Zanaco operating normally – Veep

VICE-PRESIDENT Guy Scott says Zanaco has continued to operate normally and is recording steady growth despite a commission of inquiry constituted to investigate the sale of its majority shares to Rabobank of Netherlands.

Dr Scott said assertions that there is tension at the bank following the constitution of an inquiry are unfounded. He said Zanaco’s capital has grown to over US$102 million and that 54 percent of the bank’s shares are locally owned.

“We are not aware of the tension in the bank because it is growing leaps and bounds despite the commission of inquiry,” Dr Scott said.

He said this in Parliament yesterday during the Vice-President’s question time.

He was responding to a question from Liuwa member of Parliament (MP) Situmbeko Musokotwane (MMD), who wanted to know why Government has delayed in releasing the report on the commission of inquiry on the sale of Zanaco shares.

Dr Musokotwane said the delay in releasing the commission’s findings is creating instability at the bank.

But Dr Scott said the bank’s operations are still going on smoothly despite the commission of inquiry’s report not having been released yet.

And Dr Scott said once the report is made public in due course, it will be tabled before cabinet for consideration of the findings.

Dr Scott said this in response to a follow-up question from Solwezi West MP Humphrey Mwanza (MMD), who wanted to know if Government is aware that the silence over the report of the Zanaco commission of inquiry is scaring investors.

And Dr Scott said he is President Sata’s chola boy and that he has no problem with that.

Dr Scott also said he has no problem with being referred to as chola boy (bag carrier) because it is not an insult.

He said this in response to a question by Senga Hill MP Kapembwa Simbao (MMD), who wanted to know if the Vice-President has lost confidence in his position after being referred to as a chola boy by Patriotic Front (PF) secretary general Wynter Kabimba.

“Obviously when I’m with the President, I’m a chola boy and when the SG (secretary general) is with me, he is a chola boy,” Dr Scott said.

And Dr Scott said police should deal with trouble makers in the run-up to next week’s parliamentary by-elections in Livingstone, Muchinga and Chama North constituencies.

He said this in response to a question from Kabwe Central MP James Kapyanga (PF), who wanted to know the measures Government has put in place to curb violence during campaigns for the forthcoming by-elections.

And Parliament heard yesterday that the Zambia Police Service recorded 599 homicide cases countrywide from September last year to February this year.

Of these, 244 cases were committed to the High Court while the rest are still under investigation.

Deputy Minister of Home Affairs Ngosa Simbyakula said this in response to a question from Chilubi MP Obius Chisala, who wanted to know the number of homicide cases recorded during the period under review.

[Zambia Daily Mail]