DESIGNED FOR SUCCESS
TBY talks to Vatice Mushauko, CEO of Inzy, on the company's standing in the sector, capitalizing on the middle class, and the importance of art for the economy.
BIOGRAPHY
Vatice Mushauko was born in Zambia and studied computer applications and media studies. He was an entrepreneur from an early age, and when he returned from the UK, he decided to follow his passion and open a media firm pioneering the photography and videography industry in Zambia. The success of the business has led him to work with presidents, organizations, and high-profile people. Currently, apart from the media agency, he owns an investment brokerage firm and is also in real estate.How has Zambia's media industry been affected by the economic slowdown of the past year, and what is Inzy doing to ensure it maintains its stable position in the market?
The past year has certainly been a difficult one for the sector. The sad fact of the matter is that as money runs short, one of the first industries to see cuts is the arts. However, that is not to say my outlook in the medium term is negative. In fact, on the whole the scene is developing, albeit not at the pace that is ideal. In media, there is no room for stagnation; if a company is not innovative and forward-thinking then it can easily disappear. With the rise of social media, everyone is a blogger or a journalist, and there is no longer any differentiation between professionals and amateurs. To have a foot in this environment as a professional media outlet, it is vital to carve out a niche and set ourselves apart from the rest. Inzy has already made great headway in giving itself the edge over other productions. For example, we are responsible for the visuals for the winning presidential campaign, coverage that included all aspects of media production and development: brainstorming, design, photography, development, strategy, and execution, as well as media management in terms of media buying, too. This is not the first time we have been the manpower behind such a production either: we also contributed to Michael Sata's previous winning campaign. Such success is born not only of hard work, but also experience, resources, and capabilities.
What is being done to capitalize on the growth of the middle-income segment in Zambia in terms of developments in real estate?
As Zambia's middle-income segment becomes stronger and more impactful, demands in real estate change and providers and constructors have to adapt to this new scenario. People in Zambia have higher disposable incomes; travel and technology have become more affordable, people experience greater exposure generally, and the world is becoming smaller. Now, the average citizen does not just want a living space; they want a house that is part and parcel of a whole lifestyle. Furthermore, we are working with a singular set of characteristics that define a country such as Zambia. For example, unlike China or Dubai, usable space is certainly not limited here. Because of that, the traditional still tops the list: big houses and swimming pools. Here, there is no need to build up, and for that reason Zambia does not have skyscrapers popping up on every corner as is the case in other parts of Africa. However, there is still a housing deficit of 3 million, which means that for next few years there will still be room to maneuver within the market and there will still be demand for middle-income solutions.
What impact, in real terms, can art have on the economy?
For the economy, art is key. In the US, India, China, and Nigeria, one of the biggest exports is art, whether that be media, music, or films. Art can be social food, and that in turn feeds into the business landscape of a country, which means that art indirectly aids development and can also directly boost GDP. Because of this, our leaders need to prioritize art and to be seen in the public eye to be doing so. I cannot recall a single Zambian initiative in the arts that has come from public sector management, which leads me to believe art is not being prioritized. What is worse, it may be being overlooked. That being said, there are many astounding projects being launched with private-sector backing, and there are also plenty of self-taught and self-driven people trying to change this culture with their own resources. This alone, however, is not enough. We need support, platforms, and opportunities from the government and stakeholders.
DESIGNED FOR SUCCESS
TABLE OF CONTENTS
Year In Review
What A Year
Zambia has long been a bastion of stability in Southern Africa, and while its economy has been rocked in recent years by the falling value of copper prices, a devaluating kwacha, and high inflation, through the Economic Recovery Program the government has bold ambitions to right the ship.
read articleReview
Convoke, Confound & Collect
Squeezed between a rock and a rather hard place by the slowdown in Chinese demand for copper, by far Zambia's biggest export and government-revenue generator, President Lungu has been forced to get creative in his country's alliances to broaden revenue streams and lessen its dependence on the vagaries of one foreign market.
read articleGuest Speaker
Dr. Stergomena L. Tax, Executive Secretary, Southern African Development Community (SADC)
TBY talks to Dr. Stergomena L. Tax, Executive Secretary of the Southern African Development Community (SADC), on regional economic development, boosting pan-continental free trade agreements, and improving security through mutual development.
read articleInterview
Susan Sikaneta, Ambassador, Zambia to Ethiopia & Permanent Representative to the African Union and Economic Commission for Africa
TBY talks to Susan Sikaneta, Ambassador of Zambia to Ethiopia & Permanent Representative to the African Union and Economic Commission for Africa, on championing peace across the continent, advancing women's rights, and promoting Pan-Africanism.
read articleInterview
Sebastian C. Kopulande, CEO, Zambian International Trade & Investment Centre (ZITIC)
TBY talks to Sebastian C. Kopulande, CEO of Zambian International Trade & Investment Centre (ZITIC), on taming austerity, stimulating sustainable growth, and creating the framework to support entrepreneurship
read articleFocus: Zambia Plus
Adding it All Up
On October 20, 2016, at the 2017 Budget Address, Finance Minister Felix Mutati launched the government's economic recovery program, christened "Zambia Plus." The program is designed to spur domestic productivity, through strengthening ties and collaborating with external donors and developers.
read articleReview: Banking
Macroeconomics Rule the Roost
In its ongoing efforts to diversify away from one principal commodity, copper, the government fosters the development, standardization, and efficacy of the private sector. In doing so the systematic support of the financial universe, especially banks, is vital, as is the goal of financial inclusion.
read articleFocus: SME Growth
IMF support program
An IMF support program stands to provide Zambia with some much-needed discipline on its expenditure and operational efficiencies; however, many caution the need for Zambia to determine what it wants to achieve and how the program will benefit the country.
read articleInterview
Christabel M. Banda, Executive Director, Insurers Association of Zambia (IAZ)
TBY talks to Christabel M. Banda, Executive Director of Insurers Association of Zambia (IAZ), on the evolution of the local insurance landscape, raising awareness, and tackling challenges in the sector.
read articleFocus: Solar
Sunny Side Up
As power demand continues to rise and power production continues to fall behind, it's the same old story for Zambia, still wrestling with an ongoing energy crisis. Public- and private-sector drives are seeking to mitigate this deficit by activating the country's solar industry.
read articleInterview
Margaret K. Chalwe-Mudenda, Director General, Zambia Information and Communications Technology Authority (ZICTA)
TBY talks to Margaret K. Chalwe-Mudenda, Director General of Zambia Information and Communications Technology Authority (ZICTA), on new projects, the ZNDC, and expectations for the year ahead.
read articleInterview
Hon. Dora Siliya, Minister, Agriculture
TBY talks to Hon. Dora Siliya, Minister of Agriculture, on the investments being made in agriculture to enable agricultural households, diversifying Zambia's basket of produce, and making international markets more accessible for local producers.
read articleInterview
Hon. Charles R. Banda, Minister, Tourism and Arts
TBY talks to Hon. Charles R. Banda, Minister of Tourism and Arts, on the wealth of tourism destinations within Zambia, efforts to bring more visitors to the country, and what the Tourism Development Fund will contribute to developments.
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