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Supreme Court silence on Trump tariffs extends market risk: deVere CEO

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The US Supreme Court’s decision not to rule on the legality of Donald Trump’s sweeping tariffs keeps a major source of market uncertainty alive, warns the CEO of one of the world’s largest independent financial advisory organizations.

The warning from deVere Group’s Nigel Green comes as the court released three opinions Wednesday but offered no judgment on the tariff regime, leaving investors without legal clarity on a policy that has reshaped supply chains and pricing.

“With no indication of when the justices will address the issue, markets are now forced to price an open-ended legal risk around a major US trade policy.

“This is uncertainty being extended, not resolved,” says the CEO.

“Tariffs affect prices, margins and investment decisions.

“The legal challenge to the tariffs goes to the heart of presidential authority over trade.

“A clear decision would’ve given companies and investors a basis for planning.

“Instead, businesses continue to operate under rules that could ultimately be upheld, rewritten or struck down, but with no timeline for resolution.

Nigel Green says this legal limbo has immediate implications for market behavior.

“When the legal status of a policy that affects trillions of dollars in global commerce remains unresolved, risk premiums rise across equities, currencies and credit.”

For multinational companies, the impact is already being felt in boardrooms. Decisions on sourcing, pricing and capital investment remain provisional.

Firms hesitate to commit long-term resources when the legal foundation of trade policy could shift suddenly.

“Tariffs already distort supply chains and cost structures,” he notes.

“Add legal uncertainty and you magnify the effect. Investment slows, confidence weakens and growth expectations come under pressure.”

Inflation remains central to the debate. Companies facing unpredictable future costs tend to build buffers into pricing strategies. Those buffers often land on consumers. The longer tariffs stay in legal doubt, the more likely firms are to maintain higher price assumptions across a wide range of goods.

The deVere chief executive says this feeds straight into the macro outlook.

“Unresolved trade policy pushes uncertainty into inflation forecasts,” he says. “This shapes expectations for interest rates, bond yields and equity valuations. This becomes a market-wide issue.”

Sectors most exposed to global trade are on the front line. Manufacturing, autos, technology hardware and retail all face heightened sensitivity to tariff outcomes. Without judicial clarity, investors must model a wider range of scenarios, increasing volatility and widening valuation gaps between winners and losers.

“Markets hate open-ended risk,” Nigel Green says. “When something this big stays undecided, traders and portfolio managers price for instability.”

The political dimension sharpens the impact. Tariffs remain a cornerstone of President Trump’s economic strategy.

With the court silent, the policy stays in force but legally unresolved, leaving investors uncertain about durability and direction.

“Tariffs remain, the legal question remains, and markets price the gap,” he says. “And when markets price uncertainty, volatility typically follows.”

With no timetable for a ruling, attention now turns to every signal from Washington, from court calendars to policy messaging, for clues on when the tariff question will finally be settled.

“The unresolved status of Trump’s tariff regime remains a defining risk factor for global markets,” concludes the deVere CEO.

CAF Trophy Hunt: Win Samsung Galaxy Z Fold7, Xbox Series X, Apple iPad Air and other prizes in 1xBet promo!

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Improvements in Power Supply Praised

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Small and Medium Enterprise businesses have expressed their appreciation for the government’s efforts to extend power supply hours in residential areas, noting the significant positive impact on their operations.

In an interview with the media in Lusaka, Stanley Mumba, a welder from Kalingalinga, shared that the enhanced power supply has helped boost his business.

Mr Mumba mentioned that with more consistent electricity, he has been able to extend his working hours and increase his profit margins, which had previously been affected by frequent power outages.

Kandendu Kandendu, a hairdresser, also praised the improvement, explaining that his clients no longer avoid his services due to power disruptions.

“We have not faced any major power outages lately, and we’re grateful to the government for taking steps to reduce load shedding,” he said.

He acknowledged that the patience shown by himself and other small businesses during the government’s implementation of power stability measures has finally paid off.

Frank Mwalusaka, a computer science student at Cavendish University, also expressed his gratitude for the increased power supply over the past month.

“Having electricity both day and night is a huge benefit for us students. It allows us to study late into the night,” he said.

Mwalusaka added that the stable power supply has eliminated the difficulties he previously faced when working on projects and other academic activities.

The past month of steady power supply has been well received by consumers, who are hopeful for continued improvements.

Government Tells Businesses to Cut Prices After Kwacha Gains

Government Tells Businesses to Cut Prices After Kwacha Gains

Government has called on businesses to adjust prices downward following the sustained appreciation of the Kwacha, stating that recent currency gains were the result of deliberate economic measures rather than market coincidence.

Minister of Commerce, Trade and Industry Chipoka Mulenga said the strengthening of the Kwacha reflected coordinated fiscal and monetary interventions aimed at restoring stability and confidence in the economy. He said the gains should translate into lower prices for consumers, particularly for goods with high import content.

Mulenga said government had observed that some businesses were slow to adjust prices despite the improved exchange rate environment. He said this created pressure on households and undermined the intended consumer benefits of currency stability.

The minister said currency appreciation reduced the cost of importing raw materials, fuel, and finished goods, adding that businesses had a responsibility to reflect these savings in pricing structures. He said failure to do so risked distorting the market and weakening public confidence in economic reforms.

According to Mulenga, the Kwacha’s recent performance was supported by improved foreign exchange inflows, increased export earnings, and tighter fiscal discipline. He said these measures were implemented to correct macroeconomic imbalances and stabilise the local currency.

Government has also pointed to improved coordination between the Ministry of Finance and the Bank of Zambia as a contributing factor. Officials said policy alignment helped manage liquidity, control inflationary pressures, and support currency stability.

Mulenga said the ministry would continue engaging business associations and suppliers to encourage fair pricing practices. He said price reductions should be guided by cost structures and not delayed unnecessarily once input costs decline.

Some traders have argued that existing stock purchased at earlier exchange rates limited the immediate ability to reduce prices. Government acknowledged this concern but said adjustments should follow once new stock is acquired at lower costs.

Consumer groups have welcomed the call, saying sustained currency stability should ease pressure on essential goods and services. They said transparent pricing would help rebuild consumer trust and stimulate demand.

Government said monitoring mechanisms were in place to track price movements and assess compliance with fair trading principles. Mulenga said engagement would remain the preferred approach, with enforcement applied where necessary.

The minister said government remained committed to maintaining macroeconomic stability and ensuring that currency gains benefit both businesses and consumers.

15,800 Copperbelt Farmers Hit by Fall Armyworm

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More than 15,800 farmers in Copperbelt Province have had their fields infested by fall armyworm, affecting approximately 10,000 hectares of cropland.

 Copperbelt Province Senior Field Crops Officer Michael Mumbi disclosed that the infestation has been increasing across the province during the 2025–2026 farming season.

Mr Mumbi said the province has a total of 247 agricultural camps, of which 175 camps have so far reported fall armyworm infestations.

He explained that people continued to make reports because most crops in the province were currently at the vegetative stage, a period when crops were highly vulnerable to pest attacks.

“The Ministry of Agriculture has been combating the fall armyworm to ensure that crop yields are not affected. This is being done through various programs such as the training of officers and farmers in Integrated Pest Management” Mr. Mumbi said.

The Senior Crops Officer said the province received 10,000 litres of pesticide that will be distributed to all ten affected districts.

Mr Mumbi stated that the Copperbelt Province has over 460,000 small-scale farmers, and the chemicals will be delivered to districts, which will later distribute them to the affected households.

He also explained that pesticides were rotated to prevent pests from developing resistance.

” The chemicals received include Emamectin Benzoate and Lambda-cyhalothrin, which are highly effective”, he said.

Mr Mumbi advised farmers to apply the knowledge and training provided and emphasized that chemical control should be used as a last resort, as pesticides were highly poisonous.

He encouraged farmers to closely monitor their fields and apply Integrated Pest Management techniques, including cultural practices, for early detection and control.

He added that farmers were free to visit the District Agriculture Coordinator’s office to seek guidance and access pesticides when necessary.

Zulu takes up new appointment at FIFA

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The Football Association of Zambia (FAZ) has announced that its Technical Director, Lyson Zulu has been appointed by FIFA as the Technical Development Scheme High Performance Specialist for Africa.

In a statement issued in Lusaka by FAZ Head of Media and Communications, Nkweto Tembwe, FAZ says Zulu’s appointment to the FIFA role reflects both his personal professional growth and the rising profile of Zambian football administration on the global stage.

In 2024, Mr Zulu was among 24 Technical Directors worldwide who were awarded the FIFA Technical Leadership Diploma in Zurich after completing an 18-month academic programme.

And FAZ General Secretary, Machacha Shepande described Zulu’s appointment as both a moment of pride and a significant loss for the association, noting that while FAZ would miss his expertise, his elevation to an international role was a major achievement.

“Congratulations, Mr Zulu Your journey is an inspiration, and your impact will continue to be felt far beyond our borders. We can only wish you the best on your next step in your journey,” Shepande said.

He added that Zulu’s appointment was a strong endorsement of the quality of technical expertise being developed within FAZ and highlighted the association’s growing reputation as a source of high-level football professionals.

“This achievement represents not only a personal milestone for Mr Zulu but also a victory for FAZ, Zambian football, and African football at large,” Shepande said.

Shepande further noted that Zulu’s new role at FIFA presents an opportunity to influence high-performance football systems across Africa, contributing to the continent’s competitiveness, structure, and global relevance.

ZESCO assures Mazabuka, Monze of power restoration

ZESCO Limited has assured residents of Mazabuka, Monze and surrounding areas that efforts are underway to restore electricity supply following an outage caused by a fault on a Mazabuka 88kv high-voltage transmission line.

The media reports that ZESCO Stakeholder Relations Manager, Rose Sibisi said the power utility has deployed a team to the affected area and is working continuously to fix the problem.

Ms Sibisi explained that excavation works have already begun on the Mazabuka 88kV line where two transmission towers collapsed.

She added that 4×14 metre poles have been delivered to the site, with two more expected to arrive soon.

She further stated that additional linesmen from Mazabuka have been mobilised to strengthen both the transmission and distribution teams, while the fabrication of cross-arms is currently in progress.

However, Ms Sibisi noted that the repair works are being hampered by highly waterlogged ground conditions, which have contributed to the collapse of the poles.

She has since urged customers and members of the public to treat all power lines as live at all times, as electricity supply may be restored anytime.

Ms Sibisi said ZESCO regrets the inconvenience caused by the unplanned power interruption and assured affected customers that they will be kept informed on further developments.

Old Banknotes to Lose Legal Tender Status After March 31

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The fate of the old Kwacha banknotes has been sealed, with the Bank of Zambia (BoZ) announcing that all old banknotes will lose their value after March 31, 2026.

BoZ says that effective April 1, 2026, the old banknotes will cease to be legal tender and will no longer be valid for transactions or accepted for exchange with the new currency series.

BoZ Assistant Director for Communications Besnat Mwanza has urged members of the public to exchange their old banknotes at any commercial bank or NATSAVE branch across the country before the deadline.

Ms Mwanza said the exchange period will not be extended and that after March 31, the old banknotes will have no value.

She explained that the new family of currency, which was launched on March 31, 2025, consists of six banknotes and six coins. Since its introduction, both the old and new banknotes have been circulating concurrently to allow the public adequate time to adjust and exchange their old cash.

Ms Mwanza said the one-year exchange period is in line with the Bank of Zambia (Withdrawal and Exchange of Currency) Regulations, 2025, as provided for under Statutory Instrument No. 9 of 2025 issued by the Minister of Finance and National Planning.

She said exchanges will be conducted at full value to ensure that members of the public do not incur any financial loss.

Ms Mwanza further advised the public to avoid delaying the exchange process until the last minute in order to prevent inconvenience.

Defence Minister Engages DRC Over Attacks on Zambian Truck Drivers

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Government has raised concern over continued attacks, harassment and intimidation of Zambian truck drivers operating in the Democratic Republic of Congo (DRC), stating that the safety of its citizens remains a national priority.

Minister of Defence Ambrose Lufuma said Government is aware of the growing security challenges faced by Zambian truck drivers along major transport corridors in the DRC and has engaged Congolese authorities through diplomatic and security channels to address the situation.

Mr Lufuma said Government has reiterated that no Zambian citizen should operate in a hostile environment without full state protection, adding that efforts are underway to ensure truck drivers are not subjected to violent attacks while contributing to regional trade and integration.

The Minister said Government is mourning the death of Zambian truck driver Joseph Chivanga, who was found dead in the DRC in December 2025, and expressed solidarity with the family, relatives and colleagues of the deceased.

Mr Lufuma said the attacks are linked to wider security and enforcement gaps along key trucking routes in the DRC, which has prompted Zambia to initiate high-level bilateral security consultations with Congolese authorities aimed at strengthening cross-border cooperation and intelligence sharing.

He said Zambia has formally demanded that DRC authorities implement measures to prevent criminality, harassment and violent attacks against foreign truck drivers, in line with international and regional transport safety protocols.

Mr Lufuma disclosed that Zambia will also raise the matter within the Southern African Development Community (SADC) framework to pursue a regional approach to the protection of truck drivers operating across borders.

He said Government is further coordinating with relevant agencies to strengthen border operations, including emergency response mechanisms and rapid escalation channels for driver complaints.

The Minister added that a Joint Permanent Commission on Defence and Security between Zambia and the DRC is currently underway in Lubumbashi, where the harassment of Zambian and other foreign truck drivers is among the key issues under discussion.

Zambia, DRC technocrats confer on Regional Trade

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Technocrats in Livestock and Fisheries have noted the significance of regional trade in boosting economic growth for Zambia and the Democratic Republic of Congo with the aim of formalising markets as well as enhancing revenue.

Speaking on the sidelines of the ongoing 14th Session of the Democratic Republic of Congo and Zambia, Joint Permanent Commission on Defence and Security, being held in Lubumbashi Haut-Katanga Province in the DRC, the Ministry of Livestock and Fisheries Principal Economist for Trade and Agribusiness, Winford Lukubi highlighted the need to tap into the massive Congolese market to enhance trade in the region.

Mr Lukubi, highlighted that as a Ministry that also looks at trade facilitation among other services to do with exports called on Zambians to support his Ministry’s exportation of products to countries like the DRC.

Mr Lukubi stated that there is need to tap into the vast Congolese market through value chains such as daily produce, like beef or fish among other products.

He said this will assist in enhancing trade for economic growth for both countries.

“Zambians need not to be afraid of going out of their comfort zone but must be able to embrace the export trade for Zambia’s posterity,” he said.

Chief Fisheries Research Officer, Bornwell Seemani expressed that in order to tap into the Congolese big market in fish exports there is need for regulations from both sides in order to curb unreported and illegal fishing

Dr Seemani noted that with an influx of these vices both sides need to come up with measures to be agreed by the two countries in order to conserve the resources.

He stated that once regulated fishing is put in place both countries will be able to collect revenue through taxes.

Dr Seemani noted that the bilateral talks between the two countries are vital as Zambia and the DRC share one of the major water bodies, which is Lake Mweru, which contributes about 10 percent of the country’s fish.

“So we are trying to formalise markets to see to it that production is enhanced and that we are able to conserve our fish,” Dr Seemani noted.

Doreen Mwamba Calls for Love and Hard Work Ahead of Chawama By-Election

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UPND National Chairperson for Women, Ms. Doreen Mwamba, has called for love, unity and hard work ahead of Thursday’s Chawama by-election.

Ms. Mwamba emphasised the need for community cohesion free from social vices such as tribalism and disunity, saying unity is critical not only for national harmony but also for sustainable community development.

She said that without unity, love and hard work among community members, government efforts to deliver development would be undermined, as progress is anchored on the power of unity.

Her message resonated across the three wards she visited while campaigning for UPND candidate Mr. Morgan Muunda.

Ms. Mwamba said the Chawama by-election provides an opportunity for residents to renew their collective commitment to making the constituency a better place where people can live with dignity.

She also urged young people to be proactive and take advantage of government programmes such as the Social Cash Transfer, Cash for Work and the Constituency Development Fund to improve their livelihoods and support their families.

Ms. Mwamba expressed optimism that the UPND would win the Chawama by-election and the 2026 General Election, allowing the party to continue implementing programmes aimed at lifting citizens out of poverty.

“When you give the President another opportunity in 2026, these developmental programmes will continue,” she said.

DEC Arrests Eight Suspects for Drug-Related Offences in North-Western and Western Provinces

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The Drug Enforcement Commission (DEC) has arrested eight suspects in connection with drug-related offences in North-Western and Western provinces.

In North-Western Province, Muswila Mukumbi, aged 30, was arrested in Kasumbela area of Kalumbila District for unlawful cultivation of cannabis weighing 170 kilogrammes and unlawful possession of a firearm with six rounds of ammunition.

Also arrested in the same area were Patson Kaloku, Michael Lubelenga, Gertrude Lubelenga and Edward Mulaya. The four have been charged with unlawful cultivation of cannabis plants weighing a combined total of 350 kilogrammes.

In a separate operation in Kapombu area of Mwinilunga District, Maggie Insanga, aged 33, was arrested for unlawful cultivation of cannabis weighing 50 kilogrammes.

Meanwhile, in Western Province, Ululi Mulikita of Limulunga District and Sipopa Sipopa of Mongu District have been charged with trafficking in cannabis weighing 50.2 kilogrammes and 20.5 kilogrammes respectively.

All suspects are currently in lawful custody awaiting court appearances.

DEC Public Relations Officer Allan Tamba has thanked law enforcement partners and members of the public for their continued support and urged citizens to report any suspected drug-related activities.

Zambia Releases K22.1 Billion to Fund Public Services in December 2025

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The Zambian Government released K22.1 billion in December 2025 to finance public service delivery across the country.

Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, said the funds were allocated towards public service wages, domestic and external debt servicing, clearance of arrears, support to vulnerable households, as well as government programmes and infrastructure projects.

According to the Treasury releases, K4.6 billion was used to pay salaries, K10.9 billion was allocated to debt servicing and arrears, K2.5 billion went to transfers and social benefits, K1.9 billion supported government operations, while K2.2 billion was directed towards capital investments, including road works and rural electrification.

Dr. Musokotwane said the releases reflect government efforts towards maintaining fiscal discipline, economic stability and growth as the country transitions beyond the IMF-supported Extended Credit Facility (ECF) Programme.

He further stated that citizens, businesses and other stakeholders are encouraged to take part in the implementation of the 2026 National Budget to help ensure that resources are directed towards high-impact programmes nationwide.

Lundazi Police Recover Stolen Property Worth K800,000

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Police in Lundazi district in Eastern Province have recovered stolen property worth over K800,000.

The recovered property includes 22 motor bikes, 10 bicycles, 11 solar panels, 7 car batteries and another 5 solar batteries belonging to Zamtel.

Other items recovered included 9 television sets, 4 mattresses, 1 upright fridge, 3 radios, 2 amplifiers, 1 spotlight, 1 kitchen stand, 4 subwoofers, and a motor vehicle used to transport a stolen firearm.

Additionally, 49 bags of fertilizer were seized, with 29 of them belonging to the Lundazi Farmers Training Institute (FTC), along with 9 boxes containing 40 bottles of pesticides.

On display for recovered items were also an assortment of implements and various weapons used for breaking into a dwelling and for attacking people.

A Tumbuka version Bible was also among the recovered items.

Furthermore, police successfully recovered 24 heads of cattle from Malawi where a Zambian cattle rustler took them.

“There is no honey moon for police in the province,” Eastern Province Commissioner of Police Robertson Mweemba has said.

The commissioner who expressed profound gratitude to the district police criminal investigation unit and the police command assured the Lundazi community of improved security and has since waged war against all criminal elements in the district.

The east police boss called on the business community to strengthen cooperation with local police to ensure a crime-free Lundazi district.

“We are here to serve you and we are counting on your cooperation and support for us to work effectively. Report all suspected criminal activities to police,” Mr Mweemba said.

And chairperson for the Lundazi Business Association, Gowokani Zimba praised Lundazi police for their work in combating crime in Lundazi.

Mr Zimba said the business community was elated with police’s commitment in serving the community.

” We are pledging full support to the police service in Lundazi district and we are grateful for the work being done for the community,” Mr Zimba said.

“It is our prayer and expectation that a lot more should recovered,” he added.

Two Reliant Mine Workers Die in Underground Accident

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Two employees of Reliant Mines have died following a fatal underground accident at the South Ore Body (SOB) Shaft Mine in Wusakile Township, Kitwe.

According to police, three Reliant Mines employees were working underground when the person in charge went to test a blasting cable. At that moment, a loud explosion was heard within the shaft.

When the night shift reported for duty, workers discovered a hard hat, a gumboot and blood stains on the walls and floor, indicating that a serious incident had occurred earlier.

Rescue teams were immediately dispatched to the scene, and the bodies of the two workers were retrieved in the early hours of today. One body was found in pieces, while the other had been cut in two.

The deceased have been identified as Josiah Silomba, aged 42, a blaster in charge, and Justin Mutaba, aged 50, a utility vehicle operator. Both were residents of Wusakile Township and employees of Reliant Mines.

Copperbelt Province Police Commanding Officer Mwala Yuyi confirmed that the bodies have been deposited at Kitwe Teaching Hospital Mortuary pending postmortem examinations.

“An inquiry has been opened and investigations into the accident are ongoing,” Yuyi said.

Meanwhile, the Mine Workers Union of Zambia (MUZ) has expressed sorrow over the deaths of the two miners.

MUZ coordinator and public relations officer Michael Kaluba described the incident as tragic for the mining fraternity.

“As the Mine Workers Union of Zambia, we are deeply saddened by the loss of two of our colleagues in such tragic circumstances,” Kaluba said.

The union has called on mining companies, particularly contractors operating at Mopani Copper Mines, to review and strengthen safety systems and ensure compliance with established safety standards.