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.