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File:Delegates at the COMESA Council of Ministers conference in LusakaThe proposed 2018 annual budget for the COMESA Secretariat and its agencies has declined by US$10 million dollars as several cooperating partners grants come to an end. This was revealed during the opening of the 37th meeting of the Committee on Administration and Budgetary matters.
“The annual budget will decrease from USD42 million in 2017 to USD32 million for 2018. This translates into a 30% reduction,” Mr. Ngwenya said. Member States are expected to contribute $16.7 million while cooperating partners are expected to provide $15.6 million
He told the delegates that funding from cooperating partners may however increase for 2018 if the programming processes of the 11th European Development Fund (EDF) funds are completed early and grant agreements are signed.
Among the COMESA agencies that will be affected are the Regional Investment Agency (RIA) the Federation of Women in Business (FEMCOM) and the COMESA Competition Commission.
In his official address, the Secretary General urged Member States to put up deliberate measures to increase the proportion of their financial contribution to the budget.
He noted: “At some point, our cooperating partners will naturally expect COMESA Member States to assume a greater share of funding of the COMESA work programme.”
To ensure the desired levels of integration and cooperation is achieved, the Secretary General called for the speedy implementation of agreed COMESA instruments by member states. He noted that the current levels of production and infrastructure development were affecting job creation and intra-COMESA trade.
“COMESA may not achieve the desired development milestones in 2020 at this low implementation level of COMESA instruments,” he said.
The Administrative and Budgetary Committee supports and guides the Secretariat in administrative, financial, human resources and audit matters.
During the three-day meeting, the Committee will consider matters relating to the management of human resources, review the current (2017) and previous (2016) performance and the 2018 work programme and budget for the COMESA Secretariat, institutions and agencies.
Delegates will examine the consolidated internal audit report which highlights areas that the secretariat is working on to enhance corporate governance and institutional systems
They will also review the internal financial controls ranging from strengthening of financial reporting, external audit, report on internal controls findings and new policy instruments.
Participants comprise technical officers from governments of the 19 COMESA member states. Their report will be presented to the 37th meeting of the COMESA Intergovernmental Committee and eventually to the Council of Ministers meeting next week for decision making.
Opposition leader Hakainde Hichilema and his Vice President Geoffrey Bwalya on Wednesday visited veteran politician Daniel Munkombwe who is hospitalized in UTH.
Mr Hichilema said they also strengthened the brothers and sisters who are admitted at the University Teaching Hospital (UTH) in Lusaka.
“We also learnt that our senior citizen, Mr. Daniel Munkombwe is unwell and admitted at the same hospital. We visited him and like everyone else who is not feeling too well, we wished him a quick recovery through prayers from the Almighty God,” Mr Hichilema said.
“We also learnt of the difficulties that patients were going through including health workers.”
“Let’s pray for one another as we aim for good health facilities in the country.”
Former Southern Province Minister Daniel Munkombwe being visited at UTH by GBM and HHFormer Southern Province Minister Daniel Munkombwe being visited at UTH by GBM and HHFormer Southern Province Minister Daniel Munkombwe being visited at UTH by GBM and HHFormer Southern Province Minister Daniel Munkombwe being visited at UTH by GBM and HH
AFC CEO Andrew Alli with Finance Minister Mutati
Zambia has become the first Southern African member country of Africa Finance Corporation (AFC), a leading development finance institution for infrastructure in Africa.
The accession of Zambia to AFC membership marks a significant milestone in the Corporation’s mission to address Africa’s infrastructure needs and build the foundation for robust economic development across the continent.
To date the Corporation has invested US$4.5 billion in projects across 28 African countries and in a wide range of sectors including power, telecommunications, transport and logistics, natural resources, and heavy industries.
Zambia’s membership accession supports AFC’s membership expansion strategy and the continued alignment of its country membership with its operational footprint. Zambia, which signed its letter of adherence on October 11, 2017, becomes the 16th member country of AFC. AFC’s other members are: Nigeria, Guinea Bissau, Ghana, Sierra Leone, Gambia, Liberia, Guinea, Chad, Cape Verde, Gabon, Côte d’Ivoire, Rwanda, Uganda, Djibouti and Kenya.
Andrew Alli, CEO of AFC, commented on the announcement: “We are excited to welcome Zambia as the first Southern African member country of AFC. We believe that investment in, and sustainable delivery of infrastructure in “land-linked” Zambia, will accelerate intraregional trade and lead to stronger economic development and growth in Southern Africa in particular and Africa in general. This goal can only be achieved if adequate transport, power, telecommunications, and industrial infrastructure are available and are functional. This is where AFC steps in, and we are excited by the challenges and opportunities that lie ahead”.
AFC already has a large presence in Zambia. To date, the Corporation has invested over US$150 Million in various projects in the power and downstream oil sectors. The Corporation has also provided trade finance to the Ministry of Finance for the importation of co-mingled oil products for refining into refined petroleum products.
Speaking on the announcement, Felix Mutati, the Minister of Finance, noted that “Over the years, AFC has shown its strong commitment towards infrastructure and economic development in Zambia. Today, we are happy to formally accept the invitation to join the membership of AFC. We look forward to greater engagement with the Corporation and their continued support in the delivery of signature infrastructure projects in Zambia.”
Given Lubinda, Minister of Justice also commented that “Zambia is pleased to join the membership of AFC and we look forward to a fruitful partnership.”
In association with Concerts SA, legendary jazz drummer Bernice Boikanyo will be touring Tanzania, Zambia and South Africa, while collaborating with local A-list musicians and imparting workshops.
Better known as ‘The Groove Master’ in music circles, Boikanyo will start his musical tour on the 2nd November, when he will be jetting off to Tanzania for rehearsals with his local band, to perform and do workshops at Karibu Music Festival.
The Afro Groove Master Tour 2017 will continue when he comes back home to perform at The Orbit. An all-female band will back him at The Orbit.: Siya Makuzeni (trombone), Tessa Lily (guitar), Lindi Ngonelo (piano) and Tebogo Sedumedi (bass).
The last leg of the tour will see him go to Zambia with workshops scheduled for 1st Dec and an exciting collaboration with top recording musicians Zambian singer/songwriters Mumba Yachi and James Sakala at Tecla Lodge on the 2nd Dec 2017.
Boikanyo’s complex sound as a drummer has established him as a very strong jazz influence in the South African music industry and he is best known for his accompaniment to many great musicians. His reach has been both local and international as he has shared stages with the likes of Stimela, Vusi Khumalo, Gito Baloyi, McCoy Mrubata and Papa Wemba, amongst many others. Boikanyo has also been fortunate enough to grace stages at festivals like the North Sea Jazz Festival in Holland.
A living testament that hard work and perseverance pays off, ‘The Groove Master’ has become a successful artist who has blended his own rhythms and given meaning and shape to melodies that are illustrated in his self-funded debut album My Soul. Lately, Boikanyo has been working with an array of artists including Caiphus Semenya and Letta Mbulu, Jimmy Dludlu, Pops Mohamed and Roy Hargrove.
Boikanyo refuses to be seen as just a drummer sitting behind the band. His journey has been an inspiration to many young Gauteng (South Africa) artists who look to him on a weekly basis, for either drum lessons or music advice when he is not touring. With his musical background steeped in jazz, Boikanyo still does not believe in the singular definition of his sound, but instead insists that soul and isicathamiya are also part of the mix.
Coordinated by BakTu Musik, Bernice Boikanyo’s Afro Groove Master Tour 2017 is supported by Concerts SA through the Music Mobility Fund, a funding mechanism which offers opportunities for South African musicians to undertake live music tours.
President Edgar Lungu is being seen off by vice-President,Inonge Wina at Kenneth Kaunda International Airport before departing for Angola.Roan Member of Parliament Chishimba Kambwili has described Vice President Inonge Wina as a woman of integrity with no scandals.
Contributing to debate on the budgetary allocation for the office of the vice president, Mr Kambwili who has recently been making corruption allegations against President Edgar Lungu and other government officials says he admires working with Ms Wina unlike other people and other offices.
He says if there is any office at the moment that he has a lot of respect for is the office of the vice president.
Mr Kambwili adds that people working in the office of the vice president are not seen showing off and doing wrong things.
Turkey is ready to cooperate with Zambia against the Fetullah Gulen Terrorist Organization (FETO), the group behind last year’s defeated coup attempt in Turkey, by assuming the running of formerly FETO-linked schools, Turkey’s labor and social security minister said Wednesday.
Speaking at a reception hosted by Zambia’s ambassador to Turkey in honor of Zambia’s 53rd Independence Day, Julide Sarieroglu said that Turkey is ready to work together with Zambian officials to clear her country of FETO infiltration.
“The transfer of FETO schools in Zambia to the Maarif Foundation will be the best solution to prevent the unjust treatment of students and local staff,” she said.
Turkey established the Maarif Foundation to take over the administration of overseas schools linked to FETO.
It also establishes schools and education centers abroad.
Nineteen African countries have handed over FETO schools to Maarif or closed them at Ankara’s request.
Sarieroglu emphasized that the fight against FETO “continues with determination both inside and outside Turkey” for national and international peace and tranquility.
“Zambia, with its political and economic potential, is positioned between the important countries of the African continent,” she said.
“We take care that our friendly relations with Zambia and our bilateral business partnership is developing in every possible area,” she added.
Zambian Ambassador Bwalya Nondo also emphasized the importance of the two countries’ relations based on mutual respect and common interests.
“Zambia is grateful for the steady support that Turkey has provided in different areas through TIKA” — the Turkish state’s charity arm, the Turkish International Cooperation and Coordination Agency — and other institutions, he said.
FETO and its U.S.-based leader Fetullah Gulen orchestrated the defeated coup attempt of July 15, 2016, which left 250 people martyred and nearly 2,200 injured.
Ankara accuses FETO of being behind a long-running campaign to overthrow the state through the infiltration of Turkish institutions, particularly the military, police, and judiciary.
FETO also has a considerable international presence, including private educational institutions that serve as a revenue stream for the terrorist group.
Zambia Law Development commission Justice Roydah Kaoma shakes hands with Justice Minister Given Lubinda after presenting the Law Reform Project Report on the review of prisons Act and Allied Legislation at Southern Sun Hotel in Lusaka
Justice Minister Given Lubinda has reaffirmed government’s commitment to reduce the number of people incarcerated in correctional facilities in the country.
Mr. Lubinda notes that overcrowding is one of the biggest challenges the Correctional services is facing as a result of inter alia, delays in confirmation of sentences by the High Court and listing of appeal cases, long remand periods due to delays in case flow within the justice system and low number of inmates granted parole.
He says an avenue to address this is to reduce custodial sentences by making provision for community service sentences for those convicted of misdemeanors.
Speaking he received the Zambia Law Development Commission report and recommendations on the review of prisons Act and allied legislation, Mr. Lubinda says government is working towards the attainment of an operational correctional system in its true form.
Mr. Lubinda says government will take all necessary measures to support the efforts of the Zambia Law Development Commission and the Zambia Correctional Service in this reform process.
And Zambia Law Development Commission Chairperson Justice Roydah Kaoma says there is need to promote effective and sustainable prison reforms in Zambia which are in compliance with international and regional human rights standards and good governance.
Justice Kaoma has further recommended the need to review the prisons Act and allied legislation so as to respond to the needs of vulnerable groups such as circumstantial children, juveniles, the special needs of women and elderly inmates and persons with disabilities.
Speaking earlier, the European Union Ambassador to Zambia Alessandro Mariani said the handover of the review of prisons Act and allied Legislative by ZLDC is another important step in the Zambian path towards prison reform and protection of prisoners’ rights.
Meanwhile United Nations Development Programme Country Director Mandisa Mashalogu has reiterated the UN’s commitment to continue supporting the government in domesticating international standards in the administration of correctional services.
Zambia Law Development commission Justice Roydah Kaoma presents to Justice Minister Given Lubinda the Law Reform Project Report on the review of prisons Act and Allied Legislation during the hand over ceremony at Southern Sun Hotel in Lusaka
President Edgar Chagwa Lungu speaks with Agriculture Minister Dora Siliya during the 112 th Zambia National Farmers Union annual General Congress at Mulungushi International Conference Center in Lusaka on Thursday, October 26,2017 -Picture by THOMAS NSAMA
President Edgar Lungu says the current agricultural marketing challenges as a result of surplus grain and depressed maize prices on the local market could cause farmers and other value chain players producing themselves out of the market if left unchecked.
Speaking when he graced the 112th Zambia National Farmers Union (ZNFU) annual congress in Lusaka, President Lungu said that the theme for this year’s annual congress “Sustaining Agriculture in Shrinking Markets” is therefore appropriate.
The President said that government remains focused on making farming the mainstay of the economy for enhanced household food security, poverty reduction, and increased income generation for the citizens.
President Lungu said that government was working hard to address the current crop marketing challenges to avoid slowing down the momentum of the economic diversification agenda.
The President noted that agriculture development and food security will only be sustainable if food production is diversified, made more market-oriented and profitable to all players in the value chain.
President Lungu added that farmers will only see sense in the agricultural diversification agenda once production of crops, livestock and fisheries become profitable.
He further stated that he’s convinced that functioning and competitive agricultural markets are critical to achieving government’s planned economic diversification agenda.
The President assured the nation that Government remains focused on making farming the mainstay of the country’s economy for enhanced household food security, poverty reduction, and increased income generation for every citizen.
President Edgar Lungu has assured the nation that Government remains focused on making farming the mainstay of the country’s economy for enhanced household food security, poverty reduction, and increased income generation for every citizen.
The head of state said that agriculture development and food security will only be sustainable if food production is diversified, made more market-oriented and profitable to all players in the value chains.
And President Lungu said that Government has already put in place measures such as reducing prices of stock feed ingredients to promote livestock and fisheries production and to enable other value-chain players diversify more into maize and soya beans value addition.
President Edgar Chagwa Lungu with ZNFU president Jervis Zimba and Agriculture Minister Dora Siliya during the 112 th Zambia National Farmers Union annual General Congress at Mulungushi International Conference Center in Lusaka on Thursday, October 26,2017 -Picture by THOMAS NSAMAPresident Edgar Chagwa Lungu with ZNFU president Jervis Zimba , Agriculture Minister Dora Siliya and Livestock and Fisheries Minister Michael Katambo on arrival at Mulungushi International Conference center for the 112 th Zambia National Farmers Union annual General Congress in Lusaka on Thursday, October 26,2017 -Picture by THOMAS NSAMA
Patriotic Front Media Director Sunday Chanda, Mrs Chikonde and His Excellency Mr. Chikonde at the independence celebrations in London.
Director of Protocol and Vice-Marshal of the Diplomatic Corps at the Foreign and Commonwealth Office in the United Kingdom Julian Evans has said Zambia is developing its position as a finance hub in Africa.
And Zambia’s High Commissioner to the United Kingdom His Excellency Mr. Muyeba Chikonde has assured UK based companies doing business in Zambia that the outlook for the Zambian economy continues to be bright and on a positive growth trajectory.
Meanwhile, as Zambia celebrated its 53rd independence anniversary on Tuesday, the Westminster Abbey in London prayed for the country’s leaders and asked God to grant them wisdom and to give them grace to remain faithful to the people they are leading.
During Zambia’s 53rd Independence Celebrations held at Zambia House in London on Tuesday, Representative of both Her Majesty The Queen and the British Government Julian Evans said Zambia’s financial sector is making great strides forward in diversifying its services offering and increase trade, with firms exploring ways to offer more specialised financial products, such as investment banking, portfolio financial packages, and issuance of corporate bonds.
He said improvements made to strengthen the economy and wider financial sector across Zambia have not gone unnoticed.
Mr. Evans said London is the world’s leading financial and professional services Centre, while Zambia is developing its position as a finance hub in Africa saying both have benefitted from strong relationships with one another, which have deepened in recent years.
He said the UK Government is increasing stability and strengthening democratic institutions with the aim of helping Zambia over the longer term, including reducing its reliance on external aid.
Mr. Evans said that several major UK companies operate in Zambia, including Vodafone, Barclays Bank, Zambia Sugar – a subsidiary of Associated British Foods, and Konkola Copper Mines – a subsidiary of Vedanta. On the education side he said both International Leaders Programme delegates and Chevening scholars from Zambia visit the UK.
“Earlier this month Rory Stewart, who is Minister for Africa at the Foreign and Commonwealth Office and simultaneously a Minister of State at the Department for International Development, visited Zambia. The aim of his visit was to discuss the future of Zambia’s relationship with the UK and to see first-hand the transformational results of UK aid and meet beneficiaries to hear how this support has changed their lives. Our relationship is multi-faceted. In the economy we have been supportive of the Finance Ministry, including giving advice for the annual budget for 2017. In terms of development, we are the second largest donor country (after the US) and are providing key support in priority areas such as healthcare,” he said.
He said bilateral trade between UK and Zambia this year is increasing by around 45 percent over the last decade.
He further said by 2020 UK aid in Zambia will have helped improve the nutrition of over 2 million women, babies and children, given almost half a million more women choice about the size of their family by providing access to modern methods of family planning, provided three million people with access to better sanitation, supported 56,000 children to gain a decent education.
“Additionally we have created 4000 jobs to help people lift themselves out of poverty and will create a further 23,000 by 2020. The total bilateral development budget is over £50 million annually. Development of the Private Sector through UK investment is also key; Tullow Oil, is the latest UK-listed firm to open in Zambia, carrying out initial exploratory work in Luapula Province in northern Zambia. Furthermore, we have an estimated 8,000 British nationals in Zambia, spread throughout the country. Approximately 60,000 British tourists, in addition to His Royal Highness Prince Harry, visit Zambia each year, drawn by such attractions as the Victoria Falls and the South Luangwa National Park,” he said.
And High Commissioner Chikonde said the United Kingdom and Zambia continues to enjoy warm and cordial relations and strong business ties have been formed over decades saying people to people relations have remained a strong pillar of the two country’s bilateral relations.
He was happy to note the increasing participation of UK companies in the Zambian economy such as the CDC (Commonwealth Development Corporation) Group invest in Zambeef, Prudential in the Insurance services sector, and Tullow Oil in the Oil Exploration. He further invited other UK companies to come and explore investment opportunities in the priority sectors of the Zambian Economy.
He said the recent High level visits to Zambia show the close ties between Zambia and the UK adding that Zambia is delighted by Prince Harry and Meghan Markle’s visit to Zambia specifically to the Victoria Falls in Livingstone late August this year.
“We were equally honoured to receive the RT. Honorable, the Lord Mayor of the City of London Alderman Dr. Andrew Parmley in September 2017and Mr. Rory Stewart, Joint Minister of State for the DFID and Minister of State for Africa at the Foreign and Common Office,” he said.
Meanwhile an Evensong was held in honour of Zambia’s Independence Day which fell on 24th October, 2017 and the focus of the service was to pray for Zambia, its leaders and citizens.
During the intercession prayers, the church asked God to grant Zambian leaders wisdom as they lead the people.
“We pray for Zambia and its leaders. God grant wisdoms to its leaders. Give prosperity and integrity to the leaders as they lead the people of Zambia. Let the leaders remain faithful to its people. As they celebrate their national day give them peace and blessing. Bless its leaders, the High CommissioZambia is developing its position as a finance hub in Africa
LONDON, Thursday 26th October 2017- Director of Protocol and Vice-Marshal of the Diplomatic Corps at the Foreign and Commonwealth Office in the United Kingdom Julian Evans has said Zambia is developing its position as a finance hub in Africa.
And Zambia’s High Commissioner to the United Kingdom His Excellency Mr. Muyeba Chikonde has assured UK based companies doing business in Zambia that the outlook for the Zambian economy continues to be bright and on a positive growth trajectory.
Meanwhile, as Zambia celebrated its 53rd independence anniversary on Tuesday, the Westminster Abbey in London prayed for the country’s leaders and asked God to grant them wisdom and to give them grace to remain faithful to the people they are leading.
During Zambia’s 53rd Independence Celebrations held at Zambia House in London on Tuesday, Representative of both Her Majesty The Queen and the British Government Julian Evans said Zambia’s financial sector is making great strides forward in diversifying its services offering and increase trade, with firms exploring ways to offer more specialised financial products, such as investment banking, portfolio financial packages, and issuance of corporate bonds.
He said improvements made to strengthen the economy and wider financial sector across Zambia have not gone unnoticed.
Mr. Evans said London is the world’s leading financial and professional services Centre, while Zambia is developing its position as a finance hub in Africa saying both have benefitted from strong relationships with one another, which have deepened in recent years.
He said the UK Government is increasing stability and strengthening democratic institutions with the aim of helping Zambia over the longer term, including reducing its reliance on external aid.
Mr. Evans said that several major UK companies operate in Zambia, including Vodafone, Barclays Bank, Zambia Sugar – a subsidiary of Associated British Foods, and Konkola Copper Mines – a subsidiary of Vedanta. On the education side he said both International Leaders Programme delegates and Chevening scholars from Zambia visit the UK.
“Earlier this month Rory Stewart, who is Minister for Africa at the Foreign and Commonwealth Office and simultaneously a Minister of State at the Department for International Development, visited Zambia. The aim of his visit was to discuss the future of Zambia’s relationship with the UK and to see first-hand the transformational results of UK aid and meet beneficiaries to hear how this support has changed their lives. Our relationship is multi-faceted. In the economy we have been supportive of the Finance Ministry, including giving advice for the annual budget for 2017. In terms of development, we are the second largest donor country (after the US) and are providing key support in priority areas such as healthcare,” he said.
He said bilateral trade between UK and Zambia this year is increasing by around 45 percent over the last decade.
He further said by 2020 UK aid in Zambia will have helped improve the nutrition of over 2 million women, babies and children, given almost half a million more women choice about the size of their family by providing access to modern methods of family planning, provided three million people with access to better sanitation, supported 56,000 children to gain a decent education.
“Additionally we have created 4000 jobs to help people lift themselves out of poverty and will create a further 23,000 by 2020. The total bilateral development budget is over £50 million annually. Development of the Private Sector through UK investment is also key; Tullow Oil, is the latest UK-listed firm to open in Zambia, carrying out initial exploratory work in Luapula Province in northern Zambia. Furthermore, we have an estimated 8,000 British nationals in Zambia, spread throughout the country. Approximately 60,000 British tourists, in addition to His Royal Highness Prince Harry, visit Zambia each year, drawn by such attractions as the Victoria Falls and the South Luangwa National Park,” he said.
And High Commissioner Chikonde said the United Kingdom and Zambia continues to enjoy warm and cordial relations and strong business ties have been formed over decades saying people to people relations have remained a strong pillar of the two country’s bilateral relations.
He was happy to note the increasing participation of UK companies in the Zambian economy such as the CDC (Commonwealth Development Corporation) Group invest in Zambeef, Prudential in the Insurance services sector, and Tullow Oil in the Oil Exploration. He further invited other UK companies to come and explore investment opportunities in the priority sectors of the Zambian Economy.
He said the recent High level visits to Zambia show the close ties between Zambia and the UK adding that Zambia is delighted by Prince Harry and Meghan Markle’s visit to Zambia specifically to the Victoria Falls in Livingstone late August this year.
“We were equally honoured to receive the RT. Honorable, the Lord Mayor of the City of London Alderman Dr. Andrew Parmley in September 2017and Mr. Rory Stewart, Joint Minister of State for the DFID and Minister of State for Africa at the Foreign and Common Office,” he said.
Meanwhile an Evensong was held in honour of Zambia’s Independence Day which fell on 24th October, 2017 and the focus of the service was to pray for Zambia, its leaders and citizens.
During the intercession prayers, the church asked God to grant Zambian leaders wisdom as they lead the people.
“We pray for Zambia and its leaders. God grant wisdoms to its leaders. Give prosperity and integrity to the leaders as they lead the people of Zambia. Let the leaders remain faithful to its people. As they celebrate their national day give them peace and blessing. Bless its leaders, the High Commissioner and diplomatic staff and Zambians who are in the UK,” the church prayed.
Zambia’s High Commissioner to the United Kingdom His Excellency Mr. Muyeba Chikonde read the second lesson which came from the book of Galatians 6 chapter 1-10. The service was attended by all Mission staff and some Zambians who are based in the UK.ner and diplomatic staff and Zambians who are in the UK,” the church prayed.
Zambia’s High Commissioner to the United Kingdom His Excellency Mr. Muyeba Chikonde read the second lesson which came from the book of Galatians 6 chapter 1-10. The service was attended by all Mission staff and some Zambians who are based in the UK.
His Excellency Mr.Muyeba Chikonde speaking during Zambia’s 53rd Independence Celebrations at Zambia House in LondonDirector of Protocol and Vice-Marshal of the Diplomatic Corps at the Foreign and Commonwealth Office in the United Kingdom Julian Evans
Minister of Agriculture Dora Siliya during the tour of the solar milling plant in Bauleni
More than 10, 000 people in Miluji ward in Mufumbwe constituency of North-Western province will benefit from solar hammer mill soon to be commissioned in the locality.
In an interview, Miluji ward councillor, Freddy Mukelabai said about 10, 600 people would be able access power once the mill is commissioned.
Mr Mukelabai said the stance taken by government to install a solar hammer mill will improve the living standards of people in the wards.
He said the central location of the solar hammer mill which is stationed at Tukuta Uwane cooperative will also supply power to about 25 staff houses that will include Chime Mujidu Rural health center and Miluji primary school respectively.
The civic leader said solar hammer mill will enable people in the area to grid their maize at affordable prices and it will also be milling maize which would later sold to the community.
Mr Mukelabai said the coming of the mill in the ward will create employment for the youths in entrepreneurship skills such as welding, barbing and gardening among other activities.
The civic leader has appealed to government through the Food Reserve Agency (FRA) to provide maize shed depots in the area saying unscrupulous maize dealers were swindling farmers by maize at cheap prices as farmers are desperate of selling their produce.
Mr Mukelabai said FRA should quickly enter the ward in order to buy all the maize in the ward before the unscrupulous maize dealers mop up the maize from farmers.
He said government should also construct a boarding secondary school in the ward as pupils from Miluji, Shipandanga, Kabanga and Mulambwa primary schools cover about 200 kilometers to access secondary education either from Kaoma district in Western province or Kamizekezeke in Mufumbwe district.
Mr Mukelabai complained that due to long distances for children to access quality education, there is an escalation of early marriages of both boys and girls in the ward.
He said the only way of curbing early marriages in the area is only by constructing modern secondary schools adding that he is also busy sensitizing parents of the need of sending their children to school.
Mr Mukelabai further appealed to government to construct a health post in Miluji ward saying that one health post which is at Shipunji in Chief Mushima’s area cannot manage to carter for the whole population in the locality.
He said some expectant mothers fail to cover long distances to Shipunji clinic and just opt to deliver in their homes without the care of any health personnel posing a threat to newly born babies.
The International Monetary Fund has sharply criticized the Bank of Zambia for implementing what the global lender calls an incoherent monetary policy.
In a Country Report on Zambia published this week, the IMF team led by Outgoing Mission team for Zambia Tsidi Tsikata, the Washington based institution says the manner in which the Bank of Zambia has responded to has implemented its monetary policy has threatened financial stability.
The IMF states that the Monetary Policy Rate which is set by the Bank of Zambia has lost its aspiring role in the country’s Monetary Policy Framework.
In April 2012, the Central Bank took the first step towards modernizing its Monetary Policy Framework when it changed its operational procedures.
It formally shifted its operational procedures from targeting monetary aggregates or quantities to interest rates when it introduced the Policy Rate and established an informal interest rate corridor, set at ± 2 percentage points around the Policy Rate.
Following that decision, the operational target of Monetary Policy changed from reserve money to the overnight interbank rate.
Initially, Monetary Policy aimed at maintaining the 30-day moving average of overnight interbank rate close to the Monetary Policy Rate and within the corridor, but soon afterwards the moving average was reduced to 5 days.
Currently, the BoZ aims at maintaining the 5-day weighted average overnight interbank rate within the policy corridor.
But the IMF says the implementation of the monetary policy faced several challenges, which have hindered the modernization of the Monetary Policy Framework.
“The main underlying rationale for introducing the MPR was to mitigate the cost of credit. Although the introduction of the Monetary Policy Rate in Zambia was in line with similar measures taken by other African Central Banks modernizing their Monetary Policy Frameworks, the decision was taken within a context of the BoZ trying to exert greater control over lending rates,” the paper acknowledged.
“Indeed, less than one year later the BoZ introduced a ceiling on commercial banks’ lending rates,” it says.
The IMF stated that the ceiling did not produce the expected results and was removed in November 2015, along with several other Monetary Policy measures taken by the BoZ in an attempt to stabilize the kwacha during a sharp depreciation episode.
“In the first two years following the introduction of the Monetary Policy Rate, the BoZ kept the overnight interbank rate within the (wide) policy corridor 95 percent of the time. When the overnight interbank rate went outside the corridor, deviations from both bounds were relatively small and short-lived. The Monetary Policy Rate has lost its aspiring role in Zambia’s Monetary Policy Framework,” it charges.
It adds, “In an interest-rate framework, the Monetary Policy Framework plays a central role by clearly signaling the Monetary Policy stance. It also conveys, in a forward-looking framework, the CB’s assessment on future economic developments. In addition, by being much less volatile than under a MTF, it enhances policy signals, increasing the efficiency of the MP.”
The IMF says the frequent discrepancies between the Monetary Policy Rate and the Over Interbank Rate blurs policy signals making Monetary Policy opaque, harms the transmission mechanism of Monetary Policy and undercuts the credibility of the new operational framework.
“In addition, although under these circumstances interbank rates reflect better monetary conditions, they cannot perform properly the role of a meaningful reference rate, as they become very volatile and unpredictable. MP in Zambia appears to be trying to achieve multiple and often conflicting objectives,” it says.
The IMF also charges that one key reason behind the “policy rate smoothness problem” seems to be that the BoZ appears to face constraints on its ability to adjust its PR.
It says there is evidence that the difficulties faced by BoZ to adjust fully the Monetary Policy Rate reflect public and political concerns over the cost of credit and, therefore, growth.
“While the monetary authority sets the MPR, market conditions determine the interbank rate, which “transfers” to commercial banks the ownership of high interest rates. This kind of constraint is not unique to Zambia and is common in many other countries, and evinces the importance of operational independence. The lack of a coherent MPF not only causes unintended consequences, but also some of them are precisely what the CB is trying to avoid in the first place.”
It notes, “Despite the success so far in stabilizing the ER and inflation, the policy response created several distortions and unintended consequences, with large economic costs that could have been largely mitigated.”
“Some of them are, Credit growth has collapsed and lending rates have soared. Liquidity risks, funding costs and lending rates soared following the liquidity crunch created by November’s 2015 MP reaction. Consequently, credit growth plunged, as it has been restricted to prime clients, conflicting with BoZ’s objective of containing borrowing costs and increasing the supply of credit, harming financial inclusion and development.
It says the Monetary Policy response has threatened financial stability.
COSAFA say Zambia is almost ready to host this year’s Under-20 Championship.
The COSAFA Under-20 Championship will be staged in Kitwe from December 6-16 with games scheduled for Nkana Stadium and Arthur Davies Stadium.
“We have not finished our exercise but let’s put it that we are 90 percent there,” COSAFA Chief Operations Officer Sue Destombes said in Kitwe after inspecting proposed facilities.
“We are very fortunate that we have got two stadia that are regularly used for Premier League football and CAF Champion League,” Destombes said.
She revealed some teams maybe accommodated in Ndola saying Kitwe alone cannot host the 14 nations expected to compete at the tournament.
“There are very nice facilities in Kitwe but they can’t take all the teams. We may have to put some teams in Ndola,” Destombes said.
Zambia are the defending champions of the annual Southern African youth championship.
MINISTER of National Development Lucky MulusaMinister of National Development Planning Lucky Mulusa has expressed optimism that the 7th National Development Plan will help Zambia realize its full potential economically.
Speaking when he flagged off the dissemination of the seventh National Development Plan at Mulungushi International Conference Center this morning, Mulusa said the distribution of the seventh National Development Plan is aimed at spearheading the strategies put across towards the target for Zambia to become a prosperous middle income country by 2030.
Mulusa who reiterated President Edgar Lungu’s sentiments that Government will focus on the mining, agricultural and tourism sector says Government has already put in place a national performance framework which will help various public institutions to logically link Development Programmes in a manner that will lead to the realization of the vision in a soonest possible time.
“Government has already put in place a national performance framework which will help various public institutions to logically link Development Programmes in a manner that will lead to the realization of the vision in a soonest possible time” Mulusa said
And the Pan African Radio news reports that Lusaka Province Minister Japhen Mwakalombe speaking at the same event said the 7th National Development Plan will help reduce the high poverty levels in Zambia.
And Mwakalombe says the dissemination exercise should be extended to all parts of the country especially in rural areas where development is needed most.
“The 7th National Development Plan will help reduce the high poverty levels in Zambia” Mwakalombe said
The country’s annual inflation rate for October 2017 has decreased to 6.4% from 6.6% recorded in September 2017.
Central Statistical Office r Director of Census and Statistics John Kalumbi has told a media briefing that this means that on average, prices increased by 6.4% between October 2016 and October 2017.
He says the movement of consumer prices indices show a steady increasing trend in the prices of commodities during the period of October 2016 to October 2017.
Mr Kalumbi, however, states that annual inflation rates over the same period have shown a decreasing pattern from 12.5% in October 2016 to 6.4% in October 2017.
He says the downward movement in the annual inflation rate was mainly attributed to price movements in both food and non-food items.
Mr Kalumbi further states that the annual food inflation rate for October 2017 was recorded at 4.9% compared to 5.0% recorded in September 2017, representing a decrease of 0.1 percentage points
And Mr Kalumbi says Zambia recorded a trade deficit of K2,055.6 million kwacha in the month of September 2017 from a trade deficit of over K400 million recorded in august 2017.
He says the trade deficit means that the country imported more in September 2017 than it exported in nominal terms.
