Anthony Shafu

24/02/2024

NCWALA CEREMONY 2024

THIS LIVE BROADCAST IS BROUGHT TO YOU BY VEDANTA RESOURCES LIMITED IN PARTNERSHIP WITH MILLENNIUM TELEVISION LIMITED.

HE. Hakainde Hichilema PRESIDENT OF THE REPUBLIC OF ZAMBIA OFFICIETES AT THE NC'WALA TRADITIONAL CEREMONY FOR THE NGONI SPEAKING PEOPLE.

THE 2024 NCWALA CEREMONY IS BEING COMMEMORATED UNDER THE THEME "CULTURE PRIDE IN PROMOTING RECONCILIATION FOR NATIONAL UNITY"

02/01/2024

Chile One MrZambia am happy to see you on Trace.

18/10/2023

Macky 2
King Bugar
Challenge
Accepted
Here
😁

30/09/2023

General Ozzy Thank you 🙏🏽 Legend! We had fun

02/09/2023

[LIVE] WELLS OF SALVATION ASSEMBLIES IN ZAMBIA

29/07/2023

HAPPY BIRTHDAY 🥳 🎂 TO Millennium TV Zambia FINANCIAL REPORTER Vita Banda , I CELEBRATE YOU

03/07/2023

Link up with James JR am a big fun of your craft

07/03/2023

Roberto Zambia & Jae Voiceyodula Cash to the world!

28/02/2023

F JAY to the world

BALOTELLI x Slapdee

19/02/2023

Just so proud of Roberto Zambia respect fi you superstar! Zed to the world.

18/01/2023

Chef 187 X Blake Zambia

Stephen Junior NOBODY REACTION….!

Blake Zambia Tune Man is international…! 🔥 🔥

Don’t Own Copyright to the song 🎶

https://youtu.be/LBj4DGUrFTM

11/06/2022

Secrecy surrounding the ZESCO - CEC deal is a big scandal in the making

Editorial
When the new dawn UPND government took over the running of the affairs of Zambia, post the August 2021 polls, there was so much anticipation and goodwill that they would implement some of their many promises and pronouncements, that they would be different from their rivals - PF.

One of those pronouncement was that they would run a more transparent government. The new dawn government announced the appointment of Vickson N’cube as chairman of the ZESCO board. Most professionals and especially accountants who knew N’cube welcomed the appointment and were expectant of having a more transparent ZESCO that would save the interests of all its key stakeholders.

But what we are now experiencing is a different flavor. The promise of transparency at ZESCO is slowly dying off. The promise of bringing in meritocracy and supporting local businesses is almost dead. It’s now more akin to just replacement of PF cadres with UPND carders or to use the latest lingua; replacement of PF cadres to UPND praise singers.

The new ZESCO management has been engaged by our analysts and journalist to make key details public concerning the CEC Bulk Supply Agreement - BSA such as what level of tariffs and if they are cost reflective, have clauses for price increases been included etc, to answer to concerns that had been raised when ZESCO had declined to renew this deal when it expired.

Moreover, ZESCO had stated that they would make more profits if they supplied the power directly to the mines. But we are aware that CEC has Zambian businessmen as shareholders and we need to support locals involved in business. So the best to do is make sure the deal is win - win.

So, the minimum we expected was that this deal would be well negotiated as well to be able to stand up to public scrutiny and acceptance. But the level of secrecy around it makes one wonder the contents. Our sources within ZESCO has confirmed that this deal is almost a state secrets even among senior ZESCO management staff.

We are also taken aback that Vickson Ncube - a internationally reputable corporate governance expert and practitioner who is at the helm of the power utility has agreed to be part of this scandal in the making. He should actually be in the forefront as chairman of the ZESCO board of directors in directing his management team led by Victor Mapani to do the right thing, make the BSA public and allay historical fears.

ZESCO is a state owned company, it’s a company set up and supported using public funds. The fact that Victor Mapani is Managing Director today does not make ZESCO his personal or private company were he can decide to classify or hold the BSA with CEC secret.

We are also cognizant of the default excuse that ZESCO’s commercial contracts are subject to confidentiality clauses, but this deal with CEC is not like any other deal, simply because its public knowledge that CEC shareholders are also now holding senior government positions.

For instance, it’s public knowledge that Infrastructure minister Charles Milupi and other senior UPND big wigs are know to have shareholding interest in CEC. Unless they have disposed off their interests, this raises prima facie case or likelihood of conflicts of interests.

We also know that when people ascend into senior political and government positions, because of the high levels of poverty in the country, very few members of the public or indeed official advisors to say the chairman and Managing Director of ZESCO or indeed senior government ministers dare to say the truth for fear of losing their jobs or positions.

For us as a business media house, we can tell you that making the ZESCO - CEC bulk supply agreement secret is a scandal in the making. Historical information on how CEC got a 25 years deal that had no clauses for cost reflective tariffs was made public and this can not be wished away.

The CEC deal was cited by ZESCO through official communication of being behind the persistent financial difficulties the utility encountered. The bulk supply agreement tariff were said to have been below the cost of power generation and supply to CEC.

Let’s not be naive here, CEC supplies power generated by ZESCO to the Copperbelt, which is Zambia’s established mining and industrial capital. So the amount and quantity of power this agreement governs is not a joke. We are talking about powering Mopani Copper Mines, Konkola Copper Mines. Just these two mines, we have the fate of four cities and towns such as Kitwe, Mufulira, Chingola and Chililabombwe.

So, in as much as new ZESCO board and Management appointed by the new dawn government may try to rubbish demands that this BSA with CEC be made public, the secrecy in which they are holding this agreement merely raises suspicion that they have something to hide. Moreover, this is a deal that had revelations of having been suboptimal to ZESCO’s long term financial and operational interests.

It is said that it takes a fool to make the same mistake twice, this ZESCO - CEC deal has been cited as a major contributor to the power utility subsiding the mines as well as awarding hefty profits to the middleman company - in this case CEC.

In the interest of tax payers who fund the treasury, which in turn funds ZESCO and guarantees its loans for expansion. In the interest of making ZESCO more viable so that it can connect more households and local businesses, so that Zambia can attain the desired level of having all districts and the majority of its people connected to the grid, let ZESCO make this deal public.

Our country and its people need to be assured that this issue of cost reflective tariffs is also applicable to this CEC deal. The secrecy surrounding this deal are simply confirming fears that the tariffs in this deal may even be lower that what vulnerable people in our high density areas or compounds are paying.

ZESCO has recently proposed over 500% increase in connection fees, under the guise of implementing cost reflective tariffs. What the public needs to know is that move to cost reflective tariffs is also extended more especially to the bulk power buyers who consume the bigger share of the total power generated.

Zambia has been blessed with huge water resources for renewal hydro power generation, huge copper reserves for cables manufacturing. ZAFFICO has enough land and plantations to supply poles and a ready export market to neighboring countries and the region. There is simply no excuse for failure to deliver low cost electricity to the citizenry.

This endowment should ideally lead to the country enjoying relatively lower tariffs like we see in oil producing countries for fuel pump prices. Its the successive and current leaders of this country, the board and management of ZESCO that have the responsibility to deliver the benefits of this God given endowments to the majority of our people and their businesses.

From the levels of public awareness we are experiencing today, we will not be far off when we project that the ZESCO senior staff that are being used by politicians in these secret deals will one day in future go to jail.

26/05/2022

The Western Chamber of Commerce and Industry is excited at the announcement of the construction of the gas and oil pipeline from Windhoek into Zambia.

The Western Chamber of Commerce Vice-Secretary Samuel Litebele says the impending memorandum of understanding between Zambia and Namibia is long overdue and is a welcome development.

Mr. Litebele is however, of the view that the refinery plant should be based in Western Province and not Lusaka where it is earmarked.

He says the Chamber has observed the decision with sorrow pointing out that Lusaka has a already a good number of industries unlike the western part of the country.

Mr Litebele says western province has continuously been at the bottom of the pyramid compared to other provinces due to lack of Government initiatives being implemented locally.

He says government should take responsibility by ensuring equitable development of the country across all regions and most especially starting with the poorest.

He adds that this is an opportunity to create demand in a province which has the biggest land mass and potential to have the biggest market in Southern Africa.

Ends

26/05/2022

Kindly contact us anytime whenever you are in need of the listed services. See poster for more details.

23/05/2022

Govt advised to stop grabbing mines from locals and handing them over to foreigners

The Emeralds and Semi-Precious Stones Mining Association of Zambian-ESMAZ has advised government to empower local people with the necessary knowledge on mining as opposed to grabbing mines from them on grounds that they have failed to develop.

ESMAZ President Victor Kalesha said the narrative of grabbing mining licenses from local people on the pretext that they are failing to develop and giving them to foreign companies needs correction as it is negatively affecting local people.
Speaking in an interview with the Zambian Business Times-ZBT, Kalesha said formalizing the mining operations of local people is the only way Zambia will.....follow link to read the full article
https://zambianbusinesstimes.com/govt-urged-to-empower-local-miners/

18/05/2022

Green Economy Minister Collins Nzovu has threatened to shut down Kitwe’s black mountain on environmental concerns being raised which are not being resolved. Nzovu said his ministry is monitoring all operations at each mining company, including the black mountain in Kitwe on the Copperbelt to ensur...

11/05/2022

Congratulations to the newly elected EIZ council!

10/05/2022

Unions give in - starts considering Vedanta's offer

The National Union of Miners and Allied Workers-NUMAW says it is currently engaging its members concerning Vedanta Resources Limited’s offer to come back and run Konkola Copper Mines (KCM).

NUMAW President James Chansa said the union has taken note of what Vedanta Resources has promised and is hoping that government and the Indian mining firm can effectively address the KCM matter.

Speaking in an interview with the Zambian Business Times-ZBT, Chansa said government should critically.....follow link to read the full article
https://zambianbusinesstimes.com/stakeholders-considering-vedantas-offer/

10/05/2022

The Mine Workers Union of Zambia (MUZ) has welcomed First Quantum Minerals’ approval of $1.25 billion mine expansion in Zambia. Speaking in an exclusive interview with the Zambian Business Times – ZBT, MUZ General Secretary George Mumba said the action gives MUZ excitement and hope that first qu...

06/05/2022

Minister of Finance and National Planning Dr. Situmbeko Musokotwane says government has no alternative plan to resuscitate the economy and get the country out of debt besides obtaining the US$1.4 billion bailout package from the International Monetary Fund (IMF). Speaking during a media briefing at....

05/05/2022

Minister of Infrastructure, Housing and Urban Development Charles Milupi says the newly constructed Kenneth Kaunda International Conference Centre in Lusaka is 99.9% complete. Speaking when he inspected the ultra-modern conference centre, Milupi said the Kenneth Kaunda International Conference Centr...

03/05/2022

19/04/2022

Emeralds and Semi-Precious Stones Mining Association of Zambia-ESMAZ has disclosed that the mining sector is expected to attract low investment this year due to the high cost of fuel. Association President Victor Kalesha said the increase in fuel prices would reduce the number of investors willing t...

14/04/2022

A source at the Ministry of Mines has disclosed to the Zambian Business Times – ZBT that the elevated levels of Uranium which was extracted from ore at Lumwana mine could begin to be processed once the international price of the commodity improves. Commenting in an exclusive interview with the Zam...

12/04/2022

05/04/2022

The International Monetary Fund – IMF has re-affirmed that the Zambian government has stayed the course and is broadly aligned with the commitments agreed under the staff level agreement, setting a good base to get the IMF facility. Responding to a question from Zambian Business Times – ZBT, All...

31/03/2022

Lumwana mine has refuted claims by some members of the public, some of whom purport to have worked for the mine that it is mining Uranium, a high value mineral used in nuclear energy generation. According to the information and queries that were sent the Zambian Business Times –ZBT, Lumwana Mine i...

29/03/2022

The Insurance Association of Zambia – IAZ has rolled out a digital insurance certification system that will completely eliminate the need for customers and the Zambian public to queue up or physically travel to access motor vehicle insurance. IAZ President Moses Siame said technology is not only a...