By Nawa Mutumweno – A $600 million oil refinery is to be established in Ndola on the Zambian Copperbelt under a public private partnership (PPP) to augment Government’s efforts to find a long-term solution to high fuel prices and shortages. Bwana Mkubwa Oil Refinery, which will be situated at the Sub-Sahara Gemstone Exchange Industrial Park, is expected to refine about five million litres of fuel per month and will reduce the cost of fuel by about 30%. According to Sub Sahara Gemstone Exchange Industrial Park president Phesto Musonda, the oil refinery will also create business opportunities for firms that were... Continue Reading
Publish Date: Monday, January 23rd 2012 |
By Nawa Mutumweno – The Netherlands has pledged to support UNICEF’s education programme in Zambia at $10 million (ZMK50 billion) up to 2013, focusing on the most vulnerable children in the country. Harry Molenaar (Nethelands ambassador to Zambia) and Drlyorlumun Uhaa (UNICEF country representative) signed the agreement in Lusaka on Monday, Januaary 16, 2012. The UN agency would channel the funds through direct financial and technical support to the Ministry of Education (MoE), according to a statement released by UNICEF. Ambassador Molenaar said the programme was tailored to imporove children’s access to quality education. “The overall goal of the programme... Continue Reading
Publish Date: Saturday, January 21st 2012 |
By Nawa Mutumweno – Ecobank Zambia is investing over $1 million in upgrading a core banking software application, Flexcube, to assist prevent fraud and cyber crime. According to the bank’s managing director Charity Lumpa, the changeover to Flexcube was effected on October 31, 2011. She was speaking at a media briefing in Lusaka recently. Flexcube is Oracle Corporation’s banking automation software that enables global financial institutions to provide a more efficient service to customers. The technology and telecommunications platform is supported by three data centres located in Accra, Lome and London which provide real time disaster recovery capabilities. Meanwhile, the... Continue Reading
Publish Date: Saturday, January 21st 2012 |
By Nawa Mutumweno – Zambia is to host the second African Organic Conference from May 2 – 4, 2012 in Lusaka. Being held under the theme; ‘Mainstreaming Organic Agriculture in the African Development Agenda’, the event is tailored to represent the desires of the continental organic fraternity and reflects the current declaration of the African Union and the United Nations agencies responsible for trade and environmental programmes. The overall objective is to report and further promote mainstreaming of organic agriculture in African government policies, in African intergovernmental organizations as well as among development partners. “In this regard, the conference will... Continue Reading
Publish Date: Wednesday, December 28th 2011 |
By Nawa Mutumweno- The African Development Bank (AfDB) has provided credit lines valued at $13. 5 million to two commercial banks to support the development of the private sector and small and medium enterprises (SMEs) IN Zambia. According to AfDB country representative Freddie Kwesiga, the institution has provided Zanaco with $5 million from the initial allocation of $10 million while Investrust Bank has received $3.5 million as part of its initiative to close the financing gap for SMEs. He disclosed this at the networking forum of the Zambia SME programme in Lusaka recently. Supporting SMEs will help alleviate poverty and... Continue Reading
Publish Date: Monday, October 31st 2011 |
