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The Global Finance has for the last three consecutive years awarded the Zambia National Commercial Bank (Zanaco) Plc as the best bank in Zambia.

Zanaco is among the winners chosen from more than 150 countries and territories across Africa, and other continents.

The award recognises the bank’s growth in assets, profitability, geographic reach, strategic relationships, business development and innovation.

And Zanaco Chief Executive Officer Mukwandi Chibesakunda attributed the award to the bank’s continued focus on delivering to its strategy, participation in key growth sectors and positioning as a partner for growth in Zambia.

Ms. Chibesakunda pointed out that the bank has also continued to realise value through innovation and harnessing identified growth opportunities in the market by constantly repositioning the business in line with its mandate.

“We believe that the bank is well positioned to deliver on our ambition to be the top transaction customer-centric bank by the year 2025” said Ms ChibesaKunda.

She also pledged continued support towards contributing positively to the country’s economic growth in different sectors.

Ms Chibesakunda cited the signing of the US$50 million financing facility with the British International Investments for lending to Small and Medium Enterprise and women led businesses as one of the positive strides that the bank has scored. – ZANIS

 “Zanaco is a home-grown bank that believes in supporting key sectors of the economy in order to grow Zambia, our home. We continue to support key sectors of the economy such as agriculture, energy and mining. Over the last year, the bank signed a financing facility with the British International Investments (BII) worth US$50million for lending to SMEs, particularly women-led SMEs and those driving the growth of the green economy. All these initiatives have positioned us as the best bank in Zambia,” said Ms ChibesaKunda.

Meanwhile, Global Finance Publisher and Editorial Director, Joseph Giarraputo, explained that “the best bank awards” recognises the financial institutions that offer the broadest range of services as well as the reliability required for long-term financial relationships.

This is according to a media statement made available to ZANIS in Lusaka by Zanaco Head Client Solutions, Marketing and Corporate Communications Chanda Katongo. – ZANIS

THE Anti-Corruption Commission (ACC) says it has seized and restricted properties whose cases are either in court or under investigation valued at over K477 million.

ACC head of corporate communication, Timothy Moono has disclosed that the Commission received a total of 113 reports of suspected corruption in the first quarter of 2023.

Mr Moono said of the cases, 110 reports contained elements of corruption and were authorized for investigations, while three were pending further action adding that 28 arrests were also affected during the quarter.

He said at the close of the quarter, the Commission had 1,341 cases under investigations adding that at the end of the quarter 43 Criminal cases and 15 Civil cases were before the courts of law.

Mr Moono said this in the first quarter media briefing of the ACC.

He also said the commission has restricted over 100 bank accounts for the Ministry of Finance officials with a total sum of K31.8 million.

“We believe that transparency and accountability are critical elements in the fight against corruption, and the Commission is committed to keeping the public informed about our activities and progress” 

“We also encourage members of the public to come forward with any information or evidence they may have regarding corrupt practices, as this will help us in our efforts to root out corruption and hold those responsible accountable for their actions,” he said.

Mr Moono said restrictions have also been affected on Treasury Bills and Bonds held by 18 Officials from the Ministry of Finance and Auditor General’s Office held at the Bank of Zambia.

Meanwhile, Mr Moono said the announcement made recently by the United States of America Vice- President Ms Kamala Harris that her country would provide financial support amounting to US$16million toward the fight against corruption and allied programmes would go a long way.

 Ms Kamala Harris made this announcement during her maiden state visit to Zambia.

Chronic conditions such as type 2 diabetes, asthma, HIV infection, and mental illness may be greatly undertreated in the U.S. jail and prison population, suggests a new study from researchers at the Johns Hopkins Bloomberg School of Public Health.

When it comes to height, our fate is sealed along with our growth plates—cartilage near the ends of bones that hardens as a child develops. Research published April 14 in the journal Cell Genomics shows that cells in these plates determine the length and shape of our bones and can hint at our stature. The study identified potential “height genes” and found that genetic changes affecting cartilage cell maturation may strongly influence adult height.

 PRESIDENT Hakainde Hichilema has fired Inspector General of Police Lemmy Kajoba and has since replaced him with Graphel Musamba. President Hichilema has further relieved Deputy Inspector General of Police Doris Nayame Chibombe of her duties and has since appointed Alita Mbahwe, who is former Commissioner at Drug Enforcement Commission (DEC) as Deputy Inspector of Police  […]

Gastric cancer is one of the most common cancers worldwide. A new invention by researchers from the National University of Singapore (NUS) could help improve the treatment of this cancer by enhancing the precision of radiotherapy, which is commonly used in combination with treatment options such as surgery, chemotherapy or immunotherapy.

GOVERNMENT’S decision to import mealie meal defies logic because it has failed to give valid reasons.

This is the more reason why some key stakeholders have expressed concern.

The Millers Association of Zambia (MAZ) is baffled and disappointed.  So is Chief Chooma of Choma who has questioned the logic of importing maize when the country has enough stock.

It clearly shows that decisions are being made without consulting key players like millers who produce mealie meal.

At the base of the confusion is the government’s failure to explain the country’s real position regarding the availability of maize.

It has failed to explain why certain regions have a crippling shortage of mealie meal as well as the astronomical high price of the staple food.

Government wants to blame the shortage on smugglers it says are taking maize and mealie meal to the neighbouring Congo DR.

In one breath, the nation is told that the country has enough maize in the national reserves with the Food Reserve Agency.

In the next breath, the government invites the private sector to start importing mealie meal and removes all import taxes.

This is quickly followed by a “clarification” that the mealie meal being imported is meant for exports to the Congo DR.

The nation is also schooled on the difference between banning/halting the export of mealie meal.

We feel the Millers Association has made a valid observation, warning that the government’s decision to allow for the importation of mealie meal will have a negative effect on local milling companies.

MAZ president Andrew Chintala has expressed disappointment with the government’s decision to issue a Statutory Instrument to remove duty on importation of mealie meal and maize in the country.

Appearing on Millennium TV’s The Business Day programme, Mr Chintala said they do not support the importation of mealie meal in the local market it will have a negative impact on locally produced products.

He said, it is unfortunate that the government could allow importation of mealie meal when it knows that this move will suffocate the local production.   “We do not support the importation of the commodity on the local market.” 

“Why should government go to the extent of issuing an SI on the importation of mealie meal on the local market? The commodity is being produced locally and the government should have found ways of supporting local producers to enhance production to meet the country’s demand,” Mr Chintala said.

Just how did the government arrive at this decision, knowing that importing mealie meal will have have serious implications on the local milling companies?

Chief Chooma has questioned the logic of importing maize when the country has enough stock.

As Chief Chooma observed, the country had enough maize stock from last year’s harvest and has expressed his surprise on the government’s decision to import.

According to Chief Chooma, Congo DR is the country which is supposed to import from South Africa as it has shortages of the commodity – not Zambia.

Government should come out clean on this botched policy decision which raises more questions than answers.

If anything, what hidden interests are at play in this whole scenario?

By BUUMBA CHIMBULU

The increase in the lending period and maximum loan amount by Standard Chartered Bank Zambia will help citizens borrow and invest in short to long term activities.

This is according to the Zambia Union of Financial Institutions and Allied Workers (ZUFIAW) Secretary General Kasapo Kabende.

And Standard Chartered Bank Zambia has awarded its staff a 17 percent salary increment across the board for 2023.

On the increase in the lending period and maximum loan amount, Mr Kabende commended the bank and was confident that the move would help citizens borrow and invest in short to long term activities.

The Bank Zambia recently increased the lending period to 72 months from 60 months while the maximum loan amount was raised to K600, 000 from K450, 000.

Mr Kabende also commended the bank on the progress made in making it a digital bank as a way of responding to the needs of clients and the changing banking environment both local and global.

At the same event, Standard Chartered Bank Zambia Chief Executive Officer Sonny Zulu, said the bank was committed to ensure that the wellbeing of staff was taken care of.

Mr Zulu said the bank would continue to create a conducive working environment for staff as they were key to the strong results it has been posting.

Certain immune cells possess a homing property that directs them to the skin at birth to protect the baby, researchers from The University of Texas Health Science Center at San Antonio (UT Health San Antonio) discovered.

A preclinical study using stem cells to produce progenitor photoreceptor cells—light-detecting cells found in the eye—and then transplanting these into experimental models of damaged retinas has resulted in significant vision recovery. This finding, by scientists at Duke-NUS Medical School, the Singapore Eye Research Institute and the Karolinska Institute in Sweden, marks a first step toward potentially restoring vision in eye diseases characterized by photoreceptor loss. The research is published in the journal Molecular Therapy.