OneKach

Great guy!

[Shen Shiwei 沈诗伟 @shen_shiwei]

It's milestone! #China has recently made significant progress in key technology for #rare earth detection and , which helps to accelerate China's transition from a major rare earth producer to a rare earth powerhouse.
Why does it matter?
China accounts roughly 70% of global rare earth mining and over 90% of the refining capacity that turns ores into usable metals.

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

No one can save UNZA, unless students change, sanitation issues will continue!

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

On my morning walk earlier today, found an abandoned 🛒, in that moment, I had two choices, leave the cart or do the right thing.

Now, because I never went to UNZA, my mind was tormented so I pushed it a mile back to the Mall and reunited it with its family 😀

#raleys #sparksnv

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

At University, passing a course took a lot, efforts were beyond just studying assigned materials, turning in assignments etc.

In most cases, you had to study each lecturer, got to know what they liked, how they wanted answers presented among other things. Each lecturer/course had unique expectations and mastering these was the difference between those who passed these classes and those who didn’t.

This approach, unfortunately, is the same even in a work environment. Each supervisor is unique with unique expectations. Just doing your job (equivalent to studying course materials) may not set you apart.

Take time to understand the expectations, what your supervisor considers important and move accordingly.

Bless//

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

I remember this one time, a young man I was mentoring failed two courses at Uni and was relegated to part time study.

According to bursary rules then, a part time student wasn’t eligible for a monthly stipend. This meant he would go an entire academic year out of pocket. Interesting enough, I later came to realize that his agony wasn’t really money, his major concern was that his friends who passed all the exams would graduate earlier than him. According to him, it was an embarrassing moment.

I tried everything I could to make him understand that in this life, there is nothing like being late, God’s timing is always perfect. He wasn’t convinced. He soldiered on and eventually graduated.

Dude got a job immediately after graduating, possibly doing far much better than his colleagues who graduated earlier. I always remember his story when I see his accomplishments on LinkedIn, it’s like he never even lost a whole academic year.

Sometimes, as humans, we need to get comfortable with adversity, it may seem painful but there is always a beautiful ending!

[Larry Madowo @LarryMadowo]

OVERNIGHT: Botswana’s new president Duma Boko sworn in and gives first speech just hours after opposition’s landslide victory.

“I dare not fail. I dare not disappoint,” the Harvard-trained lawyer said, calling his election “a humbling responsibility”

[OneKach @KachMwale]

My favorite show on #bbc, sad!

[Stephen Sackur @stephensackur]

THREAD:

1. PERSONAL NEWS:
Today BBC News has announced plans to close @BBCHARDtalk after 3 decades holding the world’s politicians and powerbrokers to account. This is sad news for me personally, but much more important, I think it’s depressing news for the BBC🧵

[Laura Miti @LauraMiti]

Zambia has never quite fully recovered from two major human capital losses:

1. The leadership & skills AIDS took from us.

2. The loss of two generations of players in the Gabon disaster.

Result - the painfully shallow pool we choose leaders from and currenChipolopolo😢

[OneKach @KachMwale]

🤣🤣🤣

[Berneese @theberneese]

@FabrizioRomano Greatest manager to ever walk on Earth.

[OneKach @KachMwale]

Congratulations bwana

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

Friends, happy to share that I accepted a Snr. Global Supply Manager role at Redwood Materials where I’ll be supporting global efforts in developing lithium battery technologies and infrastructure.

It’s been a journey of humility and unmerited favor!

🙏🔋

[OneKach @KachMwale]

Beast...

[Muzala Samukonga @MuzalaSamukonga]

ALL AFRICAN GAMES
4×400m final
2.59.12🥇
New National record🇿🇲+NEW GAMES RECORD

#MULUNGU_PASOGOLO

[Anton Gerashchenko @Gerashchenko_en]

Japan will provide $12.1 billion in aid to Ukraine — Prime Minister Fumio Kishida during a meeting with the Prime Minister of Ukraine Denys Shmyhal.

Prime Minister Fumio Kishida emphasized that Japan's position in support of Ukraine remains unwavering.

Thankful to the people and government of Japan for your support!

[Mike Posner @MikePosner]

on my 26th birthday, i wrote I Took A Pill in Ibiza…10 years ago. The song became popular several years after i wrote it. Yesterday i celebrated my 36th birthday. i feel proud to look at the song lyrics and know that NONE of them are true anymore. I’ve grown into a completely new man…one that i’m proud of. check this out… 🧵

[Dingindaba Jonah Buyoya @BuyoyaJonah]

MONETARY POLICY RATE INCREASED: WHY DOES THIS MATTER?

By Dingindaba Jonah Buyoya

The Bank of Zambia today held a briefing, announcing an increase in the Monetary Policy Rate by 150 basis points to about 12.5%. This is the highest increase experienced in the last three years.

At the top of the reasons why this has been done is the continued depreciation of the Kwacha against major currencies, resulting in the rate of inflation going further away from what the BoZ had projected. So, the objective of this action is to try and arrest the rising inflation.

As part of its job, the Bank of Zambia is on standby to take even more action if inflation keeps getting out of control as their decisions are informed by inflation and any other factors that are associated with financial stability.

This decision is yet another one that is likely to impact the quality of life, making access to finance much harder than it already is. How exactly is this the case?

Let’s start with understanding what the Monetary Policy Rate actually is. The monetary policy rate is the interest rate set by the Bank of Zambia. It affects how much it costs for banks to borrow money from BoZ and subsequently, how much it costs for you to borrow from the bank.

By changing this rate, the central bank can influence borrowing, spending, and inflation in the economy. The decision to increase the rate simply means borrowing has become more expensive, slowing down the economy.

When the Bank of Zambia increases the policy rate as they have now, commercial banks typically follow suit by raising the interest rates on loans. For borrowers with variable rate loans, such as adjustable rate mortgages or variable rate personal loans, this translates to higher monthly payments.

As a result, individuals may find themselves spending more on interest payments, which can strain their budgets and potentially lead to financial difficulties, particularly if the increase is substantial.

Granted, people with fixed-rate loans are less directly affected by immediate changes in the policy rate since their interest rates remain constant over the loan term. However, they may miss out on opportunities to refinance at lower rates if interest rates remain high for an extended period. To make this easier to understand, let’s use a practical example, as we usually do.

Today, I’m introducing us to Sammy, a civil servant living in Lusaka. Let’s say Sammy has an active loan for his car, which he obtained from ZedTwitter Bank. The loan has a variable interest rate, meaning that its interest payments can fluctuate with changes in the monetary policy rate set by BoZ.

Because of this increase in the MPR, Sammy now finds himself facing higher monthly payments for his car loan. The increase in interest rates means that he has to allocate more of his monthly income towards servicing the loan. This will probably put a strain on his budget, as he now has less disposable income to cover other expenses such as groceries, utilities, and savings.

With over 2 million loans disbursed in 2023 alone, according to the Credit Market Monitoring Reports, that should tell you that Sammy might just have several other people in his shoes.

It is important to mention that by raising the MPR, BoZ kind of aims to encourage saving, discourage borrowing, and stabilize prices, and this should in turn promote sustainable economic growth and maintain the stability of the Kwacha.

Primarily though, this specific increase is hoped to help safeguard against potential economic imbalances and mitigate risks of inflation spiralling out of control, ultimately contributing to a healthier and more stable economic environment for businesses and individuals alike.

[Hopewell Chin’ono @daddyhope]

“THE THIEVES ON OUR BUS

A Teacher received his salary and boarded a crowded bus back to his home, and there was a thief on the bus.

The thief stole the Teacher's money from his pocket.

After the teacher reached his destination, the driver asked for his fare, the Teacher put his hand into his pocket and found nothing.

The teacher blushed, and his tongue became heavy, he was so embarrassed. The Driver who is now angry said mockingly to the Teacher: "shame on you, you consider yourself a respected person while you can not afford your transport fare!."

The Teacher was again very much embarrassed.
As this was going on, pride hit a potion of the thief's ego, and he was moved to say to the angry Driver: "My brother, the teacher's fare is on me!."

That is, the thief offered to help the teacher, who is his victim. He helped not out of pity for the poor teacher but to buy other passengers' trust and confidence and to use some of the stolen money to earn respect before the rest of the passengers on the bus.

The poor Teacher who did not understand what was happening smiled and said to the thief: *"May GOD bless you and multiply your likes, sir!."*

Then some of the passengers on the bus also praised the thief, praised his kindness, and also prayed for him and *that GOD should increase his kind.*

Since then, the number of thieves on our bus have increased and they continue to receive our thanks and appreciation;

We are all on a bus where thieves are stealing from us and using the stolen money to buy our trust and earn our respect in a way that we keep thanking them for their "kindness".

This is the metaphor of the state of our nation, Zimbabwe.

The thieves on our bus are increasing all the time because we continue praising them for returning small from the lots they stole from us.”

This story serves as a powerful metaphor for the dynamics of trust and manipulation in society, particularly in the context of corruption and governance.
It shows us how the corrupt loot, plunder and then exploit our goodwill and generosity to maintain control and perpetuate their looting under the cover of their deceit.

You must remain vigilant and critical of those in power even where they appear to offer gestures of kindness through themselves or their surrogates!

Only a fool will applaud a thief who has stolen from him and society!

[Clean Kwati Bella 🔱💰 @TeamMakeSure]

“Our prime purpose in this life is to help others. And if you can’t help them, at least don’t hurt them.” —Dalai Lama

🎯

[Richardquest @richardquest]

Today Quest Means Business is 15 years! Gosh. Thank you for the lovely messages. And for being there and watching. It’s been a real privilege to be with you every evening.

[𝑻𝒉𝒆 𝑺𝒂𝒍𝒕 𝑶𝒇 𝑻𝒉𝒆 𝑬𝒂𝒓𝒕𝒉 @Shadaya_Knight]

Louis Vuitton owner Bernard Arnault now world's richest man. Amongst the many luxury brands he owns are Hennessy, Moet and Chandon, Givenchy and Christian Dior

Guess the biggest consumers? Yes you guessed right black people. Another billion dollar company built on the back of black people's materialism

Using athletes and celebrities to push this culture of opulence, finding worth in materialism

How is it that the poorest people are the ones who buy the most expensive things? Black people need to wake up

Learn OR perish!!!

[Dingindaba Jonah Buyoya @BuyoyaJonah]

ZAMBIA'S ECONOMIC PERFORMANCE: WHO HAS THE TRUE PICTURE? THE PEOPLE OR THE GOVERNMENT?

By Dingindaba Jonah Buyoya

If you were to listen to an ordinary citizen complain about the high cost of living, your least expectation would be to hear the government boast of a recovering economy.

Despite that expectation, this, in fact, turns out to be the case. On several occasions, government officials have been found counting their achievements in dealing with Zambia’s economy. On the other hand, citizens have complained about what can be called a frustrating economy.

To a certain extent and when put in a certain context, both might have a point in their own right.

Let us start with where the citizen is coming from. The microeconomic indicators have been really unfavorable for the general population. You will agree that when all is said and done, the ordinary citizen cares more about what gets into their pocket, even more so, what leaves their pocket.

As the Civil Society for Poverty Reduction Executive Director Faides Tembatemba would put it, the people really care about the food that is on their table. She bluntly says that people would much rather have food on the table than the story that they will have food one day. They need it now.

Looking back at the economic indicators over the last two years, you will notice that several of the ones that directly affect the citizens have been on a downward trend. Take the exchange rate, for example. In August 2021, a dollar would cost about 16.72 ZMW, and this was quite bad as it was. Today, the exchange rate has gone up to as much as 27.01 ZMW per dollar. The exchange rate, if we’re being honest, is as real as it gets for most Zambians.

It plays a crucial role in shaping the economic landscape for ordinary Zambians, influencing their daily lives in various ways. Fluctuations in the exchange rate can directly impact the purchasing power of the local currency, affecting the prices of imported goods and services.

For example, if the Zambian Kwacha depreciates against major foreign currencies, it may lead to higher prices for imported essentials such as fuel, food, and electronics. This, in turn, can contribute to inflationary pressures, making it more challenging for ordinary citizens to meet their basic needs.

In this context, it is undeniable that the citizen is facing a tough time. The implications of the exchange rate have been noted from the increasing cost of living over the years. The JCTR basic needs and nutrition basket for a family of 5 is now fetching 9,157 ZMW, up from 8,413 in August 2021.

For the ordinary person, the leap is quite high, given that the average income is, in fact, way below that food basket. The food basket does include the cost of mealie meal, which has almost doubled.

With all this, how is it then that the government can find it right to talk about success? What success?

Well, when put in the right context, the broader economy has, in fact, been regarded by experts as being much more controlled.

While the cost of living is going up, the government has pointed at the inflation rate, which is now at 13.2%, compared to 22.02% in 2021. Of course, the prices of commodities are higher now than they were in 2021, but it is true that they would have been much higher if the inflation rate was still at 22.02%. Remember that inflation is simply the rate at which prices are increasing. So the government argues that the commodities are increasing at a slower rate.

They [government] argue that despite considerable challenges, the Zambian economy is showing resilience driven by non-mining and non-agricultural growth. The government continues to work with its external creditors to restructure its debt. They argue that if the economy can be resilient in the absence of mining, Zambians should expect much more growth when the major mines get back on track, citing KCM and Mopani as good spots after the “newly” found investors.

At the heart of the underperforming economy is the protracted debt restructuring process which experts like Andrew Chibuye, PwC Senior Partner, say is a very complex process that needs citizens to come on board and understand that the delay is not intentional.

Further, the government points to the IMF Program performance, which partners have said has been satisfactory despite a challenging domestic and global environment. In the last review, all but one quantitative performance criteria for the second review were met, and most structural conditionality completed.

Despite the tough times, the government continues to advance policies and reforms to restore fiscal and debt sustainability, raising and safeguarding social spending, preserving financial stability, and intensifying structural and governance reforms to unlock Zambia’s growth potential.

In a sense, both the citizens and the government might actually be right. While it is true that the economic performance for citizens has been frustratingly poor, it is also true that measures being put in place by the government have yielded some positive results. It is food for thought that perhaps the future might actually be bright.

It would, however, be an injustice to omit the one point of frustration - the many promises that President HH and his government made while in opposition. In pure opposition politics, the President and his team made it seem quite like they had the quick fix, but it is evident that they did not; and that, is probably why they are feeling all this pressure.

Is the pressure well deserved? It may just be.

[Camundi @Camundih]

@LarryMadowo If you have to genuinely help some beggars you don't make them spend so much travelling to your house. You go to their place, thus cutting costs for them, you see how they live, listen to them, throw something in their bowl, and you tell them your plans for them.