Internet penetration in Zambia is still low, says mobile network MTN.

This is according to a statement made by the company after it announced the second phase of its ‘MTN Appathon’ mobile application development competition.

Research firm BuddeComm notes that Zambia only has an internet penetration rate of 16% while the country has a mobile usage rate of 91% among its 14 million population.

And in a statement, MTN Zambia chief sales and distribution officer Amon Jere said there is a “wrong perception that data services are a preserve of the elite.”

Jere has further said that “there is need to remove barriers for penetration” while MTN is already attempting to do this by launching more 3G and 4G LTE networks.

“We are optimistic about our proposition as people will have easy access to information and improved communication between consumers, business and consumers and businesses to businesses as well as a tool for enhancing quality education,” he said.

- See more at: http://www.itwebafrica.com/mobile/322-zambia/232855-zambian-internet-usage-too-low-says-mtn#sthash.T9mjAb9G.dpuf 

SHOPRITE Checkers has opened a superstore at Ndola’s Kafubu Mall at a cost of US$4 million.
The chain store has employed 170 employees at the 21st store outlet of which 79 are permanent while the others are permanent flexi-timers, who will be paid on a monthly basis like permanent employees..
Shoprite Checkers Africa director Gerhard Fritz said at a cocktail hosted for its suppliers on Wednesday night that the chain store will create more job opportunities when it opens five other supermarket outlets in the country.
The company has employed over 2,400 workers countrywide.
Mr Fritz said the chain store is opening another branch in August at Lusaka’s Twin Palm and another store will be opened in October in Kapiri Mposhi.
Shoprite will also open new stores in Chililabombwe and Kitwe in July next year.
“Our intention is to open as many stores as we can countrywide [to effectively serve our customers],” he said.
Mr Fritz said Shoprite will also open a store in Lubumbashi in the Democratic Republic of Congo which will create an opportunity for Zambian suppliers.
He, however, expressed concern that most suppliers are Lusaka-based, which is a challenge for them as they have to move long distances to deliver their merchandise, especially fresh produce.
Mr Fritz commended Government for working on the roads as this will ease the movement of the chain store’s merchandise.
“Transporting our merchandise has always been a challenge but we are thankful to Government for working on the roads as this will shorten on the delivery time,” Mr Fritz said.

Daily Mail

A SOLDIER of Mushili Commando Unit in Ndola has allegedly assaulted his wife after she denied him sex.
The soldier identified as sergeant Blackson Malanga of Kalewa Garrison allegedly battered his wife, Hazel Mbewe, 29, after she refused to have sex with him.
Copperbelt commissioner of police Joyce Kasosa confirmed yesterday that police have received a report that a commando has allegedly assaulted a woman.
“We have a report at Kansenshi Police Station of a commando who assaulted his wife. A docket for assault has been opened and investigations are underway but the arrest has not yet been made,” Ms Kasosa said.
Narrating her ordeal at Kansenshi Police Station, where she was found reporting the case, Ms Mbewe said she denied her husband conjugal rights because he has allegedly been away from their matrimonial home for a month.
Ms Mbewe said she is afraid of contracting a sexually transmitted infection (STI) because she suspects that her husband has allegedly been living with another woman.
Ms Mbewe claimed Mr Malanga allegedly demanded for sex when he returned home and he beat her up when she refused.
She said Mr Malanga’s alleged cruelty forced her to move to her parents’ house in Nkwazi.
“My husband has been away from home for one month so when he returned I refused to have sex with him as a way to protect myself from contracting an STI. It is because I suspected he must have been living with another woman.
“So he got angry and started beating me up and that is how he ended up assaulting me,” she said.
Ms Mbewe said the incident happened on Sunday around 07:00 hours at their home in Kalewa Garrison.
Ms Mbewe said that she sustained body injuries and a swollen face.

Two Lusaka businessmen of Indian origin today appeared in the Lusaka Magistrate Court charged with importation and sale of forged trademark for panado tablets.

Imiran Patel and Kalpesh Patel have however pleaded not guilty to four different counts before Resident Magistrate Aridah Chulu.

Each of the tow is charged with two counts for importing and sale of forged panadol tablets that resembled the trade mark for panado for Pharmanova Zambia Limited.

In the first count, Imiran Patel is charged with forgery of trademarks and other acts prohibited contrary to section 5 (i) (g) and section 23 of the merchandise marks Act chapter 405 of the laws of Zambia.

It is alleged that the accused on February 14, 2014 had in his possession one packet of 1, 000 panado tablets and 56 boxes of 1,000 panado tablets each bearing a trade mark that resembles that of panado, a product of Pharmanova Zambia Limited.

In count two, he is charged with prohibition sale of goods bearing forged trade mark contrary to section 6 (i) (b) and section 23 of the merchandise marks Act chapter 405 of the laws of Zambia.

In this count, Imiran is alleged to have on February 14, 2014 sold goods namely 56 boxes containing 1,000 tablets of panado which had a forged trademark applied to it.

And in the third count, Kalpesh Patel is facing a charge of importation of certain goods prohibited contrary to the laws of Zambia.

He is alleged to have on unknown dates but in February 2014 imported into Zambia panado tablets which had a trademark that nearly resembles that of panado trademark, a product of
Pharmanova Zambia Limited.

In the forth count, Kalpesh Patel is charged with falsely representing a trademark as registered contrary to section 69 (i) (a) of the trademark Act chapter 401 of the laws of Zambia.

The accused is alleged to have on February 14, 2014 made a representation of panado trademark which was not a registered trademark to the effect that it was a registered trademark.

The accused persons, who are not being defended by any lawyer, are on police bond.

And after the court recorded a plea of not guilty for both accused persons on all the four counts, the magistrate adjourned the matter to June 3, 2014 for mention and July 21, 2014 for commencement of trial.

Local Government and Housing Minister Emmanuel Chenda has disclosed that Zambia currently has an estimated housing deficit of about three million housing units.
Mr. Chenda said this presents a huge investment opportunity in housing development which he said has remained untapped.

He said this during the inaugural conference of the Zambia Property Owners Association (ZAPOA) in Lusaka today.

He said the creation of new districts has also provided opportunities for investing in houses, office buildings, guest houses and restaurants, banks and insurance companies, shopping malls, warehouses and recreation facilities.

Mr. Chenda stated that it was the desire of government that mortgages and construction financing should be affordable to would-be investors.

The minister said in a bid to make mortgages for housing development affordable, President Michael Sata recently directed the recapitalisation of the Zambia National Building Society, to which effect the national treasury released K167 million to the society.

He however noted that the demand for property development is huge and has since called on financing institutions and other property developers to invest in this lucrative industry which he said has the potential to improve the quality of majority citizens through job creation, improved living and working environment.

Mr. Chenda also stated that government was aware of the concerns of property owners regarding the cumbersome and slow process of acquiring title deeds which hinders property owners to access mortgages due to lack of title deeds.

He said his ministry was equally concerned as titled properties would result in increased payments of rates and stamp duty which government greatly needs for increased investment in water supply and sewerage, road, power and social infrastructure development.

Mr. Chenda said the creation of ZAPOA therefore provides a grand opportunity for various stakeholders including government to work together in addressing some of the constraints to the growth of property development and ownership.

The opposition Movement for Multiparty Democracy (MMD) has called on its members to embrace one another and stop name calling.
MMD National Secretary Muhabi Lungu said every member of the party was important and no-one was an opportunist.

Mr. Lungu said unity was key in any party and has since advised the members to use the normal established channels of communication in the party.

He was speaking in an interview with ZANIS in Lusaka today.

He said there was still room for the party to become strong again inspite of the infighting that rocked his party in the recent months.

A faction has arisen in the former ruling party with some MMD members opposed to party president Nevers Mumba’s leadership calling for an extra ordinary convention.

Mr. Lungu pledged to rebuild the party and ensure that the members who defected to join the ruling PF and other political parties re-join the MMD.

Mr. Lungu took over the position of party national secretary from MMD Senga Member of Parliament (MP), Kapembwa Simbao.

Speaking at during the signing ceremony of the bilateral agreement with the Finish government in Lusaka May 7th, ZNFU Executive Director Ndambo Ndambo says out of the 21.2 million Euros, Finland will contribute 36%, while ZNFU and SIDA will each contribute 25% and the remaining amount will be contributed by a few other externally funded projects such as the conversation farming unit, Musika and others.

Mr Ndambo says the 2014-2017 Core programme is designed to assist ZNFU to effectively continue lobbying for a predictable policy environment for private sector led agricultural development, lobby for clear cut policies on agricultural inputs and out output markets.

He adds that this will also help in improving the competitiveness of the Zambian agriculture sector and will also help in lobbying for smart and innovative incentives for improved private sector investments in agriculture.

And speaking at the same occasion, Finnish Ambassador to Zambia Pertti Anttinen says the implementation of the first phase of the Core programme has been successful in increasing incomes, food and nutrition security levels among small holder farmers through the Lima credit scheme.

Mr. Anttinen however notes that despite the progress, small holder farmers continue to face challenges of low productivity, competiveness, access to agricultural finance and extension services among others.

Finland and ZNFU have signed a four million Euros grant agreement which is part of the seven million six hundred thousand Euros financial contribution expected from Finland for the four year Core Support Programme Phase two.

Following an international competitive tender, the Ministry of Transport, Works, Supply and Communication of Zambia has chosen Thales for the supply, delivery, installation, and commissioning of the country’s air traffic management and radar surveillance system.

The group will supply its TopSky-ATC to Kenneth Kaunda International Airport in Lusaka and Harry Mwanga Nkumbula International Airport in Livingstone.

Key points:

* Thales’s TopSky-ATC will manage the entirety of Zambia’s air space.
* Thales adds Zambia to its extensive User Community.
* Seventy percent of African ATC centres are already equipped by Thales’ TopSky-ATC.

Zambia joins an extensive community of African countries that use Thales systems and pursue regional harmonisation; an initiative strongly supported by Thales. The group will supply its TopSky-ATC, the world’s most advanced air traffic control system, to Kenneth Kaunda International Airport in Lusaka and Harry Mwanga Nkumbula International Airport in Livingstone. The Thales solution will be delivered alongside two primary radars and two secondary surveillance radars equipped with full Mode S. All systems are fully compliant with the new ICAO Flight Plan 2012 format and EUROCONTROL standards.

Editorial contacts:
Carol Davies (Gunter)
Head:  Corporate Communications
(+27) 011 313 9251
carol.davies@thalesgroup.com

Before Zambia, other African countries – including Namibia, the Democratic Republic of Congo and South Africa – have deployed this air traffic automation and surveillance system. Zambia will therefore benefit from a greatly enhanced air traffic management network, seamlessly interoperable with all other regional systems, most of which are also equipped by Thales.

Over the years, Thales has become dominant in Africa’s Air Traffic Management market. Over 70% of the continent’s control centres now feature TopSky-ATC, the world’s most successful ATC turnkey solution – used by over 16 000 controllers globally.

“The chance to equip Zambia’s ATM is further testament to the strength of our brand in Africa. We look forward to a long and fruitful partnership with this new client,” says Thomas Pistre, director of Sales for Africa of Thales’s ATM business.

Irate charcoal traders at Kasama’s Chambeshi market have threatened to stop paying levy if the PF controlled municipal council fails to improve services.

Speaking when a Mano News crew toured the market place, the visibly annoyed marketeers charged that the place has no toilet facilities adding that garbage is just piling.

They feared that if the state of affairs is not urgently addressed, there could be an outbreak of airborne diseases as they are answering the call of nature in the nearby bush.

Radio Mano

DIRECTROR of Public Prosecutions (DPP) Mutembo Nchito has taken over the prosecuting of a matter in which former Republican President Rupiah Banda has sued the Post Newspaper Limited and its editor-in-chief Fred M’membe  for contempt of court.
Lusaka senior magistrate Mwaka Mikalile granted the application from Mr Nchito as chief prosecutor of the State.
Mr Banda has in this matter sued the Post and Mr M’membe as first and second defendants respectively and is asking the court to cite them for contempt over 19 editorial comments published in several editions of the newspaper.
The former President contends that the defendants have breached the law by publishing articles alleging that he was corrupt and that editorial comments were prejudicial as he was already in court facing corruption charges.
When the matter came up for plea before Ms Mikalile yesterday, deputy chief State advocate from the DPP’s chambers Mable Nawa informed the court that the State would be taking over  the matter.
Ms Nawa requested for an adjournment to enable her office and the complainant, Mr Banda, to review the case.
But one of the defence lawyers Makebi Zulu of Makebi Zulu and Associates said his client found it absurd or bizarre for Mr Nchito to take over prosecution of the matter because his client had prepared to take a particular course.
“We are skeptical about the take-over. We pray that the exercise of the discretion is in good faith because the nature of the application is not the one we are allowed to object to,” Mr Zulu said.
Another lawyer Keith Mweemba said Mr Banda as a complaint can undertake criminal proceedings without the DPP’s intervention.
Mr Mweemba said the guarantee of a fair trial contained in the Constitution was not only for the complainant but also for the accused especially that the contempt charge intended to preserve the authority of the court and the right of Mr Banda.
Jonas Zimba another lawyer representing Mr Banda said the application by Mr Nchito entails that issues under the Bills of Right part III of the Constitution will come in issue.
Mr Banda then asked the court to refer the matter to the high court for determination of its  constitutionality.
But in her ruling Ms Mikalile agreed with the State and allowed Mr Nchito to take over. She said the DPP was merely exercising his powers.
Ms Mikalile said she could not at this stage refer the matter to the high court because she did not see any reason to do so.
After the ruling, Mr Zulu said that although his client was still not comfortable with Mr Nchito prosecuting the matter, there was nothing he could do because the DPP was merely exercising his powers.
She adjourned the matter to June 2014 for possible plea and to give Mr Nchito and Mr Banda time to review the charges slapped against Mr M’membe and the Post.

Times of Zambia

THE Catholic Church in Zambia has celebrated the first anniversary of the election of Pope Francis, with the Vatican Ambassador to Zambia Julio Murat expressing happiness at Government’s willingness to dialogue over Statutory Instrument (SI) number 103 of 2013.
Finance Minister Alexander Chikwanda recently signed SI 103 of 2013, which brought into effect the Customs and Excise amendment thereby lifting tax exemptions for public benefit organisations and Non-Governmental Organisations (NGOs).
Vice-President Guy Scott was among prominent Government officials and other individuals who attended the anniversary at Archbishop Murat’s residence in Lusaka on Wednesday.
Archbishop Murat said SI 103 of 2013 had made the work of the Catholic Church difficult.
“The Catholic Church is also happy to hear that the Government is ready to dialogue about the Statutory Instrument No. 103 of 2013. This Statutory Instrument has made the work of the church difficult.
“I thank the Government for its readiness to dialogue and I hope that a just solution on this issue will be found,” Archbishop Murat said.
He said the Vatican was also grateful to President Michael Sata for publicly declaring his appreciation for the contribution the Catholic Church in Zambia was making, especially in the health and education sectors.
He said the Catholic Church in Zambia had undoubtedly contributed to the country through health and educational services without ethnic and religious distinction and would continue to do so.
The Archbishop also paid tribute to the first Republican President Kenneth Kaunda for working hard for an independent, free, united, strong and peaceful country for 50 years.
Archbishop Murat said Pope Francis had been guiding the Catholic Church to be more faithful to the Lord’s mission of proclaiming the “Good News” of peace and fraternity during his first year of service.
He said it had been a joyful task for the Catholic Church in Zambia to carry out the mission of proclaiming the “Good News” for more than a century and that it had offered its contribution of defending the rights of all Zambians.
“This contribution to the development and peaceful unity is still the objective of the Catholic Church in Zambia.
“The Church is for unity and works for unity, she does not like division and where there are differences, she does nothing other than invite for dialogue. Dialogue and patience construct love and peace even among those people with different ideas,” he said.
Chiefs and Traditional Affairs Deputy Minister Berina Kawandami said the first anniversary was not only significant to the Catholic Church but to all Christians and it also presented an opportunity to reflect on the friendship and cooperation at bilateral and multilateral levels.
“At the bilateral level, my Government recognises and appreciates the personal efforts of the Holy Father in contributing to the socio-economic development in Zambia. The Holy See has contributed to Zambia’s development agenda,” she said.
Ms Kawandami said the Vatican’s constant appeals for debt cancellation and uncompromising stand on poverty in third world countries had increased awareness of the many challenges that developing nations like Zambia faced.
She said at multilateral level, Zambia stood ready to continue working closely with the Vatican on international initiatives aimed at peaceful resolution of conflicts and socio-economic agenda.
Among other prominent figures present were Information and Broadcasting Services Minister Joseph Katema, Education Minister John Phiri, Health Deputy Minister Chitalu Chilufya and diplomats accredited to Zambia.

Times of Zambia

Picture by CHUSA SICHONE

What if by 18, you had lost your parents and siblings to AIDS, then contracted the disease yourself and told you had six months to live? Would you have the strength and courage to dedicate the rest of your life to philanthropic efforts? Princess (given name, not title) Kasune Zulu did just that – and Phonak, in partnership with audiologists Ken and Nora Stewart, are pleased to team up and lend their support for her latest effort.

This author, global ambassador and founder of the Fountain of Life has outlived her grim prognosis and has spent the past 20 years working to bring sustainable healthcare and education to her home country of Zambia in southern Africa. Her journey has taken her from the village of Chibombo in Zambia to presidential visits at The White House and speeches in front of the United Nations in her quest for support.

Today, a new leg of the journey continues with an 8,000-mile trip to Zambia together with audiologists Nora and Ken Stewart and 16 other participants. Phonak, the leader in innovative hearing solutions, hosted a sendoff for the team at its U.S. headquarters and outfitted the team with hearing healthcare supplies for the trip, including 6,000 hearing aid batteries.

The team will conduct a hearing health mission and assist Princess in her efforts to build the area’s first sustainable healthcare center. The Stewarts are owners of HearCare Audiology in Fort Wayne, Indiana who founded HearCare Connection, Inc. in 2011 as a nonprofit hearing center to provide hearing treatment to underserved children and adults who were otherwise unable to access affordable hearing healthcare.

“Job cutbacks and loss of income in our area had made getting treatment for hearing loss for some residents less affordable and accessible,” explained Nora Stewart, “We knew we needed to do something to change the outcome for these people. As a result, we founded HearCare Connection as a nonprofit hearing center with the sole mission to build the self-worth of individuals by restoring their hearing and providing them with opportunities to engage with their communities through service to others.”

About HearCare Connection
HearCare Connection, Inc. is a non-profit hearing center serving low-income children and adults with affordable and accessible hearing healthcare. Because it relies on the support of the community, the center incorporates a Circle of Giving into its patient care model. For every hearing aid patients receive, they are responsible for completing a specified number volunteer hours with a local non-profit or church as a way of thanking the community in supporting them. To find out more, visitwww.hearcareconnection.org.

About Fountain of Life
Fountain of Life provides transformational programs focused on healthcare and education that empower children, families and the community and level the playing field for the vulnerable (especially girls and women) in the rural areas of Africa, where over 60% of the population resides. The program allow those communities to take ownership and feel empowered through a long-term partnership which provides them with knowledge, skills and financial resources, along with hope for a better future. Princess Kasune Zulu, founder of the Fountain of Life in Zambia has been profiled in leading media across the world, including Good Morning America, Wall Street Journal, USA Today, Jet, Ebony, BBC World News, Guardian UK, Canada Sun Times, Irish Independent and ABC (Australia). To find out more, visit http://fountainoflife-africa.org.

About Phonak
Headquartered near Zurich, Switzerland, Phonak, a member of the Sonova Group, has developed, produced and globally distributed state-of-the-art hearing systems and wireless devices for more than 60 years. The combination of expertise in hearing technology, mastery in acoustics and strong cooperation with hearing care professionals allows Phonak to significantly improve people’s hearing ability and speech understanding and therefore their quality of life. Phonak offers a complete range of digital hearing instruments, along with complementary wireless communication systems. With a worldwide presence, Phonak drives innovation and sets new industry benchmarks regarding miniaturization and performance. To find out more about Phonak, visit www.phonak.com.

SOURCE Phonak

Read more: http://www.digitaljournal.com/pr/1907164#ixzz31EPJ8RdS

When President Sata makes a joke he doesn’t say “its a joke” afterwards. He just jokes and carries on. So in Livingstone today, I think that Mr Sata was just trying to entertain the audience when he said UPND planned to hijack him but the plot was thwarted by state security. It was a joke and the President likes to joke like this. Those of us who know him on a personal level know this side of him very well. Otherwise, who would believe that any opposition political party in Zambia would have the capacity to hijack the head of state? Of-course a political party can hire people to throw oranges, tomatoes or indeed stones from a safe distance – God forbid. So our prayer is that what President Sata said was meant to be a joke.

Finally, we call upon all political players not to allow the thought of attacking one another cross their mind. Violence begets violence and two wrongs don’t make a right. We pray that God will continue to inspire our minds to desire peace at all times and that we should always seek peaceful means to solve our problems and grievances.

Frank Bwalya (FB)
Alliance for Better Zambia -President.

Radio Mano

SACCORD also holds the position that dialogue between government and the opposition must be encouraged by all stakeholders who are interested in ensuring there is improvement in the general governance welfare of the country.

In an interview with QFM news, SACCORD Executive Director Boniface Cheembe states that his organization believes that government should also be receptive by way of acknowledging and communicating to stakeholders.

Mr. Cheembe says government misses an opportunity to resolve issues facing the country by choosing to ignore stakeholders seeking an audience with it.

Mr. Cheembe has since called for level headedness on the part of the sixteen opposition political party leaders and President Michael Sata as they seek to dialogue on the constitution.

QFM

The Secretary General of the opposition Forum for Democracy and Development (FDD) Nathan Mulonga has disclosed that preparations for the forthcoming national convention have reached an advanced stage.

Mr. Mulonga said preparations for the said convention started at the grassroots level, which are the lower organs of the party.

He told ZANIS in an interview in Lusaka today that after winding up with the grassroots levels, the process will go up to provincial level and finally the national convention.

He said the party will ensure that it elects people who will be able to revive the party in readiness for the 2016 elections.

Mr. Mulonga has since urged FDD members to fully participate in the lower organ elections when they start soon.

Opposition Christian Democratic Party (CDP) leader, Dan Pule, says is gaining ground and establishing its structures across the country.

Dr Pule says CDP is a party of the future and will be ruling the country after 2016 after defeating the Patriotic Front (PF) government.

He says the party is so far enjoying a strong presence in all provincial capitals, except for Muchinga and Kasama.

The CDP leader was speaking yesterday in Solwezi during a press briefing, shortly after meeting CDP North Western provincial leadership at a local lodge.

And Dr Pule said the CDP will make Christian teaching compulsory in all public schools because the word of the Bible has transforming and restraining power necessary for inculcating good morals in children.

He said Christian teaching is the only solution to the present problems of juvenile delinquency the country is facing.

He promised that once voted into office, the CDP will allocate 25 per cent of the country’s budget to the education sector.

He said the finance will be used to provide free education for a child’s 16 years of learning, while teacher training will be emphasised so that a bachelor’s degree becomes the minimum teacher qualification starting at nursery schools.

The Jesuit Centre for Theological Reflection (JCTR)says the projected maize bumper harvest of over 3.3 million should mitigate any further increase in mealie meal prices with the possibility of a downward price reversal in the immediate term and eventual price stabilisation in the long run.

The JCTR also states that in view of the projected bumper harvest, the recent lifting of the maize export ban should be followed with a close monitoring of maize outflows.

It says the tight monitoring of maize exports could guarantee smooth supply of the commodity to millers while ensuring sufficient availability of strategic reserves for the local market.

The JCTR has urged Government to ensure that the desire to export maize for various benefits accruing there from should not override national food security and sovereignty.

It has also called for the need to maximise the projected and reported bumper harvest to the fullest extent possible by ensuring significant reduction of post harvest losses and wastage from the previously reported 32% to the projected 5%.

The JCTR says this is tenable through timely provision of adequate, safe and clean storage facilities across the breadth and width of the country.

It however notes that notwithstanding the bumper harvest there is a potential threat to household coping capabilities arising from increased cost of living spurred by the recent 8.3% average increment in fuel pump prices and the continued depreciation of the Kwacha.

And the JCTR says the cost of living for the month of April 2014 as measured by JCTR’s Basic Needs Basket for an average family of five living in Lusaka has reduced to K3, 650.01 in April from K3,687.72,a favourable decrease of K37.71.

The JCTR attributes the decrease mainly to the drop in the price of dry fish which reduced on average by K20 per Kg, the price of charcoal which dropped by K5 per 90Kg bag and beans by K6 per Kg from the previous month of March.

It however says other domestic commodities showed marginal increases such as beef which increased by K3 per Kg and sugar by K1 per 2Kg.

The price reductions are generally attributed to seasonal changes especially as pertains to price reductions in fish which may be due to the lifting of the fish ban toward the end of March,while the price increases in non-food commodities is attributed to unfavourable exchange rate regime.

QFM