AFREXIMBANK INCLUDED IN SEM-10 INDEX IN MAURITIUS

 The Stock Exchange of Mauritius (SEM) has announced the inclusion of the African Export-Import Bank (Afreximbank) in the SEM-10 index.

An announcement posted on the SEM website on Wednesday listed Afreximbank among the SEM-10 Constituents for the third quarter starting 3 July 2019. Other companies on the list are: MCB Group Limited; IBL Ltd; SBM Holdings Ltd; Grit Real Estate Income Group Limited; ENL Limited (Ordinary A Shares); CIEL Limited; New Mauritius Hotels Limited; Rogers & Company Limited; and Lux Island Resorts Ltd.

The index tracks the performance of the 10 largest stocks on the SEM in terms of market capitalization and the 10 most liquid stocks in terms of average value traded and trading frequency during the preceding three months.

Being part of the SEM-10 index is expected to enhance Afreximbank’s visibility with local and international investors and, potentially, encourage institutional investors that track the index to include the Bank’s Depositary Receipts in their investment portfolios.

Ninety per cent of foreign investors’ transactions on SEM-listed stocks are targeted towards companies that are included in the SEM-10 index. Moreover, some of the larger companies in the index are tracked closely by global data vendors like Bloomberg, Factset and Refinitiv, as well as by global Index providers, such as S&P, Dow Jones, MSCI and FTSE.

The SEM-10 Index is subject to quarterly reviews and to remain in the index, companies need to ensure regular trading of their securities.

Afreximbank currently ranks as the SEM’s third best performing stock on a year-to-date basis in 2019, with a performance of 26.5 per cent.

FQM HIGHLIGHTS IMPORTANCE OF COMPETITIVE TAX REGIME

Mining firm believes Zambia’s tax regime increases the cost of operating and challenges the economic viability of existing mine operations

First Quantum Minerals says Zambia must implement a competitive and stable tax regime in order to attract new foreign investors and promote existing investments in the mining sector.

First Quantum Minerals Head of Government Affairs John Gladston says Zambia’s current mining tax regime poses a range of difficulties to the sector making it unattractive to potential investors when put alongside other copper mining countries.

FQM Mine site

He says government and the private sector should seek to create a framework in which a modern, progressive, developing commodity-based economy can be built; a scenario where investors vie to invest in Zambia.

Mr Gladston was speaking during a panel discussion on “establishing mutually beneficial fiscal regimes” at the 9th Zambia International Mining and Energy Conference and Exhibition (ZIMEC) in Lusaka.

This year’s conference was held under the theme “Creating an attractive investment framework to catalyse Zambia’s mining and energy sectors”.

MINING GIANT IRST QUANTUM MINERAL SUSPENDS $700K WATER PROJECT DUE TO COMMUNITY SNUB

First Quantum Minerals (FQM) has suspended plans for part of a US$700,000 community water project following attempts by community leaders to blame the mine for naturally occurring water quality issues.

The dispute between the company’s Trident Foundation and the local people highlights the wider issue of the extent to which the private sector should be obligated to conduct community development projects that are the responsibility of national and local government.

Naturally occurring iron in the geological structure of the area has been a visible challenge in water in these community boreholes for over 2-decades, long before mining activities commenced in the area.

This is a well-known challenge in areas with similar soils in Zambia, in particular, large parts of North-Western and Northern Provinces. Scientific analysis of the water confirmed the natural occurring iron, which causes water discolouration and a metallic taste.

The iron occurs in most of the local soils and is not as a result of mining activities. This is backed up by the extensive long-term groundwater monitored programmes initiated by the company before operations began.

 “First Quantum strives to do the right thing and support the communities that are our neighbours. This goes far beyond our legal obligations, but we are happy to provide this social investment on a goodwill basis,” said FQM Country Manager, General Kingsley Chinkuli.

“However, on this occasion, the prolonged attack on our work has gone too far. It is misguided, unfair, and damages our reputation as a good corporate citizen. On this basis, we have suspended investment in a water project until such time as we have the full support of all in the community. We will, however, continue with a component of the project, but only in directly affected communities of the project. We are currently reviewing our community development approach to avoid such unfair accusations in future for projects that are well-intended. Through its Trident Foundation, the company budgeted to invest ~US$700,000 in an initiative to upgrade community water systems in Kalumbila District in work being co-ordinated in consultation with Senior Chief Musele, a development taskforce and a sub-committee specifically set up to recommend improvements to water access.

“First Quantum Minerals has a clear policy of supporting the communities surrounding its mines. It allocates millions of dollars every year to help ensure people have the basic needs and tools with which they can build sustainable livelihoods for themselves,” said General Chinkuli.

The initial plans to upgrade water facilities were the foundation’s humanitarian response to recent concerns by the community about naturally occurring water quality issues and flooding.

Earlier in the year, the company came to the aid of people in Musele and Kawelanga village after a flooded graveyard threatened the community’s water supply.

The mining firm believes access to safe, clean water is the number one priority for community development. Water is a basic human need, and should always be prioritised over other forms of development work.

PROFLIGHT EXPANDS FLEET WITH A NEW 50-SEAT AIRCRAFT.

Proflight Zambia has expanded its fleet with the purchase of a 50-seat Dash 8-300 turbo aircraft, as part of its continuing drive to build market share in the regional aviation sector.

The Zambian owned and operate airline expects to take delivery of the aircraft in Zambia in the next few months following delivery from Canada, which is the headquarters of the aircraft manufacturer, Bombardier Aerospace.

The purchase means Proflight joins the league of top-tier regional airlines operating the Dash 8, including Ethiopian Airlines, QantasLink, Flybe, SA Express and Cemair in South Africa.

The investment is the latest step in Proflight’s strategy of buying bigger planes that can accommodate more passengers, realising economies of scale and enabling it to operate more efficiently.

It currently operates a 50-seater Bombardier CRJ-100 jet, three 29-seater Jetstream 41 aircraft and two C208 Caravans, all of which are Zambian registered with the Zambia Civil Aviation Authority (ZCAA).

“The new Dash 8-300 aircraft will increase Proflight’s capacity and enable us to expand our network of destinations throughout the southern African market, explained Proflight Director of Flight Operations Capt. Gerald Tembo.

Proflight boosting its fleet with the Dash 8 increases the opportunities for the airline to open more destinations, both domestically and internationally, adding to its three existing regional routes, from Lusaka to Durban, Harare and Lilongwe.

The new aircraft will also free up the productive time of Proflight’s 50-seater CRJ 100 Jet aircraft, which will also allow the airline to look at more new routes domestically and regionally.

A Qantas Dash 8 aircraft similar to that being
introduced by Proflight Zambia. Credit Ryan Fletcher 

Flights to Johannesburg, Gabon, Entebbe and Dar-es-Salaam are all being evaluated by the airline, which celebrates 27 years of operation this year.

The Dash 8 type covers a family of twin turbo prop aircraft, ranging from 37 seats to 78 seats. Proflight’s new Dash 8 is a 50-passenger seat aircraft.

The interior of the Dash 8 is very similar to that of Proflight’s existing 50-seat CRJ 100 jet, which is also used on its Ndola and Livingstone services.

Zambia has a long history of using Canadian aircraft. The airline’s CRJ plane is also manufactured by Bombardier in Canada.

NISSAN TO UNVEIL NEW NISSAN X-TRAIL ON THE ZAMBIAN MARKET.

 NISSAN GROUP is today March 22, 2018 set to unveil a new Nissan X-Trail brand on the Zambian market.

The company says the new Nissan X-Trail is a perfect example of Nissan’s approach to developing crossover vehicles with exceptional qualities.

The company says the new brand will give customers space to broaden their horizons with the peace of mind that comes with new innovative features to keep them and their family safe.

The new Nissan X-Trail is a luxurious, state-of-the-art crossover with top-quality engineering and latest technology.

Meanwhile NISSAN GROUP AFRICA says the automotive industry has potential for growth as demand for vehicles is set to rise in coming years on the African continent.

Nissan Group of Africa says it is for this reason it is expanding its operations on the continent and continues its ongoing investments with the opening of its third showroom in Zambia.

“With a great deal of help from Tim Jaques, the Managing Director of our partner, MOTUS Africa, Nissan is reinforcing its strategy of leading the way into high-potential growth markets with the opening of a new showroom in Zambia,” said Liz Segal, Nissan Group of Africa General Manager of Sub-Saharan Africa Sales.

“Among the 54 countries in Africa, 18 have a higher GDP per capita than India, at $1,500 and eight more African countries have a GDP per capita of more than $1,000. Among the top 20 countries that are forecast to have the highest GDP growth rate in the world this year, 10 are in Africa,” said Segal.

African markets are among the 160 countries worldwide where Nissan offers products and services. The company also has manufacturing facilities in 20 countries, including two in Sub-Saharan Africa – South Africa and Nigeria.

“The most important thing to understand about Africa is that it’s not one country. Every country on this continent is unique and operates in a distinct fashion, and one needs to adapt to each country’s specific way of doing business. That’s why Nissan takes pride in this expansion in Zambia because it’s the result of our deep understanding of each of the markets we operate in,” said Segal.

 “We are in partnership with Nissan in Zambia, Malawi, Tanzania and Kenya because we believe in the growth potential of the African automotive sector. We would like to see all Africans having access to respected vehicle brands such as Nissan and we’re constantly working on creating new avenues of access,” said Jaques.

ZAMBIA REVISES 2018 COPPER FORECAST BY 17.2% TO 1MILLION METRIC TONS

Africa’s second largest copper producer Zambia has revised its 2018 copper target to 1million metric tons representing a 17.2% increase from 2017 levels.

The Ministry of mines has based its revised projections on current and forecasted improved power generation capacity and motivation fueled by a higher copper price on the London Metal Exchange.

Zambia produced 14.3% more copper in 2017 to 853,789 metric tons exceeding the expected 850,000 metric tons.

Zambia rally’s behind DRC which is Africa’s number one having produced 6.06% higher output to 1.09million metric tons in 2017.

DRC expected to produce higher volumes after discovery of a massive deposits in the Kakula Kamoa area operated by Ivanhoe mines owned by Friedman.

Ministry of Mines permanent secretary Paul Chanda is optimistic that the rising demand of electric cars whose major ingredient is copper coming on the market, demand for the metal is expected to remain high.

He further said this was a major big incentive for mining companies to increase the production of the commodity.

Chanda said projects such as a new shaft by Mopani Copper Mines (MCM) owned by Glencore and an expansion project by China Non-Ferrous Africa Mining (NFCA) would start production this year and further boost copper output in 2018 and beyond.

Global demand is expected to rise global copper production will spike over the next decade as rising prices and increasing demand from the electric vehicles sector encourage project development, a new reports shows.

Output for the red metal worldwide will grow an average annual rate of 3.6% over 2018 – 2027 thanks to a number of major projects come online, particularly in Peru and Australia.

As a result, it is anticipated that global copper output will climb from 20.4 million tonnes this year to 28 million tonnes by 2027.

Exavators working at Kasanshi mine.

Other mining companies operating in Zambia include Canada’s First Quantum Minerals, Barrick Gold Corp and London-listed Vedanta Resources.

Copper is trading for USD6, 755 metric ton on the London Metal Exchange a 1.44% decline ahead of the US Fed meeting.

GOOD MINING FIRM SAYS IT IS NOT ONLY ABOUT PROFITS BUT THE PEOPLE ALSO

Randgold Resources Chief Executive Officer Mark Bristow has tipped African governments to seek an equitable share in mining projects.

Mr. Bristow says the equitable rate should be around a 50:50 basis of mining revenues after the recouping of the capital cost of building the mine.

Randgold is a mining giant operating five gold mines in three African countries – Mali, Côte d’Ivoire (Ivory Coast) and the Democratic Republic of Congo.

Mr. Bristow says a successful mining industry needs a committed partnership that recognizes the realities of mining. 

Mr. Bristow says a country’s mineral resources are the property of the people, with the government acting as their stewards.

He was speaking at a two-day mining Indaba held in Johannesburg last week.

He says most African countries were endowed with great mineral resources, but that this was no guarantee of wealth creation that benefits all.

He cited the Democratic Republic of Congo and Venezuela as examples of resource-rich countries the former in minerals, the latter in oil – where people were poor and had not benefited from the resource wealth.

This is according to article published on the Mining for Zambia website today.

MCM INVESTS 1.3 BILLION DOLLARS IN NEW OPERATIONS.

Mopani Copper Mines has invested US$ 1.3 billion investment in its new mining operations in Zambia.

Company Board Chairman Moses Chilangwa says the investment will go towards capital projects that include sinking and equipping three new shafts.

The news shaft are Synclinorium and Mindolo deep in Kitwe, and the Mufulira deep shaft.

Speaking at a media briefing this morning, Mr Chilangwa says the new shafts are expected to come online by the end of 2018 and will double Mopani’s output from the current 3.8 million tons of copper ore hoisted per annum to 9 million tons by 2020.

He has however, acknowledged that the past three years have been challenging for Mopani and all stakeholders in the industry as a result of low commodity prices on the international market coupled with the energy deficit.

Mr. Chilangwa has however, stated that despite the challenges being faced, Mopani remains resolute and fully committed to all its social responsibility programmes in communities around the country.

He adds that over the past three years Mopani has invested more than 1 billion United States dollars in its operations to recapitalize its mining operations and extend the lifespan of its mines by a further 25 to 30 years.

Meanwhile Zambia Chamber of Mines says it is negatively impacted with the introduction of the SI 76 which had led to the mining firms delay in collecting raw materials such as copper concentrates.

Chamber of Mines President Nathan Chishimba says restricting transportation hours impacting on commercial production as mines will not get their concentrates on time.

Mr Chishimba explained that in town like Solwezi truck drivers are being subjected to the heavy traffic of the day which the industry had been avoiding by scheduling their program.

Mr Chishimba said the mining industry was waiting for feedback from the minister.

ZAMBIAN BREWERIES SLASHES BEER PRICES OF MOSI AND CASTLE

Zambian Breweries has reduced the price of its Mosi and Castle lager amid growing confidence in economic stability.

The recommended retail price of a 375ml bottle of both lagers is now K7, reduced from K7.50.

Zambian Breweries Country Director Annabelle Degroot says the cut in price of the nation’s favourite beers was a response to the improved inflation rate and several months of a stable exchange rate.

Ms. Degroot has thanked and commended the government for implementing measures to allow this level of stability.

“In response to government’s efforts to maintain a stable business environment, we are committed to retaining the affordability of our products,” she said.

Zambian Breweries expects the price reduction to encourage drinkers to move away from cheap illegally brewed high-alcohol beverages that pose a danger to public safety as well as denying government tax revenue.

The Country Director explained that when beer prices drop, overall alcohol consumption does not increase but rather consumers tend to move away from cheaper higher alcohol options with an average ABV (alcohol by volume) of 43 percent, back into clear beer with an average ABV of 4.5 percent. This is an important driver of responsible alcohol consumption and government revenue collection.

The decision is also aimed at stimulating volume growth, tax revenue growth and its associated positive impact on investment, agriculture and employment.

ZAMBIAN GOVERNMENT TO DEVELOP A STRONG TECHNOLOGY DIVERSIFIED ECONOMY

Zambia’s Commerce Minister Margret Mwanakatwe says there is need to develop a strong technology-based diversified and export focused manufacturing sector which is self-sustaining as part of the country’s development strategy.

Speaking at the Eastern Province symposium on development in Chipata district this morning, Ms Mwanakatwe said the country should also be dynamic, resilient to external shocks and competitive with effective entities that add value to locally abundant natural resources.

She said to this effect, Government will facilitate the up scaling of manufacturing sector towards higher value addition, and upgrade capacity in the provision of related services.

Ms. Mwanakatwe noted that government has placed emphasis on transforming industrial businesses and complementary services into strong value creating entities.

She noted that locally available resources are not sufficient to finance Zambia’s development appetite saying both domestic and foreign direct investment remain important to the country’s development agenda.

She also stated that  Zambia is focusing on value addition of locally produced goods for  increased domestic and foreign  market  earnings, and development for  both hard and soft infrastructure such as roads, e-commerce and border facilities.

The Minister of commerce also stated that in order to promote industrialization, Government accessed US$50 for lending to Micro Small and Medium Enterprise (MSMEs) to enable them contribute to wealth and creation of employment.

“Through the Citizen Economic Empowerment (CEEC,) government is providing empowerment funds, technical support and mentorship programmes. My Ministry has also been encouraging MSMEs to tailored financial products,” she said.

And Minister of Agriculture Dora Siliya said that agriculture there is need to address threats that affects the agriculture sector for improved agriculture industry.

Ms Siliya noted that agriculture is one of the key sectors that contribute to the country’s job creation.

“Government is to this effect, putting in place stringent measures to ensure that challenges faced during the distribution of inputs in the 2016-2017 farming season are addressed. There is also need to increase production in the agriculture industry especially at household level,” She said.

The Minister further called on farmers to always consider farming as a business by embracing value addition to their produce and engaging in crop diversification which is vital in improving income generation at household level.

Meanwhile, Eastern Province Minister Makebi Zulu explained that the aim of the symposium is to bring stakeholders together and identify bottlenecks that affect the development agenda for the province.

Mr. Zulu said being an agro based and the largest producer of commodities such as maize, groundnuts and cotton, the province is still importing most of its finished products such as mealie meal and peanut butter.

“We are keen to promote and localize improved value chains in agro processing and its infrastructure development through the creation of an enabling environment for private enterprise to thrive and promote sustainable public private partnerships,” he said.

He noted that Government looks forward to a time when the farmers will be self-sustaining through improved systems of out grower schemes, mechanization of farming, best farming methods and crop diversification through extension services and promotion of agro processing.

And Paramount Chief Mpezeni of the Ngoni people of Eastern Province said traditional leaders in the province have committed themselves to do away with negative traditional norm and practices that hinder the development process.

Speaking through chief Madzimaweof the Ngoni people of Chipata district, Paramount chief Mpezeni said that chiefs are happy that government recognizes traditional leaders as partners in national development saying there is need for government to embrace and co-opt all levels of leadership for sustainable development.

INSURANCE PENETRATION GROWS IN ZAMBIA.

Insurers Association of Zambia president Paul Nkhoma has indicated that insurance market has recorded a 19 percent growth in 2016 compared to 17 percent in 2015.

Mr. Nkhoma says the market premiums are estimated to reach K2.5billion, with general insurance premiums contributing K1.7billion with the life premiums contributing 864 million.

In a statement He says for the first time in over a decade the general insurance premiums have grown at a faster rate than the life insurance premiums posting a growth of 23% (2015: 14%), while the life insurance premiums growth was only at 12% (2015:14).

Mr. Nkhoma says the contributions of insurance premiums to the country’s GDP however continue to be dismal contributing about 1.2%.

The African average is 3.5%, meaning that the premiums are supposed to be around K7 billion for the country to catch up with the African average

The Insurers Association of Zambia has revealed that only 2.8 percent of adult Zambians are insured.

ZAMBIA DROPS 4 PLACES ON EASE OF DOING BUSINESS INDEX.

Zambia has dropped 4 places on the 2017 Ease of Doing Business Index, ranking 9^th in Africa, 5^th in SADC and COMESA respectively.

This has culminated into Zambia ranking 98 out of 190 countries worldwide.

And Ministry of Commence, Trade and Industry Permanent secretary Kayula Siame says there is need to build a strong partnership between government and the private sector.

Ms. Kayula says government alone cannot be in position to address the challenges associated with the drop in the ranking.

She was speaking during the preparatory dialogue breakfast meeting with the private sector ahead of the Ease of Doing Business Initiative Conference to be hosted by Zambia.

The conference will be held from 16^th to 18^th May 2017 in Livingstone’s Avani Hotel under the theme ‘Doing Business Reforms for Industrialization, Value Addition and Job Creation.

And Ms. Kayula says the forthcoming conference will create a platform for strengthening partnership between government and the private sector as well as appreciate the methodo0lgy used in Ease of Doing Business ranking.

Ministry of Commence, Trade and Industry Permanent secretary Kayula Siame says private sector contributions to sustainable development hold key to driving Zambia’s growth.

Meanwhile Ms. Siame says there is need to improve business environment through replication of best practices, best reforms and ideas as they are a key drivers of the Zambian economy.

ZAMBIA BREWERIES SLASH BEER PRICES.

Zambian Breweries has reduced the recommended retail price of its clear beer in the run-up to the festive season.

The company has announced promotional savings on the recommended retail price of its products of between 50 ngwee and K2 in recognition of the current tough economic climate for consumers.

Castle, Mosi, Carling Black Label 750ml packs will now cost K10 instead of the previous price of K12; the Eagle Lager 750ml pack will be sold for K6, reduced from the previous price of K8, while the Eagle Lager 375ml size will be priced at K4 from K4.50.

“We have dropped the price of beer as a summertime promotion. We do recognise the tough times people are going through and as we are now in the festive period, we thought we should reduce the prices of the beers as a Christmas and New Year present to our valued customers,” said managing director Annabelle Degroot, announcing the cut in beer price today.

She also confirmed that there are plenty of stocks of all the company’s products countrywide and there should be no reason for panic-buying.

“We would, however, like to caution people to drink responsibly during the festive season. They should take care, avoid drink-driving and find alternative means of transport in case they decide to drink,” Mrs Degroot said.

ZAMBIAN BREWERIES CALLS FOR RESPONSIBLE DRINKING DURING FESTIVITIES.

Zambian Breweries has backed calls for motorists to be mindful of the dangers of drinking and driving during the festive season, and urged the public to drink responsibly.
Managing director Anabelle Degroot warned that irresponsible drinking and drink-driving posed a danger not only to those drinking the alcohol but also to those who were not.
“We understand that during the Christmas and New Year period, people enjoy partying. We do urge them not to drink and drive, however. Anyone planning to consume alcohol should make alternative transport arrangements such as booking a taxi or letting someone who has abstained from drinking drive them instead,” she said.

Historically, the festive season has seen an increase in road accidents, some of which can be attributed to drink-driving.
“Driving while drunk can cause poor judgement on the road. It is important that precautionary measures are in place whenever people are celebrating during the festive season,” she advised. “Even though we are in the business of beer production, we don’t want lives to be lost as a result of carelessness or drink-driving,” she added.
As well as advising the public to be cautious as they conduct their business during the festive period, Mrs Degroot said that Zambian Breweries has been working with the Road Transport and Safety Agency (RTSA) by providing breathalysers for the organisation to help curb drink-driving.
Zambian Breweries has also advised bar owners and bar tenders to ensure that they do not admit anyone under age or sell alcohol to them.
Dr Michael Chanda, chairman of the company’s sales and marketing compliance committee (SMCC), said bar owners should follow the Liquor Licencing Act: “It is clearly stipulated who should buy beer. Bar owners also have a right not to sell beer to a customer who has clearly had too much to drink,” he said.

He added that as much as the law was there to regulate, it was the personal responsibility of each individual to drink responsibly.
“We also advise parents to ensure that their children, who are legally under age, do not drink alcohol,” he said. “We know the festive season is a big celebration but our message is still the same: don’t drink and drive.”

ZAMBIA COMMENCES TO DEVELOP CAPACITY TO IMPLEMENT NUCLEAR TECHNOLOGY.

The Zambia government has signed 3 memorandum of understanding and one project development agreement with Russia signifying the commencement of the process to develop capacity to implement nuclear science.

The cooperation will among other things develop a strategy for nuclear plant within 10 to 15 years which will produce at least 2 Giga watts of electricity, product isotopes for diagnosis, cancer treatment and irradiation of food.

The agreement paves way for the Russian Federation to assist Zambia with the development of policies, programs, institutions and capacity strengthening to develop nuclear energy for peaceful purpose over a 10to 15 year horizon.

And Deputy Director General of ROSATOM of the Russian Federation Nikolay Spassky, disclosed that in the MOUs signed the Russian federation will assist Zambia construct a centre for nuclear science and technology that will consist of a nuclear installations.

Mr. Spassky says projects of such magnitude need support from all citizens by creating public confidence and acceptance through eliminating myths about nuclear energy.

And Ministry of Information and Broadcasting Services Permanent Secretary Godfrey Malama who signed one of the agreements said government expects communication agents to effectively convey messages that will positively impact on citizens for the successful development of the nuclear program.

Mr. Malama says the agreement is aimed at enhancing public awareness and acceptance of nuclear energy in the country using the experience and expertise of the Russian Federation.

The First Memorandum of Understanding signed between the ministry of Higher Education and ROSATOM on cooperation in training and skills development in the fields of nuclear,  will allow Russian Federation assist Zambia in developing an integrated country Human resource plan for personnel for Nuclear Power Plant.

And permanent secretary in the ministry of higher education Owen Mugemezulu says Zambia will develop a robust program in the development of its human resource capacity through training and development of various fields of applied nuclear science and technology.

The second agreement between the Ministry of Health and ROSTECHNADZOR will strengthen cooperation in Nuclear Safety and regulation.

This MoU will pave way for the Russian Federation to assist Zambia to enhance the Capacity of the Radiation Protection Authority by developing a regulatory framework appropriate for heightened nuclear and radiation activities.

The third MoU is between the Ministry of Information and Broadcasting Services and ROSATOM on cooperation in enhancement of public awareness of nuclear energy in Zambia.

Under this agreement the Russian Federation will help with the communication strategy to assist the Zambian government address the myths related to the use of nuclear energy over climate concerns.

Meanwhile secretary to the cabinet Rowland Msiska who witnessed the signing ceremony said the development turns into actuality the pronouncement by President Edgar Lungu during the opening of parliament that his administration will pursue nuclear technology as part of a diversified sustainable energy mix to power Zambia’s economy.

Dr. Msiska told journalists shortly after the signing ceremony that once the program is implemented load shedding will be a thing of past adding that Zambia will be the main electricity exporting hub in the region.

ZAMBIA COMMENCES TO DEVELOP CAPACITY TO IMPLEMENT NUCLEAR TECHNOLOGY.

The Zambia Government has signed 3 memorandum of understanding and one project development agreement with Russia signifying the commencement of the process to develop capacity to implement nuclear science.

The cooperation will among other things develop a strategy for nuclear plant within 10 to 15 years which will produce at least 2 Giga watts of electricity, product isotopes for diagnosis, cancer treatment and irradiation of food.

The agreement paves way for the Russian Federation to assist Zambia with the development of policies, programs, institutions and capacity strengthening to develop nuclear energy for peaceful purpose over a 10 to 15 year horizon.

And Deputy Director General of ROSATOM of the Russian Federation Nikolay Spassky, disclosed that in the MOUs signed the Russian federation will assist Zambia construct a centre for nuclear science and technology that will consist of a nuclear installations.

Mr. Spassky says projects of such magnitude need support from all citizens by creating public confidence and acceptance through eliminating myths about nuclear energy.

And Ministry of Information and Broadcasting Services Permanent Secretary Godfrey Malama who signed one of the agreements said government expects communication agents to effectively convey messages that will positively impact on citizens for the successful development of the nuclear program.

Mr. Malama says the agreement is aimed at enhancing public awareness and acceptance of nuclear energy in the country using the experience and expertise of the Russian Federation.

The First Memorandum of Understanding signed between the ministry of Higher Education and ROSATOM on cooperation in training and skills development in the fields of nuclear,  will allow Russian Federation assist Zambia in developing an integrated country Human resource plan for personnel for Nuclear Power Plant.

And permanent secretary in the ministry of higher education Owen Mugemezulu says Zambia will develop a robust program in the development of its human resource capacity through training and development of various fields of applied nuclear science and technology.

The second agreement between the Ministry of Health and ROSTECHNADZOR will strengthen cooperation in Nuclear Safety and regulation.

This MoU will pave way for the Russian Federation to assist Zambia to enhance the Capacity of the Radiation Protection Authority by developing a regulatory framework appropriate for heightened nuclear and radiation activities.

The third MoU is between the Ministry of Information and Broadcasting Services and ROSATOM on cooperation in enhancement of public awareness of nuclear energy in Zambia.

Under this agreement the Russian Federation will help with the communication strategy to assist the Zambian government address the myths related to the use of nuclear energy over climate concerns.

Meanwhile secretary to the cabinet Rowland Msiska who witnessed the signing ceremony said the development turns into actuality the pronouncement by President Edgar Lungu during the opening of parliament that his administration will pursue nuclear technology as part of a diversified sustainable energy mix to power Zambia’s economy.

Dr. Msiska told journalists shortly after the signing ceremony that once the program is implemented load shedding will be a thing of past adding that Zambia will be the main electricity exporting hub in the region.

ZAMBIA BREWERIES RESUME OPERATIONS AFTER ONE DAY CLOSURE.

Zambian Breweries has resumed normal operations at its Mungwi Road plant in Lusaka after prompt action by government authorities to resolve problems with fuel tankers parking dangerously close to the company’s premises.

Zambian Breweries was forced to close operations and evacuate staff at its factory in Lusaka’s main industrial area November 9 after record numbers of highly explosive fuel tankers parked on the roads surrounding it premises.

More than 100 petrol tankers lined Mungwi Road, and surrounding side roads on 9^th November, double-parking on one side of the road and single parking on the other side, just metres from the company’s boundary.

Government initiated measures to resolve the situation, but in the meantime the company had deployed security personnel to patrol the tankers and stamp out any cooking fires.
Zambian Breweries Managing Director Annabelle Degroot has praised government for its swift response after the brewery declared a temporary one-day closure amid concerns about the trucks parked on the roads next to its factory.
“We have been informed by the Ministry of Energy and Water Development that 115 identified trucks will be diverted to Ndola Fuel Terminal in order to ease congestion in Lusaka. I would like to thank the ministry for their extremely prompt and decisive action to safeguard life and property,” said Mrs Degroot.
“This is a difficult issue and the authorities have worked diligently to balance competing interests and prioritise the safety of the people working in businesses in the industrial area,” she added.
Zambian Breweries was confident that a long-term solution to the issue of parked fuel tankers was being worked on as a matter of urgency.

The development sent shivers to residents in fear that the popular Mosi, Castle Lite and Castle was going to runout of out stock.

NEW ZAMBIA BREWERIES READY FOR COMMISSIONING.

Zambian Breweries’ US$33 million maltings plant is ready for commissioning following the successful testing of its barley acceptance systems at the Lusaka South Multi Facility Economic Zone (LS-MFEZ).
The Independence Day run-through reaffirmed the company’s commitment to being a long-term investment partner with the government, said Director of Corporate Affairs Ezekiel Sekele.
The plant is part of the group’s continuing investment plan in Zambia and is set to boost purchases of barley from local farmers as a key ingredient in the company’s popular Mosi, Castle and Castle Lite lagers.
The company’s multi-million dollar commitment to the maltings plant is part of the group’s wider commitment to investment in Zambia, spurred by the government’s reduction in excise tax on clear beer in last year’s Budget.
In the last five years Zambian Breweries, National Breweries and Heinrich’s Syndicate, which are now part of AB InBev, have invested more than US$400 million in long-term capital projects.

Workers celebrating the first testing of the new plant

The group’s investments are helping it to grow production volumes, thus increasing employment opportunities, enabling the company to buy more agricultural commodities such as barley, maize, sorghum and cassava from local suppliers and boost sales, thus increasing overall tax revenue to the government.
The new facility – the first of its kind in Zambia - will enable locally grown barley to be processed into malt, the main ingredient for clear beer, for the first time in Zambia, creating more business for farmer suppliers who provide the brewery with barley thus spurring economic growth, job creation and national development, explained Managing Director Annabelle Degroot.
“The future of Zambia and its economic development matters deeply to us. The plant will enable Zambian Breweries to add value within Zambia to barley – all of which is bought from local farmers in Zambia. Previously, we used to export our barley to neighbouring Zimbabwe for malting and then import it back to Zambia,” said Ms Degroot.
“Our recent upswing in investment has been as a direct result of the confidence we have in our business, and in Zambia, following the government’s move to reduce excise tax on clear beer from 60 percent to 40 percent, making it comparable to the region’s average rate and thus stimulating demand and enabling the business to grow volumes,” she added.

New plant

The plant has a maximum capacity of 15,000 tonnes of finished malt per year, creating a surplus over the brewery’s current demand of 10,000 tonnes and thus producing excess supply that can be exported.
The barley will be stored in ten massive 1,500 tonne-silos, each 32 metres high, which involved the country’s largest single pour of concrete – 1,800 cubic metres – for their foundations.
The company is now awaiting the official commissioning of the plant by the government.

ZIPAR/FSD ZAMBIA TRAIN OVER 25 BUSINESS JOURNAISTS IN LUSAKA.
Zambia Institute for Policy Analysis and Research (ZIPAR) has advised journalists to take interest in economic policy development to facilitate effective policy dialogue debate that can enhance economic governance in the country.

And ZIPAR has pledged to promote economic and financial literacy to help citizens understand the liberalized economy and opportunities offered by recognizing opportunities and defining risks associated with such potential investment.

Speaking at the official opening of the Master Class for Business Journalists Financial Inclusion and Economic Literacy, ZIPAR Executive Director Pamela Nakamba Kabaso says journalists need basic understanding of economic and financial concepts to enhance the in-depth and quality of news coverage.

Dr. Nakamba Kabaso says her organization want to promote in-depth and analytical news reporting that can stimulate healthy economic policy debated which influence policy direction. 

She explained that the move to equip journalists with relevant economic and financial literacy because media creates an efficient and effective avenue through which masses can learn economics and finance.

ZIPAR Director Dr. Pamela Nakamba Kabaso

She further notes that the media has the capacity to make citizens have an understanding of economics in order to not only report facts but interact better with information in order to educate the public.

Meanwhile Dr. Nakamba Kabaso says there is need to promote economic and financial literacy to help citizens understand the liberalized economy and opportunities offered by recognizing opportunities and defining risks associated with such potential investment.

She noted that lack of clear understanding on liberalized economy and new opportunities on the market has resulted in an influx of foreign investors who are equipped with economic know how have reaped abundantly from the conducive economic environment.

She adds that Zambia has over the decades experienced high economic growth but achieved less than satisfactory reduction in poverty whereas inequality has increased.

The Zambia Institute for Policy Analysis and Research (ZIPAR) and Financial Sector Deepening Zambia has organized a 5 days Master Class Training for Business Journalists on Financial Inclusion and Economic Literacy in Lusaka.