parliament, contains 6.75 billion kwacha ($515 million) of “exceptional revenue” that could further stretch the country’s finances.
Yesterday, Bloomberg reported that Zambian Finance Minister Bwalya Ng’andu plans to obtain almost 10% of the total income next year from undisclosed sources, raising concerns about the accuracy and sustainability of government spending plans for 2020.
The budget, which Ng’andu presented to lawmakers on Sept. 27, contains 6.75 billion Kwacha ($515 million) of “Exceptional Revenue” that could further stretch the finances if it doesn’t materialize. Government debt has surged from 20% of gross domestic product a decade ago to a projected 91.6% this year, prompting the International Monetary Fund to warn that Zambia is at high risk of debt distress.
“There’s a process tagged to this and an announcement will be made as soon as process completion is attained,” a Finance Ministry spokesman said in response to questions about the source of the funds.
“It would be great if the government gave an indication of this exceptional revenue before the budget comes into effect in January to avoid unnecessary speculation,” Lusaka-based economist Chibamba Kanyama said in an emailed response to questions Wednesday. “I think all stakeholders want to ascertain the efficacy of that source so that we are more than guaranteed it will be realized.”
President Lungu donating a Mealie Meal bag to a draught victims in SOuthern Province
PRESIDENT Edgar Lungu is tomorrow expected in Sinazongwe district of Southern Province where he will launch the Winter Maize Harvest grown by Zambeef using Pannar Seed Maize hybrid.
The event has been organised by the Zambia National Farmers Union (ZNFU) in collaboration with Pannar seed and Zambeef which are providing quality and high performing hybrid Maize Seed that guarantees national food security.
Stakeholders and delegates will be witnessing that Zambeef, the largest corporate commercial farmer together with Pannar Seed are superintending over drought resilient, climate smart, high yielding – tolerant to high population pressure, increased productivity and optimised profitability way of farming.
Sinazongwe lies on the north shore of Lake Kariba. It was established in the 1950s as a local administrative centre, while its main industry now is farming and fishing.
Sinazongwe is a developing area in Zambia. Commercial plots have been sold to potential investors who are all looking at bringing more tourism into the area, with a proposed campsite, lodge and many more future tourist attractions to such as Zamarula Fishing Camp.
Sinazongwe is accessible nearly all year round. Access is by tar road from Batoka (which is between Monze and Choma) and by 17 kilometres of gravel road just outside Sinazeze.
The nearest airstrip is approximately 6 kilometres from Sinazongwe on the Zambeef Cropping section. It is advisable to contact Zambeef and alert them of your arrival in advance in order for safety procedures.
The nearest town is Choma, which is 95 kilometres from Sinazongwe (one and a half hour’s drive). Sinazongwe is only a three hour drive from Livingstone and a three hour drive from Zambia’s capital, Lusaka, therefore giving it good access to an international airport from either direction as well as to one of the seven-wonders of the world; the Victoria Falls in Livingstone.
Sinazongwe is also the first place that travellers from South Africa, Namibia and Botswana can get to see or visit Lake Kariba, the next being Siavonga which is on the other end of the Lake around 750 kilometres away. When it comes to tourism, Sinazongwe is relatively untouched, unspoiled and uncommercialised. The people of Sinazongwe are friendly and welcoming.
Depending on the time of year, there are various local ceremonies (Liiwindi Ceremony in July/ August) which tourists are welcome to attend and observe.
Justice Minister Given Lubinda has said that the Constitution Amendment Bill No. 10 of 2019 will be withdrawn if it turns out that the majority of the submissions to the Parliamentary select committee are against its enactment.
The Minister said that President Edgar Lungu will not hesitate to respect the wishes of the people on the proposed Bill.
Speaking when he closed the receiving of submissions by the Parliamentary Select Committee, Mr. Lubinda also clarified that the government has no stand on any of the clauses and Articles in the Constitution Amendment Bill.
Mr. Lubinda said that the government will, therefore, be guided by what the Parliamentary Select Committee will establish based on the submissions it has received.
Mr. Lubinda disclosed that his Ministry has come up with a Bill that will make any future processes to amend the Republican Constitution pre-determined, stating that once Cabinet approves the Bill, it will be taken to Parliament for enactment.
