Posts in category: Uncategorized

SIBANYE Stillwater remains in the hunt for Mopani Copper Mines (MCM), it said yesterday, as the sale process stretches beyond the completion date envisaged by Zambia’s government.

The Johannesburg-based precious metals producer is on the investor shortlist of potential buyers of the state-owned copper mines. 

The Zambian government had expected to have chosen the winning bidder by the end of July.

“Our involvement in the process to extend our copper portfolio into Zambia through our bid to acquire the Mopani operation is ongoing,” said Sibanye CEO Neal Froneman.

The South African platinum mining giant is seeking to expand in metals that are key to the green revolution.  It has already bought lithium and nickel assets in Europe and the U.S. while its domestic operations continue to be hit by rolling electricity blackouts and rising crime.

Sibanye’s profit in the six months to June 30 fell 37 percent to $420.87 million, it reported yesterday.

Platinum and palladium output at its Stillwater operations in the U.S. dropped by 11 percent. ñ REUTERS.

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A new study has revealed important associations between the gut microbiome and eczema in infancy and has established the basis for the potential prevention and treatment of eczema via modulation of the gut microbiota. The study was published in mSystems.

BUSINESSMAN Shaderick Kasanda has been arrested by law enforcement agencies in connection with fresh charges to be imposed on him. This came to light this afternoon when the case involving Kasanda and 10 others was called before the Lusaka Magistrate’s Court. Mr Kasanda and 10 others are charged with Espionage and are appearing before Lusaka […]

By BUUMBA CHIMBULU in Dakar

THE third African Conference on Debt and Development (AfCoDD III) has opened in Senegal today where Zambia, in one of the sessions, will be used as a case study on the efficiency of the G20 Common Framework in providing debt treatment.

The African Forum and Network on Debt and Development (AFRODAD) in partnership with the Trust Africa will take place from August 30 to September 1, 2023 under the theme “The 4Rs for Africa Rule-Maker: Reimagining, Rethinking, Reorganising, and Remobilising for an African World Order.”

AFRODAD in a statement said this flagship event aimed to provide a platform for Africans to engage in critical discussions about Africa’s economic, political, and social self-determination.

“AfCoDD III builds upon the success of its predecessors, setting the stage for an important dialogue that addresses the complexities of Africa’s current debt landscape and the need for a new approach to economic development.

“The conference aims to foster innovative ideas and strategies that redefine Africa’s role in the global financial architecture and drive the continent towards a sustainable and equitable future,” AFRODAD stated.

According to the programme, one the sessions during the conference is the efficiency of the G20 Common Framework in providing debt treatment which Zambia would be used as a case study.

The proposed session would discuss on the efficiency of the G20 Common Framework in treating sovereign debt, with experiences from Zambia.

“Presenter will examine Zambia’s debt situation within the broader context of African debt challenges. Discussants will (i) share lessons learned and best practices that can be adopted by other African countries facing similar debt challenges, (ii) discuss potential opportunities, challenges, and risks associated with debt restructuring under the G20 Common Framework.

“They will also seek to strengthen collaborative partnerships by engaging with other participants, policymakers, and international organisations that can drive tangible progress in debt restructuring and sustainability,” according to the programme.

Among the discussants would be Peter Mumba from Zambia’s Civil Society Organisation Debt Alliance.

As Africa stands at a crossroads, facing the intertwined challenges of debt, economic development, and global governance, AfCoDD III serves as a beacon of hope and collaboration.

AFRODAD and its partners have invited all stakeholders, policymakers, researchers, activists, and concerned citizens to join in this critical conversation and work towards shaping a brighter future for Africa.

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Research led by the University of Sydney, Australia, has uncovered an important driver of critical SARS-CoV-2 infections. In their paper, “A unique cytotoxic CD4+ T cell-signature defines critical COVID-19,” published in Clinical & Translational Immunology, the team finds that highly activated and cytotoxic CD4+ T-cell responses may contribute to cell-mediated host tissue damage and the progression of COVID-19.

By GIDEON NYENDWA 

THE Zambia Revenue Authority (ZRA) has signed a partnership contract with some councils in Lusaka Province to appointing the local authorities as tax collection agent on behalf of the ZRA.

Lusaka, Kafue, Chongwe and Chilanga councils would be in charge of collecting presumption Turnover tax, Rental income tax and Base tax and Presumptive tax on passenger transport.

Speaking during the signing ceremony, ZRA Commissioner General, Dingani Banda the partnership between ZRA and the local authorities was motivated by statutory instrument number 48 of 2018 issued by the Minister of Finance and National Planning, which empowers the commissioner general to appoint strategic institutions as agents in the enforcement of taxes on a commission basis, based on the advantage that such institutions enjoy over certain segments of taxpayers.

”You may wish to know that excluding customs borders, ZRA only has physical presence in 13 out of 116 districts in zambia, while the local councils are present in every district and they manage most of the areas where the informal sector players operate from,” Mr Banda said.

And Ministry of Local government and Rural Development Permanent Secretary in Charge for Administration Maambo Haamaundu says this partnership will help enhance tax compliance in the collection of tax collection in local councils.

Mr. Haamaundu has encouraged the local council’s to ensure that they embrace the partnership between ZRA and the Local Council’.

He said urged ZRA to quickly consider including other local authorities across the country adding the local authorities have the capacity to take up the assignment of tax collections on behalf of ZRA.

Mr Hamaundu added that government would support the decentralization of the partnership between local council’s and the Zambia Revenue Authority to improve tax compliance levels in all council’s across the country.

This was according to a speech that read on his behalf by Ministry Director Planning and information Dr. Ngoza Munthali.

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Melbourne researchers have designed a single drug that delivers a lethal “one-two” punch to several types of blood cancer in preclinical studies and could lead to improved treatments.

A research team led by Professor Judy Yam Wai-ping from the Department of Pathology, School of Clinical Medicine, LKS Faculty of Medicine, the University of Hong Kong (HKUMed) has made a significant breakthrough in unveiling an unrecognized signaling pathway mediated by circulating small extracellular vesicles (sEVs) derived from liver cancer patients that promotes liver cancer metastasis. This discovery presents a potential therapeutic strategy for treating liver cancer. The findings have been published in Advanced Science.

A new study has provided insights into an important biological mechanism that supports survival of aggressive, hard-to-treat cancers, and in the process, has uncovered fascinating new information about how cells divide and grow.

The Global Fund announced Wednesday a deal with generic pharmaceutical manufacturers to significantly slash the price of a cutting-edge HIV drug, in a move it said would save lives.