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President Banda Addresses Parliament

On 18th September 2009, His Excellency Mr. Rupiah B. Banda, President of the Republic of Zambia opened the the fourth session of the 10th National Assembly. Click here to read the speech.

Business news, July-September 2009

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Chimfule Lodge for Sale

Information on the National Constitution Conference Process

The Secretariat of the National Constitution Conference has continually reiterated its intention to ensure that information pertaining to the activities of the NCC deliberations is available to the public. Presently the debates are broadcast on the national radio and television stations. The NCC is soon expected to wind up its work and its draft constitution will be released for public scrutiny for the next sixty (60) days.

In order to ensure wider public access the Secretariat has opened a website www.ncczambia.org. Zambians abroad are encouraged to utilize this website which is accessible to them.

PRESIDENTIAL ELECTIONS TO BE HELD ON 30^TH OCTOBER, 2008

ZAMBIA will hold the presidential by-election on Thursday, October 30, 2008 following the death of the President, the Late Dr. Levy P. Mwanawasa, SC. on 19^th August, 2008. The announcement was made by the Acting President, His Honour Mr. Rupiah Banda, MP

Addressing the nation on Zambia National Broadcasting Corporation (ZNBC) radio and television on 9^th September, 2008 Mr. Banda said the Republican Constitution under Article 38 section (1) of the Electoral Act of 2006 demanded the holding of elections within 90 days of the death of a sitting president.

In making the announcement the Acting President underlined the importance of adhering to the Constitution of the Republic of Zambia. He said that upon the death of the President, Government immediately began preparations to meet this constitutional requirement and, that the Electoral Commission of Zambia has already commenced preparations to hold the elections.

Hon. Banda appealed to all Zambians to remain calm, peaceful and united during the pre-election period and to conduct campaigns in a clean and dignified manner based on issues

He thanked Zambians for according President Mwanawasa a funeral befitting his status, adding that he was proud that Zambians demonstrated unity of purpose to the world and paid special tribute to the defense and security wings for their perfect execution of the mourning programme.

The Acting President saluted the Government of Egypt for its support during the late President's illness, the French Government for its assistance during the illness and death of Dr Mwanawasa, and the Chinese for preparing the burial site.

He paid tribute to Dr Mwanawasa's family for the cooperation and understanding both during the late President's illness and his subsequent death and state funeral.

He also thanked religious leaders in the country for directing their faith to pray for Dr Mwanawasa and for the country during the period of illness and mourning.

Ndola Lime to launch $30m kiln

NDOLA Lime Company has said the installation of a vertical kiln worth US $ 30 million that will be producing 500 metric tonnes of limestone per day is on course and will be launched next year.

Head of production Joseph Chishimba said the new kiln would be energy efficient and environmental friendly. Chishimba said some of the kiln’s features would include dust abatement equipment and blending can crushing plants.He said the increase in mining activities was having a positive impact on all sectors of the economy.

Chishimba said the company was earmarked for privatization but government abandoned the idea following the expansion of mining activities that included opening up of new mines. The current markets for Ndola Lime include Zambia Sugar, all mining companies, Burundi, Malawi, Tanzania DR Congo and Zimbabwe, and plans are underway to penetrate markets in Angola, Mozambique, Mauritius, among other export markets. Ndola Lime is 100 per cent owned by ZCCM Investment Holdings and last year the board approved a US $74 million recapitalization programme that would take two years to complete. It is expected that the installation of the new equipment would help the company address the supply side constraints and enable it to adequately supply the export market.

Zambia National Commercial Bank (Zanaco) Records 40% Revenue Growth

According to the Managing Director (MD), Mr. Mark Wiessing, Zanaco recorded a 40% growth in revenue in the first six months of the current year. The MD attributed the remarkable improvement in its revenue base to the transformations that the bank underwent since Rabo Bank management took over. The bank is growing very fast. Rabo Bank, a Dutch Bank, now owns 49% shares in the bank. He made the announcement on 21^st July 2008 during the launch of the new corporate brand.Zanaco is scheduled to launch Zambia´s first mobile banking product during this year´s Zambia Agricultural and Commercial Show. This service will be more than the current e-tracer facility that enables clients to check their account balances using short message service (SMS). Mobile banking will allow clients to conduct transactions like account opening, payment of bills, purchase of airtime and making third party transactions through the mobile phone.

The MD also said that Zanaco has achieved a lot since the privatization including the launch of its Visa Electron debit card and increase ATMs from 35 to 58 in Zambia and was expecting to add 42 more by the end of the year. The bank has introduced other products such as the Munda Scheme aimed at supporting peasant and small-scale farmers, and it initiated a programme with the International Finance Cooperation (IFC) on the provision of agricultural finance to emerging indigenous farmers in line with the objectives of the Citizens Economic Empowerment Act. According to the MD, the bank disbursed over 16, 000 new loans to individuals in Zambia through its variety of credit schemes during this period.

The bank is committed to opening rural branches. The bank recently announced that it had successfully concluded negotiations with development finance institution, FMO of the Netherlands, for a total of US$ 35 million credit facility for on-ward lending to its various customers. The funds, which include a $ 25 million senior debt facility and $ 10 million subordinated debt facility, would be channeled to credit finance in different productive sectors of the economy.

Embassy of the Republic of Zambia

News

President Banda Addresses Parliament

Ndola Lime to launch $30m kiln

Zambia National Commercial Bank (Zanaco) Records 40% Revenue Growth