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Finance Minister Alexander Chikwanda not aware of any MMD printed fake K3.1 trillion

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Alexander Chikwanda
Alexander Chikwanda

Finance Minister, ALEXANDER CHIKWANDA has said that he is not aware of any fake three trillion Kwacha allegedly printed by the MMD ahead of the general elections in September last year.

Mr CHIKWANDA who was answering questions from journalists at state house initially refused to be drawn into making a statement but later asked the press if they had seen any fake kwacha in circulation.

Commerce Minister, BOB SICHINGA issued a statement last week alledging that the MMD printed three trillion kwacha to buy votes. But Mr CHIKWANDA asked Journalists to investigate the matter and establish if their are fake Kwacha notes in circulation either in the city or in rural areas.

Mr CHIKWANDA also announced that the Bank of Zambia has alert printers about Zambia’s intentions to print new notes. He said the printers will have to bid for the exercise adding that unlike the previous regime the PF government will go through the Zambia Public Procurement Authority.

Mr CHIKWANDA also dispelled fears that the creation of new districts will derail budget planning. He said that the realignment of the ministries will not affect budget execution for the affected ministries.

Mr Chikwanda has told journalists that funding to the ministries will be done in line with the already approved budget and that the ministry of finance will not release any supplementary funding to the realigned ministries.

Mr. Chikwanda has also clarified that the printing of the new currency will be funded by the Central bank and not the government saying Bank of Zambia has its on resources for such an exercise.

The minister was reacting to concerns raised about failure by the government to include in the budget an allocation for the printing of the rebased kwacha.

ZNBC

editor
editorhttp://www.lusakatimes.com

107 COMMENTS

  1. Mr Sichinga you have disappointed a lot of Zambians who held you in such high esteem. I honestly expected clean civilized politics from you. It would be nice if you stepped down on principle, than being sacked by the president, anyway our president seems not to have enough capacity to fire.

    • Bob Sichinga is right! MMD printed money full stop. The dilema the govt has is how to reveal it to the country without eroding confidence in the economy

    • I believe so too: The MMD printed money; but Bob has made a terrible mistake because the problem needed handling with care. The issue is not every mistake MMD made needs to be made public; we have won the elections, now is to knuckle down and work. I believe its true, but as a minister, he should have kept quiet as they dealt with the problem. Good reaction from BOZ and good reaction from Minister of finance. I am sure Bob has been told to accept redicule and keep quiet for now. Its fckn disgusting especially for those who are PF at heart

  2. Bob Sichinga must be careful about making utterances anyhow.It seems he has failed to make policy in his ministry under his jurisdiction and wants to hi-Jake the ministry of Finance. Please concentrate on your responsibility the Commerce ministry and avoid wild statements that can make investors loose confidence in the Zambian Economy.

    Dollar

  3. Bob please reminded that we asked two Investigative Reporters from UK Financial Times and Washington Post (USA) to quest you so that you can quantify your rhetoric.
    The Washington Post reporter being the former CIA Agent so that this cancer/tumour can be rooted out if at all the Chinese & MMD are culprits (which many of us have analysed that this story is NOT true looking at the Liquidity Cash Management from Bank Of Zambia)

    They will not stop until they get to hear from you. So don’t hide and please pick up your phone. Like many hard working Zambian and Local Investors that feel the plight of the unemployed youth, we are doing this to protect the economy from bleeding out to death.

    Cont…

  4. This what brings confusion in the country. Now he has to explain to the Zambians where he got that info obut the Chinese printing ” fake” money that we warn them sternly. And if they did not, heads will roll. In other words, let us have responsible ministers that will never create commotion. Already, the MMD have sued him and malila! It is not right for national leaders to portray such attitudes

  5. .
    I am not MMD, PF or UPND but just a Zambian that want the best for my people. Occasionally, I have supported “ideas” from MMD, UPND or so but overall I am not a Party Political Addressees’ or affiliated to any party bearings.

    If BOZ says only about K3 Billion was in circulation as 31/01/2012, where the heck are the rest of the Counterfeit notes? Mind you, K3 Billon is only about 10% of what you claim to have been printed. With that, Hyper-Inflation would have quadrupled making commodities to hike to the sky.

    Cont..

  6. .
    Bob come out clean on your statement. Only in Zambia can this happen. You deserve to be fired, unless Sata asked you to make this proclamation to diffuse your economical failures. Then again, anything is possible with PF looking at the current trend analysis.

  12. That is what happens when leadership of the country is run by one region. Zambia is a big country with big brains spread across the width of the country.We are no longer a proud nation that was meant to be.

  13. This is a govt that is morally bankrupt, incompetent, and disgusting. They should not take people for granted. It won’t be too long before they get the shock of their lives. This can’t continue to go on like this. Are they a bunch of children or what? If they can’t manage the economy they should just vacate and leave room for intelligent human beings with brains and 5 senses. PF seems to be a bunch of headless chickens that dump bodily waste right where they sleep. We have suddenly become a luaghing stock country in Africa due to Sata’s unbelievably i.d.i.o.t.i.c leadership. All these corruption allegations are just meant to dsitract people from Sata’s earth-shattering incompetence. Words fail me, to be honest.

  14. @ 8 SOSA SANA ——– I agree. I would rather have INDEPENDENCE OBSERVER to be the Commerce Minister (plus) Tourism for Zambia. He has broken barriers, a self made millionaire investor in UK having just come from humble background with sheer had work and intelligence. He is young and handsome too, than this Kachepa of a Bob Sichinga

  16. Good evening

    Why would the minister of Commerce ever come up with such a serious allegation if there was no evidence to back it up? The fact that the Finance minister refused to be drawn into making any statements also shows how unverified the story is.

    People expect to see more professionalism from their newly elected government, so they better make sure they stay focused on their roadmap to development. Let’s hear more about the policies that the Ministry of Commerce has enacted so far in order to drive the economy forward instead of issuing statements about fake Kwachas that no one has even seen yet.

  17. Bob said that commercial banks have since removed some fake kwachas from circulation.Where’s that lot of fake kwachas kept?? Bank of zambia should know!! AND the minister said a bulk of fake kwachas was intercepted at Nakonde border post: where’s that lot or loot?? I’m sure Bob knows what he’s talking about.

  19. I have always said this, and will say it again! If there are people who take Bob Sichinga serious, then its unfortunate. This man is very talkative but he does not seem to have the brains. The man is simply not smart. Unfortunately, these are the people leading our country! Truely, its Zambian In The Ditch!

  20. Bob Sichinga can talk! Non stop and very fast to confuse himself i wonder if he even thinks when he is talking and talking…….

  22. Caught wanting, pants down. I once held this Sichinga is high esteem but after this no, ku felile, mucaha ki sitotot!

  23. I think that there is serious need for discipline in the P.F. Govt. There is too much excitement leading to scandals. Instead of making MMD the black-sheep, the ministers should be working hard at making Zambia a better country. I see problems if this continues. Let’s pray for our leadership people of God.

  24. Sichinga is trying to create economic sabotage on the Sata regime so that it accelerates its failure. He knows that his behavior is tantamount to acts of economic sabotage so he has ranted to create economic panic, financial flight, in-confidence and investment freeze.

  26. The Zambian secret service needs to immediately correlate a lot on Bob Sichinga and see his clandestine activities since he established contacts with some 2 or so chaps in the UK fooling him he could be connected to some foreign agency to usurp power from Sata.

    I’m glad Hon Chikwanda Minister of Finance has dishonored Sichinga as a lunatic with ill intents against the country.Let him bear the fruits of lies and reckless mouth diarrhea.

  27. What a bunch of sillly ministers, one lies, the other corrects. then they do it again in reverse. This govt deserves to be impeached!

  28. I thought we had a bunch of incompetent ministers,i was wrong,they are actually a bunch of morons,they claim the opposition wants to assasinate them,then this,awe twanaka

  31. News is now becoming boring in Zambia. We are sick and tired of your rhetoric. Quite frankly no one gives a monkeys anymore of your witch hunt. We want to know how you will put more money in people’s pockets. Where is the next project coming from? we want to see plans on how you intend to build good new roads,schools hospitals etc. Property and company grabbing will only take us back to the Chiluba era. Zambia is a land of opportunities so please find your niche and explain how this will put more money in our pockets. “donchi ku bepa”

  32. As I have said before, I will say it again, this is a dysfunctional government. Everyone wants to be in the media and they do not check their facts first before they release statements. It is disturbing that the central bank nor the finance minister cannot agree with the commerce ministers statements and he continues to make them even though they have been dispelled by higher authorities. We thought by bringing in a new governement by replacing the thieving government of RB things would improve, but it is a daily circus in this new government and ministries been changed to please people because they fear to fire them. I wonder how much Kambwili is owed in loyalty before it expires and they get rid of him. Hmmm one wonders!

  35. Despite the Sichinga Nonsense, I can see change in Zambia, Brothers in Diaspora, our Friends are making Mula in ZED and there are a lot of opportunities. Money in people Pockets. VIVA SATA.

  37. Don’t blame Bob Sichinga, this whole issue was started by Sata soon after assuming power. I wonder why suddenly Sata is distancing himself. This is a bunch of unscrupulous people with totally no credibility. You’re such a let down and an embarrassment. I am sure Sichinga must be scratching his head right now. By the way, a nation’s ambitions are seen through the caliber of the finance minister. And this man Mr. Chikwanda just doesn’t inspire. The only reason he is occupying that office is because he is Mr. Sata’s cousin. We wouldn’t be far off actually to suspect they are looting public money.

    • To be honest with you, i like Hon Chikwanda he is very sincere, frank and honest. I listened to him during the ZICA-EAZ budget night, he really made everyone happy with his jovial like comments. Not everything old is old! he is like old wine.

  39. The false allegations over trillions fake currency printed in China by former MMD govt has caused untold damage to the Zambian Kwacha. The currency has lost its strength by 20% from the time this hulla baloo news came to the notice of the economic position in Zambia. MMD and China should sue Bob Sichinga and PF govt over these false allegations. MMD should further press Mr Sata to fire or resignation of Bob Sichinga as he is undesirable to be in any govt worlth its name. The damage caused is not only to Zambian economy and general public but PF govt where Bob is part of should squarely be responsible for this huge damage.

  44. elio does he know what it means to erode confidence in a currency thus making it worthless, because he is basically saying that there is twice as much money in circulation than what BOZ says to just gain political mileage against the former ruling party. remember they were the gov’t and not just MMD. Lets put zambia first and not being a minion as your priorities…. Cry the beloved country….

  45. Same monkeys,different forest.Hawa majambazi wa PF kazi yao ni makelele na upuzi usio na msingi.Mbona RB aliwacha uchumi ukiwa sambamba,mazao mengi na sarafu ya zambia haikuweza kudhoofika sababu ya hizo mabilioni? Ujinga huu.

  47. I wonder why you are all so worked up. I made that statement in my capacity as Bob Nkosha not Bob Sichinga. Dont you know that we are one and the same person? Just that these days, and for the next 5 years, I am more inclined to doing it the Nkosha way… ZAMBIA 1 COMEDY Naimwe…..

  49. I think I can now trust HH when he said PF are not ready to run the affairs of this country how many flip flops coming from cabinet ministers for that matter, kambwili says this GBM says something else do these thugs ever have cabinet meetings where collective agreements are made

  50. I now agree that PF will print fake money to prove that MMD printed fake money. Indeed what an embarrassment to PF and Sata. What a government of blunders

  51. Nevers Mu mba is a lia r and a mon ey lau ndering ma chine

    Him and the de puty Mr Nz oya are ste aling tax pa yers money. They had fired Mr Tem bo beca use he knew about this sc am and was aga inst it. They also have a office slut , Caro lina Rod- riguez who is also abus ing the money. The Ottawa Zam bian mis sion are th ieves

  52. Journalists have been tasked to investigate if there is any fake currency circulating. That is an interesting challenge to our cut-and-paste journalists indeed!!!

    • That’s funny, how can you ask journalists to investigate when the man making the allegations is around. Simply ask Bob Sichinga to provide the evidence in the form of samples of the fake notes. K3 trillion is a lot of bucks, surely he can manage to find just one fake note out of that mountain out there.

  53. Can someone please urgently report this lunatic to ACCA, to which he belongs, for bringing the name of professional accountants into disrepute.

  54. This whole thing was started by MCS when he just assumed office so it is not surprising at all that Bob uttered the same words.

  55. Fake money is in circulation. Check your notes properly at the bottom of the right side you will see the differnce. Unless Bob was mad otherwise he might be right.

  56. Sata before you can take the speck out of MMD’s eye please sort out your PF(Cabinet) eye 1st. And please stop their careless media prostitution. Not only is it unprofessional but stupidly gross

  58. Bob should be Fired with Immediate Effect………………..These are the cosequences of Employing recycled Staff. We have got Learned people that can do that Job. Mr President Sir, relieve this man of his Duties before he puts us into Trouble.

  60. I can’t help but to add voice to this very embarrassing revelation circus. I think and hasten to suggest that Bob should resign and save the good name of our beloved president and the PF party in general. What ever are the litigation costs to MMD, should be from Bobs pocket.
    I still have great confidence in our president but the excitement in the Ministers’ Camp should come to an end quickly

  61. Isa 57:4  Whom are you mocking? Against whom do you open your mouth wide and stick out your tongue? Are you not children of transgression, the offspring of deceit–
    Jer 8:5  Why then has this people turned away in perpetual backsliding? They have held fast to deceit, they have refused to return.
    Jer 9:6  Oppression upon oppression, deceit upon deceit! They refuse to know me, says the LORD.
    Jer 9:8  Their tongue is a deadly arrow; it speaks deceit through the mouth. They all speak friendly words to their neighbors, but inwardly are planning to lay an ambush.

  62. It is pathetic that the PF Govt is characterised by lies, deceptions, mismanagement, and failures. To crown it all the PF is the mother of NEPOTISM. Consider this scenario. Sata is the “asebele” of Bob Sichinga. Sata fires the majority of Permanent Secretaries but retains Dr. Sichinga – Bob’s blood brother and a former academic at Unza. For fear of being detected of practicing nepostism Sata clandestinely removes Dr. Sichinga from Govt limelight and sends this agriculturist as an Ambassador to an overseas Foreign Mission. Other cases of nepotism are too numerous to narrate. PF NEPOTISM AT ITS BEST. However, Bob Sichinga can exercise his human rights by exposing the “fake” money in the Courts of Law. GOD HEAR OUR PRAYERS!

  63. Too bad everyone is condemning Bob because of the remarks by Finance minister. Don’t forget that FM is most experience politician of all these people. He has served the government from the Kaunda days. He is asking the Journalists to investigate the matter. You see in Zambia we want easy answered to difficult problems.
    I will wait for the Courts to rule on the matter rather than depend on a politician. Every political party has surrogates, so you cant just fire these people like Bob and Kambwili because you need them to engage the opposition.

  67. Who could have told us the true if really they was fake monies in circulation?Finance Minister, ALEXANDER CHIKWANDA ,Commerce Minister, BOB SICHINGA or BOZ.So this info. from Bob was not cleared by Government for public consumption.Bob tell us the true,if BOZ and Finance have no clue.

  68. Away from the ‘fake’ money circus….”Mr. Chikwanda has also clarified that the printing of the new currency will be funded by the Central bank and not the government saying Bank of Zambia has its on resources for such an exercise.”

    OK, fine but this is a lazy answer. How much if anything will government (or BOZ?) have to spend on sensitizing people to the new currency? This is going to be an key part of the exercise to minimize shopkeepers from using the change-over as an excuse to hike their prices…. which I am sure many will anyway! Has anyone in Govt. thought about this aspect of the re-basing project or is that too advanced for PF to understand?

  71. MINISTER of Finance and National Planning Alexander Chikwanda has maintained that there is no fake money circulating on the Zambian currency market in a move that effectively contradicts a statement by his colleague Bob Sichinga at the Commerce and Industry who has announced a ‘recall’ of fake notes from circulation allegedly printed by China ahead of the September polls.
    The story has grown a life of its own sucking in the opposition MMD that now wants to sue over the fake notes and the Chinese government who have now cast aside diplomatic decorum and asked Mr. Sichinga to show evidence of any fake notes being printed by their country.
    Mr Chikwanda described the story about fake money being printed as a rumour when he spoke to journalists in Lusaka yesterday.

  72. What happens when such statements are made are two things 1. people both locals and foreigners loss confidence in the local currency and are not sure whether they are carrying genuiene or fake notes 2. They then prefer converting their earning into Dollars and other stable currencies. This raises the demand on forex and exchange rates raise due to high demand. This further devalues the local curriency. Mind you it was at 4,920 on 19 september 2011 five months down the line it is 5,250 and unstable due to such statements. Morally SIchinga should resign if at all he has any M.O.RA.L.S Being an I.D.I.O.T he is, he will stay on

  73. The circus continues, however, i should salute the bigman Hon Chikwanda for his truth. Enlighten them, those excited buggers who talk the talk for the sake of publicity without facts.

  74. In an apparent reference to Mr. Sichinga and the K3trillion, the Finance Minister said, “We have an eleventh commandment–do not comment on other ministers.”
    Conversely, the BoZ has also denied knowledge of the K3.1 trillion fake money which is reportedly in circulation.
    Head of public relations Kanguya Mayondi said in a statement issued yesterday that as of January 31, 2012, there was a total of K3.029 trillion in circulation. Mr. Mayondi said the Central Bank is concerned about the fake money reports. Is Bob telling us that we have K6.129 trillion in circulation.

  75. my NW region left out in politics, president work on this for wider participation.The PF until next elections will rule lets help, correct, expose them for gud results,Respect your vote,they are better than MMD but just requires organisation. HH went to bed with RB hes worse and shud shut up .Alot said on bob was on duty,lets have govt urgently correct this and move on with Development.PF you are capable.

  76. “asebele” versus Bob Sichinga.

    Bob Sichinga versus Alexander Chikwanda

    Bob Sichinga versus MMD

    Bob Sichinga versus Zambian people for an explanation on fake K3.1 trillion

  82. I JOIN CALLS ASKING BOB TO STEP DOWN ON PRINCIPLE AND MORAL GROUNDS…HE CONDUCTED HIMSELF UNPROFFESSIONAL THAT MAY LEAD TO MANY PEOPLE INCLUDING OUTSIDERS TO LOSE CONFIDENCE IN THE PF GOVT..SHAME ON BOB IF HE CAN NOT SUBSITANCIANT HIS CLAIMS

  83. @5 independence observer: BOZ states that 3, 029.1 billion ( Three thousand and twenty nine billion) Kwacha was in circulation, which is 3.0291 trillion almost the same amount BOB claims is fake. INTERESTING!!

  84. #19, Sata believes in Bob, recall Sata first made this allegation!! and Bob is Sata’s Minister.
    Can this PF circus for once start working (in 90 days).
    People need services. Wrong doers take them to court and shut up.

  86. #13 Gokigo Milazhe – How about putting money where your mouth is by returning to Zambia to make a difference? Or are you just another armchair critic?

  87. Fake money is there.The problem with the ruling party is that they do not have a spokesperson,so at the end Bob and Alex look like big clowns.
    May ask soft bums Dora to be spokesperson for PF.

  88. The quality of our counterfeit material is so good, 95% passes as the real thing.
    If you want some please contact me. We dished out billions of genuine fakes to individual MMD members as favours to keep our company continue working in Zambia.

  89. The MMD govt did print money in china which is currently in circulation and its legal tender, the issue here is the way the word “fake” has been understood, in the first place it was not necessary for the govt to print the money at that time, and the company constructed to do the printing was not the one govt have been using, it’s the MMD Ill intension that made MMD to print the money that was been referred to as fake ,

  92. So … is there fake money or not? Ba Sata, please get busy and do the job we have elected you to do. Making baseless accusation is not making you look good. 

    DO SOMETHING. 

  96. When a company/organization/club and for that matter a nation’s leadership is based on regionism or tribal lines just know that objectivity, reason and professionalism are all thrown to the wind. Sata your boat needs to be balanced if it is to cross the waters to the promised land. Look for help from south, east, west and North western provinces to form a credible canbinet, otherwise you sebele, uncles, neighbours in Mpika alone will drive you to nowhere. Sichinga, kambwili and Sampa so far what they have done does not build a nation and one wonders why you have maintained them other than the fact that they are closer to your Bisa roots.

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