Tag Archives: Zambia

26Apr/23

James Mwape the founder of the “James Mwape Peer Awards” has died

April 26, 2023Human InterestAwards, Chirundu, D.C., James M. Mwape, James Mwape, Mwape, Ruth, Simon, United States, Washington, Washington, D.C., Zambia, Zimbabweadmin

April 25, 2023 /Lifestyle/ — Philanthropist James Mwape, the founder of the James Mwape Peer Awards, has died. Zambian-born American and co-founder of the Mwape Peer Awards, James Mwape, has died in Cherry Hill, New Jersey in the United States aged 60.
He died on 22nd April, 2023 at his home in New Jersey.
Mr. Mwape an Educator, Entrepreneur and Author was born in 1962, in Mwense district, in the Luapula Province of the then Northern Rhodesia.
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22Apr/23

ERB approves lower electricity tariffs for low-income households in Zambia

April 22, 2023EconomyArticles, Business economics, Customs duties, Economy, Electricity pricing, International taxation, Pricing, Renewable energy policy, Tariff, Zambiaadmin

April 21, 2023 /Economy/ –The Energy Regulation Board (ERB) in Zambia has approved lower electricity tariffs for low-income households that consume 100 Units or less per month. The new tariffs will take effect on May 1, 2023.

The ERB said the decision to lower tariffs was made in order to cushion low-income households from the rising cost of living. The new tariffs will see a reduction of 25% in the cost of electricity for low-income households.
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21Apr/23

Kamono Farm Initiatives Limited (KFI) a Zambian company is facing allegations of fraud and money laundering.

April 21, 2023LegalConservative talk radio, Crime, Fraud, Kamono Farm Initiatives Limited, KFI, Money laundering, Radio, Radio stations, Zambiaadmin

Kamono Farm Initiatives Limited (KFI) is a Zambian company that was founded in 2012 with the vision of changing the agribusiness landscape by offering farmers a superior service. KFI’s business model is based on contract farming, which allows the company to provide farmers with access to inputs, markets, and technical expertise. This has allowed KFI to help farmers increase their yields and incomes, and to improve the sustainability of their farming practices.

However, in recent years, KFI has been facing allegations of fraud and money laundering. These allegations stem from a number of factors, including:
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18Apr/23

The National Pension Scheme Authority (NAPSA) of Zambia allows partial pension withdrawals

April 18, 2023FinanceEconomy, Finance, Money, Napsa, National Pension System, Pensions, Personal finance, Social law, Zambiaadmin

April 18, 2023 /Finance/ — The law allows NAPSA beneficiaries to withdraw a portion of their pension savings before they reach retirement age. The amount that can be withdrawn is limited to 50% of the accumulated savings, and the withdrawal can be made in installments over a period of up to 10 years.

To qualify for partial pension withdrawal, beneficiaries must meet the following criteria: Continue reading →

18Apr/23

The Financial Intelligence Centre (FIC) of Zambia on trade-based money laundering (TBML)

April 18, 2023EconomyAfrica, Articles, Corruption, Corruption in Russia, Financial regulation, Geography of Africa, Money laundering, Police corruption, Political corruption, Tax evasion, Terrorism, Zambiaadmin

April 18, 2023 /Business/ — The Financial Intelligence Centre (FIC) of Zambia has published a report on trade-based money laundering (TBML) in the country. The report found that TBML is a serious threat to the Zambian economy and that it is being used to finance a variety of criminal activities, including terrorism, corruption, and drug trafficking.

The report identified a number of factors that make Zambia vulnerable to TBML, including: Continue reading →

18Apr/23

Debt dangers in Africa: how defaults hurt people, and why forgiveness isn’t the answer

April 18, 2023EconomyAngola, Austerity, Cabo Verde, Caroline Southey, Creative Commons, Debt, Debt of developing countries, Debt relief, Economy, Egypt, Eritrea, Finance, Fiscal policy, Ghana, Ghanaian Cedi, Government debt, International Monetary Fund, Malawi, Money, Namibia, Philippe Burger, Republic of Congo, Rwanda, Senegal, Sierra Leone, South Africa, Sudan, United Kingdom national debt, United States, Zambia, Zambian Kwacha (Rebased Jan 2013), Zimbabweadmin

Philippe Burger, University of the Free State

Public debt repayments in some African countries are at their highest levels since 1998. The Conversation Africa’s founding editor Caroline Southey talks to dean and economics professor Philippe Burger about the danger of debt problems some African countries face.

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16Apr/23

Zambia’s ANTI-CORRUPTION Commission (ACC) Final Charges Against Faith Musonda

April 16, 2023CrimeCompanies, Economy of Japan, Faith Musonda, Motor vehicles, Musonda, Toyota, Zambiaadmin

April 16, 2023 /Zambia/ — The Zambia Anti-Corruption Commission (ACC) has finalized the consolidation of charges against Faith Musonda, a businesswoman who was arrested in June 2022 for allegedly possessing K117 million in cash without a valid source of income. The ACC has charged Musonda with 15 counts of possessing property reasonably suspected to be proceeds of crime.

The charges against Musonda are as follows: Continue reading →

16Apr/23

Zambia’s Inspector General of Police Graphel Musamba

April 16, 2023CrimeAfrica, Countries, Graphel Musamba, Hakainde Hichilema, Inspector, Law enforcement, Lemmy Kajoba, Musamba, Police officer, Zambiaadmin

Musamba is a welcome addition to the Zambian government. He is a highly qualified and experienced police officer who is committed to public service. He is also a strong advocate for human rights and the rule of law. I am confident that he will be an effective Inspector General of Police and that he will make a positive contribution to the Zambian people. Continue reading →

16Apr/23

Zambia’s digital asset regulation tests framework

April 16, 2023FinanceCryptocurrency, Decentralization, Financial technology, Regulator, Uberisation, Zambiaadmin

April 16, 2023 /Finance Technology/ — Zambia is currently testing a technology that would form the foundation of digital asset regulation. The tests are being conducted by the Bank of Zambia (BoZ) and the country’s securities regulator, the Securities and Exchange Commission (SEC).

The tests are designed to assess the feasibility of regulating digital assets in Zambia. They are also designed to identify any potential risks associated with digital assets and to develop mitigation strategies. Continue reading →

16Apr/23

What is in Zambia’s debt restructuring proposal sent bondholders?

April 16, 2023EconomyBankruptcy, China, Debt, Debt relief, Debt restructuring, Economy, Eurozone, External debt, Finance, Insolvency, International Monetary Fund, Money, Zambiaadmin

April 16, 2023 /Finance/ — If Zambia’s debt restructuring proposal is successful, it will help to improve the country’s economic outlook and create a more stable environment for businesses and investors. This will ultimately benefit the Zambian people by creating jobs, improving infrastructure, and providing access to basic services.

It is important to note that there are a number of risks associated with Zambia’s debt restructuring proposal. If the proposal is not successful, it could lead to a further deterioration in Zambia’s economy and could potentially lead to a default on Zambia’s debt.

Zambia sent a debt restructuring proposal to bondholders on April 14, 2023. The proposal includes the following key points: Continue reading →