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Flashback: Bank of Zambia Governor Caleb Fundanga and head of public relations Kanguya Mayondi during the central bank's quarterly media briefing
The Bank of Zambia has started the process of selling off Finance Bank Zambia Limited, in line with the Banking and Financial Services Act.
The Central Bank has asked interested parties to either make oral or written submissions during a public hearing that will be held at the Mulungushi Conference Centre in Lusaka, on March 9th 2011.
The Bank of Zambia says the legal rights of depositors and creditors will be honoured during the transaction.
This is according to a statement released to ZNBC News in Lusaka on Tuesday by Bank of Zambia Head of Public Relations Kanguya Mayondi.
Mr. Mayondi says the Central Bank would like to ensure that the branch network of Finance Bank is maintained and employment safeguarded.
He said the assets and liabilities of Finance Bank still remain solvent.
Mr Mayondi however, revealed that Finance Bank has a shortfall in the regulatory capital as prescribed by the Central Bank.
Government took over operations of Finance Bank in December last year.
The Egyptian Government has pledged to increase investment in ZAMBIA as part of honouring the YOUTHs that lost their lives during the recent protests in that country.
And a book of condolences to honour the YOUTHs that died during last month’s revolution has been opened at the Egyptian Embassy.
Egyptian Ambassador, SALAH EL-SADEK has assured ZAMBIANS that the government will ensure that transparency prevails to achieve good governance in EGYPT.
Ambassador El-SADEK was speaking in an interview in LUSAKA today.
He said that EGYPT has come out of the revolution more UNITED, and STRONG.
The protests led to the resignation of President HOSNI MUBARAK.
The Patriotic Front (PF) has announced the expulsion the 16 rebel members of parliament from the party.
The expulsion of the rebel MPs follows the High court’s decision to dismiss with costs the consolidated action against the PF.
PF secretary general Wynter Kabimba announced the expulsion of the rebel MPs in Lusaka today during a media briefing.
Mr. Kabimba named those expelled as Matero member of parliament Faustina Sinyangwe , Celestino Chibamba of Shiwan’gandu Constituency and Kawambwa’s Elizabeth Mulobeka Chitika.
Other are Besa Chimbaka of Bahati constituency, Ernest Mwansa of Chifunabuli , Joseph Kasongo Bangweulu, and Dr. Peter Cachungwa of Luapula constituency.
Percy Chanda of Kankoyo Constituency, Bernabas Chela Wusakile constituency Michael Nyirenda of Kafinsa constituency,Lombani Mschili Kabushi constituency, Joseph Zulu of Bwana mkubwa have also been expelled .
The party has also expelled the Benson Bwalya of Chifubu constituency posthumously, Anson Simama and Violet Sampa Bredt of Kalulushi and Chawama constituencies respectively.
And Mr. Kambimba has said the PF has launched a system of registration for its members and supporters.
Mr. Kabimba says the registration system will be done via mobile phones of Airtel subscribers adding that subscribers to this facility will be kept updated on the operation of the party ahead of this year’s elections.
President Banda talks to US assistant Secretary of State for African Affairs Johnnie Carson (r) and American Ambassador to Zambia Mark Storella at State House
President Rupiah Banda has called on the media in the country not to allow the Post Newspaper to set the agenda for them.
President Banda said this when he was asked by Journalists at ZAF City Airport to respond to today’s lead story in the POST Newspapers.
The story under the heading ‘ MMD in Napsa Fundraising Scam’ suggests that President Banda wants to use parastatals to mobilize campaign funds for the ruling party.
Mr. Banda said it is not surprising that his name is mentioned by the daily tabloid everyday.
The President said allowing the tabloid to set an agenda for the entire media fraternity will be encouraging the scandalizing of innocent people.
And President Banda told Journalists that campaigns in the Mporokoso by-elections are on the right track.
Foreign Affairs Minister Kabinga Pande receives credentials from new Africa Development Bank Country Representative Freddie Kwesiga at Ministry of Foreign Affairs in Lusaka recently
Foreign Affairs Minister Kabinga Pande has cautioned diplomats serving in Zambia against commenting on the country’s internal affairs.
Mr. Pande has said that Zambians were better placed to comment on internal issues affecting the country.
The Minister said that it was unfortunate that Netherlands Ambassador to Zambia Harry Molenaar on Monday commented on the Barotseland Agreement issue, which is purely an internal matter.
Mr. Pande told ZNBC News in an interview on today that issues such as the Barotseland Agreement of 1964 debate should be left to Zambians.
On Monday Mr. Molenaar said Zambia can resolve the impasse on the Barotseland Agreement through government’s decentralization policy.
Mr. Molenaar said this is because the decentralization policy encourages inclusive dialogue.
Meanwhile, The European Union(EU) says it has no doubt that Zambia will uphold and demonstrate its democratic nature during this year’s tripartite elections.
New EU Head of Delegation Gilles Harvio has said that the EU has supported Zambia in many sectors because of the good record it holds in good governance and upholding of democratic tenants.
He was speaking on today when he introduced himself to Foreign Affairs Minister Kabinga Pande in Lusaka.
And Mr. Pande said President Rupiah Banda is determined to ensure that Zambia remains a model of democracy and good governance in Africa.
He said the President has invited the international election observers which include the EU and the US government.
And Mr. Pande said cabinet recently ratified the African Charter on democracy, elections and governance to demonstrate its commitment to democratic principles.
Flashback: President Banda interacts with a mother and her baby at Chipata Clinic in Lusaka
President Rupiah Banda has said that there is no justification for some people to create unnecessary worries in the minds of Zambians regarding the recent hike in fuel prices.
The President has explained that countries that are on the importing side usually pay the price each time prices from oil producing countries go up.
President Banda said this is because countries like Zambia do not have oil fields of their own. He has since challenged people unnecessarily criticizing the hike in fuel pump prices to be realistic.
President Banda was responding to Journalists at City Airport before departure for the Northern Province
Meanwhile, the Public and Private Drivers Association of Zambia has officially announced a K300 bus fare increment on local routes across the country.
Association Spokesperson Steven Zulu confirmed the development to TV2 news in an interview on Monday.
Mr. ZULU said the K300 increment was agreed on following consultations with the Ministry of Transport and communications and the Commuters’ Rights Association.
[pullquote]He appealed to the travelling public to respect the increment and avoid conflicts with bus drivers and conductors.[/pullquote]
He appealed to the travelling public to respect the increment and avoid conflicts with bus drivers and conductors.
The Association has further appealed to the Road Transport and safety Agency- RTSA and other relevant authorities to consult his Association when increasing the penalty fees for traffic offences.
He said this would avoid what happened in Livingstone recently where bus and taxi drivers demonstrated over newly introduced fares.
In another development, the Association has expressed concern over the delay to open the newly constructed Kulima Tower bus shelter.
Spokesperson, Steve Zulu appealed to the council to quickly open the bus station. He said buses loading from the streets were inconveniencing both members of the public and companies operating from the area.
Zambia National Broadcasting Corporation ZNBC Assistant News Manager Mangani Phiri has died.
Mr. Phiri, 44 died in Lusaka in the early hours of yesterday morning after collapsing.
Sister to the late Mangani Phiri, Judy Chileshe confirmed the death to ZNBC News in Lusaka.
He worked for ZNBC for 22 years.
Mrs Chileshe said the funeral gathering is at Mr Phiri’s home in Lusaka’s Chalala area and burial date will be announced soon.
The Late Mangani Phiir joined ZNBC in 1989 as a news reporter and rose through different files and ranks.
In August 1991 the late Mr Phiri was appointed Senior Reporter and was later in 1996 promoted to the position of Deputy News Editor.
A year later, Mr Phiri was promoted as News Editor in September 1997 and transferred to the Kitwe studios.
In September 2004, the Late Mr Phiri was transferred back to Lusaka as News writer and was on November 7th the same year appointed Assistant News Manager a Position he held until the time of his death.
And the Zambia Union of Broadcasters and Other Information Disseminators ZUBID has described the death of Mr. Phiri as a loss to the corporation.
ZUBID President Simon Mwila said the Union has been taken aback by the sudden death of Mr Phiri whom he said had contributed greatly to the well being of ZNBC.
Meanwhile, The Zambia Public Relations Association is saddened by the death of Mr PHIRI.
Association Publicity Secretary Mwamba Siame said the works of Mr Phiri will be remembered as a household name in news production and documentaries.
Ms Siame described Mr Phiri as a dedicated journalist who served the profession with passion.
This is contained in a statement released to ZNBC News in Lusaka.
File: Zambian Breweries Group corporate affair director Chibamba Kanyama (l)
Zambian Breweries contributed K332 billion in indirect taxes to the Government last year, corporate affairs director Chibamba Kanyama announced in a statement.
Mr Kanyama said the 2010 contribution has increased by 20 per cent from the 2009 payment of K278 billion.
“Zambian Breweries plc has posted K332 billion in indirect taxes to Government coffers for the 2010 period, which reflects an increase of 20 per cent in one year. The company has further recorded an 87 per cent increase in Output VAT standing at K118 billion paid in 2010,” Mr Kanyama said.
He said the rise in tax payments was largely because of last year’s reduction in excise duty on clear beer from 60 per cent to 40 per cent.
“The Government has also won by capturing tax which, otherwise, it would have continued losing. All the volume that was originally in the hands of the smugglers moved to Zambian Breweries.
“We have now been able to increase our sales volume and this benefit is not only for us but also for government that is now able to collect tax from us, and also for the consumer who is now getting our products at a reduced charge,” Mr Kanyama said.
He said with the reduction of excise duty last year, companies such as Zambian Breweries will become more profitable and this would lead to an increase in Pay-As-You-Earn, corporate and other taxes and licenses paid by suppliers and distributors.
The special team investigating operations of the suspended Lusaka City Council has uncovered documents in which the Patriotic Front (PF)-dominated council is processing the sale of land belonging to the National Assembly.
According to minutes of the plans, works and development committee meeting of November 17, 2010 attended by, among others, Mandevu Member of Parliament Jean Kapata, former deputy mayor and committee chairperson Charles Msiska, Lusaka Mayor Daniel Chisenga and his deputy Harry Hampende, the council intends to create five plots at the National Assembly land in Olympia.
The meeting was attended by 18 other officials from the country’s biggest council.
The revelation comes in the wake of some land scandals, including one in which the council shared State land with 102 plots in Lusaka’s Lilayi area without following the right procedure.
The National Assembly land is behind Parliament buildings at the Zesco sub-station and the plots to be created would mean that part of the road in the National Assembly Township would be sold to facilitate for the construction of five houses.
According to guidelines on land allocation, the council is mandated to spare about 12 metres of the road reserve but the land is small and the road has been affected.
The land also houses the Zesco sub-station in Olympia, and the acting director of city planning is reported to have sought authority from the electricity firm to allow the council to construct houses at its site against the long-standing arrangement where the sub-station was reserved for further expansion.
“The acting director of city planning explained that Zesco indicated that they had no objection provided the cost of re-routing the cables at K114,825,200 was met by deserving applicants,” the minutes read in parts.
At the Wednesday, November 17, 2010 meeting, the matter was deferred to allow for a tour of the site to be undertaken by the committee and make members decide on the matter properly.
The tour took place on Thursday, December 30, 2010 after which the plan to sell the land was passed, but implementation was blocked following a decision by Minister of Local Government and Housing Brian Chituwo to suspend the council for 90 days.
“Arising from the findings of the committee after the tour conducted on Thursday, December 30, 2010, the committee recommends that five plots be created as opposed to three and that the proposed layout be approved,” the minutes state.
The committee also recommended that the plots be numbered by the surveyor general and the cost of surveying be met by the would-be buyers.
The list of applicants was forwarded to the commissioner of Lands after passing another recommendation that the applicants would pay for the cost of re-routing the cables from the Zesco sub-station.
The Government has suspended LCC for 90 days and appointed an administrator to manage the affairs of the council following allegations of impropriety in the land allocation.
Other irregularities faced by the council include misuse of funds in which huge sums of money were directed towards personal emoluments at the expense of service provision and in breach of the law, which requires them to spend more money on servicing the community.
THE opposition Patriotic Front (PF) has continued to juggle its national leaders in yet another shadow cabinet, with the latest inclusion being former Chadiza member of Parliament Panji Kaunda who is earmarked for the post of Agriculture minister.
Their latest ‘innovation’ has also seen the inclusion of former Chipangali MP Lucas Phiri earmarked for the Home Affairs portfolio.
The new machinations have rocked the PF boat, with some members being dissatisfied by their president Michael Sata’s scheming, especially that he has given himself three portfolios – Presidency, Defence and Local Government.
In the envisaged PF government, which has no place for its pact partners United Party for National Development (UPND) members, party secretary-general Wynter Kabimba has lost his earlier appointment as vice-president to Guy Scott because of his (Kabimba’s) alleged involvement in the Lusaka City Council land scam.
Well-placed PF sources revealed in Lusaka on February 28 that Kabwata MP Given Lubinda, who was left out of the earlier shadow cabinet, has been earmarked for the position of Minister of Information and Broadcasting Services.
Although Mr Kabimba is still seen as the favourite to assume the position of vice-president, sources said the recent land scandal at LCC may see him give way to Dr Scott.
However, the PF sources indicated that Dr Scott’s undoing may be his involvement in what became known as the 1992 ‘Swinegate’ scandal when he served as Minister of Agriculture.
Roan MP Chishimba Kambwili has retained his shadow portfolio of Minister of Finance, given his consistent call for the re-introduction of windfall taxes in the mining sector.
Mwenya Musenge would be Mines Minister while Mr Lubinda has been given the shadow portfolio of Information and Broadcasting Services to dissuade him from challenging Mr Sata for the position of PF president should the party hold a convention.
Conspicuously missing from the list of shadow ministers is Inonge Wina, who has allegedly failed to deliver Western Province to the PF.
QFM reports that United Party for National Development (UPND) Leader Hakainde Hichilema has charged that Patriotic Front (PF) secretary general Wynter Kabimba has a petty mind and that he will not respond to his challenge to tell the people of Zambia whether or not the UPND has agreed to the proposal made by Professor Clive Chirwa on the PF/UPND pact.
Mr. Hichilema said he would not engage himself in an argument with Mr. Kabimba as the people of Zambia will not know who is telling the truth between the two.
He wondered why Mr. Kabimba had become more interested in calling for the meeting between the PF and UPND when they never responded to the call earlier made by the UPND to quickly convene a meeting.
Mr. Hichilema said it was pointless for the two political parties to challenge each other when there are more important issues they can address.
He said he will not involve himself in any argument with Mr. Kabimba adding that the PF secretary general can continue with his arguments because he enjoyed doing so.
Mr. Hichilema has observed the need for the Patriotic Front to understand that public service is about serving the people of Zambia and not sharing jobs.
[pullquote]Mr. Hichilema has observed the need for the Patriotic Front to understand that public service is about serving the people of Zambia and not sharing jobs.[/pullquote]
And Times of Zambia reports that PATRIOTIC Front (PF) president Michael Sata has said United Party for National Development (UPND) president Hakainde Hichilema has been leading a small and tribal party, which would tumble in this year’s presidential elections because he emerged from the blues to assume his position.
Mr Sata said within the time he had been in the pact with the UPND, he had managed to find out that the UPND was actually only popular in Southern Province, which he said was proof that its leader was tribal and lacked a track record of how he ascended to the helm of the opposition party
Ironically, Mr Sata said he had built PF from the scratch after rising through the ranks to become Lusaka District governor in the UNIP era, Kabwata member of Parliament (MP) and Cabinet minister before he formed his party, which he had built while Mr Hichilema just emerged from nowhere to pronounce himself president of the UPND after scheming his way out.
Mr Sata was angered by Mr Hichilema’s performance on a QFM live phone-in programme last week where he said PF secretary general Wynter Kabimba was responsible for the death of the pact and that Mr Sata was hungry for power, hence their declaration that the PF leader was the pact’s presidential candidate.
“If UPND are not power-hungry, let them leave politics and do something else. Where in this country are they popular apart from Southern Province? UPND is a small tribal party but since they have declared that they will contest on their own, I wish them good luck,” Mr Sata said.
[pullquote]“If UPND are not power-hungry, let them leave politics and do something else. Where in this country are they popular apart from Southern Province? UPND is a small tribal party but since they have declared that they will contest on their own, I wish them good luck,” Mr Sata said.[/pullquote]
He said Mr Hichilema had a dubious character that he used to ascend to positions of authority and this was what the PF never wanted to happen in the pact.
“I have a track record myself because I have built this party but Mr Hichilema just came from nowhere because he uses dubious means to get his way up. Ulembe bwino efyo ndekweba. Ubebe (Write what I am telling you well, tell them)
“Mr Hichilema is a hijacker, dubious and an opportunist,” Mr Sata, who is in Mporokoso for campaigns for this Thursday’s parliamentary by-election said.
He said PF could not lean on UPND because it was very popular while UPND was relying on telling the people of Zambia lies to gain popularity.
Mr Sata said he was disappointed that the two opposition parties were now attacking one another in the media instead of working together because of the behaviour of UPND and its leader.
Mr Sata said UPND should be above board instead of provoking other political players and added that the PF was aware that UPND was already working with the Movement for Multi-Party Democracy (MMD).
Meanwhile, Mr Kabimba has accused Mr Hichilema of employing tricks against Mr Sata in the loose alliance to win adoption for candidacy in the 2011 presidential elections.
Mr Kabimba said his party would not allow Mr Hichilema to use the 1996 formula that was used at the time to make him the automatic choice to be head of the United Democratic Alliance (UDA).
[pullquote]“Mr Hichilema is a hijacker, dubious and an opportunist,” Mr Sata, who is in Mporokoso for campaigns for this Thursday’s parliamentary by-election said.[/pullquote]
Featuring on a live MOBI television programme Open Forum which also had UPND spokesperson Charles Kakoma, Mr Kabimba said Mr Hichilema lost the 2006 elections terribly to the MMD and PF because of using such tricks.
Mr Kabimba accused UPND of hiding under the cover of putting together the social economic programme before electing the pact leader because it wanted Mr Hichilema to employ a formular that would make him the preferred candidate so that Mr Sata was knocked out.
He argued that the social and economic programme being agitated by UPND could not be mooted without a leader and UDA only announced Mr Hichilema as its candidate and the issue of the social and economic programme never arose.
Mr Kabimba said the pact leaders must be bold and announce the failure of the pact because of the deep divisions that had engulfed the pact lately.
He said the PF did not go into the alliance formed on June 4, 2009 after realising that it would falter in the 2011 elections but because of the need to form a majority Government.
He said there was need to bring on board all the stakeholders, including those aligned to UPND, but the party had the capacity to win the elections as a single entity.
But Mr Kakoma differed with Mr Kabimba, saying the reason for the formation of the pact was that the opposition was too weak to beat the MMD.
“This explains why we are having problems. Now I am being told that the reason why we had came together was to form a majority Government. For us we did not think that the most important thing was leadership.
“What we thought was that we were forming the pact because people wanted us to address poverty by putting up a social and economic programme,” Mr Kakoma said.
Mr Kakoma said the UPND was not prepared to rush into the sharing of positions but that fundamentals must be addressed. He said UPND was not tribal but national.
But Mr Kabimba maintained that the central cause of the divisions in the pact was the absence of a leader and not the lack of social and economic programmes.
Collins Mbesuma’s reeducation at his new Durban employers continued last weekend despite being on the losing end.
While Golden Arrows lost 2-1 away to Mpumalanga Black Aces in Witbank on Sunday afternoon, Mbesuma was on target.
His goal over the weekend was his fifth in the league since joining Arrows after half the season in the wilderness following his disgraceful exit from Moroka Swallows in the build-up to the 2010/2011 campaign.
Mbesuma’s tally is half that of his heir apparent at Kaizer Chiefs Knowledge Musona of Zimbabwe with debate raging whether the latter is better than the former Amakhosi star.
And Mbesuma’s Zambia team mate Jacob Mulenga, with him he travelled with on their debut trials in Europe in 2004 at Stade Rennes in France, is full of praise for his fellow striker who scored on his return to international duty after a 12 month hiatus on February 9 in a 4-0 away friendly win over Swaziland in Manzini.
“It’s good to see Collins (Mbesuma) playing well. We as Zambians should be proud of him, he has been through a lot,” Mulenga told The Post newspaper in an interview on Monday.
Meanwhile, if anyone should be given credit for his seemingly gradual revival it should be his agents ProSport International.
They have stuck by Mbesuma despite doors slammed in his face before they withdrew him to an academy last November in Durban to try and get him back in shape.
Arrows took a New Year gamble that is paying off with Mbesuma now the teams top scorer despite joining them in the final part of the season.
WEEKEND SCORECARD
2011 Samuel ‘Zoom’ Ndhlovu Charity Shield Semifinals
The Zambia Institute of Chartered Accountants may punish the accountants of Mopani Copper Mines Plc, a unit of Glencore International AG, if they were complicit in “flawed” tax submissions.
“We need maximum cooperation from the company and if those interviewed are found wanting, necessary punitive measures shall be imposed,” Chintu Mulendema, president of the association, known as Zica, said by phone on Feb. 26 from Lusaka, the capital. Their practising licenses could be suspended, he said.
There may have been “irregularities” in the company’s tax submissions for the 2008 fiscal year, Wisdom Nekairo, the director general of the Zambia Revenue Authority, said on Feb. 13.
The audit, commissioned by the Zambia’s government last year, concluded that there were inconsistencies in production and revenue figures submitted by Mopani for tax administration between 2006 and 2008.[pullquote]The draft audit into Zambia’s second-largest mining concern, Mopani Copper Mines, showed the company inflated costs and evaded taxes at its unit claims which officials at the mine and its parent company rejected.[/pullquote]
The government hired Grant Thornton Zambia and Econ Poyry, a Norwegian consulting and engineering company, in February 2009 to audit mining companies operating in the country.They produced a preliminary report in November.
The draft audit into Zambia’s second-largest mining concern, Mopani Copper Mines, showed the company inflated costs and evaded taxes at its unit claims which officials at the mine and its parent company rejected.
Tax consultancies Grant Thornton and Econ Poyry said that Mopani uses its relationship with its parent company, Swiss commodity trader Glencore International AG, to carry out practices such as inflating operational costs, underpricing of copper, irregular hedging and “transfer pricing” with Glencore’s unit in the United Kingdom, according to the summary. Transfer pricing usually refers to allocation of assets between related entities, sometimes at non-market prices.
A spokesman at Glencore’s Zambian unit said last week that the company rejects the conclusions of the audit.
Mopani Chief Executive Emmanuel Mutati said that the audit is “flawed and incomplete.”
“The draft report fails to recognize that Mopani is a tolling facility where 50% of the copper it produces comes from its own mines and the rest is made from third-party concentrates,” Mutati said. “This failure explains the inconsistent results and is one of the main reasons why the draft report has been unable to reconcile figures.”
Mopani is 73% owned by Glencore, while Toronto-listed First Quantum Minerals Ltd. (FM.T) holds a minority stake.
Mopani operates the Mufulira smelter and underground mine in Zambia as well as the Nkana mine. In addition to concentrates from its mines, the Mufulira smelter also treats concentrates from First Quantum’s Kansanshi mine.
The audit said that Glencore, which is also the sole purchaser of Mopani’s copper, determines prices and that some copper from the mine was sold between 2006 and 2008 under an old contract, in one instance 25% below the London Metal Exchange price.
Mutati however said that Mopani conducts transactions in an open and transparent manner, and the Zambian government as well as state mining companies have seats on the company’s board and are involved in decision making.
Mopani has output capacity of 250,000 metric tons of copper a year, making it Zambia’s second-largest miner by installed capacity.
When the minister will be tabling the 2011 budget, we expect him to aim and to display transparently on how Zambians will benefit from government’s programmes and policies and how their tax contributions will be spent.
For the poor, the Budget should continue to expand by bringing bread and butter on the table, rural development, better community services and social assistance grants for the elderly, the disabled and children in need. For workers, the Budget should emphasis on job creation and expenditure on the “social wage,” including access to health services, education, social security, transport and municipal infrastructure.
For the business sector, the Budget should expand investments in modernizing our infrastructure and transport logistics, accelerating further education and skills development and supporting research, technology and industrial investment. For the small business sector, the target of financial and enterprise development programmes, and tax relief measures should be in place.
For the youth, government should expand access and financial assistance for further education, and a range of initiatives aimed at expanding job opportunities.
All of this, and more, must be done within a sound fiscal framework. The minister must also recognize that we are taking steps, this year and next, on a long-term growth path, a decades-long transformation and expansion of our social and economic possibilities.
As comrade Chris Hani so rightly said, “We want to build a nation free from hunger, disease and poverty, free from ignorance, homelessness and humiliation, a country in which there is peace, security and jobs.”
Macroeconomic stability in an uncertain world
The growth and transformation of financial markets in recent decades has seen increased volatility of exchange rates and capital flows. Global commodity markets now account for significant fluctuations in prices for our energy imports, mineral exports, and food supplies.
The macroeconomic environment facing Zambians – through interest rates, exchange rates, inflation, and credit conditions – can be destabilized by those international shocks. The macroeconomic policy task is to provide a stable and predictable economic environment by offsetting such shocks as far as possible.
Our monetary policy designed and conducted by Central Bank are to target and achieve the low rate of inflation and interest rates. Fiscal and monetary policy should continue to work in partnership. Monetary policy, operation by the Bank of Zambia, should continue to be focused on controlling inflation, and to ensure that fiscal policy is countercyclical within a sustainable long-term framework. Movements in the exchange rate affect different sectors of the economy in different ways, and present difficulties in macroeconomic policy for many countries.
Recognizing the impact of Zambian Kwacha strength on the manufacturing industry, in particular, the minister should announce measures to moderate the potential effect of capital inflows.
Foreign exchange regulations should be amended to permit greater foreign investment by Zambian institutions.
Step up foreign exchange purchases by the Central Bank will have partially offset upward pressures on the Kwacha.
Economic Development
We seriously expect job creation, zero fraud and a corrupt free government, low taxes, free education, Social sector development, infrastructure & governance.
While we appreciate all sectors in support, we expect the government to disburse amount of funds to boost agriculture. The poverty level in Zambia has riched the highest level such that only the rich can have bread and butter and afford the three meals per day.
Unemployment level is very high and alarming. We are like a nation on autopilot.
Fraud and corruption are elevated by scraping the Anti-Corruption Commission by our government. That will lead to a lot of things that has transpired during the past years. We saw and noticed that almost every report by the Auditors General has money misused. We also saw the:
Selling of Zamtel and purchasing by RP Capital
The removal of the Anti Corruption Commission (ACC)
The Constitution is a key to every developing country like ours. The draft does not have our mandate as a people-driven constitution but the few selfish individuals. To have a sustainable and validity policy, we need to have a people’s constitution.
Social economic – This has fallen below par, from bad to worse. We have noted that we probably have some of the worst medical facilities/scheme hospitals in the world without taking into account the funds being misappropriated by the Ministry of Health. The National Mobile Health Services program hospital – Is that a tangible solution to Zambia’s health crisis? I leave it to you people to answer yourselves.
People need to have a low tax bracket. One may argue that: “where does government get the funds if low tax is to be implemented effectively”? A windfall tax abolished is a simple example. Where is the government getting the money from? We can exchange the two to ensure that we put money into the people’s pockets.
In conclusion, I repeat, with jobs comes dignity. With dignity comes participation. And from participation emerges prosperity for all.
“In judging our progress as individuals we tend to concentrate on external factors, such as one’s social position, influence and popularity, wealth and standard of education… It is perfectly understandable if many people exert themselves mainly to achieve all these. But internal factors may be even more crucial…Honesty, sincerity, simplicity, humility, pure generosity, absence of vanity, readiness to serve others – qualities which are within easy reach of every soul”,
THE Electoral Commission of Zambia has managed to register close to 80 percent of eligible voters for this year’s tripartite elections, according to the voter registration update for February 2011.
According to the update obtained by the Daily Mail, out of the 6,434,272 eligible voters countrywide, the commission has managed to capture 4,990,047 voters, representing 77.55 percent.
This means the commission has yet to register 1,444,225 more voters to reach the 100 percent mark.
With the current continuous registration and intensified sensitisation to encourage eligible voters to register, the target looks attainable.
However, this will require more efforts by all stakeholders because the elections are drawing closer.
The Copperbelt has recorded the highest number of registered voters at 832,963, followed by Lusaka Province with 756,388.
The capital city is, therefore trailing the Copperbelt by 76,605 voters, pointing to the need for more work to be done, considering that it is the most densely populated city with nearly two million inhabitants.
Northern Province has recorded the third highest number of registered voters with 627,220, while Southern Province is fourth, with 626,221 voters.
Eastern Province has captured 615,018, Central Province 462,955 and Luapula 395,050. Western and North-Western provinces have recorded 376,076 and 298,156, respectively.
[table id=17 /]
The figures are a compilation of the number of voters captured from all the districts in each province.
Lusaka Province has four districts, the Copperbelt 10 and Northern Province 13, including the newly established Mafinga.
The rest of the provinces have between seven and 10 districts.
To register as a voter, one must have attained the age of 18, live in the polling district where they applied to be registered and in possession of the green national registration card to confirm their Zambian nationality.
The Electoral Commission of Zambia recently announced the resumption of mobile voter registration while continuous registration is going on at district councils throughout the country.
The continuous registration focuses on new registration, replacement of lost, destroyed or defaced voter’s cards and transfers between polling districts following change of residential address.
It also focuses on change of name, deletions following the death of a registered voter and amendments because of errors in personal details.
