The Communication Authority of Zambia (CAZ) will soon start disbursing over K14 billion rural telecommunication funds to all the 72 districts of the country.

CAZ Director for Economic Regulations, Susan Mulikita, said the disbursement of the rural telecommunication funds will step-up CAZ efforts of enhancing Information Communication Technology (ICTs) services in all the areas of the country.

Mrs. Mulikita said this today at the media forum organised by the Communications Authority of Zambia in Lusaka.

She said the disbursement of the funds will also encourage local entrepreneurs to set-up telecommunication businesses especially in rural areas to help enhance the growth of the ICT sector in the country.

Mrs. Mulikita further said the introduction of the rural telecommunication funds will also have various incentives that will empower people in rural areas to set-up ICT businesses and encourage ICT operators to effectively grow their business.

She disclosed that the Communications Authority of Zambia Board has already allowed the authority to start disbursing the funds in order to facilitate the growth of the ICT sector in the country.

ZANIS/TK/KSH/ENDS

Zambia has called for international support in its quest to become a middle income country by 2030.

Lands minister Bradford Machila said Foreign Direct Investment ( FDI )inflows were one of the ways the international community could assist Zambia achieve its feat in accordance to the 2030 vision.

He said the FDI would assist Zambia in develop its human resource availability and eventual infrastructure Development.

Mr Machila was speaking at the 63rd regular session of the United Nations General Assembly in New York, United States ,Tuesday.

This is according to a statement released to ZANIS from Zambian mission in U.S.A, signed by first Secretary Moses Walibuta.

This was during a high level meeting on Africa’s Development Needs in united States of America.

Mr Machila noted that recent improved performance in commodity prices has contributed to positive growth of most of the African countries like Zambia, which has an average grown of 5.5 percent annually in recent years.

The minister further noted that positive growth is yet to be translated into poverty reduction and improved social –economic welfare for the majority of the population as the poverty levels remained high mainly because of low investment in key sectors .

He said Zambia was particularly concerned about the rising world food and oil prices he said was threatening the country vision of becoming a middle income country by 2030.

He noted that the recent price increases in oil and food now threatens Zambia’s positive economic gains.

Mr Machila pointed out that most Africa countries will not be able to achieve the set goals with out stepped up efforts at both national and international levels.

He however noted that the implementation of most commitments under the international agreed development Goals and targets.

And speaking earlier united Nations secretary General Ban-Ki-moon said the cost of solving the food crisis , addressing global warning and pulling millions out of extreme poverty in Africa looked like good value.

Mr ki-Moon apple ad to all donors to implement the 2005 Gleneogles Summit pledge to more than double aid to Africa.

He noted the need to improve maternal health ,slowest –moving MDG and make sure every child has access to free primary education .

Mr Ki-moon told the many head of state and government at the meeting that it was important and critical in preparations for high –level meeting on the MDG.

ZANIS/AH/ENDS/MM

Acting President Rupiah Banda has urged foreign investors to take advantage of the conducive business environment government has created.

Mr Banda says foreign investors should rise to the challenge of setting-up businesses in Zambia because of the good business environment that government has created.

The Acting President said this when a delegation from the Access Bank Zambia paid a courtesy call on him at government house in Lusaka, Tuesday.

Mr Banda, who assured investors of more government support, said it was gratifying to see that more foreign investors were investing in various sectors of the economy thereby contributing to national development.

He commended Access Bank Zambia for setting-up business in Zambia, a move he described as a catalyst to improving the welfare of people in the country.

Mr. Banda said government will continue supporting programmes aimed at contributing to national development as well as employment creation.

And Access Bank Zambia Group Deputy Managing Director Hebert Wigwe said the Bank has committed over US$200 million into the expansion programmes of the Bank in African.

Mr. Wigwe said the Bank has also sourced US$1 billion to go towards the expansion of the Bank to Europe and other continents in the world.

He pledged the Bank’s support to Zambia’s Banking sector with a view to developing the sector.

Access Bank Zambia is tomorrow set for official opening.

ZANIS/TK/ENDS/MM

The pump price of petrol has been reduced by almost K2-thousand per litre in all provincial centres.

The Energy Regulation Board (ERB) says the new pump price of petrol is now seven thousand six hundred and 91 Kwacha for Lusaka.

This represents a reduction of one thousand 956 Kwacha per litre of petrol which is currently selling at nine thousand 647 Kwacha per litre.

The pump price of diesel reduced by an average of one thousand and 91 Kwacha in all the provincial centres.

In Lusaka, diesel will now be selling at seven thousand 264 kwacha per litre from the previous eight thousand 355 Kwacha per litre.

Kerosene has also been reduced by 852 kwacha per litre while no price changes have been effected for Jet A one and heavy fuels.

ERB Chairperson, Sikota Wina announced the new prices at a press briefing in the Zambian capital, Lusaka, Tuesday.

He said the new prices follows government intention to cushion consumers against rising fuel prices by reducing excise duty on petrol from 45 percent to 36 percent.

Finance Minister N’gandu Magande has it is a big challenge to maintain a single digit inflation rate in light of the soaring global oil and fuel prices.

He said short and medium developments in the external sector would continue posing a threat on macroeconomic stability and effective monetary policy.

He said inflation challenges could only be resolved through collective efforts by all key stakeholders especially those in the financial sector.

Mr. Magande said this during the Second African Rural and Agricultural Credit Association (AFRACA) Conference under the theme: Promoting Financial Sectors with increased investments in agriculture.

He also observed that between 2 and 3 billion people worldwide, are excluded from having access to financial services, despite consensus on the importance of financial inclusion as a poverty alleviation tool.

Mr. Magande said the limited use of financial services in developing countries, has become an international policy concern, because widespread financial exclusion was disadvantaging the poor people in low income brackets.

He said access to financial services for all was a key factor in development, because it contributed to economic growth and social safety nets that protect the vulnerable from adverse economic shocks.

He said Government recognized the importance of the financial sector in national development and would aim at establishing a financial system which would be stable, sound, market-based and in support of economic diversification and sustainable growth.

At the same function, Bank of Zambia Governor Caleb Fundanga said Government would strive to increase the level of financial services to 48 percent by the end of 2008 and 50 percent by 2009.

Mr. Fundanga said this was because a study called Finscope Supply-Side Survey conducted in 2007 revealed that bank charges were unaffordable for 90 percent of the rural adult population and banks had high interest rates.

The governor was however delighted to note that financial institutions in the country were rising up to the challenge of broadening the scope of their services and extending beyond traditional customers by including previously unbanked communities.

ENDS/AMM/PK/ZANIS.