GIVE TAX HOLIDAYS TO SMEs, GOVT ADVISED AGRO MECHANISATION VITAL - STAKEHOLDERS

Which allows for constant dialogue between Government, investors and other key stakeholders also take actions that speak to some kind of STANCHART POSTS K255M LOSS Tuesday September, 2020 remain GOVT, MINES IN DEBT SWAP TALKS

growth trajectory. Government, he “The balance is dif- said, may have to

MAJOR stakeholders in the ficult, but we have to make decisions which

agriculture sector have called

appreciate the cir- might compromise

for adoption of value chain approach to mechanisation cumstances as that we good intentions to

By BUUMBA CHIMBULU

one of the best options towards find ourselves in. If protect lives such as

attaining high productivity on Chartered Bank we Zambia are to navigate a opening up the econ-

the continent. PLC The has stakeholders reported include a loss way experts of K255 out million of this, first omy so that tourists it did not had stopped visiting businesses BUUMBA compared in agricultural CHIMBULU to mechanisation, previous year of all profit we of should K123 have totally collapse. million. agribusiness, digital agriculture the Province and the country. able. The a post-mortem in in Mr Nkhoma, Mr Former Mulozi was speaking in GOVERNMENT and country This was mainly should needs due to con- the increase representative of global promote efficient use of input and He said the hospitality in- have operating agencies a flexible such expenses policy as the of World 10 terms per Bank, cent of on enhance how we productivity,” got to he president said. of an the interview Eco- in Mongu. dustry in Western province introducing account of expenses a tax relating hol- to personal regime Africa which Union, allows and the National where we Mr are,” Marechera he told explained nomics that Association "With the Covid-19 it means was one of the key sectors at- for protective Agriculture Small equipment Research and Medium Organization for the current farmer aggregation, clustering Enterprises constant COVID-19 (SMEs) dialogue pandemic. during (NARO) of Uganda and private of Zambia (EAZ) we do said not receive tourists any-

and training on mechanisation tached to tourism.

By BUUMBA CHIMBULU between Covid-19 sector This Government, is players. according period as to the they interim results and farming as a business, however and observed more, meaning the our economic “As the country makes for They the and noted half year that other ended smallholder June 30, this THE year Zambia Chamber of Mines need for human activities capi- have been seriously investors identification of local entrepreneurs (ZCM) and

adversely been affected strides in diversifying the posted farmers on were the key Lusaka players Securities in the Exchange Government were critical are discussing steps needed a possible to debt stakeholders, pandemic. value chain system says that could tal to an drive economic affected. economy from mining, tour- (LuSE). swap ensure where mechanisation some of the taxes makes the mining

Founder Introducing engender Company of Betternow growth a Secretary, tax and holiday sustainability Rose Kavimba, cannot af- “We would like to strong- ism has also being identified industry impact owes on the State continent. will be growth offset with going forward,

the outstanding Value Added Tax (VAT) Finance of Africa’s will Company, that agricultural protect the depreciation productivity. their ford of the at this mo- SMEs indicated He said training of tractor ly appeal to tional Government Monetary Fund as one of the key sectors with

refunds owed to the sector. post-COVID-19.

This came to light during a operators the confidence of do-

Kwacha The currency outcome of in the mechanization discussion will provide businesses Nkhoma. from also increased collaps- the ment foreign in time to through a great ZRA (IMF) to come up programme with the potential to contribute to webinar organised by African a solution service to the provision current impasses including between “To the me, to

denominated expenses. mestic investors and says Nkhoma Agricultural Western said Technology the Chamber let the economy some sort of a tax holiday for economic growth and job cre-

Government establishment and the mines. of Mechanization extent, it’s through

She said impairment on financial According to statistics from the Zambia was vital as would in- foreign investors. Foundation (AATF) and Industry recently. Model Farms (MMF) to provide the business community op- ation. dialogue Commerce instruments should increased be an- from go off the rails.

K36 million Revenue in Authority (ZRA), the mining mismanagement of troduce discipline in

AATF Business Development technology demonstration and “We may be hoping chored WCCI) June Regional on 2019 mutual to Coordinator, K434 re- million in June this year.

companies owe tax revenue in excess of erating in the region by ex- “Western Province is en- Manager, George Marechera, K19.68 capacity billion while building the Government were also the has economy. This terms of how Zambia that, if we are able to

We must also empting them from pay tax as dowed

Mulozi. and said Furthermore, understand- mechanisation was a thriving econo- prices with are vast currently natural trading re-

the expected provided an credit losses cardinal. on

outstanding VAT refunds due to the mining

at K288 managed its resourc- get back on an IMF Mulozi government opportunity regretted for securities smallholder was that farmers take actions He noted that mechanisation was companies million amounting in to K10.4 billion. majority are struggling due to sources around and US$6,707 tourist per sites tonne. which with comparison a user-friend- to K24 million in 2019. As a way of solving this problem, my the two with a prosperous businesses to evolve from subsistence in Mongu to es. not a silver bullet to the production he said. programme,

international tourists things “One the of Covid-19," the things which is quite important Mr Mateyo attracts explained that larger world

speak to some

have initiated a discussion. is on cash working capital and one way they producers in South America were going under policy business. Ms Kavimba framework explained the above were challenges facing agriculture citizenry. For the first Mr

Government Nkhoma said to visit will sites begin such as to the fall Zam- into Western Once the discussion is fruitful, Government (Government) Mr Mulozi could assist said is through the negated by province the increase as in total a revenue care and maintenance which had created a Mr Marechera said this could but growth encouraged the introduction tax regime. kind of time, we built should a mid- consider the programme giving small would bezi Sioma-Ngwezi I think,

will not have to pay cash from the treasury but outstanding VAT. place. But whole, of had only nine happen significantly per cent where mainly mechanisation been due to interest of from a mechanization system that sharp decline in plains, terms of supply to the market, allow entities to make off sets against taxes that “Not necessarily paying cash, but at the thereby triggering price increase. affected We investment was cannot by adopted the Covid-19 securities afford along the which agricultural trajectory. was driven by pan- businesses dle hospi- class, beyond which businesses deployment has even of also tractors a bring 50 to percent some came to cred- the National deployment most of importantly, tractors the they ensures might owe, smallholder says were ZCM president, in farmers the Goodwell get very least allow mines to make offsets against Copper prices are currently Park trading and around the Liuwa

Mateyo. some taxes that involved they owe ZRA if those could demic. this moment growth value chain. in balance in time sheet holding. tality optimal industry benefits Chartered from and utilising being now that the been with Best more farms Consumer exemption as or it less Digital as production, ibility it “This could pandemic to go in the agriculture. a US$6,707 caused Gov- Plain per a shift tonne. economy National in the Park has among lacked

“Mechanisation Mr mechanization. Mateyo said once Bank fruitful, in Zambia this would by Global harvesting, be Finance clawed out Awards,” post-harvest of the VAT refunds. handling, normal way of He working therefore “Copper and price called as has a bank, for improved a critical but the macro- This is an the “The economy Bank has continued brings go about to enhance explained that most reduces the around the world are still uncertain, include effect all businesses of owed the VAT pandemic, depleted,” refunds by he long said. way in helping ernment, the which local was others,” diversification Mr Mulozi said. for

its increased strategic production position in and the market by on-going discussion but we wish it could be economics of sub-regional and external patterns in Government World such Bank as she Global the said. manufacturers. Lead, transportation, storage, and we have kept review our internal

resolved quicker,” Mr Mateyo said. so at the moment there has been a recovery the high rails. labor We costs, must enhances He said packaging. an Interna- championing the digital growth. He Data-Driven was speaking and recently Ms Digital Kavimba on the Stanbic said in the first half of 2020, lacking while the restoring utilisation of mechanisation many years,” to he said.

Meanwhile, Mr Mateyo said stakeholders the current including our communities at

of prices but that is predominantly because efficient “This has production been a at success low cost as can be Agriculture, Parmesh the Zambian Shah, market was impacted increase Dr Shah of noted copper by the that prices most on the African London centre Metal of see fighting what the works pandemic,” and what she can be Bank’s Anakazi Banking Online Conversations of Covid-19 situation which has hit acutely the under the topic “Impact of COVID-19 on the Exchange was temporary as the world macro borrowed. mines in South America than it has in Africa,”

seen and facilitates from the competitive recent award pricing, of Standard noted mechanisation unanticipated went COVID-19 countries global pandemic. were not at par said. when it mining industry in Zambia.” economy was still highly uncertain.

needs policies that are reflective of is currently un- folding both in the do- mestic STANDARD and the global economy as econo- are evolving.