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Airtel Zambia Ordered to Pay K4million in Compensation After Nationwide Data Outage

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Airtel Zambia Ordered to Pay K4million in Compensation After Nationwide Data Outage

Airtel Zambia Plc has been directed to compensate its customers with approximately four million Zambian kwacha following a widespread data services outage that disrupted connectivity across several provinces on Sunday, February 2, 2025.

The directive was issued by the Zambia Information and Communications Technology Authority (ZICTA), the nation’s telecommunications regulator, in response to the three-hour service disruption that affected subscribers in Lusaka, Southern, Western, Central, and Eastern provinces.

Hanford Chaaba, ZICTA’s Corporate Affairs Manager, confirmed the compensation order in a statement released on Tuesday. “The outage significantly inconvenienced consumers, and Airtel has been instructed to compensate all affected customers accordingly,” Mr. Chaaba said.

The regulator has also mandated Airtel Zambia to implement robust mechanisms to prevent future network failures and ensure strict compliance with consumer protection guidelines. Mr. Chaaba noted that ZICTA remains concerned about the recurring nature of service disruptions on Airtel’s network.

“We expect Airtel to address the root causes of these outages and improve the resilience of their infrastructure to maintain service reliability,” he added.

Airtel Zambia, one of the country’s leading mobile service providers, has faced mounting criticism from customers over the consistency of its network services. As digital connectivity becomes increasingly vital for business operations, education, and personal communication, the impact of such outages has drawn heightened scrutiny from both regulators and the public.

Airtel Zambia has not yet issued an official statement regarding the directive or outlined how the compensation will be disbursed to affected consumers.

Is President HH Banking on UNIP’s 1996 Blunder to Win His Second Term?

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Is President HH Banking on UNIP’s 1996 Blunder to Win His Second Term?

By Kapya Kaoma

When the Constitutional Court ruled to block Lungu from contesting the 2026 elections, no sensible person was surprised. President HH dismissed and replaced the three judges responsible for their earlier ruling that had deemed Lungu eligible to contest the 2021 elections—which he ultimately lost. The fact that the newly appointed judges ruled in favor of HH was unsurprising; after all, ‘He who pays the piper calls the tune.’

What did astonish me, however, was how little effort was made to connect that ruling with the events of the 1996 elections. Much like President HH, Chiluba had become increasingly unpopular during his first term. In just three years, Zambians, like the Hebrews in Egypt, longed to return to the Kaunda era. People missed the golden years when they lived better. Whenever Kaunda held campaigns, he drew large crowds—something that made Chiluba insecure. Despite preaching democracy and freedom, Chiluba resorted to terrorizing his opponents. In fact, he even shot at Kaunda, missing him by mere inches. When all else failed, Chiluba sought to change the Constitution, rendering Kaunda stateless. Muhabi Lungu represented Kaunda in challenging the parentage clause that stipulated both parents must be Zambians by birth or descent. Since Zambia’s independence in 1964, no individual whose parents were born before that year is eligible for the presidency. Tragically, the Chiluba judges ruled against Kaunda, declaring him stateless. Years later, when Mr. Sata attempted to prevent then-Vice President Rupiah Banda from contesting the elections on the claim that his mother was from Zimbabwe, the court ruled in favor of Banda. Why? Because his party was in power.

I find it difficult to respect the Zambian courts–they are owned by the party in power. Regardless of personal allegiances, it’s evident that our justice system is deeply flawed. Why should rulings always go in favor of the ruling party?

Paulo Freire links education to questioning rather than merely absorbing knowledge. He argues that state-sponsored education is premised on preserving the status quo. Students are seen as sponges to absorb what the state considers “good” education. A good teacher deposits knowledge into a student for safekeeping—hence the banking concept of education. By “good,” Freire means maintaining things as they are. There is no room for questioning—only belief. This type of education fails to facilitate transformation and is an instrument employed by the elite to keep people in a cycle of poverty and oppression. Questioning enlightens the conscience and gives birth to a genuine desire for freedom and liberty, which poses a threat to the oppressor.

Of course, very few young people are aware of the events of 1996. The history taught in Zambian schools scarcely mentions this transformative period. Thus, HH appears to be playing the same game Chiluba did, with seemingly similar results—possibly winning the 2026 elections after neutralizing his biggest threat, Edgar Lungu.

In 1996, UNIP boycotted the elections while smaller parties opposed the MMD. As a result, Chiluba won his second term. Will Edgar Lungu and his supporters fall for the same? Boycotting is off the table! They must fight. Wasting time in courts is also futile—they are likely to rule in favor of HH.

The answer lies in the hands of citizens. We possess the power to tell corrupt judges that enough is enough. They are public servants, not agents of the ruling party.

President HH is convinced he is beloved by all Zambians. Shouldn’t he be excited that he will humiliate Lungu at the polls in 2026? The truth is that HH is terrified of Lungu. The Constitutional Court eliminated Lungu without him ever entering the ring. As citizens, it is time to hold the court accountable by demanding impartial rulings. A “No Lungu, No Elections?” campaign could send a strong message to all judges that we object to politically motivated rulings. This is key to safeguarding our democracy.

A word of caution to the opposition: don’t be deceived into thinking Lungu must be replaced by someone else. This is precisely what President HH is hoping for—he wants to run against a weaker candidate, one without a record; someone who will make similar promises to those once made by candidate HH. Remember, ‘The devil you know is better than the devil you don’t.’ It’s a winning strategy for HH.

President Hichilema kick starts visit to Japan with visit to Toyota Motors

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President Hichilema kick starts visit to Japan with visit to Toyota Motors

President Hakainde Hichilema began his four-day working visit to Japan this morning with a train ride from Tokyo to Nagoya City, where he toured Toyota Motors Corporation.

During the visit, President Hichilema held productive discussions with Toyota Tsusho Corporation’s leadership, led by Group President and chief executive officer Ichiro Kashitani. As the world’s largest automobile manufacturer, producing approximately 10 million vehicles annually, Toyota’s interest in expanding its investment in Zambia is a significant development. Toyota Tsusho is exploring opportunities beyond the automotive sector, with plans to diversify into energy and pharmaceuticals.

President Hichilema encouraged the corporation to capitalize on Zambia’s favorable investment climate, abundant natural resources, and mineral wealth by investing in value-addition ventures that support their manufacturing supply chain. He specifically urged Toyota to establish a parts manufacturing plant in Zambia that could integrate with Toyota’s manufacturing operations in South Africa.

In a statement, State House chief communication specialist Clayson Hamasaka said the President also called on Toyota Tsusho Corporation to expedite the resumption of feasibility studies for the proposed PV solar power station in Zambia. He emphasised the government’s commitment to energy security through diversification away from hydroelectric power. The New Dawn administration, he noted, has introduced reforms to open the energy sector to private investment, recognising energy as a key driver of economic growth and industrial production.

As Zambia’s Chief Marketing Officer, President Hichilema reaffirmed his dedication to positioning the country as a prime investment destination, fostering economic development, and creating job opportunities, particularly for the youth.

By Benedict Tembo

President Hakainde Hichilema has arrived in Tokyo, Japan for an official visit

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President Hakainde Hichilema has arrived in Tokyo, Japan for an official visit

President Hichilema touched down at about 22:30 Japan Standard Time, aboard an Emirates Boeing 312, at Haneda International Airport in Tokyo, Japan.

The Head of State was received by Japan’s State Minister for Foreign Affairs, Hisayuki Fujii, and Japanese Ambassador to Zambia, Takeuchi Kazuyuki, Zambia’s Minister of Foreign Affairs and International Cooperation Mulambo Haimbe, Zambia’s Ambassador to Japan Tobias Mulimbika among other senior government officials from both Zambia and Japan.
Government officials who accompanied the President included Minister of Infrastructure, Housing and Urban Development, Charles Milupi and Minister of Commerce Trade and Industry Chipoka Mulenga.

While in Japan, the Head of State is expected to have an official meeting with the Prime Minister of Japan, Ishiba Shigeru, and also pay a courtesy call on the Emperor of Japan His Majesty Naruhito.
President Hichilema will also undertake strategic meetings with multinational companies in the cities of Nagoya and Kyoto.

President Hichilema is also expected to address the Zambia Japan Business Forum which has attracted the attendance of Zambian business players and investors from Japanese investors.
This visit provides Zambia with a platform to deepen bilateral cooperation and explore new opportunities in trade, renewable energy, healthcare, and education.

Is Trump’s Suspension of Foreign Aid the Catalyst Africa Needs?

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Is Trump’s Suspension of Foreign Aid the Catalyst Africa Needs?

In a move that has ignited serious debate across the globe, President Donald Trump’s decision to temporarily suspend foreign aid to Africa is a wake-up call to the continent. While many view this decision as mean-spirited, it provides an opportunity for self-examination. Africa continues to struggle to achieve economic independence since gaining its independence. This pause on aid, albeit temporary, presents a chance to reassess our over-reliance on donors. Since its independence, Africa has existed as a street kid, always begging for handouts.

Frankly, it is disappointing that this suspension is not permanent; until the continent charts its own economic course, it risks remaining beholden to Western countries. African nations exist only in name, while their economies are manipulated by those who disguise the continent’s exploitation as aid.

So, what is wrong with Africa? Which child does not long to walk independently? We fought for self-governance, yet we consistently find ourselves returning to our former colonizers, extending our hands for mere scraps. This dependency syndrome has persisted over the years, contributing to our lack of foreign influence. The absence of veto power in the United Nations illustrates our ongoing subservience to those who control our nations. One may sit at the same table as their master, but ultimately, the master retains the final say. This is Africa’s position in global politics—the size of the continent and its people do not carry the weight they deserve.

In her book Dead Aid, Dambisa Moyo warns of a future where reliance on foreign aid creates a cycle of dependency that hampers true development. The pattern of aid-driven development has transformed our international relations into a system of begging, leaving our foreign policy at the mercy of funders. When our leaders travel abroad, they do so to solicit minimal support, trading our valuable resources for paltry donations. One can safely ask, “Is continuous foreign aid keeping Africa underdeveloped?” The answer is affirmative. If aid had truly worked, we would have developed decades ago. Our education and public health systems are primarily aid-driven, leaving us vulnerable to our colonial masters. After decades of self-rule, we remain unable to provide clean water or sanitation to our people, Zambia being an excellent example. This is despite our politicians boasting of billions in assets. As citizens, we live on donor funding while politicians thrive on our backs. They know that America, Japan, and the European Union will always open their pockets to stop us from starving to death, so they steal our money at will. It is time to grow up!

I am excited that the Trump administration may finally compel corrupt African leaders to rethink how they view their people. For decades, African leaders have taken pride in foreign-aided development. They usually claim credit knowing too well that the majority does not realize it came from America, China, or Japan!

The cycle of donor-driven development won’t empower Africa until we learn to use our own vast resources. In other words, achieving economic independence requires weaning ourselves off foreign handouts and leveraging our resources to foster African driven economic growth. Unfortunately, Western nations, through their aid, only give just enough to feed the donor dependency syndrome rather than facilitate genuine development. Their aid is meant to keep us at the bottom of the economic ladder! Marcus Garvey was right—Black people are often at the bottom of all human races. Until we fight to rise to the top, our fate is permanently fixed.

I pray that Trump’s decision stands. Our families do not thrive on handouts; we find ways to sustain themselves using the resources we have. So, why should states operate differently? We possess all the resources needed to develop our nations, along with brilliant minds, many of whom are teaching and working in donor nations. Why shouldn’t we tap into this talent to develop Africa?

Now is the time for Africa to reflect, regroup, and start a new path toward true self-sufficiency. Trump’s decision may indeed be the catalyst Africa needs.

Kapya Kaoma

Trump’s tariffs gamble: Markets were warned, yet complacency reigned

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Trump’s tariffs gamble: Markets were warned, yet complacency reigned

Markets were warned by Trump. Yet, despite clear signals, investors remained complacent—until now.

The shockwaves of US President Donald Trump’s aggressive tariff policies are rattling global markets, sending currencies lower, stock markets tumbling, and igniting fresh fears of inflation and economic instability.

“The writing was on the wall,” says Nigel Green, CEO of global financial giant deVere Group.

“This was entirely foreseeable. Yet, too many market participants buried their heads in the sand, convinced that the worst wouldn’t materialize. Now, the consequences are here, and investors need to act—fast.”

The dollar surged while equities and major currencies slumped following Trump’s decision to impose tariffs on imports from Canada, Mexico, and China.

“The Canadian dollar hit its weakest level in over two decades, the euro extended its decline after Trump doubled down on tariffs on EU goods, and the Mexican peso suffered losses as trade tensions escalated,” notes the deVere CEO.

US Treasury yields swung as investors flocked to safe-haven assets. A spike in short-term yields underscored growing concerns that inflationary pressures will intensify, keeping US interest rates higher for longer. Meanwhile, safe-haven bets drove down yields on longer-term bonds, signaling fears of economic damage beyond US borders.

Nigel Green continues: “This is a colossal economic gamble.

“Trump’s tariffs are having an impact across asset classes, from equities to bonds to commodities. The bet is that tariffs will stoke inflation and force central banks to maintain or even hike rates. This is a dangerous game.

“Stock markets, particularly in Europe and Asia, suffered significant declines, with investors scrambling to reposition their portfolios. Asian markets bore the brunt, as Hong Kong, Japan, South Korea, and Taiwan posted steep losses. Meanwhile, oil prices surged amid concerns that tariffs on Canada and Mexico could disrupt North America’s energy supply chain, pushing up fuel costs for American consumers.”

Adding to the turbulence, cryptocurrencies were not spared. Bitcoin and Ether saw sharp declines, with the latter experiencing its steepest loss in nearly four years before partially recovering.

Investors are now bracing for a prolonged period of volatility.

Nigel Green asserts that those who have not yet adjusted their portfolios should consider doing so immediately.

“The markets will remain highly reactive in the coming days and weeks. Investors must position themselves strategically to mitigate risks and seize opportunities as assets reprice.”

With Canadian and Mexican leaders unveiling retaliatory tariffs and China vowing countermeasures, the economic landscape is shifting rapidly. Trade-sensitive sectors—including manufacturing, technology, and consumer goods—are expected to face sharp adjustments as companies reassess supply chains and costs.

“Investors mustn’t repeat the mistake of inaction,” concludes the deVere CEO. “This is the wake-up call.”

Why ZACCI-IDC Formalization Program Benchmarked on Latin America

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Why ZACCI-IDC Formalization Program Benchmarked on Latin America

How Formalization Transformed Brazilian Economy

By Mwansa Chalwe Snr
The formalization initiative by Zambia Chamber of commerce and Industry (ZACCI) in collaboration with Industrial Development Corporation (IDC) has the potential to be a transformative driver for Zambia’s economic recovery. Unfortunately, its significance is being overlooked by many and dismissed by skeptics due to a lack of comprehension about the true meaning and benefits of sustainable formalization, as well as ignorance about its successful
implementation in Latin American countries, such as Brazil in the early 2000s. The crown jewel of the ZACCI-IDC formalization project is the Artisanal and small-scale mining (ASM) sector. The formalization of this sector will create tens of thousands of jobs and bring in millions of foreign exchange to help the kwacha appreciate within a very short period of time, which will in turn reduce the cost of living and doing business.

Formalization is not mere registration with PACRA

Formalization is a misunderstood term by many Zambians. Informality is a complex,heterogeneous and multidimensional phenomenon that requires multiple and integrated interventions rather than isolated efforts. The ZACCI-IDC initiative is, therefore, much more than the mere registration of a business with PACRA. This innovative initiative, a result of
extensive research addresses root causes of informality, making it a comprehensive and lasting solution.

The Digital Graduation of Informal Sector Entrepreneurs (DIGISE) Formalization Program is a groundbreaking innovation that leverages mobile technology and artificial intelligence for critical mass virtual management and financial literacy skills capacity-building mentorship. This approach empowers informal sector entrepreneurs with the necessary skills and knowledge to transition into the formal economy successfully.It includes other key components such as education and sensitization, proposals for regulatory and tax minimization reforms for MSEs, market access and linkages, resource empowerment, as well as business registration. Informal entrepreneurs weigh the costs and benefits of the
formalization before deciding to formalize.

The reduction of the informal sector has long been recommended to developing countries’governments, by international Organisations like for Economic Co-operation and Development (OECD), the International Labour Organization (ILO), the International Monetary Fund (IMF),the United Nations Development Programme (UNDP), as necessary to accelerate economic
growth and development. However, no African country has made efforts to implement this initiative, thus the persistent underdevelopment, unemployment, and poverty.

ZACCI-IDC Collaboration is Potential Economic Game Changer

To change this narrative, the Zambia Chamber of Commerce and Industry (ZACCI) and the Industrial Development Corporation (IDC) entered into a Memorandum of Agreement (MOA) to formalize micro and small enterprises (MSEs). According to IDC CEO Cornwell Muleya, and ZACCI President Antony Kabaghe, government support for the initiative will accelerate
economic growth, development and job creation.

“We recognize the critical role that MSMEs play in driving economic growth, creating employment opportunities, and reducing poverty. However, we also acknowledge the challenges that these enterprises face, including business development services and financial literacy, lack of finance, access to markets, and shortage of equipment and technology.

“We are drawn to the formalization project due to its potential to accelerate mass job creation in a short timeframe, given the huge size of the informal sector in Zambia, which includes artisanal and small-scale miners, an area of particular interest to us,” Mr. Cornwell Muleya said during the signing of the MOU with ZACCI.

At the same event, ZACCI President Antony Kabaghe welcomed the collaboration between ZACCI and a Public Sector entity like IDC in a soft Public Private Partnership (PPP) project. He further said that ZACCI was inspired by Latin American countries’ formalization successes.

“ Brazil’s experience has shown us that when micro and small enterprises are integrated into the formal economy, they gain access to credit, markets and government support, enabling them to grow and thrive. This, in turn, leads to job creation, increased tax revenues, and a more resilient economy. We are confident that by adopting similar strategies, Zambia can achieve comparable success,” He said.

Countries with large informal sector never develop

Zambia’s economy is predominantly informal, with an estimated 90% operating outside the formal sector, while only 10% is formalized. Empirical evidence suggests that no country can
achieve sustainable development with such a skewed economic structure.In the early 2000s, Latin American countries realized that in order to grow their economies,reduce unemployment and poverty, they could no longer depend on Foreign Direct Investments (FDIs) and so between 2005 to 2015, they embarked on formalizations programs.

“Almost all countries in Latin America have decreased their informal employment rates. Brazil implemented a series of measures to encourage the formalization of micro and small enterprises and to promote the creation of formal employment. Micro and Small Enterprises (MSEs)currently account for 95% of Brazilian firms, generate some 16.6 million formal sector jobs and contribute 20% to GDP,” ILO Report on Latin America Formalization stated.

The International Monetary Fund (IMF) supports formalization does encourage countries to reduce their informal sectors.
“Informality critically affects how fast economies can grow, develop, and provide decent economic opportunities for their populations. Sustainable development requires a reduction in informality over time. Economic growth in regions or countries with large informal sectors remains below potential. Addressing informality is thus essential and urgent to support inclusive economic development and reduce poverty worldwide,” IMF, Finance and Development December,2020.

How Formalization Transformed Brazilian Economy

Brazil, like many developing countries, historically had a large informal sector that contributed to low economic growth and high poverty levels. By the early 2000s, estimates suggested that over half of the workforce in Brazil operated informally, hindering productivity, economic planning, and fiscal capacity. Recognizing these challenges, the government under President Lula da Silva, prioritized formalization as a cornerstone of its broader economic strategy.

By simplifying tax laws and reducing bureaucracy, the government encouraged more businesses to formalize, leading to an increase in tax revenue and a reduction in informality. This, in turn,enabled the government to invest in vital public services. The formalization initiatives also led to a significant increase in foreign investment, as Brazil’s improved business environment and reduced corruption made it a more attractive destination for investors.By 2012, Brazil’s economy had surpassed that of the UK, becoming the 6th largest in the world.

The country’s GDP had grown from $552 billion in 2000 to over $2.5 trillion, with a growth rate of over 4% per annum. The formalization initiatives had played a key role in this success,enabling Brazil to unlock its economic potential and become a major player on the global stage.In order to put Brazil’s economic transformation in context, it is worth mentioning some key economic indicators .GDP grew by 4.5% per annum between 2000 and 2012; foreign investment increased from $20 billion in 2000 to over $60 billion in 2012; tax revenue increased from 24% of GDP in 2000 to over 30% in 2012 ; poverty reduced as millions of Brazilians – 89%were lifted out of poverty – with the poverty rate declining from 35% in 2000 to under 20% in 2012; the middle class grew from 40% of the population in 2000 to over 50% in 2012 and unemployment
rates dropped from over 12% in 2003 to around 5% in 2012.

It is the transformational impact of formalization that won President Lula two terms from 2003 to 2010, and the clamor for his return to office by Brazilians in October, 2022, for an unprecedented third term, making him the oldest President in Brazilian history.

Conclusion
Brazil’s journey from an economy plagued by informality to a global economic powerhouse underscores the importance of formalization as a driver of sustainable inclusive economic growth. The lessons from Brazil’s early 2000s transformation remain relevant for countries like Zambia and others in Sub-Saharan Africa seeking to harness the potential of their informal sectors. Brazil’s experience demonstrates the transformative potential of formalization when integrated with broader economic policies. Formalization is certainly the long sought after silver bullet home grown solution to economic turnaround and sustainable development for Zambia.

The writer is a Chartered Accountant, Author and an independent financial analyst and Economic Commentator.

Is There a Notable Relationship Between Gold and Oil Prices?

Chief Editor
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Is There a Notable Relationship Between Gold and Oil Prices?

The financial markets are a web of interconnected elements, but is there a notable relationship between gold and oil prices? While these two serve different purposes, of course (gold as a store of value and oil as an energy source), it’s reasonable to wonder whether their prices influence each other. Understanding the relationship can provide insights for managing a trading account or building a diversified portfolio.

 

The role of gold and oil in global economics

 

Gold and oil are two of the most traded commodities worldwide, but they have distinct roles in the global economy. Gold has long been viewed as a safe haven asset, maintaining its value during economic uncertainty. Investors often turn to it when inflation rises, currencies weaken, or geopolitical tensions escalate.

 

Oil, meanwhile, plays a huge, active role in modern industry. Its price reflects global economic activity, as demand for oil increases when economies expand. Supply factors, such as geopolitical conflicts in oil-producing regions or changes in production levels, also play a significant role in determining prices.

 

These differing functions mean that the factors driving gold and oil prices often differ.

 

Historical patterns and correlations

 

When observing the relationship between gold and oil prices, it’s noticeable that their movements are not consistently linked. Over certain periods, there may be a positive correlation, meaning that when oil prices rise, gold prices increase too. At other times, the relationship weakens or even reverses.

 

For example, during times of inflation, both gold and oil prices may rise simultaneously. Oil price increases can contribute to inflation by raising production and transportation costs, while gold often attracts investors as a hedge against inflation. This dynamic can create a temporary link between the two assets.

 

On the other hand, periods of economic instability can reduce the correlation. If oil prices fall due to oversupply, it doesn’t necessarily mean gold prices will follow. Gold’s price may respond more to interest rates or currency fluctuations.

 

The US dollar’s impact

 

The US dollar plays a key role in the relationship between gold and oil. Both commodities are priced in dollars on international markets, meaning their value often inversely correlates with the dollar’s strength. When the dollar weakens, gold and oil prices tend to rise because they become cheaper for holders of other currencies.

 

This relationship with the dollar can sometimes make it appear as though gold and oil are directly related. In reality, the dollar’s movements often act as an intermediary force that influences both commodities.

 

Geopolitics and market sentiment

 

Geopolitical events often affect both gold and oil markets, further complicating their relationship. For example, conflicts in oil-producing regions can lead to supply disruptions, driving oil prices higher. At the same time, heightened geopolitical risks may mean investors turn to gold as a safe haven asset.

 

Market sentiment also plays a role. During financial crises or periods of economic uncertainty, both gold and oil may see price increases due to shifts in investor behavior. An investor may use their trading account to allocate funds toward these commodities as part of a strategy to manage risk or capitalize on market volatility.

 

Differences in demand drivers

 

There are some overlaps, but the fundamental demand drivers for gold and oil differ substantially. Gold’s demand comes from jewelry, central bank reserves, and investment.

 

Oil is primarily driven by industrial use and transportation needs. So macroeconomic indicators like GDP growth, industrial production, and consumer demand tend to have a more direct impact on oil prices.

 

Gold prices, in contrast, are more sensitive to monetary policy, inflation expectations, and shifts in investor sentiment.

 

Investment strategies

 

Understanding the interplay between gold and oil can offer insight for traders and investors. Historical patterns can serve as a guide, but market dynamics often change due to evolving economic conditions or unexpected events.

 

Some investors may use the perceived relationship as part of a hedging strategy. For example, during inflationary periods, holding both gold and oil could provide protection against rising prices. Others may look for opportunities in diverging trends, such as when one commodity rises sharply while the other remains relatively stable.

 

Investors often follow news on both gold and oil prices. In mid-January, Yahoo Finance reported that the price of gold rose more than 30% over the past year, and asked their readers whether they thought the “gold price would reach fresh highs this year”. 62% of voters believed gold could reach new records, with 22% disagreeing and 16% undecided.

 

After Donald Trump won the US election, it was predicted that oil prices would rise in 2025 after three-year lows. 

 

Takeaway

 

While gold and oil prices can sometimes move in tandem, their relationship is complex and influenced by multiple factors. Understanding the distinct roles of these commodities, their demand drivers and the external forces affecting prices can help traders make more informed decisions. 

 

Zambia Develops Guidelines for Sustainable Wetland Utilization

Lusaka Times Editor
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Zambia Develops Guidelines for Sustainable Wetland Utilization

The Zambian government has initiated the development of comprehensive guidelines for the sustainable utilization of wetlands across the country, with plans to launch them later this year. This move is aimed at addressing the growing environmental challenges and threats that wetlands face nationwide.

During the 2025 World Wetlands Day commemoration held in Lusaka, Minister of Lands and Natural Resources Sylvia Masebo highlighted the critical role wetlands play in Zambia’s socio-economic development. Despite their importance, Zambia’s wetlands continue to face severe threats, including pollution, unsustainable land use practices, invasive alien species, climate change impacts, encroachment, fires, overfishing, poaching, and the proliferation of unplanned human settlements.

Minister Masebo emphasized that the forthcoming guidelines will serve as a strategic framework to mitigate these threats, promote conservation efforts, and ensure the sustainable management of wetland ecosystems. She stressed the need for collective action from government agencies, communities, and stakeholders to preserve these vital ecosystems for future generations.

Zambia has designated eight wetlands as Wetlands of International Importance under the Ramsar Convention. These include the Kafue Flats, Bangweulu Swamps, Barotse Floodplains, Luangwa Floodplains, Busanga Swamps, Lukanga Swamps, Lake Mweru-wa-Ntipa, and Lake Tanganyika. These sites are not only ecological treasures but also key to supporting biodiversity, water purification, flood control, and local livelihoods.

As the government advances this initiative, the Ministry of Lands and Natural Resources will continue engaging with local communities and international partners to enhance wetland conservation efforts. The guidelines are expected to strengthen environmental governance, promote sustainable land use, and reinforce Zambia’s commitment to environmental sustainability.

President Hichilema Embarks on Official Visit to Japan, Strengthening Bilateral Ties and Economic Cooperation

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President Hichilema Embarks on Official Visit to Japan, Strengthening Bilateral Ties and Economic Cooperation

President Hakainde Hichilema has departed for an official working visit to Japan, at the invitation of Japanese Prime Minister Shigeru Ishiba. The visit is set to further solidify the long-standing diplomatic and economic ties between the two nations.

State House Chief Communications Specialist, Clayson Hamasaka, emphasized that President Hichilema’s visit aims to deepen economic cooperation and unlock new opportunities for mutual growth and development. As Zambia’s Chief Marketing Officer, the president plans to use this visit to enhance trade and investment prospects, particularly in sectors such as mining, energy, agriculture, and water harvesting.

The two nations share a rich diplomatic history, having established formal relations 60 years ago in 1964, shortly after Zambia gained independence. Over the decades, these ties have been strengthened through frequent high-level engagements and collaborations in key sectors.

In a statement released to the media, Hamasaka underscored the importance of the visit as a reaffirmation of Zambia and Japan’s strong political ties, with senior officials from both countries regularly engaging to reinforce their close relationship.

President Hichilema’s visit is expected to focus not only on economic diplomacy but also on deepening Zambia’s development partnership with Japan. The Japan International Cooperation Agency (JICA) has been a key player in Zambia’s growth, providing support in infrastructure, agriculture, and human resource development.

Additionally, Japan has contributed significant aid to Zambia’s health sector, particularly in the fight against HIV/AIDS, malaria, and other public health challenges. The president’s visit will highlight Japan’s ongoing support and explore further collaboration to tackle these pressing issues.

Hamasaka concluded that the visit signifies a shared commitment to advancing bilateral cooperation and reflects the enduring strength of the partnership between Zambia and Japan.

UN Rapporteur impressed with efforts made in human rights

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UN Rapporteur impressed with efforts made in human rights

President Hakainde Hichilema has reaffirmed Government’s commitment to continue promoting freedom of expression and opinion for the betterment of citizens in the country.

Mr Hichilema said his Administration in collaboration with the United Nations (UN) and other stakeholders is dedicated to upholding human rights as they are fundamental and enshrined in the Zambian constitution.

Speaking when UN Special Rapporteur Irene Khan paid a courtesy call on him at State House, Mr Hichilema said Government will continue to work with experts like the UN in improving the process of human rights.

He observed that the issue of freedom of expression and opinion is of paramount importance to people and that his Government is ready to hold conversations around human rights, adding that Freedom of expression and movement among others are intertwined.

“We want to thank you for coming to Zambia to assess the state of human rights in the country, Government is committed to upholding human rights to better the lives of the people,” he said.

He said it is important for the country to work with the UN to look at a broader array of human rights so as to benefit the Zambian people.

And UN Special Rapporteur Irene Khan commended the Government for its willingness to address human rights challenges by working with the UN in the country.

Ms Khan expressed happiness with the positive response and interactions with various Stakeholders on the issue of human rights such as freedom of expression and opinion as well as movement.

She explained that she will present her findings of the state of human rights in Zambia to the UN for their consideration.

Ms Khan added that by inviting her to come to Zambia shows that Government is making efforts towards the promotion of freedom of expression and opinion in the nation.

She has since appreciated the various stakeholders such as civil society organisations, Non-governmental organisations among others that she interacted with during her visit to Livingstone, Kitwe and Ndola.

She said there is significant improvement with the state of human rights since the new administration formed Government.

Kalusha Bwalya Withdraws from Upcoming FAZ Elections

Lusaka Times Editor
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Kalusha Bwalya Withdraws from Upcoming FAZ Elections

Kalusha Bwalya Withdraws from Upcoming FAZ Elections

Zambian football legend Kalusha Bwalya has officially announced that he will not be contesting in the upcoming Football Association of Zambia (FAZ) elections, scheduled for March 29. This decision marks a significant turn of events, as Bwalya had previously expressed strong interest in running, following his disqualification during the 2020 elections.

Speaking through his spokesperson, Nkweto Tembwe, at a press briefing held in Lusaka, Bwalya disclosed that after thorough reflection and extensive consultations, he has decided to withdraw from the race. The former FAZ president emphasized that his decision was influenced by concerns over the integrity of the electoral process.

Bwalya stated that participating in the election would, in his view, serve to legitimize alleged irregularities surrounding the current electoral procedures. He expressed his disappointment with the ongoing issues within FAZ, noting that his withdrawal was a stance against practices he believes undermine transparency and fairness in the governance of Zambian football.

As one of Zambia’s most iconic football figures, Kalusha Bwalya’s absence from the electoral race will undoubtedly shape the dynamics of the upcoming elections. His decision has sparked widespread discussion within the football community, with many reflecting on his contributions to the sport both on and off the pitch.

Bwalya  reaffirmed his commitment to the development of football in Zambia, stating that his passion for the game transcends administrative roles and that he will continue to support initiatives that promote the growth and integrity of the sport nationwide.

Government Unveils White Paper for 2025-2027 Medium Term Budget Plan

Lusaka Times Editor
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Government Unveils White Paper for 2025-2027 Medium Term Budget Plan

Government Unveils White Paper for 2025-2027 Medium Term Budget Plan

The Zambian government has released the white paper for the 2025-2027 Medium Term Budget Plan, outlining key economic strategies aimed at fostering resilience and growth across critical sectors. Secretary to the Treasury, Felix Nkulukusa, announced that the white paper highlights measures designed to strengthen the economy, particularly in agriculture, mining, energy, and manufacturing. These strategies align with the objectives of the 8th National Development Plan, which is entering its final two years of implementation.

According to Mr. Nkulukusa, the white paper details the government’s approach to resource mobilization and outlines proposed expenditure priorities. It emphasizes efforts to cushion the economic shocks resulting from the severe drought experienced during the 2023/2024 season, while ensuring that vulnerable populations receive adequate protection.

The document sets a strategic framework aimed at promoting economic resilience and achieving sustained growth, with projections of over 6 percent annual growth. Mr. Nkulukusa stated that fiscal policy will be contractionary, targeting a reduction in the fiscal deficit from 3.1 percent of GDP in 2025 to 0.7 percent by 2027. This reflects the government’s commitment to fiscal discipline and sustainable economic management.

Domestic revenue mobilization is projected to reach at least 21.2 percent of GDP by 2027. This goal will be pursued through enhanced tax policies, leveraging technology to improve tax administration, and boosting tax compliance. Mr. Nkulukusa emphasized that these measures are critical for ensuring fiscal sustainability and supporting the country’s development agenda.

As Zambia moves forward with the implementation of the Medium Term Budget Plan, the government remains committed to fostering an environment that promotes economic stability, job creation, and inclusive growth for all citizens.

2025: Can Accountants Turn the Tide on Trust and Growth?

Chief Editor
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2025: Can Accountants Turn the Tide on Trust and Growth?

By James Mulambia

As Zambia looks toward 2025, the nation stands at a crossroads where economic recovery, sustainable growth, and the restoration of public trust in institutions are paramount. Amid this pivotal moment, the role of accountants has never been more crucial. Can they rise to the challenge and turn the tide on trust and growth? The answer lies in how the profession adapts to the evolving business and economic landscape, embracing innovation while upholding the integrity that is foundational to their work.

Economic Challenges and the Trust Deficit
Zambia, like many African nations, has faced a series of economic challenges over the past few years. These include high levels of public debt, inflationary pressures,and a fragile currency. The effects have been felt across various sectors, from agriculture to mining, which have traditionally been the backbone of the economy.Alongside these challenges, there has been a noticeable decline in public trust in institutions. Scandals involving financial mismanagement, corruption, and inefficiencies in public service delivery have eroded confidence in both private and public sector governance. The need for transparency and accountability has never been greater.

Accountants, with their commitment to ensuring the accurate reporting and accountability of financial information, are in a unique position to address thesechallenges. In a world where trust in financial systems is increasingly fragile, can
accountants restore that trust? More importantly, can they contribute to sustainable economic growth?

Restoring Trust Through Transparency and Accountability
Trust is the bedrock upon which any successful economy is built. In Zambia, there is an urgent need for financial accountability especially in government spending and in the way businesses operate. The role of accountants extends beyond balancing books; it involves creating and maintaining transparent systems that foster integrity.
Accountants can play a significant role in driving transparency by adhering to best practices in financial reporting and auditing. By ensuring that financial statements reflect the true state of affairs, accountants can contribute to reducing corruption and mismanagement. Public institutions and private companies alike can benefit from accounting professionals who help build systems that are accountable and transparent.

In Zambia, where fiscal challenges have led to public dissatisfaction, accountants have a responsibility to advocate for more rigorous and open financial management practices. In the long run, this can help restore public trust in both government institutions and private sector enterprises.

Driving Growth Through Strategic Financial Management
Growth in Zambia hinges on how businesses manage their finances and investments, and accountants are at the centre of this process. Strategic financial management is essential for the sustainable growth of businesses, particularly small
and medium-sized enterprises (SMEs), which are a key driver of job creation and economic development.
Accountants can help businesses in Zambia by offering advisory services that go beyond basic bookkeeping. Through budgeting, forecasting, and financial analysis, accountants can empower businesses to make informed decisions about expansion, investment, and cost management. In addition, accountants can provide advice on optimizing tax planning, ensuring that businesses are not only compliant but are also taking full advantage of available incentives and tax benefits.

For the Zambian economy, where formal sector jobs are scarce and the informal sector dominates, accountants can also play a key role in helping businesses transition to the formal economy. By offering guidance on financial reporting and
compliance with tax laws, accountants can support businesses in navigating regulatory requirements, reducing the barriers to formalization.

Embracing Technology and Innovation
As Zambia continues to embrace digital transformation, accountants must also keep pace with technological advancements that can streamline operations, improve accuracy, and foster efficiency. The rise of financial technology (fintech) offers accountants opportunities to use software and automation tools that reduce manual errors and offer real-time insights into financial performance. For example, cloud accounting systems, blockchain for secure transactions, and
data analytics tools can enable accountants to provide more timely and accurate advice to their clients, whether in the private sector or public institutions. These tools can also help accountants better track government expenditures and ensure that funds are used for their intended purposes.

In addition, the integration of Artificial Intelligence (AI) and machine learning into accounting practices can revolutionize how accountants identify trends, predict financial risks, and offer solutions that drive sustainable growth. Embracing these technological advancements could make accountants more effective agents of
change within Zambia’s economic landscape.

Professional Ethics and Continuing Education
As the Zambian economy evolves, the role of accountants becomes increasingly complex. With greater responsibility comes the need for continued professional development. Accountants must stay up to date with international accounting
standards, local regulations, and emerging trends to remain relevant in an ever-changing environment.
Moreover, accountants in Zambia must demonstrate the highest ethical standards in their practice. Through continuous education, ethical decision-making, and adherence to a code of conduct, accountants can contribute to the rebuilding of trust within Zambia’s financial systems.

Conclusion: The Path Ahead
As Zambia looks ahead to 2025, the challenges of rebuilding trust and fostering economic growth will require a concerted effort from all sectors of society. Accountants have a unique opportunity to influence this journey by promoting
transparency, advising on sound financial management, embracing technological innovation, and upholding ethical standards.For accountants to truly turn the tide, they must not only focus on their traditional roles of managing finances but also evolve into strategic partners who play a central role in driving economic development. By doing so, they can help create an environment where trust in financial systems is restored, and sustainable growth
becomes a reality for Zambia.

In a time when Zambia’s future depends on solid financial stewardship, the question is not whether accountants can help but rather how quickly they will rise to the challenge. The path to 2025 and beyond starts now, with accountants leading the way.

The author is a certified ZICA Accountant and an ACCA student at the strategic level.

Government Orders Shallow Wells Closure to Combat Cholera in Kasumbalesa and Chililabombwe

Lusaka Times Editor
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Government Orders Shallow Wells Closure to Combat Cholera in Kasumbalesa and Chililabombwe

Government Orders Shallow Wells Closure to Combat Cholera in Kasumbalesa and Chililabombwe

In response to the rising cholera cases, the Ministry of Health has ordered the immediate closure and burial of all shallow wells in Kasumbalesa and Chililabombwe. This directive aims to curb the spread of the waterborne disease, which has been linked to contaminated water sources and poor sanitation in these areas.

Speaking during a cholera eradication campaign in Kasumbalesa, Minister of Health Dr. Elijah Muchima identified shallow wells and unhygienic trading environments as key contributors to the outbreak. Dr. Muchima emphasized that these unsanitary conditions create a breeding ground for cholera, urging local residents and traders to adopt and maintain proper hygiene practices as a preventive measure.

Dr. Muchima also announced that the government, with support from cooperating partners, is working on sinking eight new boreholes to ensure access to clean and safe drinking water in the affected regions. He highlighted that these efforts are part of a broader strategy to improve water sanitation infrastructure and reduce reliance on unsafe water sources.

The Minister called on community members to cooperate with health authorities and support government initiatives aimed at eradicating cholera. He stressed the importance of community participation in maintaining clean environments, proper waste disposal, and the consistent use of safe water for domestic purposes.

As the government steps up its cholera response, health officials continue to monitor the situation closely, providing health education and ensuring that preventive measures are effectively implemented across vulnerable communities

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