Category: Business

CEO Lukas ‘Luknet’ Simumba eyes Nakonde Parley seat


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CEO Lukas ‘Luknet’ Simumba eyes Nakonde Parley seat By Derrick Sinjela, monitoring from Lusaka Province A NAKONDE based business person in Muchinga Province Lukas Simumba has declared his earnest intention to contest the parliamentary seat on Patriotic Front ticket with the main agenda of strengthening the agricultural system in the district. The parliamentary seat is currently controlled by Yizukanji Siwanzi, a PF Member of Parliament and will become vacant on Wednesday 12th May 2021, when President Edgar Chagwa Lungu dissolves parliament. Speaking when making his intentions known to scores of residents, who had gathered at his residence, Mr. Simumba said...

Supreme Court orders Professional Insurance Corporation (Z) Limited to pay Zambia Revenue Authority K1, 300,000


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By Derrick Sinjela – Rainbow Newspaper Zambia Limited PROFESSIONAL Insurance Corporation (Z) Limited has been ordered to pay the Zambia Revenue Authority (ZRA) Value Added Tax (VAT) from its salvage sales, confirms ZRA Corporate Communications Manager Topsy Sikalinda. A delighted Mr. Sikalinda said in its ruling on Friday 19th February 2021, the Supreme Court ordered the insurance company to pay the VAT due and the costs awarded to ZRA within thirty (30) days of the judgment. In 2013, ZRA found that Professional Insurance was owing K1, 300,000.00 in VAT from the Sale of Salvage when the Authority audited the business...

Joint CSO Press Statement Dated Thursday 18th February 2021 on the Proposed Cyber Security and Cyber Crimes Bill


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By Linda Kasonde Executive Director, Chapter One Foundation We, the undersigned civil society organisations, note the proposed changes to the law regulating the cyber space in form of the Cyber Security and Cyber Crimes Bill of 2021. While it is imperative to ensure the safety of the public at large against cyber security threats, this must invariably be balanced with the right to freedom of expression and the need to maintain the right to privacy enjoyed by all members of the public. We wish to state from the outset that while several statements have been made regarding the creation of...

PRESIDENT LUNGU ADDRESSES PARLIAMENT ON NATIONAL VALUES AND PRINCIPLES


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Republic Of Zambia Address By His Excellency Mr. Edgar Chagwa Lungu President Of The Republic Of Zambia On The Progress Made In The Application Of The National Values And Principles Delivered To The Fifth Session Of The Twelfth National Assembly On Friday, 12th February, 2021           State House Lusaka     Introduction   Mr Speaker, Our Constitution, Pursuant To Part Ii, On National Values, Principles And Economic Policies, Articles 8 And 9, As Read With Article 86(1), Requires That The President Of The Republic Of Zambia Reports To This August House The Progress Made In The Application Of...

LAUNCH OF THE ZAMBIA MEDICAL ASSOCIATION CO-OPERATIVE AND THE UNVEILING OF THE HOSPITAL PROJECT


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By Zambia Medical Association Media Team THE Zambia Medical Association (ZMA) is in the process of developing a 100 Bed capacity specialized private hospital to sit on the 5-acre piece of land located on the road frontage of Mumbwa road, 7 km from Lusaka CBD. The project is estimated to cost $15m, and being a not-for-profit organization, ZMA has facilitated the formation of an autonomous business entity called the Zambia Medical Association Cooperative (ZMAC) that will partner with ZMA members and the business community to capitalise this project, and oversee the subsequent construction and development of the hospital. In light of...

Rising inflation hurting the economy: BOZ urged to consider raising the Policy Rate


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By Wakumelo Mataa CTPD Researcher Public Finance Tuesday 16th February 2021 THE Center for Trade Policy and Development (CTPD) has noted with concern, the sustained rise in inflation over the recent past. Inflation rose from 12.5 % in January, 2020 to 21.5% in January, 2021, implying that the cost of a representative consumption bundle has almost doubled in just one year. During its last sitting in November, 2020, the Bank of Zambia Monetary Policy Committee (MPC) projected inflation to average 16.7% in the fourth quarter of 2020. However, this is less than the actual inflation outcome for the fourth quarter...

Joint CSO Press Statement Dated Thursday 18th February 2021 on the Proposed Cyber Security and Cyber Crimes Bill


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By Linda Kasonde Executive Director, Chapter One Foundation Signed for and on behalf of the following CSOs: We, the undersigned civil society organisations, note the proposed changes to the law regulating the cyber space in form of the Cyber Security and Cyber Crimes Bill of 2021. While it is imperative to ensure the safety of the public at large against cyber security threats, this must invariably be balanced with the right to freedom of expression and the need to maintain the right to privacy enjoyed by all members of the public. We wish to state from the outset that while several...

OPEC Fund extends $50m for poverty reduction in Tanzania


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The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people VIENNA, Austria, February 19, 2021/ — The OPEC Fund for International Development (the OPEC Fund) (https://OPECFund.org) has signed a US$50 million loan with Tanzania to finance the ‘Fourth Tanzania Poverty Reduction Project’. The project will build rural infrastructure to boost economic opportunities and improve access to social services for more than 900,000 people. Although Tanzania has made progress in reducing poverty over the past decade, around 26 million people – close to half the total population – live on...

UPPZ is a political party born with teeth, brags Charles Chanda


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    By Derrick Sinjela UNITED Prosperous and Peaceful Zambia (UPPZ) leader Charles Chanda says his three-year-old outfit and making both the Patriotic Front (PF) and United Party for National Development ( UPND) are running for their money. Featuring on Millennium Radio 90.5FM Talk at Six anchored by Juliet Makwama, Mr. Chanda stated that his outfit is a force to reckon with. Responding to a question whether or not political parties are offering checks and balances on the PF Government, Mr. Chanda says sadly the nascent democratic environment in Zambia does not tolerate dissenting viewpoints. With barely five (5) months...

BoZ Governor Christopher Mphanza Mvunga sets MPR at 8.50 per cent


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  By Derrick Sinjela and Francis Maingaila Bank of Zambia (BoZ) Governor Christopher Mphanza Mvunga has adjusted the Monetary Policy Rate upwards by 50 basis points to 8.50 %. In a Wednesday 17th February 2021 Monetary Policy Committee (MPC) Statement, Mr. Mvunga explained that the decision to adjust the Monetary Policy Rate upwards by 50 basis points to 8.50% was arrived at during a February 15 – 16, 2021 Monetary Policy Committee Meeting in Lusaka. Franked by BoZ Deputy Governor – Operations Dr. Francis Chipimo and Deputy Governor -Adminstration Ms. Rekha Chifuwe-Mhango, Mvunga reiterated that the adjustment had been necessitated...

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