PAST PARLIAMENT WAS THE MOST SELFISH ON RECORD – ACTIVIST

Good Governance Activist, Simon Kabanda has described Zambia’s immediate past legislative house as most selfish.

President Rupiah Banda recently dissolved the parliament to pave way for this year’s general elections on 20^th September 2011.

Mr Banda dissolved the parliament, side-by-side his cabinet of Ministers, who were picked from the respective legislative house.

But Mr Kabanda, who is also Executive secretary for the local Non-Governmental Organisation, Citizens forum, says the past parliamentarians focused so much on themselves.

He has explained that this was at the expense of the people they were supposed to represent.

The respective parliament also failed the hugely funded constitution making process by failing to agree on its enactment.

Government allocated public resources in excess of 100 billion Kwacha towards the constitution making process, which was however sabotaged by parliament.

ZAMBIAN BUSINESS MOGUL SUFFERS CARDIAC ARREST

Former Finance Bank board Chairman, Rajan Mahtani has been admitted to the local private clinic after suffering a suspected cardiac arrest.

The embattled Zambian businessman is alleged to have suffered a heart attack on the night of Friday, 29^th July 2011.

Dr Mahtani was then rushed to the Care For Business –CFB- clinic where he is currently under observation.

The former Finance Bank board Chairman is currently embattled, facing several court cases, some of which relate to his business empire.

Among the court cases which Dr Mahtani is facing is a charge of forgery, together with his Management Secretary, Parvathi Nachimuthu and Corporate Administrator, Chisha Mutale.

The trio, are alleged to have fraudulently acquired 58 percent shares in a local cement producing company, Zambezi Portland, which they are alleged to have registered with the patents and companies registration agency.

He has also been sued by his former legal counsel, Zahedah Essah for defamation of character over an article published in a local daily paper under the headline DEC arrests, charges Mahtani with forgery.

Dr Mahtani is also facing five charges of forgery, uttering a false document and fabricating evidence contrary to the Laws of Zambia, together with his lawyer, John Sangwa.

BARRICK GOLD LOOKS TO EXPAND ITS ZAMBIAN UNIT AT LUMWANA

Barrick Gold is evaluating potential expansions at its Lumwana copper mine in Zambia.

According to the Bloomberg online, Senior Vice President for Global Exploration, Rob Krcmarov says this could involve doubling throughput at the operation.

The company will complete an expansion study for Lumwana in the second half of 2012, said on a conference call.

Toronto-based Barrick, the world's biggest gold miner, acquired the operation after it agreed in April to buy copper miner, Equinox Minerals for C$7.3 billion, trumping an earlier bid from China's Min-Metals Resources.

Mr Krcmarov has said the company is focusing on exploration at Lumwana, and sees excellent potential for both brownfields and greenfields resource growth.

The company will spend more than US$50 million in 2011 as part of an 18 month exploration program to increase the measured and indicated resource as part of the expansion study.

Lumwana is expected to produce 155-million to 175-million pounds of copper between June 1 and the end of the year, at total cash costs of between $1.75/lb and $1.95/lb.

Barrick is working on improvements at the operation, including mill de-bottlenecking, pit re-optimisation, mine sequencing changes and better dilution control.

GLENCORE APPOINTS NEW CEO FOR ITS MOPANI UNIT IN ZAMBIA

Glencore International PLC has replaced the Chief Executive Officer for its Zambian unit, Mopani Copper Mines.

The Multi-national mining company has appointed Danny Callow as the new CEO.

this is according to a statement published in a local daily newspaper.

Callow replaces Emmanuel Mutati, who now becomes Chairman of Mopani copper Mines' board, the company has further said.

Mr Callow joins Mopani from Mutanda Mining, a Glencore unit in the Democratic Republic of Congo.

NGO SEEKS BALLOTS PRINTING CONTRACT CANCELLATION

Anti-Rigging Zambia has called on the Electoral Commission of Zambia –ECZ- to cancel the contract for the printing of ballots for this year’s elections.

The ECZ recently awarded South African company a contract to print ballots for the general elections.

Just like in the 2006 and 2008 elections, the ECZ has awarded Universal printing, the contract to print ballot papers.

But Anti-Rigging Zambia says the contract awarding of is of grave concern to other political parties.

The Non-Governmental Organisation claims the contract awarding was directed by the government of the MMD, despite the party being in power at the time of the decision making.

The call is contained in a letter dated 29^th July 2011, addressed to the ECZ Chairperson, Ireen Mambilima and signed by Anti-Rigging Zambia Chairman, Willie Mubanga and Legal Director, Kelvin Bwalya.

The letter has also been copied to all presidents of major political parties, including the MMD.

And the NGO is also asking if the ballots can be printed locally because it will save tax payers money.

However, the Zambian government and the ECZ have in the past insisted that the country has no capacity to print ballots locally.

INVESTMENT IN EXCESS OF US$ 1.5 EXPECTED IN ZAMBIA

Zambia Development Agency Acting Director for Research Planning and Policy, Collins Sifafula says the country expects record investments worth US$1.5billion by the end of this year compared to the US$ one billion recorded last year.

Mr Sifafula says the increase in investments will be driven by robust mining, manufacturing and energy sectors.

Mr Sifafula said this on Tuesday, 26^th July 2011 in Lusaka at the launch of the United Nations Conference on Trade and Development World Investment Report 2011

And ZDA Acting Director for Investment Promotion and Privatisation, Henry Sakala has said foreign direct investment stocks increased to US$8.515billion last year compared to US$7.4 billion recorded the previous year.

Mr Sakala said Zambia needs to continue to be the investment destination of choice because FDI is a key component of the world’s growth engine.

He said intensifying good economic policies and maintaining a stable political environment are key factors in attracting FDIs.

Mr Sakala observed that the post-economic crisis recovery in FDIs has been slow to take off and is unevenly spread hence the need to attract FDI amid challenges.

The global FDI last year stood at US$1.24 trillion, 15 percent below the FDI recorded in 2007 before the global recession.

In the report, UNCTAD, however, notes that recovery of FDI flows will continue in 2011 with the expected growth of inflows to be between US$ 1.4 trillion and US$ 1.6 trillion.

The report also states that the on-going corporate and industrial restructuring, privatisations resulting from rebalancing efforts and unwinding of state support programmes and the growth of emerging economies will also create new investment opportunities.