Bank of Zambia (BoZ) says that the announcement of the date for tripartite elections will not slow down economic activities or affect the performance of the Kwacha but will trigger more business activities.

BOZ said this in contrast to Standard Chartered Bank which predicted depreciation of the Kwacha against the US dollar following the announcement of the election date.

Bank of Zambia Governor Caleb Fundanga said in an interview that the economy and currency will remain stable during elections because a lot of economic activities are expected to take place.

Dr Fundanga said the supply of US dollars on the market is dependent on exports and not elections, saying trade will continue even during the election period.

“The supply of US dollars on the market is dependent on exports. The question one may ask is whether exports are affected by elections, the answer is no. We, however, expect the demand for election materials go up, but I don’t see a strong relation with the Kwacha,” he said.

Dr Fundanga said the slowdown in economic activity and subsequent depreciation of the Kwacha experienced in 2008 were due to the global credit crisis and the elections.

“The results of 2008 had nothing to do with the elections but the global financial crisis, portfolio investors withdraw from all emerging markets whether they had elections or not,” he said.

“International organisations are saying elections or no elections Zambia is on the path of positive growth,” he said.

But Standard Chartered Bank head of global markets Stanley Tamele said the Kwacha is likely to trade at around K4,900 and K4,950 during the election period because of the political risk aversion associated with the election period.

Mr Tamele said historically, when Zambia and other African countries go to the polls, there is a tendency of people and companies holding on to their transactions until after elections.

“Investors tend to withdraw money from the economy and people hold on to transactions and US dollars because of the risks associated with politics,” he said.

Mr Tamele, however, said the Kwacha would pick up at around K4,700 after the elections.

TODAY’S SCRIPTURE

“And Jesus answered them, Truly I say to you, if you have faith (a firm relying trust) and do not doubt, you will not only do what has been done to the fig tree, but even if you say to this mountain, Be taken up and cast into the sea, it will be done”
(Matthew 21:21, AMP)

TODAY’S WORD from Joel and Victoria

We’ve all had seasons when the challenges of life feel overwhelming. During those times, it’s easy to be tempted to talk about how bad things are. Maybe you received a bad medical report, or maybe you’re facing a financial obstacle. But the more you talk about something, the bigger it becomes in your mind. Instead, you’ve got to dig your heels in and say, “No, I am not going to give life to that defeat. I am not going to speak sickness over myself. I’m not going to speak lack. I’m not going to speak fear. I’m choosing a different report. I believe the report of the Lord which says I am blessed. I am favored. I am prosperous. I am healthy. I am whole. I’m a victor, not a victim.”

Remember, even if you don’t see how things could ever work out, God does. You’ve got to speak to those mountains in your life and declare favor over those situations. Instead of talking to God about how big your problems are, talk to your problems about how big your God is! As you speak to your mountains, they will be moved, and you will move forward into the victory God has prepared for you!

A PRAYER FOR TODAY

Heavenly Father, thank You for Your Word which is life to my spirit. I receive Your strength today and choose to speak to the mountains so I can move forward in the victory You have in store for me. In Jesus’ Name. Amen.

— Joel & Victoria Osteen

The Electoral Commission of Zambia has set August 7 to August 10 as dates for filling in Presidential Nominations.

ECZ has also set August 12 as dates for filling of nominations for the National Assembly and local government elections.

Commission Director Priscilla Isaacs said that Presidential aspiring candidates should complete the attested statutory declaration of the oath, the affirmation of Zambian citizenship and the nomination papers before the chief Justice at the Supreme Court.

Ms Isaac said in a statement to ZNBC News that each aspiring Presidential candidate is required to pay a non refundable nomination fee of K10 million.

Each candidate shall also be expected to carry 200 supporters who are registered voters in any constituency.

She said that filing of Presidential nominations will be taking place from 09:00 hours to 16:00 hours.

Parliamentary nominations will be conducted at the respective constituency centers before a returning officer.

Ms Isaacs said that parliamentary candidates shall also be required to pay a non-refundable nomination fee of K500 000.

The aspiring candidates shall also be required to be accompanied by 9 supporters who are registered voters in the respective constituencies.

Local government aspiring candidates for city councils will pay a non-refundable nomination fee of K100 000

For Municipal Councils, candidates will pay K75 000 non-refundable.

District Council aspiring candidates will pay K50 000 nomination fee.

Nominations for both parliamentary and local government aspiring candidates will be conducted from 08:00 hours to 16:00 hours in all centers.

Ms Isaacs also said that accreditation for international election observers will start on August 2 to September 16.

Local Monitors and the Media will be accredited from August 8 to September 16, 2011.

And several Political Parties have welcomed the announcement of dates for filing nomination by the Electoral Commission of Zambia-ECZ.

National Movement for Progress Party (NMPP) President Ng’andu Magande has said that it is good that the ECZ has set the dates soon after the announcement of the election date.

Mr. Magande said that his party is ready for Parliamentary and Local Government nominations.

And UPND Spokesperson, Charles Kakoma said that his party is happy with the nomination dates.

Mr Kakoma however said that the programme set by the ECZ is too short for the commission to the reach the remote areas.

Alliance for Democracy and Development-ADD President Charles Milupi has also welcomed the announcement of nomination dates.

Mr Milupi said that his party will release the names of adopted candidates next week.

And MMD National Secretary Major Richard Kachingwe has expressed happiness that Electoral Commission of Zambia has finally announced the nomination dates.

Major Kachingwe said that with the announcement of the adopted candidates, the party is now ready to go ahead with nominations.

And Patriotic Front-PF Vice-President Guy Scott said that the announcement of the nomination dates is welcome.

Dr Scott said that the PF is ready for the nominations and elections in general.

ZNBC

The Zambia Episcopal Conference (ZEC) has called for the spirit of tolerance in the country ahead of this year’s tripartite elections.

Speaking to Qfm in an exclusive interview, ZEC Secretary General Father Cleophas Lungu says Zambians have the freedom to express their views without intimidation.

And Father Lungu has declared the church mother body’s readiness in carrying out sensitization programmes of voters across the country.

He says sensitizing voters on the importance of participating in the electoral process is important and that no one should be questioned for carrying out this noble cause.

An Anglican priest in Ndola is reported to have been summoned by the police for questioning for allowing an Electoral Commission of Zambia voter education facilitators to educate congregants on the importance of voting.
[ QFM ]

The Citizens Forum has described the just dissolved parliament as the most selfish the country has ever had.

Executive secretary Simon Kabanda has told QFM news that MPs in the dissolved parliament focused so much on personal benefits by increasing their allowances at the expense of the people they were supposed to represent.

Mr. Kabanda adds that parliament also failed to give the people of Zambia a progressive national constitution despite spending so much money on the constitution making process.

And Mr. Kabanda has urged the aspiring parliamentary candidates not be pre-occupied with selfish interests by trying to use parliament to amass wealth.

Meanwhile, Mr. Kabanda has observed the need for cabinet to become a separate entity from parliament after this year’s elections.

He notes that once this is done it will help in curbing the abuse of public resources by the ruling party among other things.

QFM

PRESIDENT Rupiah Banda has said his announcement that Vice-President George Kunda should continue running his office is backed by the Constitution.

He said a statement by Forum for Democracy and Development leader Edith Nawakwi that the vice-president should vacate office was irregular.

This is according to a statement released yesterday by the president’s special assistant for Press and public relations, Dickson Jere.

“It is sad that a leader of a political party and former senior Cabinet minister, Ms Edith Nawakwi can demand for the vice-president to vacate office when the Constitution of Zambia is very clear on this matter,” Mr Jere said.

He said the position by President Banda that Mr Kunda would continue in office even after the dissolution of Parliament was backed by the law and that Ms Nawakwi as a former minister should have known this fact.

“For the avoidance of any doubt, I wish to state that the president relied on Article 45 (3) of the Constitution of Zambia, Chapter 1 of the Laws of Zambia, when he said that the vice-president will continue in office.

The relevant provisions read: 45 (1) There shall be an office of the vice-president of the Republic of Zambia (2) The vice-president shall be appointed by the president from amongst the Members of the National Assembly.

(3) Subject to the provisions of this Constitution the vice-president shall vacate that office upon the assumption by any person of the office of President,”  Mr Jere said. He said the rationale provided in Article 45 (3) was meant to avoid a vacuum in case a vacancy occured in the office of the president during the time when Parliament was dissolved.

Mr Jere said in case a sitting president was incapacitated while Parliament and Cabinet was dissolved, the vice-president would take over in the interim period.

[Times of Zambia]

Politicians and ordinary people in Livingstone have welcomed the announcement of the elections date.

Interim Chairperson of Zambia Institute of Purchasing and Supply Southern Chapter, Benjamin Musenge says the announcement of the date will allow stakeholders plan their campaign activities.

And former Mukuni ward Councilor in Kazungula, Godwin Lubinda has said time has come for politicians to sale in their manifestos to the electorate.

Meanwhile, Copperbelt residents have expressed mixed feelings over the announced date of elections.

[ MUVI ]
While some residents say the announcement has settled anxieties, others say the delayed announcement will not give the electorate enough time to study their candidates.