AGRICULTURE SHOW SOCIETY, AFRICAST LAUNCH SMARTSHOW APP.

AFRICAST Events Technology and the Agriculture and Commercial Society of Zambia developed a Mobile Application on Google play store duped “Smartshow event technology” a tool aimed at creating easier navigation for show goers at the 90th Agriculture and Commercial Show.

The app which is made its debut at this year’s edition will enable show goers view all exhibitors’ stands, view daily events programs as well as see a list of awards and participants.

The smart mobile application tool is an invention of Africast Conference and exhibition managers the company which has investment in Botswana Zimbabwe and South Africa, designed the mobile application to assist, visitors to navigate displays, without hindrances.

The home grown, mobile application has challenged the global status quo which has over the years witnessed dominance of software development business led by Indian and South African ICT firms, who in addition to manufacturing their own ranges, also produce on behalf of international firms.

And AFRICAST, Social Media Communication specialist Ketiwe Zulu Millennium radio Business News that the unique electronic invention, shares pertinent data with the users such as real time programs and speaker among other features, during the event.

Ms. Zulu said an event planning company, Africast developed the application to help show goers save time during planning and get users more independent and organize their schedule.

 “It reduces the element of over reliance on local experts for directions, this is a very important tool in a media personnel’s tool kit, it allows for easy planning and time saving during busy moments during the events, especially for journalist who are bound to beat deadlines,” Ms. Zulu said.

Khetiwe Zulu

Ms. Zulu said the development came at the a right time when the Show theme is Managing Environment for Growth because it will help the show society in innovation and technology.

She said the show society can only succeed in managing environment for growth they invest in technology.

 “Smartshow is about good planning, it cuts out that manual work, such as writing and wasting both ink and paper. It is just an environmental friendly product offering electronic services that provides easy communication on time, with provision of maps, events program and speakers among other factors,” said Ms. Zulu.

However, the mobile application is a buildup on the other complimenting events management provision but said it was facing challenges such as unliable internet provision.

And show goers expressed excitement at the new innovation between Africast and show society which is designed to assist, visitors to navigate displays, without hindrances.

The Agricultural and Commercial Society of Zambia has in the last 90 years created a platform for both service providers and consumers to interact and exchange ideas.

The Show provides a forum for exchange in agriculture, agribusiness, trade information and commercial as well as creating opportunities to show case emerging farming technologies, product innovation and value addition

AFRICAN EXPORT-IMPORT BANK RECORDS 25 PERCENT GROWTH.

The African Export-Import Bank (Afreximbank) President Benedict Oramah has announced the achieved a record of 25 per cent rise in its net income from 2014 to 2015, taking in $134 million in 2015 compared to $107 million in 2014.

In his report to the 23rd Annual General Meeting of Shareholders (AGM) of the Bank today, Dr. Oramah said that the stellar performance by the Bank could be attributed to a solid loans growth, which saw a 40 per cent rise from December 2014 to reach a total of $6.1 billion in December 2015.

He told the shareholders that Afreximbank’s assets and sources of income had been well diversified and that they key financial ratios were in line with plans.

Dr. Oramah gave other key 2015 performance figures to include: return on equity and net interest margin at 11.5 per cent and 3.6 per cent respectively, largely on account of larger proportion of lower-priced cash-collateralized loans; improvement in asset quality with non-performing loans ratio down to 2.8 per cent from 3.8 per cent in 2014; operational efficiency at historical levels with cost to income ratio averaging 21 per cent; and liquidity coverage ratio that was above the Basle minimum of 100 per cent, and, in fact, averaged more than 200 per cent.

“On the strength of improved capitalization and financial performance, Moody’s and Fitch Ratings revised the Bank’s ratings outlook from negative to stable in 2015,” continued the President, who added that, during the year, the Bank made what was perhaps the largest syndicated loan issue by an African commercial bank, raising in excess of $1 billion.

He said that the Bank had succeeded in markedly diversifying the sources of its liability by deepening relationship with African central banks, such that African sources now account for more than 40 percent of its total non-equity liabilities.

Dr. Oramah announced that through the Countercyclical Trade Liquidity Facility, approved by the Board of Directors in December 2015 to assist member countries adjust in an orderly manner to the commodity price and terrorism-induced shocks threatening to cause economic dislocation, the Bank had disbursed $6.2 billion as at June 2016, with another $3 billion of requests in the pipeline.

Afreximbank was living its vision of being the trade finance bank for Africa, the President argued, citing estimates that its financings in the past few months accounted for close to 30 per cent of the trade finance flows to its member countries.

Earlier, Danny Faure, Vice President of Seychelles, said that Afreximbank had emerged as one of the main instruments of structural transformation in Africa.

“It has already proven its role as a catalyst for enhancing growth and for improving wealth creation across our continent,” said Vice President Faure, who went on to describe the Bank as a leader in innovation and in exploring new frontiers.

“For too long we have been beholden to a model of economic growth that has attempted to divorce economic sustainability from environmental sustainability. At this AGM, let us celebrate the conviction that investments in sustainable finance are also investments in a sustainable economy situated within a sustainable environment,” he said. “Through Afreximbank, we can create the tools that will empower local ownership of these sustainable growth models, and also generate future opportunities for re-investment.”

Also speaking, Dr. Denny Kalyalya, Governor of the Bank of Zambia and Chairman of the General Meeting, urged African countries that had not yet joined the Bank to do so in order to become part of the community of African nations that were keen to see the development of trade on the continent for the benefit of the people.

Dr. Kalyalya welcomed the resounding success achieved in the equity raising programme that sought to bring additional $500 million of capital into the Bank by the end of the 2016 in order to ensure that capital was not a constraint its growth and its capacity to underwrite business in response to the continent’s needs.

 

Dr. Kalyalya speaking to journalists.

In the subsequent deliberations, Jean-Paul Adams, Minister of Finance, Trade and the Blue Economy, of Seychelles, was elected Chairman of the General Meeting and an offer by Rwanda to host the next Afreximbank AGM was approved.

Activities marking the 23rd Afreximbank AGM, which was organised in collaboration with the Central Bank of Seychelles, began on 20 July with two days of seminars and a one-day meeting of the Bank’s Advisory Group on Trade Finance and Export Development in Africa. On 21 July, a trade exhibition and an investment forum, focused on investment opportunities in Seychelles, was held.

DRC ASK ZAMBIA TO CONTINUE SUPPLY POWER DESPITE THE COUNTRY FACING POWER DEFICIT.

The government of the Democratic Republic of Congo (DRC) has pleaded with the Zambian government to allow the power utility firm Zesco Limited resumes power supply to that country.

Upper Katanga Province governor, Jean-Claude Kazembe-Musonda says it is saddening for people in the neighboring country stay in blackout.

Zesco has discontinued the supply of power to the DRC owing to the money owed by that government.

But Governor Musonda noted that it is not a pleasant situation for the people to live without electricity but promised that the DRC government will pay off what it owes Zesco.

Governor Musonda has requested the Zambian government to help in negotiating with the power utility firm to continue the supply of electricity.

He made the appeal to the Zambian government when Copperbelt Minister, Mwenya Musenge, was in Congo recently.

And Mr Musenge said the Zambian government will provide the platform for smooth negotiations between the Democratic Republic of Congo and Zesco for the continued power supply to the DRC.

Zambia is currently facing energy crisis caused by the low water levels forcing the hydro-electricity plant which accounts for over 90 percent of power generation in the country to reduce power generation.

The low water levels in the three main hydro generation plants in the Southern Part of the country have affected power generation.

But ZESCO Limited says it has managed to reduce the power deficit from 1000 megawatts to below 500 megawatts.

ZESCO Technicians working on the power line.

Most sectors in the Zambian economy have sprinkled due to over 4 hours of load shedding imposed by the power utility firm.

The World Bank has further projected the slow in the GDP annual growth from average 6.5 percent to 3 percent in the next 3 years.

KWACHA APPRECIATION DUE TO CENTRAL BANK INTERVENTIONS AND ECONOMIC RECOVERY, HAMAAUNDU.

Financial analyst Maambo Hamaaundu has attributed the appreciation of the Kwacha in the last two weeks to interventions on the monetary side of the economy and not the recovery of the economy.

Mr. Hamaaundu says that the current stability in performance of kwacha is due to several interventions the central bank is putting in place.

Central Bank of Zambia

Speaking in an interview, Mr Hamuundu says there is current appreciation trend in the kwacha can also be attributed to treasury review options by the central business.

He has predicted that the kwacha will fluctuate due to the current political environment.

Mr Hamuundu has since called on government to put in place measures that will ensure the stability during this period.

He observes that government has embarked on a number of interventions from both the fiscal and monetary sides including the review of fuel subsidies and procurement processes.

80 MILLION DOLLARS ZAMBIA SUGAR PRODUCT ALIGNMENT REFINERY PLANT COMMISSIONED!

ZAMBIA Sugar Plc. has commissioned its US$80 million product alignment refinery plant, with President Edgar Lungu assuring government’s desire to prioritize industrialization as a vehicle for economic growth by encouraging investment in value addition to primary materials.

And the President has said he was happy at the level of investment in the manufacturing sector because it directly responded to Government’s policy of ensuring that Zambia became a manufacturing hub for the region.

President Lungu said Government remained committed to creating a conducive and enabling environment for the private sector investment to flourish.
Speaking when he commissioned the Zambia Sugar product alignment and refinery plant in Mazabuka on thursday, the President said the Zambian government will continue with its mandate to create more sustainable jobs for the people through conducive environment for the private sector.

"You agree with me that developing a nation requires concerted efforts by every citizen. One of my Government’s mandates is to create more sustainable jobs and wealth for our people. Therefore, I commend you for undertaking this important project because it will contribute to the economic development of the nation."
He said he was happy with the consistency shown by Zambia Sugar through continuous improvement to the performance of the company
as well as continued expansion to the company's infrastructure.

President Lungu said he believed that Zambia could be a manufacturing hub not only for sugar but a wide range of products.
He said Government through the Ministry of Commerce, Trade and Industry was finalizing Zambia's national industrial policy and the country's investment promotion strategy which would attract more investment once implemented.

President Edgar Lungu officially opens the refinery plant.

"The investment by Zambia Sugar underlines its commitment to the economic growth and prosperity of Zambia, and underlines itself strongly with the Government’s desire for greater levels of direct investment.
"In so many ways, Zambia Sugar meets the benchmark of a good investor that the Government desires in the agriculture and manufacturing sectors," he said
The President encouraged other players in the private sector to emulate Zambia Sugar in supporting the Government’s economic agenda.

Meanwhile, Zambia Sugar Group managing director Gavin Dalglish said the plant would increase overall sugar production from 420,000 to 450,000 tonnes of sugar per annum.
Mr Dalglish said US$60 million out of the US$80 million syndicated financing was sourced locally.
"We have become a significant player in the social-economic development and empowerment of the Mazabuka district and to the national economy," he said.

Mr Dalglish explained that the investment underlined Zambia Sugar's strategy of focusing on growth within its domestic and regional markets.

AFRICA NEEDS FACILITATING INFRASTRUCTURE TO TAP €200-BILLION FACTORING GROWTH, AFRICA EXPORT-IMPORT BANK.

The African Export-Import Bank (Afreximbank) says the continent must put in place facilitating legal and regulatory infrastructure to enable it absorb opportunities associated with factoring volume expected to reach 200 billion Euros in 2020.

Kanayo Awani Managing Director of the Intra-African at Afreximbank says there must also be an expansion of credit insurance, attraction of international factors into Africa, training, and support from governments.

Lausward gas fired pwer plant built by siemens in S. Africa.

 According to the statistics Africa’s factoring volumes, which stood at 24 billion Euros in 2012 would grow to 90 billion Euros in 2017 and 200 billion Euros by 2020, and Ms. Awani, said that there must be improved regulatory reforms and creation of awareness for the continent to reap the full benefits of that growth.In addition to provision of lines of credit to factors, Afreximbank had also been engaged in raising awareness about factoring through educational activities and in fostering the creation of facilitative infrastructure across Africa.

Ms. Awani who is also Chairperson of the Africa Chapter of the International Factors Group, which recently signed an agreement with Factors Chain International forming a single organization, was speaking during the sensitization seminar organized by Afreximbank to promote the Model Law on Factoring that was drafted to guide African countries in preparing national factoring laws.

She notes that because of the very limited knowledge of factoring in Africa, there had been little efforts by governments and global factoring groups to promote it.

She announced that, since 2011, Afreximbank had approved $83 million for factors in Africa and that it was currently assessing factoring lines totalling $90 million.

Ms. Awani added that in addition to provision of lines of credit to factors, Afreximbank had also been engaged in raising awareness about factoring through educational activities and in fostering the creation of facilitative infrastructure across Africa.

BARCLAYS BANK AFRICA COMMITS OVER 180 MILLION DOLLARS TOWARDS IMPROVING SKILLS DEVELOPMENT AND ACCESS TO QUALITY EDUCATION ON THE CONTINENT.


Barclays Africa has reaffirmed its commitment to enhance economic and socio-economic growth on the continent through its Shared Growth Strategy, pledging $93 million dollars to improve skills development and access to quality education.
The Bank has also pledged to raise $89 milloin dollars to help small and medium-sized African businesses succeed and grow, and to ensure that more people have access to digital and non-digital financial services across the continent.
Speaking at a press briefing in Johannesburg, Maria Ramos, Barclays Africa Group Chief Executive said “Shared Growth for us means having a positive impact on society and delivering shareholder value, the two are not mutually exclusive.

Maria Ramos

Ramos says the Bank is applying the substantial resources to provide innovative commercial products, services and partnerships to build a more equitable and prosperous Africa for the next generation.
Ramos says the bank believes that when customers and clients do well, so do the bank adding that communities where bank lives and work thrive, it exists as well.
The Bank believes when society prospers, they all do, But only if they work together – private public partnerships are the key to tackling some of society’s biggest challenges – to deliver on growth opportunities.
“We believe a business can only be successful if it connects positively and creates value with the society in which it operates in,” added Ramos.

“Shared Growth is based on creating shared value. It emphasises the connections between societal and economic progress, showing that they are mutually dependent, and when unleashed can stimulate substantial growth. Companies can, and indeed should, develop deep links between their business strategies and citizenship.