Copperbelt Minister, Elisha Matambo, has announced that President Hakainde Hichilema donated K20,000 to each of the five families affected by a recent accident at Macro Link Mine along the Ndola-Mufulira road.

Matambo disclosed this during a meeting with the families on Monday in Ndola.

The five victims were retrieved and buried at Mitengo.

Konkola Copper Mines Plc (KCM) has reportedly settled approximately K50 million owed to three councils on the Copperbelt: Chingola, Chililabombwe, and Kitwe.

Read more: KCM exits liquidation, as court terminates proceedings, reinstates board

KCM Chief Financial Officer, Manish Saxena, announced this during a media briefing in Chingola on Monday.

According to Saxena, the payments marked the start of settlements to local authorities and other creditors under the new creditors’ scheme of arrangement.

Chingola Municipal Council would receive K26,809,553, Kitwe City Council K14,958,653.96, and Chililabombwe Municipal Council K8,180,298.18.

Saxena said they were committed to settling its debts to Class 1 and Class 2 creditors.

He stated this would positively impact the financial health of various local councils and businesses awaiting their dues.

“KCM will expedite the payment process in accordance with the scheme of arrangement guidelines, ensuring all creditors are compensated without unnecessary delays,” Saxena assured.

He highlighted this as a significant moment for KCM and its parent company, Vedanta Resources Limited, as they work to fulfill their financial obligations and strengthen relationships with key stakeholders.

Chingola Town Clerk Namukolo Kalufyanya expressed optimism about KCM’s revival, noting it signifies prompt payments of outstanding dues for retirees, statutory obligations, and service provision.

“This is the beginning of good things to come,” Kalufyanya stated.

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ZCCM-IH has reportedly handed over K36 million in dividend to the National Pension Scheme Authority (NAPSA) for the year ending December 31, 2023.

ZCCM-IH Chief Executive Officer, Dr. Ndoba Vibetti, stated that this marked the ninth consecutive year of dividend payments to NAPSA, which holds a 15 percent stake in the company.

At a cheque handover ceremony in Lusaka on Monday, Dr. Vibetti revealed that ZCCM-IH shareholders approved a total dividend of K243 million for the 2023 financial year, with NAPSA’s share being K36 million.

Last year, a historic dividend payment of K108.4 million was made for the 2021 and 2022 financial years.

Dr. Vibetti also noted that since 2015, NAPSA has received K263 million in dividends from ZCCM-IH.

NAPSA Director-General, Muyangwa Muyangwa, praised ZCCM-IH for its consistent profitability and positive impact on NAPSA’s financial liquidity.

He stated the importance of long-term strategic investment partnerships in achieving NAPSA’s vision of providing reliable social security services.

“We are committed to ensuring this partnership continues to thrive and deliver mutual benefits. Our quest to achieve organizational goals heavily relies on partnerships with organizations like ZCCM-IH,” Muyangwa said.

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Finance and National Planning Minister, Situmbeko Musokotwane, has expressed optimism that Zambia can generate about US$30 million annually in export revenue once the country reaches its target of producing three million tonnes of copper.

Speaking at the recent Economics Association of Zambia (EAZ) national economic summit in Lusaka, Musokotwane outlined the government’s plans for the mining sector.

Musokotwane projected that Zambia would produce around one million tonnes of copper by 2027, supported by favorable policies in the mining sector.

He explained that with the current market prices, producing three million tonnes of copper could yield approximately $30 million per year in export revenue.

“Beyond this, we are encouraging value addition. The mines must start making certain quantities of copper available for value addition locally,” Musokotwane said.

Read more: Musokotwane challenges economic experts to be credible, unbiased

He said the temporary challenges of drought should not be confused with the overall performance of the economy, asserting that the country’s economy would be the strongest ever in the next two to three years.

Musokotwane noted that Zambia’s copper production had stagnated between 600,000 and 800,000 tonnes per year over the past 60 years due to a lack of investment in the mining sector.

However, he highlighted that the government had implemented various policies to encourage increased production, aiming for an ambitious target of three million tonnes of copper.

“The issue of drought is temporary and mining is a long-term investment. The impact will start to set in over the next two to three years, but we will already see benefits starting next year,” Musokotwane stated.

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The Lusaka City Council (LCC) has addressed a surge in complaints about noise pollution from bars and nightclubs playing loud music.

LCC Public Relations Manager, Chola Mwamba, announced that the Council had mandated that all bars, nightclubs and liquor-licensed premises must ensure their venues are fully soundproofed.

Additionally, establishments are prohibited from playing loud music after 22:00 hours.

Read More: Lusaka City Council cautions bar, nightclub, casino owners over Valentine Day gatherings

Mwamba, in a statement issued on Monday, emphasized the severe impact of noise pollution on communities, including hearing loss, stress, anxiety, depression, cardiovascular problems, and high blood pressure.

She urged affected businesses to comply with the directive immediately.

“Failure to do so may result in closure, revocation, or reclassification of licenses,” Mwamba warned.

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The 46th Session of the UNESCO World Heritage Committee, held in New Delhi, India, has adopted a draft decision concerning the Victoria Falls World Heritage Site, incorporating amendments proposed by Zambia.

Naomi Mweemba, First Secretary Press at the Zambian mission in Paris, reported that the revised draft decision aligned with previous Committee decisions and supports the Joint Integrated Management Plan (JIMP) as a blueprint for infrastructure development.

Mweemba explained that the JIMP outlined improvements within and around the Victoria Falls site, including establishing precise boundaries, zonation and buffer zones to complete the retrospective inventory that began a decade ago.

“The Committee urges Zambia and Zimbabwe to finalise and harmonise the JIMP with national and transboundary plans. This includes limits on use, permissible activities, infrastructure and safeguards to mitigate development pressures,” Mweemba stated.

The draft decision was adopted without objection, with Kenya presenting the amendments on behalf of Zambia and the Republic of Korea and Rwanda offering support. Consensus was reached between Zambia, Zimbabwe and the World Heritage Centre prior to the adoption of the amendments.

Read More: Zambia implements $100 million green tourism development project

Mweemba noted that the International Union for Conservation of Nature (IUCN), an advisory body of the World Heritage Convention, was also involved in the discussions.

Zambia was required to include evidence in all management plans and State of Conservation reports showing that the Victoria Falls Livingstone Resort Hotel was adhering to mitigatory measures set by the Zambia Environmental Management Agency (ZEMA) and the revised JIMP.

Additionally, Zambia has allocated US$100,000 to support capacity-building programmes for sustainable development around the World Heritage site.

This funding reflected Zambia’s commitment to implementing the safeguards recommended by the World Heritage Committee in 2023, ensuring that the proposed Batoka Gorge Hydro Electric Scheme does not compromise the site’s Outstanding Universal Value (OUV).

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The Constituency Development Fund (CDF) Committee has allocated K1.6 million towards the establishment of irrigation schemes and drilling of boreholes in the Gwembe constituency.

Gwembe CDF Chairperson, Harrison Milambo, stated that the irrigation system would include the installation of solar panels, tanks and the purchase of pipes to support the initiative.

In a statement issued in Lusaka on Sunday, Milambo added that, due to limited resources, priority for setting up irrigation schemes would be given to clubs, groups, cooperatives and registered companies with access to existing water points such as boreholes, dams, and those near the lake.

Read More: Govt approves nine community projects in Gwembe constituency

“The initiative is aimed at addressing the devastating hunger crisis affecting both the district and the country as a whole. This approach is intended to avoid the additional costs of drilling new boreholes, which could impact the implementation of the program,” he stated.

Milambo mentioned that K600,000 would be allocated for drilling boreholes in areas most affected by drought to reduce the distance people cover to access water for their daily activities.

“The Minister of Local Government and Rural Development, Gary Nkombo, directed all local authorities to ensure that 50 percent of both CDF loans and grants are allocated towards drought response measures,” he said.

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The Ministry of Mines and Minerals Development says it has embarked on a US$98 million 18-month rocks and minerals survey in Zambia, prioritising Western Province.

Director of Geological Survey, Gerald Mwila, explained that the survey was being carried out using aircraft by a South Africa-based company, Excalibur Multi-Physics, the government engaged for the work.

Mwila disclosed this during the ministry’s sensitisation meeting in Mongu at the Weekend which focus area was to orient heads of departments on its operations.

“The ministry has zoned the country according to priority areas and deliberately started with Western Province because of inadequate knowledge of the minerals in the region hence an interest in finding out what is there,” he said in a statement issued in Lusa.

Mwila noted that the ministry had carried out a lot of mineral surveys and was also renewing its mineral areas inventory.

The ministry, he said, also wanted to acquire data to efficiently advise the Provincial Administration and the Barotse Royal Establishment on what is pertaining on the ground in the region.

“We want after gathering data of the mineral situation in the country to be able to advise prospective miners who would want to carry out mineral exploration in the country,” Mwila said.

Read more: Zambia’s leading mining firm, FQM, hit by power crisis

Western Province Deputy Permanent Secretary, Richard Mulwanda, said his office appreciated the message that the ministry brought, as they needed to be aware so that both parties would move in tandem.

Mulwanda said he was optimistic that a lot would come out of the mineral survey and wanted to see how best the outcome could be utilised to benefit the Province.

“I am sure that something will come out of the survey and I want to see how best we shall utilise what will come out of the survey,” he said.

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The African Development Bank Group (AfDB) president, Akinwumi Adesina, has reportedly outlined the Bank’s successes in mobilising financial resources for the continent’s development needs.

Adesina highlighted in a statement issued on Sunday that the Bank’s recent general capital has increased from US$201 billion to US$318 billion, as approved by the Board of Governors during its annual meetings in Nairobi last May.

The approval would enable Africa’s only AAA-rated financial institution to preserve its status and meet the continent’s urgent and increasing development needs.

He said this when addressing Heads of State and government at the sixth Mid-Year Coordination Meeting of the African Union (AU) on Saturday in Ghana.

Read more: AfDB says Zambia needs $3.5 billion annually for its structural transformation

Other highlights included joint efforts by the AfDB and the Inter-American Development Bank in developing a new financial model that enables the International Monetary Fund’s Special Drawing Rights to be channelled through multilateral development banks.

“I am delighted to inform you that following over two years of work, supported by the advocacy of the African Union, we succeeded,” Adesina told the meeting, attended by several Heads of State and government and representatives of regional economic communities.

“By so doing, we created a new asset class for investors globally. The hybrid capital will be leveraged four times to allow the Bank to boost its lending capacity,” Adesina said.

He also briefed the leaders about the progress the Bank is making in spearheading global efforts to ensure Africa’s natural wealth is taken into consideration as a measure of Gross Domestic Product.

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The government has called on the Economics Association of Zambia (EAZ) to provide credible and unbiased solutions to the country’s economic challenges.

Finance and National Planning Minister, Situmbeko Musokotwane, made this call at the EAZ National Economic Summit on Friday in Lusaka.

Musokotwane said that experts could offer the needed solutions by equipping themselves with knowledge and information.

“When there is an economic issue, people look forward to hearing from experts like you. Most people want to hear information on critical economic issues from professionals with a neutral, non-political view so they can be better informed,” he said.

Read more: Finance Minister, Musokotwane, presents K41.9 billion revised budget, as govt targets most vulnerable

Musokotwane highlighted that hosting the summit would help EAZ reset itself to gain professional respect, a responsibility that comes with being well-informed and unbiased.

“You need to ensure that you are armed with knowledge and information so that the opinions you offer are sound and unbiased. This is because people believe in EAZ to provide the most professional view. I am happy that you have chosen to bring the association to professionalism,” Musokotwane said.

He reiterated the importance of the EAZ in providing guidance on economic matters, urging the association to rise to the occasion by maintaining integrity and professionalism.

The summit, which brought together various stakeholders, aimed to address pressing economic issues and find viable solutions for the country’s economic growth and stability.

Musokotwane concluded by expressing confidence in the EAZ’s ability to influence positive change and contribute to Zambia’s economic development.

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The Agricultural and Commercial Cooperative Society of Zambia Limited (ACCSZL) has announced a budget exceeding K20 million for this year’s 96th Agricultural and Commercial Show.

Dr. Bernard Moonga revealed that Burundian President General Evariste Ndayishimiye and President Hakainde Hichilema would attend the event.

Speaking at a media briefing in Lusaka on Friday, Moonga mentioned that the budget was a moving target and may change as the show approaches.

This year’s show, themed “Creating a Competitive Future,” will run from July 31 to August 5.

“The 96th Agricultural and Commercial Show will proceed despite the severe impacts of climate change on our farming community and the country,” Moonga stated.

Read More: Zambian companies join over 300 exhibitors in S/Africa to market local opportunities at Meetings Africa Conference

He highlighted that exhibitors from China, Bangladesh, the Democratic Republic of Congo, Zimbabwe, Egypt, Burundi, Pakistan, among others, are expected to participate.

The show society anticipates over 1,000 exhibitors.

“The guest of honor will be the President of Burundi, General Evariste Ndayishimiye, accompanied by President Hakainde Hichilema,” Moonga added. “Ticket and badge prices will remain the same as last year’s.”

Moonga emphasised the show’s role in economic growth, connecting industries, and driving job creation.

This year, the Society would pilot electronic judging, following the success of electronic ticketing, which will be fully implemented at this year’s show.

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