Enter your dates and choose from 28 hotels and other places to stay
Log in. Remember Me. Forgot password? Email this document Printable version. UNHCR is not responsible for, nor does it necessarily endorse, its content. Search Refworld. Clear Search. Advanced Search Search Tips. Zambia is also party to several international intellectual property agreements. The legal framework for trademark protection in Zambia is adequate. However, enforcement of intellectual property rights IPR is weak, and courts have little experience with commercial litigation. Copyright protection is limited and does not cover computer applications.
Of the many pirated and counterfeit goods in Zambia, the main ones are: DVDs, CDs, audio-visual software, infant milk, pharmaceuticals, body lotions, motor vehicle spare parts such as tires and brake pads , beverages, cigarettes, toothpaste, electrical appliances, fertilizer, pesticides, and corn seed. Small-scale trademark infringement occurs in connection with some packaged goods utilizing copied or deceptive packaging.
The Industrial Designs Act encourages the creation of designs and development of creative industries through enhanced protection and utilization of designs, and it provides for the registration and protection of designs and the rights of proprietors of registered designs. The Protection of Traditional Knowledge, Genetic Resources, and Expressions of Folklore Act provides a transparent legal framework for the protection of, access to, and use of, traditional knowledge, genetic resources, and expressions of folklore and guarantees equitable sharing of benefits and effective participation of holders.
The IPU tracks and reports on seizures of counterfeit goods, but no consolidated record is available. There are fines for revealing proprietary business information, but they are not large enough to adequately penalize possible disclosures. It takes a minimum of four months to patent an item or process.
Duplicative patent searches are not performed, but patent awards may be appealed on grounds of infringement. Though major strides have been made in Zambia in the fight against piracy and counterfeiting, more needs to be done. Government policies generally facilitate the free flow of financial resources to support the entry of resources in the product and factor market.
Banking supervision and regulation by the Bank of Zambia BoZ has improved slightly over the past few years. Improvements include revoking licenses of some insolvent banks, denying bailouts, limiting deposit protection, strengthening loan recovery efforts, and upgrading the training of and incentives for bank supervisors. High domestic lending rates and the limited accessibility of domestic financing constrain business. High returns on government securities encourage commercial banks to invest heavily in government debt to the exclusion of financing productive private sector investments.
The Lusaka Stock Exchange LuSE , established in , is structured to meet international recommendations for clearing and settlement system design and operations.
EXECUTIVE SUMMARY
There are no restrictions on foreign participation in the LuSE, and foreigners may invest in stocks on the same terms as Zambians. The LuSE has offered trading in equity securities since its inception and, in March , the LuSE became the official market for selling Zambian government bonds. Investors intending to trade a listed security or government bond are now mandated to trade via the LuSE. Secondary trading of financial instruments in the market is very low or non-existent in some areas.
Existing policies facilitate the free flow of financial resources into the product and factor markets. Credit is allocated on market terms and foreign investors can get credit on the local market, although local credit is relatively expensive and most investors therefore prefer to obtain credit outside the country.
- The 10 Best Ndola Hotels — Where To Stay in Ndola, Zambia.
- Stay in Ndola's best hotels!?
- Zambia: The Reality Amidst Contradictions: Human Rights Since the 1996 Elections.
- free dating agency Koln-Ruhr Area Germany.
- Zambia ready to host the U20 AFCON Tournament;
- Top airlines flying from California to Zambia!
- The Ongoing Legacies of Race and Class in Zambia.
The financial sector is comprised of three sub-sectors according to financial sector supervisory authorities. The banking and financial institutions sub-sector is supervised by the BoZ, the securities sub-sector by the SEC, and the pensions and insurance sub-sector by the Pensions and Insurance Authority.
There are currently 19 banks in Zambia with the largest four banks holding nearly two-thirds of total banking assets. The dominance of the four largest banks in deposits and total assets has been diluted by increased market capture of smaller banks and new industry entrants, an indication of growing competitive intensity in this segment of the banking market. There continued to be a steady increase in electronic banking and related services over the last few years.
As stated above, banking supervision and regulation by the BoZ has improved slightly over the past few years. The commercial lending rate ranged between 23 and 26 percent as of , among the highest in the region. The persistence of high interest rates led the government to urge commercial banks to reduce their lending rates in order to stimulate private sector growth and the economy as a whole.
One factor inhibiting more affordable lending is a culture of tolerating loan default, which many borrowers view as a minor transgression. Non-performing loans NPLs are growing, with some estimates as high as 15 percent. The government contributes to this problem, as it has arrears of about USD 1. Lender data reporting remains erratic and credit rating information is not widely available.
In addition, high returns on government securities encourage commercial banks to invest heavily in government debt, to the exclusion of financing productive private sector investments. Banking officials acknowledge that they need to upgrade the risk assessment and credit management skills of their institutions to better serve borrowers. Banks provide credit denominated in foreign currency only for investments aimed at producing goods for export. Banks provide services on a fee-based model and banking charges are generally high. Home mortgages are available from several leading Zambian banks, although interest rates are still very high.
The decision to license banks lies with the Registrar. Foreign banks or branches are allowed to operate in country as long as they fulfill BoZ requirements and meet the minimum capital requirement of USD million for foreign banks and USD 20 million for local banks. According to the BoZ, many banks in the country have correspondent banking relationships; it is difficult to assess how many there are or whether any bank has lost any correspondent banking relationships in the past three years.
It is also difficult to analyze if any of those correspondent relationships are currently in jeopardy as the daily management of those relationships are carried out by the individual banks and not by the BoZ. As key players in the financial sector, NBFIs are subject to regulatory requirements governing their prudential position, consumer protection, and market conduct in order to safeguard the overall soundness and stability of the financial system.
The NBFIs comprise 8 leasing and finance companies, 3 building societies, 1 credit reference bureau, 1 savings and credit institution, 1 development finance institution, 80 bureau de change, 1 credit reference bureau, and 34 micro-finance institutions. Private firms are open to foreign investment through mergers and acquisitions.
The CCPC reviews and handles big mergers and acquisitions.
- 1. Openness To, and Restrictions Upon, Foreign Investment;
- Refworld | Zambia: The Reality Amidst Contradictions: Human Rights Since the Elections.
- plus size dating in Ahmadnagar India.
- online dating site Utsunomiya Japan.
- asian dating sites Santa Marta Colombia!
- adult dating near Narayanganj Bangladesh.
- The Long Shadow of the British Empire.
- dating a woman in Cuiaba Brazil;
- west hook up Pune India.
- easy dating Baoding China.
- Table of contents!
- free online dating sites in Nasirabad Bangladesh!
- Stay in Luanshya's best hotels!!
- Zambia - United States Department of State!
The High Court of Zambia may reverse decisions made by the Commission. Under the CCPA, foreign companies without a presence in Zambia and taking over local firms do not, however, have to notify their transactions to the Commission, as it has not established disclosure requirements for foreign companies acquiring existing businesses in Zambia. There are currently no restrictions or limitations placed on foreign investors converting or transferring funds associated with an investment including remittances of investment capital, earnings, loan repayments, and lease payments into freely usable currency and at a legal market-clearing rate.
Investors are free to repatriate capital investments, as well as dividends, management fees, interest, profit, technical fees, and royalties. Funds associated with investments can be freely converted into internationally convertible currencies. The BoZ pursues a flexible exchange rate policy, which generally allows the currency to freely float, though it has intervened heavily to support the local currency, the kwacha, in to In March , the government announced the revocation of SI Number 33 mandating use of the kwacha for domestic transactions and SI Number 55 monitoring foreign exchange transactions.
Cheap Flights from California to Zambia from $ - KAYAK
The decision to revoke the SIs was widely praised in the business community. The kwacha, however, has remained weak in historical terms against the dollar and in early April was trading between Over-the-counter cash conversion of the kwacha into foreign currency is restricted to a USD 5, maximum per transaction for account holders and USD 1, for non-account holders. No exchange controls exist in Zambia for anyone doing business as either a resident or non-resident.
There are no restrictions on non-cash transactions. There are no recent changes or plans to change investment remittance policies that tighten or relax access to foreign exchange for investment remittances. There are no restrictions on converting or transferring funds associated with an investment including remittances of investment capital, earnings, loan repayments, or lease payments into freely usable currency at the legal market clearing rate. Foreign investors can remit through a legal parallel market, including one utilizing convertible, negotiable instruments such as dollar-denominated government bonds issued in lieu of immediate payment in dollars.
There are no limitations on the inflow or outflow of funds for remittances of profits or revenue and there is no evidence to show that Zambia manipulates the currency. ESAAMLG coordinates with other international organizations concerned with combating money laundering, studying emerging regional typologies, developing institutional and human resource capacities to deal with these issues, and coordinating technical assistance where necessary.
In June , Zambia adopted the recommendations. There are currently 34 state-owned enterprises SOEs operating in different sectors in Zambia including agriculture, education, energy, financial services, infrastructure, manufacturing, medical, mining, real estate, technology, media and communication, tourism, and transportation and logistics. Zambia has two categories of SOEs: those incorporated under the Companies Act and those established by particular statutes, referred to as statutory corporations.
The majority of SOEs have serious operational and management challenges. In principle, SOEs do not enjoy preferential treatment by virtue of government ownership, however, they may obtain protection when they are not able to compete or face adverse market conditions. The Zambia Information Communications Authority Act has a provision restricting the private sector from undertaking postal services that would directly compete with the Zambia Postal Services Corporation.
Zambia is not party to the Government Procurement Agreement GPA within the framework of the WTO, however private enterprises are allowed to compete with public enterprises under the same terms and conditions with respect to access to markets, credit, and other business operations such as licenses and supplies. SOEs in Zambia are governed by Boards of Directors appointed by government in consultation with and including members from the private sector. The chief executive of the SOE reports to the board chairperson.
Bernard Chanda
The board chair is informally obliged to consult with government officials before making decisions. The line minister appoints members of the Board of Directors from public services, private sector, and civil society.
The independence of the board, however, is limited as most boards are comprised of a majority of government officials and board members that are appointed by the line minister from the private sector or civil society can be removed. SOEs can and do purchase goods or services from the private sector, including foreign firms. SOEs are subject to the same tax policies as their private sector competitors and are not afforded material advantages such as preferential access to land and raw materials.
Audits are carried out annually, but delays in finalizing and publishing results are common. Controlling officers appear before a Parliamentary Committee for Public Accounts to answer audit queries. Audited reports are submitted to the president for tabling with the National Assembly, in accordance with Article of the Constitution and the Public Audit Act, Chapter The move, according to the government, was to allow line ministries to focus on policy making thereby giving the IDC direct mandate and authorization to oversee SOE performance and accountability on behalf of the government.
In , the government stated its intent to review state owned enterprises in order to improve their performance and contribution to the treasury and directed the IDC to conduct a situational analysis of all the SOEs under its portfolio with a view to recapitalize successful businesses while hiving off ones that are no longer viable; these reviews are ongoing.
There were no sectors or companies targeted for privatization in The privatization of parastatals began in , with the last one occurring in The government in theory limits its direct involvement in business to strategic investments deemed critical for the delivery of public goods and services, and seeks to maintain high standards of consumer protection.
Zambia ranked among countries on the Global Competitiveness Report. The government has sought to improve implementation of legislative and regulatory reforms that impact RBC. As an example, most investment ventures are required to create and submit environmental impact assessments as a prerequisite to the approval process.
The government requires many investment sectors, such as insurance, banking, and financial services, to submit annual audited financial statements as a licensing condition.
In the case of financial services, quarterly publication of financial statements is compulsory and rigidly enforced by the BoZ. Zambia has ratified a number of international human rights conventions, such as the Convention against Torture and Other Cruel, Inhuman, or Degrading Treatment or Punishment; the Convention on the Rights of the Child; and the Convention on the Rights of Persons with Disabilities.