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Finland promotes impact investment in Zambia, partners with NABII on Inaugural Investment Summit on 29-30 November

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THE Government of Finland is partnering with NABII, to make possible their Inaugural Investment Summit in Lusaka on 29-30 November 2021, with the theme ‘Building a Sustainable, Inclusive and Green Recovery’. Through its private sector programme, Finland supports the organization of the Summit, as an important instrument to encourage investment and speed up economic growth.

The two-day Zambia Impact Investment Summit (ZIIS) will take place on 29-30 November 2021 in Lusaka at the Mulungushi Conference Centre where the Embassy, with National Advisory Board for Impact Investment (NABII) and other high level stakeholders will be addressing participants. The Summit will bring together leaders from business, government, donors and civil society, to shape impact investment in Zambia. The objective is to leverage innovations and solutions for sustainable, inclusive and green recovery.

The summit will address three interconnected themes: (1) fostering an enabling policy and regulatory environment for impact, (2) mobilising capital for impact, (3) building a cohesive ecosystem to support Small and Medium Businesses. The topics are addressed in plenary sessions, panel discussions and fora with inspirational speakers and engaging discussions.

Finland-Zambia relations focus strongly on the private sector, with the Accelerated Growth for SMEs in Zambia programme, the annual Finnish Week of Business and other private sector activities taking centre stage. This is because a vibrant private sector is the foundation of sustainable development, and essential for securing jobs and livelihoods.

“The government of Finland is excited to be partnering with NABII on this inaugural impact investment summit, Ambassador Pirjo Suomela-Chowdhury says. “Our role in the Summit should be seen in the context of Finland’s many private sector activities in Zambia. It is part of our support to promote economic growth in the country. In line with the Zambian government’s priorities, we are focused on strengthening the MSME ecosystem. I am absolutely delighted that with this important Summit, we can continue contributing to investment and private sector development.” The Ambassador further mentions that Finland has previously supported in Zambia the Impact Capital Africa investment event, and that Finnfund, a Finnish impact investor, has made important investments in the country.

The government of Finland funds the Accelerated Growth for SMEs in Zambia Programme (AGS) in total with nine million euros over four years. The Programme, implemented in partnership with the Ministry of Commerce Trade and Industry of Zambia, aims to accelerate the growth and competitiveness of micro, SME and startup companies in Zambia, and to build partnerships within the country, regionally and internationally. It focuses on agribusiness, forestry, renewable energy, circular economy and mining services, with ICT and education as cross-cutting sectors. Finland also supports companies in Zambia through the Southern Africa Innovation Support programme (SAIS2) and other instruments, and organizes an annual Finnish Week of Business to promote partnerships between Finnish and Zambian companies.

Further information: Ms. Jenna Kirkkari, Trade and Economics Adviser jenna.kirkkari@formin.fi, +260 976 542 134

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    Zambia Airways will spur growth in the tourism and export sectors, says Frank Tayali

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    TRANSPORT and Logistics Minister says investment into the Zambia airline represents government commitment to deepen and strengthen the country’s value chain development agenda.

    Speaking when he launched the Zambia airline, Frank Tayali said the establishment of the national airline will spur growth in the tourism and export sectors and will have a significant multiple effort on job creation through different businesses in the aviation sector supply chains.

    He said the development also signifies improved accessibility to tourists attraction for tourists to ensure the full utilisation of airport facilities and transformation of Zambia into a transitional hub.

    “We accept being a government of a land linked country, but we will not accept to be sky locked, he said.

    “Our full support is granted to Zambia airways through assured innovative and effective aviation sub sector policies and strategies,”

    Mr Tayali further said the commercial airline has been established to promote competition in the aviation industry, as opposed to assertions that the airline has been established to kill competition.

    “What we are witnessing here today is proof on the committee towards making the Zambian economy work effectively and competitive to sustainably lift the living standards of the Zambian people,” he noted.

    Mr Tayali further called for excellency from all workers, especially the customer care personnel.

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    16 ZDF Officers Complete U.S. Government-Supported Training Management Course

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    ON November 26, sixteen Zambia Defence Force military officers completed a month-long course in Advanced Training Management and Training Resource Management.  Supported by the U.S. government’s Global Peace Operations Initiative, course participants built mission analysis skills, learned advanced training design techniques, and prepared for upcoming deployments (including UN peacekeeping missions to the Central African Republic).

    To demonstrate their proficiency at the close of the course, participants produced and presented briefings on how to resource and design military exercise trainings.  This culminated in the design of a battalion field exercise plan for the deploying Zambian Battalion (ZAMBATT), which participants briefed to Zambia Defence Force officials.  After the completion of a final written exam, the group graduated on Friday.

    The Global Peace Operations Initiative is a U.S. government-funded security assistance program that strengthens international capacity and capability to execute UN and regional peace operations by enhancing partner countries’ sustainable, self-sufficient peace operations proficiencies and by building the capacity of the UN and regional organizations to conduct such missions.

     

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    Mining the Escape from the Debt Trap

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    THE best way for African countries to avoid incurring more unsustainable debt is by fast tracking the domestication of the Africa Mining Vision (AMV), reviewing and harmonising of international instruments regarding the governance of mineral resources. The Southern African Development Community (SADC) is losing around US$21.1 billion a year from external government debt payments.

    This was revealed at the ongoing international conference which is being hosted by the Centre for Trade and Policy Development (CTPD) with the support of its partners in Lusaka on the governance of mineral resources when two researchers, Veronica Zano and Kenneth Okwaroh, released their research findings on the state of mineral resource governance in Southern and East Africa.

    The AMV is a policy framework that was created by the African Union in 2009 to ensure that Africa utilizes its mineral resources strategically for broad-based economic development and inclusive development. The framework seeks to encourage African leaders and citizens to act now to ensure that the goals of the AMV are realised. The AMV was adopted by Heads of State at the February 2009 AU summit following the October 2008 Meeting of African Ministers responsible for Mineral Resources’ Development. It is Africa’s own response to tackling the paradox of great mineral wealth existing side by side with pervasive poverty. The AMV is holistic. It advocates thinking outside the “mining box”.

    “One of the key prerequisites to converting extractive wealth into sustainable development is capturing a fair share of the revenues that come from the extraction of resources. The AMV gives African countries an opportunity to transform their economic fortunes through advancing good mineral resource governance,’’ Ms Zano stated.

    “Despite being a non-binding framework, member states are encouraged to adopt it into national laws and policies. So far, 24 out of 54 countries have started the implementation of the AMV.  Only Lesotho has fully domesticated and used AMV to prepare its Country Mining Vision (CMV). The AMV has largely influenced the push for reforms in the mining laws/ codes of member states,” She added.

    Examples of countries which are actively working to reform their mining laws on the basis of the components of the AMV include Malawi which replaced the Mines and Minerals Act 1981 with the Mines and Minerals Act 2018 and Democratic Republic of Congo (DRC) which came up with the DRC Revised Mining Code of 2018. Other countries in the region such as Zimbabwe and Namibia have on-going legal processes to revise their mining laws

    “It is important for us to understand that we can only get the most out of all the initiatives we come up with to best govern our extractive industries by enhancing the institutional capacity on mineral resource governance. On most of the negotiation tables, we are at a disadvantage even before negotiations begin because we do not have enough men and women with the expertise to get us the best deals at the table,” Ms Zano noted

    Mr Okwaroh bemoaned the slow pace at which African countries are working to reform the laws regarding mineral resource governance charging that capturing commensurate revenues and benefits from the extractives sector will liberate the continent economically.

    “We need to promote ownership and increased buy-in from policymakers in initiatives such as the AMV. We need to open up the policy making space to non-state actors so that we can come up mine taxation frameworks which promote transparency and openness. This is far better than getting loans and placing our resources as collateral, which will make us pass on our indebtedness to future generations,” Mr Okwaroh added.

    On loans, Ms Zano emphasized on the need for all borrowings such as loans to be made transparently and reflected in the statements of the nation’s income and expenditure in the national budget.

    Emphasizing on the need for the increased participation of         the local people in large scale mining ventures, Mr Okwaroh stated: “We need to promote local content participation in the industry by implementing local content laws and supporting the local micro, small and medium enterprises. There is need to strengthen policy frameworks governing artisanal and small-scale mining.”

    To withstand the stress on the mining sector occasioned by unexpected misfortunes such as the outbreak of the Coronavirus Pandemic, the two researches advised countries to prioritise diversification, value addition and beneficiation.

    “Developing consistent economic policies and stable macroeconomic environments with fiscal sustainability to endear good economic governance and boost investor confidence thereby encouraging local and foreign investment in large, medium and small -scale mining operations remains key in us getting the most out of our extractive industries,” concluded Ms Zano.

    Other notable initiatives which seek to promote the open and accountable management of oil, gas and mineral resources includes the Extractive Industries Transparency Initiative (EITI), Resource Governance Index, Dodd-Frank Legislation, Publish What You Pay (PWYP) and  Kimberley Process Certification Scheme (KPSC)

    Mining is an industry of strategic importance in Southern Africa. Roughly half of the world’s vanadium, platinum, and diamonds originate in the region, along with 36% of gold and 20% of cobalt. The sector accounts for about of 25% of SADC’s GDP, 7 % of direct employment and 20 % of national government revenues.

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    Foxdale Forest – Phase 2 Selling

    ZAMBIA: COVID-19 STATS

    30 Nov 2021, 7:22 AM (GMT)

    Zambia Stats

    210,169 Total Cases
    3,667 Deaths
    206,406 Recovered

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