ABOUT ALN
ALN is an alliance of independent top firms are committed to working together tier African law firms. It is the largest and to provide extensive coverage and on- only grouping of its kind in Africa, with the-ground experience. The network has close working relationships across its consistently been ranked Band 1 in the members and an established network of Leading Regional Law Firm Networks Best Friends across the continent. ALN’s category, by Chambers Global.
ALN IN ZAMBIA
ALN Member Firm: Musa Dudhia & Co.
Founded in 1958, Musa Dudhia & Co. is The firm’s extensive client base includes one of the oldest law firms in Zambia, public and private companies, investment offering unparalleled expertise due to and retail banks, international financial its long and established experience institutions and private equity providers. in the Zambian market. The firm is at the forefront of legal service provision International directories recognise Musa for international and major domestic Dudhia & Co. as the law firm of choice investors looking to operate in Zambia for major clients seeking skilled domestic in various sectors such as Agriculture, representation. Financial Services, Natural Resources (including Mining and Metals), Energy Chambers Global 2016 ranks Musa (including Power), Real Estate and Dudhia & Co. as a Band 1 law firm in Leisure (including Hotels and Tourism) Zambia Infrastructure, Telecommunications and Oil & Gas.
“This traditional powerhouse uses its in-depth knowledge of the regulatory environment in Zambia to maintain a leading position in financing and commercial matters, and also attracts praise from commentators for its well- respected dispute resolution practice.” – Chambers Global 2016 CONTENTS
OVERVIEW
INTRODUCTION 6
THE LEGAL SYSTEM
SOURCES OF LAW 8 THE JUDICIARY OF ZAMBIA 9 COMMERCIAL COURTS 9 ALTERNATIVE DISPUTE RESOLUTION 10
PROMOTION & REGULATION OF FOREIGN INVESTMENT
OVERVIEW 13 INVESTMENT UNDER THE ZAMBIA DEVELOPMENT AGENCY ACT 13 INCENTIVES AVAILABLE TO FOREIGN INVESTORS 14 PROTECTION FROM COMPULSORY ACQUISITION OF PROPERTY 14 FOREIGN OWNERSHIP OF LAND 14 CONVERSION AND TRANSFER POLICIES 15
TAX
INCOME TAX 17 WITHHOLDING TAX 17 PROPERTY TRANSFER TAX 17 DOUBLE TAXATION ARRANGEMENTS 17
DOING BUSINESS
BUSINESS ORGANISATIONS 19 COMPANY FORMATION & CORPORATE GOVERNANCE 20 GENERAL BUSINESS & INVESTMENT ENVIRONMENT 21 LABOUR RELATIONS 23 SPECIFIC SECTOR INVESTMENT
OVERVIEW 26 AGRICULTURE 26 BANKING AND FINANCIAL SERVICES 26 ENERGY 27 MINING 28 REAL ESTATE 30 TELECOMMUNICATIONS 30 TOURISM 31 WATER 32 CONCLUSION 32
KEY DEVELOPMENTS
ENERGY AND INFRASTRUCTURE 34 FINANCIAL SERVICES 34 NATURAL RESOURCES 34 OTHER DEVELOPMENTS 35 OVERVIEW
POPULATION 16.211 Million (2015 World Bank Data)
GDP USD 22.06 Billion (2015 World Bank Data) CAPITAL CITY Lusaka
AREA 752, 618 km2
PRESIDENT CURRENCY DRIVES ON Edgar Lungu Zambian Kwacha (ZMW) The Left
GOVERNMENT LANGUAGE TOP LEVEL DOMAIN Republic English .zm
TIMEZONE CALLING CODE GMT + 2 +260
5 INTRODUCTION
Zambia is a landlocked country in south- and free repatriation of earnings; security central Africa with an area of 290,587sq to investors with statutory rights to full mi (752, 618 sq. km) and is strategically and fair compensation; and repayments, surrounded by eight neighbouring provide a suitable environment for countries; Malawi, Zimbabwe, Tanzania, investment in the country. Zambia also Botswana, Namibia, Angola, Congo provides duty free access to regional, DR, and Mozambique. It is a sovereign, wider African and the USA markets unitary, multi-party democracy and under Southern African Development provides a market oriented liberalised Community, Common Market for Eastern economic environment. The country is and Southern Africa Agreements, the highly endowed with natural resources Africa Growth and Opportunity Act and such as copper, waters, good soils, labour, the Cotonou Agreements respectively. game and land. Furthermore, it has Its attractive sub-tropical climate and experienced continuous political stability vegetation with plenty of water and since attaining independence in 1964. electricity as well as friendly people who are mostly English speaking with high Factors such as abolition of control- literacy rates act as a bonus to both prices; interest rate; foreign exchange foreign and local investors.
6 THE LEGAL SYSTEM Zambia has a dual legal system made law is administered by special courts up of general or statutory law as called Local Courts and can be set aside well as the tribe-specific customary if such customs contradict the written laws. The general law is based on the law or offends English principles of English Common law system whilst the justice, good conscience and equity. The customary law is based on the various importance of the dual legal system is norms and cultures of the different tribes that it creates two standards of justice in Zambia. The Zambian legal system has applicable side by side with regard to the developed in such a way that customary same population.
SOURCES OF LAW
The power to make laws is vested in the Communication Technology, Capital Parliament of Zambia. The sources of law Markets, Taxation, Local Government, in Zambia include the following listed in Shipping, Competition Law and order of importance to the legal system: Intellectual Property. Common law principles are only relied upon when • The Constitution of Zambia there exists a lacuna (or gap) in the • Acts of Parliament Zambian law. • Subsidiary legislation • Judicial decisions Zambia does not have a highly developed • English Common Law, Equity and case law system; as such it is very Statutes difficult to be certain as to whether or • Customary law not there is a specific Zambian authority on a particular point. Where there is As mentioned above, the law in Zambia is no local judicial authority, the Zambian principally based on the English common courts may consider case law from other law system. The English Law (Extent of jurisdictions, including England and other Application) Act as amended by Act, No. commonwealth countries which follow 6 of 2011 sets out the extent to which the English common law like Kenya, English law is applicable to Zambia. Uganda, India and Australia. As a matter The Act provides that English principles of practice, English case law and cases of common law, equity and English from other commonwealth countries are statutes enacted before 1911 as well as the often cited in court proceedings although Supreme Court Practice Rules of England they only play a persuasive function and in force until 1999 are all applicable in are not binding on the courts. It must be Zambia provided that they are applied noted, however, that when dealing with in conformity with the Zambian written a Zambian law matter, one is advised laws. as much as possible to obtain Zambian authorities in support of the claim. With regards to commercial activities in Zambia, it is the local statutes that take priority. For instance, there are Zambian statutes governing, among other matters, Companies, Mining, Banking and Insurance Business, Agriculture, Land Law, Energy, Information and THE JUDICIARY OF ZAMBIA
Created under the Constitution of Court of Appeal. Zambia, the Judiciary consists of the Supreme Court of Zambia (the “Supreme Subject to article 128 (on the jurisdiction Court”); the Constitutional Court of of the Constitutional court), the High Zambia (the “Constitutional Court”) Court has original and unlimited which is equivalent to the Supreme jurisdiction in civil and criminal matters; Court; the Court of Appeal; the High appellate and supervisory jurisdiction, Court of Zambia (the “High Court”); as prescribed; and jurisdiction to review the Subordinate Courts; Small Claims decisions, as prescribed. The High Courts, the Local Courts; and such lower Court consists of the Commercial Court courts as may be prescribed by an Act of division, the Industrial Relations Court, Parliament. the Family Court division, the Children’s Court Division, the General Civil Registry The Supreme Court has appellate and Criminal Registry. jurisdiction to hear appeals from the Court of Appeal. It consists of 11 Judges The court structure explained above was inclusive of the chief justice and the brought into force by the Constitution deputy chief justice. of Zambia (Amendment) Act 2016. According to the amended constitution, The Constitutional Court has original the Court of Appeal, Constitutional Court, and final jurisdiction to determine all and the Family and Children’s division constitutional matters in the country of the High Court shall come into force (save for the interpretation of the Bill of progressively. Rights in part III of the Constitution which is still the preserve of the High Court). There are also various tribunals such According to the constitution, the as the Lands Tribunal, the Town and Constitutional Court is equivalent to the Country Planning Tribunal, Competition Supreme Court except that its jurisdiction and Consumer Protection Tribunal, is limited to constitutional issues and Information and Communication matters. Technology ad hoc Tribunal and the Revenue Appeals Tribunal established The Court of Appeal has jurisdiction to under various statutes to deal with hear appeals from the High Court; other specific matters and whose decisions courts, except for matters under the may or may not be subject to appeal. exclusive jurisdiction of the Constitutional Judgments of the superior courts of Court; and quasi-judicial bodies, except record (the High Court, Court of Appeal a local government elections tribunal. and the Supreme Court) are binding on Appeals from the Court of Appeal lie the subordinate courts. with the Supreme Court with leave of the
COMMERCIAL COURTS
The Commercial Court is a division of with actions arising out of commercial the High Court which is meant to deal transactions alone. Litigation in the
9 Commercial Court is optional, provided experienced in commercial law; appeals the matter is of a commercial nature. All from the Commercial Court currently lie commercial matters are registered in the with the Supreme Court. Once the Courts Commercial Registry. The Commercial provided for under the Constitution of Registry is advantageous as it is a very Zambia (Amendment) Act 2016 become quick way of dealing with commercial operational, appeals will lie with the disputes. Furthermore, the judges Court of Appeal. dealing with the matters in the Court are
ALTERNATIVE DISPUTE RESOLUTION
Arbitration enforcement. Certain foreign judgments Arbitration in Zambia is governed by are enforceable in Zambia if they the Arbitration Act No. 19 of 2000 (The originate from countries whose courts Arbitration Act) which repealed the 1933 are recognised under the FJREA; a Arbitration Act. The Act has taken a superior court of a reciprocating country number of strides towards adopting and (a commonwealth country), a superior incorporating several international legal court of any other reciprocating country instruments into its own municipal laws, which is specified in an order made under on arbitration. The Zambia Centre for section 13 of the FJREA or a subordinate Arbitration, Conciliation and Mediation is court of a reciprocating country which one of the organisations that deals with is specified in an order made under arbitration in Zambia. Zambia is also a the FJREA. Furthermore, section 3 of member state to the treaties, establishing the FJREA empowers the President to international bodies and forums that deal declare a country to be a reciprocating with Alternative Dispute Resolution. One country where the President is satisfied such body in which Zambia is a member that that country has made or will make state is the International Centre for the provisions for the enforcement in that Settlement of Investment Disputes. country of judgments given by superior courts in Zambia. The Act currently Mediation recognises the Gilbert and Ellice Islands, In Zambia, parties, or the court in certain and the British Solomon Islands as the instances, may submit a dispute to two reciprocating states. For a foreign mediation. Mediation in Zambia involves judgment to be recognised by the a third neutral party, whether one person Zambian courts under the FJREA, it or more, who acts as a facilitator to assist has to be registered in the High Court in resolving a dispute between two or of Zambia upon the making of an more parties. The mediator assists the application to that effect. Section 4 of the disputing parties in communicating their FJREA sets out elaborate rules detailing positions and exploring possible solutions the application for registration, which or settlements. should be done within six (6) years from the date of the judgment save where the Enforcement of Foreign Judgments judgment is subject to appeal in which It is possible to enforce some foreign case the six (6) year period runs from the judgments in Zambia. The Foreign date of the determination of the appeal. Judgments (Reciprocal Enforcement) Act, Chapter 76 of the Laws of Even after registration of a judgment, Zambia (FJREA) provides for such such registration can be set-aside on
10 various grounds set out in Section 7 of court were in contravention of the the FJREA. However, there are certain rules of natural justice; instances when the Zambian courts will • where the judgment was obtained by not consider a matter adjudicated upon fraud; or in a foreign judgment as conclusive. • where the judgment sustains a claim founded on a breach of any law in These instances include: force in Zambia. • where a foreign court lacked jurisdiction to adjudicate on the It must be noted that aside from the matter the subject of its judgment; states recognised under the FJEA, it • where the merits of the case were not is not possible to enforce a foreign considered by the foreign court; judgment without commencing a fresh • where the proceedings in the foreign action.
11 PROMOTION & REGULATION OF FOREIGN INVESTMENT OVERVIEW
Zambia has now opened the doors for economic Zones have been established foreign investment both in terms of and applications for zoning are being foreign direct investment and portfolio encouraged. Zambia also has numerous investment. In line with the economic opportunities for investment in the agro- reforms, Zambia is encouraging private industry (horticulture and floriculture, investment in all major productive tobacco-processing, cotton-ginning, sectors including agriculture, mining, crop production for the processing telecommunications, manufacturing, industries); in industry (consumer goods); tourism and energy. It has introduced in tourism (holiday accommodation, new economic policy measures, managed safaris, licensed hunting safaris liberalised open market trade and and organised holidays) and energy and investment conditions. Multi facility mining.
INVESTMENT UNDER THE ZAMBIA DEVELOPMENT AGENCY ACT
In a bid to encourage investment in as, promotes greenfield investments Zambia, Parliament has enacted a through joint ventures and partnerships number of statutes that are meant to between local and foreign investors. The facilitate and promote investment within Agency also ensures that the private the Zambian economy. The primary sector takes advantage of the benefits legislation for investment in Zambia is the from international and regional trade Zambia Development Agency Act, No. 11 agreements. of 2006 (ZDA Act). There is a requirement under the ZDA The ZDA Act provides for the Act for any person wishing to develop establishment of the Zambia premises as a multi-facility economic Development Agency (the Agency). zone, export prescribed goods and The Agency is pivotal to the economy services, invest in any business enterprise, in that it functions to foster economic register a micro or small business growth and development by promoting enterprise, education enterprise, skills trade and investment in Zambia, through training enterprise or rural business an efficient, effective and coordinated enterprise, or operate a business private sector. The ZDA Act also aims enterprise in a multi-facility economic at streamlining bureaucratic procedures zone, to apply in the prescribed manner, and requirements faced by investors. to the Agency for approval of such It facilitates industrial infrastructure undertaking either by way of licence, development and local services as well permit or certificate of registration.
13 INCENTIVES AVAILABLE TO FOREIGN INVESTORS
In a bid to promote investment in taxation; an investor who invests not less Zambia, the ZDA Act provides for a than USD 500,000 or the equivalent in number of substantial incentives available convertible currency, in a priority sector to both local and foreign investors. These or product, is entitled to incentives as incentives are valid for a period of five specified by or under the Income Tax Act, years from the time the licence or permit Cap. 323 or the Customs and Excise Act, is granted by the Agency. The first form Cap. 322. of incentive given under the Act involves
PROTECTION FROM COMPULSORY ACQUISITION OF PROPERTY
The ZDA Act also contains provisions compensation for such acquisition is which seek to not only promote foreign made to the investor. investment, but also protect investors. This is especially true in matters involving This compensation must be made an investor’s property. The Act states promptly at the market value and shall that an investor’s interest in or right be fully transferable at the applicable over property will not be compulsorily exchange rate in the currency in which acquired. However, in instances where the investment was originally made, there is a public purpose related to the without deductions for taxes, levies and acquisition, compulsory acquisition may other duties, except where those are due. be allowed provided that payment of
FOREIGN OWNERSHIP OF LAND
All land in Zambia vests in the President, may own land. The ZDA Act also makes absolutely for and on behalf of the provision for the ownership of land by people of Zambia. The President may investors. The Agency in consultation thus alienate land vested in him to any with the Ministry of Lands is empowered Zambian. However, the Lands Act, Cap. to assist an investor in identifying suitable 184 places a number of restrictions on land for investment, as well as assist the allocation of land to foreigners by the that investor to apply to the responsible President of the Republic. Under Section authorities for land, in accordance with 3 (3) (b) holders of investment licenses established procedures.
14 CONVERSION AND TRANSFER POLICIES
Investors are free to repatriate capital as either a resident or non-resident. investments as well as dividends, Additionally, there are no restrictions on management fees, interest, profit, non-cash transactions. Over-the-counter technical fees, and royalties subject cash conversion of the local currency, to applicable tax deductions. Foreign into foreign currency is restricted to a nationals can also transfer and/or USD 5,000 maximum per transaction per remit wages earned in Zambia without day for account holders and USD 1,000 difficulty. There is no exchange control for non-account holders. in Zambia for anyone doing business
15 TAX INCOME TAX
Income tax in Zambia is chargeable interest, royalties and rental income. pursuant to the provisions of the Income Tax Act, Cap. 323 (ITA). Personal income In general, expenses and losses of a tax is paid by people resident or deemed revenue nature, that are wholly and to be resident in Zambia. Pay As You Earn exclusively incurred for the purpose of is the method for collection of income tax the business, are allowable as deductions. from persons who are gainfully employed For other sources, to be deductible, as the employer is required to deduct expenses must have been incurred wholly the tax from the individual’s salary or and exclusively in the production of the wages and remit the same to the ZRA. In income from that source. The ITA sets addition, income tax is charged directly out the matters to be considered in the on profits made by corporate bodies determination of taxable income and also such as limited liability companies and sets out the rates of taxation. The rates trusts. Therefore, businesses are subject do not differ between resident and non- to corporate income tax on trading resident entities. The corporate income profits and other taxable income such as tax rates are currently at 35 percent.
WITHHOLDING TAX
Withholding tax is payable on dividends, interest, royalties, rent, and consultancy and management fees.
PROPERTY TRANSFER TAX
This is a type of tax imposed by virtue property transfer tax according to of the Property Transfer Tax Act, Cap. the Act is charged at 5 percent of the 340. This tax is payable on transfer realised value of the property in the case of property by the transferor of the of land and shares and 10 percent of the Property. Property is defined as land, realised value of the property in the case shares and mining rights. The rate of of mining rights.
DOUBLE TAXATION ARRANGEMENTS
Zambia has double taxation relief Romania, South Africa, Sweden, Tanzania, agreements with Canada, Denmark, Uganda, the United Kingdom, Norway, Finland, France, Germany, Holland, Zimbabwe and India. Ireland, Italy, Japan, Kenya, Mauritius,
17 DOING BUSINESS BUSINESS ORGANISATIONS
Sole Proprietorships means a company incorporated as such, A sole proprietorship is advantageous being a company satisfying Section 14 of in Zambia due to a number of reasons the Companies Act. including the fact that from a tax point of view, a sole proprietorship does not In terms of company incorporation, any pay corporate tax but rather the sole two or more persons associated for proprietor pays income tax. any purpose may form an incorporated company by subscribing their names Partnerships on an application for incorporation that The Zambian law which governs satisfies provisions of the Companies partnerships is the English Partnership Act and lodging it with the Registrar of Act of 1890 which is applicable to Zambia the Patents and Companies Registration by virtue of the English Law (Extent of Agency, together with the following Application) Act, Cap. 11. The statutory documents: law contained in the Partnerships Act has been supplemented and interpreted by • any proposed articles of the company judicial decisions and general principles • a statutory declaration of common law. The Companies Act of • a signed consent from each person Zambia prohibits the formation of an named in the application as a director association or partnership consisting or secretary of the company of 20 or more persons where such • a declaration of guarantee by each association or partnership is not a body subscriber, if the company is to be corporate. This provision however does limited guarantee not apply to a partnership formed for the purpose of carrying on a prescribed profession or calling. Cooperative Societies A cooperative society is a form of Companies business association which is usually Companies in Zambia are mainly undertaken by communities trying to regulated under the Companies Act, achieve social, economic and cultural Cap. 388. Public companies are also needs, while members maintain regulated under the Securities Act. There democratic control. The Cooperative are various types of companies that can Societies Act, Cap. 397 is the primary be formed in Zambia; this includes a legislation governing cooperative company limited by shares, a company societies in Zambia. The Act does not set limited by guarantee and an unlimited out what type of cooperative society can company. In practice, however, unlimited be registered under it. The Act however, companies are rarely formed in Zambia. gives the impression that only one type Furthermore, a company in Zambia of cooperative could be formed under can be classified either as a private the Act, namely; a private cooperative company or a public company. A “private limited. The cooperatives may be limited company” means a private company by shares. A cooperative limited by limited by shares, a company limited shares is one which the liability of the by guarantee or an unlimited company. members (shareholders) is limited to the On the other hand, a “public company” amount unpaid for the shares.
19 COMPANY FORMATION & CORPORATE GOVERNANCE
Company Law The principal statute dealing with company or a subsidiary which unlike a company law is the Companies Act. branch will be a separate legal entity from The Companies Act sets out provisions its holding company. Generally speaking, dealing with all aspects of company law both private and public companies are including the incorporation of companies required to satisfy minimum capital generally, share capital provisions, requirements. Private companies are shareholders rights, offers to the public, required to have a minimum of USD the management and administration of 990 (ZMW 10,000) for companies companies, accounts, directors duties, already registered and USD 1485 (ZMW consequences of winding up and the 15 000) for new registrations as their regulation of foreign companies based in capital and this requirement is deemed Zambia. A company incorporated outside to have been met upon a director of the Zambia which has established a place company lodging a signed declaration of business in Zambia must apply to be to the Registrar of Companies (that registered as a foreign company pursuant this statutory requirement had been to the Companies Act. met). In the case of public companies, the nominal value of the company’s A foreign investor can set up a place allotted share capital is required to be of business in Zambia by setting up not less than the authorised minimum a branch or the incorporation of a that is USD 148,521 (ZMW 1 500,000) on company. For purposes of corporate incorporation. Public companies already taxation, a company is deemed to be incorporated must have a minimum of a resident in Zambia if the company is USD 99,000 (ZMW 1 000 000) as their incorporated in Zambia; or the central nominal capital. A company can increase management and control of the company or reduce its share capital if authorised during a particular fiscal year was by its articles. conducted in Zambia.
Sourcing of Capital for a limited liability Further, where a non-resident company company has a permanent establishment in Zambia A company can source for capital either (e.g. a branch or a project office) it will through issuing shares or through debt be taxed on the same rate as resident financing. Share capital is obtained by companies. Therefore, corporate income the company through issuing shares tax is at a rate of 35 percent generally, and receiving payment for those shares. for both resident and non-resident Public companies are authorised to raise companies. It is however worth noting capital from the public if they are listed that companies involved in farming pay on the stock market whereas private tax at a rate of 10 percent while mining companies can only raise capital from companies are taxed at a rate of 35 the public with sanction from the court. percent. The Companies Act (Amendment) Act, Cap. 388 in section 208 stipulates Incorporating a company residential requirements for directors; the The alternative to setting up a branch Act provides that half of the directors in Zambia is to set up an independent
20 should be resident in Zambia including management of a company is generally a managing director and an executive delegated to the board of directors of director (if the company has one). a company, conduct of the members (shareholders) relationship inter se is Protection of minority stakeholders governed by provisions of the Companies Zambian company law has in place Act and more particularly the articles of mechanisms to protect minority association of a company. Both case law shareholders from being defrauded or and statutory provisions reinforce the oppressed by the majority/controlling rights of minority shareholders. shareholders. While the day to day
GENERAL BUSINESS & INVESTMENT ENVIRONMENT
Business Regulatory Act No. 3 of 2014 Taxpayer Personal Identification Number The Business Regulatory Act was (TPIN) certificate passed to compliment laws that A company is required to register with generally regulate business. Its purpose the Zambia Revenue Authority (ZRA) for is to introduce a licensing system and income tax purposes and obtain a TPIN. licensing principles that all regulatory Upon TPIN being generated by ZRA, it is regimes must adhere to. It is further presented for collection as a certificate. supposed to introduce regulatory service Various categories of businesses are centres at which all regulators are to required to register for TPIN; these have a presence or an affiliation with, include companies, partnerships, for all applications for licences, permits, individuals (Sole Proprietorships), certificates and authorisations to be non-governmental organisations, processed. Most importantly, regulators clubs, associations and other similar are required to only put in place organisations registered with the registrar regulatory regimes that fulfill legitimate of societies. regulatory purposes. VAT Registration Licencing regime Limited companies are required to A company is required to register with apply for VAT registration if they deal the Zambia Revenue Authority (ZRA) for in taxable goods and services and their income tax purposes and obtain a TPIN. taxable turnover exceeds the registration Upon a TPIN being generated by ZRA, it threshold of USD 79,208 (ZMW 800,000) is presented for collection as a certificate. per annum. This application can only be Various categories of businesses are done following the TPIN registration. required to register for TPIN; these The application is done through the include companies, partnerships, filling in of VAT Form 1 which should be individuals (sole proprietorships), accompanied by the TPIN, a sketch map non-governmental organisations, of location, the latest bank statement, clubs, associations and other similar a copy of the business plan, a certified organisations registered with the registrar copy of the certificate of registration or of societies. incorporation and evidence of records such as the cashbook, purchases
21 daybook, sales daybook, invoice books Currency & Exchange Rates etc. VAT registration like any other Zambia operates a floating exchange rate under ZRA is free. A VAT number can be against foreign currencies. Therefore, the allocated within 7 working days. exchange rate between the ZMW and other countries is determined by market Trading & Manufacturing Licences forces, subject of course to interventions A company undertaking any trade from time to time by the Bank of Zambia is required to obtain a certificate of (BOZ). BOZ and commercial banks business registration from the local usually publish on a daily basis the selling authority in the area the company and buying prices for various leading conducts business. Then, a company currencies. conducting manufacturing is required to obtain a manufacturing licence under the Competition Customs and Excise Act. Zambia’s competition law is governed by the Competition and Consumer Environmental Impact Assessments Protection Act, No. 24 of 2010 Generally speaking, environmental issues (Competition Act). The scope of the are governed by the Environmental Act is wide and as such applies to all Management Act, No. 12 of 2011. This Act economic activity within Zambia. It provides for various matters including binds the state in so far as an enterprise the granting of licences for the discharge owned by the state engages in trade or of effluent, emissions and for the business for the production, supply, or operation of waste disposal sites/plants. distribution of goods or the provision of Furthermore, the Environmental Impact any service within a market that is open Assessment Regulations pursuant to this to participation by other enterprises. Act impose an obligation on any person intending to implement any project, to The Competition Act is basically intended prepare and submit a Project Brief to to ensure fair trade competition and free the Zambia Environment Management flow of truthful information in the market Agency (ZEMA) for approval. ZEMA place. The Competition Act forbids may on receipt of a Project Brief direct any agreement which has as its object that an Environmental Impact Statement or effect, the prevention, restriction should be prepared by the developer or distortion of competition to an if ZEMA determines that the project is appreciable extent. Also, an agreement likely to have an adverse impact on the between enterprises is prohibited if the environment. Such a statement would commission determines the agreement be required, even if the developer is has the effect of preventing, distorting or undertaking any project as part of a restricting competition or substantially previously approved project. lessening competition in a market for any goods or services in Zambia. Other Licences The Competition Act also regulates Depending on the particular commercial mergers (occurring in Zambia and activity a company is engaged in, there outside Zambia) by requiring approval may be other industry-specific licences, to be obtained for mergers classified as approvals or permits that the company notifiable mergers. would be required to obtain. For instance, in sectors such as telecommunications and energy.
22 LABOUR RELATIONS
Labour Supply employer is proscribed from exceeding. Zambia is estimated to have a population The Employment Act (in section 15A) of about 16.21 million people and the provides that unless the parties to the majority of the population constitutes employment contract have agreed persons of an employable age. Although otherwise, every female employee who the labour supply is high in Zambia, the has completed at least two years of demand does not match the supply, continuous service with her employer as is indicated by the high levels of from the date of first engagement or unemployment. Primary schooling is free since the last maternity leave taken, as while tertiary education in government the case may be, shall, on production institutions is heavily subsidised by the of a medical certificate as to her Government. pregnancy signed by a registered medical practitioner, be entitled to maternity Labour Laws leave of twelve weeks with full pay. The Employment Act, as amended by Act Maternity leave does not serve to forfeit No. 15 of 2015 (Employment Act). any other leave such as annual leave, The Employment Act principally makes which such an employee may be entitled provision for the employment of persons; to. for the engagement of persons on contracts of service; for the form of and The Employment Act offers protection enforcement of contracts of service; for employees in the case of redundancy. for the appointment of officers of the The employer is allowed to terminate labour department and for the conferring the contract of service on grounds of powers on such officers and upon of redundancy in instances where he medical officers; for the protection of ceases to carry on business by virtue wages of employees; for the control of which the employee is employed, or of employment agencies; and for any he ceases, or reduces the requirement matters incidental thereto. for the employees to carry out work of a particular kind, in the place where the Section 12 of the Employment Act employee was engaged and the business prescribes a minimum contractual age; remains a viable going concern. The Act the employment of any person below requires that the employer fulfils certain the age of 15 is therefore an offence. conditions before he can terminate This provision excludes contracts of a contract of service on grounds of apprenticeship entered into with minors redundancy. Some of these conditions that are approved by the Controller in include notifying the employee’s trade accordance with the Apprenticeship Act, union. Cap. 275. Unlike the Employment Act, a minor under the former Act is any person Interestingly, the provisions relating below the age of 21. to redundancy are only to be found in Part IV of the Act. This part of the Act Section 45 of the Act provides for is only applicable to oral contracts and authorised deductions; therefore it is as such there are no provisions relating permissible for the employer to make to redundancy applicable to written deductions from the employee’s salary contracts of service. The Zambian of a specific nature. There is no threshold Supreme Court has pronounced its stated in the Act above which the stance on the issue and as such, “the
23 Employment Act does not provide working in, within 4 days of the dismissal. for redundancy procedures in relation The Employment Act further provides to written contracts of service. that where an employee is summarily Consequently, where a written contract dismissed, he shall be paid on dismissal of service is to be terminated on grounds the wages and other working or other of redundancy, the parties are to rely allowances due to him up to the date of on either the provisions relating to such dismissal. It is also worth noting that redundancy procedures to be found in a an employer is not allowed to terminate Collective Agreement or in the contract the service of an employee on grounds of employment itself.” related to his conduct or performance without affording him an opportunity to Under the Employment Act, an be heard on the charges laid against him. employee’s contract of employment can also come to an end upon summary Immigration dismissal. In relation to both oral and Immigration is governed by the written contracts of service, the Act Immigration and Deportation Act, No. 18 makes provision for summary dismissal. of 2010. It is an Act that regulates the law However, where the termination of relating to immigration and immigration the contract is at the instance of the control. It regulates the entry, exit and employer (for example by way of remaining within Zambia of immigrants summary dismissal or termination by and visitors. It also deals with the notice), the Employment Act places issuance and revocation of residence an obligation on the employer to give permits, to applicants who meet the laid a valid reason for such termination. A out criteria as prescribed by the Act. reason is only considered valid if it relates to conduct, capacity or based It is significant to note that under the on the operational requirements of the ZDA Act, any foreign investor who undertaking. invests a minimum of USD 250, 000 or its equivalent and employs a minimum of As regards oral contracts, Part IV of the 200 employees (of certain technical or Act provides that wherever an employer managerial levels) is entitled to a self- dismisses an employee summarily and employment permit or resident permit. without due notice or payment of wages The ZDA further assists the qualifying in lieu of notice, such an employer investor to obtain work permits for up has to deliver a written report of the to 5 expatriate employers. An entry circumstances leading to and the reasons permit holder can apply to be granted for such dismissal to a labour officer a dependant’s pass for each of his within the District the employer was dependants.
24 SPECIFIC SECTOR INVESTMENT OVERVIEW
The Government actively supports, and legal requirements have been facilitates and rewards new companies reduced to an absolute minimum. in all sectors of enterprise. This support Streamlined processing of paperwork is equally available to indigenous and and rapid decisions, guided by the foreign-based companies without any Agency, greatly facilitate all aspects of discrimination whatsoever against importation of equipment and export offshore companies. Large and small of products. Prime growth sectors enterprises are equally welcome. The for investment are manufacturing, ZDA Act guarantees foreign investment agriculture and agro-processing, tourism against compulsory acquisition or and mining. Others offering potential nationalization without compensation. investment opportunities include: Time-wasting procedures that may construction, transportation, energy, confront foreign investors elsewhere telecommunications and IT services. have been greatly eliminated in Zambia
AGRICULTURE
In the Fifth National Development Plan, private sector participation in agricultural agriculture remains the key priority service delivery, such as input supply, in the growth and poverty reduction output marketing and agro-processing. programme of Zambia. The Government Ownership of agricultural land will has been implementing institutional depend on the particular land registration reforms aimed at liberalising the regime. agricultural markets and encouraging the private sector to take the lead Ownership of land and dealings in in agricultural sector development. agricultural land are restricted. As Under these institutional reforms, the discussed above, the Lands Act prohibits Government’s focus is on providing public ownership of land by a foreigner unless goods that are needed for efficient sector the foreigner falls within the listed growth, such as rural infrastructure, exceptions outlined in the Act. One such research, extension and pest and disease exception relates to foreign investors. control. Agri-business is also being Basically, it allows a foreigner to own land encouraged to strengthen linkages with if such foreigner is an investor. smallholder farmers through increased
BANKING AND FINANCIAL SERVICES
The banking industry is governed by the by the Bank of Zambia. There are several Banking and Financial Services Act, Cap. commercial banks in Zambia and other 387 and the Bank of Zambia Act, Cap. non-bank financial institutions like 360. The banking industry is regulated building societies. However, the banking
26 industry is dominated by four (4) major No. 27 of 1997. Assets located in Zambia banks being Zambia National Commercial are required to be insured with insurers Bank Limited (a local bank which is a registered in Zambia although the law listed company), Barclays Bank Zambia allows for reinsurance. Limited and Standard Chartered Bank Zambia Limited- which are subsidiaries Other Financial Sectors of Barclays Bank Plc. and Standard Zambia has a few investment banks Chartered Bank Plc. Respectively- and which are licensed and regulated by the Stanbic Bank Zambia Limited. A few Securities and Exchange Commission international banks have established (SEC). An example of an investment bank branches and subsidiaries in Zambia and operating in Zambia is the Bank of China. the last few years have seen a growth in banks including First National Bank The Capital Markets Zambia Limited and Bank ABC which is The primary legislation dealing with a part of the Atlas Mara. Zambia also has capital markets is the Securities Act, various Micro-finance institutions. Chapter 354 of the Laws of Zambia. The SEC is established under the Securities Opening and Operating Bank Accounts Act. SEC licenses securities exchanges, There are no restrictions per se in dealers, investment advisers and their opening or operating a bank account in respective representatives and persons Zambia other than complying with the who are, according to the Securities Act, relevant bank’s own account opening non-bank custodians or service registrars. requirements which follow international best practices. Documents that will The Lusaka Stock Exchange (LuSE) generally be required in order to open was formed in 1993 with the help of the a bank account include incorporation World Bank and the International Finance documentation, introduction references, Corporation and is a member of the photographs of authorised signatories, African Stock Exchanges Association. a copy of the Taxpayer Personal The formation of LuSE was part of Identification Number and board the Government’s economic reform resolutions authorising the opening of programme aimed at developing the the account. financial and capital market in order to support and enhance private sector The Insurance Industry initiative. Being the umbrella under which There are approximately twenty (20) the entire securities market operates in insurance companies and three (3) Zambia, the Securities Act creates and re-insurance companies operating in defines a central market in which both Zambia. The governing statute for unlisted and listed securities can be insurance matters is the Insurance Act, traded.
ENERGY
Zambia has an abundance of energy major hydroelectric power stations. Other resources although it is currently endowments in Zambia’s energy sector experiencing an energy deficit. The include coal, woodlands and forests as most important source of energy is well as other renewable energy forms electricity, which is generated by three such as solar and wind. Zambia has
27 an estimated hydropower capacity of electricity thus allowing private sector 6,000MW, of which only about 1,640 MW entry. Potential opportunities identified has so far been installed. This represents are Kafue Gorge Lower Hydroelectric only 30 percent of the total capacity. Project, Itezhi-tezhi Hydroelectric Hydroelectric plants account for 92 Project, Zambia-Tanzania Interconnector percent of the total installed capacity and Zambia-Namibia Interconnector. and 99 percent of the total electricity Exploration potential for hydrocarbons generated in the country. So far there are (oil and gas) is one area that has not only two important inter-connectors to been fully tapped - hydrocarbon source Zimbabwe and the Democratic Republic rocks are proven and are preserved in all of Congo which are the key electricity basinal areas of Zambia. The Government export grids. With the liberalisation welcomes active participation from of the economy, the Government has prospective investors with modern amended legislation affecting generation, technological expertise. transmission, distribution and supply of
MINING
Zambia has enormous reserves of Mining Rights and Licences copper-cobalt ore and the country is There is a strict requirement that a the fourth largest producer of copper person shall not explore for minerals metal. Gold, nickel, lead-zinc, iron or carry on mining operations, mineral and manganese are also mined. In processing operations or gold panning addition, Zambia is endowed with without obtaining a licence under high quality gemstones - emerald, the Mines Act or an environmental amethyst, aquamarine, rubies, garnets impact assessment from the Zambia and diamonds - which are still largely Environmental Management Agency unexploited. With the privatisation of the (“ZEMA”).Two kinds of mining rights mining sector, potential opportunities may be granted under the Mines Act: an have become very attractive. exploration licence and a mining licence. Further, five kinds of non-mining rights Mining Legislation may be granted in Zambia: a mineral The primary law governing the mining processing licence; mineral trading sector in Zambia is the Mines and permit; mineral import permit; mineral Minerals Development Act, No. 11 of 2015 export permit; and a gold panning (Mines Act). The Mines Act provides certificate. for mining rights, mining licences, large scale mining in Zambia, gemstone In the case of a company, mining rights mining, safety, health and environmental cannot be granted to a company which: protection, geological services and analysis, royalties and charges as well a. is in liquidation, other than liquidation as administration of the mining sector which forms part of a scheme for in Zambia. All rights of ownership in, the reconstruction of the company searching for, mining and disposing of, or for its amalgamation with another minerals in Zambia are vested in the company; President on behalf of the Republic. b. is not incorporated under the Companies Act; or
28 c. has not established an office in possible. Additionally, a licence or right Zambia. holder is expected to give preference in employment to citizens of Zambia to the Applications for an Artisanal mining maximum extent possible. Programmes licence shall only be made by a citizen must also be conducted for the transfer or a co-operative wholly composed of of technical and managerial skills to citizens. Small-scale mining licences Zambians. can only be issued to a citizen owned, citizen-influenced or citizen-empowered Royalties on Mineral Production company. A citizen owned company is There is a requirement for licence holders defined as a company where at least to pay royalties under the Mines Act. It fifty point one percent of its equity states that a holder of a mining licence is owned by citizens and in which must pay a mineral royalty. There is citizens have significant control of the also a requirement for persons who management of the company; a citizen- hold licences under the Mines Act to influenced company, on the other hand, pay annual charges to the Government. is a company where five to twenty-five The amount varies and is calculated percent of its equity is owned by citizens in a manner prescribed by a statutory and in which citizens have significant instrument issued by the Minister of control of the management of the Mines. company; and a citizen-empowered company is a company where twenty-five Duration and Tenure to fifty percent of its equity is owned by Large-scale and small-scale mining citizens. licences are granted for a term not exceeding twenty-five years and ten An applicant for an artisanal mining years respectively, and are renewable licence or small-scale mining licence for further terms. Further, a mining shall not be granted a mining licence in licence shall be granted for a period not respect of radioactive metals. A citizen or exceeding 2 years for artisan mining. a cooperative consisting only of citizens may apply to the Director of Mines for a Tax Stability Agreements gold panning certificate. Prior to the commencement of the Mines Act, investors were able to enter A prospecting permit, small-scale mining into development agreements with the licence, small-scale gemstone licence Government under which concessions and an artisan’s mining right cannot be were provided for generally, in the form granted to a person who is not a citizen of suspension or reduction of all main of Zambia or a company which is not- taxes and tax stability periods. citizen-owned. Following the enactment of the Preference for Zambian Products mining act, however, the development The Mines Act offers preferential agreements were outlawed and the treatment to Zambian products, Minister of Mines could no longer enter materials and service agencies owned into any agreement relating to the grant by Zambian citizens in the conduct of a large scale mining licence or any of operations under mining rights or other mining right. Furthermore, the mineral processing licences, and in the Mines Act now provides that existing purchase, construction and installation development agreements ceased to bind of facilities, to the maximum extent the Republic.
29 REAL ESTATE
There is currently a property boom in Lands where documents are available for Zambia. More people are looking to public viewing. Zambia deeds registration buy or rent property and the demand systems are continually improved with for apartments and houses has grown investment in technology, an exceptional exponentially. degree of accuracy and security of tenure being guaranteed. Property can be The system of land registration to which owned individually, jointly in both divided Zambia adheres, reflects every piece and undivided shares, or by an entity of land on a diagram (called a survey such as a company, close corporation or diagram) and the ownership recorded trust or similar entity registered outside in the Deeds Registry at the Ministry of Zambia.
TELECOMMUNICATIONS
There have been major developments former segments of telecommunications, in the ICT sector in Zambia. The information and information technology. number of subscribers for mobile The mentioned segments have now telephones has increased remarkably. become one in terms of both the The number of internet service delivery of infrastructure and consumer providers has also greatly increased. gadgets. ZICTA mainly regulates the However, the telecommunications sector provision of electronic communication has potential for more growth. The services and products and monitors the telecommunications sector in Zambia performance of the sector, including the falls under the Ministry of Information levels of investment and the availability, and Communications. The sector is quality, cost and standards of the primarily governed by the Information electronic communication services. One and Communications Technologies Act, important aspect of the ICT Act is that No. 15 of 2009 (ICT Act). The ICT Act in exercising the powers conferred upon is basically intended to regulate the it under the ICT Act, ZICTA is required provision of telecommunication services to have regard to the provisions of to, from and within Zambia through the the International Telecommunications Zambia Information and Communications Convention signed in November, 1982, or Technology Authority (ZICTA), formerly any other convention on, or relating to, called the Communications Authority. telecommunication, to which Zambia is a ZICTA is a body corporate with a party. common seal and capable of suing and being sued. The Act is intended to Licences provide for the regulation of information ZICTA is empowered to issue a network and communication technology. It also licence, to allow the holder to construct, facilitates the access to information own or make available an electronic and communication technologies. The communications network, or to provide a ICT Act further protects the rights network service; and a service licence, to and interest of service providers and allow the holder thereof to provide one or consumers. The ICT Act merges the more electronic communications services.
30 Pursuant to the ICT Act, any person safe, secure and effective environment may apply for a telecommunications for consumers, the business sector licence, whether that licence is a service and the Government to conduct and licence or a supplier’s licence. There use electronic communications. More are two classes of licences that can be importantly, the ECT Act creates legal issued by ZICTA: an individual licence certainty and confidence, and encourages and a class licence. The transfer of a investment and innovation, in the licence by a licensee is allowed as long electronic communications industry as ZICTA’s consent is obtained. In 2010, by placing a number of legal rules and an amendment to the ICT Act was made requirements that must be met in matters with regards to tariffs for services offered that relate to electronic communications by the licensee holding a dominant and transactions. It also facilitates the position in the sector. Basically, the ICT creation of secure communication Act states that a licensee that holds a systems and networks and establishment dominant position in a retail electronic of the Central Monitoring and communications market must submit Coordination Centre (CMCC). to ZICTA in the prescribed manner and form, the tariffs the licensee intends to New Services by Mobile Phone Providers charge, including the justification for such Mobile phone providers are rolling out prices, prior to the introduction of the other services besides the provision of tariffs. ZICTA is then required to approve telephone services in order to attract and or reject such an application within 14 retain their customers. Most notable is days of the receipt of the application. the provision of mobile banking; where a customer is able to use his SIM card to send and receive money instantly. Recent Changes in Telecommunications The mobile phone companies have also Laws linked the service to some automated teller machines thereby allowing the Electronic Communication and mobile users to easily withdraw funds. Transaction Act, No. 21 of 2009 (ECT So popular is the service that some Act) organisations are even using it to pay The Zambian legislature in 2009 enacted utility bills as well as school fees. the ECT Act in order to develop a
TOURISM
The tourism sector is one of the most Wildlife such as elephants, leopards, thriving and vibrant sectors in the lions, cheetahs, rhinoceroses, zebras, country. Zambia’s potential as a one-stop giraffes, hippopotamuses, crocodiles, destination offers excellent prospects buffaloes, impalas, antelopes, baboons for advancement of this highly under- and a host of smaller creatures as developed sector. With 19 national parks, well as over 700 species of birds can 23 game management areas, the largest be seen. Opportunities to promote water-fall in the world, and 23 million adventure holidays, white-water rafting, hectares devoted to the conservation canoeing, rock-climbing, hand-gliding, of a spectacular variety of animals, the fishing, bungee jumping at Victoria Falls scope for an integrated quality tourism including its unique walking safaris offer related investment is very attractive. excellent tourism potential.
31 Tourism Act in the tourism industry; the control and The tourism industry in Zambia is regulation of hotels and the enforcement regulated by the Tourism and Hospitality of reasonable standards of cleanliness, Act, No.13 of 2015 of the laws of Zambia sanitation and service; the authorisation (Tourism and Hospitality Act). The and licensing of tourism enterprises and Tourism and Hospitality Act is intended the constitution of the hotel managers to provide for the development of the registration council. tourism industry; incentives for investors
WATER
The major enactment relating to and preservation and protection of potential governing the usage and maintenance and already existing sources of fresh of water is the Water Resources water and the environment in general. Management Act, No. 12 of 2011. The Authority also issues water permits Through this Act, the Water Resources allowing holders some rights including Management Authority was established. extraction of water from public water Its functions include the identification, bodies.
CONCLUSION
Zambia has in the recent past climate, both in the country and in experienced a hike in investment the region. The law has consequently opportunities, which has led to the undergone a lot of change and keeping need for adequate legal provisions and abreast with these changes is a necessity safeguards, now more than ever. The for any person wishing to enjoy the legislature has reacted to this and as such full benefits of the investment ‘boom’, enacted laws, which suit the investment currently being experienced in Zambia.
32 KEY DEVELOPMENTS ENERGY AND INFRASTRUCTURE
Power cuts affect mines
Power cuts in Zambia, Africa’s second- electricity in bulk and supplies it to mines biggest copper producer, affected in the mineral-rich Copperbelt Province, production at copper mines run by First was also affected. According to the Quantum Minerals and Barrick Gold, World Bank, Zambia is facing its toughest among others. Zambian power utility economic challenge in a decade. The ZESCO Ltd, was forced to limit its power ongoing domestic electricity crisis is supply to customers, including mining adding more pressure to the country’s companies, after water levels at its hydro- economy, which has already been electric plants dropped due to drought. negatively impacted by weak copper Copperbelt Energy Corp, which buys prices and a slowdown in China.
FINANCIAL SERVICES
Atlas Mara acquires Finance Bank of Zambia
Atlas Mara struck a cash and shares deal of Zambia was Zambia’s sixth-largest to acquire Finance Bank of Zambia (FBZ) bank, with around USD 261 million in PLC, in 2015. Atlas Mara is a financial assets on its books at the end of June services holding company, formed to 2015. It had 63 branches and more than undertake the acquisition of target banks 800 employees. The deal resulted in the in Africa with the objective of becoming creation of Zambia’s largest bank by a leading financial services group on the branch network and 5th largest bank by continent. It was co-founded by Ashish assets with combined assets of about J. Thakkar and former Barclays PLC chief USD 418 million. executive Bob Diamond. Finance Bank
NATURAL RESOURCES
Zambia simplifies VAT law in a bid to resolve row with mining companies
In February 2015, Zambia relaxed the be required to prove that their export rule requiring exporters to produce proceeds had been remitted into a documents from destination countries to bank account in Zambia. However, the claim tax refunds. The Zambia Revenue mining companies and other exporters Authority will now accept transit will still be required to produce import documents from exporters claiming certificates for them to claim refunds VAT refunds and they will no longer owed prior to the amendment of the law.
34 Zambia launches digital module to monitor mineral production
The Zambian Government, early in 2016, transparency and increasing revenue launched a digital mineral production from the mining sector. It is being module aimed at improving the funded by the Zambian and Norwegian monitoring of production and compliance Governments and the Public Finance by mining companies. The reporting Management reform programme at a module, dubbed ‘Mineral Monitoring cost of USD 10.2 million and is being Framework’ is the first pilot phase of spearheaded by the country’s revenue the Mineral Value Chain Monitoring collection agency, the Zambia Revenue Project (MVCMP) aimed at enhancing Authority (ZRA).
OTHER DEVELOPMENTS
Edgar Lungu, leader of the ruling WiMAX network. It will also be the Patriotic Front, won Zambia’s first reseller of CEC Liquid Telecom’s Presidential Election that was held in ‘Fibroniks’ branded fibre-to-the-home January 2015. The election was triggered (FTTH) service, which was launched in by the death of former President Michael February 2015. Sata in October 2014. President Lungu will serve out Sata’s term until general Dangote Group, in August 2015, elections are held in 2016. inaugurated its 1.5 million metric tonnes per annum capacity cement plant CEC Liquid Telecom, in 2015, valued at USD 400 million with a 30 acquired Zambia’s second largest megawatts coal plant to power the internet service provider, Realtime factory, in Zambia. Dangote is a large Technology Alliance (Realtime). CEC Nigerian manufacturing conglomerate Liquid Telecommunications Limited with activities encompassing cement is a joint venture between The Liquid manufacturing, packing and distribution. Telecom Group and Copperbelt Energy The project was inaugurated by Zambia Corporation Plc (CEC), a Zambian power President, Edgar Lungu and was graced generation, transmission and distribution by Nigeria’s Vice President, Professor company. Realtime will now provide Yemi Osinbajo in Ndola, Zambia. The communications services to residential investment is expected to create at least and business subscribers across Zambia 1,000 direct and 6,000 indirect jobs for using Liquid Telecom’s satellite and Zambians when fully operational. fibre networks, in addition to its existing
SOURCES www.africacradle.com www.namibian.com.na www.lusakatimes.com www.bbc.com af.reuters.com www.allafrica.com
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