Advertisement Banner
Monday, August 18, 2025
Advertisement Banner
Home Blog Page 4647

New Cabinet Ministers make promises

62
PF Kabwata member of Parliament Given Lubinda
Given Lubinda

New appointed cabinet minsters have made a number of promises regarding the execution of their duties in the new positions they have been put.

Newly Appointed Information, Broadcasting and Tourism Minister Given Lubinda has said that government will ensure that the Freedom of Information Bill is enacted.

Mr. Lubinda has also pledged to ensure that the Public media does not become a PF mouth piece but a public media.

He says that it will be disappointing for the public media to start hero worshiping the PF leadership rather than get views from the public.

Mr. Lubinda was speaking to journalists shortly after being appointed as Information, Broadcasting and Tourism Minister by President Sata at State House Thursday morning.

Mr. Lubinda will be deputized by Forrie Tembo who is MMD Nyimba Member of Parliament.

And newly appointed Mines Minister Wylbur Simuusa has pledged to engage all stakeholders in the mining sector.

Mr. Simuusa says government wants to create a win-win situation for all stakeholders especially on issues of taxation.

He says that the government will also ensure that the Gemstone sector contributes to the economic growth of the country.

And Newly appointed Home Affairs Minister Kennedy Sakeni has said that the PF government will ensure that the rule of law prevails without interference from politicians.

Mr. Sakeni said that the PF government has a huge challenge of arresting the increase in financial crime involving people in higher offices.

Mr Sakeni told ZNBC News in an interview shortly after President Michael Sata appointed him as his new Home Affairs Minister.

Mr Sakeni said that his main task is to ensure that security wings do their job professionally.

Mr. Sakeni who is Mansa Central PF Member of Parliament says he will ensure that law is applied swiftly and fairly.

Mr. Sakeni once served as Home Affairs Deputy Minister in the MMD government under President Levy Mwanawasa’s administration.

And Republican Vice President Guy Scott says he will put in his best towards the development of the country.

Dr. Scott says it is an honour to be appointed Republican Vice President and that he will work extra hard.

He was speaking with ZNBC News shortly after President Michael Sata announced his new cabinet at State House in Lusaka on Thursday.

Minister of Defence Geoffrey Mwamba and Minister of Transport, Works, Supply and Communications Willie Nsanda have promised that they will not betrayed Zambians have bestowed on them.

The duo was speaking in separate interviews in Lusaka at State House after their appointment by republican President Michael Sata.

[ZNBC]

Malawi lifts entry ban on Zambia’s President Michael Sata

50

Reuters reports that Malawi has announced today that it has lifted an entry ban on Zambia’s new president, Michael Sata, trying to head off a diplomatic spat before hosting a major regional conference next month.

President Bingu wa Mutharika’s government arrested Sata in 2007 when the then opposition politician entered Malawi to visit a former president. Sata was bundled into a car, driven several hundred kilometres, dumped at the border and told he could never come back.

Presidential spokesman Hetherwick Ntaba said Sata could no longer be treated as a “prohibited immigrant” now that he was a head of state.

“Under such circumstances, the fear of immigration embarrassment in Malawi for President Sata cannot arise in international diplomacy,” Ntaba said in a statement.

Prior to the announcement, Zambian media had said that Sata would not go to the Common Market for Eastern and Southern Africa summit in Malawi because of the way he was treated by Mutharika’s government.

Mutharika has also strained ties with major aid donor Britain by expelling its ambassador over a leaked diplomatic cable in which the envoy called the Malawian leader autocratic.

He has faced international criticism and further losses of aid for his impoverished state after his forces killed 20 people in an anti-government rally in July.

Opposition leader Sata won election early this month in a peaceful transfer of power in Zambia, a rarity in Africa, where elections are often rigged or results ignored, with many leaders trying to subvert the democratic process through force.

Sata sued the Malawian authorities and the case is still in court. Malawi has never disclosed the reasons why it deported Sata

[Reuters]

Tax from mining companies not enough-Wilbur Simusa

29

Reuters reports that the tax the Zambian government is getting from mines in Africa’s top copper producer is not enough and may need to be reconsidered, new mines minister Wilbur Simusa said shortly after being appointed to the post on Thursday.

Simusa’s comments could unnerve investors who were not expecting a major shake-up after newly-elected President Michael Sata assured in his campaign he would not bring back mining windfall tax.

“The money we are getting from the mines in form of tax is not adequate and we are going to sit down with them and discuss so that we reach a win-win situation,” Simusa, a mine engineer said.

Copper mining is Zambia’s economic mainstay and any plans to increase the tax could hurt the industry target of doubling annual copper output to 1.5 million tonnes by 2016.

According to the World Bank, copper accounts for 70 to 75 percent of Zambia’s export earnings, but the mining industry as a whole contributes only about 10 percent of its tax revenue.

Former President Rupiah Banda told Reuters in March audits had revealed that up to $200 million was owed in back taxes.

Banda’s administration had already begun a drive to boost tax revenue from mining companies and this could improve social stability if the nation’s mineral wealth is more evenly spread.

But while any moves to get more cash from miners may signal continuity with Banda, it does not mean the industry will like it. A well-known anti-corruption campaigner, Sata has also questioned copper export data and some experts say his concerns are legitimate.

Miners operating in Zambia include Canada’s First Quantum Minerals , London-listed Vedanta Resources , Glencore International AG and Metorex of South Africa

[Reuters]

President Sata names Guy Scott as Vice president and reduces cabinet size by only 3 ministries

431
PF Vice President Guy Scott
PF Vice President Guy Scott

President Michael Sata has appointed Patriotic Front party Vice president Guy Scott as republican vice president. In an announcement this morning, president Micheal Sata merged some ministries to reduce the numbers of ministries from previous 22 to 19.

Some of the other appointments include Alexander Chikwanda for Finance, Godfrey Mwamba for Defence, Given Lubinda for the new merged ministy of Information, Broadcasting and Tourism.

The cabinet has also seen new entrants into the front bench like Chishimba Kambwili for Foreign Affairs, Panji Kaunda as Deputy Minister of Defence and Wilbur Simusa as new Mines Minister.

Sebastian Zulu is the new Minister of Justice and the Minister of Home Affairs is Kennedy Sakeni.

Others who have been appointed are Dr. Joseph Kasonde as Minister of Health and Emmanuel Chenda is Minister of Agriculture and Livestock.

Former ZCTU president Fackson Shamenda is the new Minister of Labour, which has been merged with Sports, Youth and Gender.

Bob Sichinga is Minister of Commerce and the new Minister of Education, Science and Vocational Training is now Dr. J. Phiri, Professor Nkandu Luo is the Minister of Local Government, Housing, Early Education and Environmental Protection, while Esther Banda will deputise Professor Luo.

Inonge Wina is the Minister of Chiefs and Traditional Affairs, Willie Nsanda is Minister of Transport, Works, Supply and Communications and Dr Joseph Katema as Minister of Community Development, Mother and Child Health.

The President has also appointed Katombola Lukulo as Southern Provincial Minister, Nathaniel Mubukwanu for Western Province, Josephine Limata for North Western, Freedom Sikazwe for Northern Province and Miles Sampa for Lusaka.

Other provincial ministers are Solomon Mbuzi for Eastern, Davies Mwila for Luapula, Yamfwa Mukanga Copperbelt and Philip Kosamu for Central.

Power Official Confronts Refs Over Loss

2

Power Dynamos Secretary Justin Kapoma stormed the referees change room to complain over what he termed as poor officiating after his side’s 1-0 defeat by Forest Rangers in Wednesday’s Faz Super Division Week 24 encounter played at Arthur Davies Stadium in Kitwe.

Determined Forest defended a Larry Siyakasipa 35th minute spectacular long-range goal to condemn Power to unlikely loss at Arthur Davies.

Kapoma confronted Lusaka-Referee Francis Lombe in the changing room and shouldered his team’s loss on match officials.

The Power official was heard shouting at Lombe:” You denied us a clear penalty and showed Forest keeper two yellow cards without producing a red card. If it were at Nkana you can’t survive like that”.

Power’s misery on the day ended with Striker Luka Lungu receiving marching orders from Lombe after he head-batted Forest centre-half Jonas Phiri three minutes from full time.

But Forest Coach Hector Chilombo defended the match official and described his officiating on the day as fair.

“Losing sides always complain, the referee was fair but we were playing away so thumbs up to the referee,” said Chilombo.

He added that:” This is a sweet victory and we prepared well for this
game although we were notified late.

Credit should go to my players we were on top of the game from the word go.”

Intelligence Blunders?

39
Vice president George Kunda greets MMD cadres before addressing a rally at kaseba in Muchinga constituency where he is constesting the parliamentary seat
File:Former Vice president George Kunda greets MMD cadres before addressing a rally at Kaseba in Muchinga constituency where he was constesting the parliamentary seat

By Gray Soko
In his farewell speech RB posed a few questions about the MMD’s defeat which the MMD postmortem meeting will undoubtedly ponder over. RB posed the following questions:

-had the MMD become complacent ?

-had the MMD failed to hear ( despite its claim to be a listening party)?

– had the MMD become grey and lacking in ideas?

– had the MMD lost momentum ( after 20years in power ) ?

Anyone can be clever after the event and I do not claim to have the best answers to RB’s questions but I feel that the MMD, like UNIP in 1991, suffered from serious intelligence blunders. I suggest these blunders were around the following factors:

Lack of knowledge of the opposition

The great military strategist Sun Tzu said that if you know neither yourself nor the enemy, you are a fool and will meet defeat in battle. The MMD campaign was almost exclusively targeted at Sata as an individual and largely ignored the fact that the PF was an organization with structures and personnel in other parts of the country who were vigorously recruiting or strengthening its membership. Surrogate personalities such as Chimba Chimba 111, Mumbi, Lifwekelo, Chifire and Siulapwa were therefore wrongly seen as assets in the arsenal against Sata and ultimately the PF.

Overconfidence

Having been in power for 20years there was overconfidence of the party’s invincibility. Vice-President then George Kunda even declared that the MMD would rule Zambia for a very long time, if not forever! This overconfidence was also reflected during the election campaign when the MMD leadership declared in Luapula that it would win all the fourteen seats. As it turned out, it lost in all but one of the constituencies. Was this overconfidence based on fact or falsification of intelligence for political or personal purposes?

Ignorance/Failure to comprehend the facts

The economic parameters that were being presented to show that there was “development” and therefore the party was popular with the people failed to acknowledge the fact that there were still very high unemployment and poverty levels in the country. The majority of the people were still living below the poverty line. There is also the dangerous indication of the rich getting richer and the poor getting poorer. The country’s elevation to a lower middle income country status does not mean the benefits of the economic growth are trickling down to the majority.

Statistics on unemployment, poverty levels, mortality or the food basket requirements from the government’s own Central Statistical office or credible NGOs like the Jesuit Centre for Theological Reflection (JCTR ) were often downplayed.

Gullibility

Great prominence was given to favourable comments from diplomats and international institutions about Zambia’s economic growth and the public media in particular made repeated headlines of favourable election victory predictions from institutions such as the Economic Intelligence Unit, Stanbic Bank and even on the eve of the election quoted the Washington Post as predicting MMD victory. There was little if any coverage of predictions which stated otherwise.

It is however possible that the correct intelligence was available but was either ignored or worse, spinned to support what the party wanted to hear. UNIP and now the MMD failed to see the writing on the wall. I hope the PF will not fall into similar intelligence blunders.

No amount of Juju would have saved MMD defeat – Chimumbwa

21

Former Patriotic Front (PF) Secretary General Charles Chimumbwa says there is no amount of Juju that could have served the MMD from a humiliating defeat on 20th September 2011.

Mr. Chimumbwa observed that what happened to the former ruling party is a lesson to all political parties that, no one can gamble with the people.

He said the ruling party should not fall in the same trap that saw the MMD government make a quick exit out of power.

ZANIS reports the former party official saying this in a congratulatory press statement to the President elect Mr. Michael Sata in Lusaka today.

Mr. Chimumbwa said the election of President Sata as republican President could not have come at a better time than now when the whole country is looking for an action oriented person to be at the helm of government.

He pointed out that the people of Zambia will benefit from the services of Mr. Sata as republican president.

He stated that Mr. Sata’s desire to get things done makes him stand out from the rest of the candidates that took part in the Just ended elections and he is the type of person who does not postpone a task which can be done today to tomorrow.

Meanwhile, MMD national secretary Richard Kachingwe says the opposition party will re-organise, re-energise and rebrand in readiness for the 2016 elections and for any by-elections that may take place in the intervening period.

Major Kachingwe said this in a statement following a parliamentary liaison committee (PLC) meeting of MMD members of Parliament and National Executive Commitee members yesterday.

He said the MMD will hold a post-mortem in all the 150 constituencies to establish why it performed poorly in the September 20 elections.

“We are certain that the people of Zambia know and have seen our progressive development agenda and this gives us supreme confidence as a party that we will bounce back to Government,” Maj Kachingwe said.

He said the party has accepted the results of the elections and will continue to play a constructive role in Parliament and in the political arena as a mature opposition party.
Maj Kachingwe said the party will work closely with other progressive opposition parties which are prepared to work for the good of the nation.

He said the meeting paid glowing tribute to former republican President Banda for his dedicated and loyal service to the MMD and to the nation during the last three years.
Maj Kachingwe said Mr Banda helped to rebuild and reshape the country at a time the world was going through an economic crisis.

He said Mr Banda has left the country in good economic shape, having recently been reclassified as a lower middle income country with gross domestic growth of 7.2 percent last year and a single digit inflation among other achievements.

Maj Kachingwe said the party is disturbed by reports of violence allegedly targeted at MMD officials, members and sympathisers.

“We urgently call on President Sata, his government and the Church to condemn and stop this hooliganism and lawlessness,” Maj Kachingwe said.

He said the elections are over and the ruling party has a constitutional duty to protect all citizens and residents of Zambia, regardless of their political affiliation.

ZANIS

Zambians want the sale of Zamtel and Finance bank to reversed-Bishop Mambo

27
Bishop John Mambo
Bishop John Mambo

Bishop John Mambo says Zambians expect the Patriotic Front Government to correct the wrongs of the previous MMD regime.

Bishop Mambo has cited the sale of Zamtel and Finance Bank as some of the ills that the previous government made.

Bishop Mambo says Zambians want the sale of Zamtel and Finance bank to reversed.

He adds that it is high time sanity was restored in the sale of institutions that are a backbone of the country%u2019s economy.

Bishop Mambo explains to QFM Radio that the current government should also ensure that the corruption levels are brought down.

He says since the majority Zambians spoke through the ballot box, republican President Michael Sata should ensure that he addresses the challenges facing most Zambians.

Bishop Mambo has since wished Mr. Sata the best health and God’s guidance in his presidency.

QFM

Bank of Zambia Governor Caleb Fundanga fired

173

Bank of Zambia governor Caleb Fundanga has been fired from his position with immediate effect.

Sources have told QFM that the bank governor, who was at the helm of the sale of the questioned procedure of finance bank, was fired earlier this week.

Dr. Fundanga was bidding fairwell to his management and staff at the boz headquaters in lusaka yesterday.

Dr Caleb Mailoni Fundanga has served as Governor of the Bank of Zambia since March of 2002.

He was appointed Governor, after serving as Senior Advisor to the President of the African Development Bank in Abidjan, Cote D’voire from 1998.

Dr. Fundanga further served as an Executive Director at the African Development Bank.

Dr. Fundanga also served as Permanent Secretary in the Ministry of Finance for six years at Cabinet Office before finally winding up in the Office of the President as Permanent Secretary in charge of the National Commission for Development Planning.

Dr. Fundanga’s firing is seen as some of the major changes the new patriotic front government is undertaking.

QFM

FAZ Super Division Week 24 Match Reports

10

Here are the Faz Super Division Match reports after Week 24 games played on Wednesday, September 28.

Red Arrows 3-Nakambala Leopards 0

Arrows went level at the top of the Faz Super Division table with three unanswered goals at home with a win over Nakambala Leopards at Nkoloma Stadium in Lusaka.

Dube Phiri, Songwe Chalwe and Mwape Mwelwa were on target in the 34th, 64 and 71st minutes respectively.

Arrows and Power are now level on 44 points but the latter stay top thanks to a better goal difference.

Power Dynamos 0- Forest Rangers 1

Forest Rangers embarrassed leaders 10-man Power at Arthur Davies Stadium with a 1-0 away win in Kitwe.

Larry Siakapisa longrange shot in the 35th minute settled matters in this game.

Power later had striker Luka Lungu sent off for an off the ball incident three minutes from full time.

Nkana 0-Green Eagles 0

Nkana failed to avenge the 2-0 defeat they suffered away to Green Eagles on May 21 after managing a scoreless home draw in Kitwe at Nkana Stadium against their guests from Choma.

Nkana are a comfortable 7th despite the draw.

Kalewa 3-Nkwazi 1

Bottom placed newcomers Kalewa completed a rare feat to record back-to-back league wins over Nkwazi.

Kalewa beat Nkwazi 4-1 in their first ever Super Division visit to Lusaka in Week 9 last May.

On Wednesday at Musa Kasonka Stadium in Ndola, they were one goal shy of repeating that act after Edward Musebo scored a hat trick with goals in the 26th, 66th and 82nd minutes.

Lawrence Lubinda scored Nkwazi’s consolation from the penalty spot in the 85th minute.

Green Buffaloes 1-Nchanga Rangers 0

Buffaloes this afternoon ended Nchanga’s 10-match unbeaten run.

A 7th minute header from Chipili Mungule handed Nchanga their first league defeat since June 29 when Forest Rangers beat them 2-0 in Ndola.

Konkola Blades 0-Zanaco 0

Zanaco stayed a close third on the table despite a goalless draw at Konkola Stadium in Chililabombwe.

Lime Hotspurs 0-Zesco United 1

Defending league champions Zesco have ghosted their way back into contention after a 1-0 away win over second from bottom Lime Hotspurs.

Winston Kalengo’s 17th minute goal saw Zesco move from sixth to fourth place and five points behind leaders Power and Arrows.

Roan United 1-Kabwe Warriors 2

Kabwe Warriors recorded an important victory away from home when they beat Roan United 2-1 at Kafubu Stadium in Luanshya.

Roderick Kabwe scored a brace in the 30th and 43rd minutes to help Warriors rise from 14th to 12th on the table.

Roan on the other hand scored their lone goal of the game through Tom Bakala’s 70th minute free kick.

TABLE

[standings league_id=18 template=extend logo=false]

Sata to hold his first press conference as president tomorrow

105
President Michael Sata delivers his inaugural speech at the Supreme Court
President Michael Sata

President Michael Sata will tomorrow, Thursday, 29th September, 2011, address a press conference at State House at 11:00 hours.

Members of the press are requested be seated by 10:30 hours. This is contained in a press statement release by Principle Private Secretary to the President Mr Francis Chalabesa.

Both local and foreign journalists are invited to cover the press conference and should submit their names through the Press Office at Zambia News and Information Services at the Mass Media Complex.

Former ministers told to vacate houses by Thursday

123

Patriotic Front Secretary General Wynter Kabimba
Patriotic Front Secretary General Wynter Kabimba
Former Ministers still occupying Government houses have been given up to Thursday the 29th September to vacate.

Works and Supply Permanent Secretary Watson Ng’ambi says the Ministry has written to the former ministers who have not moved out of the houses to do so.

Mr. Ng’ambi has told ZNBC News in an interview that a team of engineers are preparing to renovate the houses once all the former ministers have moved out.

And Patriotic Front Secretary General Wynter Kabimba has told ZNBC News in a separate interview that the former ministers should have handed over government assets and moved out of the houses when cabinet was dissolved.

Mr. Kabimba says this is because the former ministers occupied the ministerial houses by virtue of being ministers and that they should have moved out after the dissolution of cabinet and the National Assembly.

[ZNBC]

Sakwiba Sikota questions why William Banda is being detained without trial

141
United Liberal Party leader Sakwiba Sikota (L)
United Liberal Party leader Sakwiba Sikota (L)

Lusaka Lawyer Sakwiba Sikota has questioned why MMD Lusaka Province Chairman William Banda has not yet been tried in the courts of law after spending days in police custody.

Mr. Sikota said that  the Patriotic Front government should live to its word that it will abide by the rule of law.

In an interview with QFM, Mr. Sikota said that  Mr. Banda deserves fair justice regardless of the crimes he could have committed.

He has since appealed to the Law Association of Zambia to come to the aid of the MMD Lusaka Province Chairman, suspected to be the master mind of political violence during the MMD’s reign which came to an end last week.

The MMD Lusaka province chairperson was yesterday transferred to Lusaka central police from Chipata were he was apprehended allegedly trying to flee the country for Malawi.

Lusaka division commanding officer Mhlakeni Zulu confirmed the development to QFM on Tuesday.

Mr. Banda was apprehended by Patriotic Front cadres in Chipata and later handed over to police.

[QFM]

Zambia police seize 37 Banda campaign vehicles

108
RB's MMD Campaign vehicle
RB's MMD Campaign vehicle

Zambia police have seized about 37 vehicles belonging to former president Rupiah Banda’s MMD party that were used for campaigns

“The number of seized trucks has increased to 37,” confirmed Mhlakeni Zulu, Lusaka Province police commanding officer, late Tuesday.

He said the police wanted to keep track of the vehicles suspected to have been irregularly brought into the country.

The trucks were found abandoned at a garage in Lusaka, said Mr Zulu, who urged the public to report to the police wherever they found the MMD vehicles, to help in investigations.

MMD’s hundreds of vehicles – trucks and vans – and other campaign materials raised suspicion that China bankrolled its re-election bid.

Orchestrating violence

The PF had sued the MMD and the Zambia Revenue Authority (ZRA) on suspicion that the then ruling party had not paid tax when bringing hundreds of campaign vehicles into the country, but the court trashed the case.

Mr Banda, 74, and the Movement for Multiparty Democracy (MMD) – the party in power for two decades – lost to opposition leader Michael Sata and his Patriotic Front (PF) last week.

The police also confirmed that William Banda, a close ally of the former president, who was on the run, had been captured and brought to Lusaka to face charges of inciting violence before the September 20 elections.

He was nabbed in the border town of Chipata – Eastern Province – where he was allegedly enroute to neighbouring Malawi.

Mr Banda, a controversial politician accused of orchestrating violence during the Kenneth Kaunda regime and immediate past MMD reign, was once deported to Malawi by the Frederick Chiluba-administration until the Levy Mwanawasa-government allowed him back into Zambia.

[Africa Review]

Your Investments Safe, Mumba Assures Canadian Investors

81
Peter Munk owner of Lumwana Mine and Chairman of Barrick Gold with Zambia's High Commissioner to Canada Dr. Nevers Mumba at the Marriot Hotel in Toronto

Zambia’s High Commissioner to Canada Dr. Nevers Mumba, says Zambia’s ability to resolve and respect the norms of democracy has shown the World that the country has the ability to provide policies that respect the rule of law.

this was contained in a press statement released by Ben Kangwa Press Secretary,Zambia High Commission, Canada.

Officially opening the Zambia – Canada Business Forum which attracted about 60 Canadian investors, in Toronto , Dr. Mumba assured the Canadian Business community that their Investments were still safe in Zambia .

He observed that Zambians had shown the world that the country had the ability to transfer power smoothly, a sign that demonstrated maturity in democratic governance.

“ For the fifth time, Zambia has shown the world that an African country has the ability to transition in dignity and respect for both the victor and the vanquished,” he stressed.

He said it was this unique character of Zambia that makes it the finest destination for any investor and that the political stability provided a comfort and peace of mind for any investor.

He said Zambia was now determined to further develop the country into a truly prosperous nation of the 21st century as a result of peace that exists among Zambians.

Dr. Mumba emphasized, “ There is a new lease of energy and hope amongst the Zambian people and we are determined to ride on this enthusiasm.”

He said he was aware of the fact that several Canadian investors had expressed great anxiety as to how the new administration of President Michael C. Sata would relate to the Canadian Investment community.

He assured the investors that the new President was one of the most experienced politicians who served as a public servant for a long time.

He said President Michael Sata fought for office of President using democratic means and that although he had opportunities to cause unrest in the country, he more than many Zambians the significance of maintaining peace and adhering to democratic norms,” he added.

Dr. Mumba further quoted President Michael Sata last Friday when he specifically addressed foreign investment in the country.

He noted the President said that,”Foreign Investment is important to Zambia and we will continue to work with foreign investors who are in the country,” end of quote.

Dr. Mumba also said that the former Zambian President Mr. Rupiah Banda who graciously conceded defeat in the recently held elections last week had secured himself a place on the list of respected statesmen in African politics.

Former President Banda had said “The people of Zambia had spoken and we must all listen . Now is not time for violence and retribution but time to unite and build tomorrow’s Zambia together.”

“This, Dr Mumba said, “is the Zambia I wish for the investors and the world to see and know.

We are committed to the respect of the rule of law and it is these values that shall protect your investments.”

It was against this background that Dr. Mumba urged for more Canadian companies to invest in Zambia particularly in sectors such as agriculture, tourism, energy, manufacturing, infrastructure and ICT.

He told his audience that currently there were more than 200 Canadian companies that were doing business in Zambia and that out of this number only 41 were officially registered with the Zambia Development Agency (ZDA) and that these enjoyed fiscal and non fiscal benefits offered by the country.

Dr. Mumba stated that Zambia had been assigned a sovereign credit rating of B plus by Fitch Ratings and Standard and Poor an indication of the country’s creditworthiness.

He also added that the World Bank also reclassified the country as a Low Middle Income country, a development that has been seen as a booster to economic development.

“The reclassification will lead to more investments which will stimulate growth in major sectors of the country,” he added.

In his presentation, Founder and Chairman of the Board of Barrick Gold, Mr. Peter Munk congratulated President Sata on his election win as Zambia’s fifth President.

He said the victory had proved that Zambia was able to rise above political differences in order to safeguard peace.

Mr. Munk whose company Barrick Gold has invested $7.8 billion in Zambia, the largest investment in any African country.

He said Zambians deserved to be congratulated for providing policies that protect investors such as good governance, the rule of law, transparency and most of all peace.

He urged the new government to attract major companies that would create employment, develop the country and raise the living standards for their citizens.

Mr. Munk said his company will continue to invest in Zambia as long as good governance issues were preserved.

“We are looking forward to be your ambassadors in the global economy,” he said.

Earlier, Mr. Henry Sakala,the Acting Director – Investments, Promotion and Privatisation at the Zambia Development Agency (ZDA) made a presentation of Zambia As An Attractive Destination.

Zambia was presented as an attractive investment destination by the Canadian Council on Africa (CCA) and two private businessmen from Zambia. The presentation made by Mr. Francis Chola Mutati, Managing Director of Tec-Trade Limited and Mr. Joseph Mbazzi Director of Projects at Plinth Technical Works Limited were good practical testimonies to some of the competitive advantage that Zambia offers.

The Investment Forum moves to Ottawa on 30th September.

[ZANIS]