Zambia Daily Mail

ISSUE NO. 009 E-paper link: https://lnkd.in/dg3Y6dVX

ISSUE NO. 011 E-paper link: https://lnkd.in/dg3Y6dVX

ISSUE NO. 02 E-paper link: https://lnkd.in/dg3Y6dVX

ISSUE NO. 010 E-paper link: https://lnkd.in/dg3Y6dVX

SAVE THE CHILDREN ROBBED SIX armed and masked criminals have broken into Save the Children offices in Petauke and gone away with property amounting to K654,046 after tying two security guards. The criminals who were reportedly armed with metal bars overpowered two security guards who were guarding the premises and locked them in the toilet. Eastern Province Police Commanding officer Robertson Mweemba said the incident happened around 01:45 house yesterday. Mr Mweemba said that unknown six male Persons armed with metal bars broke into the offices after over powering two Security guards and stole from there-in property valued at K654,046. Police have launched investigations into the matter. MAYENGO NYIRENDA Petauke

SOME economists have attributed the weakening of the #Kwacha to increased reliance on power imports, exacerbated by the severe drought. In December last year, power utility #Zesco announced that it was spending about US$90 million to import 500 megawatts of power every month. As of Tuesday, the Kwacha was at a record low for the 11th consecutive day, trading at 28.12 per dollar on bid and offer. The statement also indicates that the elevated inflation profile for 2025 is largely due to the recent depreciation of the exchange rate and the increase in electricity imports. In an interview, Association of Bureaux de Change president Paul Kalumba said the unexpected increase in power imports has intensified pressure on the Kwacha. Mr Kalumba also pointed out the ongoing food insecurity caused by the drought, leading to an increase in food imports which, in turn, has placed greater demand on foreign currency. Mr Kalumba, however, lauded efforts to diversify energy sources, with a major focus on solar energy. He acknowledged the challenges posed by the drought but highlighted positive developments in renewable energy investments.

MFUWE Patriotic Front (PF) lawmaker Maureen Mabonga, accused of seditious practices, has denied uttering seditious words, contending that she was only alerting law enforcers about some threats. This is in a case the lawmaker was found with a case to answer in two counts of seditious practices after she allegedly incited civil unrest between May 25 and 28 last year. She is further alleged to have uttered statements that could be construed as inciting violence against a specific ethnic group. Ms Mabonga uttered the words after fugitive former Petauke lawmaker Emmanuel ‘Jay Jay’ Banda was purportedly abducted. The accused denied the allegations but after several witnesses testified against her, Lusaka resident magistrate Trevor Kasanda found her with a case to answer and placed her on defence last October.

MINISTER of Transport and Logistics Frank Tayali has urged Zambia Airways to improve its service delivery by ensuring timeliness, implementing an efficient booking system, and maintaining high technical standards. Mr Tayali said Government is aware of public concerns about the national airline and, as a major stakeholder, it is committed to ensuring Zambia Airways operates effectively. He emphasised the need for Zambia Airways management to acquire a second Boeing 737-800 aircraft to meet the rising demand due to increased flight operations. He also expressed confidence in the airline’s partnership with European Airways, one of the leading airlines, and urged it to inspire trust among passengers. Civil Aviation Authority director general Derrick Luembe said a recent inspection of Zambia Airways’ aircraft revealed concerns, such as poor cabin furnishings and interiors. Zambia Airways chief executive officer Thomas Woldesenbet acknowledged the concerns and pledged to address them.

ZAMBIA Public Procurement Authority (ZPPA) has suspended Prochilu Contractors and Suppliers from participating in public procurement for a period of one year due to underperformance in a K423,150 construction deal. Prochilu Contractors and Suppliers signed a contract with Sesheke Town Council valued at K423,150.04 in September 2022, with a stipulated contract delivery period of four months. “Two advance payments were made to the contractor amounting to K235,787.51, translating to 55.7 percent of the total contract sum,” ZPPA public relations manager Iñutu Mushambatwa said in a statement. The company was contracted to construct a three-classroom block at Kaliki Primary School in Sesheke district. However, Sesheke Town Council reported that the status of the contract was estimated at 44 percent progress, and the quality of the work was deemed poor. Ms Mushambatwa said after investigations, it was revealed that the company not only failed to complete the works within the contract duration, but also engaged unskilled labour, resulting in substandard work. ZPPA has also suspended Flashnet Systems Limited from participating in public procurement for allegedly submitting a National Pension Scheme Authority (NAPSA) compliance certificate and a Zambia Revenue Authority (ZRA) tax clearance certificate that were both found to be counterfeit.

#ZAMBIA recorded an increase in investor demand for government securities in the last quarter of 2024 following improved Kwacha liquidity conditions, according to the Zanaco economic review and outlook. The #Zanaco quarterly publication on economic review said demand for government paper rebounded during the third quarter of 2024, specifically in terms of the average bid per bond auction conducted during the course of the quarter which jumped by 93.2 percent. “In the like manner, the average bid amount per treasury bill auction rose sharpest in two-and[1]a-half years by 69.4 percent,” the report stated. “The rebound in investor demand for securities followed improved Kwacha liquidity conditions and significant external debt restructure progress which wooed offshore investors [especially in the month of September 2024],” the review said. Zanaco believes that in terms of external factors supporting the investor demand in government securities, the start of the global interest cuts [especially in the United States] made emerging market fixed income assets [including Zambia’s bonds] attractive for offshore investors.