BOZ expects banks to provide required level of finance – Kalyalya
By Joan Chirwa
Thu 17 Dec. 2009, 04:00 CAT
BANK of Zambia (BoZ) deputy governor for Operations Denny Kalyalya has said the Central Bank expects commercial banks to provide the required level of finance to consolidate economic gains registered so far.
During the launch of Barclays Bank Zambia Manda Hill branch in Lusaka on Tuesday, Dr Kalyalya said Zambia’s economy had been on the recovery path since the beginning of this year.
“As you may be aware, economies around the world have been negatively affected by the global financial and economic crises. Zambia, like most commodity exporting countries, was mostly affected by the second round effects of the crisis, especially in key sectors such as mining,” Dr Kalyalya said.
“I am, in this connection, happy to note that the overall performance of the financial sector has been satisfactory which should serve as a good basis for the lending we are talking about.”
He further noted that Barclays Bank, despite the setbacks from the financial crisis and its impact on the local economy, had continued to increase the number of distribution points throughout the country.
Dr Kalyaya said it was a well-known fact that branch expansion programmes played an important role in increasing access to the unbanked population in the country.
“However, there is need to complement physical branch expansion with other product innovation programmes that will capture a lot more people in the remote areas of our country,” Dr Kalyalya said.
“The real challenge for us is how to enhance savings mobilisation and effectively channel the public savings to most productive uses. It is for this reason that the Bank of Zambia has continued to encourage banks to offer an expanded range of innovative banking products.”
Dr Kalyalya further encouraged commercial banks and non-bank financial institutions in the country to continue taking a leading role in helping to improve the local financial services sector by providing greater access to banking services and products through a sustained and aggressive growth strategy.
“Needless to say that access to banking services and the contribution of the banking sector to economic development cannot be realised if the cost of accessing banking services continues to be high,” said Dr Kalyalya.
“The industry is characterised by high bank charges and interest rates. I therefore urge financial institutions to look into the issue of revising their pricing structure of banking products in order to increase access to financial services. As Bank of Zambia, we have taken up access to financial services as one of our strategic objectives for the period 2008-2011.”
And Barclays Bank Zambia chairman Jacob Sikazwe said the bank would remain committed to its goal of driving excellence in the financial services industry in Zambia even under the most difficult economic environment arising from the global financial meltdown.
Labels: BANKING, BARCLAYS BANK, BOZ, DENNY KALYALYA, JACOB SIKAZWE
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Barclays launches branch in Mbala
Written by Kabanda Chulu
Thursday, October 15, 2009 6:22:41 PM
BARCLAYS Bank Zambia chairman Jacob Sikazwe has said the institution is determined to provide quality banking and financial services in all parts of the country to ensure that traditionally un-banked sectors of the economy have access to banking services.
During the official opening of the Mbala branch yesterday, Sikazwe said it was unheard of for traditionally un-banked communities to access banking services. He said the enabling economic environment provided by the government had made it possible for Barclays Bank to continue investing in the financial services sector.
“As a result of the favourable economic environment, Barclays Bank has been able to bring banking services to nearly all corners of the country such as Mbala, however remote and with 88 distribution points across Zambia, we are leading in terms of making banking more accessible to the majority of Zambian households and we intend to open more new outlets,” Sikazwe said. “The opening of the Mbala Branch signals our determination to provide quality banking and financial services in all parts of Zambia while ensuring that traditionally un-banked sectors of the economy have access to banking services and I am happy that Northern Province is a strategic region and we are proud that our franchise is well positioned to provide banking services to commercial and retail customers.”
Barclays Bank Mbala becomes the third branch in the Northern region after Kasama and Nakonde branches.
Sikazwe said Barclays Bank was committed to being a strategic partner through offering of products and services that supported various economic activities.
He added that the Bank would continue to look for growth opportunities to empower small and medium scale entrepreneurs.
Sikazwe said Barclays Bank had launched Customer Service Month which would run from October 5 to November 6, 2009 aimed at recognising customers for their loyalty and support.
“This is an exciting time for us because it gives us an opportunity to engage our customers and give back to them in a small but significant way. It is for this reason that you should feel free to discuss with us today in terms of how you think we can continue to serve you better,” said Sikazwe.
“At Barclays we put the customer first and this is one of our key drivers through which we consistently strive to revolutionise the way we deal with and manage customer demands for world class customer service.”
Labels: BANKING, BARCLAYS BANK, JACOB SIKAZWE
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CEEC to iron out bottlenecks
By Business Reporter
THE Citizens Economic Empowerment Commission (CEEC) is working on intervention measures to address bottlenecks that have resulted in reduced applications for money under the empowerment programme. CEEC chairperson Jacob Sikazwe said the commission would work with various stakeholders to address some hurdles that have been identified in accessing the CEEC funds.
He was speaking in Lusaka yesterday at a media briefing. He said many would-be applicants had complained of the complex format of application forms, limited access to the forms in rural areas, and collateral conditions as some factors that had hindered their application for funds. So far, only 432 completed application forms have been received from the 29,139 forms distributed countrywide. Of the completed forms, only 81 have been processed.
“The CEEC has taken note of the issues raised and will put in place interventions to address the issues,” Mr Sikazwe said. He said the commission had embarked on a six-week provincial tour which began on December 22, to address the concerns. The CEEC is working with Zanaco, National Savings and Credit Bank, Finance Bank and Standard Chartered Bank to administer the funds. He noted that some districts did not have bank presence and that had affected the processing of the funds.
“We are also working on other modalities that include identifying institutions such as micro-credit institutions, non-governmental organisations, cooperatives and non-banking financial institutions to help administer the funds,” Mr Sikazwe said.
He said the issue of collateral was handled differently for each project and that it was important for applicants to realise that collateral allowed for a loan to be secured in the event of non-performance of a project.
The CEEC will also partner with market committees, cooperatives and associations, including cross-border associations, to ensure that their members accessed the money.
Early this week, Vice-President George Kunda said the Government was considering reviewing conditions for the CEEC to incorporate a component of social welfare fund to benefit groups that might not benefit because of failure to meet the stringent conditions.
Mr Kunda said this in Mkushi at the weekend in response to concerns that the CEEC would only benefit people who were already rich.
“The Citizens Economic Empowerment Fund is a new initiative of the Government and in similar respect, we want to review this idea so that we can see whether we can create a social welfare fund that can benefit vulnerable groups,” Mr Kunda said.
He stressed, however, that the culture of not repaying loans had compelled the Government to attach stringent conditions to the fund.
Labels: CEEC, JACOB SIKAZWE
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Sikazwe urges formulation of sector codes
Written by Nchima Nchito
Wednesday, December 24, 2008 3:23:47 PM
(CEEC) chairperson Jacob Sikazwe has criticised the lack of participation by the various industries in developing sector codes.
Speaking at a CEEC press briefing yesterday, Sikazwe said the commission would face difficulties in achieving its goals without the sector codes.
“Sectors must know that the development of sector codes is a requirement by law and therefore they should comply,” Sikazwe said. “I wish to emphasise that there is no option but for sectors to comply and begin to formulate their sector codes.”
Sikazwe said so far, only the Zambia National Farmers Union (ZNFU) had advanced in terms of finalising sector codes for the agricultural sector.
And Sikazwe announced the commission’s intentions to empower the small traders and marketeers. Sikazwe revealed that the initiative had begun and the commission was currently in the process of evaluating an application from a Lusaka-based market association.
“This association has applied for a loan which is to be used to finance its membership credit requirements ranging from K200,000 as a minimum loan requirement to about K2.5 million as a maximum,” he said.
Sikazwe said through the initiative which is expected to be launched on January 10, 2009, the commission was targeting at least 6,200 marketeers.
Labels: CEEC, JACOB SIKAZWE, SECTOR CODES
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New visa fees have affected tourism sector, says Kaingu
New visa fees have affected tourism sector, says Kaingu
By Kabanda Chulu and Chiwoyu Sinyangwe
Thursday October 16, 2008 [04:00]
TOURISM Council of Zambia (TCZ) chairman Jacob Sikazwe yesterday urged the government to make policies that will ensure the country moves away from wildlife-based tourism to other related sub-sectors.
And tourism minister Michael Kaingu has confirmed that tourist arrivals into Zambia have been affected by the new visa fees introduced in February this year.
Sikazwe said the tourism industry in Zambia had many products to offer apart from wildlife, which has a huge potential to bring development when fully exploited.
“But in the absence of enabling policies, this poses challenges hence government should make policies to ensure that we start moving away from wildlife based tourism to other related sub sectors and we can do better especially if we put in place a better aviation industry,” he said.
And Sikazwe has challenged stakeholders in the industry to address the lack of skilled manpower and the insufficient bed capacity for the country to meet the 2010 target of recording over one million arrivals.
He said the approval of the hospitality and tourism Act would stimulate growth of the sector, especially in the area of having skilled manpower and ensuring quality standards.
And Kaingu said Cabinet would soon meet to discuss the new visa fees for possible inclusion in next year’s national budget.
He however said the government could not review the controversial visa fees now because it was towards the end of 2008.
Kaingu also said the seemingly return of political stability to Zimbabwe might put pressure on Zambia’s ability to attract tourists if the country continues to be perceived as an expensive tourist destination.
The new visa fees implemented by the government early this year were seen by industry as a hindrance to the sector’s growth and tourist arrivals into the country. For example, British nationals are now required to pay 75 pounds and 240 pounds for single and multiple entries respectively. The Immigration Department justified the increase saying it was in tandem with the fees paid by Zambians for a British visa.
Labels: JACOB SIKAZWE, TOURISM, VISAS
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CEEC will only consider projects that create employment, says Sikazwe
By Kabanda Chulu
Friday October 10, 2008 [04:00]
CITIZENS Economic Empowerment Commission (CEEC) chairperson Jacob Sikazwe has said the commission will only consider project proposals that will create employment and sustainable development in Zambia. And Sikazwe has challenged Zambians to embrace the available opportunities in the country in order to create wealth.
Commenting on the CEEC funds that would soon be disbursed across the country, Sikazwe urged those who intend to submit business proposals to bear in mind that the funds should be utilised in a very prudent manner.
“The biggest challenge we have as a country is failing to embrace the opportunities that can result in not only wealth creation for entrepreneurs but for others as well through job creation and sustainable development for the whole country,” said Sikazwe. “And those people accessing funds should know that we want projects that will create jobs not just for themselves but for others as well and also these funds should be applied in very prudent manner since it will be a revolving fund.”
The CEEC was created in 2006 through an Act of parliament. And this year, the government granted a budgetary allocation of K150 billion for project proposals that would be submitted by citizens across the country.
Labels: CEEC, JACOB SIKAZWE
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Youths urged to learn entrepreneurship skills
Posted on August 7th, 2008
The Citizens Economic Empowerment Commission (CEEC) has assured youths in the country that it has provided seed money in order to mitigate the difficulty that youths face in accessing empowerment funds from the commission. CEEC Chairperson Jacob Sikazwe reiterated that the commission has K150 billion which will be used to support broad based economic empowerment programmes for targeted citizens such as youths, women and the disabled.
Mr. Sikazwe urged youths to get close to successful business persons in the country in order to learn the best practices of managing an entrepreneurship. He said this in Lusaka today at a youth sensitization workshop on the operations of CEEC and funding guidelines organized by the Youth Association of Zambia.
And YAZ Executive Director Evans Musonda said his organized stands ready to partner with the CEEC in the area of sensitization in order to ensure that all young people access the empowerment funds.
Mr. Musonda also disclosed that his organisation has since January this year spent over K1 billion in giving loans to young people in seven provinces.
He said YAZ which works in partnership with the Copperbelt Forum will by September this year cover all districts in all the nine provinces in a bid to supplement government efforts in youth empowerment.
The two-day workshop has drawn about 30 youths from all the nine provinces and is being held at the Commonwealth Youth Programme office at the University of Zambia great east road campus.
ZANIS/BK/AM/ENDS
Labels: CEEC, ENTREPRENEURS, EVANS MUSONDA, JACOB SIKAZWE, MENTORING, MICRO-FINANCE, WORKSHOPS, YAZ, YOUTHS
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Mabel Mung’omba is CEE director general
By KASUBA MULENGA
THE Citizens Economic Empowerment (CEE) Commission has appointed Chartered Institute of Marketing president, Mabel Mung’omba, as its director general. Former International Chemicals (Z) Limited general manager and current Commission chairperson, Jacob Sikazwe, announced Mrs Mung’omba’s appointment at a press briefing in Lusaka yesterday. Mr Sikazwe said Mrs Mung’omba had 18 years of experience in the private sector at senior executive management level and was highly qualified in business management.
“I wish to congratulate her on this appointment and charge her with the responsibility of providing strategic leadership and vision to the commission in ensuring that its objectives are met,” he said.
Mr Sikazwe said the CEEC had the vision of promoting the broad based economic empowerment of targeted citizens and companies which Mrs Mung’omba should work towards accomplishing.
And accepting the appointment, Mrs Mung’omba said she received the news with humility and great honour.
She said her understanding of the new role was that the CEEC was supposed to promote the second wave of Zambia’s independence.
“The first was political independence and the second wave is economic which translates into access to good education, water, food and various means of livelihood,” Mrs Mung’omba said.
She felt privileged to serve the CEE as it would support Government and help Zambians to achieve the economic independence of their families.
“I am also aware of the challenges that will come with the job because it is the desire of every Zambian to see it work so that the economic landscape of the country is changed,” she said.
And Ministry of Commerce, Trade and Industry permanent secretary, Davison Chilipamushi, who is also a CEEC commissioner, said Mrs Mung’omba should work towards ensuring that any possible existence of bureaucracy in the commission benefited the people.
Mrs Mung’omba holds an undergraduate degree in Business Administration from the Copperbelt University and three postgraduate qualifications.
She has among other qualifications a Masters in Business Administration with a major in Multinational Finance and International Business, diploma from the Chartered Institute of Marketing, United Kingdom (CIM) and a Cross Sector Partnership qualification from Cambridge University.
She also worked as chief executive for the Africa Health Services, an Anglo American Corporation subsidiary, before joining the start-up team that led to the vision and development of Celtel.
Mrs Mungomba is currently serving as an in-country, African and global consultant on a British Council led Interaction Leadership programme running in 19 African countries.
Government has allocated K120 billion to the CEE, which is supposed to be accessed by successful Zambian applicants for economic empowerment projects.
Labels: CEE, JACOB SIKAZWE, MABEL MUNG'OMBA
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Mabel Mung’omba is CEE director general
By KASUBA MULENGA
THE Citizens Economic Empowerment (CEE) Commission has appointed Chartered Institute of Marketing president, Mabel Mung’omba, as its director general. Former International Chemicals (Z) Limited general manager and current Commission chairperson, Jacob Sikazwe, announced Mrs Mung’omba’s appointment at a press briefing in Lusaka yesterday. Mr Sikazwe said Mrs Mung’omba had 18 years of experience in the private sector at senior executive management level and was highly qualified in business management.
“I wish to congratulate her on this appointment and charge her with the responsibility of providing strategic leadership and vision to the commission in ensuring that its objectives are met,” he said.
Mr Sikazwe said the CEEC had the vision of promoting the broad based economic empowerment of targeted citizens and companies which Mrs Mung’omba should work towards accomplishing.
And accepting the appointment, Mrs Mung’omba said she received the news with humility and great honour.
She said her understanding of the new role was that the CEEC was supposed to promote the second wave of Zambia’s independence.
“The first was political independence and the second wave is economic which translates into access to good education, water, food and various means of livelihood,” Mrs Mung’omba said.
She felt privileged to serve the CEE as it would support Government and help Zambians to achieve the economic independence of their families.
“I am also aware of the challenges that will come with the job because it is the desire of every Zambian to see it work so that the economic landscape of the country is changed,” she said.
And Ministry of Commerce, Trade and Industry permanent secretary, Davison Chilipamushi, who is also a CEEC commissioner, said Mrs Mung’omba should work towards ensuring that any possible existence of bureaucracy in the commission benefited the people.
Mrs Mung’omba holds an undergraduate degree in Business Administration from the Copperbelt University and three postgraduate qualifications.
She has among other qualifications a Masters in Business Administration with a major in Multinational Finance and International Business, diploma from the Chartered Institute of Marketing, United Kingdom (CIM) and a Cross Sector Partnership qualification from Cambridge University.
She also worked as chief executive for the Africa Health Services, an Anglo American Corporation subsidiary, before joining the start-up team that led to the vision and development of Celtel.
Mrs Mungomba is currently serving as an in-country, African and global consultant on a British Council led Interaction Leadership programme running in 19 African countries.
Government has allocated K120 billion to the CEE, which is supposed to be accessed by successful Zambian applicants for economic empowerment projects.
Labels: CEE, JACOB SIKAZWE, MABEL MUNG'OMBA
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Sikazwe calls for huge investment in tourism
By Kabanda Chulu
Thursday September 27, 2007 [04:00]
TOURISM Council of Zambia (TCZ) chairman Jacob Sikazwe has said lack of proper infrastructure is the biggest challenge facing the tourism sector in the country. And the Zambia National Tourist Board (ZNTB) recorded a 13.2 per cent increase in the number of visitor arrivals in 2006 having registered 756,860 visitor arrivals as compared to 668,862 tourists in 2005.
Commenting on the World Day of Tourism that falls today, Sikazwe said there was need to channel huge investments if the tourism industry was to realise its potential as the second priority sector after agriculture. He explained that capacity building programmes must also be put in place since the country lacked experienced and qualified manpower.
“We are happy to see the government prioritising the tourism sector after agriculture and putting in various reforms to ensure the industry is driven by the private sector but the biggest challenge facing the sector is lack of proper infrastructure especially that most tourism operations are rural based.
Our roads are incapable of enhancing the industry and this calls for massive investments,” said Sikazwe. “And our bed capacity is very little and it cannot be compared to what the city of Harare has to offer and also we lack qualified manpower and if issues of capacity building are not resolved then the huge investments will not matter because provision of sub standards will continue.”
And according to statistics from the ZNTB, Zambia recorded an increase of 13.6 per cent in the number of international tourist arrivals. In 2005, Zambia recorded 668,862 visitor arrivals as compared to 756,860 in 2006. During the same period under review, the ZNTB also recorded K9.814 billion in 2006 as compared to K6.242 billion in 2005 while operating costs amounted to K5.512 billion as compared to K4.139 billion during the same period.
It was also stated that Europe contributed 19 per cent of the total arrivals and registered a five per cent growth from the 2005 figure. Out of Europe, the United Kingdom continues to lead as the biggest tourist source market for Zambia followed by Germany while South Africa continues to dominate the African region as the biggest short-haul market.
And data received from the national parks indicate that a total of 42,907 international tourists visited the national parks thus registering a 19 per cent increase over the 2005 figure of 36,097.
The South Luangwa National Park was the most visited park accounting for 52 per cent of the total visits to the national parks followed by Musi-o-tunya and Lower Zambezi National Parks.
Data collected at the Victoria Falls indicate that 114,571 tourists visited the Falls in 2006 and their average duration of stay in 2006 was six days.
However, the government’s objective of increasing tourist arrivals by additional 400,000 by the year 2010 through the 2005 Visit Zambia Campaign seems to be an elusive goal following the reduction of funding to the project.
According to the 2007 budget estimates and expenditure, under the Tourism Development Unit of the Ministry of Tourism, Environment and Natural Resources (MTENR), government has allocated a paltry K4,994,800 as funding for the Visit Zambia Campaigns that would focus on promoting the North Western Province.
Nevertheless, the government has allocated K1 billion for the Northern Circuit (Northern and Luapula provinces), which was the emphasis for last year’s Visit Zambia Campaign. The government has also allocated huge funding to units that fall directly under the MTENR such as K500 billion for tourism promotion and marketing and K216 billion for facilitation of foreign travel and K50 million for the review of the tourism policy.
Labels: JACOB SIKAZWE, TCZ, TOURISM
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