DBZ Denies Writing Off K14bn Debt
Solicitor-General Musa Mwenye
THE Development Bank of Zambia (DBZ) says it has never received instructions from any quarters to write off the money which is subject of a case involving the bank versus JCN Holdings Limited, Post Newspapers and Mutembo Nchito.
DBZ Managing Director, Abraham Mwenda said the decision to discontinue the matter was arrived at on April 18, following the advice and guidance of the Attorney-General.
Dr Mwenda clarified in a Press statement yesterday that Finance and National Planning Minister, Alexander Chikwanda, did not instruct DBZ to write off any money.
“Our understanding is that the Honourable Minister of Finance desired an opinion of the Attorney-General on wider issues of public interest touching on complaints unrelated to the merits of the case but related to the conduct of the matter and public interest issues relating to justice delivery,” he said.
Some opposition parties on Friday called for the resignation of Solicitor-General, Musa Mwenye and Mr Chikwanda alleging that the two instructed the withdrawal of a court case in which DBZ sued JCN Holdings and the Post Newspapers.
Dr Mwenda explained that the letter of undertaking was executed by the defendants guaranteeing DBZ’s right to later pursue the matter.
He said the letter, which has since been made public to avoid speculation, was obtained on advice of the Attorney General’s Chambers.
The letter of undertaking from Nchito & Nchito Advocates, dated April 18, 2012, titled, ‘JCN ETAL AND DEVELOPMENT BANK OF ZAMBIA:2009/HPC/0322’ and signed by Nchito & Nchito, states that “We refer to the captioned matter and would like to undertake that when the matter is discontinued to enable the State review our complaint we will not object to the matter being recommended should the review so determine nor make a claim for costs.”
Dr Mwenda also emphasised that there was a judgment in favour of DBZ in this case but that the bank could not comment on the merits of the same because the matter was subjudice owing to the fact that there was a pending appeal over the same.
Post Newspapers Limited and JCN Holdings have been in court with DBZ over K14 billion which the bank is claiming arising from a loan.
[Times of Zambia]
This is confusing! Mwenda is not DBZ managing director, he was moved to be Ps at finance and the job has been advertised, so in what capacity was he speaking? Secondly, if there is a judgment, why should mutuna be suspened when the bank recognizes the judgment? And it is clear that muss mwenye and alexander chikwanda intered with this case and must be investigate for corruption!
And why is DPP still in office when he he owing Billions to the Govt as a businessman? Then why discontinue the case already in court when the parties have right to appeal after judgement?
Musa stinks!
Trying to confuse us with political or legal jargon? Just pay the 14billion if you borrowed the money. Its as simple as that. You can keep your DPP position afterwards.
this makes very sad reading,the POST and the DPP should not play around with legal termionologies to derail the due process of the law to take its course. the honuorable thing to do here is to appeal the judgement by Mutuna who i believe was not mad to have delivered a judgement on a matter which is discontinued as we are made to believe. The other thing is mssrs vincent malambo and company did make their submissions up to the last day does it mean it was on voluntary basis because these were hired by DBZ. this is so sad considering the fact that the president is on record calling the three lawyers (Malila AG,Mwenye SG and Nchito DPP) THE CRACK SQUAD and now they are worse than those of the previous regime.
More popcorn please!
Bottom line is pay back the money, dont confuse us with your political language here. Sha
Mwembe n Co..Will will not go scot free by raping the Zambian pipo out of 14billy, no matter what magic or power brocking that u employ. Watch your step….
Trying very hard, to cunningily hide their evil/corrupt ways. Thus, “the minister desired an opinion…blah blah …. public interest issues relating to justice delivery” – public interest is throwing away of K14Billion public money???! What do u take Zedians for?
“Dr Mwenda also emphasised that there was a judgment in favour of DBZ in this case but that the bank could not comment on the merits of the same because the matter was subjudice owing to the fact that there was a pending appeal over the same.” Some1 says judgement was passed on a discontinued case, DBZ says there is a pending case – who’s lying to who? Lets combat corruption wholistically!!
Amen!
Bakabwalala just pay back the money for Mwenda u are just a **** how do you accept to be used at the last moment when everything is already exposed whom are trying to cheat here ZAMBIANS ARE CLEVER NOW and are gone scientifically u hv been cort up in your own web
read todays post. Editorial Mmembe says we are illterate because sells for post are down
Criminals have regrouped and and are ready to tanish the image of our country. They are ready to defend wrongs and plunder our resources. Only if God could intervene!
why dont these guys want to pay back the dough….pass me the ash tray please!!!!
DBZ Managing Director, Abraham Mwenda said the decision to discontinue the matter was arrived at on April 18, following the advice and guidance of the Attorney-General.
isn’t this contradiction from Dr Mwenda. he said he did not receive instruction and in the same breadth says he discontonued because of advise from Attorney General.
This is extraordinary indeed how people can want to still public money in broad day light. Nchito and Mmembe persecuted FTJ for stealing public money. And why should they be made not to pay back public money?
Indeed more popocons please.
Chief Bootlicker, there is a difference.advice and/or guidance, and Instruction.
It’s called FIRM ADVICE. Heed or be gone. Cowards don’t instruct, they advise and pressure you to act. Our parastal heads won’t resign on principle, zed is a small town so they obey political masters for self preservation
Small time Mafias trying to screw the country! Well this is a raw deal, pay back the money period.
The Post On-Line should just be taken down. It is an embarrassment. The site is always down and when it is working, it takes so long to load. It is also rarely updated on time. At the moment it is broken. No newspaper self respecting newspaper would allow their website to be in such a state. As for the issue at hand, it was politicized from the time RB and MMD tried to ‘fix’ The Post. Usually banks would simply call in the loan and seize any assets used as collateral. Instead RB turned it into something else and put pressure on DBZ to go after assets which were out of scope. You cannot keep destroying businesses and jobs to settle political scores. Don’t forget that the Post employs a lot of people!
Perhaps DBZ can seize The Post and sell it on as a going concern. But we know what MMD wanted to do. They wanted to shut it down. That would have been a setback for press freedom in Zambia.
Selling the Post would be a very good move and many of us bloggers would buy shares there and help the flow of information in the country thereby promoting press freedom!
Interesting…countrymen, how come all these press releases surrounding the DBZ, corruption and Judges cases have very well written legal English and have the same writing style as though drafted by the same person???
Dr. Mwenda is former Managing Director ba LT , whatever the case money has to be paid back
We still don’t really know who is presiding our national issues. In other words, Zambians are still in limbo as to who really is the president of Zambia full in control of national affairs. Mr Sata arrived in state house from a number of platform promises and pledges to Zambians. One of which was to fight corruption and Zambians welcomed this view strongly. Mr Sata is totally a different person today. He hasn’t got what it takes to fight corruption and his spineless with the pay back syndrome. While we need refom in the judicial system, he is actually using people who are themselves corrupt to fight corruption. He will fail both the fight and the battle. Surely we have had enough of this mediocre perfomance from Sata and Zambians are let down.
Zambians who find this vacuum un settling have the right to accuse Mr Sata of lacking convictions to fight corruption and riding on the victimhood of zambians is slowly proving to be deceptive. A number of sympathetic commentators with clear loyalty in the beginning have started to speak out to challenge this void created by Mr Sata. To many this is betrayal of their loyalty to him. Mr Sata’s apparent weakness is his greatest dilema of balancing his rule. We contend, its true he lacks vision, commitment of true values to bring development in the nation, other than his personal fulfilment as head of state. This achievement is not an end in itself. He is, therefore, largely ineffective in service delivery to which Zambians vested their trust based on his words. Lessons are there for us.
# 19 & 20 Complexity, I guess you do not know your arse from your elbow either.
No need to get your knickers in a twist. Tribunal starts siting this week. They might be able to explain why your mouth has taken over the function of your rectum.
If only you can read your contribution and that of your target, complexity, you will understand what I am trying to say. Wisdom does not cost a thing… Grow up!
It’s shameful to read about the involvement of M’meembe the chap who has written so mush about corruption yet the fellow is corrupt himself.No wonder he praised Ukwa so much following the appointment of N’chinto ,just imagine commentary on that appointment. Now we know the truth.M’Meembe and N’chinto full time crooks supported by Ukwa the Constable with so much power of hire and fire. GOD plse save us from these three crooks.
This story was concocted at ToZ, hence the incoherence. JCN, Post, Mmembe, please bring back our money asap.
now people can see the hate between HH and Mmembe.Mmembe has always wanted to put down HH because HH has refused to be used by Mmembe over this matter. Time will tell. VIVA HH the up right man.
Abraham Mwenda doesnt seem to know what he himself is saying. Somebody might be bullying him.
Uyooo kawalala uyooo DPP Uyoooo Liato kawalala Uyoo Mmembe Uyo Dora…..kawalala..kekekeke monkeys in a maize field called zambia.
Is this why Mr Mwenda applied for the job in Uganda…..hmmm makes a lot of sense!
HH should read this!
Lol these guys are caught up in a web of deceipt!This is a gud article to present to the tribunal to show that something is wrong!Its full of contradictions.
Mr President sir you dont owe these guys.Dont try to fight their battles.You have nothing to gain but lose.
This whole saga will definitely come back to haunt this administration. I’m of the view they tried to pull a fast one and sweep this dirt under the carpet to protect their DPP and beloved Fred. But alas, Zambians have become more alert and critical of these politicians.
Having read Judge Mutuna judgement, I support his ruling looking at the fact that the matter has been adjourned several times. The defendants have not shown proof of payment from the time the loan was obtained. Adjourning the case just to establish why the matter was given to another judge in my view is irrelevant. The issue at hand is that the loan has not been paid and to discontinue a case on the basis of trying to establish how the case moved is rather fishy
If fred n dpp get away with ds money,this will be the begining of MCS’s downfall!
Our appeal to our presido Mr. Ukwa Sata, please let Mmembe and Nchito use u…..1 Let go very fast. u dont owe them nthing boss.
Fourteen billion Kwacha is a lot of money by Zambian standards, Development Bank Of Zambia should never be allowed to write off this money. It is our money and those debtors should be made to pay, no matter how well connected now, justice and the long arm of the law will catch up with them, well eventually. Ask Dora Siliya.
Mutuna’s ruling is as accurate in every sense of it’s word. It’s also true that the defendants have not paid a single ngwee as per the judge’s ruling. This story has been bust wide open and it’s so disheartening to see justice being under-mined.
And as for Musa, this boy has alwasy been a punk since primary school. I know him personally and I know he has been bewinkled by Sata because of his position as SG.
This case just stinks. The simple bottom line is, pay back the nkongole as ordered. WTF is the debate all about kanshi?
#16 &17 MUKAME. Sir, I am lost as to what you are trying to say here. The Post Newspapers printed 1,063 Anti-Rupiah Banda editorials in three years making allegations and casting aspersions which were mostly false. In all those three years Rupiah Banda did nothing about the Post. He never closed it down or ban any editions and neither did he send police to their offices as Chiluba once did. What are these strange allegations you are making about Rupiah Banda harrassing the Post. Rupiah Banda is not in power. If the Post had any facts about Rupiah Banda’s misdeeds they would have reported these to the Police and had his immunity lifted. They have not done so. Please stop feeding on propaganda and stick only to facts.
The fact is simple Minister of Finance saw it fit to instruct SG Musa, which is purely innterferring in the justice system. What if the Miniter of Finance did not interfer, would the SG have done what he did, that is instructing DBZ to discontinue the case? the answer is simply no. PF you are not dealing with people of the 50s we are know what you are up to with regards to the king maker Mmembe, you want to make Mmembe to be above the law in this country hence to be untouchable. We refuse to subscribe that nonsense. Hopefully you get it this time around.
the government has a 40% stake in DBZ which means K5.6 bn. and this is the money Mmembe wants to get for free. why harass Liato who only barried K2.1bn whose sources we cant even trace and are in no position to prove that he stole it? is taxpayers money this cheap? i am hurt as a massive taxpayer. GRZ should not even harrass those who evade paying tax coz they just waste it in the end.
Having gone through the postings above not even blind loyalists have commented for what this govt stands for in this case. PF and Sata watch the space and start transforming you stand a good chance to be like RB who only understood what people wanted when he was out of govt. HH and Chipimo start aligning yourselves for this vaccant job in 2016
The other question which should be looked into is: Why did Judge Albert Wood take such a long time without passing judgement? This resulted in the case being taken away from him. Is it because of his friendship with one of the defendants as it is being alleged? As many have already stated K14 billion is a lot of money and it should be repaid. Definitely there is no hiding place for Mmembe and Nchito; the next government will make them pay back the money.
They gave them FIRM ADVICE. Heed or be gone. Cowards don’t instruct, they advise and pressure you to act. Our parastal heads won’t resign on principle, zed is a small town so they obey political masters for self preservation
I can safely predict the list of people who will be prison when the KWA government is removed. These guys are trying to loot from a bank owned by the people of Zambia. Had they borrowed money from Barclays or Standard Bank would the government officials , AG and the Minister of Finance been involved?
Looks like the Chitos and Gang want to loot using our Government and Judicial system. This is worse than treason. Looks like the RED CARDS have to come out before the end of the term.
The POST newspaper need to come clean, you get the sense thet their support for KWA was conditional and not all in pursuit of a better and democratic Zambia. Makes me feel like throwing up!!
What a circus. Mama ine sure!
The Solicitor General has acted legally and most professionally to ensure that DBZ retains its right to pursue the matter in Court, as did the Hon Minister Chikwanda. The issue is why did the Judge proceed with the Judgement instead of asking DBZ in public interest to state why the case was being discontinued. The Solicitor General needs to be commended for ensuring that the undertaking was provided for even after 5 years of PP rule or 10 years or more DBZ can still demand the amount owed plus interest.
Hon AB Chikwanda, MP is a patriot who has been seized by unconventional circumstances. Sir, my prayers are with you. He is perhaps one of our most illustrious elders and totally non-tribal, ask all Tongas who know him well. Sir our respect for you will always be firm and intact. And my good Doc, A Mwenda. Just like your young brother, Jeff, you are an upright man doing what a loyal servant does for his master. Of course you left DBZ a long time ago but now you have to pen name as ‘Managing Director’ from your seat in MoFNP where you are PS. My man, this game of politics is not for the faint hearted. I too pray that World Bank comes right for you!
We are just Bantustans.. Even in honey we make sure sodium carbonate is present full stop.
@Lovermore Chipoka,
Please be serious. How can you claim that the SG was correct to advise on discontinuing a case before the courts? When you do that, that is the end of the case…right to resume the case??? Where have you heard of such a thing? The courts have processes to deal with such issues and a judge has full authority to determine whether their is merit in delaying tactics deployed by Lawyers. Eventually, he takes a firm position to ensure a case is dealt with. M’membe and Nchito are using every trick to avoid paying a due. Why should the SG, never mind the Finance minister, be giving advice or seeking it in a civil matter of debt recovery? The simple truth is political interference to protect Sata and his cohorts..
Just tell me when is Fred Mmembe paying back the 14 Billion that he has stolen…period!
#32
Having read Judge Mutuna judgement, I support his ruling looking at the fact that the matter has been adjourned several times. The defendants have not shown proof of payment from the time the loan was obtained. Adjourning the case just to establish why the matter was given to another judge in my view is irrelevant. The issue at hand is that the loan has not been paid and to discontinue a case on the basis of trying to establish how the case moved is rather fishy
Comment: we at the pf secretariat are disappointed too and sad that the rot is starting to grow from within.