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HH labels IG Stella Libongani’s conduct as foolish and idiotic after Police escort him out of Chipata

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UPND president Hakainde Hichilema arrive for the Kabwata rally
UPND president Hakainde Hichilema arrive for the Kabwata rally

UPND leader Hakainde Hichilema has charged that Inspector General Stella Libongani’s recent conduct is foolish and idiotic.

Mr Hichilema said Mrs Libongani has turned the Zambia Police Service into a PF militia wing.

He was commenting on a statement by Mrs Libongani that the UPND leader had been escorted out of Chipata by police officers after he defied a police order not to hold public meetings.

“Go and tell Libongani that her behavior is idiotic and does not inspire confidence in the Zambia Police. Why is she always quick to carry out foolish orders from her boss Sata? You tell her that her days are numbered in that office and she should use them,” Mr Hichilema said.

He said over 200 armed police officers descended on the UPND members who were gathered to attend a public meeting which he was to be addressed and prevented him from meeting a traditional leader.

“She is lying when she says they have escorted me out of Chipata, that’s not true. Am still here but I will not tell you my exact location and no one will push me out of Eastern Province because am a Zambian and I have every right to go wherever I want and Libongani will not stop me.”
Mr Hakainde said Mrs Libongani has been turned into an agent of a brutal dictator.

“What is sad is that when this brutal dictator goes, Libongani will go down with him. Let her redeem herself by acting professionally and not as a PF cadre.”

Mr Hichilema vowed to continue meeting people across the country whether President Sata likes it or not.

“They came here and butchered innocent and defenseless people as a way of intimidating them. These tactics will not work. People have always made up their minds that PF is going and no amount of brutality will change that fact.”

Ex-Athletics coach backs Matete’s ZAA presidential bid

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Retired athletics coach Charles Lupiya has supported Samuel Matete’s candidature for the Zambia Athletics Association presidency.

Ex-World 400 meters hurdles champion and 1996 Olympic silver medallist, Matete, on Saturday announced that he will challenge long serving incumbent ZAA president Elias Mpondela at the elective general meeting to be held in December.

Lupiya said Matete ,whom he indentified in the 1980s in Kitwe, has passion for athletics.

“It is a very progressive development. Most of the Zambians expected that one day there will come some body to challenge for the ZAA presidency,” he said.

“It is important to have passion for athletics like Samuel, if he is given the opportunity by the people to run ZAA, Samuel is a fighter,” Lupiya said.

He added:” I expect delegates to the annuel general meeting to give Samuel a chance to run athletics.”

Meanwhile, ZAA on Saturday revealed that its 2014 general meet will take place in December.

Simon Bwalya-Nkana will beat Zamalek

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Forward Simon Bwalya is confident that Nkana will beat Egyptian giants Zamalek in this Saturday’s 2014 CAF Champions League match in Kitwe.

The two teams will renew their old rivalry in the first found, first leg match at Nkana Stadium as they fight for place in the group phase.

“I believe we will carry the day,” Bwalya said.

“Every game is different you have to take it serious so I will do my best to help the team,” he said.

Bwalya said Nkana have high chances of beating Zamalek in Wusakile.

“The chances of winning are very high. No matter what we are going to do it because in God all things are possible,” he added.

Meanwhile, Zamalek are scheduled to arrive in Zambia on Wednesday afternoon via the Simon Mwansa Kapwepwe Airport in Ndola.

Police hound HH from Mambwe

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hh

Police have hounded out UPND president Hakainde Hichilema and his entourage from Mambwe District in eastern province where they had gone for a series of rallies.

UPND vice Dr. Canisius Banda who is part of the entourage has confirmed the development to QFM News in a telephone interview.

Dr Banda says they were trailed Police and hounded out of Mambwe District armed police officers this afternoon.

Dr. Banda has further disclosed that earlier in the day, Police tear gassed and assaulted hundreds of innocent citizens with one person sustaining a broken collar bone at a UPND party official’s residence whom they had gone to visit.

And UPND Deputy Secretary General Kuchunga Simusamba says the party has instructed its members to always arm themselves against the Police whenever they are attending public gatherings.

Mr Simusamba says this follows today’s incident in Mambwe district in Eastern province where UPND members were brutalized by Police.

And Mr. Simusamba says UPND president Hakainde Hichilema’s tour will continue whether the Police like it or not.

Insurers propose stricter measures to stop road accidents

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accidents
The Insurers Association of Zambia (IAZ) says its stands ready to work with the government to halt carnages on Zambian roads which Vice-President Dr. Guy Scott revealed is receiving attention at the highest level of leadership in the country.

IAZ president Mr Shipango Muteto said insurance companies in the country are willing to work with the government to come up with a multi-sectoral practical policy response to the unabated cases of road accidents which are costing the country greatly, through the loss of vital human resource and millions of kwacha in property damage annually.

“To this effect, as an Association we will encourage our member companies to do their part in ensuring that the conditions that attach to the insurance of vehicles especially public service passenger carrying vehicles are tightened to compel motorists and vehicle owners to pay attention to the conditions of their vehicles before they are taken on the public roads and duration that such vehicles are operated or driven,” Mr Muteto said.

The Republican Vice-President, when officiating at the 3rd International Association of Prosecutors African –Indian Ocean Regional conference in Livingstone on the 3rd of March 2014, said the practical measures being proposed by IAZ would make the insurance sector contribute to making a dent on the high number of fatalities on our roads. “It is about …time somebody came up with a practical policy measure..” Dr Scott said when referring to the policies that the insurers want to put in place in a bid to assist in halting the increase in road accidents.

Mr Muteto said a number of insurance companies in Zambia already have defined stricter insurance underwriting conditions which if they are all adopted as a market practice will go a long way to compel bus operators to embrace appropriate risk management principles which will ultimately result in the reduction of the current carnage on our roads.

He said some of these practical responses being advocated for by IAZ include among others that only buses which are five (5) years old or less are licensed to operate as public service passenger carrying vehicles, as clearly some of the old busses have become costly to maintain hence compromising the roadworthiness of such buses.

“As such, buses which have spent long hours on the road, the degree of wear and tear is very high, and it is therefore our expectation that such bus which are used for hire and reward are written off by the end of five years,” Mr Muteto said. “We also believe that for long distance driving, all journeys longer than 800 kilometres to be undertaken by two drivers as no one driver should drive for more than 8 hours without rest. This has contributed to the poor judgments on the part of drivers, resulting in some of the road accidents which we have so far witnessed.”

Mr Muteto also said the local insurers agree with most stakeholders’ observation that night driving on major highways be restricted, to be undertaken between 04.00hrs to 21hrs only.

“To support these efforts, we also strongly recommend that all public service buses are subjected to quarterly inspections or servicing after clocking 10,000 kilometres (maximum), whichever comes earlier, this must be conducted by franchise dealers of the buses/commercial vehicles and reports availed directly to the licensing authorities and us as Insurers,” said Mr Muteto. “If adverse features are detected in the reports, these may be incorporated as warranties, at the option of the Insurer. Service records must be kept and produced in the event of loss/claim.”

Mr Muteto said IAZ also demand that each vehicle is checked by the operator’s mechanics before commencement of the journey and if adverse features are noted, such vehicle should not to be allowed on the roads and all operators of buses to maintain a record of such instances.

“We also strongly demand that no flammable liquids/substances, toxic chemicals or other dangerous materials are to be carried on passenger carrying buses and that the fleet owners maintain log sheets indicating drivers hours on duty and the time of commencement of duty to end of duty and kilometres driven,” he said. “All PSV drivers have adequate training for the vehicles which they operate and bus conductors shall not be allowed to drive the buses under any circumstance.”

The Insurers Association believe that all these measures once adopted will assist in the reduction of the number of accidents involving public service vehicles on the roads.

Nevers Mumba has never at any time drawn a salary from MMD-Mbulakulima

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Dr Mumba Nevers Mumba
Dr Mumba Nevers Mumba

The opposition Movement for Multiparty Democracy MMD has described accusations that party president is living a flamboyant lifestyle at the expense of the party published in one of the diary tabloids as false and malicious.

MMD national treasurer Mwansa Mbulakulima said the accusations in the paper are pure lies meant to deceive party members about president Dr Nevers Mumba as he has never at any time drawn a salary from the party.

Mr Mbulakulima challenged the MPs making the accusations to came out in the open and prove that Dr Mumba is being paid by the party.

He wondered why the MPs making the accusations have decided to remain invisible instead of being courageous and responsible enough by coming out in the open.

“At the level of a member of parliament I believe that they should be very courageous and responsible enough and face the reality”.

“It is not my intention to accuse the media but I think next time say what is your name, let them have a press briefing were they can tabulate that the president gets 3,000 for security they president gets 6,000 for water, he gets 10,000 as his monthly salary and then substantiate these claims for people to see”. Mr Mbulakulima said.

Mr Mbulakulima further wondered as to what sort of MPs the same MPs are who would paddle lies by making accusation which can not be backed with any proof.

He accused the same MPs of trying to incite the members of the party to revolt against Dr Mumba when the president has even gone further and pledged to contribute towards each by elections that comes.

He said the party was aware of 3 MPs who have always not supported Dr Mumba as party president and have complained about their contributions.

And MMD vice national secretary Chembe Nyangu said the party president fends for himself through among other things preaching.

“Zambia knows Dr Mumba because he has been around for a long time. Dr Mumba gets invited to preach by international churches that is one of the ways he fends for himself”. Mr Nyangu said.

Meanwhile Mr Nyangu has announced that the party national executive committee has decided not to ratify the appointment of Kapembwa Simbao as their national secretary.

Mr Nyangu said the position will go to members to nominate bonafide member to stand for elections at the next NEC meeting within 21 days.

The duo were speaking at press briefing at the party secretariat in Lusaka today.

Mighty tame Kitwe United

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Mighty Mufulira Wanderers kicked off the 2014 FAZ Division One North campaign with a 2-1 win over Kitwe United at Shinde Stadium on Sunday.

Strikers Brian Ambungeni and Preston Musumali scored for Mighty in this Week One encounter in Mufulira.

Defender Andrew Tembo pulled a consolation goal for the Buchi Boys.

The win was a sweet revenge for Mighty who were last season beaten twice by Kitwe.

Elsewhere, right winger Green Mumba scored the lone goal that propelled Forest Rangers to a 1-0 win over Lime Hotspurs in the Ndola derby.

Kalulushi Modern Stars defeated their town rivals Chambishi 1-0 while Ndola Wanderers forced a goalless draw away at Chindwin Sentries in Kabwe.

The Ronald Mukosha coached-Lumwana Radiants thumped Grinaker of Chililabombwe 2-0 while Ndola’s Gomes Wanderers beat Mining Rangers 2-1 away at Nkana Stadium in Kitwe.

Legal review Commission sworn-in

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FILE: Acting Chief Justice Lombe Chibesakunda (far left), Tourism and Arts Minister Sylvia Masebo (second from left), Director of Public Prosecutions Mutembo Nchito (second from far right) and Justice Minister Wynter Kabimba (far right) at the just ended 2013 Southern African Chief Justices Forum and Conference and Annual General Conference at Zambezi Sun Hotel in Livingstone.
FILE: Acting Chief Justice Lombe Chibesakunda (far left), Tourism and Arts
Minister Sylvia Masebo (second from left), Director of Public
Prosecutions Mutembo Nchito (second from far right) and Justice
Minister Wynter Kabimba (far right) at the just ended 2013 Southern
African Chief Justices Forum and Conference and Annual General
Conference at Zambezi Sun Hotel in Livingstone.

A twenty member commission of inquiry on the Legal and Justice Sector Reform Programme has been sworn-in at ceremony held in Lusaka this morning.

The Commission is being chaired by Justice Frederick Chomba with Solicitor General Musa Mwenye being the vice chairperson and Mrs. Maria Kawimbe as the secretary.

Members of the commission include Director of Public Prosecutions (DPP) Mutembo Nchito, Transparency International Zambia (TIZ) President Lee Habasonda, Enoch Mulembe, Emily Sikazwe, Stephen Mumbi, Mike Pwete, Geoffrey Sakulanda, Patrick Chisanga, and Annette Chirumba.

Others are Florence Chibwesha, Anderson Ngulube, Ernest Ibeele, Doris Nayame, Collins Lundah, Kangwa Chisanga, Ireen Chongo, and Frederick Chilukutu.

And speaking shortly after she sworn-in the commission, Acting Chief Justice Lombe Chibesakunda expressed confidence that members of commission will work tirelessly to scrutinize the country’s Judicial and legal systems by finding out whether the systems have responded to Zambia’s political, economical and social needs.

Justice Chibesakunda said if the country’s Judicial and Legal systems have not responded to Zambia’s needs, the commission should bring out the change for efficient and effective administration of Justice.

She stated that this is especially that 50 years of independence the country still has a replica of English law structure when its history and culture is different from that of England.

Police tell UPND not to be confrontational

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Deputy Inspector General of Police Solomon Jere
Deputy Inspector General of Police Solomon Jere

Deputy Inspector General of Police, Solomon Jere says he directed the Police Command in Eastern Province to stop the UPND from holding any meetings in areas where there are pending court cases in relation to by-elections out of respect for the judicial process.

This follows revelations by the UPND that Dr. Jere stopped the party from holding rallies in Eastern Province.

Dr. Jere told QFM News in an interview that he arrived at the decision to stop such rallies after receiving facts from the Police Command in Eastern province.

He said it is imperative that the citizenry obey and respect the judicial process.

He said that it is not in the interest of the Police to see the country taking the path of anarchy like other countries in the region.

Dr Jere has since advised the UPND not to start drawing the Police into unnecessary confrontations by disobeying the law.

The Deputy Inspector General of Police has appealed to the UPND to ensure that they lead by example by abiding by the stipulated laws in place.

Dr Jere said the Police will ensure that they uphold the law as stipulated in the constitution.

[QFM]

Nevers Mumba to sue the Post

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Movement for Multi Party Democracy president Dr. Nevers Mumba
Movement for Multi Party Democracy president Dr. Nevers Mumba

MMD president Nevers Mumba says he has instructed his lawyers to sue the Post Newspapers for allegedly publishing false news about him.

Reacting to today’s lead story in the Newspaper suggesting that he has been living a flamboyant life style a move which has forced some of the MMD members of parliament to withdraw their financial support to the party, Dr. Mumba told QFM News in an interview that the allegations are false and baseless.

He said he does not and has never gotten any monies’ from MMD members of parliament to sustain his living.

Dr Mumba explained that he has since instructed his lawyers to sue the Post Newspapers for publishing what he has described as a false story which has the potential to discredit his integrity.

The MMD president said he wants those with information about him getting money from MMD members of parliament to come out in the open and prove their allegations in court.

[QFM]

YALI adds voice to ministerial reshuffles

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File:President Sata addresses a Cabinet meeting
File:President Sata addresses a Cabinet meeting

The Young African Leaders Initiative (YALI) has added its voice in expressing disappointment over the continued reshuffles that have characterized the Patriotic Front (PF) government’s Cabinet.

YALI is of the thought that such reshuffles which are being done consistently are bringing about policy incoherence in terms of the way government plans on how it does its activities and the implementation of its programs.

YALI President Andrew Nthewewe said that if the nation is going to have a change of Ministers every time the country will experience disorder in all the Ministries.

President Sata transferred Minister of Lands, Natural Resources and Environmental Protection Hon. Harry Kalaba to the Ministry of Foreign Affairs in the same capacity. Hon. Kalaba replaces Hon. Wylbur Simusa, who has been transferred to the Ministry of Agriculture and Livestock in the same capacity.

The President also transferred Hon. Emmanuel Chenda from the Ministry of Commerce, Trade and Industry to the Ministry of Local Government and Housing. Hon. Chenda replaces Hon. Emerine Kabanshi, who has been transferred to the Ministry of Community Development, Mother and Child Health in the same capacity.

President Sata also moved Hon. Mwansa Kapeya from the Ministry of Information and Broadcasting Services to the Ministry of Lands, Natural Resources and Environmental Protection. Hon. Kapeya has been replaced with Hon. Dr. Joseph Katema, who before the reshuffle was Minister of Community Development, Mother and Child Health.
Hon. Robert Sichinga has been transferred from the Ministry of Agriculture and Livestock to the Ministry of Commerce, Trade and Industry in the same capacity.

Meanwhile Mr. Nthewewe has implored the Minister of Information and Broadcasting Services Joseph Katema to firstly attend to the Access to Information Bill at his call of duty at his new Ministry.

He noted that this is because that the Access to Information Bill is a vital piece of legislation that that will allow the free flow of information in the country.

DIY Guide – Nissan X-Trail Hand Brake Adjustment

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nissan-x-trail2

As with all things, the more you use your vehicle, the more things start to wear out or go out of adjustment.The key to maintaining proper operation of your Nissan X-trail, even in the face of these, is regular maintenance. A knowledgeable and experienced automobile technician can often determine the condition of your vehicle, and the appropriate measures to take, in less than half an hour.

One common issue that is overlooked, especially on vehicles equipped with an automatic transmission, is the parking brake. After all, putting your vehicle in “Park” (1st or Reverse on manual transmission) is typically enough to keep the car from moving, so many people forget to engage the parking brake. Make sure you are in the practice of using the parking brake every time you park your Nissan X-Trail, and be sure to release it every time you move again. This will help to keep the cables from freezing up.

Of course, using your Nissan X-Trail’s parking brake will stretch the cables, especially when new, and will wear the parking brake shoes. This stretch and wear is minimal, and you may never have to actually replace parking brake shoes, at least for the first 150,000 km, some for at least 300,000 km. During that time, the cable and brake shoes will most likely require adjustment to keep them functioning properly. When the vehicle was new, the parking brake, also referred to as “hand-brake,” “foot-brake,” or “emergency-brake,” just two or three clicks may have been sufficient to keep it from moving.

Over time and use, however, cable-stretch and shoe-wear may render the parking brake useless, even if you pull it to the limit. You could include a brake cleaning and adjustment in your regular maintenance when you bring it to the shop. On the other hand, if you have the proper tools and are mechanically-inclined, you can do it yourself.

How To Adjust Your Parking Brake

Now, some DIY guys and even inexperienced mechanics make the mistake of adjusting the end of the cable at the parking-brake handle. It’s a quick and dirty fix, but it really only creates further problems. Do not adjust the cable. When the parking brake is not engaged, there should be absolutely no tension on the cable. Adjusting the cable may bring back brake function, but it will stretch the cable again. Here, we’re going to give you the proper method to adjust the parking brake on your Nissan X-Trail.

1. First, you’ll need a level place to work on, since we’ll have to leave the vehicle in neutral to work on the parking brake. Chock both front wheels to keep the vehicle from moving, make sure the parking brake is disengaged, and leave the transmission in Neutral.
2. Jack up the rear of the vehicle until the rear wheels are off the ground a few centimeters. Place jack stands under the frame of the vehicle to support it, and lower the jack until the vehicle is resting on the stands.
3. Never go under a vehicle supported solely by the jack.
4. At this point, you should be able to spin the rear wheels freely. Behind each rear wheel is a brake assembly. There are actually two sets of brakes. The hydraulic brakes act on the brake calipers on the outer rim of the brake disc, which is shaped like a hat. The brim of the hat is the disc brake, which we’re not going to touch. The inside of the hat is where the parking brake works, and it’s a breeze to adjust.
5. Taking a look at the diagram, you can see the adjuster, No.5, which is located at the same side as the brake caliper. You should be able to see it with a flashlight. If there is a lot of brake dust, as is common, use a liberal amount of brake cleaner spray to clean it up, spinning the wheel to get the brake cleaner into the whole drum.
adjuster
6. Use safety glasses, a dust mask, and nitrile rubber gloves, to protect yourself from the brake dust and cleaner.
7. You’ll note the parking brake adjuster has a toothed wheel, which you can use a small screwdriver or brake-adjusting tool to turn. You’ll have to figure out which way to turn the adjuster until you can no longer turn the wheel. Then, back off the adjuster until you can turn the wheel a little bit. Go inside the vehicle, pull the parking brake, and then release it.
8. Check to see if you can spin the wheel without any resistance from the brake. You should be able to hear if the brake is rubbing. If so, back off the adjuster another notch (the adjuster teeth rub on a spring), engage and disengage the parking brake again, and make sure the brake isn’t rubbing.
9. It may take a few tries to get the adjustment right, so that the wheels spin without dragging on the brake. If the brakes drag, they will heat up the drum and wear out the shoes, both of which cause problems with overheating and dust. If the parking brake is too loose, then it won’t work when you need it to. Generally speaking, the hand brake should be pretty solid if you pull it two or three clicks, but no more than four or five.
10. Once you drop the vehicle back on the ground, take it for a test drive. Walk around the vehicle to check for burning, which would indicate brake dragging. At low speed, engage the parking brake to stop the vehicle, maybe once or twice, but no more. Find a hill to park on and fully engage the brake to park the vehicle. Three or four clicks on the parking brake should be sufficient to hold the vehicle, even if it’s not in “Park” or in gear.
Given that this is such a simple adjustment that often goes overlooked, it’s probably a good idea to do this right now, before you have a need for the emergency function of the brake. If the handle doesn’t move very well, chances are that the cables have seized. Don’t force it, as you might immobilize your vehicle by locking up the parking brake.
Following these DIY steps, with the proper tools, and keeping safety in mind, you can probably do this the second time in about 15 minutes. You’ll also save yourself a trip to the garage and the bill that goes with it!

New video by Macky 2

macky2

Macky 2 released the video for his hit single “Google”

BY KAPA187

New Constitution is not magic formula for Zambia-Scott

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Dr Guy Scott vice President Zambia
Dr Guy Scott vice President Zambia

Vice President Guy Scott has charged that enacting a new constitution will not automatically solve all of Zambia’s problems.
Dr Scott said the opposition and the NGOs have misled many Zambians into believing that having a new constitution will dramatically change the way the country is governed.
He was speaking Sunday evening when he featured on a live ZNBC Sunday Interview programme.

“Can we guarantee everybody secondary education? You can write it in the constitution but you can’t guarantee it because you have limited level of resources and limited ability to manage your country which is the size of Texas,” Dr Scott charged.

He added, “So some people have been naughty and irresponsible telling people that the constitution will change everything. I met a taxi driver in Livingstone and he was busy telling me that he is very hungry and he waiting for the new constitution to get him the food and this guy was serious.”

“Let me give you another example, the late David Phiri, the forming sports and mining executive was on that Chona Constitution review commission and they flew over to the Barotse wetland in a helicopter to meet villagers and ask them what they wanted to see in the constitution and some villager rose and told them that he wants crocodiles banned in the new constitution. That shows you that people don’t understand this constitution issue and they want to make crocodiles unconstitutional.”

Dr Scott however said the PF government is committed to finalizing the enactment of a new constitution.
“It would be very nice to get finality on this issue of the constitution because we have been on this road before. I personally would like to have it changed because the present constitution does not allow me to stand as President, it’s a deficiency but I’m not prepared to enter into a battle of insults over that issue, I would rather retire.”

Dr Scott explained that a new constitution is important for Zambia but cautioned that it is not a magic formula that can take the place of good governance.
“Good governance is much more important than the constitution. The constitution can’t even guarantee you good governance. Good governance is the people you choose to lead you, they have to be sincere, they have to be genuine and take seriously their obligation to build schools and clinics,” Dr Scott stated.
Dr Scott said he also does not know when the Technical Committee will hand over the final draft and report to the report.
“We want the report delivered to State House because it is our report, we appointed the Technical Committee incidentally, the technical committee didn’t have PF cadres in it, it had people in it who were not even friendly to the PF, Ernest Mwansa was a PF rebel in the previous election but we appointed him because we do not want a rubberstamp job. The technical committee is not God which can produce a constitution which we can’t even read or comment on. Who gave the technical committee such supernatural powers?”
The Vice President said he is hopeful that the Technical Committee will hand over the report and draft constitution to President Sata in a matter of weeks.
He also said the 2016 general elections might be held under a new constitution.

Bank of Zambia moves to explain the depreciation of the Kwacha

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Bank of Zambia
Bank of Zambia

WITH fears grappling the market on the downfall of the Kwacha against major currencies, the Bank of Zambia (BoZ) has moved in to explain the reasons behind the depreciation of the local currency.

The central bank says increased demand for imports of capital goods has contributed to the loss of value of the Kwacha against major currencies.

This is as a result of consistent economic growth the country has recorded over the years which has led to a steady increase of imports particularly capital goods critical for sustaining such growth.

“Although exports have continued to show impressive growth, demand for imports has relatively been stronger, thereby contributing to the exchange rate depreciation,” said the central bank in a statement.

The Kwacha is currently trading at about K6 against the United States Dollar while the Pound and the Euro are trading at K9.9 and K7, respectively.

Apart from the demand for import, the central bank noted that Zambia’s increased integration with the world economy has had an impact on the performance of the local currency.

“It is important to note that US Federal Reserve Broad’s decision to reduce the amount of US dollar liquidity supplied through its quantitative easing programme has broadly affected several emerging markets including Zambia,” the statement added.

The Federal Reserve’s course of action has led to fears of slower growth of major economies particularly China.

This has resulted into the price of copper, Zambia’s major export earner, subdued thereby undermining investor optimism.

The Bank stated that the impact had also resulted into a slowdown in portfolio investment inflows, which have hitherto played an important role in financing the country’s current account deficits.

The central bank has responded to panic in the market by tightening monetary policy to stay on course with the attainment of the inflation target of 6.5 per cent.

“The Bank wishes to dispel the notion espoused on some media platform such as Reuter’s network that it does not intent to intervene in the markets.

“On the contrary, the Bank of Zambia, as always, stands ready to take actions that are appropriate at maintaining foreign exchange stability without compromising the external competitiveness of Zambian economy,” it stated.

Last week President Micheal Sata said the recent depreciation of the Kwacha is due to a combination of domestic and international market developments.

Mr Sata assured that the Government was closely monitoring the developments in the foreign exchange market.

The President said his administration had tightened monetary policy consistent with the attainment of the inflation target of 6.5 per cent for 2014.