Women in construction demand 30% construction works

By NATION REPORTER

THE Zambia Women in Construction have expressed concern that there is little or no action to implement the policy that 30 percent of works in the construction sector should be allocated to women.

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Association chairperson Dorothy Mulwila says it is saddening that despite President Hakainde Hichilema’s pronouncement on the matter to ensure that 30 percent of work is allocated to women, authorities have failed move so that the presidential directive could be actualized.

Ms. Mulwila said the failure by authority to implement the policies was discouraging women to fully participation in a male dominated sector.

She said women had the capacity to positively contribute to the growth of the construction industry if well supported by non-discriminative policies.

She has since appealed to government to put in place measures that would enable participation and allocation of incentives to women in the sector.

Ms. Mulwila said government should also engage women in the sector regularly in order to find out the challenges that women face in accessing the contracts.

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When sleep disorders presage something more serious

Early one morning, while checking on a slumbering patient at the Center for Sleep Medicine, Erik St. Louis, M.D., noticed something peculiar. The patient, a woman in her early 60’s, had started running beneath her bedsheets. As her eyelids fluttered, her legs kicked into gear, slowly at first but then rapidly picking up the pace, propelling herself along a road only she could see. After sprinting for about 30 seconds, she abruptly stopped and opened her eyes. It wasn’t the way Dr. St. Louis had expected someone with sleep apnea to behave.

K193.2m five-year bond to support Zambia’s domestic capital markets issued 

By BUUMBA CHIMBULU

A K193.2 million five-year bond to support the development of the country’s domestic capital markets has been issued by the International Finance Corporation (IFC).

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The amortising “Zambezi” bond which is equivalent to approximately US$10 million is also meant to increase access to local currency finance.

This is IFC’s second Kwacha-denominated bond after it placed the first bond issued by a non-resident issuer in Zambia’s domestic capital markets in 2013.

The issuance is the corporation’s first floating rate note in Zambian Kwacha and forms part of IFC’s registered Medium Term Note programme in Zambia as well as IFC’s Pan-African Domestic Medium-Term Note Programme.

IFC Vice President and Treasurer, Treasury & Mobilisation John Gandolfo, in his comment on the development said the institution was happy to be back in the Zambian market.

“Deep and liquid domestic capital markets are essential to expanding access to much-needed local currency finance for key sectors in the economy.

 “Scaling up local currency financing is a key priority for IFC and we’re delighted to be back in the Zambian market,” Mr Gandolfo said.

Absa Bank Zambia was the lead arranger and First National Bank Limited the co-arranger for this issuance.

Jason Quinn, Absa Group Chief Financial Officer on his comment said the bank took pride in its commitment to continue to play a role in promoting and developing access to capital markets for our clients in Zambia and across the African continent.

 “The successful bond issuance is a testament to the credit quality of the issuing entity, IFC. This transaction also demonstrates the critical role that the private sector plays in helping the country’s capital markets and driving economic growth,” Mr Quinn said.

IFC’s work in Zambia is focused on promoting sustainable private sector development by improving the investment climate, supporting small businesses and proactively engaging in the development of key sectors such as infrastructure, agribusiness and financial services.

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