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Why are indigenous Zambian owned SMEs failing?

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Why are indigenous Zambian owned SMEs failing?


By Kumbukilani Phiri

If there is something that I am so passionate about, it’s the development of more indigenous Zambian owned businesses in the country. My argument has always been that only few developed countries I know like the United States of America, Australia, Malaysia, etc has been developed by immigrants. All the other countries have been developed by locals who have owned and directed the economic development of their countries.

The recent years have seen a rise in the number of young Zambians who have taken interest in starting some form of business. This could be as a result of few employment opportunities in the country and perhaps the exposure that has been brought about by the advent of the internet and social media. I personally feel very proud every time I hear about any Zambian who is doing well in business and employing other Zambians.

Unfortunately, the rise in the interest to do business by Zambians more especially the young ones has also brought a debate about why the failure rate is very high. Firstly, if we are to be fair, we can argue that the failure rate looks high because there are now more people trying. However, there seems to also be other reasons that we can perhaps look at as contributing factors to the higher failure rate.

1. Bad economic environment.

Anyone who has been living and doing business in Zambia for the last 10 years will agree that the economic and business environment has been very bad. Firstly the Kwacha has lost value by more than 450% against major foreign currencies just in the last 10 years. The exchange rate moved from K6.70 to 1 dollar to the current K28.50 to 1 dollar. This has made international trade very difficult affecting many cross border traders and suppliers. Things have also been made very worse by the COVID 19 and the recent droughts which affected both the crop production and electricity generation. Many businesses have failed to survive including many owned by foreigners as well as big multinationals.

2. Unrealistic expectations.

As an entrepreneur and businessman myself, I know just how unrealistic many entrepreneurs and businessmen can be, myself included. Many of us forget to do the basic things like taking time to understand market gaps and needs, market size, competition, risks, etc. We focus more on the potential returns to make ourselves rich forgetting everything else. I have seen entrepreneurs promoting their businesses to investors with potential returns of over 1000% in a single year. This is beyond unrealistic and just plain madness. Unfortunately, many only come to realize that their assumptions were very wrong when it’s too late. By that time, the business will have already collapsed and both their money and that of the investors lost.

3. Quick and over diversification.

I have noticed with great sadness at how Zambian entrepreneurs rush to diversify their businesses. Instead of taking time to build one business until it becomes profitable, many rush to open or start many other businesses. They think diversification is growth forgetting that one can do one product and grow both the turnover and profitability. The rule has always been to diversify when your initial business has become stable both in production, sales and profitability. It’s not like today you are doing pigs, tomorrow you are selling airplanes, tomorrow you are opening a bank. It’s also important to diversify in related industries and not into completely unrelated sectors within a short time. This is a big recipe for failure.

4. Focusing on social media appeasement and fame.

On this one, maybe I am just old school and don’t know how things are done in the modern age. I have noticed that many young entrepreneurs focus so much on making people think they are running successful businesses online, yet the opposite is the case in reality. You would find them busy showing how their businesses are expanding today, only to hear that they are shutting down the following day. As an old school, I believe in doing the work in silence and only showing actual and real results to the world online later. You can’t register a business at PACRA today and tomorrow you are already going live on your page teaching other people how to become entrepreneurs and do business. Successful entrepreneurship requires a lot of work behind the scenes to make it work. You need a good product, good team and supportive customers. You shouldn’t rush to boast to the world just because you have a good product or service, you also need to establish a good team and build loyal and supportive customers and clients.

5.Understanding the difference between entrepreneurship and business management.

This one is actually very difficult for many to understand, but it’s important to distinguish between an entrepreneur and a businessman. An entrepreneur is simply an innovator, a strategist or an inventor who comes up with a unique product, service or model of how to deliver value to customers or clients. This person may not necessarily be a good manager themselves. Unfortunately, many entrepreneurs have misunderstood being entrepreneurs and being managers. Many lamentably fail at running businesses they create to sale their innovative products, inventions or models. What is important for them to understand is that their gift or talent ends at the innovation stage and it’s better for them to leave others to manage the business side of things while they focus on innovation and making others buy into their vision.

6. Depending on free money to run (grants, concession loans, etc).

In recent times, I have also noticed a rise in grant and loan funded entrepreneurs. These are entrepreneurs who are very good at putting up proposals for their businesses, unfortunately, once they get the grant or loan money, their businesses only survive as much as the grant or loan money can last. They have no innovative products or services to offer to the market or they are so bad at managing their businesses to generate any value and profit to survive beyond the grants or loans. So their businesses fail once the grant money runs out.
The author an entrepreneur owns Legacy Manufacturers

It’s a done deal for HH but….

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It’s a done deal for HH but….

One of the most hard-working, industrious, and innovative Member of Parliament (MP), Sunday Chanda says President Hichilema is the ideal candidate for 2026 and he’ll ask his people to give him another mandate.

Speaking in an interview with independent tabloid, The News Diggers, Chanda says any change in leadership next year will disrupt the development trajectory undertaken by President Hichilema thus far.

“None of the current leaders offering themselves for national leadership have presented a clear roadmap or blueprint for the country…,” asserts Chanda

We cannot agree more with the Kanchibiya constituency lawmaker! Since he wrestled power from bo Edgar Lungu in a scintillating electoral contest in 2021 that left his predecessor stunned; President Hichilema has gone ahead to score several milestones: free education has been reintroduced from grade 1 to 12; bursaries and meal allowances have been restored; the Ndola/Kabwe road which is obviously a death trap due to congestion is being upgraded to a dual carriageway; the mines on the Copperbelt have been given a new lease of life while new ones are being opened up in Northwestern province as production in the already existing ones is ramped up while the crusade to recover the stolen loot is cruising nicely….the list is of course, endless.

Listening to some of the rhetoric from opposition party leaders who are positioning themselves for the most coveted job on earth, one is left to wonder whether this is comedy or serious business. Most of them strike us as too raw, clueless let alone unsophisticated! Instead of articulating their party manifestos; they are either making fun of the President’s afro hair, scaling mountain tops to brag about being from “kuma yard” in the small mining town of Mufulira as opposed to HH who grew up in the village herding cattle or indeed unveiling their evil intentions to appropriate Community House, the President’s private property which he built with his sweat.

As things stand, the 2026 general elections is a done deal for HH; however, it will be a Herculean task for most MPs, particularly those who have overstayed in the August house; have not been frequenting their constituencies or indeed have been hiding in their vehicles with tinted windows or ignoring phone calls from ordinary people. To this end, we’d like to appeal to President Hichilema to consider taking a leaf from King Cobra by taking charge of the adoption process of MPs, Mayors, and Council chairpersons within his party. We are privy to a well-calculated scheme by some corrupt party officials to offer express adoptions to the highest bidders!

As for bo Lungu, ignore those ‘kandiles’ who are urging you to remain in active politics. Your health is paramount; take a well-deserved rest. Reach out to your brother, the President, and make peace with him so that he may assign you certain functionalities. If this is perhaps too ‘heavy’ for you, you may as well settle on your daughter’s farm in Sinda. We understand ‘fwaka yachingoni’ is green gold…..consult your colleague Peter Sinkamba. You can be producing it commercially, not for supply those junkies in Chiboklya of course, but for export purposes or medication especially in these times of uncertainties with explosions coming out of Washington DC.

Mulekutika?

Prince Bill M Kaping’a

HH Mpaka 2031 National Coordinator

Court Issues Bench Warrant for Opposition Official Emmanuel Mwamba

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Court Issues Bench Warrant for Opposition Official Emmanuel Mwamba

A Lusaka magistrate has issued a bench warrant for Patriotic Front (PF) Information and Publicity Chairperson Emmanuel Mwamba after he failed to appear in court for the continuation of his trial on charges of disorderly conduct.

Magistrate Amy Masoja granted the warrant on Tuesday after Mr. Mwamba’s absence was noted in court. He and three co-accused—Jacqueline Chopa, 49, Gideon Tolopa, 42, and Gift Kachingwe, 32, all businesspersons—are jointly charged with one count of disorderly conduct at Kabwata Police Station, an incident that allegedly took place on February 27, 2023.

During the hearing, one of Mr. Mwamba’s sureties informed the court that the opposition figure is currently in the United States and is expected to return to Zambia on March 4, 2025. Despite this, Magistrate Masoja scheduled February 26 as the date for the return of the bench warrant and ordered Mr. Mwamba to appear before the court.

Mr. Mwamba, a vocal critic of the Zambian government and a prominent figure in the PF, has not publicly commented on the court’s decision. The case has drawn attention amid heightened political tensions in the country, as the opposition continues to challenge the policies of President Hakainde Hichilema’s administration.

The trial will continue as the court awaits Mr. Mwamba’s return.

President Hichilema Visits Kyoto’s Iconic Kinkakuji Temple

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President Hichilema Visits Kyoto’s Iconic Kinkakuji Temple

President Hakainde Hichilema paid a visit to the renowned Kinkakuji Temple in Kyoto braving the afternoon snowfall to witness one of Japan’s most treasured cultural landmarks. The temple, a designated UNESCO World Heritage Site, stands as a symbol of Japan’s rich history and architectural brilliance.

Originally built in 1397 as a retirement villa for Ashikaga Yoshimitsu, the 3rd Shogun of the Muromachi Shogunate, Kinkakuji was later converted into a Zen Buddhist temple. The structure, famously adorned in gold leaf, reflects the deep cultural and spiritual traditions of Japan.

As President Hichilema walked through the temple’s scenic grounds, he emphasized the importance of preserving historical sites, not only for their cultural value but also for their role in boosting tourism.

“The beauty and heritage of Kinkakuji remind us of the significance of safeguarding our own cultural treasures,” said President Hichilema. “Preserving historical landmarks is essential in shaping our collective future and growing our tourism sector.”

The visit underscores Zambia’s commitment to learning from global examples in cultural conservation and leveraging heritage to promote tourism and economic growth.

North-West University academic supports South-Africa’s response to tensions with Rwanda

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North-West University academic supports South-Africa’s response to tensions with Rwanda

By Phenyo Mokgothu

In times of escalating tension between states, cool heads and calm words are crucial, says the North-West University (NWU) in South Africa academic Dr Pumlani Majavu.

“The Rwandan president came dangerously close to declaring war with South Africa, both in words and in deeds. We are fortunate to have a head of state who champions diplomacy over war. In such times, peace is needed,” says Dr Majavu, referring to President Cyril Ramaphosa’s measured response to the current diplomatic tensions between South Africa and Rwanda following the deaths of 14 South African soldiers in the Democratic Republic of Congo (DRC).

Dr Majavu, a lecturer in Political Studies and International Relations, describes the current state of relations between the two countries as severely strained.

The South African government has warned that further attacks on its troops would be considered a declaration of war. Dr Majavu says Rwanda’s response to these warnings reflects its broader interests in the region.

“Rwanda’s rhetoric, including its threat of war, is about ensuring that it continues to benefit from the DRC’s mineral resources. Stability in the east of the DRC does not serve the financial interests of Kigali. Since 1996, that part of the country has historically been controlled by Kigali-backed warlords.”

South Africa and Rwanda have experienced diplomatic tensions in the past, he notes.

In 2014, South Africa expelled three Rwandan diplomats after an attack on an exiled Rwandan dissident’s home in Johannesburg. Rwanda responded by expelling six South African envoys. Dr Majavu noted that these past events contribute to the current strained relationship between the two countries.

The rising tensions have raised concerns about regional alliances and peacekeeping efforts in the Great Lakes region. Dr Majavu explains that the core issue is Rwanda’s stance on the DRC.

“The tensions arise from the fact that Kigali does not respect the sovereignty of the DRC and does not want a stable eastern DRC. Rwanda has been against the deployment of the Southern African Development Community Mission in the DRC. Instead of supporting a

regional mission aimed at peace, Kigali supports a militia that thrives on deadly chaos.

“It is to be hoped that cool heads and calm words will prevail, resulting in a peaceful resolution and the safe return of South African soldiers in the DRC,” concludes Dr Majavu.

Our epistle to UN Rapporteur Ms. Khan; lessons from Rwanda

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Our epistle to UN Rapporteur Ms. Khan; lessons from Rwanda

NOT so long ago, the Zambian government invited Irene Khan, the United Nations Special Rapporteur on Freedom of Opinion and Expression, to undertake a fact-finding mission to our nation on the alleged human rights violations. Ms. Khan was in the country for 10 days. During her sojourn, the UN rapporteur had an opportunity to interact with inter alia, cabinet ministers, members of parliament, the judiciary, civil society organisations, and the fourth estate – the press and news media. Of course, she also engaged the Republican President, His Excellency Hakainde Hichilema at the end of her tour of duty.

If we may put it in her own words; she is the first United Nations Special Procedures mandate holder to visit the country in the last 8 years, and the first-ever civil and political rights mandate holder to be invited to Zambia.

What does this entail?

The New Dawn Administration has got nothing to hide as far as protecting and upholding human rights is concerned otherwise doors would’ve been slammed on her!

We are however perturbed by the assessment of her visit. “My overall observation is stark. Human rights stand at the crossroads in Zambia as the country prepares for general elections in 2026 amid major economic challenges, rising political tensions, and polarisation along ethnic and regional lines…..Laws on criminal libel, seditious practices, insults, hate speech, and cybercrimes are being used to prosecute, punish and silence critical voices and must be repealed or revised,” reads part of her preliminary report.

The UN rapporteur has her facts wrong. We are hopeful she won’t even bother to include this particular segment in her final report as it is totally misleading. If we may summon the words of United Nations Secretary-General Antonio Guterres in June 2019: “Over the past 75 years, hate speech has been a precursor to atrocity crimes, including genocide, from Rwanda to Bosnia to Cambodia.”

Guterres was on the right track….hate speech has always been a precursor of the madness of ethnic cleansing wherever it has reared its ugly head. The Holocaust did not start with the gas chambers; it had to take somebody to apportion the blame for Germany’s economic woes on the Jews – hate speech. The genocide against the minority Tutsi in Rwanda was precipitated by decades of hate speech exacerbated by ethnic tensions. The Srebrenica genocide in Bosnia and Herzegovina was triggered by constant nationalist propaganda throughout party-controlled media channels demonising the Bosnian Muslim population. To give a better context of the repercussions of “hate speech,” though, we shall restrict ourselves to the genocide in Rwanda.

Although the 1994 genocide in Rwanda was ignited by several factors, “propaganda and hate speech” definitely played a significant role. Extremist Hutu groups, particularly the Interahamwe militia, spread hate speech and propaganda using the radio, newspapers, and public rallies to demonise the Tutsi population while calling for their extermination. One particular radio station, RTLM, constantly bombarded listeners with a barrage of hateful propaganda and frequently incited extremist Hutu violence against Tutsis and moderate Hutus. Kantano Habimana, a radio announcer, encouraged “those who have guns [to] immediately go to these cockroaches [and] encircle them and kill them…” while his counterpart, Valérie Bemeriki, urged her audience to “not [only] kill those cockroaches with a bullet — [but also] cut them to pieces with a machete”.

Given its considerable influence and massive following, the radio station succeeded in stirring up emotions and fueling enormous hatred against Tutsis and moderate Hutus. In the fullness of time, the animosity and tension that had been simmering like a volcano over the years finally erupted like a volcano! During the next 100 days, the streets were littered with corpses – children, the aged, youth, women, and men as voluminous amounts of blood spilled before finding its way to the rivers and turning them red! A record 800, 000 people were exterminated using guns and grenades, and such primitive weapons as machetes, clubs, knives, and spears! These large-scale killings occurred not on the battlefield but in public places such as schools, churches, and markets. In certain instances, homes and buildings were set on fire with several people trapped inside while widespread sexual violence was used as a weapon of war!

This remains a painful reminder to those of us who dwell in Africa of what hate speech can do to a nation if the media or indeed certain individuals are given a ‘blank check’ to say whatever they want; we would be fast drifting towards the Rwanda of the 1990s.

Take for instance, a seemingly inebriated member of parliament who has no qualms making disparaging remarks such as “the villagers of this village are more intelligent than the villagers of that village,” what sort of reaction do you anticipate from common people on the streets? What about an emotional MP who boldly looks into the camera and declares that she belongs to a big tribe that can easily outnumber the police and the military if they took to the streets to protest; isn’t that psyching or inciting members of the public to resort to violence?

The government is in no way ‘weaponising’ any parts of the law to fix perceived opponents; it is a question of maintaining law and order in the land. We shall cite three examples of individuals who have somehow come into conflict with the law in the recent past: a member of parliament, a self-acclaimed civil rights activist, and a journalist.

Independent Member of Parliament for Lumezi, Munir Zulu was arrested and charged for expressing hatred, ridicule or contempt towards persons because of race, tribe, place of origin or colour. The charges came after alleged utterances he made on March 28, 2023, at Longacres Police Post car park, Lusaka after his release from police custody. He asserted as follows, “The villagers of Lumezi, are more intelligent than the villagers of Bweengwa!” This is purely hate speech likely to evoke ill feelings in the affected tribe.

Civil rights activist, Brebnar Changala was arrested and charged by the police for some crude remarks he made concerning the alleged abduction of Emmanuel ‘Jay Jay’ Banda which were considered to be seditious and inciting dissatisfaction against a duly elected government. During his testimony in the Lusaka Magistrates court, a witness adduced that he had watched Changala claim that he had information that the State was recruiting criminals to abduct its citizens. Wouldn’t such remarks make citizens conclude that those in government are indeed terrorists who don’t deserve to continue enjoying power?

Thomas Zgambo fashions himself as a consultant for the online media publication, the Zambian Whistleblower. He was arrested for alleging that the Zambia National Service, an arm of the defense force, was importing “substandard” genetically modified maize from South Africa without informing consumers of any potential harm. Of course, this turned out to be false!

Just in case Ms. Khan has forgotten, in the West, countries such as Germany, Spain, and the United States of America still maintain seditious laws. For example, the rioters who invaded and ransacked Capitol Hill in the States on January 6, 2021, were arrested and charged under the same Laws. In Europe where they seem to be still grappling with issues of race, religion, descent, or ethnic orientation, criminal laws against hate speech are still in place.

Zambians clearly understand what’s better for them. It’s therefore morally wrong for anyone to come and dictate to us what should be included in our statutes or not. Take for instance Munyaule Zambia; a rogue Facebook page. The other day, they published a voice note wherein someone was making disparaging remarks against certain ethnic groups. He singled them as generally having warped minds for choosing to vote in a particular manner.

“You have no brains; you are used to herding cattle in threadbare clothes and gumboots with gaping holes!” he ranted. “Like your forefathers who used to suck blood, you are damn fools and a primitive lot!”

Does Madam Khan surely appreciate the gravity of such sentiments? Does she understand how ordinary people in the Townships or villages are likely to interpret such strong remarks? Bitter seeds of infuriation would already have been planted in people’s minds. It would just be a matter of time before they begin festering like a boil before exploding to unimaginable proportions too ghastly to contemplate!

Prince Bill M. Kaping’a

Political/Social Analyst

Billionaire’s List : Africa’s Richest People in 2025

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Billionaire’s List : Africa’s Richest People in 2025

Africa’s leading billionaires have built their fortunes through groundbreaking innovation, strategic vision, and unwavering resilience. Spanning industries such as manufacturing, mining, telecommunications, and consumer goods, these trailblazers are reshaping Africa’s economy while making a global mark. Discover the sectors they command, the lifestyles they embody, and the inspiring journeys behind their success. Beyond their immense wealth, these visionaries are catalysts for transformative change, driving progress and leaving an indelible impact across the continent and beyond.

1. Aliko Dangote

Net Worth: $15.6 billion
Sector: Manufacturing (Cement, Sugar, Flour)

Aliko Dangote, the richest man in Africa for over a decade, built his wealth through Dangote Group, a conglomerate that dominates the African market in cement, sugar, and flour production. Despite his immense wealth, Dangote maintains a relatively low-profile lifestyle. His journey began with trading commodities, and today, he is spearheading projects like the Dangote Refinery, which will significantly impact Nigeria’s oil industry.

2. Johann Rupert

Net Worth: $10.7 billion
Sector: Luxury Goods

Johann Rupert, a South African billionaire, heads Compagnie Financière Richemont, known for luxury brands like Cartier and Montblanc. His understated yet luxurious lifestyle reflects his company’s high-end clientele. Rupert’s journey was rooted in his father’s tobacco business, which he diversified into the global luxury goods empire it is today.

3. Nicky Oppenheimer

Net Worth: $8.4 billion

Sector: Mining (Diamonds)

Nicky Oppenheimer, a diamond magnate, made his fortune through the Oppenheimer family’s 40% stake in De Beers, the world’s largest diamond producer. His family sold its stake in 2012 for $5.1 billion. Though private, Oppenheimer enjoys philanthropy, particularly in environmental conservation. His journey started in the diamond mines, and he eventually steered De Beers to global prominence.

4. Abdulsamad Rabiu

Net Worth: $8.1 billion
Sector: Manufacturing (Cement, Sugar, Real Estate)

Abdulsamad Rabiu is another Nigerian industrialist who made his wealth through BUA Group, a conglomerate in cement, sugar, and real estate. Known for his quiet and modest lifestyle, Rabiu expanded his family business into one of Nigeria’s largest manufacturing companies. His journey highlights his ability to navigate Nigeria’s complex business environment.

5. Nassef Sawiris

Net Worth: $7.2 billion
Sector: Construction, Chemicals

Egypt’s Nassef Sawiris, part of the wealthiest family in Egypt, runs Orascom Construction and is heavily invested in global giants like Adidas. His journey in construction has made him one of the world’s most influential investors. Despite his vast fortune, Sawiris prefers to keep a low profile.

6. Mike Adenuga

Net Worth: $6.1 billion
Sector: Telecommunications, Oil

Mike Adenuga, Nigeria’s second-richest man, made his fortune in telecommunications and oil, founding Globacom, Nigeria’s second-largest telecom company. He also owns Conoil, a major oil exploration firm. Known for his opulent lifestyle, Adenuga’s journey is marked by his relentless ambition, starting with small ventures and growing into a telecom and oil powerhouse.

7. Issad Rebrab

Net Worth: $5.1 billion
Sector: Food and Beverage

Algeria’s Issad Rebrab made his fortune through Cevital, the country’s largest privately-held conglomerate. Cevital operates one of the world’s largest sugar refineries. Known for his down-to-earth lifestyle, Rebrab’s journey began in humble beginnings before establishing a food empire that spans across continents.

8. Naguib Sawiris

Net Worth: $3.3 billion
Sector: Telecom, Media

Naguib Sawiris, Nassef’s brother, has a stronghold in the telecom industry with Orascom Telecom, which was sold to Russia’s VimpelCom in 2011. A lover of luxury, Naguib is known for his flamboyant lifestyle and sharp business acumen. He now focuses on media and political ventures in Egypt.

9. Patrice Motsepe

Net Worth: $2.9 billion
Sector: Mining

South Africa’s Patrice Motsepe, the first Black African billionaire, founded African Rainbow Minerals, which mines gold, platinum, and other precious metals. Known for his philanthropy, Motsepe has pledged half of his wealth to charity. His journey started in the law, before transitioning to mining, where he saw massive success.

10. Koos Bekker

Net Worth: $2.5 billion
Sector: Media, Technology

Koos Bekker transformed Naspers from a South African newspaper publisher into a global e-commerce and media giant, investing in platforms like Tencent. Bekker’s modest lifestyle contrasts with the digital empire he’s built. His journey underscores visionary leadership, taking calculated risks in emerging markets.

11. Mohamed Mansour

Net Worth: $2.5 billion
Sector: Diversified (Automotive, Retail)

Mohamed Mansour oversees the Mansour Group, a family-owned conglomerate with interests in automotive and retail sectors, including the distribution of General Motors vehicles. Mansour is known for his reserved yet philanthropic lifestyle, with investments spanning Africa, Europe, and beyond.

12. Strive Masiyiwa

Net Worth: $1.9 billion
Sector: Telecommunications

Strive Masiyiwa, a Zimbabwean billionaire, founded Econet, one of the largest telecom companies in Africa. Masiyiwa is a prominent philanthropist and advocate for African entrepreneurship. His journey is marked by resilience, overcoming regulatory challenges in Zimbabwe to create a telecom giant that serves millions across the continent.

13. Mohammed Dewji

Net Worth: $1.5 billion
Sector: Manufacturing

Tanzania’s Mohammed Dewji, CEO of MeTL Group, transformed a small trading business into a $1.5 billion conglomerate. Dewji, Africa’s youngest billionaire, is known for his active lifestyle and philanthropy. His journey reflects the power of family legacy and strategic investment in manufacturing.

14. Prateek Suri

Net Worth: $1.4 billion
Sector: Consumer Electronics, Investment, Manufacturing

Prateek Suri, founder of Maser Group and MDR Investments popularly known as technology tiger of Africa, made his fortune in the consumer electronics and tech space after valuation crossing $5bn after acquired by SCG, focusing on frontier technologies and large-cap ventures in Africa mining and infrastructure, shipping and AI and the GCC region. Known for his high-energy lifestyle, Suri’s journey highlights innovation in manufacturing and technology, with an eye on transforming Africa’s tech landscape. Suri is Africa’s youngest billionaire with net worth $1.4bn

15. Youssef Mansour

Net Worth: $1.1 billion
Sector: Retail, Consumer Goods

Youssef Mansour, part of Egypt’s wealthy Mansour family, has built his wealth through Metro, Egypt’s largest supermarket chain, and other consumer goods ventures. He lives a low-profile lifestyle, focusing on expanding his family’s retail empire across Africa and the Middle East.

16. Othman Benjelloun

Net Worth: $1.1 billion
Sector: Banking, Insurance
Othman Benjelloun, a Moroccan banking magnate, founded BMCE Bank, one of Africa’s leading financial institutions. Benjelloun is known for his classic and traditional lifestyle. His journey through finance has positioned him as one of the most influential bankers in North Africa.

17. Michiel Le Roux

Net Worth: $1 billion
Sector: Banking

Michiel Le Roux founded Capitec Bank, one of South Africa’s most successful retail banks, revolutionizing affordable banking for the masses. Le Roux enjoys a relatively simple lifestyle, focusing on the banking sector and making banking accessible for all. His journey reflects his focus on innovation in financial inclusion.

18. Christoffel Wiese

Net Worth: $1 billion
Sector: Retail

Christoffel Wiese, South Africa’s retail giant, made his fortune through Shoprite, the continent’s largest retailer. Known for his lavish lifestyle, Wiese’s journey has seen both remarkable successes and setbacks, but his influence on African retail remains unmatched.

19. Youssef Dewji

Net Worth: $900 million
Sector: Manufacturing, Real Estate
Youssef Dewji, part of the influential Dewji family in Tanzania, has seen tremendous success in the manufacturing and real estate sectors, expanding his family’s business legacy. His modest lifestyle belies his impressive business acumen.

20. Aziz Akhannouch

Net Worth: $900 million
Sector: Oil and Gas

Aziz Akhannouch, Morocco’s oil and gas magnate, is also a politician, serving as the country’s Prime Minister. His family owns Akwa Group, a conglomerate focused on petroleum products. Akhannouch maintains a relatively low public profile, balancing his political and business commitments.
Conclusion
Africa’s top billionaires are catalysts for economic transformation, steering investments into pivotal sectors and redefining industries that shape the continent’s future. Their remarkable journeys reflect resilience, innovation, and a unified commitment to building a more prosperous and vibrant Africa.

COSAFA and CECAFA to support Kamanga’s bid for FIFA Council

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COSAFA and CECAFA to support Kamanga’s bid for FIFA Council

The Council of Southern Africa Football Associations (COSAFA) and Council for East and Central Africa Football Associations (CECAFA) have resolved, in consultation with their Member Associations, to support each other’s single candidate for a place on the FIFA Council.

Football Association of Zambia (FAZ) president Andrew Kamanga is the sole candidate from the COSAFA Zonal Union for one of five places on the FIFA Council that is open to CAF members.

Souleiman Hassan Waberi, the president of the Djibouti Football Federation (DFF), is the sole candidate from the CECAFA Zonal Union.

According to a joint statement signed by Said Ali Said Athouman, the COSAFA president and Wallace Karia, the CECAFA president said that being the case, the two Zones have resolved to jointly support the election of the two candidates for the FIFA Council in a show of solidarity. COSAFA is made up of 14 CAF Member Associations and CECAFA has 11.

Both Kamanga and Waberi have been declared eligible to stand by FIFA’s Review Committee.

By Benedict Tembo

Government Expresses Deep Concern Over Instability in Eastern DRC

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Government Expresses Deep Concern Over Instability in Eastern DRC

The Government has expressed deep concern regarding the instability that has engulfed the Eastern Democratic Republic of Congo (DRC).

Permanent Secretary of the Ministry of Defence, Norman Chipakupaku, stated that the ongoing insecurity in Goma, DRC, necessitates concerted efforts to restore peace in the region. Speaking at the official opening of the National Security Strategy Implementation and Rule of Law roundtable workshop in Lusaka, Mr. Chipakupaku emphasized that it is in Zambia’s best interest to see peace restored in Goma promptly.

“The instability in Goma not only affects the DRC but also has broader implications for regional security. Zambia remains committed to supporting peace initiatives,” he said.

Meanwhile, Zambia Army Commander, Lieutenant General Geoffrey Zyeele, affirmed that the Army is prepared to respond effectively to any disasters that pose threats to national peace and security.

In addition, Assistant Adjutant General of the North Carolina National Guard, Christina Moore, reiterated the United States’ commitment to Africa’s security and prosperity.

“The United States remains a steadfast partner in promoting peace, stability, and economic growth across the African continent,” said Ms. Moore.

The roundtable workshop aims to strengthen collaboration among national security stakeholders to address emerging security challenges in the region.

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.”

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