Business News

Tue, 16 May 2017 10:25:32 +0000

ZDA ready to fund agro-processors

By SHEILA SAKUPWANYA

THE Zambia Export Development Fund (ZEDEF) has appealed to non-traditional exporters in the country to venture into product development projects so that they can benefit from the US$1.5 million funding.

ZEDEF is a department under Zambia Development Agency (ZDA) mandated to lend funds to non-traditional exporters in agro-business processing who could not access funding from the banks to grow their businesses.

Speaking in an interview with the Daily Nation, ZEDEF fund manager Albert Halwampa disclosed that the US$1.5 million fund was available and that the application letters were ready for the non-traditional exporters throughout the country.

“We have already disbursed US1.5 million and we are remaining with US$1.5 million funding to lend to the non-traditional exporters. The highest we lend is US $100,000 while the lowest is US$10,000 and application forms are available at ZDA,” he said.

He said the money was mainly used for financing the pre-shipping and post- shipping of raw materials for those who want to process various non-traditional export products in Zambia.

Mr Halwampa said ZEDEF had over 18 sub-sectors of diversification and were eager to work with non-traditional exporters in various sectors of the economy.

He said initially the funds were disbursed through producer associations but the strategy had since changed and ZEDEF was now dealing directly with the non-traditional exporters.

“We have now decided to deal with non-traditional exporters directly so that we can monitor progress and also teach them the necessary skills that would boost their businesses,” Mr Halwampa said.

Mansa to have new shopping mall

By MAILESI BANDA

GOVERNMENT plans to construct a modern shopping mall on the land that formerly belonged to Mansa Batteries, Luapula Province minister Nickson Chilangwa has announced.

The minister said the new shopping mall would not only bring more investments in the province but would also create employment opportunities for the local people.

Mr Chilangwe said the construction plan was expected to be approved by July 2017.

Speaking in an interview with the Daily Nation, Mr Chilangwa said the projects he was implementing in the province were meant to add value to the region and contribute to the economic growth of the country.

He explained that it had been difficult for Government to continue keeping the land for the battery plant when residents had started encroaching on it and building houses.

“It has been difficult for us to continue with dry cell operations from that area because the land has been encroached on by residential plots which makes it difficult to get ZEMA approval for the revamping of the factory, hence the decision to construct a modern shopping complex,“ he said.

He explained that there were plans to get the new owners of the plant Astro Holdings land in the new industrial zone for the production of batteries once the prices of dry cell batteries improved.

“We have decided that the new thing to do is to get the majority shareholders who are Astro Holdings another industrial yard and once the prices for dry cells go up and it becomes possible to produce dry cells they will get into production,“ he said.

He said the challenge with starting the production of dry cells had been the market price and that once it became economically viable to sustain the factory, it would be re-started.

StanChart pledges its commitment to Zambia

By BUUMBA CHIMBULU

STANDARD Chartered Bank Zambia’s commitment to the country’s economy and local communities remains firmly intact while the bank launches new innovations, chief executive officer, Herman Kasekende, has said.

Mr Kasekende said the bank was determined to continue pioneering banking innovations and to leverage on its unique global footprint to offer even better, more efficient and secure banking solutions.

He was speaking at the launch of its “No.1 Bank: Power your ambitions” campaign to highlight its recent achievements and reiterate its commitment to Africa and the Middle East (AME) region.

“Standard Chartered Bank has been operating in Zambia for 110 years. As the first bank in this country, our commitment to Zambia’s economy and to local communities remains firmly intact,” he said.

“The No. 1 Bank campaign is a reflection of this commitment to Zambia, and indeed the Africa and Middle East region, as well as our record of delivering world-class banking services and solutions for our clients. This includes digital banking innovation, which remains a key priority,” he said.

Mr Kasekende said the No. 1 Bank campaign also demonstrated the bank’s leading position in the market. In 2016 Standard Chartered Bank was named ‘‘Best Bank in Zambia’’by two prestigious awarding bodies.

And the bank’s regional CEO of Africa and Middle East (AME), Sunil Kaushal, said the institution’s in-depth local knowledge and extensive global expertise had enabled Standard Chartered to effectively demonstrate its position of strength in delivering its client needs.

“Backed by market recognition for our recent achievements, the No. 1 campaign reiterates our commitment in staying No. 1 in AME to our staff, clients and the local communities where we operate,” he said.

“To maintain our leadership position in the AME, through this campaign, we hope to demonstrate our drive and commitment in providing award winning banking solutions, strategic advisory services and funding for our corporate clients through our unique global footprint,” he said.

Mr Kaushal said 2016 saw a turnaround performance for the bank’s AME business despite the diverse set of challenges faced across the region.

ZABS seizes K1,500 expired goods in Kapiri

By BUUMBA CHIMBULU

A ROADSHOW and market surveillance recently conducted in Kapiri Mposhi District of Central Province by the Zambia Bureau of Standards (ZABS) has resulted into the confiscation of expired goods worth K1,544.34.

The exercise conducted was aimed at sensitizing consumers and traders in the area on standardisation and quality assurance matters as well as to check the levels of compliance to set standards on regulated products.

ZABS head of marketing and public relations, Hazel Zulu, said the bureau conducted the roadshow in Kapiri Mposhi due to its strategic location as a gateway to both the Copperbelt and the Midlands.

Ms Zulu said there was also an increase in business activities in the area.

“We realise that Kapiri Mposhi is a very active and busy town in terms of business as a lot of products, including imported used motor vehicles, pass through this town,” she said.

“We also want to intensify sensitization programmes in areas that have a lot of business activities such as Kapiri Mposhi as most of the goods that we regulate pass through that town,” Ms Zulu said.

She said the bureau’s team of inspectors seized some products valued at K1, 544.34 from Shoprite Kapiri and LK Limited.

Ms Zulu said products confiscated were either expired or had insufficient labelling information, such as missing batch numbers and manufacturing dates and other untraceable information.

She explained that the products seized included household baking flour, biscuits, cake flour, cooking oil and dishwashing liquid.

“ZABS would like to warn traders and retailers in the area and around the country against selling substandard products as it is a violation of the Standards Act Cap 416 of the laws of Zambia. We have always said that the quality of expired products cannot be guaranteed and is therefore a risk to the health of consumers,” she said.

Ms Zulu urged consumers to remain quality and safety conscious and safeguard their health by making sure that they checked information on products before they bought them.

She appealed to consumers to report to ZABS any trader or retailer selling compromised products.

Agri must be used to create wealth, says Grogan

BY MAILESI BANDA

IRRIGATION can help improve productivity for Zambian farmers as the country continues to experience increasing growth in market demand for agricultural produce, Zambeef chief executive officer Francis Grogan has said.

Mr Grogan urged farmers across the country to ensure that the quality of their produce was maintained and not just focus on increased production.

Speaking when a group of parliamentarians toured Zambeef farms in Chisamba, Mr Grogan said farmers should begin to view agriculture as a way to create wealth both at individual and national levels as opposed to purely a means of sustenance.

“It is clear that agriculture is a critical factor in the economic transformation of Zambia, in addition to the mines. The urgency with which the task of developing the sector must be undertaken cannot be over-emphasized,“ he said.

He said agriculture must be presented not only as a means of earning a livelihood for farmers but also as a genuine tool for wealth creation, adding that farmers must learn to look at agriculture as a business capable of generating wealth.

He said the growth of the agricultural sector would lead to the establishment of new industries, employment creation as well as generation of much-needed revenue in tax and foreign exchange earnings from exports.

“While we are aware that market demand drives productivity, we are sensitive to the fact that other vital factors such as road infrastructure, storage and inputs among other things require equal consideration,“ he said.

He said demand for food and agriculture-based products in Africa was expected to reach US$1 trillion by 2030 and Zambia needed to be ready to tap into this opportunity.

And chairperson for Parliamentarian Committee on Agriculture and Livestock Maxas Ng’onga said the tour was to enable the law makers know the challenges big institutions like Zambeef faced in irrigation and how they benefited from Government policy.