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Zda Spotlight Development


Issue 8 October 31
Inside this issue:
Sale of Zamtel to Facelift its Value
8 Companies Qualify To 2
Participate in Zamtel Sale Radio Phoenix, Dr. Mu-
sokotwane said the issue
of RP Capital that some
54 Companies To Exhibit 2 people were raising was
At Lubumbashi Fair taken to court and resolved
and time had come for the
US$461 Actual Invest- 3 actual sale of the company
ment Recorded by ZDA to take place. He said gov-
ernment recognised the
strategic importance of
China Tops SA Export 4
Zamtel and was taking due
care to entrust it into the
right hands.
Nansanga Farming Block 5
Gets ‘Life’ For Completion “Zamtel is as of strategic
importance to Zambia as
Tourism Prioritised in 6 A strong infrastructure backbone is cardinal in enhancing the develop- the mines, which we priva-
2010 ment of a country. Above the city of Dubai shows part of a road network tised, hence government
(story on page 1 and 3) was carefully selecting an
equity partner in the sale of
Youth to Receive K250m 6 pany’s efficiency and contri-
Finance and National Plan- the company to ensure that
Empowerment Funds bution to economic develop-
ning Minister, Dr. Situmbeko a right partner buys equity
Musokotwane has said the ment, and people should give shares in the company,” he
sale of Zambia Telecommu- time to the Zambia Develop- said. The Minister said the
Points of Interest nications Company (Zamtel) ment Agency to complete the financial status of Zamtel
was being done in the inter- transaction without frustrat- demanded that majority
• “Zamtel is as of strategic ing its efforts. The Minister
importance to Zambia as the est of the public, as the com- shares were sold to an
pany has great economic said the Zambia Develop- equity partner to help re-
mines, which we sold, hence
government was carefully value, which was being inhib- ment Agency Act provided capture the company’s
selecting an equity partner in ited by financial challenges. specific guidelines on the actual value to the econ-
the sale of the company to privatisation process to en- omy and help reduce the
ensure the right partner buys Dr. Musokotwane said gov- hance transparency, which cost of doing business
the equity shares in the com-
ernment was looking for a have been followed by the being that ICT was at the
serious equity partner who Agency throughout, in the
could increase the com- sale of Zamtel. Speaking on Continued on Page 2
• “ZDA needed coordinated
support from all stakeholders
for the country to realise
meaningful benefits from the
Agency’s extensive func-
PS Calls For Improved Infrastructure…
• “Government would con-
tinue to reduce the cost of A strong infrastructure back- during his familisation visit of tion. Dr. Nsemukila said
doing business in the country bone in the country is cardi- the Agency, Dr. Nsemukila countries with well devel-
by facilitating reforms in the
nal in enhancing Zambia said improving basic infra- oped infrastructure faired
Information and Communica-
tion Technology (ICT) and Development Agency’s ca- structure such as road net- well on the Global Competi-
energy and labour sectors. ” pacity in investment, export works, rail systems and tele- tive and Doing Business
and MSE growth promotion, communications were para- Report, hence the need for
Ministry of Commerce, Trade mount in easing doing busi- Zambia to invest more in
and Industry Permanent ness in the country, and infrastructure development
“When buying shares, ask your- Secretary, Dr. Bulleti Nse- would make Zambia a com- in order to realise meaning-
self, would you buy the whole Continued on Page 3
company?” Rene Rivkin
mukila has said. Speaking petitive investment destina-


8 Companies Qualify To Partici- Government Counsels Zambians 54 Companies to Exhibit at the

pate in Zamtel Sale on Business Lubumbashi Fair
Eight international companies and con- Commerce, Trade and Industry Deputy ZDA Director of Export Promotions,
sortia have successfully prequalified to Minister, Richard Taima has said the low Glyne Michelo has said Congo DR is the
participate in the privatisation of Zam- number of individual-owned businesses largest market for Zambia’s non-
bia Telecommunications Limited in Zambia deprive the country of eco- traditional exports (NTEs) in the world
(Zamtel). The eight were among the 30 nomic development and affected the after South Africa and is by far the larg-
bidders who applied to prequalify in the attraction of foreign direct investment est single market in the COMESA/SADC
partial sale of the telecommunications (FDI) due to a weak domestic business trade area.
company after the Zambia Development base.
Agency (ZDA) officially announced its “In 2008, the DRC market accounted
privatisation in September this year. Mr. Taima said Zambians should take up for US$440 million of Zambia’s NTEs,
the challenge of establishing their own and preliminary export figures recorded
These include Orascom Telecom Hold- businesses that would make a founda- by ZDA from January to June this year
ings S.A.E/Telecel Globe of Egypt, Altimo tion on which FDI should build on to indicate export earnings of US$320
Holdings/Vimpelcom of Russia, Libyan strengthen the country’s economic posi- million,” Mr. Michelo said. Speaking
LAP Greencom Limited/LAP Green Net- tion. He said government was always in during a pre-mission briefing, Mr.
works, Portugal’s Portugal Telecom SGP the forefront to facilitate the growth and Michelo said the DRC provided the larg-
S.A; Telkom SA Limited of South Africa, the partnership of the private sector to est consumer market for Zambian
UNITEL of Angola and two of India’s ensure that Zambia’s abundant natural goods at minimal transportation costs
telecommunications giants Bharat resources were meaningfully exploited due to its proximity. He said the DRC
Sanchar Nigam Limited and Mahanagar through business ventures. Mr. Taima production industry was dormant and
Telephone Nigam Limited (MTNL). said the setting up of individual-owned commercial agriculture was largely non-
enterprises could contribute to the existent, thus offering Zambia huge
All the eight participants met the criteria
for prequalification as set out in the growth of the national economy and market opportunities.
invitation to prequalify, and are interna- wealth creation.
Fifty-four Zambian companies are par-
tionally recognised telecommunications ticipating in the Lubumbashi Trade Mis-
The Deputy Minister urged Zambians to
operators with a strong track record in sion in Congo DR, from September 28th
emerging markets investment. The pre- take advantage of their geographical
position to foster trade between Zambia to 30th October 2009. Exhibitors in-
qualified companies and consortia will clude those in the gemstone, leather
be invited to participate in the due dili- and its neighbouring countries. He said
most districts had vibrant business op- products, textile, handcrafts, and agro-
gence process, scheduled to commence sectors. Incentives to the exhibitors
on Monday 2nd November 2009 to 23rd portunities that needed to be utilised to
realise national development. Zanis include free transportation of exhibit
December. A process letter and an infor-
samples to the exhibition centre and
mation memorandum will be sent to
each prequalified participant setting out Sale of Zamtel to Facelift its free exhibition booths. ZDA invited Zam-
bian companies to the mission to give
in detail the structure and schedule for Value them an opportunity to showcase their
the due diligence, the procedure for
bidding, and providing a comprehensive From Page 1 products to the DRC market and to es-
tablish business links with prospective
overview of Zamtel’s activities. epicentre of business. buyers.
To maximise transparency and ensure “The current financial position of Zamtel
total confidentiality, the ZDA has estab- “Quality
Policy Essential to Make
demanded that a large percentage is
lished a secure virtual data room, allow-
given to a serious investor who can help Zambia Competitive”
ing prequalified participants to examine
to recapture the economic potential of Ministry of Commerce, Trade and Industry
all key Zamtel documents remotely. The
the company and contribute to people’s Permanent Secretary, Dr. Buleti Nsemukila
virtual data room will ensure candidates
welfare through its supplementary eco- has said there is need for Zambia to put in
gain access to same information and at
the same time. Participants will also be nomic effects to business,” place a national quality policy to make the
invited to make site visits to key Zamtel country’s products more competitive on
Dr. Musokotwane said the government the international market.
facilities, meet with management and and the equity partner in the company
other stakeholders and carry out their will then float their shares on the Lusaka Dr. Nsemukila said lack of a policy hin-
own assessment of the Zambian tele- dered the country from becoming competi-
Stock Exchange to enable Zambians
communications market. participate in the telecommunications tive and its products failing to penetrate
business. The minister has urged critics the regional market and beyond. He said
Before the close of the due diligence he would ensure that a draft policy was put
process, participants will submit a bid to the sale of the telecommunications
company to give time to the agency place in order to set standards for the
for between 51 percent and 75 percent country’s manufacturing sector before the
of the equity in Zamtel, based on their mandated by law to privatise parastatals
end of the year. He said that it was difficult
own evaluation of the company and the without making prejudicial conclusions. for Zambian products to compete favoura-
market opportunity. The initial bids will bly on the global market due lack of a pol-
be received, evaluated and short listed “Some people opposed the sale of Zam-
icy that addressed the quality of Zambian
by the ZDA. The announcement of the bia National Commercial Bank
products. He said investment and export
short listed bids will be made on 11th (ZANACO), and organised protests, but promotion was a challenge without quality
January 2010. Thereafter, successful now we are seeing the fruits of that standards for the country. “Once we have a
companies and /or consortia will be transaction from the facelift the com- policy in place, we will be able to produce
invited to take part in the next phase of pany has been given by its new owners,” products, which are competitive on the
the process. he said. international market,” said the PS.


PS Calls For Improved Infrastruc- State Eyes Total Shares Banks Counseled on MSE Prod-
ture (From P1) Government is negotiating with Total
iful development. “Let us do the basics International to buy the company's 50 Commerce, Trade and Industry Minister,
first to enable you (ZDA) meet your invest- per cent shares in Indeni Petroleum Felix Mutati has urged commercial
ment and export promotion targets by Refinery, Ministry of Energy and Water banks to simplify their financial prod-
investing in infrastructure,” he said. “Let Development Permanent Secretary, ucts, particularly legal technicalities for
us build quality infrastructure to improve Peter Mumba has said. medium and small enterprises (SMEs) to
on the standards of our products and com- facilitate easy access to such facilities.
pete favourably in the region.” And the Government has said Total's
Mr. Mutati said SMEs were in a hurry to
decision to sell its stake in Indeni will
contribute to the development of the
He said with the coming of the COMESA not affect the supply of fuel because the
economy hence the need for banks to
customs union, Zambia would be swarm Government took over the supply of
make their products simple and flexible
over if no proactive measures were taken crude oil from Total more than two years when processing loans for such a vi-
to improve on infrastructure and product ago. Mr. Mumba said in an interview
brant sector.
qualities. He urged the ZDA to devise that the Government had over the past
mechanisms that would attract investment few months engaged in talks with Total Speaking when Standard Chartered
in the area of infrastructure as all sectors to buy the shares although the company Bank Zambia launched October as the
had indicated that it had identified a Africa SME Month, Mr. Mutati said sim-
depended on it to attract investment that
willing buyer of its shares.” plification, urgency and flexibility were
would spur growth in the economy. Dr.
three important pillars which should
Nsemukila said other investment promo- As Government, we have been talking
always be considered by banks when
tion agencies had specific roles, but the with Total over our intentions to com- processing loans for SMEs. He said
mandate of ZDA was different as it em- pletely take over the refinery as the sole
prices of goods often keep on changing
braced all sectors of the economy, which owners and talks have now reached an while the demand was also shifting,
made it a national development agency advanced stage," he said. The Govern-
hence making it difficult for entrepre-
and critical player in the realisation of ment and Total International are the neurs to plan and do their businesses
Zambia’s development targets. “You have joint owners of Indeni with 50 per cent when loan processing takes time. Mr.
the mandate to attract investment in the shares each. Mutati said government would continue
whole economy, therefore push your fron- Mr. Mumba said the discussions be- to improve the macroeconomic environ-
tiers to meet the market demands,” he tween the Government and Total on the ment so that it acted as a motivation to
urged ZDA. future of Indeni Petroleum Refinery in grow the economy and was hopeful that
Ndola started last year. He said the Gov- Zambia would end this year with a single
“ZESCO has no mandate of attracting in- ernment was committed to buying the digit inflation rate.
vestment to improve its infrastructure, Total shares and had temporarily sus- And Mr. Mutati said government would
neither does RDA, they all depend on you, pended plans to engage a third strategic continue to reduce the cost of doing
thus be proactive to live by your national partner to join Total and the Govern- business in the country by facilitating
mandate.” He said ZDA should not confine ment. reforms in the Information and Commu-
itself to the Ministry of Commerce, Trade nication Technology (ICT) and energy
US$461 Actual Investment Re-
and Industry, as its mandate was too and labour sectors.
broad. The PS has since urged ZDA to corded by ZDA in 2007
Meanwhile, Standard Chartered Bank
package specific information for specific Zambia Development Agency has re- Zambia Managing Director, Mizinga
markets in portable disks that would be corded more than US$461 million ac- Melu said the bank’s success in its SME
easy to browse for key information on in- tual investment from the 2007 invest- Africa preposition had been achieved by
vestment opportunities in Zambia. ment pledges. The actual investment is rigorously pursuing its strategy of
out of the US$1.7 billion investment launching new, innovative and tailor-
In response ZDA Director General, Andrew pledges that were proposed by different made products. Standard Chartered
Chipwende said ZDA needed coordinated investors in various sectors of the econ- Bank has SME banking units in Bot-
support from all stakeholders for the coun- omy. swana, Ghana, Kenya, Nigeria, Tanzania,
try to realise meaningful benefits from the Uganda, Zambia and Zimbabwe.
According to the Agency’s monitoring
Agency’s extensive functions. He said com-
and evaluation data, US$461, 699, 106 Investment Policy Formulation on
prehensive studies of investment opportu-
was the actual investment by the end of
nities in all sectors were needed to enable 2007 from the pledges investors had Track…
ZDA identify investors who would develop made during the year. The actual invest- An investment expert who has been en-
them. Mr. Chipwende said such studies ment translates into more than eight gaged by the Ministry of Commerce, Trade
would provide a clear picture of those pro- thousand job opportunities across the and Industry to provide technical assis-
jects and the kind of infrastructure avail- country. tance on the formulation of Zambia’s In-
able in those areas such as telecommuni- vestment Policy is in the country to consult
cations, water system, road networks, Zambia Development Agency conducts stakeholders and obtain information rele-
among others. He said such details were annual monitoring and evaluation of vant to the formation of the policy. Mr.
investment pledges made in a particular David Lovegrove, the consultant, is meeting
important in every investment promotion stakeholders from key ministries, institu-
time frame to ascertain how much of
mission as they enabled investors predict tions and associations on investment pro-
those pledges translate into actual in-
the returns on their investment in line with vestment and their impact on the do- motion including Zambia Development
available support systems in the areas mestic economy in terms of jobs and Agency, Zambia Revenue Authority and the
they were pumping their money. business community, as well as the Cham-
wealth creation.
bers of Mines and Minerals, among others.

Regional Spotlight

China Tops SA Export Stakes Ecobank Named African Bank of SADC IPAs Prepare for 2010 FIFA
Despite the global recession, South Af-
the year World Cup
rica’s trade with Asia remains robust Ecobank has been named African Bank ZDA was among SADC investment pro-
and China has become the country’s top of the year at the 2009 African Bankers motion agencies (IPAs) that attended an
export destination after replacing the Awards recently held in Istanbul. Ac- IPAs CEO’s Forum in Botswana to plan
United States, which moves into second cording to an Ecobank press release on for 2010 investment promotion strate-
place. The position reinforces the Asian its website, the Award Ceremony took gies in readiness for the FIFA 2010
country’s push to build trade links with place alongside this year’s World Bank/ World Cup which will be held in South
Africa. IMF Annual meetings in Turkey, and was Africa.
attended by African bankers, finance
According to SA’s Department of Trade The main objective of the Forum was to
ministers, central bank governors and
and Industry (DTI) China’s trade with SA prepare an investment promotion strat-
officials of multilateral development
had an annual growth of 53.9 percent, egy and road map for 2010 that will pro-
while the US exports decreased by 42.6 institutions among other guests.
vide a framework to guide, inform and
percent. China took 11.9 percent of the The award was received by the Bank’s coordinate the investment promotion
total market, the US 8.3 percent and Group Executive, Arnold Ekpe, who said activities of the region. The Forum is
Japan 7.5 percent. The DTI customs he was pleased to receive the prize on expected to coordinate investment pro-
data shows that in 2008, Japan, the behalf of the Group’s 11, 000 staff in 28 motion activities at member state level,
United States, and Germany were SA’s countries across the continent. And Mr. aimed at the Confederation of African
top export markets, while Germany, Ekpe commended the Ecobank’s alli- Football (CAF) and FIFA activities in
China and the US were the top import ance partner, Nedbank for its impressive 2010, indicated the Forum’s draft strat-
markets. show at the event and other banks that egy paper.
distinguished themselves with the provi-
The data indicated that South Africa’s The coordination of the activities will be
sion of banking services to African peo-
exports to China stood at R27.6 billion done within the context of existing SADC
by June 2009, against R35.8 billion for ple.
regional programmes in order ensure all
the whole year in 2008. “Together, we can all make a positive member states operate within a level impact on the economic growth of this platform and also to eliminate any imbal-
continent,” he said. ances that may arise due to different
FDI in Zimbabwe Rises even resources available to each member
amidst Crisis Kwacha to Lead African Curren- state.

Despite the worsening economic condi-

cies Appreciating in 2010 “IPAs play an important role in ensuring
tions in Zimbabwe, a report by the that investment takes place in the re-
ABSA Capital Bank has predicted that
United Nations Conference on Trade and gion, and contribute to the attainment of
major African currencies, except for
Development (UNCTAD) has highlighted deeper regional economic integration
Angola’s Kwanza and Ghana’s Cedi, will
a marked improvement in foreign direct and poverty alleviation,” the paper indi-
strengthen against the US Dollar in cated. The meeting agreed that the draft
investment (FDI) in the country from 2010 as a rebound in the global econ-
US$40 million in 2006 to US$69 million 2010 strategy should form the basis for
omy boosts prices of the region’s com-
last year. the Forum’s terms of reference.
modity exports.
UNCTAD’s statistics came as the Zim- The Forum urged IPAs to clearly articu-
The Zambia Kwacha will lead the gains, late their objectives in the activities
babwe Investment Authority (ZIA) indi- appreciating by 14 percent to 4,095 per
cated an upsurge in enquiries on the where their involvement was require-
Dollar by end of 2010 on an advance in ment, such as in the production of pub-
back of a political settlement reached copper, which accounts for about 70
between ZANU-PF and the MDC. “We licity materials, participation in interna-
percent of the country’s exports, Amal- tional conferences and the SADC village.
have seen a serious interest on Zim- gamated Banks of South Africa (ABSA)
babwe in the past few weeks,” said ZIA The Forum also recommended that
forecasted. The Kwacha had strength- SADC Embassies abroad should be in-
Chief Executive Richard Mubaiwa. “A ened by 3.2 percent in 2009 to 4,640 volved in implementing the strategy as
recent conference on investment in Zim- per dollar during the period under review they could play a critical role. The theme
babwe that was held in South Africa at after declining 19 percent in 2008. for IPAs’ campaign is “1 Team – 15 Na-
the Development Bank of Southern Af-
rica headquarters showed that there is Tanzania’s shilling may gain 8.1 percent tions for Investment.”
interest on Zimbabwe after the political as gold climbs.” The story of Africa is still
settlement.” the story of commodities,” Ridle Markus, SA Key Emerging Market
a Sub-Saharan Africa strategist at ABSA, South Africa has been identified as one
Eskom To Raise Tariffs By 45% owned by Barclays Plc said. “African of the key emerging markets for global
currencies might show a surprise recov- investors, moving up to fourth position,
South Africa’s power utility Eskom has ery next year if the global economy re- according to a new research published
defended its application to raise tariffs covers and the commodity cycle contin-
and said it was in favour of increases of by the UK Trade & Investment.
ues to show upside.” African currencies
45% per year over three years. Eskom from Nigeria’s Naira to Angola’s Kwanza Addressing the Economist Intelligence
Chief Executive Officer Jacob Maroga slumped last year as the global reces- Unit’s Emerging Markets Forum, the UK
said the utility’s current charges were sion eroded demand for commodities. Secretary of State Lord Peter Mandelson
too low to allow for a return in earnings; Economic growth in Africa is expected to revealed the findings of the report which
it is proposed to hike tariffs by either rebound to 4 percent in 2010 from 1.7 examined global business attitudes to
45% per year over three years or 146% percent this year, the International emerging markets in the light of the
in a single increase. Business Times. Monetary Fund has revealed. global downturn.


RB Supports Africa South Amer- MFEZs, Industrial Parks to At- Nansanga Farming Block Gets
ica Trade tract Huge Investment ‘Life’ for Completion
President Rupiah Banda has said im- Chambishi and Lumwana Multi-Facility Nansanga Farming Block has been allo-
proved trade and investment between Economic Zones (MFEZs) will facilitate cated K26 billion in the 2010 national
Africa and South America is important investment inflows of more than US$1 budget to complete the remaining works
for the two regions’ economic advance- billion and US$1.2 billion respectively in in the Farming Block to boost invest-
ment. Mr. Banda said in view of im- the individual economic zones, ZDA Sen- ment into the area. The allocation is in
proved trade and investment, Zambia ior MFEZ Officer, Mr. Shadreck Saili has addition to the budgeted resources of
will support the proposal by South said. K42.4 billion to the Farming Block in
American countries to establish a Bank 2009 for electricity lines and water de-
of the South. Eight companies out of the expected
velopment, which have been realised.
sixty to be established in the Chambishi
He has called on member countries from MFEZ have been licenced to operate in Minister of Finance and National Plan-
the Africa -South America (ASA) regions the zone, with the anchor company ning, Dr. Situmbeko Musokotwane also
to support the idea and work towards Chambishi Copper Smelter being in full said an additional K3 billion has been
overcoming all obstacles that may hin- operation. allocated for the construction of dams in
der its formation. Speaking at the 2nd the area. During the 2010 budget pres-
Africa South America heads of State and Mr. Saili said so far over US$100 million
entation, Dr. Musokotwane said govern-
Governments summit in Venezuela, Mr. besides the US$300 million invested in
ment had already begun to market the
Banda said Zambia supported the pro- Chambishi Copper Smelter had been
Farming Block aggressively to investors.
posal for the establishment of a bank to spent on infrastructure development
“From the promotion efforts that have
be sponsored by Venezuela, Brazil, Ar- such as the electricity substation, roads
been undertaken this year, substantial
gentina, Uruguay, Paraguay, Bolivia and and water systems. “Total proposed in-
interest has already been expressed in
vestment by the eight licenced MFEZ
Ecuador. the Block,” he said.
enterprises in the Chambishi zone was
He said Zambia believed that the Bank more than US$414 million.” The enter- The Minister said similar infrastructure
of the South will be an important finan- prises in this zone are mainly involved in development works will commence in
cial institution that would establish a the processing of copper into various Luena Farming Block in Kawambwa next
new international financial architecture products, manufacture of building mate- year, and K3.4 billion has since been
and enable member states to access rial, sulfuric acid and mechanical compo- allocated for preliminary work in 2010.
credit facilities. The President said the nents. “This Farming Block is an area with vast
establishment of the bank would accord potential for development of the sugar
Meanwhile, Mr. Saili said over 90 enter-
member states an opportunity to industry,” Dr. Musokotwane indicated.
prises undertaking various priority sector
achieve mutual economic development
activities were expected to invest in the The agriculture sector provides a lot of
and enhance self-determination as well
Lumwana MFEZ and create about 13, economic opportunities for Zambia that
as a leverage of the people and nations 000 job opportunities by 2020. He said
of the South. need to be enhanced by improved infra-
the US$1.2 billion proposed investment structure development such as road
“It is worth noting that Zambia is aware in the zone would support various indus-
networks, electricity and water systems.
that the Bank of the South will undenia- trial sectors including agricultural proc-
With improved infrastructure in the sec-
bly contribute to the creation of a condu- essing and fisheries development and
tor, the Zambia Development Agency will
cive environment that will facilitate and processing. find it easier to attract investment into
improve trade relations and enhance “Apart from these two major MFEZ pro- the sector. As the 2009 World Invest-
investment portfolios between the two jects, there are two industrial parks; the ment Report indicates, countries with
continents.” Mr. Banda said the princi- Sub-Saharan Gemstone and Roma, well developed agricultural infrastruc-
ples of bi-regional development and the which will create about 6, 800 employ- ture relatively recorded more investment
objectives of South-South co-operation ment opportunities from the proposed than those that were recorded in other
on which the roots of the Africa South US$56 million investment,” Mr. Saili sectors during the economic crisis. Thus,
America relations are anchored point to indicated. The Sub-Saharan Gemstone improving infrastructure in the agricul-
the desire to foster political ties, eco- Industrial Park is located in Ndola, ac- ture sector will put Zambia in a better
nomic cooperation and social collabora- commodating more than 20 companies. economic position in future.
tion among the countries of Africa and It is expected to create 4, 000 new jobs
South America. Zanis opportunities. More than US$ 8 million Zamtel Staffs to be Trained…..
has already been invested in the rehabili-
New ToH Project Progressing tation of infrastructure in the park. The ZDA has designed a training programme
for Zamtel employees to prepare them for
Well…... Roma Park on the other hand is located
the partial privatisation of the company.
in Lusaka beyond Roma Township.
The Triangle of Hope (ToH) coordinating The programme is meant to prepare
team has completed its review meetings them psychologically for possible repa-
MSE Business Clinics Intensified triation and on how best they can invest
with implementing ministries on the first
wave of the project in readiness for com- ZDA has started conducting business their separation benefits since privatisa-
mencement of the project’s new three clinics as part of the second phase of its tion is characterised by reductions in
year lease by the Japanese International training activities for micro and small work force, MSE Training Manager,
Development Agency (JICA). The main enterprises (MSEs) on market and finan- Gabriel Musentekwa has said.
objective of project is to assist in the cial access in various parts of the coun-
creation of a favourable environment The training on entrepreneurship skills
try. The business clinic programme has
where the private sector creates more and business management will be done
been rolled out in Mansa and Kasama
through the company's existing training
jobs and generates greater wealth. and it will later be conducted in Chipata

Zambia Development Agency

Nasser Road
1. Inflation rate (%) 14.2 13.0
Lusaka, Zambia 2. Average 91 Day Treasury bills rate (%) 12.3 15.6
3. GRZ Bond Yield Rate: (24-month) (%) 14.9 18.4
4. Average Lending Rate (%) 25.7 29.6
Tel: 260-211-220177 5. Exchange Rates: (ZMK/foreign currency)
US$ 3,500 4,500
Fax: 260-211-225270 5,100 6,600
E-mail: BPS 6,600 7,400
RSA 450 600
Website: 6. Agriculture Commodity Prices:
Maize - -
Wheat - 330
Soya beans - -
7. Capital Market Activity
Equity trading:
Number of Trades 664 653

Volume of Trade 33,414,000 64,936,000

Turnover (US$) 6,148,000 5,612,000

Foreign Portfolio Investment: (US$)

Inflows (Buying) (US$) 2,484,000 857, 000

Promoting Economic Growth Outflows (Selling) (US$) (2,454,000) (857,000)
and Development Net Position (US$) 29,800 (1,748,000)

Source: BOZ, CSO,LuSE,Zamace

Zambia Development Agency

Youth to Receive K250m heard about
Future Search
and later attended the ZDA training on
Tourism Prioritised in 2010
Empowerment Funds business management, which changed Government has continued attaching
his perceptionabout
his perception aboutbusiness.
business. “I at- great importance to the tourism sector
A 23 year-old- youth, who has been in
tended training by the ZDA on enterprise in its economic development strategies,
the business of stone crushing, has “I attended training
development and by the ZDA on
business enter-
manage- and has since increased the budgetary
qualified to receive K250 million from prise early
ment this year,and business
which inspiredman-
me allocation to the sector from K50 billion
the Citizens Economic Empowerment agement early
to apply for thethis
CEECyear, which
funds inspired
after learn- to K95 billion in next year’s budget.
Commission (CEEC) to enable him ac- me howto apply for the CEEC funds after
ing to write a bankable business
quire industrial equipment for the ex- learning how to write a workable busi-
proposal,” Chanda said. During the 2010 budget presentation,
pansion of his business. ness proposal,” Chanda said. Minister of Finance and National Plan-
Chanda whose parents died in 1991 ning, Dr. Situmbeko Musokotwane said
Mathews Chanda, who qualified for the
and 2001 respectively, urged other government’s focus in tourism was on
funding early last month, has since ac-
youths to take advantage of develop- the construction of vital infrastructure
quired a hydraulic block making ma-
mental programmes that were being that will boost investment inflow in the
chine and a truck for hire to diversify his
initiated by government to empower sector.
business from stone crushing under the
themselves and contribute to the econ-
name Chiflomu Investment Company. omy. He said as the future of Zambia, “I have allocated K95 billion towards
The company has created employment youths should aim to be business own- development of the Northern Tourism
for 15 people who operate the block ers by utilising available resources and Circuit, which was allocated K50.7 bil-
maker and stone crusher and help run empowerment programmes put in place lion towards infrastructure projects in
to enable them take part in the eco- 2009,” Dr. Musokotwane said of that
the enterprise.
nomic development of Zambia. K20 billion will be used for on-going
Chanda has commended the ZDA, espe- construction of the road from Mbala to
cially the MSE Division for the role it The MSE Division of the ZDA has the Kasaba Bay, while K70 billion will be for
played in helping Chiflomu Investment mandate of providing services that the electrification of the area and K5
write a business proposal and plan on stimulates the development of SMEs billion for the rehabilitation of the Ka-
how to invest the money. He said he through training and provision of market saba Bay a Airport.