Join our community of SUBSCRIBERS and be part of the conversation.
To subscribe, simply enter your email address on our website or click the subscribe button below. Don't worry, we respect your privacy and won't spam your inbox. Your information is safe with us.
The breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWA
Ministry of Fisheries and Livestock in the district has opened the second round of sale of breeding bulls at Chishinga Livestock Breeding Centre in Kawambwa.
Disclosing the matter to ZANIS District Fisheries and Livestock Coordinator, Moono Mayoba says individual farmers or organization are eligible to purchase only one bull for cross breeding purposes at a subsidized price.
Ms. Mayoba disclosed that the bulls which are ready for sale are the beef breed, Boran and Brahman which are meant to empower the local farmers with good breeding stock.
She said process of sale of livestock bulls at the center will go up to March 9 2018 following the end of the first round in December 2017.
The breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWAThe breeding bulls the Ministry of Fisheries and Livestock are offering for sale to the general public at Chishinga Breeding Centre in Kawambwa to empower the interested farmers and organisations with good breeding stocks for improving their current heads. Picture courtesy by: Aston Nyungwe – ZANIS KAWAMBWA
A team of commandos from Mushili commando unit preparing to go into a dam to continue searching for the last body of the six drowned pupils of poosa school primary in Serenje District.So far five bodies have been retrieved.
Five bodies of the six pupils who drowned in Poosa dam at Kachipapa farm in Serenje Central province have been retrieved.
Among the bodies retrieved are one female and four males.
The bodies were retrieved on Monday between 10.30 hours and 12 hours, by a team of Zambia Army divers from the Mushili Commando Unit in Ndola on the Copperbelt.
Meanwhile, Central Province Minister, Sydney Mushanga says Poosa Primary School, where the funeral for the deceased pupils is being held, will remain closed for a week.
Mr. Mushanga has announced that government has taken full responsibility of the funeral expenses, including food for the bereaved families and the mourners.
The Commandos, who were deployed on Sunday, resumed the search for the bodies today.
Last Friday, six pupils, among them 2 girls, drowned, after a boat they were in capsized on Poosa dam.
Commandos captured searching for the remaining body in the dam where the six pupils drowned. Picture by SUNDAY BWALYA/ZANISFrom (left) is central province PEO Jennifer Banda, Central province PS Chandra Kabwe and Serenje MP Maxwell Kabanda inspecting the dam where the six pupils from a nearby School drowned in. Picture by SUNDAY BWALYA/ZANIS
The Zambia Metrology Agency,a Statutory Body under the Ministry of Commerce, Trade and Industry (MCTI), has seized three hundred (300) containers of cooking oil from a named manufacturing company in Lusaka.
This is when the Agency’s inspectors carried out a random compliance inspection at the company’s manufacturing plant and found all packaged cooking oil products non-compliant with regards to the net content declared.
The inspected products of cooking oil included 750 milliters, 2 Liters, 2.5 Liters, 5 Liters, 10 Liters and 20 Liters.
Fifty products (50) from each denomination were sampled and a total of 300 products were seized for non-compliance.
The company was also found using four (04) unverified automatic fillers for packaging.
The seized underfilled cooking oil containers have since been disposed of through the Courts.
The client was summoned for a hearing and shall be charged and penalised accordingly.
It is Law that all companies involved in producing, distributing, packaging, buying or selling of measured goods must have their weighing and measuring instruments verified regularly for accuracy of measurements.
The Law also provides that prepackaged products must.be of correct quantities declared as well as have accurate labelling on the packaging
The Zambia Metrology Agency carries out compliance inspections on weighing and measuring instruments used for trade as well as prepackaged products with regards to accuracy of measurements.
This is to protect consumers against unjust measurements and to promote fair trade.
.
Zambia Metrology Agency is a Statutory Body under the Ministry of Commerce, Trade and Industry (MCTI) established by the Metrology Act No 6. of 2017. The Agency is the national
Green Buffaloes on Tuesday fight to get discharged from the intensive care unit to keep their 2018 CAF Confederation Cup hopes alive.
Buffaloes host Egyptian club El Masry at Nkoloma Stadium in Lusaka with a major uphill battle to overturn a 4-0 away loss they sustained on February 10 in Port Said.
The army side must score four goals without reply to ensure the tie is decided on post-match penalties that will see the winner over both legs advance to the intermediate round of the 2018 CAF Confederation Cup.
“We want to record a positive result and we have 90 minutes left to play. We have a chance of progressing to the next round,” Buffaloes coach Bilton Musonda said.
But questions are still being asked about Buffaloes porous backline and blunt attack led by Friday Samu who has yet to open his 2018 account following the 14 goals he netted in the 2017 season to finish 3rd on the top scorers chart.
The onus is now firmly on Buffaloes to redeem themselves with a more disciplined performance at home to try and pull-off a dramatic survival plot and qualify to March’s penultimate knockout round of the CAF Confederation Cup.
President Joseph Kabila confers Foreign Affairs Minister Joseph Malanji shortly before his departure at Kenneth Kaunda International Airport
Zambia has issued a public apology to President of the Democratic Republic of Congo (DRC) Joseph Kabila over the accident that happened over the weekend. According to a statement released to the media by Minister of Information and Broadcasting services, Ms Dora Siliya, the accident was caused by a driver who failed to obey police directives to give way to the oncoming presidential motorcade.
Ms Siliya, who is the Government Chief Spokesperson, further said that the action by the driver of the Toyota Dyna endangered the life of the visiting head of state, his entourage and members of the public, who were by and on the road.
“On behalf of his Excellency the President of the Republic of Zambia, I wish to convey sincere apologies to his Excellency, Mr Joseph Kabila and the people of the Democratic Republic of Congo, ” concluded the statement.
Below is the full statement
PRESS STATEMENT ON THE ROAD TRAFFIC ACCIDENT INVOLVING THE PRESIDENTIAL MOTORCADE OF HIS EXCELLENCY, PRESIDENT JOSEPH KABILA OF THE DEMOCRATIC REPUBLIC OF CONGO DURING HIS WORKING VISIT TO ZAMBIA
BY
THE CHIEF GOVERNMENT SPOKESPERSON, HON. DORA SILIYA, MP.,
I wish to inform the nation that, last Saturday, 17th February, 2018, his excellency the president of the Democratic Republic of Congo, Mr. Joseph Kabila visited Zambia on a working visit. During the visit, an unfortunate incidence involving the visiting president’s motorcade occurred on Sunday, 18th February, 2018 at about 10 35 hours.
The brief facts of the matter are as follows: His excellency president Kabila’s motorcade was involved in a fatal road traffic accident on leopards hill road, opposite the Saudi and French embassies. As the president was proceeding to the residence of the First Republican president, Dr Kenneth Kaunda, in the state lodge area, a driver of a Toyota Dyna registration number ACJ 8318, identified as Andrew Phiri, aged 35, of Twikatane compound in Lusaka, failed to obey police directives to give way to the oncoming presidential motorcade. To protect the motorcade the presidential escort provided cover resulting in the collision with the Toyota Dyna.
The driver in question, had together with other motorists been instructed by police officers manning the route, to divert to Petroda filling station on Leopards Hill road, to give way to the presidential motorcade. He however opted to use the opposite lane and overtook about ten to fifteen vehicles whose drivers had obeyed the police instructions.
The action by the driver of the Toyota Dyna endangered the life of the visting head of state, his entourage and members of the public, who were by and on the road.
In view of this unfortunate incidence, motorists are strongly advised to always obey police instructions in accordance with the provisions of the road traffic act number 11 of 2002. The police act, chapter 107 of the laws of Zambia also gives power to the police, to control and regulate traffic. The driver of the Toyota Dyna in question therefore breached the provisions of the road traffic and the police acts. His actions must be condemned by all law abiding members of the public.
The incidence involving the motorcade of his excellency the President of the Democratic Republic of Congo is extremely regrettable, as it could have been avoided, had the driver of the Toyota Dyna obeyed the instructions of the police.
On behalf of his excellency the president of the republic of Zambia, I wish to convey sincere apologies to his excellency, Mr Joseph Kabila and the people of the Democratic Republic of Congo.
A news item from Kenya that shows what can be done about the fish situation in Africa. Are we doing enough to address this in Zambia? With our great natural resource base we should be investing in an export focused industry that can be sustainable long after all the copper has been dug out of the ground. Our present focus on just replacing imports with fish for local consumption by farming them is shortsighted. We need a long term plan that will provide employment and foreign exchange way into the future.
……………………………………………………………………………………………………………….
Fish Exports earn more than Imports
Kenya earned much more from fish exports in the last three years than it paid for imports despite rising volumes shipped in, and an outcry over foreign sea food flooding the local market. The country earned Sh8.5 billion from selling abroad, which was higher than the Sh4.03 billion paid for imports in the period under review, according to official figures. Export volumes in the last three years stood at 16,429 tonnes compared with 40,991 tonnes imported in the same period.
“The earnings from exports were higher compared to imports because of the high value that Kenya’s fish earned in the world market,” says the Department of Fisheries.
Kenya mainly imports frozen tilapia, frozen mackerels, sardines, prawns and salmons among others. The country exports frozen Nile Perch, tuna, octopus, frozen whole tilapia and lobsters caught in the lakes and the Indian Ocean notably to the EU. Fishmongers have been complaining of an increase in cheap imports mainly from China, which they say affect sales as they cannot compete with the local catch, which are expensive.
The government says Kenya will continue importing fish to meet the widening deficit, due to dwindling stocks both in the aquatic and marine space. Kenya has an annual deficit of 800,000 tonnes, which is filled through imports.Lake Victoria, traditionally a major source of fish in the country, is currently suffering from depleted stocks. The stocks have been dwindling because of the use of wrong fishing gear and overfishing. The government is taking corrective measure such as restocking of the lake and curbing illegal fishing.
Kenya’s per capita consumption of fish has gone up to seven kilos from two kilos in 2008.
The country is yet to attain the full potential in fishing at the Indian Ocean. Under the Exclusive Economic Zones, Kenyan fishermen are allowed to fish up to 200 nautical miles from the shores but they are operating short of five nautical miles for lack of appropriate fishing gear to explore the deep sea waters. Kenya has a large exclusive fishing zone with potential to produce 300,000 tonnes of fish annually estimated at about Sh75 billion. However, it is yet to optimally utilise the opportunity. This has given room to developed nations with advanced gears to explore Kenya’s fishing potential. Illegal fishermen are also using the opportunity to exploit Kenya’s resources.
Lusaka Province Minister Bowman Lusambo on a familiarization tour of City Market Market and part of Lusaka CBD
Lusaka Province Minister Bowman Lusambo has vowed to transform the face of Lusaka as he begins his tour of duty as Lusaka Province Minister.
Speaking to Journalists Monday morning after touring the gutted City Market on a familiarization visit, Mr Lusambo revealed that he will spend most of his time in the field interacting with the residents of Lusaka to find solutions to their challenges.
Mr. Lusambo said he was touring the gutted market in response to an outcry from Marketeers that the trading conditions at the market had worsened following the heavy rains that the city has been experiencing.
The Provincial Minister has since disclosed that he will meet with business houses and cooperating partners to find a short term solutions to the roofing problem at the market which was gutted last year.
Mr. Lusambo who is also Kabushi Member of Parliament said he will not disappoint the people of Lusaka and most importantly the appointing authority in the execution of his new role.
“We are here to work and for me, work starts right here. There will be no time for wearing neckties,” he said.
“In this market, we have a lot of people, some are widows taking care of many orphans and it is important that we quickly find ways of improving the situation at the market,” Mr. Lusambo said.
Mr. Lusambo who also held meeting with market authorities said he will mobilise the business community to provide tents at the market as a short term measure.
He also called for team work and hard work in Lusaka Province in order to deliver on the promises of a modern capital city.
“I will not do this alone. I will work with my team at the Provincial Administration and everyone else in Lusaka to ensure that we create a city that we can all be proud to live in. My record is clear where I am coming from and I am confident that with the support of our people here, we will change the face of Lusaka because that is what we are here for,” Mr. Lusambo said.
He said he toured the market to reassure the people that President Edgar Lungu is still committed to addressing their plight as the government looks at ways of reconstructing the gutted market.
President Lungu at State House during the swearing in ceremony
MMD Diehards Youths National Coordinator Gerald Chiluba says there is nothing sinister about the demotion of their leader Felix Mutati as the move is meant to booster team work.
And Chiluba has commended his party president for jump starting the country’s economy which he found in a state of disrepair when he was appointed.
In a statement issued to the media outspoken youth said MMD members were greatful to president Edgar Lungu for the extraordinary gesture towards the party when he entrusted the country’s economy in the hands of their leader.
“As MMD Die hard youth wing we wish to thank His Excellence President Edgar Chagwa Lungu for having selflessly appointed Hon. Felix Chipota Mutati to serve as minister of finance.
“The gesture was very extraordinary not only in the political life of Zambian politics but also in the political life African politics. Because it calls for trust and confidence to entrust the sensitive ministry like ministry of finance into the hands of an opposition leader.
“We wish to categorically state that, the appointing of ministers is the President’s prerogative and therefore no one can question the presidents wisdom to switch players on the pitch as the driving interest of the coach is ensure that victory is achieved by using techniques that sometimes cannot be understood by spectators,” Chiluba said.
Chiluba thanked Mutati for his valuable contribution towards repairing the country’s economy and that he hoped the spirit of hard work will be taken to his new Ministry.
“We also want to thank Hon. Felix Mutati for having jump start the country’s economy which was almost in the state of desrepair, because of his valuable contribution and team work he managed to move the vehicle of our economy a thousand miles ahead. We are confident that he shall take the spirit of hard work to the Ministry of Works and Supply because our interest is to effectively and deligently serve the Zambian people,” he said.
To the opposition, Chiluba said there was nothing worthy of celebrations because his President will continue to add value to the governance of the country through his new post.
“As MMD youths we want to assure Hon. Mutati of our continued unreserved suppport in his new jacket as minister of works and supply and we shall continue to act without hesitation to defend him and the party from unwarranted attacks.
“Finally, we want to urge some opposition political parties not to make an issue out these reshuffles because there are a normal thing in every government in the world. Therefore, there is nothing sinister about the reshuffle of Hon. Mutati for the opposition to be yapping uncontrollably,” he said.
Mutati was last week removed as Minister of Finance and taken to the Ministry of Works and Supply.
The Zambia Consumer Association (ZACA) has called on the millers and grain traders in the country to resolve issues surrounding instability in the mealie meal prices.
ZACA Acting Executive Secretary Juba Sakala said the millers should engage with the grain traders and Government to create a win- win situation as the country had enough maize stock and the price increment was unjustifiable.
Mr Sakala said the millers should not just increase the mealie meal price because the fuel price had been adjusted upwards but consider the consumers that would be affected negatively.
He also appealed to traders and transport operators to be more considerate on the decisions regarding the adjustments of fuel as the consumers were recovering from the issue of settling school fees.
And the Grain Traders Association of Zambia (GTAZ) executive director Chambuleni Simwinga has dispelled accusations by the millers that the traders were holding on to maize stock causing the mealie meal price increase.
[Times of Zambia]
Lusaka Province Minister Bowman Lusambo has warned that he will not tolerate lawlessness from local authorities.Mr. Lusambo said many councils have disappointed the public by carrying out illegal land allocations.He said he will endeavor to ensure proper planning is done, to avoid challenges of flooding that have rocked the province.
Mr. Lusambo said his first task is to ensure that he inspects markets across the province.He further said he is determined to ensure other districts are fully developed and infrastructure brought to proper standards.
Mr. Lusambo was speaking when he appeared on Tv2’s News and Current affairs Segment of Morning Live.He called on all government departments to unite and work together as a team to deal with the challenges of the province.
Mr. Lusambo also urged residents of Lusaka to maintain high standards of cleanliness.
File picture:Finance Minister Hon. Felix Mutati, Minister of National Development Planning Hon. Lucky Mulusa, and Minister of Commerce Trade and Industry Hon. Margaret Mwanakatwe listen to
By Chibamba Kanyama
1. My first contact upon returning from IMF in 2017 was Felix Mutati, Finance Minister. We discussed strategies on engaging stakeholders on the planned IMF programme, including his Cabinet colleagues apprehensive about the Program. ‘Assure them you have already embarked on tough measures such as removal of subsidies ahead of the programme,’ I shared with him, fully aware he did not have consensus on the subject.
2. Subsequent meetings centred on implications to the economy if he was removed as Minister. International counterparties saw him as only mover of the IMF programme. I offered to meet the Head of State so that I could personally share with the President how to handle and manage the Minister of Finance during IMF programme discussions and when the programme kicked in. Did not have the opportunity.
3. The issue of China also came in; as the best option to Zambia’s budget support and balance of payments. The view was China would never support the budget let alone balance of payments support. The other strong feeling was that it would be suicidal to the economy to engage China when negotiations with the IMF were ongoing.
4. Mr. Mutati is now out of the Ministry of Finance; this happening when the IMF discussions are reaching a dead end owing to debt sustainability problems. However, according to international assessments, the economy taking shape: economic growth at a reasonable level of 3.3 percent year on year; inflation around 6.2 percent, government hit its targets for the 2017 budget, the deficit at around 6.8% of GDP better than projected (7.5%), the debt position as a ratio of GDP reduced from 60 to 56 percent; the Zambian Revenue Authority beating the target by over K1 billion as we closed the year, and Moody giving a stable rating early in 2018.
5. Mutati also credited for introducing debt acquisition reforms that would see parliament in 2018 decide on debt contraction procedures.
6. International watchers on the Zambian economy shared apprehensions early this year of what would happen if Mutati was fired. They concluded, ‘That would imply a complete takeover of the current process and an erosion of economic institutions.’
7. The promotion of Margaret Mwanakatwe as Finance Minister has not gone well with many economic watchers, analysts and advisors on Zambia. Following my interview with Bloomberg where I indicated some level of optimism, I was swamped with international calls. Two of the fund management advisors made it very to me, ‘Chibamba, you seem to be the only one optimistic about the appointment of Mwanakatwe. We don’t know her, and she is little known despite having worked for a global institution and served as Minister of Commerce’.
8. Despite my numerous concerns such as the new path to restructure Chinese debt which I think Mwanakatwe will be driving, and the motivation for her appointment (possibly as a friendly party in government’s desire to support spending ministries), and the outstanding petition, I am still optimistic she will succeed purely on the back of my two assumptions:
• She is much more accepted in the Cabinet ranks than Mutati was. It means objections to fiscal compromises will be taken in good context. In other words, she has more authority within the ranks to say ‘no’ to unplanned spending than her predecessor had.
• She is an accountant and a banker who is expected to apply maximum due diligence and ethical leadership in the execution of her duties. Being a banker provides her the best leverage to negotiate financial deals with expected acumen. She should, however, work extremely hard to restore the decline in confidence following the removal of Mutati as Finance Minister. The court case about her election and uncertainty around it will play large among investors, and some are already unsettled.
If she can bring the IMF back to the table, which is very unlikely as things stand, international investors will rate her highly. It is more a question of whether she has the appetite for an IMF program than what the IMF has just said about the unsustainability of Zambia’s debts. For me, a firm decision about the IMF programme must be made in the next few days so that we end all speculations around it as this is damaging the credit rating of the country.
A film about an African witch camp by Welsh-Zambian director has won a Bafta for outstanding debut.
Rungano Nyoni’s feature ‘I Am Not A Witch’ tells the story of an eight-year-old Zambian girl accused of being a witch.
The director, who was brought up in Cardiff from the age of eight, accepted the prize alongside producer Emily Morgan.
She appeared to be shocked to have won, saying: “We’re not prepared.”
After thanking her husband, mother and niece, she said: “I’m now pulling things from the air. Erm, who else? Oh, and the cast and the crew, thank you.”
Nyoni spent a month at a witch camp in Ghana to research the film.
For the film, she decided the idea of introducing a little girl accused of being a witch into the group of old women in her story, would see them re-thinking their lives.
The low-budget feature was made with funding from organisations including Ffilm Cymru and the BFI, and it was the first Zambian film to be shown at the Cannes film festival.
Zambian actor, Patrick Shumba Mutukwa, who plays a role in Black Panther did an interview with Time Machine Zambia.
TMZ: Tell us a little bit about yourself, your background and upbringing?
Patrick Shumba Mutukwa: Thank you for having me. I am the 3rd born out of a family of 6. Born at the UTH hospital in Lusaka Zambia. Growing up in ZAF lusaka was great except the friends you grew up with would eventually move to a different city as soon as their parents retired. It was hard keeping friends as a kid. As a result of that, my siblings became my best friends. We moved to Dambwa, Livingstone when I was in the 6th grade. Life had to start all over again.Making new friends and starting a new way of life. My dad would eventually pass away when I was in the 9th grade leaving behind a widow who was a housewife for most of her life. We struggled a lot. The life we knew turned upside down. It wasn’t uncommon to go days without food. Despite all of this, we bonded together as a family and also fell in love with the community. My first stage experience was at Future Hope Church where I was an usher and a worship leader. It also helped that I was a Head Boy at Linda High School in 2001 as well as the Debate Club President.
TMZ: When did you get into acting and doing voice work?
Patrick Shumba Mutukwa: In retrospect, acting has always been there for me. We were expected to “act” like everything was ok even when we were at a low point in our lives. When I joined the drama team at church, it was so rewarding to tell someone else’s story and escape my realities for a bit. Voice over started in America. Well, Ive always been told that voice is distinct. If you ask anyone who knows me, they will describe me by my voice. The one pivotal moment that started all of this was when I recorded my first audio book for a girlfriend’s blind mother for her birthday. Watching her experience the book through my voice was amazing.
TMZ: What role do you play in Black Panther and what was the whole experience like?
Patrick Shumba Mutukwa: I have 2 roles. I am a Border Tribe Warrior plus a dialect and accents assistant.
TMZ: What was it like training the cast of Black Panther with Dialect and accents – was this a difficult or an easy feat…what was the process like?
Patrick Shumba Mutukwa: It was an unbelievable experience. Here I am with Lupita N’yongo, Angela Bassett and a few of my favorite actors trying to hold my composure as I was teaching them to speak like me. It was a much easier task once I got over the emotions. Most times, the director would stop the entire production, call me up, fix the dialects and then continue.
TMZ: Anything Zambians in particular can Look forward to in the movie and what do you think a movie like Black Panther will do for the Film industry as a whole?
Patrick Shumba Mutukwa: This movie is revolutionary. A first of its kind. The story is MARVELous and the action is great. You will hear some Nyanja words when KILLMONGER is being locked to the ground by the Doras. I honestly think this movie will change how superhero movies will be fined. A much more relatable superhero.
TMZ: Anything else you would like to add and where can people follow you on Social media?
Patrick Shumba Mutukwa: Certainly. This is only the beginning. The world will know about Zambia and all that we have to offer. My dream is to inspire as many lives as I can. Nothing is impossible with hard work and faith. Instagram is SHUMBA_PATRICK and Facebook is SHUMBA PATRICK MUTUKWA
The Securities and Exchange Commission says it does not regulate digital currencies unless they meet the definition of a security as defined by the Securities Act.
The Commission has since advised investors, both current and potential, to observe extreme caution when dealing with self-proclaimed cryptocurrency educators, trainers and advisors whose numbers are rapidly increasing in Zambia.
SEC Chief Executive Officer Mr. Phillip Chitalu said the credibility and accurateness of their teachings and advice is unverified.
Mr Chitalu said the Commission further cautions those that are operating any systems and platforms within Zambia that effect or facilitate cryptocurrencies to ensure that they are not in any way abrogating any part of the Securities Act No. 41 of 2016.
He said those that meet the description of securities in accordance with the Act should ensure that they are registered with the Commission.
Mr Chitalu said the Commission believes that the emergent technology on which cryptocurrencies and other related digital assets and products are based may prove to be positively disruptive, transformative and efficiency enhancing.
“This could ultimately lead to an increased assortment of investible products and assets within financial markets and possibly enable the investment process to be made more efficient. However, as this process continues to develop, it is important that caution be observed by investors,” Mr Chitalu said.
He said the Commission has noted the rise in popularity and prominence of cryptocurrency and related digital assets.
“These products and assets are numerous with their ever broadening form spanning from the famous Bitcoin, alternative coins, Initial Coin Offerings (ICOs) to other products and assets that are emanating from blockchain technology. Their Market has grown rapidly with more and more people opting to use or invest in them,” he observed.
He added, “The question running through most people’s minds is whether these products and assets are financial securities? The answer to this question largely depends on the characteristics and use of the particular product and asset under consideration. Some of the above mentioned products and assets, for example ICOs seem to possess features of financial securities. This is not to say that these products and assets are indeed financial securities but that they possess similar attributes.”
“Whether any digital assets and products fit the description of a financial security in accordance with the Securities Act No. 41 of 2016 (“the Act”) will be assessed on a case by case basis focusing primarily on each asset and product’s characteristics, features and uses as indicated above.”
Mr Chitalu stated, “Many have asked whether these products and assets are safe to invest in and if they fall under the Commission’s ambit. The fact of the matter is that currently these products and assets are not regulated by the Commission unless they meet the definition of a security as defined by the Act and this, as indicated above will be considered on a case by case basis.”
He said it is for this reason that the Commission would like to urge any individuals or entities that are currently investing in or intend to invest in cryptocurrencies and related products and assets to exercise restraint and caution as they do so as the products/assets are largely unregulated and not subject to the jurisdiction of the Commission.
“It is also cardinal to recognize the fact that cryptocurrency product and asset markets span national borders and that significant trading occurs on systems and platforms outside Zambia. Invested funds therefore can quickly move across therein amplifying numerous risks including making it particularly difficult to pursue perpetrators in the event of fraud or any other undesirable occurrence,” he said.
