HIGHLIGHT results of a survey on the financial impact of COVID-19 on Micro and Small Enterprises (MSEs) conducted by FSD Zambia in collaboration with BFA Global show that Zambian businesses critically need working capital, with 72 per cent of businesses unable to raise funds.
This is according to a statement released by FSD Zambia Head of Communications, Eneyah Phiri.
Phiri states that the research, which was aimed at understanding the economic situation from the perspective of MSEs, shows that about 40 per cent of MSEs are seeing a significant decrease in revenues.
“The survey was also designed to assess MSE digital readiness as a method to limit the impact of COVID-19. Despite these odds, most MSEs foresee continuing operations. They are confident that their business revenue is enough for the same level of production and are optimistic about recovery” Phiri said.
As recent studies have shown, the lowest income segments are particularly vulnerable to the economic impact of the coronavirus pandemic and the resulting economic slowdown. The survey by FSD Zambia and BFA Global was conducted to better understand the effects of the crisis on MSEs in the country.
Meanwhile, FSD Zambia Chief Executive Officer, Betty Wilkinson, said, “The key issue of gaps in working capital is important. So is the optimism and commitment of small firms to stay alive through the challenging COVID-19 period. FSD Zambia will be looking for options to help financial institutions grow working capital loans and expand our own Working Capital Access project to help these enterprises survive and thrive.”
The results of the survey will help FSD Zambia, Government and other financial market players to fill the gap in digital technology, to facilitate commerce not only in the time of COVID-19 but in the near future. As MSEs are encouraged to adopt the use of digital platforms, partnerships among key stakeholders of the sector should aim to improve internet connectivity issues, technological infrastructure and lower prices of digital financial services.
Mbasela Nafuti Pa GOtv
GOtv gives customers a surprise gift where customers get an Upgrade on their subscriptions. From 25th January 2023 to 31st March, 2023, GOtv customers who pay or renew their GOtv Subscriptions will be upgraded to a higher package at no extra cost! That’s right pay now and enjoy a higher package for FREE!
What better way to celebrate loyal customers than with this amazing gift? GOtv is giving customers a chance to step up their 2023 entertainment experience at no extra cost.
Here is how it works: all customers currently on the GOtv Value bouquets will get an upgrade to GOtv Plus, while GOtv Plus customers will be bumped up to GOtv Max – everyone gets to enjoy bumped-up entertainment.
Meanwhile, GOtv Max customers will automatically get boosted to GOtv Supa where they will enjoy new seasons of Uncle Limbani, Date My Family, Mungoma and Wanilata on Zambezi Magic.
Active, new and returning GOtv customers can take advantage of this offer to sample entertainment available on higher packages by just paying for their subscription. New customers and those currently disconnected can connect or signup during the offer period to benefit.
GOtv customers will enjoy the benefits of superior entertainment offerings packed with world-class live sports, proudly local content, fun kids’ shows, captivating telenovelas and international movies.
Pay for your subscription and have yourself a Mbasela Nafuti pa GOtv.
A former ZRA accounts assistant slapped three years imprisonment for stealing over K170,000
THE Economic and Financial Crimes Court has convicted and sentenced a former Zambia Revenue Authority (ZRA) accounts assistant, Sami Sami to three years imprisonment with hard labour.
Magistrate Faides Hamaundu entered a statutory judgment and ordered the convict Sami to pay Zambia Revenue Authority the money that he had stolen.
Sami aged 43 was convicted on 18 counts of the offence of Theft by Public Servant contrary to section 277 of the Penal Code Chapter 87 of the Laws of Zambia.
The court heard that Sami an account assistant at ZRA on dates unknown but between the 16th day of August 2018 and the 31st day of July,2019, being a person employed in the Public Service namely ZRA stole K174,566.59 cash which came into his possession by virtue of his employment.
And ZRA has sternly warned its members of staff that there are no sacred cows as any officers found wanting will be prosecuted to the fullest extent permitted by law.
(Mwebantu, Wednesday, 25th January, 2023)
ZRA dismisses fake social recruitment post.
THE Zambia Revenue Authority (ZRA) has dismissed reports circulating on social media platforms purporting that the authority has advertised for jobs.
ZRA Corporate Communications Manager Oliver Nzala said the social media reports are fake adding the general public should not be duped by unscrupulous people who are forging and coming up with fake ZRA documents in order to swindle unsuspecting people.
Mr Nzala said the fake recruitment adverts are a concern to the authority because some members of the public who are desperate for employment get swindled.
He urged the public to be on high alert concerning the scam, saying the unscrupulous people should be reported to the nearest police station or any ZRA office.
Mr Nzala also dispelled reports that the authority had set up a trust fund.
“The ZRA would like to warn and urge members of the public to strongly ignore and treat social media posts circulating, purporting that there is a Zambia Revenue Support Trust Fund Program and that the Authority has advertised for jobs, as fake. We have noted with great concern fake recruitment adverts circulating on social media purporting to have been issued by the ZRA. This is a big concern for the Authority because some members of the public who are desperate for employment get swindled,”he said.
He said ZRA’s recruitment process is anchored on core values of transparency, professionalism and integrity.
Mr Nzala said that ZRA advertises job vacancies on their website and in the print media.
He said in the past the authority has received cases from some being swindled of hard-earned cash by unscrupulous people purporting to be recruitment agents for ZRA.
He explained the swindlers send fake messages inviting the unsuspecting general public to attend interviews or assessment tests, conduct police clearance, undergo medical examinations and report for work.
(Mwebantu, Sunday, 22nd January, 2023)