In its latest update, consumer watchdog, the Consumer Council of Zimbabwe (CCZ) said notable decrease was recorded in fuel which has been going down over the past few months following international oil prices which have also been on the downward trend. This has led to the price decrease of some commodities like sugar, fresh milk, laundry bar and cabbage.

“We assume that the above price decreases are necessitated by the reduction of fuel costs as more commodities are imported from outside the country. However, the increase in mealie-meal prices is due to importation costs and shortage of maize in the country,” said the consumer watchdog.

CCZ Matabeleland regional manager Mr Comfort Muchekeza said there was an urgent need for the Government to engage maize producing countries and purchase more to alleviate shortage of mealie-meal. He also said that prices of commodities have been gradually dropping since last year, one of the reasons being attributed to the fall of the South African rand in recent months. ”As a result of South Africa being our number one trading partner, the fall of that country’s currency made it cheaper for local wholesalers and retailers to an extent that the price drop was felt by consumers,” said Mr Muchekeza.

VICE-PRESIDENT Inonge Wina told Parliament on 12th March that it may take some time for Zambia’s economy to benefit from the recovery of the price of copper on the international market.

Mrs Wina said the rising copper price does not automatically guarantee benefits to the Zambian economy.  “It may take time to benefit Zambia’s economy. It is a long process and not a one-day thing,” she said, “Our economic future is very bright. The indicators are there.”

The Vice-President explained that Government is diversifying the economy to trigger growth. “Inflation is triggered by many factors and our export earnings were under pressure but we are on a path to recovery with the measures we have put in place,” Mrs Wina said.

Farmers in Zimbabwe can now use the 99-year leases to borrow money from the banks after Government and bankers ironed out sticking points that made banks reluctant to accept the leases as security. The move, barring El Nino-induced drought, is expected to boost agricultural production and ensure maximum land utilisation.

In an interview yesterday, Finance and Economic Development Minister Patrick Chinamasa said Government and bankers had cleared outstanding issues and came up with a draft tradeable document.

”Boosting productivity is not a once-off thing. ”he said, since the agriculture sector was important as 70 to 90 percent of the population depended on the industry. He said Government was also in the process of remapping farms with financial support from the European Union and the United Nations Development Programme and the resources provided by Treasury. Government is also working to improve irrigation, value addition and macro-environment for the purpose to achieve a rapid and inclusive growth of the country.

ZAMBIA will become a regional exporter of electricity once the development of new sources such as the 600 megawatts (MW) solar photo voltaic power plants are commissioned, Deputy Minister of Commerce, Trade and Industry Raymond Mpundu has said.

Speaking yesterday at the Zambia scaling solar bidders’ conference, Mr Mpundu said Government has prioritised energy diversification with solar power being a key priority.

He said Government will not be required to support the procurement and development of a large-scale solar power into Zesco through provision of a sovereign guarantee since the World Bank has already confirmed its support for the initial 300MW one through a partial risk guarantee facility (PRG).

The winning bidders will be responsible for the financing, construction, operation and maintenance of their respective plants under 25-year power purchase agreements.

THE ZAMBIA Revenue Authority (ZRA) says workers on the pay as you earn (PAYE) scheme and faithfully pay tithe annually to their churches are eligible for refund by the authority.

ZRA Chipata revenue officer Kafuna Maboshe said as an incentive, the authority can refund faithful Christians who are good church stewards, but that most people did not know about the tithe refund. He said this during a Seventh Day Adventist (SDA) professions and business meeting at Lutembwe SDA church in Chipata on Sunday.

Convener of the meeting, SDA Chipata district mission pastor, John Phiri commended the facilitators and said the objective of the meeting was to encourage church members to be effective Christian stewards.