“STOP alarming the Nation over imaginary violation of human rights,” United Party for National Development acting chairperson for Mines Albert Malama has said. Mr Malama says it is extremely shocking how opposition members are crying the loudest over what they deem as violation of human rights, when they are free. He has said that it […]
A COUPLE has been taken into custody on suspicion of foul play after attempting to secure a Brought In Dead (BID) certificate for their 14-year-old maid at the University Teaching Hospitals Police Post. The unsettling situation came to light when the couple arrived at the hospital police post with the lifeless body of their maid, […]
By BUUMBA CHIMBULU
A US$400 million loan agreement to support the financing of Small and Medium-Sized Enterprises (SMEs) across Africa has been signed between the China Development Bank (CDB) the African Export-Import Bank (Afreximbank).
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The agreement provides for Afreximbank to deploy the facility to support African SMEs involved in extra- and intra-African trade and those engaged in the productive sectors in the bank member states such as Zambia.
According to the agreement, the facility, which has a seven-year tenor, will be deployed either directly to eligible African SMEs that meet Afreximbank’s requirements or indirectly through local financial intermediaries.
Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank said during the signing ceremony on Tuesday in Egypt that African SMEs continued to struggle to access adequate and affordable financing for growing their businesses.
Professor Orama said the CDB facility would, therefore, help increase the level of financing available to them.
He said since Afreximbank was receiving the facility as medium to long-term funding at relatively affordable pricing, the bank would transfer the financial advantage in pricing and tenor to the end beneficiaries.
“This facility further strengthens the strategic partnership we have developed with the China Development Bank over the last six years, which has seen CDB make three previous interventions in support of our work at Afreximbank.
“It will also enable our two institutions achieve our respective mandates and developmental outcomes, which include job creation, increased economic activity and increased extra-African trade with China,” Prof Oramah said.
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By LUCY PHIRI
LUSAKA Chief resident magistrate Davies Chibwili has discharged Dr Francis Bwalya against all his charges in the matter he is jointly charged with former Health Permanent Secretary Dr Kennedy Malama and seven others.
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The matter is in relation to the procurement, supply and delivery of 50 ambulances.
When the matter came up for plea after it was reallocated to magistrate Chibwili, the state informed the court that they had an application to discharge the third accused person.
Bwalya, 55, has been missing court sessions on grounds that he has been unwell.
Previously, Bwalya’s lawyer, Mr. James Mataliro informed magistrate Chibwili that his client was not before court due to an illness.
The state further submitted that they wish to withdraw charges against Bwalya who is accused number in the matter.
In this matter, Bwalya is jointly charged with Dr Malama and former Ministry of Health Permanent Secretary for Administration Kakulubelwa Mulalelo and seven others.
The accused persons are jointly charged with willful failure to comply with applicable law and procedure contrary to Section 34 (2) (b) of the Anti-Corruption Act number 3 of 2012.
Other accused persons includes: Dr. Gardener Syakantu, Dr. Muzaza Nthele, 48, of house number 2801 Meanwood Ndeke, Rebecca Ndhlovu, 60, a retiree and farmer of Zambia Airways area, Dr. Maximillian Bweupe, 51, Wilson Lungu, 37, a chief procurement officer under the Ministry of Mines and Dr. Jabbin Mulwanda.
In his ruling, magistrate Chibwili ruled that since there was no objection from the defense, he discharged Bwalya.
Magistrate Chibwili then read all the four charges and all the eight accused persons denied the charges against them.
The court has adjourned the matter to October 2, 2023 for possible trial awaiting ruling on preliminary issue raised by defense that the accused person cannot proceed with the matter without consent from the DPP which the state have not presented before court.
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BuBUSINESSMAN Shaderick Kasanda and four other suspects in the gold scam case have been committed to the High Court for trial. Earlier, the State had set at liberty six out of the 11 suspects in the gold scam case which has been taking twists and turns after entering a nolle prosequi. Those released include all the […]
By VITA BANDA
THE Zambia statistics Agency (ZAMSTATS), has announced that the Annual inflation for August 2023 increased to 10.8 percent from 10.3 percent recorded in July, 2023.
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ZAMSTATS Statistician General Mulenga Musepa, attributed the development to price movements of selected food and non-food items.
He says, the annual food inflation for August 2023 was recorded at 12.6 percent compared to 12.1 percent in September 2023.
Mr Musepa further says, annual non-food inflation for August 2023 was recorded at 8.5 percent compared to 7.8 percent in September.
He attributed the outturn to an increase in prices of non-food items such as spare parts and accessories.
“The consumer price index (CPI) for the food and non-alcoholic beverages increased by 12.6 percent between August 2022 and August 2023. This was higher than 11.3 percent recorded in the same month of 2022 and 12.1 percent recorded in July 2023. The index for clothing and footwear increased by 8.2 percent between August 2022 and August 2023. This was lower than 9.1 percent recorded in August 2022 but higher than 7.9 percent recorded in July 2023.
The CPI for the housing, water, electricity, gas and other fuels group increased by 8.2 percent between August 2022 and August 2023. This was higher than the 5.4 percent recorded in the same month of 2022 and the 7.8 percent recorded in July 2023. “The CPI for the Furnishing, Household Equipment and Household Maintenance increased by 6.1 percent between August 2022 and August 2023. This was higher than 6.0 percent recorded in August 2022 and 5.9 percent recorded in July 2023,” he says.
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Simple strategies to strengthen your bones, implemented by the whole community not just those at higher risk, could lead to a substantial decrease in hip fractures, a new Australian study suggests.
Neuroscience researchers at Wayne State University published a review article that confirms the usefulness of neurofilament light (NfL) blood levels to predict the likelihood and rate of progression of neurodegeneration in Alzheimer’s disease. The review article, “The Potential of Blood Neurofilament Light as a Marker of Neurodegeneration in Alzheimer’s disease,” is published in the journal Brain.
People from socioeconomically-distressed communities who underwent heart transplantation between 2004 and 2018 faced a 10% greater relative risk of experiencing graft failure and dying within five years compared to people from non-distressed communities.
By SANFROSSA MBERI
AS we progress on our growth agenda, we are focused on ensuring that we close off all historic issues with other firms, Copperbelt Energy Corporation (CEC) Chief Executive Officer Owen Silavwe has said.
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Mr Silavwe said, in this regard CEC and Konkola Copper Mines (KCM) agreed a solution to address the long outstanding KCM payment default.
He said a partial reversal of the previously impaired amount of USD171.6 million was therefore made to the books of accounts.
He said an impairment of USD 35.4 million was taken on the investment in the Kabompo Hydropower Project.
” Most importantly, a one off payment was made as part of the settlement relating to the two year period CEC and ZESCO operated without an agreement.
“|This exceptional payment resulted in a drop in cash generation from operations, which when adjusted for was comparable to the prior year,” he said.
Mr Silavwe further said that these solutions significantly de-risk the business and restored its balance sheet.
He explained that the firm continued to make significant progress in the integration of clean energy in its generation portfolio, while diligently pursuing other key strategic infrastructure investments.
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