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DotComZambia Review Part 1

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The Citizens Economic Empowerment Commission (CEEC) has applauded Fay Fabrics’ commitment to diversifying from just producing ready-to-wear fashion into textile sourcing, as this will lead to improving the competitiveness of local fashion products by lowering the price point of final pieces. Speaking during a monitoring tour of various CEEC-funded projects in Lusaka province, CEEC Acting Director General, Nchimunya Monde has observed that the installation of the fabric-printing machinery in Lusaka District will make it easier for Fay Fabrics and other competing fashion enthusiasts to have locally-produced textiles at lower costs. Gwendolyn Mulenga, the Chief Executive Officer (CEO) of Fay Fabrics pointed out that public subsidies for local textile producers and other upstream players (i.e. cotton growers, spinners, weavers, producers of zippers, buttons, etc.) could help ease trading. In 2017, Fay Fabrics obtained a loan of K250, 000.00 from CEEC to acquire a fabric printing machin…

Trade Kings voted among Africa’s most admired brands

Zambia’s largest consumer goods (FMCG) company Trade Kings has been ranked No 49 on the list of Africa’s 100 most admired brands.
Trade Kings has largest media spend in Zambia. The ranking is based on the Top 100 best brands in Africa from Brand Africa’s 6th annual Brand Africa 100: Africa’s Best Brands based on a survey among consumers 18 years and older, conducted in 23 countries across Africa. The countries, representing all African economic regions, collectively account for 75% of the population and the 74% of the GDP of Africa. Africa’s largest mobile operator, MTN, ranked No6 on the list, up from No9 in 2016/17; food giant Tiger Brands ranked 32, Shoprite 38 and DStv 56. US sports apparel company Nike took the No1 spot, followed by South Korean electronics manufacturer Samsung at No2 and German sports apparel company Adidas at No3. Brand Africa Chairperson Thebe Ikalafeng, who released the list at the Johannesburg Stock Exchange on Friday, said their survey received more than 15…

Government is alarmed with financial and economic crimes in Zambia - AG

Mr. Kalaluka who is also Anti – Money laundering Authority Chairperson believes that the formation of Inter- Agency task forces could help increase the ability to effectively fight Financial crimes that include, corruption, bribery drug trafficking , tax invasion and money laundering among others. 

The Attorney General was speaking in Lusaka today when he launched the 2017, Money laundering and Terrorism Financing Trends Report.

ZANIS reports that Mr. Kalaluka charged that Government has on its part provided the legal and institution framework in which those charged with responsibilities of fighting financial crimes could carry out their mandate.

Mr. Kalaluka has since urged stakeholders that include all law enforcement agencies to re-strategize their approach to fighting financial crimes in the country in line with the Seventh National Development Plan (7NDP).

And Acting Financial Intelligence Centre Board Chairperson John Kasanga said the report aims to assist stakeholders understa…

Proflight to hit Zimbabwean skies

Zambia’s leading airline, Proflight Zambia is set to introduce flights between Lusaka and Harare beginning the first week of July.

Civil Aviation of Zimbabwe Public Relations and Communications Manager Mrs Anna Hungwe said Proflight will be flying ino Harare four times a week. The airline will be flying on Monday, Tuesday, Thursday and Saturday using a 29-seater Jetstream 4100 (J41),” she said. Mrs. Hungwe said the arrival of Proflight underlines that the Harere route is a viable and lucrative route and a culmination of the Authority’s marketing efforts. “There is improved perception of the Zimbabwean destination and our collaborative marketing efforts continue to bear fruit,” she said. Proflight will have to contend with competition from Kenya, Ethiopia, Angola, Emirates and Namibia. Proflight was established in 1991 and operates over 200 flights a week with an on time performance of over 80 percent. It services domestic routes in Zambia and regional routes in Lilongwe in Malawi and …

SMEs to participate in Economic growth

Government says there is need to lift the financial platform of Small Medium Enterprises(SMEs) to boost their ability to manage businesses in order to take part in economic growth.

Works and Supply Minister Felix Mutati said this in Mongu district yesterday when he paid a courtesy call on Western Province Permanent Secretary (PS) Sibanze Simuchoba ahead of the ACCA Accountants’ clinics to be held in the Provincial capital. Mr. Mutati said that supporting SMEs in financial and leadership responsibilities is important to bring order to the management of their businesses. He said SMEs have the capacity to initiate economic growth if they have financial knowledge hence, the need to close the gap between financial knowledge and support for SMEs. The Minister said the programme embarked on by ACCA is to supplement others being undertaken by Citizen Economic Empowerment Commission (CEEC) and other Government institutions. He said the financial literacy for SMEs will not only help in economic…

Mining customs audit has concluded-ZRA

The Zambia Revenue Authority says it has concluded the customs audit of all major mining companies in Zambia. ZRA Spokesman Topsy Sikalinda said the results have of the customs audit have since been communicated in writing to the tax payers. “Some of them are responding, while others have asked for more time which we have since granted,” Mr Sikalinda said. He added, “Please note that this is a normal audit process and that the authority is not targeting any particular company. As soon as this process with the industry is finalised, ZRA will update the nation accordingly.” Earlier today, Centre for Trade Policy and Development Executive Director Isaac Mwaipopo urged the ZRA to update the nation on the progress regarding the tax audit of all mining companies. - Lusaka Times

Japan commits to constructing a bridge across the Luangwa river

The Japanese government has committed to construct a bridge across the Luangwa river on the Great East road to replace the existing suspended bridge. Japan is also willing to give Zambia a grant to construct the bridge. Japanese Deputy Minister of Lands Infrastructure Transport and Tourism Yoshiyuki Aoki revealed this when he met Minister of Housing and Infrastructure Development Ronald Chitotela in Johannesburg, South Africa. And Mr. Chitotela says a team of experts from Japan will be visiting Zambia to carry out an assessment on the type of bridge to put up and how much it will cost. Mr. Chitotela says the Japanese government has since directed the Japanese Ambassador to Zambia to write a formal letter to the Zambian government on his country’s commitment to construct the bridge. And Mr. Chitotela said the Luangwa bridge is important to Zambia as it is a gateway to the Port of Nacala in Mozambique. He added that the suspended bridge has a disadvantage as it only allows one vehicle …

Zambia’s private sector grows further

The Purchasing Managers’ Index (PMI) survey data for April signalled further improvement in the health of the Zambian private sector during the month. Business activity rose for the first time in 2018, as the negative impacts of the recent cholera outbreak continue to subside. Stronger customer demand enabled firms to win new business at a solid pace resulting in higher purchasing activities and stable employment. Meanwhile, input costs fell for the first time in 19 months on easing price pressures. There was a slight increase in the rate of output prices, culminating in the slowest rate observed under the current sequence of inflation. The headline figure for April was 51.2 up from 50.7 in March indicating an overall improvement in business conditions in Zambia’s private sector. The rate of growth was the strongest observed in 2018 after accelerating from March. [Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a …

Zambia holds a bilateral meeting with Japan at the Africa-Japan Investment Forum

Zambia has held a bilateral meeting with Japan at the Africa-Japan Investment Forum held at the Sandton Convention Centre in Johannesburg, South Africa. Mines Minister Richard Musukwa led a delegation of Zambian government officials while the Japanese delegation was led by its Minister of Economy, Trade and Industry Hiroshige Seko. Speaking during the meeting, Mr. Musukwa mentioned that government was promoting mineral exploration for the development of both small and large scale mining operations in order to increase employment generation and business opportunities for the local people. He said mining was at the center of Zambia’s industrialization and job creation strategy as reflected in the seventh National Development Plan, therefore, the provision of geological information was central to the growth of the sector. Mr. Musukwa expressed gratitude to the Japanese government for collaborating with Zambia to help generate geological information through a Japanese firm called JOGMEC,…