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Zambia to introduce sales tax next year to boost revenues

Zambia will abolish Value Added Tax (VAT) and replace it with a non-refundable sales tax in April, Finance Minister Margaret Mwanakatwe said on Monday, a move likely to help the government boost revenue collection and bring down mounting debt. Mwanakatwe said the Zambia Revenue Authority (ZRA) would finalise audits of all outstanding VAT refund claims and collect any unpaid taxes before making the change. “Sales tax is coming on April 1. We do not have a manufacturing base. There is no value addition,” Mwanakatwe said at a post-budget meeting with business people. In her budget speech on Friday, Mwanakatwe said Zambia will introduce new mining duties and increase royalties to help tackle debt. The International Monetary Fund has put on hold talk about an aid package due to Zambia’s debt levels which it describes as unsustainable. ZRA said in July it had paid out 4.2 billion kwacha ($338.7 million) in VAT refunds, including 2.5 billion kwacha to the mining companies in Africa’s second-large…

50 Best Small Business ideas for Graduates in 2018

For 1 - 24 Click HERE!!

25. Consider Affiliate Marketing: What an affiliate marketer does is to help promote products and services of other companies and earn commission from sales made. You will need a good knowledge of web marketing, sales copywriting and pay per click marketing to become an affiliate marketer.
26. Ghost Writing: You can provide ghost writing services to people who need it and get paid for it. The first business you can start as a writer is a freelance writing business; also known as ghost writing. Now there are wealthy individuals and corporate leaders who have ideas and experiences they would like to document and publish as a book; but they can’t seem to find time to sit and write.
27. Offer Virtual Assistance Services: A lot of busy professionals would not mind getting extra help in reading their e-mails, responding to enquiries and organizing meetings and tasks for them without having to hire a secretary or personal assistant. Many people prefer to hire a virtual assi…

50 Best Small Business ideas for Graduates in 2018

Are you a fresh graduate or an unemployed graduate and you want to start a business? If YES, here are 50 best lucrative small business ideas for graduates in 2018.
The job market is highly competitive, and even if you’re perfectly qualified for a position, there’s no guarantee that you’ll get it. But those graduate loans have to get paid off somehow, don’t they? The first thing that fresh graduates look out for is jobs. There are plenty of job opportunities that the fresh graduates can go for. However, there are many new graduates who opt for starting their own business.
For new graduates looking to start their own business ventures have a great future as there are many business ideas for fresh graduates. Instead of waiting around for their dream job, you may also want to try your hands on other business opportunities. If you are a graduate looking to start a good business, you may want to consider any of the following business ideas;
50 Best Small Business ideas for Graduates in 2018
1. …

Youth entrepreneurs call for relaxed regulations

Young African Entrepreneurs at the on-going World Export Development Forum have called for the need to ease access to funding and breaking down of regulations impeding them to undertake businesses on the continent. Speaking during the session, Youth Unconference, Imagine a World with No Borders, a panel of youth entrepreneurs cited inadequate funding and in-country regulations as some of the barriers making it difficult for them to succeed in doing business. Ms. Stella Rukayi, Co-founder of Plan Store Business Solutions-Zambia observed that there is need for governments to do more in ensuring that young people going into businesses do not encounter obstacles. Full Story: Here

Zambia should avoid contracting new loans at China-Africa summit

The Centre for Trade Policy and Development has advised the Zambian delegation attending the third Forum for China Africa Cooperation (FOCAC) summit to avoid contracting any fresh loans. CTPD Executive Director Isaac Mwaipopo said Zambia should avoid at all costs acquiring more debt during out of this summit. Mr Mwaipopo added that Zambia is at high risk of debt distress, and the Chinese government has time and again signaled that China might be open to supporting the Zambian Government to restructure its debt portfolio. - Full Story on LS

Zambian startup Mangwee launches payments platform

Zambian fintech startup Mangwee has launched its payments platform, which allows users to easily make domestic money transfers and will soon move into international remittances. Launched in May after being issued with a designation licence by the Bank of Zambia, Mangwee provides a range of services including online payment gateways, bill payments, and mobile money services. The early-stage startup will also soon allow digital termination of international money transfers and cross-border remittances after finalising strategic partnerships with other companies operating in different African countries. Co-founder and chief technology officer (CTO) Bwalya Kampamba said Mangwee – which was formed as a company last year – was operating in a country where over 40 per cent of Zambians were excluded from the formal financial sector. “Mangwee was developed for the unbanked to provide them with a quality payment system that is secure and affordable,” he said. Zambia already has a number of play…

Zambia records improvement in business transactions

The Zambia Chamber of Commerce and Industry (ZACCI) says the country has recorded an improved business environment in the last six months. 
ZACCI President Michael Nyirenda attributed the continued improvement in business to rising copper prices on the international market as well as an increased injection of liquidity on the local market. 
Addressing a media briefing in Lusaka today, Mr Nyirenda said that ZACCI had sampled over 200 of its members from all sectors of the economy across the country and all indicated that their business trading environment had improved. 
According to the ZACCI business confidence index, business in the first quarter of 2018 suffered from the cholera outbreak, and stiff competition from imported goods. However business has substantially increased by 44.2 points rising from 124.3 points to 168.5 points due to favourable copper prices and increased liquidity injection in the economy. Mr Nyirenda praised government for reducing the lending policy rate an…

Zambia should focus on growing the economy from own resources

Green Party President Peter Sinkamba says the austerity reforms which Government plans to embark on should not focus on foreign saviours but growing the economy from own resources.

Speaking to the press in Kitwe this morning on the planned trip by ministers and other government officials to China to renegotiate Chinese loans, Mr. Sinkamba said the move is good except the timing is wrong and therefore is unlikely to yield desirable results. He cited the on-going trade wars between China and the US which in the short to long-term appears to be hurting the Chinese economy seriously, and may increase as the war escalates. “The tariffs so far imposed account for about 0.1% of the global GDP. This is a massive loss on either side. Both sides are grieving. I am sure either side must be busy trying to search elsewhere in the world where they could generate money to fill up the void created by the trade war. To make matters worse, the tit-for-tat trade war is unrelenting and escalating because…

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…

What is Top Zed Brands About?

For a while now, you and some curious bodies have asked these questions. So, with this short blog post, I hope I can remove the cobwebs and set you on the path to everlasting knowledge and light. Hopefully, you grasp what this project is about.
#TopZedBrands was born on social media via a weekly chat on Twitter known as 'Insaka Chat'. Where a wide range of social issues relating to Zambia are discussed. That was in 2013. To day we have a modest following on our twitter (@TopZedBrands) and Facebook accounts. Check out our twitter handle and interact with us. We are keen to know your views re quality Zambian products and services.
We have been around for four years now. By now we hope you know or at least have an idea who we are. If not please take a few minuets to have a look at  our 1,2,3...
1. #TopZedBrands Background
Explains to you, where we came from, what and who we are. Where we hope to go.
2. In simple terms we want to promote quality Zambian brands (for free).
Tells you exac…