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Central Bank cautions commercial banks against abusing clients

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File:A boy selling boiled eggs in Katete to raise money for his school fees

Bank of Zambia Assistant Director, Isaac Muhanga has advised commercial banks to desist from abusing their clients’ trust as business ethics are important in supporting a stable and trusted financial marketplace.

Mr. Muhanga observed that in a competitive world, financial innovation was clearly the scheme that brought enormous growth to the global financial marketplace but in a bid to make extraordinary profit, business ethics were sacrificed.

“In a competitive world, financial innovation is clearly the scheme that has brought enormous growth to the global financial market place…as such innovation assured extraordinary profit, business ethics were sacrificed,” he said.

Mr. Muhanga said this on Saturday, during the Financial Markets Association (ACI) Zambia Annual Outing at Chrisma hotel in Livingstone.

He noted that in an increasingly integrated global financial system, the scarcity of financial crises could no longer be described as rare due to the demise of ethical behaviour.

Mr. Muhunga challenged financial market practitioners to strive to build an ethically sound financial marketplace and to enhance confidence within the markets in which they operated as doing so would enable them compete favourably on a global scale.

Meanwhile, Livingstone Acting District Commissioner Godwin Sanjase said the banking sector played a key role in the Zambian economy.

Mr. Sanjase said financial markets formed the backbone of the banking industry and as such needed to be robust and have the right calibre of dealers.

He said banks had been known to collapse if dealers got to unprofessional practices like in the case of Nick Leeson who caused the fall of Barings Bank in 1995.

Mr. Sanjase said government required highly competent professionals running the financial markets and as such shared a common goal with ACI Zambia to improve technical skills and knowledge among dealers.

Some members were awarded with trophies for various achievements during the ACI Zambia Annual Outing event.

[ZANIS]

Sata is confusing Hospital operations in Mpulungu- Chinyanta

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PF supporters in Mpulungu welcoming Mr. Michael Sata
File:PF supporters in Mpulungu welcoming Mr. Michael Sata

Northern Province Minister John Chinyanta has cautioned opposition Patriotic Front (PF ) leader Michael to stop interfering in the operations of health personnel in the Districts.

Mr. Chinyanta said it is unacceptable for Mr. Sata to cause confusion in hospitals in a bid to win political mileage.
The Minister was reacting to Mr. Sata’s impromptu visits to hospitals in Mpulungu, Mbala and Kasama without the knowledge of health authorities in the concerned institutions.

Mr. Chinyanta told ZANIS in Kasama today that the conduct of the PF leader shows lack of respect for both health staff and patients.
He warned that it is unlawful for any individual including Mr. Sata to interfere in the work of public officers to such a level that they fail to execute their duties diligently.

Mr. Chinyanta observed health personnel were working very hard to serve people’s lives and as such they must be supported by everyone.

He wondered why Mr. Sata chose to visit a sensitive ward at Kasama General Hospital without the escort of medical staff.

Mr. Chinyanta advised Mr. Sata to immediately stop his unbecoming behavior of invading in the privacy of patients admitted in hospitals.

The Minister said while clinics and hospitals were public places, there was need for Mr. Sata to consult health authorities on conditions of the patients instead of him storming their wards without notice.

Mr. Chinyanta accused Mr. Sata of playing to public gallery by trying to win support through negative criticism of government.

He observed that government has done a lot in the health sector in Northern Province, adding that health services have become accessible especially to people living in rural areas.

Mr. Chinyanta cited the construction of a new hospital in Mpulungu, the renovation of infrastructure at Mbala and Kasama General Hospitals as some of positive achievements scored by the government.

He added that a threatre at Kasama General Hospital is fully functional contrary to Mr. Sata’s claims that the facility was mal-functional.

Mr. Chinyanta has since advised Mr. Sata to immediately stop interfering in the operations of health personnel by following the right channel in visiting health institutions.

Recently, Mr. Sata in the company with PF officials’ disrupted the work of health personnel after he stormed wards at Mpulungu District hospital as well as Mbala and Kasama General Hospitals without seeking permission from health authorities.

[ZANIS]

Mutati bemoans Zambia’s export challenges

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Commerce, trade and industry Minister Felix Mutati has observed that Zambia still face challenges into the exportation of goods to the US market because of standards.

Mr. Mutati said that though African countries, Zambia inclusive have market access into the US, through the African Growth and Opportunity Act (AGOA) , issue of standard has complicated the entry of goods.

He has stated that at the next AGOA summit, Zambia is likely to address challenges that hamper trade with the US.

The Commerce and Trade Minister noted that since trade with the US is only limited to oil and oil related products; this has brought limited transaction between the two countries.

He said that government wants to lobby for increased trade in other products and extension of trade period.

Mr. Mutati also says said that they is need to relax entry conditions to the US, as that would increase trade.

AGOA provides trade preferences for quota and duty-free entry into the United States for certain goods, expanding the benefits under the Generalized System of Preferences (GSP) program.

Notably, AGOA expanded market access for textile and apparel goods into the United States for eligible countries.

This resulted in the growth of an apparel industry in southern Africa, and created hundreds of thousands of jobs.
[ QFM ]

Economists back RB trips

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President Rupiah Banda

The Economics Association of Zambia (EAZ) has said foreign trips undertaken by President Rupiah Banda are calling the world’s attention to Zambia’s investment potential and called on critics to be objective in their analyses.

EAZ president Noel Nkhoma said former Defence minister George Mpombo and other critics of the president should remember that Zambia was not an island and that the president had a duty to market the country abroad.

He said in an interview in Lusaka yesterday that the country would in time witness the positive fruits of President Banda’s investment-seeking trips, and commended him for inviting local business executives.

“He [Mr Mpombo] is wrong. In his latest trip to China, British Prime Minister David

Cameron travelled with several business executives to market their products and set up joint ventures.

“Has he heard anyone in that country condemning David Cameron? As Zambians, we must be objective,” Mr Nkhoma said.

He said the benefits for the country of foreign trips by President Banda would go up following his decision to invite local business executives to set up joint ventures with foreign investors.

Mr Nkhoma advised the business executives travelling with the president abroad to find a platform to share the benefits with other Zambians and that way, their interactions with foreign businesses would add more value to the people in the country.

Some business executives travelled ahead of the president on his trip to Brazil to engage business firms in that country for joint ventures and to market their products and services.

“We are very pleased that the president has taken heed of our advice that he should invite businessmen and women on these international trips.
“They will help open doors of opportunities for our businessmen to engage in meaningful ventures,” he said.

He said Zambians would in the near future appreciate Mr Banda’s trips more than they currently do because more jobs would be created as investments increase.
[pullquote]“We are very pleased that the president has taken heed of our advice that he should invite businessmen and women on these international trips.
“They will help open doors of opportunities for our businessmen to engage in meaningful ventures,” he said.
[/pullquote]
Mr Nkhoma wondered why Zambian politicians were condemning initiatives that were bringing value to the economy while in other countries similar thinking was being embraced.

He also called on President Banda to issue a decree that contracts below a certain threshold should be exclusively for Zambian firms in an effort to empower them like the situation was in Botswana.

Mr Nkhoma said the law providing for such modalities of empowering Zambians existed in the Citizens Economic Empowerment Commission Act but had not been implemented.

During a visit to Brazil, presidents Banda and Lula da Silva expressed gratitude that the bilateral relations between the two countries were enhanced by the signing of eight agreements and two Memoranda of Understanding (MoU) during President da Silva’s visit to Zambia in July this year.

Brazil and Zambia also signed an MoU on the establishment of a mechanism of political consultation aimed at creating a permanent channel of bilateral dialogue.

President Banda addressed a Brazil-Zambia business forum in Sao Paulo and called on Brazilian business investors to consider setting up businesses in Zambia because of its strategic location and positive investment climate.

He stressed the need for foreign investors to form partnerships with local investors.

[ Times of Zambia ]

RB is a president in transit-UPND

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The United Party for National Development (UPND) general secretary, Winstone Chibwe has challenged republican President, Rupiah Banda to ensure that resources meant for the operations of the food reserves agency (FRA) serve the intended purpose and not his world tourism ventures.

And Mr. Chibwe has described president Banda as a transit president who never comes back home but just passes through and proceeds to the next point.

Mr. chibwe said that president Banda does not have time to stay in the country long enough to hear for himself what people are crying for because he wants to use the little time left to tour every corner of the world.

He also observed that there are too many costs to his delegation that he does not realize that if well spent, he would record more growth than what is currently happening to the nation’s economy and the well-being of the people.

Meanwhile, Mr. Chibwe said that it is critical that the new FRA board is fully supported by government because the task before them is huge.

Mr. Chibwe has also urged the new board member to double up their effort in addressing the various challenges facing the FRA in crop marketing and especially storage.

[ QFM ]

A Song of Praise

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President delegates Botwsana Trip to Foreign Affairs Minister

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Zambia's Foreign Affairs Minister Kabinga Pande (l),

President RUPIAH BANDA has delegated Foreign Affairs Minister KABINGA PANDE to represent him at todays SADC Heads of States meeting in Botswana.

The President was due to Chair saturdays SADC Troika Heads of State Meeting of the Organ on Politics, Defence and Security Co-operation.

Mr BANDA has however, delegated Foreign Affairs Minister KABINGA PANDE to represent him at the SADC meeting due to pressing national commitments.

The SADC meeting, which will be marked by the official commissioning of the new SADC headquarters in Gaborone, is expected to discuss political issues in the region.

This is according to a statement released to ZNBC by the State House Press and Public Relations Unit in LUSAKA yesterday.

President BANDA arrived back home friday from Brazil, where he was on a three day State visit.

During the visit, Mr BANDA and his delegation met a number of Brazilian investors.

The President, who also met his Brazilian counterpart LUIZ INACIO LULA DA SILVA, explained that his government will soon come up with mechanisms to replicate some projects being undertaken in Brazil.

President BANDA said this shortly after his arrival from Brazil.

While in Brazil, President Banda also held talks with the in-coming President of Brazil, Dilma Rousseff and other senior officials.

During his visit, President Luiz Inacio Lula da Silva promised to enhance trade relations and hinted that companies such as Vale and Scania will soon invest in Zambia.

Mobile clinics best alternative in remote areas

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A visiting Norwegian Nurses Organisation says Mobile Clinics are the best alternative in the delivering of quality health care services to remote areas.

Organisatsion Vice president JAN ERIK says Mobile Clinics have proved to be an efficient way of providing health services to people that are far away from the traditional health facilities.

Mr ERIK says he would recommend to the Zambian government to go ahead with the purchase of more Mobile Clinics if his organisatsion was approached for advice.

He said this during a press briefing organised by the Zambia Union of Nurses Organisatsion in Livingstone saturday.

And Zambia National Union of Nurses Organisation president THOM YUNG’ANA said the concept of Mobile Clinics is NOT a bad idea.

Mr YUNG’ANA however, observed that various organisations and individuals have raised concerns over the Mobile Clinics because of issues of sustainability.

ZNBC

Dario Begins Cecafa Cup Training

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The Zambia national team held its first training session in Lusaka on Saturday ahead of their participation in the Cecafa senior Challenge Cup next week.

21 out of 23 call-up’s had by Saturday arrived in camp for the opening day of training held at Nkoloma stadium in Lusaka.

Georgian-based midfielder Chisamba Lungu is the first foreign-based player in camp while. Defender Davies Nkausu of South African league champions SuperSport United is due to join the team on Sunday.

Coach Dario Bonetti has meanwhile drafted two players into the team to replace midfielder Jonas Sakuwaha of Lorient in France and Chinese-based James Chamanga who have been dropped from the team.

Strikers Luka Lungu and Jackson Mwanza of Power Dynamos and Zesco United respectively have joined the team as replacements to Chamanga and Sakuwaha.

Also in camp were four Zanaco players who included striker Winstin Kalengo and vanecious Mapande who will be joining Egyptian club Arab contractors next month.

The duo’s team mates Allen Mukuka, Henry Banda and goalkeeper Roger Kacha are also part of Bonetti’s Cecafa Cup training camp.

Zambia are in Group A at this year’s Cecafa Senior Challenge Cup together with Burundi and Somalia including host Tanzania whom they face in their opening pool match on November 27.

This year’s Cecafa Senior Challenge Cup will run from November 27 to December 12 in Dar-es-Salaam.

RTSA introduces a new drivers license

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The Road Transport and Safety Agency-RTSA has introduced a new driver’s license.

The new licence has improved security features.

The Agency has also bought a card printing machine.

The machine, which has been bought at US 5.3million dollars has the capacity to produce 7 hundred cards in an hour.

RTSA Board Chairperson Wilson Mwandila said the security features on the new license will reduce chances of forgery and fading of details.

Mr. Mwandila said this during the official launch of the licence and the card printing machine in Lusaka.

Communications and Transport Deputy Minister Mubika Mubika said motorists using the current licenses are not required to get new ones immediately.

[ZNBC]

New diesel on Zambian market

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Indeni Oil Refinery in Ndola

A new type of diesel called low sulphur has been introduced on the Zambian market.

Energy Minister Kenneth Konga said government allowed the importation of the new type of diesel as a way of building up stocks in the country.

Mr. Konga says the low sulphur diesel is advanced and friendly to modern equipment.

He was responding to a question from Itezhi Tezhi Member of Parliament Godfrey Beene during the question for oral answer session in Parliament Friday.

Mr Beene wanted government to explain the presence of the low sulphur diesel on the Zambian market.

Mr Konga explained that government prefers the low sulphur diesel and will soon put up equipment at Indeni Refinery in Ndola to process the fuel.

[ZNBC]

NCC hasn’t produced desired results despite spending – TIZ

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Transparency International Zambia (TIZ) has charged that it is not surprising to note that the National Constitution Commission (NCC) did not produce the desired results despite huge amount of money used in the exercise.

TIZ president Rueben Lifuka said it was obvious that the country would not hold the 2011 general elections under the new constitution because core issues were abandoned in the constitution making process.

Mr. Lifuka noted that this is a reflection that government does not have any political will in the referendum.

He added that this should be a lesson enough for Zambians to realize government’s irregularities.

Mr. Lifuka said the 2011 elections would not be any different from the previous elections that were hampered by election petitions.
[ QFM ]

NCC boycott vindicated – Kapita

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United Party for National Development (UPND)vice president Richard Kapita says those who boycotted the National Constitutional Conference (NCC) have been vindicated by the announcement that the new constitution will not be ready by 2011.

Mr Kapita has called on voters to punish the MMD in the 2011 elections for being wasteful with tax payers’ money.

He said those who were against the NCC have been proved right by government’s announcement that only provisions from the draft constitution that do not require going to the referendum will be enacted by 2011.

The UPND Vice presudent said Zambians should hold the MMD government responsible for assuring the nation that the new constitution will be ready by 2011.
[pullquote]”What government has done with its failure to enact a new constitution by 2011 to the people who supported the NCC including the UPND is to throw an “egg” in their faces,” Mr. Kapita said.
[/pullquote]
Mr . Kapita wondered what would be enacted if the constitution will not have the 50 percent plus 1 vote clause and other important provisions contained in the draft.

“What government has done with its failure to enact a new constitution by 2011 to the people who supported the NCC including the UPND is to throw an “egg” in their faces,” Mr. Kapita said.

Mr. Kapita, however, ruled out his party boycotting the 2011 elections on the basis of the constitution.
[ QFM ]

MUZ vow to bar Hikaumba from re-contesting ZCTU presidency

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The Mine Workers Union of Zambia (MUZ) has vowed to bar Zambia Congress of Trade Unions (ZCTU) President, Leonard Hikaumba from contesting for a third term as he has over stayed.

MUZ Secretary General, Oswell Munyenyembe has accused Mr. Hikaumba of having become compromised and toothless.

He claimed that Mr. Hikaumba has not been paying attention to the plight of workers as witnessed during the time workers went on a country wide strike and were victimized by Government.

Mr. Munyenyembe said there is need for ZCTU to have a leader who would take government and other employers to task in the interest of uplifting the welfare of workers.

The union leader was speaking to Muvi TV News in Kitwe.

Bats invasion worry Ndola residents

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Fears are rising among Ndola residents over allegations that fruit eating bats which have infested Ndola’s Northrise area may carry rabies.

Millions of bats have infested Ndola targeting three houses and have been described as a nuisance because of constant noise and excreting indiscriminately in the affected houses.

The migratory bats are not indigenous to Zambia and are believed to have started finding a safe place in Northrise as far back as 1998.

Bats are mammals that give birth, breastfeed offsprings and have their head facedown when resting.
[ MUV TV ]

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