Food and Agriculture Organisation (FAO) Country Representative George Okech said the impact of climate change will cost Zambia about 0.4 % of the country’s annual economic growth.

Dr Okech explained that without action, rainfall variability could lead to loss of 0.9% of GDP over the next 10 years.

ZANIS reports that Dr. Okech further explained that in responding to climate change impact on livelihoods and food security, most developing countries in Zambia have made progress by developing National Adaptation Programmes of Action ( NAP).

Dr Okech said this during the closing workshop for the Integrating the Agriculture Sector into the National Adaptation Plan Project in Chisamba yesterday.

The FAO Country Representative added that agriculture and food systems are partly responsible for increased temperatures and also fundamental part of the solutions to mitigate greenhouse gas emissions.

And Ministry of Agriculture Permanent Secretary Songowayo Zyambo said government remains committed in ensuring climate smart policies.

Mr Zyambo pointed out that government is doing this through the promotion and implementation of climate smart agricultural practices amongst the farmers.

He said this in a speech read for him by Ministry of Agriculture – Director of Agriculture, Peter Lungu.

Mr Zyambo said government is encouraging multi sectoral approach under the Seventh National Development Plan (7NDP).

He has since implored key stakeholders to take advantage of the mechanisms to consolidate and synergise approaches in fighting climate change.

Mr Zyambo encouraged participants to share lessons and experiences by mainstreaming them in their daily roles and responsibilities.

In the 2018-2019 agricultural season, parts of Southern, Central and Western Provinces experienced reduced rainfall which resulted in decreased crop production.

The workshops drew participants from agricultural experts, academia and officials from government line ministries

Zambia’s largest bank by assets, ZANACO has refuted reports that it suffered a major hack on its Xapit Mobile Money system last weekend.

But some ZANACO customers have insisted that they lost money after some suspicious transactions appeared in their accounts and have challenged the bank to show responsibility over the matter.

In a statement, ZANACO through its Head of Marketing and Communications Mutinta-Musokotwane Chikopela said ZANACO management would like to assure members of the public and customers that there has been no security breach on its systems.

Mrs. Chikopela said the Bank has invested and continues to invest heavily in the controls and systems that host customer Personally Identifiable Information (PII) as security for its customers is of the utmost importance and is at the centre of it’s core strategy.

“Regrettably, it would appear that some of our customers have yielded to incessant pursuits of cyber criminals and shared their personal banking credentials,” Mrs Chikopela admitted.

“Following industry wide cyber fraud, we have embarked on a Fraud Awareness Campaign in an effort to sensitizeour customers and the public on how to protect their information and themselves against fraud. The campaign has run on various radio stations and on all our SocialMedia Platforms,” she said.

“We continue to advise our customers that details such as pin and/or passwords should never be shared online or with anyone else and if they suspect an attempt for fraud, they must quickly change their pin and report any suspicious activity,” Mrs. Chikopela said.

“We strongly appeal to our customers and members of the public to heed that cyber-crime is an industry wide situation and also cuts across different industries. Cyber-crime prevention is a collective responsibility as cyber-crime is on the increase globally.”

She added, “It is therefore each person’s responsibility to safeguard themselves and exercise extreme security as we all work towards our national financial inclusion agenda.”

But some ZANACO customers have insisted that there was an attack on its system which led them to lose their savings.

The clients who were affected have since called on the bank to step up its security measures.

Some ZANACO clients interviewed are disappointed that a big bank like ZANACO could suffer such an attack on its systems.

Some who were affected and lost their money in the process say they have been inconvenienced and are demanding that they be compensated their money.
Samwali Nancy Malitoli wrote on Facebook that she lost her salary due the system hack.

“My November 2018 salary together with my ka savings from my savings account disappeared from my ZANACO accounts and it did show that the money went to a FNB account under the name Chrispin Kila and it was a swift transfer authorized on a sunday at 12 Hours. Well, i reported to the bank and up to now nothing has been done and what is shocking is that even the book balance of K200 was wiped out and now they are say they cannot do anything because that transfer was pin generated…..What system is this!!!!total rubbish!.”

The Zambia Chamber of Commerce and Industry (ZACCI) has welcomed the operationalization of the Africa Continental Free Trade Area (AfCFTA) at the just ended Africa Union 12th Extraordinary Summit.

ZACCI President Chabuka Kawesha has observed that the actualization of the AfCFTA has potential to help Zambia grow its investment portfolio and enhance its access to the larger trade market.

In an interview with ZANIS in Lusaka today, Mr. Kawesha said Zambia’s involvement in pitching in a larger investment market is a positive move, which must grow and be led by the private sector.

He explained that currently the Africa Union estimates that implementing the continental free trade area will lead to 60% boost in intra-Africa trade by 2022.

He noted that both the Zambian Private Sector and government know that this background can increase Foreign Direct Investment (FDI) in-flows and other wealth generation opportunities for the country.

Mr. Kawesha added that ZACCI takes cognizance of the fact that free trade agreements are designed to increase trade between two or more countries, which leads to wealth creation, and economic growth in a country.

He however, stated that Zambia’s real benefits would be realized once the high cost elements of doing business in the country are reduced and the country is open up more trade routes.

He said many high cost elements are triggered in country through local authorities and agencies. Policy positions have been shared, adding that it is time we actualize the visions of industrialization.

Mr. Kawesha said Zambia is currently on a weak footing considering the agriculture and manufacturing base which is low, unprotected and clogged with high operational costs thus leaving the country an import-oriented nation.

He pointed out that trade agreements are designed to cut trade tariffs between member countries, which must be protected and supported by the local private sector units in a free global market environment so that the country does not remain a trading and dumping ground for inferior goods and services.

He noted that the ratification of the AfCFTA will bring about increased opportunities and promote competition which Zambia’s investors and wealth creators need to keep at pace with other countries and breed growth and market opportunities.

He further said that the Chamber is alive to notable frameworks like the National Industrial Policy, Local Content Strategy and Export Strategy noting that these are good instruments that if implemented will increase Zambia’s economic and industrial outlook within the continental free trade area.

Mr. Kawesha has since implored government to continue promoting the private sector and deliberate cost reduction measures and spur wealth creation across a wider section of society.

The Economic Association of Zambia (EAZ) says preparations for the fourth coming National Economic summit are progressing well, and has attracted participation from speakers and dignitaries across the globe.

Association President Lubinda Haabazoka says the summit which is aimed at discussing the country’s economic progress, will also be used as a platform to market the nation’s investment potential in various sectors of the economy.

Dr. Haabazoka noted the summit is expected to bring together economists, government officials, academicians, scholars from other countries, and university students, who will discuss economic issues affecting Zambia and the rest of the world.

He told ZANIS in an interview in Lusaka today, that so far speakers from Nigeria, South Africa, Germany, Italy, Russia and the United States of America have already confirmed participation.

Dr. Haabazoka pointed out that investors from Italy have shown interest to attend the summit with possibilities of investing in the country’s agricultural sector.

He noted that the summit is also focused on enhancing the country’s potential as a strategic location in the region, for investment.

He added that for Zambia, the event will be used as a reconciliation tool to instil the common purpose agenda towards finding solutions for the country’s economic challenges.

Dr. Haabazoka further said that the summit is key to the country’s economic transformation, as it will result in increased Foreign Direct Investment (FDI), increased production and employment creation, due to the improved rate of new investments.

President Edgar Lungu is expected to grace the summit which will be held from July 25th to 26th, 2019 in the tourist capital, Livingstone.