Patriotic Front (PF) Member of Parliament for Bwana Mkubwa Constituency Dr. Jonas Chanda has urged Government to support local Micro, Small & Medium Enterprises (MSMEs) and protect them from foreign competition, hence ensuring their growth into tomorrow’s Multinational Corporations (MNCs).

Debating in Parliament, Dr Chanda said according to the Infant Industry Theory, local MSMEs, like newborn babies in the Labour Ward, must be nurtured, protected and grown into mature companies before being fully exposed to aggressive competition with foreign companies. He emphasized that world-over, MSMEs are the engine for economic growth and development because they created more jobs than big MNCs. He has therefore urged government NOT to allow local MSMEs to be suffocated by big foreign MNCs.

The Lawmaker has further urged government to ensure joint ventures or partnerships between big foreign companies and local MSMEs to ensure financial skills and intellectual transfer which will grow the MSMEs and eventually make foreign MNCs irrelevant in future. He cited the recent signing of Joint Partnership Agreements between the Chinese-owned AVIC International and 16 local contractors in Lusaka for the L400 Road Project as a good starting point.

Meanwhile, Dr Chanda has urged Government to urgently develop and implement the National Trade Policy which will protect Zambia from being a dumping ground for cheap foreign imports that kill local industry and jobs. He stated that advanced countries viewed TRADE as WAR, and so there should be no Laissez-faire attitude towards international trade.

He cited examples of imported Toothpicks from China, Zambian caterpillars (Finkubala/Vinkubala) being packaged in the UK as organic “Mopani Worms” for UK and foreign exports, and the huge Trade Imbalance Zambia suffers against South Africa (over $2 billion USD) as some of the key issues the National Trade Policy must address.

First Quantum Minerals has urged Zambia to ensure competitiveness and stability in the mining sector in order to attract foreign direct investment and regain its slot as Africa’s largest copper producer.

First Quantum Minerals  Head of Government Affairs John Gladston said it is essential to this is a competitive electricity tariff structure that reflects the true cost of power production, including the fully depreciated hydropower facilities that are the backbone of the country’s generation.

Mr Gladston was speaking during the Zambia Mining and Energy Conference in Lusaka.

“We have every intention of making Zambia reclaim its rightful position as Africa’s number one copper producer. And I think that is entirely achievable,” he said.

“Fundamental to long-term private sector investment is knowing what the costs will be for the life of its investment in Zambia, and that a natural equilibrium must be sought to ensure equitable benefits between investors, government and communities,” Mr. Gladston said.

First Quantum says current electricity tariffs do not reflect the underlying production cost, and that reforms are needed to improve the operational efficiency of ZESCO.

The company has invested over $6.4-billion in its Sentinel and Kansanshi Mines and the Kansanshi Smelter and has paid more than $3.5-billion in taxes in the last 11 years.

Zambia is currently the second largest producer after the DRC.

The country produced 755 000 tonnes in 2017, ranking it seventh globally, while the DRC produced 850 000 metric tonnes, and DRC ranked sixth in the world with global leader Chile producing 5.33-million tonnes.

The Enel Group and Zambia’s Industrial Development Corporation (IDC) signed off on a financing agreement for around US$34 million for the construction of the 34MW Ngonye solar plant in Zambia.

The financing includes senior loans of up to US$10 million from the International Financing Corporation (IFC), up to US$12 million from the IFC-Canada Climate Change Program and up to US$11.75 million from the European Investment Bank (EIB).

The Ngonye project, Enel’s first power plant in Zambia, is located in Lusaka South Multi-Facility Economic Zone in the country’s south.

Enel will invest a total of US$40 million in the construction of the site, which is expected to generate around 70 GWh per year once completed.

The PV installation will be owned by a special purpose vehicle that will see Enel hold an 80% stake and the IDC holding a 20% minority stake.

The project has also signed off on a 25-year power purchase agreement with Zambia’s state-owned utility ZESCO.

Antonio Cammisecra, head of Enel Green Power, said: “The signing of this financing agreement marks an important step toward the start of an operational presence of Enel in Zambia, helping us establish a stronger foothold in the country. We will be contributing to Zambia’s sustainable development through our renewable energy, leveraging on the country’s abundance of resources and cooperation with reputed international and local partners within the framework of the Scaling Solar programme.”

“The ongoing initiative to standardize both tendering and financing processes, is creating economies of scale for solar projects across the African continent improving economic viability and resulting in the development of solar power in smaller markets and developing countries,” EIB Vice-President Andrew McDowell said.

“Scaling Solar has set a new standard for the development of solar power in Africa, starting with these two projects in Zambia,” said IFC Chief Executive Philippe Le Houérou.

The Tanzania Zambia Railway Authority has appealed to member states to inject more funds to improve the railway line’s operations and performance.

TAZARA deputy managing director Bentram Kiswaga said in a statement that additional investments will go a long way in ensuring the performance of the railway is improved.

Mr. Kiswaga said the bi-national railway needs to procure 20 reliable locomotives to increase carriage capacity.

Currently, the Chinese-funded and -built railway has only seven reliable locomotives used for passengers and wagons with each one carrying 30,000 tonnes annually.

Citing achievements scored for three years (2014/2015 up to May 2018), Mr. Kiswaga noted that TAZARA freight volumes had increased from 88,000 tonnes to 208,000 tonnes.

Others scores were the improvement of transit time from 20-30 days to 5-7 days consistently and almost zero theft in the last three years.

Mr. Kiswaga said despite the achievements, it was unable to pay salaries as it is not making profits. TAZARA needs to transport 600,000 tonnes annually to be profitable.