Monday, June 30, 2025
Subscribe
Advertisement Banner
Home Blog Page 5579

LuSE, Zesco to meet over raising capital

editor
-
11

THE Lusaka Stock Exchange (LuSE) will this week meet Zesco limited to engage the utility company appreciates the process of raising capital on the stock market.

LuSE wants to find out if the electricity utility has immediate capital raising projects that require cheap funding.

Speaking in an interview, LuSE general manager, Beatrice Nkanza said she was surprised to learn that Zesco cannot raise capital from the capital market because they were of the opinion that it was expensive.

She was reacting to Zesco comments last week that raising capital on LuSE was expensive as compared to banks.

“The notion that LuSE fees are expensive is a bit blanket. There is cost of doing business everywhere and to isolate LuSE and say its expensive is incorrect,’’ she said.

Mrs. Nkanza said expenses incurred by companies when rising funding on the exchange were not LuSE expenses per se.

She cited the Securities and Exchange Commission (SEC) as the first entry point when a company wanted to either list or rise capital.

She added that SEC had its own cost structure and once this was done, there was also a brokerage service that was offered to the intending issuer.

The brokerage service is a package of services that ranges from accounting, lawyers and brokers.

She stated that at each stage, parties were free to negotiate before they reached the exchange for assessment of application and approval for listing.

Mrs. Nkanza however pointed out that there was need to sensitize the masses on LuSE as a cheaper source of income.

She stated that if financial institutions like the Development bank of Zambia and Barclays bank of Zambia could raise bonds on the capital market, it simply showed that the exchange was a cheaper source for developmental projects.

“We would like Zesco to come on the market and be part of the change going on in the capital market. In the recent past, we have seen Chilanga cement raise K200 billion on LuSE,’’ she said.

Mrs. Nkanza pointed out that it would be a good start for Zesco to go on the capital market and raise some of the funds it required for its projects in order to meet the looming power shortage in the country.

Stolen copper cathodes worth millions of kwacha recovered in Nakonde

editor
-
28

TAZARA police in Nakonde have arrested three people and recovered copper cathodes worth millions of kwacha which were stolen from a goods train which was going to the port city of Dar-es-salaam in Tanzania last week.

Among the arrested persons are two Nakonde residents.

Nakonde District Commissioner Edwin Sinyinza confirmed the arrest of the trio and
the  recovery of copper cathodes weighing seven  tonnes.

Mr Sinyinza said RAZARA police officers under the command of their officer-in-charge
Chief Inspector Katongo  managed to recover all the copper cathodes which had been
stolen.

The DC said 40 sheets of copper cathodes were recovered between Kapwila and Mwenzo
Tazara railway station with the help of the Community Crime Prevention Unit (CCPU).

Four other sheets  were recovered in the Tanzanian border town of Tunduma following
the intervention of TAZARA police deputy commandant Binwell Chimfwembe.

Mr Sinyinza commended TAZARA police for tacting swiftly to recover the stolen items.

“I wish to commend our gallant police officers at TAZARA police station for moving
in quickly to arrest the suspects and recover copper cathodes worth hundreds of
millions of kwacha,” Sinyinza said.

“We need officers who are vigilant and patriotic in curbing cross border crime”

The DC added that there was need to deal firmly with people bent on working against
the country’s booming economy through such thefts.

The three arrested men are detained at Nakonde police station and will appear in
court soon.

Find alternative ways of disbursing HIV/AIDS funds, government urged

editor
-
0

Alliance of Mayors and Municipal Leaders onHIV/AIDS in Zambia (AMICALL) has expressed displeasure at the manner government is allocating funds for the fight against HIV/AIDS in districts.

AMICALL national coordinator Kenneth Mwansa said there is need for government to
find other aways of channelling HIV/AIDS funds to districts instead of using line
ministries.

Mr. Mwansa said it was important  for government to deploy controlling officers in
all the 72 districts countrywide to monitor HIV/AIDS funds and ensure that there was
accountability in the process.

He was speaking at the just ended 51st Annual General Assembly on mainstreaming
HIV/AIDS in Local Government at Fairmount Hotel in Livingstone.

Mr. Mwansa said there was gross mismanagement of money meant for HIV/AIDS activities
in some ministries which needed urgent redress.

He added that under the current system of channelling money for HIV/AIDS fight in
ministries, most of the ordinary people did not benefit because the money did not
reach them.  

Mr. Mwansa said it was unfortunate that after 42 years of independence Zambia was
still struggling with matters like how it could mainstream HIV/AIDS policies in
local Government.
 

Pensioners welcome the increase in leaders perks

editor
-
1

Zambia National Pensioners Association (ZNPA) in Livingstone and Kazungula districts have welcomed the increase of personal emoluments for national leaders in the country.

ZNPA executive secretary Patrick Namakando said the increase is normal and legal
considering the ever rising economic factors in the country.

Mr. Namakando said it was justifiable to review the leaders  salaries from time to
time.

He however said it was wrong for policy makers in the country to ignore pensioners
by not increasing their monthly salaries that currently stand at K50, 000 per month.

Mr. Namakando said despite numerous cries from pensioners, lawmakers could only
fully justify their pay rise by ensuring that pensioners were not left behind.

He called on President Mwanawasa to come to their aid.   

Parliament last week approved the motion by Vice President to review leaders’
salaries. 

Konkola Rugby Club in jersies boost

editor
-
1

Bulk Mining Explosives (BME), a Chililabombwe based company, on Friday last week donated jerseys and boots worth over K10 million to Konkola Rugby Club.

And Government has challenged the private sector on the Copperbelt to take an active
role in sports development as the case was during the Zambia Consolidated Copper
Mines (ZCCM) era.

Speaking during the presentation of the jerseys and boots at Konkola Rugby Club
yesterday, Chililabombwe District Administrastive Officer Taphen Muloongo said
sports play a pivotal role in national development through healthy living, besides
providing entertainment.

Muloongo said it was saddening to note that Konkola Rugby Club, which has no
official sponsor, was the poorest club in the league despite being located in a
Province endowed wtih abundant natural resources.

He challenged other business houses in the district to emulate the gestrue shown by
BME.

He also called on the club management and players to take good care of the jerseys
and boots as well as reciprocate by winning games.

And Club chairperson Calistus Kaoma thanked BME for helping  the club saying the
club was the most poorly dressed despite being among the top eight teams int the
national rugby league.

Kaoma said the donation would contribute to the revival of rugby in the district and
encourage youths to take up sports, which contributes to the fight against social
vices such as drug abuse casual sex and child delinquency.

He was optimistic the firm would consider taking up full sponsorship of the club as
the donation marked the begining of a long lasting relationship.

Meanwhile BME International Business Manager Charles Hurly wished the rugby club
success in its sporting endeavours

Konkola Rugby Club faces many problems ranging from lack of funds, insurance cover,
transport and dilapidated infrastructure.

Government commends West farmers for high crop production

editor
-
21

Agriculture Permanent Secretary Dr. Sam Mundia has commended farmers in Western Province for harvesting 41,353 metric tonnes of maize compared to last year’s 32,487 metric tonnes.

Dr. Mundia has since appealed to farmers in the province to properly secure their
harvest to avoid it getting destroyed.

He has also appealed to farmers to consider planting drought resistant crops  to
boost food security in the province.

Dr. Mundia warned farmers not to sell the 60% subsided fertilizer.

Officiating at this year’s Mongu agriculture and commercial show, Mr Mundia  said
the selling of subsidized fertilizer by some farmers was impeding government efforts
to boost the agriculture industry in the country.

He said government through the Fertilizer Support Programme (FSP), was committed to
enhancing food production among the small scale farmers around the country.

Dr. Mundia also disclosed that government has allocated K110 million towards
irrigation farming at Namushakende Farm Institute in  Mongu.

He said irrigation was one of the government priorities in agriculture production.

Dr. Mundia further  disclosed that K63 million has been allocated to rejuvenate the
cashew industry in Western  province.

He also said government will next year carry out a tse-tse fli eradication campaign
in Sesheke and Shangombo districts by spraying an area of about 20,000 square km in
the two districts.

Dr. Mundia said  the project was part of the Pan-African tse-tse fly eradication
campaign.

Dr. Mundia  appealed to farmers to join or form cooperatives as they were a vehicle
for development in rural areas.

Zambia lose to Bostwana on penalties

editor
-
17

Zambia on Saturday lost 3-2 on post-match penalties away to Botswana in an international friendly played at Opara.

The game ended 0-0 before the outcome of the friendly match was decided on post-match penalties as requested by the hosts.

“I will dwell much on losing 3-2 penalties but the 0-0 draw which I think was a good result because we took a weakened side to face a very strong Botswana team who are preparing for the participation in the Cosafa Castle Cup next month,” Coach Patrick Phiri said after arriving this morning from Botswana at Lusaka International Airport.

Phiri added that the fact that team didn’t train together prior to facing Botswana and had one workout on Friday in Orapa before their match on Saturday proved it had potential depth.

Phiri said the 0-0 result despite penalty shootout with a team assembly at such short notice was satisfactory.

He went on to say that the whole purpose of Saturday’s game was purely for player identification and that the August 22 game against Rwanda would be approached differently.

“We plan to have all our foreign based players for the game against Rwanda because that match will be played on a Fifa calendar date for international friendly matches and it will very near our match against South Africa and so I will need to fine tune the team,” Phiri said.

Zambia face South Africa away in the two sides final Africa Cup Group B qualifier in Cape Town on September 8.

Levy meets former US President Clinton

editor
-
39

Former United States President Bill Clinton, who is in the country, today met President Mwanawasa at State House.

Mr. Clinton arrived at State House at 14.35 hours and was received by President Mwanawasa.

Mr Clinton signed the State House visitors book before he went into a closed door
meeting with President Mwanawasa that lasted for over one hour.

Health minister Dr Brian Chituwo, Foreign Affairs minister Mundia Sikatana, Zambia’s
ambassador to the United States Inonge Mbikusita-Lewanika and other senior
government officials were part of the Zambian delegation that met the former US
President at State House.

Mr. Clintons visit is part of his four nation African tour of South Africa, Malawi,
Zambia and Tanzania to oversee projects funded by the Clinton Foundation.

The former US leaders visit comes barely two weeks after the current US First Lady
Laura Bush visited Zambia.

The 42nd American President is scheduled to leave Zambia for Tanzania tomorrow
before returning home on Tuesday.

Mr. Clinton, 61, is largely viewed as the ‘first black president’ of America because
of his closeness to causes of African Americans and his interest in developing
Africa.

And Foreign Affairs minister Mundia Sikatana told ZANIS later in an interview that
Mr. Clinton’s visit to Zambia was of utmost importance to the relations between
Zambia and the United States of America.

Mr Sikatana said Mr Clinton’s visit is a sign that under President Mwanawasa’s
leadership, Zambia’s profile has risen tremendously on the global arena.

Mr. Sikatana said Zambia’s continued peaceful environment has resulted in visits by
eminent world leaders to the country.

The womans place is in the kitchen?

editor
-
285

This statement is usually thrown around to belittle or irritate the modern day woman. But let us look at it from a different non chauvinistic angle.

 There is no doubt that male and female are different. Genetically we are different, the ways our brains function are different and of course physically we are different.

If we are designed differently we should obviously have different roles to play.

 In Genesis God told Adam “In the sweat of thy face shall thou eat bread, till thou return to the ground. (Genesis 3:19) Here God was clearly instructing the man to earn a living. Note this instruction was given to man and not the woman. 

To the woman God said “Thy desire shall be unto thy husband and he shall rule over thee” The woman was given a different assignment that of helpmeet, mother, homemaker. (Genesis 3:16, Genesis 2:18). Since she was biologically created to bear children her role as mother is unquestionable. Her homemaking role is assumed as she must nurture her young and run the household to free her husband to function as provider.

 The male and female roles are different in function but equal in importance. The greatest problems in marriage occur when either of the couple fails to perform his or her duties, or when one steps over the boundaries and forcefully takes over the partners role.

 Is it a womans role to work outside the home? From the God given roles it seems not. A man is to be the leader, protector and provider of the home. It is a mans duty to be able to fully provide for the family. So perhaps, it is sin if man fails in his duties and thus forces the wife to look for work outside the home to supplement his earnings. A woman should be free from the stress of being a provider for her family and should be allowed to take care of her children as she pleases. Putting children in daycares or crèches is not the best environment for young children to thrive. A woman should work if she wants to but her primary obligation is to her husband and kids.She fails in her role as a mother if shes successful outside the home but her children are unrully, her home is a mess and her husband miserable.

Mwanawasa to attend L/stone Business meeting

editor
-
2

President Levy Mwanawasa is expected in Livingstone in Southern Province over the weekend to officially open and attend the Fifth Zambia International Business Advisory Council (ZIBAC) Conference.

According to a programme released by the Provincial administration in Livingstone
today and availed to ZANIS, Mr Mwanawasa is expected to arrive in Livingstone at 16
hours on Sunday and he will be met on arrival by Southern Province minister Joseph
Mulyata, MMD Provincial Chairperson Danniel Munkombwe and senior Government
officials.

Mr Mwanawasa is expected to officially open the ZIBAC conference on Monday, July 23.

The conference will deliberate on cross cutting issues including the status of the
Energy sector, telecommunications and world trends on the liberalisation of the International Gateway.

Other sectors that would be looked at include tourism, the status of implementation
of the Citizens Economic Empowernment Initiative, mining, commerce and the status of
infrastructure development.

Mr Mwanawasa will attend the conference until Tuesday when he will officially close it.

Brothels, poverty levels frustrates HIV/AIDS fight in Livingstone

editor
-
0

An HIV/AIDS advisor says the increase in the number of brothels and high Poverty levels currently prevailing in Livingstone is impacting negatively on the fight against pandemic. 

Livingstone District HIV AIDS Coordinating Advisor Julius Chilongoshi complained
that it had become very expensive to fight HIV/ AIDS in the district due to high
poverty levels which was forcing most residents to go into prostitution taking
advantage of the tourist inflows.

Speaking when members of the visiting Livingstone District HIV AIDS Taskforce (DATF)
paid a courtesy call on  Kitwe District Commissioner Macdonald Mtine in Kitwe today,
Mr Chilongoshi said most of the interventions that various stakeholders had put in
place to fight the diseases were not working out.

He said Livingstone was a tourist capital and at the same time a border town where
most of the people being targeted for these interventions were always in transit.

He added that DATF wanted to aggressively work with communities at  local level to
ensure that interventions put in place to fight the pandemic were working out.

And speaking earlier at the same meeting, Livingstone Provincial HIV AIDS
Coordinating Advisor Elizabeth Mtonga said the  HIV AIDS Prevalence rate in district
currently stood at 31% .

Mrs Mtonga said the DAFT and various stakeholders were working extra hard to ensure
that all the interventions put in place to prevent new infections and fight the
pandemic were working out.

She said Livingstone had a lot of challenges in the fight against HIV AIDS due to
the increase in the number of the people that were flocking in and out of the town.

She added that the group was in Kitwe so that they could exchange views and ideas
with the Kitwe DAFT on how the district was managing to implement and coordinate its
activities at Community Level.

Mrs Mtonga said Livingstone DATF had laready learnt that the Kitwe DATF  through
partnership with various Stakeholders had managed to raise over K350 million for its
activities.

And Kitwe District Commissioner Macdonald Mtine said the Kitwe DAFT through working
with various Chief Executive Officers in the private sector had managed to come up
with an effective programme to coordinate and monitor the implementation of
activities in addressing the pandemic.

Mr Mtine said it was important to scale down HIV/AIDS incidences at community level,
if any tangible results were to be recorded.

He paid tribute to Share for sponsoring the teams visit to Kitwe.

COMESA, SADC confer over fish industry harmonisation

editor
-
0

Government says the Common Market for Eastern and Southern Africa (COMESA) and Southern Africa Development Community (SADC) has started discussion on harmonisation of  polices  in the management of the fishing industry.

Agriculture and Co-opertives Minister Ben Kapita observed that the fish ban was not
effective because countries would enforce such mesaures at  different times.

With such discussions, Mr. Kapita was optimistic that the management of the industry
would now be effective.

The allocation of about K25.7 in this years budget, the Minister said would further
help adddress  transport woes which was an impediment in monitoring the exercise and
to undertake sensitisation  programmes.

He said Government would before embarking on the restocking exercise, educate people
on the danger of using bad fishing methods that have led to fish depletion in the
rivers.

The Minister said with resources available in this year’s budget, his ministry will
employ more staff to conduct sensitisation programmes.

He was giving a supplementary answer to Roan Member of Parliament (MP) Chishimba
Kabwili who asked Government on the effectiveness of the fish ban taking into
consideration that the programme was not conducted at the same time with countries
that share rivers with Zambia.

Earlier, Agriculture Deputy Minister Albert Mulongo said the ministry would
undertakerestocking of fish in Western Province after assessing the levels of fish
in baroste plains.

He was responding to Luena MP  Charles Milupi  who asked Government when it will
start the fish restocking in Western Province especially  in the Barotse plains.

Meanwhile, Local Government and Housing Minister Syliva Masebo told Parlimaent that
the National Housing Authority (NHA) built a total of 650 houses between 2004 to
2006.

She said the houses  which included low, medium and high costs were built at  Bennie
Mwiinga , Ibex Hill, Nyumba Yanga in Lusaka and Ndola Twapia township.

The Minister said although the programme is supposed to be countrywide, NHA had
started with the urban areas where there is demand for accomodation .

Ms. Masebo said as a measure to expedite the construction of houses, Government had
last year directed all local authorities to identify pieces of land  for the
construction of  houses.

She said Government has further come up with a munucipal bond through which it hopes more houses would be constructed.

MMD in Kafue asks Oasis Forum to partner with ZCID

editor
-
1

 The Movement for Multiparty Democracy (MMD) in Kafue district has called on the Oasis Forum to join hands with the Zambia Centre for inter party Dialogue (ZCID) to ensure that the constitutional making process is successfully implemented.

MMD Kafue Constituency Chairman, Samson Kabaso, told ZANIS in Kafue today that it
was being unreasonable for the forum to reject the process President Levy Mwanawasa
has initiated and every Zambian is supporting.

Mr Kabaso said it was surprising that the Oasis Forum, which advocates for poverty
reduction and prudent use of public resource for the good of Zambians, is in the
forefront of wanting government to spend more money which can be channeled to other
areas of need in the country.

Mr. Kabaso stated that the position of government is the best as it is trying to
ensure that resources, which are taxpayers’ money, are used wisely and benefit all
areas of the economy. 

He said the best the Oasis Forum can do is to partner with government by monitoring
the whole process so that transparency prevails and the constitution is enacted.

Mr. Kabaso disclosed that the MMD in the district has embarked on a programme of
sensitizing its members and residents to support government so that the constitution
is enacted within the shortest possible time. 

He said the constitution is for every Zambian and government has the right to chose
a process which is manageable and easily understood by everyone.

Meanwhile Mr. Kabaso has described the death of late MMD District Party Secretary
Teddy Zulu as a  loose to the party. 

He noted that  Mr. Zulu was a strong supporter of the party and was always there
whenever the party needed him.

Mr. Kabaso said the late Zulu died on Wednesday in the early hours of the morning
after an illness at Kafue district hospital.

Illegal settlers on Isangano National Park to face eviction

editor
-
1

 Government has stepped up efforts to remove people who have illegally settled in Isangano National Game Park on the boundaries between Chilubi and Luwingu districts in the Northern Province.

The long awaited move is aimed at paving way for the re-establishment and restocking
of the depleted National Park with Wild animals by the Zambia Wild Life Authority as
part of enhancing tourism in the province.

Provincial Planner Mukuka Chibwe confirmed to ZANIS in Kasama that Government has
lined up a number of activities aimed at implementing the Provincial Development
Coordinating Committee (PDCC) resolution which called for the removal of all illegal
settlers from Isangano national Park.

Mr. Chibwe said some of the activities involved are demarcation of the district
boundaries, identification and resettlement of illegal settlers from the National
Park.

He said a stakeholders meeting will soon be held involving Government officers from
Chilubi and Luwingu, ZAWA and the affected communities led by their traditional
leaders.

Recently, the Provincial Development Coordinating Committee chaired by Permanent
Secretary Joel Ngo directed the two districts to meet and resolve the Isangano
issues before the next PDCC meeting in August.

Mr. Ngo observed that the Isangano issues had been pending for sometime despite a
number of resolutions to resolve the issue.

The PS expressed concern at the reluctance of concerned parties to implement the
resolutions saying this should come to an immediate end.

And Chilubi Patriotic Front Member of Parliament Obby Chisala told ZANIS recently in
an interview that Government should have first resolved the boundary dispute between
the two districts before rushing to evict the illegal settlers.

Mr. Chisala who was District Commissioner when the Isangano issue arose said the
major obstacle to resolving the matter was the boundary dispute.

He said the People of Chilubi had no problem to move the people if they are told
that Isangano National Game Park was in their district.

Zambia to benefit from USS 21.6m animal disease fund

editor
-
0

Zambia is among the five countries that will benefit from the Southern African Development Community (SADC) programme for strengthening of institutions on management of trans-boundary animal diseases fund, amounting to US$21.6 million.

Agriculture and Cooperatives Minister Ben Kapita said other countries that would
benefit from the fund, which have already been approved, are Angola, Malawi,
Mozambique and Tanzania.

Zambia was left out in the earlier project which benefited Zimbabwe, Malawi and
Mozambique for the foot and mouth project.

The current project would commence soon.

He told ZANIS that the countries would use the money to create a programme on how to
combat livestock diseases in the region.

“It is easy to combat the diseases when the affected countries work together,” he said.

He said Zambia was buying medicines for foot and mouth disease from Botswana while
the medicine for the Contagious Bovine Pleural Pneumonia (CBPP) was acquired from
France.

He pointed out that it was cheaper to purchase drugs from Botswana than France.

On the issue of the cordon line being constructed along Zambia’s western borderline,
Mr. Kapita said the project would continue with an extension of 700 kilometres.

The cordon line aims at controlling the movement of stray animals from Angola and
Botswana into the country.

1...5,5785,5795,580...5,641Page 5,579 of 5,641

Company

Trending

Categories

© Lusaka Times