RCV News

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By Margaret Mwanza Stanbic Bank has partnered with the Zambia Credit Guarantee Scheme (ZCGS) to extend more credit to Micro Small and Medium Enterprises (MSMEs) in the country to boost economic growth. The MoU agreement symbolizes Stanbic and the ZCGS’s joint effort to remove barriers that have historically hindered MSMEs from accessing affordable financing. “MSMEs in Zambia contribute 70% of Gross Domestic Product (GDP) and 88% of employment,” said Stanbic Chief Executive, Mwindwa Siakalima, in a statement to RCV News in Lusaka. Mr. Siakalima said the MoU will now enable the Bank to extend more credit to the MSME sector to stimulate further economic growth. He said with the current energy crisis, Stanbic is confident that the selected MSMEs playing in the renewable energy sector will be adequately supported to alleviate the pressures businesses are facing due to the load shedding impact. ZCGS Chief Executive, Mary Mumba said with improved access to finance, MSMEs will be better positioned to invest in their operations, expand their businesses and create jobs. “This is especially important for entrepreneurs, who have the vision and determination to grow their businesses but have faced challenges in securing loans due to lack of collateral or credit history,” said Ms. Mumba. Meanwhile, Director Planning and Information in the Ministry of Small and Medium Enterprise Development, Mr. Nicholas Chikwenya said the initiative will open new doors for SMEs, providing them with the financial support they need to scale up their operations, invest in innovation and create new employment opportunities.

By Eva Hatontola President Hakainde Hichilema says the prolonged hours of load shading being experienced by Zambians, induced by drought, are regrettable and that he sympathizes with the citizens. The President said this in Lusaka today when he opened the Fourth Session of the Thirteenth National Assembly under the theme “enhancing national resilience, sustaining social economic gains in the face of adverse effects of climate change”. “Our hearts are weakened,” said President Hichilema as he showed empathy for the citizens. The President said government is therefore working hard through provision of humanitarian efforts, assuring that no Zambian will die of hunger during the current drought. He said government is implementing recovery and resilience interventions to mitigate the impact of climate change. President Hichilema commended citizens for their resilience. The President However said the climate change presents Zambia with an opportunity to devise solutions to the challenges. “It is a call to action, and a catalyst for innovation,” said President Hichilema. He urged Zambians to seize the opportunity to find solutions to build a sustainable future. And President Hichilema said asset recovery is part of government’s fight against corruption. The President said through the asset recovery efforts, additional assorted properties worth over K100 million and cash amounting to US$30.8 million, as well as K56.6 million have so fare been forfeited to the state. Meanwhile, President Hichilema assured that an additional 4000 Health will be recruited this year, to equip the health service with the much-needed workforce. The President also said more Teachers will be employed this year, to improve the welfare of Zambians.

By Eva Hatontola Swedish Ambassador to Zambia, Johan Hallenborg ,has assured that his Government will support Zambia overcome the negative impact of climate change-induced drought and increase funding to Social cash Transfer programme. Ambassador Hallenborg made the assurances when he paid a courtesy Call on Minister of Green Economy and Environment, Mike Mposha, at his office in Lusaka on Wednesday. He said both Zambia and Sweden are experiencing the effects of climate change. “We have assisted through the EU. We have donated US$ 1 million to the World Food Programme for humanitarian assistance; that is through a programme that I recently visited in Monze District where we could see the devastating effects of drought but also see that the funding we are providing now helps people,” said Ambassador Hallenborg. He said the support goes in the emergency cash transfer programme. Ambassador Hallenborg called for close working relationship with Zambia at multilateral fora such as United Nations Climate Change Conference (COP). And Hon. Mposha said the Zambian Government is working tirelessly to develop climate-resilient infrastructure, enhance disaster preparedness, and support climate-smart agriculture practices. He said the Ministry is committed to promoting economic growth, job creation, and environmental sustainability. “Our goal is to transition Zambia into a low-carbon and resource-efficient economy that benefits all citizens. As such, initiatives focusing on renewable energy, sustainable agriculture, and ecotourism are important to us as we aim to reduce our carbon footprint, protect our natural resources, and build resilience for our people,” said Mr. Mposha.

By Eva Hatontola Minister of Technology and Science, Felix Mutati, says government is working with cooperating partners to enhance the quality of service delivery in Technical and Vocational Education and Training (TVET) institutions by training lecturers for improved outcomes. Mr. Mutati said this during a panel discussion titled “ Raising the Bar: How do we create Excellence in every TVET system,” at the Eurexpo Lyon WorldSkills Competition in France. He highlighted government’s collaboration with the private sector to develop a curriculum that responds to the evolving needs of the industry. Mr. Mutati announced plans to introduce TVET degree programs, aimed at making vocational training more appealing to youths as the first option of study and setting high standards in the profession. He called for mindset change among the youths, motivating them to pursue vocational training and skills development. Meanwhile, Mr. Mutati said Zambia has recorded a remarkable 300% increase in enrolment in TVET institutions across the country due to the strong political will to foster an environment conducive to youth engagement in vocational training and skills development. He said, following the implementation of the policy that addresses access to TVET institutions, the Government has increased funding to TVET institutions by 100% to meet the demands of the surge in enrollment and improve the quality of service delivery. Mr. Mutati further expressed optimism about the WorldSkills Africa to be hosted by Zambia in April 2025. He noted that WorldSkills Africa presents a unique opportunity to transform TVET systems across Africa and collaborate with other countries especially in the region on skills development and enhancing vocational education. The WorldSkills Competition, running from September 10 to 15, 2024 has drawn participants from 89 Member States to showcase excellence in vocational skills and development . This is contained in a statement issued to RCV News in Lusaka today by First Secretary Press , Zambia’s Embassy in France, Naomi Mweemba.

By Eva Hatontola Mines and Minerals Development Director Planning and Information, Tobias Musonda, is optimistic that the Zambia Mining Insaka which will be held in Lusaka next month, will provide a significant platform for networking and securing new opportunities to grow the local mining industry. Mr. Musonda, who was representing the Permanent Secretary, said this in Johannesburg during the Mining and Investment Insaka media interactive forum. He said the Insaka will provide a platform for engagement, knowledge sharing, and the exploration of new opportunities for growth and innovation in the sector in Zambia. Mr. Musonda said this will help various stakeholders to network and attract investment in the mining sector by showcasing opportunities. And Zambia High Commissioner to South Africa, Mazuba Monze, said the Mining Insaka aims to bring together industry stakeholders, investors, and key decision-makers to explore collaborative ventures and foster innovation in the mining industry. She said the forthcoming Insaka underscores Zambia’s resolve to attract investment, foster partnerships, and drive sustainable development through the country’s rich mineral resources, with a progressive vision for the future. “As we embark on this transformative journey towards a greener and more sustainable future, the collaboration between investors, Government entities, and industry stakeholders will be instrumental in unlocking the immense potential of Zambia’s mining sector,” said Ms. Monze. She said these initiatives spearheaded by President Hichilema and the Ministry of Mines and Mineral Development signals a new chapter in Zambia’s mining industry, with strategic partnerships. “Zambia is a destination for direct investments and is leading the way in sustainable mining practices and economic growth. The future holds great promise for the mining sector in Zambia, built on a foundation of innovation, collaboration, and sustainable development,” said Ms. Monze. The Zambia Mining and Investment Insaka will be held in Lusaka at the Mulungushi International Conference Centre on the 7 to 10 October 2024. This is contained in a statement issued to RCV News in Lusaka today by First Secretary Press and Public Relations Zambia High Commission in South Africa, Tamara Nyirenda.

By Eva Hatontola Zambia’s Ambassador to Germany, Winnie Chibesakunda, has presented her Letters of Credence to the President of Slovenia, Nataša Pirc Musar, accrediting her as Ambassador Extraordinary and Plenipotentiary to Slovenia on a non-residential basis. The ceremony was conducted at the Presidential Palace in Ljubljana, the capital city of Slovenia. Ambassador Chibesakunda reaffirmed Zambia’s commitment to maintaining and strengthening relations with Slovenia. After presenting her Letters of Credence, Ambassador Chibesakunda said there are many sectors in which Zambia and Slovenia can cooperate including agriculture, education, health, water management and reticulation as some key areas in which to strengthen cooperation. And President Nataša Pirc Musar pointed out that there are strong opportunities for cooperation in agriculture. Dr. Musar noted that Slovenia is currently running a “wonderful” project in Zambia on beekeeping and that there is a window of opportunity for the two countries to do more. The President further said Slovenia fully supports efforts for Africa to have a permanent seat at the United Nations. This is contained in a statement issued to RCV News in Lusaka today by First Secretary-Press, Zambia’s Embassy in Germany, Lubinda Kashewe.

By Eva Hatontola The Zambia Revenue Authority (ZRA) will this Thursday 12th September, 2024, hold the Taxpayer Appreciation Day, to recognize and appreciate compliant taxpayers for their patriotism in dutifully remitting their taxes in the financial year 2023. The 2024 Taxpayer Appreciation Day will be an award ceremony to recognize and honour distinguished taxpayers and traders for upholding tax compliance through filing tax returns and making tax payments. ZRA Manager- Corporate Communications, Oliver Nzala, says the ceremony will also act as a platform to encourage citizens to be tax compliant, fund the national budget and make their contribution towards sustaining the economy. “This year’s Taxpayer Appreciation Day theme is “Taxes Build Zambia. The theme is a rallying call to all Zambians to fulfill their role towards the prosperity of Zambia through payment of taxe,” said Mr. Nzala in a statement issued to RCV News in Lusaka today. He said Taxpayers from various sectors of the economy will be recognized for their resilience and dedication towards the national development agenda through payment of taxes that saw the ZRA collections hit K100 billion for the first time. “Although there remains a significant number of taxpayers that are non-compliant in submitting returns and paying their taxes, it is important to celebrate and appreciate those that their contributions to the state seriously,” said Mr. Nzala.

By Eva Hatontola Bank of Zambia (BoZ) says Zambia has made progress towards closing the financial inclusion gap, despite women still lagging behind men, in accessing and using financial products and services. BoZ Deputy Governor Administration, Rekha Mhango, says the 2020 FinScope Survey indicated that financial inclusion increased to 69.4% from 59.3% in 2015. She said this during the financial inclusion and gender data workshop today. Ms. Mhango said formal financial inclusion rose to 61.3% from 38.2% in 2015. “In terms of formal financial inclusion, 64.4% of male adults were formally included compared to 58.6% of females, thus representing a formal financial inclusion gender gap of 5.8%. She said this is an improvement when compared to the2015 survey, which indicated that the formal financial inclusion gender gap stood at 10%. Ms. Mhango said the decline in the formal financial inclusion gender gap demonstrates the usefulness of collecting good quality sex-disaggregated data and adopting appropriate policies to address imbalances. She said BoZ has been working closely with FinScope Survey to encourage the adoption of gender-responsive strategies in their processes as part of its efforts to contribute to increased financial inclusion, in line with its 2024 – 2027 Strategic Plan.

By Eva Hatontola Telecoms firm Zamtel has launched an electronic sim card which targets to increase phone and internet connectivity countrywide. The e-sim card, which can be used on a phone which supports one sim card, is also targeted at tourists who can install it on their phones as they visit the country. Zamtel Chief Executive Officer, Jason Mwanza, says the e-sim card is a virtual one which has the same functions of the physical sim card. Mr. Mwanza says the virtual sim card is ideal for frequent travellers as it is easy to use and activate. In a speech read for him by Zamtel Chief Technical Officer, Mwiya Wamunyima, Mr. Mwanza said the launch of the e-sim card shows that Zamtel is making technological advancements to provide it’s customers with better services. And Technology and Science Permanent Secretary, Brilliant Habeenzu, said the virtual sim card will enhance connectivity and promote the digital economy. Dr. Habeenzu said Zambia has joined major economies in embracing digital sim cards which have also been adopted in a number of African countries. He said the e-sim is likely to increase smartphone penetration in Zambia which currently stands just above 50%. Dr. Habeenzu says Zamtel is demonstrating that it is a market leader by launching the e-sim card.