fibre network, reaching Cape Town. Currently three companies, the Zambia Electricity Supply Corporation (ZESCO), the Copperbelt Energy Corporation (CEC) and the Zambia Telecommunications Company (ZAMTEL), are licensed to operate optic fibre networks. There are a number of mobile telephone services offering a service throughout the country, including Airtel Zambia, MTN and Cell-Z - the mobile segment of the national network ZAMTEL. As of June 2010, there are in excess of 127,500 internet users in Zambia - roughly 6% of the population and great strides are being made to extend internet connectivity to rural areas. Banking Zambia’s dynamic banking industry consists of the Bank of Zambia with 19 commercial banks - 16 of which are foreign-owned, two are owned by local private investors and one is jointly-owned by the Zambian and Indian government. The Bank of Zambia is a leading policy formulator and the fiscal agent of the Government. The Bank regulates and supervises the banks and financial services registered under the Banking and Financial Services Act of 2000 to ensure a sound financial system. Non-bank financial institutions comprise of eight leasing companies, four building societies, one development bank, one savings and credit bank, one development
finance institution, 57 bureaux de change, one credit reference bureau and 35 microfinance institutions. The capital market is regulated by the Lusaka Stock Exchange (LuSE). Transport and Logistics Zambia’s major rail line links Zambia with Tanzania, jointly owned by the Zambian and Tanzanian governments and run by TanzaniaZambia Railway Authority (TAZARA). Plans are underway to ramp up its potential and it remains the dominant mode of transportation - over 83.4% - for goods on local and international routes. The Chipata-Mchinji Railway is under construction and will link Zambia with Malawi and Mozambique. Zambia has two international airports in Lusaka and Livingstone, and there are more than 130 airfields, one third of which are Government-owned while the rest are private. The smaller airports include Ndola on the Copperbelt province and Mfuwe in the Luangwa National Park. Road Development: truly land linked Growth in the construction and transport sectors is expected to greatly benefit from the government’s pioneering “Link 8,000” road infrastructure project, currently underway. The project, also known as the Accelerated National Roads Construction Programme, was initiated by the Zambian Government to accelerate road construction
and boost development and trade across the country. The project will create 24,000 jobs especially among the youth, who make up more than 50% of Zambia’s population, and transform Zambia into a truly landlinked country. A total of 8,201 kilometres will be implemented over a period of five years at an estimated cost of K28.4-trillion. A Project Implementation Team has been established within the Road Development Agency to manage the Link Zambia Project, headed by a project manager who will report to the Road Sector Management Team comprising all Road sector Agencies, Ministry of Transport, Works, Supply and Communications and Ministry of Local Government and Housing. Healthcare Healthcare in Zambia is free, with the national healthcare provider based at the University Training Hospital UTH in Lusaka. Private hospitals and clinics in Lusaka have earned a reputation as providers of goodquality healthcare, covering basic medical care to emergency rescue. Flying doctor services cover remote areas and provide immediate care and transport for urgent cases. Zambia has drastically reduced its HIV rate to around 13% and is taking positive strides towards reducing high mortality rates among mothers giving birth, as well
Best of Zambia
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