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The United Party for National Development UPND has disclosed that the Pact is not yet ready to announce its presidential candidate for the general elections.
UPND spokesperson Charles Kakoma says the Pact leadership will only announce the presidential candidate after the two parties agree on a number of issues to avoid confusion in the future.
Mr. Kakoma said it would be premature to announce the PF/UPND pact candidate before agreeing on the power sharing mechanism and the social and economic agendas of the two parties once in government.
In an interview with QFM Mr. Kakoma said that even if they announce the Pact presidential candidate at the last minute, it will not be hard to sell the candidate because both of them are already known to the public.
Mr. Kakoma however says the Pact is ready for the general elections regardless of when president Rupiah Banda will announce the date of the elections.
He has called on the Pact supporters not to be worried over the Pact leadership.
File: Maize that has been purchased from farmers waiting to be transported to sheds by the Food Reserve Agency
Several interest groups have expressed happiness at Zambia’s latest raking as one of the world’s fastest-growing economies in the next five years and attributed the success to Government’s prudent and consistent policies that support long-term economic growth.
Chamber of Mines president Nathan Chishimba said the positive strides Zambia was making in the global economy were an indication that forward-looking policies that support long-term growth had a positive impact on the economy.
The January 6, 2011 edition of The Economist has graded Zambia as number nine on the list of 10 countries whose economies would peak between this year and 2015 because of rising Foreign Direct Investment (FDI) and prudent economic management, among other factors.
Mr Chishimba said it was evident in Zambia policy emphasis had been on economic growth led by four sectors which included mining, manufacturing, agriculture and tourism.
He said all the sectors had seen considerable investments in the last few years, resulting in the growth of the economy.
“The positive strides Zambia is making in global rankings are a reflection that prudent, consistent and proactive policies that support long-term growth in the economy have a positive impact on the economy.
“It is also a reflection that Foreign Direct Investment is a necessary ingredient to accelerating expansion of the domestic economy,” Mr Chishimba said.
In a separate interview, Private Sector Development Association chairperson Yusuf Dodia said it was encouraging to get positive feedback on Zambia’s economic performance.Mr Dodia said it was important that the Zambian Government placed emphasis on diversifying the economy so that if copper prices on the international market fell, other sectors could lead the economy.
He said Zambia should also strengthen the processing industry so that the bumper harvest being recorded could have a major impact.
Zambia Chamber of Commerce and Industry president Geoffrey Sakulanda said prudent economic management and fiscal discipline should be credited for Zambia’s high standing in the world.
Mr Sakulanda said the Government’s reduced borrowing from commercial banks had worked well for the economy.
Global Commodity Market Institute country director Mwango Chisha said Zambia should maintain prudent economic management to attract more FDI.
Mr Chisha said good economic policies were responsible for attracting massive investment from countries such as Brazil.
Hotel and Catering Association of Zambia Copperbelt chairperson Kenneth Mulalami said it was encouraging that Zambia earned a positive ranking because it was good for the hotel sector.
MMD Spekesperson and Education Minister Dora Siliya
Education Minister Dora Siliya has directed school management countrywide to allow pupils who fail to pay school fees and for those who buy uniforms from outside schools to attend classes.
At a Press briefing in Lusaka yesterday, Ms Siliya said the ministry had received numerous complaints of pupils being sent away due to non-payment of user fees which in some schools are high.
She urged school managers and parents to use Parent Teachers Association (PTA) meetings as a platform for them to discuss such issues and agree on how much should be paid as user fees.
Ms Siliya said the Government had set guidelines on how schools should be managed and could not allow children to stay away from school for even an hour because it would be retrogressive.
She said confusion in some schools resulted from poor planning between the parents and teachers.
The minister said it was therefore important for teachers and parents to attend PTA meetings to avoid such grievances.
Ms Siliya said the ministry was aware of some schools championing their own agenda and were chasing away pupils who had bought uniforms from outside the learning institutions.
And Ms Siliya took a swipe at some non-governmental oganisations always criticising Government programmes.
Mr. Tembo of John Laing Compound makes more than K70 000 a day in selling plastic bags
By Chanda K. Chishimba
Zambians should view the Lusaka Stock Exchange (LUSE) as an investment vehicle that can lead to a better and more financially rewarding future. If invested well, your money would work excellent wonders for you in the future. LUSE affords investors an opportunity to determine the direction of economic activity while going about with their personal lives. Investing in major companies on the LUSE provides one with the opportunity to earn a profit legally. Here are some tips on investing in the stock market.
Avoid investing all your money in one stock. The risk involved in not diversifying is that, if the company goes bankrupt or its revenue is consistently below market expectation, your investment is lost without recourse. The best investment strategy is to research all companies listed on the exchange and look for the following; industry, debt ratio, price per share, revenue per annum, number of employees, and management experience. It is very important to know how the company funds its operations. Is it a highly leveraged company? Does it have enough operating capital? What amount of debt versus income does the company have?
Set realistic investment goals and objectives. You need to determine whether you are a short-term or long-term investor. This helps in choosing an investment strategy that is in line with your goals. If you want to make a quick small profit, or you want to use the funds under 1 year, then you are a short-term investor. Be wary though, there are risks involved. If you are in the market for a long time, then you are a long-term investor. In this category, you can hopefully recoup any short-term losses you may incur. Remember, the stock market is like a pendulum. For great success in the market, “buy low, sell high”.
Understand the mix in your portfolio. For example, you cannot invest in 10 stocks in the same industry. If that industry goes bust, then there goes your hard-earned investment. Make sure to diversify among industries. Now this does not mean you invest in all industries. What it means is that you master an understanding of the inherent systemic issues in each industry. Some industries will boom in an economic upturn and some will not. This is very normal. Other industries, called defensive stocks, will boom in an economic downturn. Industries such as Health, Pharmaceuticals, and Defense will be your best bet in a declining economy. Look at average income for the industry and decide if that industry will be a good mix for your portfolio.
Determine how much money you can invest without sacrificing your current need for income. Set up a budget that ensures that you are adequately covered for current financial demands, as well as, how much you can save from your monthly pay. Although budgeting has been a thorn in the foot for most households, remember, this is your future as well as that of your family. Strict budgeting starts with reviewing your income versus expenses. Are some expenses necessary? Is it necessary to always eat out than to eat at home? Do you really need that extra pair of shoes? Once you cut down these unnecessary expenses, you relieve your income of extra stress. This extra income is what you can invest in the market.
Make sure to invest in stocks that pay a dividend. For the moment, do not view the dividend payment as income to be carelessly spent on non-essentials. Reinvest, or buy more stock in that company with the dividend. By doing so, you are increasing your share in the company, and any subsequent dividend payments increase your equity. A dividend is simply a distribution of profit by management. Notice though, that the price of the stock reduces by the amount of the dividend. So essentially, this is not even a profit for you the investor. This is the more reason why you need to reinvest, buy more shares, so in the future when the price of the stock is higher, and you own more shares through dividend reinvestment, you can sell the stock and realize a genuine profit.
Before you buy your friend a beer, learn to pay yourself first. This means prudently using your income by setting aside a small amount to invest. Do not think that the stock market is only for the wealthy. A small investment in the market today, goes a long way in the future. It is the financial management decisions you make today that determine your situation in the future. Investing in the market takes a lot of discipline.
Always find time to review your portfolio. Ignoring this advice is your sure way to losing everything you have invested. A portfolio review, once very 90 days, gives you, the investor, an opportunity to see which of your stocks are better performing and which ones are not. If it were your strategy to rebalance your portfolio, this would be the best time. However, remember that each time you rebalance, you are paying broker fees that eat into your profits. So, only rebalance when it is very necessary.
Know the competence of your broker. Determine if your broker is investing your money with your interest at heart. Some brokers will advise you to rebalance your portfolio every other day, saying this is in your best interest. You have the right to question such decisions. As stated earlier, each time you rebalance, you are paying a broker fee. Essentially, you are enriching your broker through your own ignorance. When you engage a broker, make sure they understand your strategy, goals, and objectives.
Take advantage of the Kwacha Cost Averaging when you invest in the stock market. Because what you pay for a stock per share is a cost to you, you can ensure that you average out this cost for better chances of lowering your cost exposure. Here is how it works; if you invest K500, 000 in a K50, 000 stock, the number of shares is 10. However, if you spread out the initial investment (K500, 000), and buy stocks at different times (when the stock price is lower), your average cost would be something like K45, 000, for 11 shares. When the price of the stock goes to K50, 000, your portfolio value would be K550, 000. Therefore, you would have already made a profit on your investment.
Remember, you do not have to invest in the stock market if you cannot afford to. However, whenever you can, make it a practice to invest as this gives you an opportunity to gain from the expertise of management in these companies, their growth, and expansion. The stock market provides you with a probable opportunity to gain a profit legally. Remember too, that, investing in the market requires patience. If you are not the patient type, then the casino is your only bet.
President Rupiah Banda greets Service Chiefs, who came to see him off on friday, at Lusaka City Airport before departure for Eastern Province to open the MMD provincial Conference
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President Rupiah Banda with his supporters at Lusaka City Airport before departure for Eastern Province to open the MMD provincial Conference
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President Rupiah Banda talking to Chief government sporkesperson Lt Gen Ronnie Shikapwasha at Lusaka City Airport before departure for Eastern Province
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President Banda arrives in Chipata aboard the Zambia Air Force plane
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President Banda boarding his official vehicle when he arrived in Chipata
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A busload of MMD cadres arrives at Chipata Teachers' Training College for the MMD Eastern Province conference
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An MMD cadre dressed in a Rupiah labelled T-shirt captured at the MMD Eastern province conference
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MMD cadres wait to receive their matresses before the start of the Eastern province conference
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An MMD cadre going to his room after receiving a matress for the Eastern province conference
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An MMD cadre going to his room after receiving a matresses for the Eastern province conference
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MMD cadres vying for the provincial positions captured in campaigning in Chipata
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MMD cadre vying for the provincial positions captured in a campaign mood in Chipata.
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Delegates to the MMD conference dancing before the start of the event
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President Banda arrives at Chipata Teachers Training College for the MMD Eastern province conference
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President Banda captured with a smile on his face
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MMD acting National secretary Chembe Nyangu captured during prayer at the start of the MMD Eastern province conference
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Delegates to the MMD eastern province follow proceedings during the event
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MMD Eastern province chairman Kennedy Zulu talks to President Banda
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Kapoche MP and Foreign Affairs deputy Minister Fashion Phiri addressing party members
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An MMD cadre carrying the party's chitenge material
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Chipangali MP Vincent Mwale raises the Patriotic Front party symbol when he was called on to talk to members of the party in Chipata
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Delegates to the MMD Eastern province conference casting their votes for the new leadership
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Delegates to the MMD Eastern province conference casting their votes for the new leadership.
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MMD acting National Secretary Chembe Nyangu stretches after a long tedious process of counting votes.
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MMD chairman for Mines, Kaunda Lembalemba captured while talking on the phone.
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One of the winning candidates to the MMD Eastern province conference being congratulated
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cadre or policeman...A policeman captured taking results of the MMD Eastern province conference instead of concentrating on police duties of maintaining peace and order
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MMD Eastern province vice chairman Sam Thole is lifted after winning the elections
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MMD Eastern province chairman Kennedy Zulu is wrapped in chitenge material after he won the elections
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Chilufya Chishala (l), the man who withdrew from the race congratulates MMD Eastern province chairman Kennedy Zulu after Mr Zulu won the elections
President Rupiah Banda has said that the country will not hold elections on 1st April this year, as alleged by PF leader Michael Sata.
President Banda ssaid Mr Sata’s statement that he has set April 1st, which is fools day, as date for the tripartite elections are false.
And President Rupiah Banda has bemoaned the low number of registered voters in North Western Province in the on-going voter registration exercise.
President Banda said the number of registered voters in the province so far was unsatisfactory adding that there was need for more people to be captured in the exercise so that they participate in this year’s general elections.
ZANIS reports that the President was speaking shortly after arrival at Solwezi airport when he addressed Movement for Multi-party Democracy (MMD) party officials, Heads of Government and Parastatal institutions and members of the general public who were on hand to receive him.
President Banda said he wanted to see a bigger number of people registered as voters in the province as it was the only way they could exercise their right to vote in this year’s general elections.
He has since called upon Movement for Multi-party Democracy (MMD) party officials in the province to ensure that more people were captured as voters.
President Banda is in Northwestern Province to officially open the MMD National Provincial conference after successful ones in Central, Copperbelt, Western and Eastern Provinces.
He was accompanied by Ministers of Finance and National Planning Dr Situmbeko Musokotwane, Works and Supply Mike Mulongoti, Parliamentary Chief Whip Vernon Mwaanga and MMD National Chairman Michael Mabenga.
On hand to receive him were Cabinet Ministers of Energy Kenneth Konga, Foreign Affairs Kabinga Pande, Gender and Development Sara Sayifwanda, Youth, Sports and Child Development Kenneth Chipungu, Education Deputy Minister Richard Taima, Provincial Minister Daniel Kalenga, Senior MMD party officials, cadres and Heads of Government and Parastatal institutions.
The Chambishi Magistrates court has granted K500 million bail with two working sureties to each of the seven suspects in their own recognisance for allegedly stealing 30 copper blisters worth over K1.7 billion.
This is in a case in which Richard Chileshe Mbulu, John Mapona, Victor Bweupe, Evans Mulenga, Mukwapatila Tembo Kampango, Kelvin Tembo and Danny Ngosa are charged with copper theft contrary to section 275 (A) chapter 87 of the Laws of Zambia.
ZANIS reports that in his ruling on Monday, Kitwe Magistrate, Davy Simfukwe said it was only fair for the court to exercise its discretion in favour of the seven accused persons.
Particulars of the offence were that the seven on December 29, last year in Chambishi, jointly and whilst acting together with other unknown persons allegedly stole 30 blisters of copper valued at K1,765,090,800,the property of Chambishi Copper Smelter (CCS).
Mr. Simfukwe granted the accused K500 million bails each in their own recognisance with two working sureties in managerial positions from established companies.
“The said sureties will only be allowed to sign for the accused upon Investigative Officers visiting both their residential and business premises and a report be made to the court as to their standing in society,” Mr Simfukwe said.
Magistrate Simfukwe ordered each accused person to surrender their title deeds to any of their properties valued at K500 million or in alternative handover a motor vehicle worth K500 million to the court.
Mr Simfukwe said the motor vehicles shall be parked at the Copperbelt Division Prosecution Offices located at the Ndola Central Police in an event that the accused decided to do so.
He also ordered the accused to surrender their passports to the court.
Mr Simfukwe ruled that the accused should not leave the jurisdiction of the court without authority and that they should report to the Copperbelt Division Prosecution offices every Friday at 10:00 hours until the case was disposed of.
Earlier, Defence Lawyer Freddie Chalenga applied that his clients be granted bail pursuant to section 123 (1) of the Criminal Procedure Code (CPC) Chapter 88 of the Laws of Zambia.
Mr Chalenga argued that his clients were Zambians of fixed abode and that the offence they were charged with was bailable.
But the State objected to the bail application on grounds that the crime was highly organised.
The State argued that it took five days for Police Officers to arrest some of the accused and that Chileshe, Kampango and Tembo only surrendered to Police after an ultimatum.
Southern Province Minister, Elijah Muchima has said farming would continue improving the socio-economic status of people despite poor rainfall patterns in some parts of region.
Mr Muchima said Southern Province is historically a great contributor to the country’s grain basket and noted that a number of maize bags that contributed to the 2.8 million tonnes Bumper Harvest came from the Province.
He said farmers had realised the importance of agriculture as a business venture owing to the incentives that Government had put into the Agriculture sector.
The Minister was speaking in an nterview with ZANIS at Cabinet Office yesterday.
‘’However some parts of the Province are not likely to benefit from agriculture due to the poor rainfall pattern that these areas experience,’’ he said,
Notable places with poor rainfall patterns are Livingstone,Sinazongwe,and some parts of Zimba.
The maximum annual rainfall in these areas is about 800mm and the altitude is 24cm above sea level.
And Livingstone District Agriculture and Coordinator (DACO),Tundu Kaonga advised farmers in places around Zambezi valley where rainfall was erratic to practice conservation farming as a an alternative.
Mr.Kaonga said Conservation farming reduced moisture evaporation from the soil surface and lessened water run-off.
The DACO said the long term benefits of conservation farming included stable crop yield.
Mr.Kaonga said this during at interview at his office recently.
Meanwhile, Livingstone farmers Cooperative Chairperson Rwinnick Mapanza urged his fellow farmers to seek professional advice on new farming methods.
He said some farmers did not cooperate with Extension Officers who could offer them good farming techniques.
Two Chinese supervisors, Xiao Lishan, center, and Wu Jiuhua, head down, were accused of wounding 13 workers at a mine in Sinazongwe during a labor dispute. Getty Images
Two Chinese Collum Coal Mine Managers in Sinazongwe District, Southern Province – Zambia, were arrested on Tuesday for jumping bail.
This is a matter in which they are facing attempted murder, contrary to Section 215 CAP 87 of the Laws of Zambia.
The duo Xiao Li Shan 48 and Wu Jiu Hua 46 and their sureties Kennedy Simbayi 30, and Lewis Chiyumbe 45, was arrested following a bench warrant issued by Choma Magistrate Jacob Mbolela.
The Managers and their sureties were arrested at Choma Magistrate Court and immediately taken to Choma Central Police.
They were accompanied by their lawyers George Chisanga and Remmy Mainza and will appear in court on Wednesday.
The Choma Magistrate Court recently issued a bench warrant for the arrest of the accused Chinese Collum Coal Mine Managers and their sureties for failing to appear before the court for mention.
The matter is being prosecuted by State Prosecutor Evans Mbonge.
According to the particulars of the offence, Xiao Li Shan and Wu Jiu Hua on the 15th day of October 2010 in Sinazongwe, jointly and whilst acting together, unlawfully attempted to murder Bowas Siapwaya.
The duo is alleged to have unlawfully attempted to murder Boston Munakazela, Villason Mwanamusiya, Ward Sianaini, Wisbone Simutombo, Reuben Syakalumbwe, Alfred Senuka, Warren Muntanga, Abin Siameba, Brighton Siamfuno, Simon Siamine, Madinda Siamubotu, and Vincent Chenjela.
Dario Bonetti has said there is more joy monitoring players abroad than at home.
Bonetti has come under criticism over the team he spends abroad than at home.
The Italian, who returned to Zambia on Saturday, said he has a good idea about local player’s profiles as far back as September 5 when his team beat Comoros 4-0 in a 2012 Africa Cup Group C qualifier in Lusaka.
“From the time I signed my contract I monitored local players until we played Comoros,” Bonetti said. “Am on holiday when I’m here. I live at a hotel with a swimming pool doing nothing.”
Bonetti said it now time to shift his focus on visiting foreign-based players in particular the European based players.
“My job is in Europe,” Bonetti said. “I have to interact with the foreign based players, see how they play, talk to other coaches and exchange programs.”
Zesco United on Wednesday leave for Tanzania while on the same day, Lucky Msiska takes his Under-23 team to Lubumbashi for a brief training camp.
The 2010 league champions have been invited for a three-club tournament to be staged in Dar-es-Salaam this weekend that will involve Tanzanian giants Simba and Young Africans.
Zesco will face Young Africans on January 15 and 24 hours later face Simba at the Old National Stadium in Dar-es-Salaam.
The team is expected back home on January 17.
Meanwhile, just days after a wounding 3-2 loss to Zimbabwe in a Maputo 2011 All-Africa Games qualifier, the Zambia under-23 team visit DR Congo for a training camp.
While in DR Congo, Zambia Under-23 will play two training games against African club champions TP Mazembe and their local rivals Lupopo.
And Msiska has drafted in Under-20 defender Christopher Munthali from Konkola Blades to try and saw-up his leaky defence.
File: President Rupiah Banda with his supporters at Lusaka City Airport before departure for Eastern Province to open MMD provincial Conference
President Rupiah Banda has urged Zambians to ignore prophets of doom saying this year’s polls will be marred by violence.
The President said contrary to what some political leaders are saying, he is optimistic that people would go to the polls without engaging in any form of violence, as Zambians cannot turn against one another.
Mr. Banda said such negative statements have the potential to scare away foreign investors and must be discouraged.
He has re-assured the nation that this year’s tripartite elections would be held in a peaceful and transparent manner.
Mr Banda noted that the polls would be conducted in accordance with laid down electoral regulations and guidelines.
And President Banda has directed the MMD leadership in the North Western Province to ensure that more voters are captured in the region ahead of this year’s tripartite elections.
Mr Banda said he is not happy that the North Western province has not captured as many voters compared to other regions.
President Banda was speaking on arrival at Solwezi airport this morning when he addressed residents who welcomed him.
Meanwhile, Mr Banda has predicated that opposition Patriotic Front leader Michale Sata would not win this year’s elections because he has now become a perpetual loser with nothing to offer the country.
He has urged MMD Members country wide to go flat out and campaign ahead of this year’s polls, so that the ruling party retains power with more votes.
Mr. Banda said his Government would continue taking development to all parts of the country.
President Banda is accompanied to the North Western Province by Parliamentary Chief whip Vernon Mwaanga, Finance Minister Situmbeko Musokotwane and his Works and Supply counterpart Mike Mulongoti.
The President was welcomed by Provincial Minister Daniel Kalenga, Foreign Affairs Minister Kabinga Pande and Youth, Sport and Child Development Minister Kenneth Chipungu.
[ ZNBC ]
The Electoral Commission of Zambia (ECZ) has set March 3rd 2011 as the date for the Mporokoso by-election.
The by-election follows the resignation of area Member of Parliament Maynard Misapa who defected to the opposition Patriotic Front recently.
ECZ Public Relations Manager Cris Akufuna says four local Government by-elections will also be held on the same day.
Mr Akufuna says vacancies in the four wards have arisen due to deaths and resignations by incumbent councilors.
The Local Government by elections will be held in Katwe and Vyamba wards of Mpulungu district.
Other are Kawambwa Ward in Kawambwa district, and Lunga ward in Samfya districts.
Mr Akufuna said in a statement to ZNBC news on Tuesday that aspiring candidates should lodge in completed statutory declarations and nomination papers by February 10, 2011.
Asprising candidates for the parliamentary seat have also been asked to take along nine supporters who are registered voters in Mporokoso constituency.
Mr Akufuna says all candidates will be required to pay five hundred thousand kwacha non refundable nomination fees.
He says election monitors and the media wishing to cover the by- elections should apply to the ECZ for accreditation.
Former PF party general secretary Edward MumbiFormer Patriotic Front Secretary General Edward Mumbi has advised PF leader Michael Sata not to draw Second Republican President Frederick Chiluba into discussing the Barotseland agreement.
Mr. Mumbi says the statement attributed to Mr. Sata in a private newspaper of Tuesday in which he is urging Dr. Chiluba to state his position on the Barotseland agreement is misleading.
Mr Mumbi says it is unfair for Mr. Sata to say that he is going to honour the Barotseland agreement if voted in office, when he was against it when he served under Dr. Chiluba’s Government.
Mr. Mumbi has challenged Mr. Sata to tell the nation the truth on why he wrote a letter to Dr. Chiluba to pressure him to drop the recognition of the Chieftainency of the Litunga when he served under him as republican President.
President Rupiah Banda has warned Zambians against taking part in the planned meeting over the Barotse agreement in Mongu this Friday.
President Banda says the planned meeting by the group calling itself the Black Bulls will not take place.
Mr Banda has also warned of stern action against persons circulating flyers in Mongu, calling on people that are non Lozi speaking to leave Western province by Friday 14.
The President told journalists before departure for North Western province this morning that it is not fair that government should discuss in the press, issues surrounding its meetings with the Barotse Royal Establishment.
And the Cheke Cha Mbunda Cultural and Writers Association has commended Government for the manner it is handling issues surrounding the Barotse Agreement of Western Province.
Association Chairperson Ndandula Libingi said his association is happy that Government is handling the issues cautiously and is confident that the matter will be resolved amicably.
Mr Libingi however, advised Government to ensure that the matter is dealt in a way that will restore dignity and honour to all involved parties.
He said this at a Press Briefing in Lusaka today.
[pullquote]Meanwhile, the Association Chairperson has explained that the Barotse Agreement of 1964 does not call for cessation of Western Province as demanded by the advocates.[/pullquote]
Meanwhile, the Association Chairperson has explained that the Barotse Agreement of 1964 does not call for cessation of Western Province as demanded by the advocates.
Mr Libingi said the agreement which was the Barotse agreement goes beyond Western Province and extends to all the line of rail, including North Western, and Copperbelt Provinces.
He said it is in this vein that the agreement should therefore be understood in its right context as it also involves various stakeholders.
Mr Libingi further expressed sadness that some people are misinterpreting the agreement and issuing threats against other ethnic groupings in the country hence jeopardising their lives.
He has since called on Government to arrest such people and charge them with treason.
