Editors Remarks

This editorial introduces Issue 13 of Excel Magazine, focusing on the importance and challenges of entrepreneurship in driving economic growth and job creation. It highlights the resilience required to build and sustain businesses, while celebrating notable Zambian entrepreneurs and their impactful journeys.

The issue also features inspiring stories, including a young innovator developing affordable sunscreen for the albinism community, and a new book offering practical insights for aspiring entrepreneurs.

In the trending section, key topics include youth empowerment through the Imisepela App, declining inflation in early 2026 as a sign of economic stability, insights into Zambia’s bond market performance, and the “Brand Zambia” campaign aimed at strengthening national identity and promoting the country globally.

By Diana Kabaila Chief Editor

Greetings, and welcome to Issue 13 of Excel Magazine. A special thank you to our features, team, collaboration partners and readers.

Entrepreneurship births enterprise – small, medium and large. Entrepreneurship is not the easiest career path, creating gainful employment for self and others, meeting statutory obligations, scaling the business, attracting investors, gaining market share and maintaining relevance, requires a lot of sacrifice and resilience.

In Issue 13, we celebrate ENTREPRENUERS EXTRAORDINAIR entrepreneurs whose journeys motivate to action, those that need to hear from others, that have walked paths before them, and whose businesses have created solutions for society’s real problems. Excel Magazine celebrates the entrepreneurial journeys of Mr Davies Kabuswe, Executive President Sun Broadcasting Holdings Limited, Mr Mkhuzo Mwanza Founder and Chief Executive Officer for Zambezi Diamond group and Ms Nkandu Beltz, Founder and Chief Executive Officer for Beltz Mining.

In our spotlight is a young genius, entrepreneur in making, Mwape Chimpampa the 4th recipient of the Excel Foundation Seed Capital. Mwape’s invention is sunscreen, motivated by her own skin condition, Albinism, her father unfortunately did not have access to sunscreen and died from skin cancer. She is determined to make sunscreen more affordable and accessible to the Zambian Albinism community and many more. Excel Magazine wishes Mwape success as she works to fulfill her purpose.

Under Excel Book Club, we feature a new book on the market, titled Entrepreneurship in Zambia, a dialogue between corresponding authors that bring their combined 25 years Industry experience in entrepreneurship to the table. The book is loaded with helpful insights that are curated to equip aspiring and young entrepreneurs with knowledge to better equip them for their entrepreneurship journey.

TRENDING TOPICS

Imisepela APP

Building capacity in the youths through job creation, skills development, knowledge transfer, working capital loans and encouraging entrepreneurship is the fastest way to reduce crime rates and poverty, and boost economic growth. An investment in the youth is an investment in the future of our country.

Excel Magazine is elated to learn of the Imisepela Youth App that brings all these opportunities to the youths of Zambia through the application of a mobile app.

Inflation

Q1 of 2026 has recorded a downward trend in inflation in the single digits averaging at 7-9%. According to the consumer price index, the cause for deceleration was softer price increases, majorly in food items and non-alcoholic beverages.

Stable inflation signifies macroeconomic stabilization and sound money. It aids long term economic planning and boosts investor confidence.

The Overs and Unders – Zambia’s Bonds subscription outcomes

According to Bank of Zambia (BOZ), Bond subscriptions indicate investor demand, relative to the amount offered. BOZ often reports on subscription rates, where longterm bonds can have different subscription levels compared to short-term, indicating shifting investor appetites.

Key Aspects of Bond Subscriptions

Oversubscription (High Demand):
Market Signal: Suggests strong confidence in the issuer (e.g., government), potential for higher future interest rates, and high demand for safe assets.
Allotment: Investors may receive fewer bonds than they requested because the demand exceeds the supply.
Impact: Oversubscribed bonds often list at a premium in the secondary market.

Undersubscription (Low Demand):
Market Signal: Indicates lower confidence in the bond or the issuer’s economic prospects.
Allotment: Investors often receive the full amount of bonds they asked for.
Impact: Can lead to a lower total amount of capital raised, or, in some cases, the issuer may decide to cancel the issue.

Brand Zambia

Operating in the communications ecosystem gives us an appreciation of the power of a good brand, and how it builds credible reputation that reduces the need to persuade. And so, when the President of the Republic of Zambia, Mr Hakainde Hichilema, launched the “Brand Zambia” campaign, the message was clear, “Strengthen National Identity”. Consistent Positive communication about our country both locally and internationally is the responsibility of all citizens, government and private sector. The aim is to boost tourism.