ACCA

Day 3: Technical and Health Sessions

As the 2024 Annual Business Conference enters its final day, Day 3 builds upon the insightful discussions from Day 2, which focused on investment, entrepreneurship, and the regulatory landscape. Key topics included the importance of SME financing, the National Health Insurance and the critical role of regulatory frameworks Day 2 closed with updates from ZRA, who outlining the latest tax reforms and their implications for businesses.

With the foundation of these topics laid, Day 3 shifts focus to technical sessions and health-related discussions, emphasizing the role of finance business partnering, sustainability, and retirement planning in the broader economic context.

Day 3 opened with panel discussion led by Ms. Mildred Mutesa, CEO of ZNBS, and Mr. James Koni, Co-Founder of Best Life Insurance, explored how accountants can become value creators in organizations by offering strategic insights and playing a critical role in business growth.

Mr. John Sakala, Partner at EY Zambia, discussed the integration of Environmental, Social, and Governance (ESG) principles into business strategies. He highlighted how strong governance and compliance are essential for sustainability and long-term profitability.

To close on the conference presentations was Ms. Memory Banda, a financial literacy coach who provided practical advice on retirement planning, stressing the importance of early preparation for financial security. Her session aimed to equip professionals with the tools to plan their financial futures effectively.

The official closing of the 2024 Annual Business Conference was delivered by ZICA CEO Mr. Anthony Bwembya, who expressed gratitude to the conference delegates for their participation, the sponsors for their support, and the organizing committee, which included ACCA Zambia, ZICA, and CIMA, for their efforts in making the event a success.

The conference closed with ZICA CEO Mr. Anthony Bwembya, who thanked delegates, sponsors, and the organizing committee.

Thank you to the ACCA Zambia Team Ms. Maambo Shakakata Mulenga and Mr. Hardy Choongo led the ACCA Country Head, Ms. Janice M Matwi, as well as the ZICA (Zambia Institute of Chartered Accountants) and CIMA Zambia teams for their support to the ABC Committee on delivering a successful event.

ZICA (Zambia Institute of Chartered Accountants)

Day 2: Investment, Entrepreneurship, and Regulatory Insights

Building on the momentum of Day 1, which explored Leadership in the Digital Age and Zambia’s Economic Recovery, Day 2 of the 2024 Annual Business Conference shifts focus to investment, entrepreneurship, and the regulatory landscape. Day 1 highlighted the need for innovation, sustainability, and strategic leadership, setting the stage for deeper discussions on how Zambia can unlock business growth through investment and regulatory support.

Day 2 kicked off with a presentation by Dr. Henry L. Chikweti, Founder of Whence Limited, who shared insights on how his business is revolutionizing operations in Zambia through innovative practices. He provided practical advice on embracing technology and new business models to stay competitive in a dynamic market.
Ms. Mary Mumba, CEO of the Zambia Credit Guarantee Scheme, explored the critical role of the scheme in enabling SMEs to access financing. She highlighted how the scheme helps mitigate risks for financial institutions, making it easier for small and medium-sized enterprises to secure funding and thrive.

Mr. Herryman Moono, Director Research Planning and Strategy from NHIMA, shared the successes and challenges of Zambia’s National Health Insurance Scheme. His presentation focused on how the scheme has expanded healthcare access and the ongoing efforts to improve its efficiency and reach.
Ms. Sharon Sichilongo, CEO of BRRA, discussed how regulatory frameworks impact Zambia’s business environment. She emphasized the importance of regulatory clarity and how the BRRA works to create a conducive environment for business growth and foreign investment.

To end Day 2’s presentations was Mr. Timothy Milambo, who is the acting Commissioner Finance from ZRA, who provided the latest updates on Zambia’s tax reforms. He explained the efforts being made to improve tax compliance, enhance efficiency in tax collection, and encourage transparency in financial reporting.

Day 2 sessions were moderated by Mr. Stervious Muchimba from ZDA and Ms. Chikatizyo Musonda from Ministry of Energy.

ZICA (Zambia Institute of Chartered Accountants)

Day 1: Leadership in the Digital Age and Zambia’s Economic Recovery

The 2024 Annual Business Conference, themed “Business Success Beyond Today: Embracing Innovation, Sustainability, and Excellence,” is taking place from October 9th to 11th at The Avani Victoria Falls Resort. The annual event brings together key business leaders, policymakers, and professionals to discuss strategies that will shape the future of Zambia’s economy.

The conference was officially opened by Hon. Credo Nanjuwa, Minister of Southern Province, who emphasized the importance of innovation, sustainability, and excellence in driving Zambia’s economic growth. He highlighted the government’s efforts to build resilience against climate change, particularly in response to the ongoing El Niño-induced drought.

This year’s event is chaired by CIMA, and Mr. Gordian Bowa, CIMA Country Manager, welcomed participants, stressing the importance of collaboration between ZICA (Zambia Institute of Chartered Accountants) (Zambia Institute of Chartered Accountants), ACCA, and CIMA. He encouraged accountants to leverage digital tools like AI and data analytics to promote business innovation and sustainability.

Ms. Yande Siame Mwenye, President of ZICA, reiterated the role of accountants as strategic partners in business, aligning their work with Zambia’s 8th National Development Plan. She urged professionals to champion sustainability and strive for excellence in their roles.

Presentations on day 1 of the conference included Debt Restructuring and Economic Recovery by Mr. Humphrey Mulenga from Deloitte examined the impact of Zambia’s debt restructuring on its economic recovery, this was moderated by Mr. Moses Chitoshi from ZICA, Leadership in the Digital Age by Dr. Choolwe Choolwe who discussed the need for leaders to adopt digital tools and agile strategies to thrive in the modern business landscape and finally a presentation on Artificial Intelligence in Business by Ms. Yaza K. Kara from Stanbic Bank highlighted the transformative potential of AI in business operations which were both moderated by Ms. Chisanga Leah Yondela from Zamseed Ltd.

The day concluded with closing remarks by Ms. Janice Matwi, ACCA Zambia Country Head, who emphasized the importance of embracing the insights shared throughout the day to drive growth and sustainability in Zambia's business landscape.

Also present at the conference are ZICA Vice President Mr. Joseph Matimba, ACCA Zambia Chairperson Ms. Petronella Chilwesa Zyuulu, ACCA Zambia Vice Chairperson, Mr. Mwenya Zulu, and CIMA Zambia Chairperson

On Wednesday, 2nd October, ACCA Zambia and the Bankers Association of Zambia (BAZ) officially signed a Memorandum of Understanding (MoU) during a signing ceremony held at the ACCA Zambia office.

Representing ACCA was Ms. Janice Matwi, Head of ACCA Zambia, and for BAZ, Ms. Lowani Chibesakunda, President of BAZ. Also in attendance were Mr. Leonard Mwanza, Chief Executive of BAZ, along with representatives from both ACCA Zambia and BAZ.

In her remarks, Ms. Janice Matwi highlighted the importance of this partnership in strengthening financial leadership and capacity building within Zambia's banking sector. She emphasized that this collaboration will help equip finance professionals with the necessary skills to navigate the rapidly evolving financial landscape.

Ms. Lowani Chibesakunda echoed this sentiment, expressing her enthusiasm for the joint efforts to promote professional development and financial literacy across the sector. She noted that this MoU is a significant step towards building a stronger financial ecosystem for Zambia.

Celebrating excellence: Nominations open for ACCA Africa CFO awards!

Africa’s leading CFO awards showcase the best financial leadership in all sectors across the continent, CFOs are helping our businesses and economies prosper in a fast-changing world.

Since their launch in 2022, the ACCA Africa CFO awards have highlighted the critical role which CFOs play in the quest for sustainable business across Africa.

The awards highlight the significance of the senior finance function in building resilient organisations and sustainable business models. They also recognise the excellence and outstanding performance of professional accountants and inspire and nurture the business leaders of tomorrow.

Jamil Ampomah, director – Africa at ACCA said: ‘The role of the modern CFO will only increase in importance over the next few years as they strive to build sustainable organisations and give Africa and the world the business leadership it needs.

These awards are designed to recognise and celebrate the contribution that inspiring CFOs make in every sector of our economy.’
This year’s theme is ‘Celebrating Excellence in Finance: Delivering Sustainable Value’ and nominations are invited across the following seven categories:

1. Sustainable Finance Leadership CFO Award
2. Micro, Small, Medium Enterprise CFO Award
3. Financial Services Sector CFO Award
4. Public Sector CFO Award
5. Young CFO Award
6. Corporate CFO Award
7. ACCA Africa CFO Award

To nominate a CFO in any of these categories, please visit https://lnkd.in/dF_uGNVw

Nominations are open until 14 October and the winners will be announced on 6 December.

For more information, please contact [email protected]

ACCA Zambia renewed its partnership with the Industrial Development Corporation (IDC) through a Memorandum of Understanding (MoU) signing ceremony held at the IDC premises on Monday, September 9th. The newly signed MoU aims to enhance the financial capabilities of IDC and enhance its operational efficiency.

During the ceremony, Mr. Cornwell Muleya, the Chief Executive Officer of IDC, , emphasized that the renewed partnership will concentrate on developing an annual work plan. This plan will detail the key deliverables and collaborative goals for both ACCA and IDC, ensuring a structured approach to achieving mutual objectives.

In her address, Ms. Janice Matwi, Head of ACCA Zambia, reflected on the successful initiatives accomplished under the previous partnership. She highlighted that the renewed MoU aims to further strengthen collaborative efforts and support human capital development. The agreement is designed to foster ongoing professional growth and expertise within IDC, leveraging ACCA’s resources and knowledge.

The MoU was officially signed by Mr. Cornwell Muleya on behalf of IDC and Ms. Janice Matwi on behalf of ACCA Zambia, marking a significant step in enhancing the strategic collaboration between the two organizations.

On August 15, 2024, ACCA Zambia held its 22nd Annual General Meeting at The Quorum in Lusaka, under the theme "Being Bold: Innovation and Sustainability in Accounting." This year, ACCA Zambia partnered with Deloitte Zambia, who served as the platinum sponsor of the 2024 AGM.

The pre-AGM session featured a forward-looking agenda, emphasizing the importance of innovation and sustainability in the accounting profession. ACCA Africa Director Jamil Ampomah delivered virtual opening remarks, setting the tone for the discussions.

The pre-AGM plenary session featured a distinguished panel of industry experts who explored pivotal topics related to the theme. Key areas of focus included best practices in data governance, the opportunities provided by emerging technologies such as AI, IoT, blockchain, augmented reality, and virtual reality, the variety of AI tools available for audit and assurance, and the transformative impact of AI on the accounting profession.

The panel included: Mr. Choolwe Nalubamba, Director General of ZICTA, who addressed data governance and AI-related cybersecurity threats, Venus Hampinda, Chief Financial Officer at Absa Bank Zambia, who discussed the application of emerging technologies in the banking sector, Masempele Mwanda, Senior Manager Financial Advisory at Deloitte Zambia, who covered AI tools for audit, compliance, and risk management and Janice Matwi, Head of ACCA Zambia, who highlighted AI’s role in transforming the accounting profession and the essential skills accountants need in this new era.

The session was moderated by Mundia Mwanambuyu, Manager Financial Advisory at Deloitte Zambia.

The formal AGM proceedings were chaired by Petronella Zyuulu, Chairperson of the ACCA Zambia Member Network Panel, who guided the meeting’s agenda and discussions. The meeting was officially concluded by Mwenya Zulu, Vice-Chairperson of the ACCA Zambia Member Network Panel.

Navigating ESG Reporting: Insights from ACCA Zambia and Nigeria Professionals

In the rapidly evolving landscape of corporate sustainability, it has become essential for finance professionals to stay ahead of the curve. Join us for this insightful webinar, hosted by the ACCA Zambia Member Network Panel, as we explore the intricacies of ESG (Environmental, Social, and Governance) reporting from a cross-regional perspective.

Join John Sakala as he moderates this webinar featuring experts from ACCA’s Nigeria network, Rashidat Adebisi and Babajide Ibironke. The session will offer valuable insights into the practical application of ESG principles within the finance function.

Register now to secure your spot and unlock the key to unlocking the full potential of ESG integration in your finance operations.

Date: 8th August 2024
Time: 16:30
Platform: Microsoft Teams
Registration Link: https://shorturl.at/vXb8a

Given the recent tax reforms in Zambia, it's crucial for accounting professionals to stay up-to-date on the changing landscape and ensure their clients maintain compliance.

Join Prudence M. as she speaks to industry experts, Kafumu Mbewe and Mathews Kumwenda for this valuable webinar hosted by the ACCA Zambia Member Network.

The panel of speakers will be providing guidance on navigating the new tax environment from both a regulator and practitioner perspective.

Date: Thursday 25th July
Time: 16:30hrs
Platform: Microsoft Teams
Link: https://shorturl.at/BHWVC

As ACCA Zambia continues to celebrate the milestone of reaching a quarter of a million members globally and in commemoration of MSME Day which fell on 27th June 2024, ACCA Zambia, in partnership with ZICTA, held an SME Masterclass on Tuesday 16th July 2024 which focused on financial literacy for small businesses. The event was officially opened with remarks from ZICTA, delivered on behalf of the Director General by Mr. Eric Lwao, Manager Post at ZICTA.

ACCA Zambia hosted Mr. Rocky Sombe, a successful business owner and seasoned entrepreneur, as the special guest speaker. His talk, "Building a Thriving Business in Zambia: Essential Strategies for Long-Term Success," offered invaluable insights. Additionally, Janice Matwi, Head of ACCA Zambia, gave a presentation on "Leveraging Data for Small Businesses," providing practical strategies for SMEs to harness data effectively.

The training on financial literacy for small businesses was conducted by Mr. George Siameja, a financial literacy consultant, who provided essential guidance to help SMEs improve their financial management practices.

The masterclass was sponsored by KPMG Zambia and Prudential Zambia, with KPMG Zambia CEO Mr. Jason Kazilimani delivering a vote of thanks on behalf of the firm. The event brought together SMEs from various sectors, including the Zambia Chamber of Commerce and Industry (ZACCI), Women in Technology (WiTN), SMEs banking under Anakazi Banking with Stanbic Bank, SMEs under the ZICTA SME incubators, and SMEs from the National Technology Business Center (NTBC).

In celebration of reaching a quarter of a million members globally, ACCA in Zambia has embarked on a series of activities.

To mark this milestone, and through sponsorship by ACCA members in Zambia, ACCA Zambia donated accountancy textbooks to Matero Boys Secondary School on Friday, 5th July.

The books were presented to the school by the head of ACCA Zambia, Janice Matwi, who was accompanied by ACCA Zambia's Business Development Manager and Business Relationship Manager.

Representing the members was Prudence Muchinouta, a member of the ACCA Zambia Member Network Panel, who shared remarks on behalf of the ACCA Zambia Network Panel Chairperson.

The textbooks were received by Matero Boys Secondary School Head Teacher, Mr. Samuel Chipo.

Today and every day, we honor and celebrate the bravery, sacrifice, and selflessness of our national heroes.

We remember those who have fought for the freedom of our nation and inspire us with their courage and determination.

Let us pay tribute to their legacy by continuing to strive for a better world, where heroism and kindness are the guiding forces.

Happy Heroes' Day!

ACCA Zambia Wishes you a Happy Africa Freedom Day!

On this special day, we honor the spirit of freedom, unity, and progress that defines our continent. This year’s theme, “Educate an African fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa,” underscores the critical role of education in shaping our future.

Let’s continue to invest in education, ensuring it is accessible, inclusive, and tailored to meet the demands of the 21st century. Together, we can create a brighter and more prosperous future for all.

On Wednesday, May 8th, ACCA Zambia launched its inaugural University Employability Seminar at the University of Zambia Graduate School of Business. The event featured presentations by Hardy Choongo, Business Relationship Manager for ACCA Zambia, who provided insights into the ACCA qualification, and Janice Matwi, ACCA Zambia Head, who discussed the future of work.

Industry experts, including Venus Hampinda, Chief Financial Officer at Absa Bank Zambia, focused on tech trends influencing the workplace. Additionally, a representative from CV People Africa addressed the mindset of recruiters.

The employability seminars are aimed at equipping university students with valuable insights into the evolving job market and enhance their employability prospects.

“Without labor nothing prospers”. – Sophocles

ACCA Zambia wishes you a Happy Labor Day!

“The moment you have protected an individual, you have protected society.” The wise words of Dr. David Kenneth Kaunda.

Happy Kenneth Kaunda Day!

On Thursday, April 18th, 2024, ACCA Zambia hosted the 2024 New Members and Fellows Ceremony. The event was honored by the presence of ZiCA President Yande Mwenye, who graced the occasion as the Guest of Honor and delivered a congratulatory message to the new members and fellows. Additionally, the event was graced by ACCA Global President Ronnie Patton, who delivered a congratulatory message virtually and on behalf of ACCA Africa Director Jamil Ampomah, a congratulatory message was delivered by Head of ACCA Zambia, Janice Matwi.

The event was further graced by the presence of ACCA Zambia's Member Network Panel Chairperson, Petronella Zyuulu, and Member Network Panel Vice Chairperson, Mwenya Zulu, accompanied by members from the Panel. Their attendance enhanced the significance and warmth of the ceremony, making it a truly memorable occasion for all attendees.

Pass rates announced for March 2024 ACCA exam sitting

Pass rates have been announced by ACCA (the Association of Chartered Certified Accountants) for students who sat their exams in March 2024.

88,029 entered for the March sitting, which saw 102,626 exams completed. A total of 3,548 students completed their final exams to become ACCA Affiliates.

Commenting on the latest exam results, Alan Hatfield, executive director – content, quality and innovation, said: ‘It’s great to see a strong set of results from the first exam session of the year. We’re pleased to see so many students making progress towards their goal of ACCA membership and congratulate all successful students from the March session.

Click link to read more: https://bitly.ws/3i3Tj

Save the Date!

ACCA Zambia is thrilled to announce the 2024 New Members & Fellows Convocation.

Join us for this annual black-tie event for an evening of fine dining and networking.

Date: 18th April 2024
Time: 18:00 Hours
Venue: Intercontinental Hotel Lusaka

Participation Fees:
K2,500 (single ticket)
K4,500 (couples/double tickets)

Click here to register now: https://forms.office.com/e/xHDzdbbN4M

In the rapidly evolving world of work, as organizations strive to adopt business practices that are more inclusive, sustainable, and recognise environmental and social impacts, how they engage with and respond to today’s youths will be critical to their success.

Click link to hear from Gen Z's around the world https://www.accaglobal.com/gb/en/cam/rethinking-careers/podcasts.html

Happy Youth Day!

ACCA Zambia is delighted to announce, the 2024 ACCA Zambia Events Calendar is now available. To receive your copy, please complete the form via the following link: https://forms.office.com/e/cbJ9Ycuptc

Don't miss out on a year of insightful events. Get your calendar today!

Wishing everyone a Happy New Year!

Season's greetings from all at ACCA

Merry Christmas