US President Barack Obama says there is need for a new model of partnership between Africa and America.

Addressed about 47 Heads of State and Government at the opening session of the US-Africa Leaders Summit in Washington DC on Wednesday, Mr Obama emphasised the need for a new model of partnership between Africa and America.

President Obama described Africa and America as equals that needed to focus on Africa’s capacity to solve problems and to grow.

He appreciated the valuable contributions made by the faith community whom he said had helped sustain US-Africa relations.

Mr Obama said the faith community reminded the world of its inherent dignity of every human being and the need to be rooted in empathy and compassion for all.

The US president said there was need to look at the opportunity to expand trade that could create jobs and new trade deals which he said was an important step to accelerate investment.

He said leaders at the summit would look at the area of strengthening governance upon which economic growth and free societies depended.

Mr Obama further said that deepening security cooperation against common threats was an important topic that needed to be discussed at the summit, which is the first of its kind to be hosted by an American president.

Meanwhile, President Obama held a news conference last evening as the three-day US-Africa Leaders Summit in Washington DC drew to a close.

Mr Obama said African leaders at the summit pledged to step up efforts in pursuing reforms that attracted investment, reduced barriers that stifled trade and to promote regional integration.

He said the US would also increase support to help build Africa’s capacity to trade with itself and the world.

Mr Obama also recognised the need to empower women if any meaningful development was to take place in Africa.

The summit, which started on Monday this week, ended on Wednesday with African leaders optimistic about their partnership with America.

FINANCE Minister Alexander Chikwanda has challenged the Bank of Zambia (BoZ) to maintain price stability and exchange rates if economic growth is to be stimulated.

Mr Chikwanda said economic growth relied on the BoZ’s ability to maintain a stable exchange rate and stimulate growth as well as manage the inflation rate.

He said the other challenge the bank needed to tackle was to contain inflation and currency volatility and at the same time induce growth in the economy.

“Economic growth on the other hand is an inescapable imperative to provide means for social equity and eliminating huge income disparities which, apart from moral consideration, are a hindrance and disincentive to growth and development,” Mr Chikwanda said.

The minister was speaking yesterday at Pamodzi Hotel at the BoZ’s 50th Golden Jubilee and launch of a book on economic policy in Zambia titled Zambia building Prosperity from Resource Wealth.

He said the Golden Jubilee should be an occasion for reflection and introspection which should propel the nation in charting the way forward.

Mr Chikwanda said BoZ’s policy to pursue financial inclusiveness was aimed at widening bank coverage because currently the bank’s population was below 40 per cent.

BoZ Governor Michael Gondwe said the bank had come a long way and that many changes had taken place in the legal framework, functions and operations.

Dr Gondwe said that changes made since 1964 reflected developments in the global economy as well as the domestic economic and political transformation.

He said this was the time when BoZ should take stock of changing events in order to assess future challenges and share views and experiences on how to ensure it played its part in promoting growth and supporting the Government’s efforts to ensure citizens had a stake in the nation’s prosperity.

BoZ’s first governor, Justine Zulu advised governments to adhere to governors’ advice on how to improve the country’s economy due to their vast experience.

“I left after serving for three years because the Government did not want to listen to my advice, and my fear is that if this system of ignoring special advice on national issues continues, it will plunge the nation into a serious financial crisis,” Dr Zulu said.

The Zambia Environmental Management Agency (ZEMA) today destroyed about 300 smuggled bricks of cigarettes worth over K1 billion at the Livingstone City Council’s dump site.

Speaking in an interview with ZANIS, Zambia Revenue Authority Corporate Communications Manager, Mumbuna Kufekisa, said the move was taken in accordance with the Food and Drugs Act Chapter 295 of the Laws of Zambia as well as the Public Health Act.

Mr Kefekisa said the cigarettes were smuggled into the country between November 2013 and July 2014.

“The cigarettes were being smuggled into the country on bicycles which often carry groceries and fruits being imported in petty consignments from neighbouring Zimbabwe,” he said.

He said the destroyed cigarettes included brands such as Gold Remington, Pacific Blue Seville’s, Kingsgate, Everest and Kingdom, adding that they did not have cigarette stamps from the Zambia Revenue Authority as required by law.

Mr Kufekisa explained that the smuggling of goods had a negative effect on the economy as it resulted in huge revenue losses for the government.

“Smuggling distorts market prices which in turn affects the manufacturing industries. The end result is unfair competition on trading grounds and also distortion of the economy”, he said.

He further added that that registered companies dealing in tobacco were at risk of closing down and the closure of such companies would mean loss of employment for many people in the country.

Mr Kufekisa said ZRA would tighten measures and ensure people who brought goods in the country followed the right procedures and paid the right amount of tax.

He has since warned smugglers not to expect sympathy but face the full wrath of the law once caught.

Matero MP Miles Sampa has decided to extend his Metro Cab youth empowerment initiative to the rest of the country.

Speaking at a signing ceremony in Lusaka with Big Brother Suppliers Limited to supply 10 taxis by September 01 2014, Mr Sampa said the positive response his initiative has received has motivated him to extend it to the rest of Zambia.

He said the Metro Cab initiative is not a business venture as some critics have been saying.

Mr Sampa said he genuinely wants to uplift the living standards of the Zambian youth.

He also dispelled assertions that his development initiatives are aimed at positioning himself for the republican presidency at some point in his political career.

Mr Sampa said he will use part of his gratuity from Parliament to fund the roll out of the Metro Cabs initiative.

He also revealed that he will approach more banks and other financial institutions to roll out the initiative.

And Big Brother Suppliers Limited Chief Executive Officer Max Chongo said his firm was thrilled to be associated with the Metro Cabs initiative.

The Zambia Environmental Management Agency (ZEMA) says air pollution by Mopani Copper Mines in Mufulira has reduced by 50 percent.

ZEMA Public Relations Officer Ireen Chipili has told Qfm News in an interview that this follows the mine’s investment in the new state of the art acid plant which has is capturing large quantities of sulphur dioxide being emitted by mining activity.

Mrs Chipili says the agency will in two weeks time conduct a further assessment to ascertain how the acid plant is operating.

She says Zambia Environmental Management Agency has been working tirelessly to ensure that residents of Mufulira are protected from the pollution emanating from the mining company.

Mrs Chipili has also appealed to other mining companies to emulate Mopani Copper Mines and adhere to the protection of the environment from mine pollution.

Government has released funds to clear all outstanding salary arrears for TAZARA employees who have been on a long running strike.

Transport, Works, Supply and Communications Minister, Yamfwa Mukanga, in a statement issued to QFM News says government expects operations at TAZARA to normalise with the release of the funds.

Mr Mukanga says government is further committed to securing more funds to dismantle the backlog of unpaid retiree benefits and for business operations in the near future.

He has since urged all TAZARA workers on the Zambian side to resume work immediately without fail.

Mr Mukanga adds that government will not be held at ransom by strike actions, especially when the right channels are not followed.

He says it is also important for the workers involved in the strike action to realize that any action that disrupts industrial harmony leads to losses on the part of the company like TAZARA which is not making profit.

Mr Mukanga has since reaffirmed government’s commitment in addressing the labour and operational challenges currently facing TAZARA in order to spur sustainable growth of the railway sector.

The Minister has also revealed that his ministry has engaged the Ministry of Finance and Management of Zambia Railways and the Union to work out modalities of how to settle the outstanding arrears for former Railway Systems of Zambia employees through the 2015 National Budget.