LUSAKA – The United States questioned Zambia’s commitment to fighting corruption on Saturday after authorities said they would not appeal a court’s refusal to allow recover funds from former President Frederick Chiluba. In 2007, a British judge ordered Chiluba to repay $58 million to compensate for money he was accused of stealing during his 1991-2001 stint in office. A Lusaka high court ruled last week that Zambian laws did not allow the enforcement of rulings made in London, causing an outcry from the main opposition Patriotic Front (PF) and anti-corruption groups. Information Minister Ronnie Shikapwasha said the government had accepted... Continue Reading
Publish Date: Tuesday, August 24th 2010 |
By Nawa Mutumweno – Despite the winds of the economic downturn having blown through the country recently, Zambia’s allure to attract investments in many sectors of the economy has not faded. With a magnetizing business environment in place, the country has continued to ‘beckon’ and retain various Greenfield investment ventures that are set to change its economic configuration. Commerce, Trade and Industry minister Felix Mutati last November reiterated Government’s desire to continue reforming and improving the business framework in order to accelerate developmet. Government has introduced programmes that support private sector growth as the engine to drive the economy to... Continue Reading
Publish Date: Saturday, August 14th 2010 |
By Nawa Mutumweno – Zambia has over the years established and enjoyed favourable and sustainable ties with the East, specifically India, China and Japan. These ties spring from the pre-independence days and were cemented during Zambia’s early days under President Kenneth Kaunda. During a recent visit by Indian Vice President Shri Mohammad Hamid Ansari, he called for the deepening of bilateral ties between the two countries. This visit was undertaken between January 5 and 7, 2010 which also saw him visiting Botswana and Malawi. “Zambia and India have historically been close allies in the struggle for independence, equality, human rights,... Continue Reading
Publish Date: Saturday, August 14th 2010 |
By Nawa Mutumweno – The Zambian Information Communications and Technology sector has grown substantially in recent times, becoming a key factor in the country’s economic dispensation. From the time the ICT Policy was launched in March 2007, the sector has recorded developmental strides worth writing home about. The policy, although deficient in some areas at the time, has given birth to legislative instruments that have potential to spur unprecedented growth in all the ICT sub-sectors. One of the key objectives of the policy (which promulgates telecommunications, information technology, electronic media and postal services) in terms of developing the Zambian ICT... Continue Reading
Publish Date: Saturday, August 14th 2010 |
By Nawa Mutumweno – The Zambian financial sector was not adversely affected by the global financial crisis mainly due to the limited integration of the sector into the international markets. Most banks remained adequately capitalized during the turbulent economic blues. The stability enjoyed in the financial sector was also attributed to the Central Bank’s enhanced vigilance and interaction with the domestic financial system to ensure that there was strict adherence to its supervisory guidelines. Primarily, the objective of the monetary policy in 2009 was to achieve an end-year inflation target of 10 percent. The Bank of Zambia (BoZ) identified the... Continue Reading
Publish Date: Friday, August 13th 2010 |
