March 2021, Quarter 1
AMCHAM QUARTERLY NEWSLETTER
WHAT'S INSIDE:
Welcome - 2
Chamber Activities During the Quarter - 2
Member Activities Brief - 4
New Members - 6
AMCHAM QUARTERLY
PAGE 2
Welcome to the Quarter one (1) Newsletter! We
The ZAM Jesuits Covid-19 Campaign target is to
are delighted to share with our membership the
provide food hampers to 5,000 families. The
activities that have happened within the Chamber
outbreak
and amongst some of our members in the just
particularly the second wave has left many a bread
ended quarter. As soon as the year began, Zambia
winner without work and unable to provide for
was ushered into the second wave of Covid-19. We
their families. By end of January, ZAM Jesuits
saw a sharp increase in the number of infections and deaths. A total of 67,693 infections have been recorded and 820 people have died of Covid-19 in Quarter 1 alone. It has now been a year since the first case of Covid-19 was recorded in Zambia. Businesses have had to quickly learn to adapt to stay afloat. Many businesses have had to cut down on staffing levels or even shut down altogether to continue operations while some businesses have
of
the
Covid-19
pandemic
and
COVID response had been able to provide food hampers to over 2,000 families and the Chamber was glad to have joined hands with the project to help them close in on the target. The donation was presented to the organization virtually via a zoom video conference call where Ms. Lowani Chibesakunda the President of the American
Chamber
of
Commerce
and
the
taken advantage of the circumstances and the
Secretariat addressed the 3 representatives of the
availability
these
ZAM Jesuits Covid -19 Response Program. The
unprecedented times. In seeking to adapt to the
aforementioned ZAM representatives are; Father
times, the Chamber also continued to serve its
Chiti, Father Andrew Simpasa and Mr. Norbert
members through innovative ways.
Tembo.
of
technology
to
thrive
in
ECONOMIC OUTLOOK DISCUSSION PANEL
CHAMBER ACTIVITIES DURING THE QUARTER Apart from hosting virtual site visitations to its members, the Chamber continued to host its events virtually. In the period under review, we hosted the following events/activities;
DONATION TO ZAM JESUITS COVID-19 CAMPAIGN On January 28th, 2021, The American Chamber of Commerce in Zambia hosted an Economic Outlook virtual panel discussion at the Corner Café. The discussion was focused around the economic environment of the country in light of the underlying
factors
In January, the American Chamber of Commerce in
discussion
was
Zambia donated K12,717.40 to the ZAM Jesuits
sponsorship of High Fly Tours. The Economic
Covid -19 campaign that distributes food packs
Outlook panel discussion was moderated by Mr.
across the City of Lusaka to Covid-19 victims. This
Humphrey Mulenga, Senior Partner at Deloitte and
donation was given from the proceeds of the golf
the
day (20%) that was hosted in October 2020.
Chairperson on the Zambia National Advisory
panelists
affecting
made
included;
the
possible
Dr
nation.
This
through
the
Austin
Mwape,
AMCHAM QUARTERLY
PAGE 3
Board on Impact Investment, Ms. Florence Muleya,
At the time, the Bill was in its third reading in the
CEO of the Zambia Association of Manufacturers
national assembly and awaiting assent from the
and Mr. Trevor Simumba a Senior International
President. The symposium was made possible
Development Economist.
through the sponsorship of Prudential Zambia, PWC and Southern Sun Hotel. The symposium discussion was moderated by Mr. Mafipe Chunga, Associate Director at KPMG and the panelists included; Mr. Leonard Mwanza, CEO of the Bankers Association of Zambia, Ms. Linda Kasonde, founder of LCK Chambers, Mr Vikas Sharma, Partner at PWC in Mauritius and Ms. Fredah Banda, Software Engineering expert and PhD candidate at Oxford University.
A number of questions and concerns were addressed in this panel discussion. Ultimately, some key policy prescriptions were for the Zambian government to formulate an agreement with the IMF in order to find a solution to the pressing national debt situation. Additionally, it was prescribed that, local debt be paid off to local suppliers and manufactures, in order to stimulate and
Following a fruitful discussion, it was prescribed
exportations, and bring down the rate of inflation
that the Bill’s assent be refuted so as to account
as well as the currency exchange rate. While
for and rectify the necessary provisions that raise
government
stimulate
constitutional and security concerns, in order to
economic growth, an emphasis was placed on the
better protect the citizens of the nation. With many
quality
of
concerns raised on human rights and freedoms, it
opportunities that improve the collective standards
was proposed for the Bill to be re-amended in
of living within the nation. Finally, it was also
order to do away with infringing provisions of the
prescribed that policies that facilitate a private
Bill, such as sections 29 and 54, to name a few. It
sector driven economy be clarified and that
was also prescribed that the controls and powers
forensic audit investigations be conducted in order
of the regulators be clearly stipulated in an
to tackle the issues of corruption and reduce the
amendment of the bill in order to curb the abuse
discretion of bureaucrats.
of power by regulating officers. Moreover, a call to
economic
of
activity,
was this
increase
production
encouraged
growth
and
to
the
creation
CYBER SECURITY & CYBER CRIME BILL SYMPOSIUM
specify the 'Minister' in reference was also made owing to accountability and curbing the potential abuse
of
government
resources.
Finally,
On March 18th, 2021, The American Chamber of
government was also strongly urged to reconsider
Commerce in Zambia successfully hosted a Cyber
the Bill's provisions with regards to legal search
Security and Cyber Crime Bill Symposium. The
and seizure of cyberspaces.
symposium
was
focused
Security and Cyber Crime Bill.
around
the
Cyber
AMCHAM QUARTERLY
PAGE 4
SOUTHERN AFRICA TRADE & INVESTMENT HUB WEBINAR
MEMBER ACTIVITIES BRIEF PRUDENTIAL DONATION OF DELIVERY BED: In the spirit of Women's month, Prudential Zambia donated a delivery bed to Sikanze Police Hospital, during the Police Open Day under the theme "Enhancing Professionalism And Accountability To Provide A Safe, Secure And Peaceful Environment To All". It is believed that the donation will be of benefit to many women, families, and mothers.
The Chamber was pleased to be a part of the webinar hosted by USAID Southern Africa Trade and Investment Hub in collaboration with Albert LLC,
where
the
two
organisations
shared
information on supporting firms for listing on Amazon.com platform.
RELEASE OF THE AMCHAM POLICY REVIEW DONATION
TO
CHIMBOKAILA
celebration
of
women’s
day,
PRISON:
In
Prudential
remembered the inmates at Chimbokaila Women's Prison in Kamwala and donated much-needed hygiene packs to 86 inmates and more to the police officers present.
AmCham's Policy Review takes you on a journey, through the various policies that affect businesses and their operations, directly and indirectly, that were passed in the year 2020. The document and
MEDLAND PRUDENTIAL PARTNERSHIP: On the
introductions made through acts of parliament,
26th of March 2021, Prudential Life Assurance
bills and statutory instruments. The Policy Review
Zambia and Medland Hospital launched their
goes further to assess the macroeconomic impact
official partnership. The partnership is a new
of the Covid-19 pandemic, and also provides 2021
initiative of Prudential and Medland responding to
Economic Outlook Policy prescriptions.
the community's need for access to specialized
summarises
the
various
policy
changes
medical services under a comprehensive health plan for individuals.
AMCHAM QUARTERLY
PAGE 5
PRU WEBINAR: Moderated by Yowela Chomba of Spring TV, Prudential hosted a live webinar on how people
can
take
advantage
of
HIGH FLY TOURS
investment
opportunities even amidst the pandemic. Their Webinar Speakers included; Matepa Chingambu- Portfolio Investment Manager at Prudential. Leena
Kohli
–
Chief
Commercial
Officer
at
Prudential. Mafipe
Chunga-
AMCHAM
Board
secretary
American Chamber of Commerce and Associate Director, Advisory KMPG. Prudential apprecates the Chamber for their support.
SOUTHERN SUN HOTEL
Avani Victoria Falls Resort will be running an Easter Special with High Fly Tours. The offer is from ZMW 2900 per room per night. The package Southern Sun Ridgeway will this Easter have a
includes accommodation, daily breakfast, ZMW
Special Easter package. A family room will be
450 resort credit per room per stay, complimentary
priced at ZMW !,950 per night. AN offer which
access to AvaniKids club, complimentary ice
includes buffet breakfast, valid from 2-5 April, 2021.
cream with every child's lunch, and kiddies movies with free popcorn.
PWC
The hotel will also hold Easter fun activities on 3rd and 4th April at Musuku restaurant from 07:00 to 13:00. An Easter egg awaits each child on arrival, ahead of a family fun-filled day. Easter brunch will be at K260 per person and K160 for children under 12 years.
AMCHAM QUARTERLY
PAGE 6
PWC ZAMBIA AND OFFICE OF THE AUDITOR GENERAL PARTNER TO BUILD CAPACITY AND SUPPORT. On 25 March 2021, PwC signed a Memorandum of Understanding (MoU) with the Government of the Republic of Zambia through the Office of the Auditor-General that will provide for capacity building and enhancement of the quality of audit engagements undertaken by the OAG. PwC is proud to have been identified as the national partner of the OAG to improve its technical capacity and delivery of audits country-wide. The MOU was signed by The Auditor General Dr. Dick
PWC
Sichembe and Mr Andrew Chibuye, PwC Country
APPROACH TO AML, IS TECHNOLOGY THE SILVER
Senior Partner.
BULLET?
ZAMBIA
WEBCAST
-
RISK-BASED
On 26 February PwC hosted a webinar, led by their Financial crime specialists, that shared insights into the use of technology and a risk-based approach in the management of anti-money laundering and countering terrorism financing risks. To access the Webinar recording or any further information, visit www.pwc.com/zm.
NEW MEMBERS
CONTACT US: www.amchamzambia.com info@amchamzambia.com
+260 975 028 026 +260 955 689 301
