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Govt. to introduce a livestock insurance to compensate farmers, says President Edgar Lungu

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PRESIDENT Edgar Lungu says government has introduced a livestock insurance weather index to compensate farmers who have insured their livestock, and are affected by drought or floods.

Speaking when he graced the cattle field day hosted in namwala district by the Zambia National Farmers’ Union and Namwala District Farmers Association, President Lungu said government will soon kickstart the first ever livestock weather insurance index programme which will see over 5,000 livestock farmers insured.

“My government will continue with such innovations to address emerging challenges.Southern province is one of the provinces which is benefitting from some of these interventions i have just alluded to. My government will continue engaging farmers with a variety of tools of innovations in order to improve livestock production and productivity,” he said.

He also encouraged farmers  to upscale milk production by increasing their milking herds and investing in superior pedigrees.

And President Lungu said  government is keen to facilitate the exportation of goats to Saudi Arabia by farmers but the volumes are low compared to what the market demands.

He further assured farmers that government is on high alert in dealing with the foot and mouth disease through measures that will contain and prevent the spread of the disease.

“I am aware that currently, the foot and mouth disease has re-surfaced in some parts of Southern, Western, Central and Lusaka provinces. We are aware of the current challenges farmers are facing in light of the foot and mouth disease outbreak in the affected areas.The disease if left unchecked can have devastating economic consequences on over 1.6 million households that are involved in livestock rearing.This amounts to 72.2 percent of total agricultural households,” he said.

The President said government has however come up with mechanisms that will promote animal health and veterinary public health programmes such as setting up of the animal disease control fund which will facilitate the availability of funds for rapid response to disease outbreaks.

He said government will also conduct mass vaccinations of cattle.

“I therefore, implore farmers to ensure that they present their animals for free vaccinations to be undertaken by government. As you might be aware, 90 percent of the outbreaks in this country are linked to illegal movement of animals from one place to another,” the President added.

He has since directed the police who are in the frontline in preventing illegal cattle movement to step up controls of livestock movements to avoid the spread.

President Lungu further called on the ministry of Fisheries and Livestock to facilitate legal movement of animals, especially, for farmers trying to acquire breeding stocks.

(Picture by Salim Henry)

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Zambia secures historic debt deal with External Bondholders

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THE Zambia External Bondholder Steering Committee has announced a significant breakthrough in negotiations with the Government of Zambia regarding the restructuring of Eurobonds.

The agreement, termed the “2024 Agreement,” encompasses the restructuring of three major Eurobonds totaling US$3 billion.

This development marks the culmination of sustained efforts following the rejection of the previous agreement-in-principle in November 2023 by the Official Creditor Committee (OCC).

Since then, the Committee has collaborated closely with the Government to achieve a restructuring arrangement that aligns with its standards of comparability of treatment and the IMF’s program parameters under the Second Review framework.

In a statement issued today, it states that the 2024 Agreement builds upon the foundation of the November 2023 agreement, albeit with necessary adjustments to address evolving circumstances.

Notably, the terms provide for additional debt relief beyond the initial agreement, aiming to resolve the standing default on the Eurobonds while supporting Zambia’s macroeconomic and debt sustainability objectives under the IMF-financed program.

The bonds offer future debt relief contingent on Zambia’s economic progress, ensuring a dynamic response to the country’s evolving financial landscape.

And a spokesperson expressed optimism regarding the agreement’s potential to restore full international capital markets access to Zambia and catalyze long-term investment in the country.

“We are pleased to have finally reached a definitive and conclusive agreement with the Government that is supported by all stakeholders and which will, in due course, restore full international capital markets access to Zambia and encourage long-term investment in the country, to the benefit of all Zambians,” the spokesperson said.

The Committee urged Eurobond holders to carefully evaluate the terms of the prospective offer and make informed decisions regarding participation.

(Mwebantu, Monday, March 25th, 2024)

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Current load-shedding may last up until the end of the year, say Mapani

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ZESCO Managing Director Victor Mapani says that the effects of the current load-shedding crisis may be prolonged up until the end of the year.

Mr Mapani however said Zesco is looking at ways to address the challenges,with solar being one of the early solutions.

He said that solar being the shortest alternative will take little time frame to set up , while others such as hydro alternatives being set up in various parts of the country may take up more time.

Speaking on Diamond Television last night, Mr Mapani said the current load-shedding will not end in October.

“Costa, first I should correct that I never talked about load-shedding ending in October. The load-shedding will not end in October because where will the water come from? We look at the whole year up to December,” he said.

He said the current water levels will be rationalized up to December, but noted that if this year’s rain pattern will be favourable, the levels would rise faster, thereby cutting down on load-shedding.

When asked if the number of hours in load-shedding will be reduced, Mr Mapani said the hours may not necessarily reduce.

Further, when asked about being selective in how power management was being rationed in terms of load-shedding, Mr Mapani clarified that it is not selective but exemption method is being used.

He noted that some places were being exempted due to having life line areas such as hospitals which could not  afford to be put off the grid.

Mr Mapani also clarified that some power generation exports are still taking place due to bilateral agreements with some countries, but that they had cut back on some megawatts to help the current deficit being faced.

He noted that the company is in the process of opening up markets for power generation so as to help wave off the bureaucracy around power generation.

“We are in the process to open up market for power generation,” he noted.

He said opening up a market will allow individuals that have capacity to help address the power deficit that the power generation company has.

Mr Mapani added that to address the whole load-shedding crisis, there is need to explore more on other alternatives and that solar is one alternative that is being worked on as a solution.

“We  believe that these plants that are being constructed now within 15 months, the pain will be reduced. We are hoping that other players also looking at other alternatives,” he said.

(Mwebantu, Monday, March 25th, 2024)

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” Yango Partners with KFC to Bring Finger-Lickin’ Experience to Your Doorstep”

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Yango the leading online platform for rides, meals and commodities delivery in Lusaka, is proud to announce its latest partnership with KFC, one of the city’s most beloved fast-food chains. As of today, KFC’s  menu is available for delivery  via the Yango App.

With eight convenient outlets across Lusaka, including Munali Mall, Manda Hill, East Park Mall, Makeni Mall, Lewanika Mall, Twin Palms Mall, Centro Mall, and Waterfalls Mall, customers can now enjoy KFC’s iconic flavours from the comfort of their homes or offices. Whether craving the signature Classic Twisters, Dunked Wings, or the famous Zinger Burger, Yango has you covered, delivering KFC’s delicious offerings to your doorstep.

“We are thrilled to welcome KFC onboard the Yango App,” said Luke Mulenga – Head of Operations for Food Delivery at Yango. “This partnership not only expands our diverse range of food options but also underscores our commitment to providing unparalleled convenience and satisfaction to our customers.”

Since the launch of this partnership, more than 5,000 portions of wings (670 kilograms), over 1500 burgers and 2000 twisters have been ordered. Customers can order KFC on the Yango App from 8:00 AM to 10:00 PM daily at their convenience thus ensuring customers indulge in their favourite KFC treats throughout the day.

Download the Yango App today to experience the convenience of ordering KFC and satisfy your food cravings with just a few taps.

 

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