Zambia and Kuwait have signed a $14 million loan agreement for establishment of an ultra-modern Teacher Training College in North-Western Province.
The agreement was signed in Lusaka between the Zambian government and the Kuwait Fund for Arab Economic Development, whereby the Fund will extend a loan of $14 Million for financing the establishment of the planned Teachers Training College.
Acting Secretary to the Treasury Felix Nkulukusa signed on behalf of the Zambian government, while Hamad AI-Omar, Deputy Director-General of the Kuwait Fund for Arab Economic Development signed on behalf of Kuwait.
The loan agreement is for a period of 24 years, preceded by a 4 year grace period.
Speaking at the signing ceremony Mr. Nkulukusa said the aim of the project was to improve quality and increase access to teacher training education through establishment of a Teachers Training College in Science, Mathematics and Technology.
He said that the Project, which is expected to commence during the first half of 2014 and is scheduled for completion by end 2015, will contribute to meeting the country’s demand for Teachers in Science, Mathematics and Technology.
Mr Nkulukusa assured Zambians that the acquisition of the loan facility does not in any way expose the country to unsustainable debt burden.
He said that the Treasury is mindful that borrowing within national and international limits is necessary to ensure that Zambia’s debt burden remains manageable.
Mr. Nkulukusa stated that the implementation of the project would reinforce the implementation of government’s nationwide economic programme which is aimed at creating one million jobs within five years from 2011 to 2015.
Speaking on behalf of Kuwait, Mr. AI-Omar disclosed that the project involves the construction of buildings and infrastructure, and the supply of furniture, educational equipment and tools.
He explained that the total cost of the Project, including contingencies for quantities and prices is estimated at $20 million.
Mr Al Omar said that the Kuwait Fund will cover about 70% of the total costs of the project while the remaining costs will be covered by the Zambian Government.
Kongole for useless projects. Don’t hide in calling them utra-modern what what… Sata and PF suck!!!!!!!!!!
imagine!! kongole everywhere,, shuwa!!, Iraq, Libya, china,,, the list is endless.
why does Sata like kongole so much???
Its true that sick people… ill people like kongole very much,, just in case they wont have to pay back the kongole??
Kuwait might aswell have deposited it in the old man’s acc (Sata) If I knew I didn’t have long to live I would borrow and leave that burden to future generations. Would I care? Hell no!!!
Nothing wrong with this as long as you pay back
dont just criticize without offering alternatives. teachers are in short supply especially in the subjects mentioned.
What the govt has done is an investment for the future, to improve education quality, and consequently bring development to the country.
kanshi imwe ba kabalwe finshi mufwaya?
People who obviously have nothing better to do than complain on LT
Ok sounds reasonable on face-value, I wonder what the interest is, if its under Islamic laws there may not be interest, if so, its a fair deal.. All depending on the interest.
Chikwanda and Sata are auctioning Zambia left right and centre.
Zambia is training enough science and maths teachers. The problem is retention because teachers are not well paid and so they leave Zambia for greener pastures.
Just the countries Zambia is associating.. so scary mwe.
Some people don’t even bother to read the article before commenting. They are simply a bunch of loosers sponsored by their UPND. You will never rule our country. Vingombe imwe.
@Gen; while it may be true that teachers in those subjects are in short supply, the truth is, so long as the government continues to pay teachers or any professional meagre salaries as compared to politicians, the government will continue to train and the graduates will seek to work where their labour is appreciated. A roll call in neighbouring countries that pay better for the same amount of work will indicate that these same maths and science teachers are trully well and happily empolyed in say Botswana, South Africa, Swaziland, Namibia etc. Get down to the basics, its not rocket science and dont tell me about patriotism. Let the politicians be patriotic and take a pay cut and do away with all this gratuity nonsense. Patriotism should be a shared responsibility.
@Nostradamus Naimwe bakamba, so its ok for Zambia to associate with Muzungu countries, how come then you don’t worry. Muzungu countries are the ones you should be worried about, because they are crooks, when you take loans with them its a case that they are more than likely bent on dominating us one way or another. Don’t be blinded by color, Muzungu countries are finished in any case, chalipwa end of. We better get used to eastern and Islamic nations now, as they are the ones will be dealing with more and more in the future, in addition to the dragon China. Personally, I prefer these Islamic nations because what they say will mean just that, than the foxy, tricky west…
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@nostardamus – ati dobo ka??? LOL
Let the college offer BSc programmes and not diplomas
Kamo! jdeme na pivko:-) V zambie je Kurva v?c!
And thats the problem of our country today,while we dwell on what papers one can achieve other progressive countries focus on how productive is one ,regardless of papers which i admit can be important if combined with productivity.Zambia has now more “educated” people but our problems seem to be multiple than we had with few graduants.Partly it is shear laziness.People in high offices with higher qualifications(on paper)simply using their positions to lazy around.Productivity is the key.How i wish salaries would be measured by productivity then we would progress as a nation.
Uyu nkulukusa mu kongole ka! Zambia is full of foreigners in important positions. That’s why the country can’t develop.
This Nkongole should not even be publicised. $14M is money that be raised within a short span of time from mining taxes and other local revenue collections. If only the leadership shows seriousness with saving for viable projects. Evidence has shown how public funds were being misappropirated with the “Zamtrop saga” and wasteful by elections. Unless we r saying nothing has changed…..then ‘kaloba’ is justified.
Nkulukusa is congolese. Hence nkongole. Ama congolese balekongola money for Zambia.
He is Lenje from ten miles. Why so boza abwidi imwe?
at last northwestern is being remembered. place it in Balovale please. as a deliberate move to spread development to some of the forgotten parts of this beautiful country.
thanx.
But a GRACE PERIOD OF 4yrs tht mean the Govt whch will take OVER in 2016 will foot the BILL.
Nkulukusa I trust u but on this one I am DOUBTING YOUR CREDIBILITY. Nkongole everywhere even from SMALL COUNTRIES.
Get nkongole even frm local BILLIONAIRES in our Country.
PLEASE REMOVE CHIKANDA(CHIKWANDA) FROM FINANCE THIS IS THE SAME MAN WHO LED KK’S GOVERNMENT TO BORROW TRILLIONS OF KWACHAS FROM OTHER COUNTRIES. YOU WILL ALL AGREE WITH NAWAKWI WHO SAID THE MINISTRY OF FINANCE IS IN WRONG HANDS.
SURE ? I DID N’T KNOW ,IF SO ,PLEASE DO NOT KEEP HIM !
Chikwanda and the nephew in plot 1 don’t mean we’ll for Zambia. The earlier we remove them from power , the better otherwise BAisa mukwiba big time,!!!!
Uyu Nkulukusa mu lenje. He is very fluent in lenje, inkongole ba PF.
Nkulukusa is a succesful intelligent lenje young man, very honest and down to earth. He is an example of the wisdom of promoting from within the Civil Service. I salute him. Jealous aside. The President has done very well to promote and retain some civil servants with good qualifications and experience. Alas, a good number of highly trained (by tax payer money) civil servants have been ditched, prematurely retired on flimsy grounds only to be replaced by inexperienced individuals through manipulation of the appointing authority. Who says the President cannot be manipulated by unscrupulous people especially when the system whihc is expected to advise him choses to be inept? He is only human. THE LOAN IS APPROVED, BUT PLEASE EMPHATHISE ON MATHEMATICS, SCIENCE AND TECHNOLOGY.
God bless.
too bad things wll b very hard in th next five years so they can’t even thnk y th previous gvt didn’t borow th money. b coz they cared for this beutful country for sure its realy animal farm
Why not just reduce the number of deputy ministers, reduce the salary of cabinet ministers and shelf those plans for constructing those stadia and you will find $20m to build this college. Then again this is rocket science for one fossil Chikwanda he only believes in signing on the dotted line.
Jay Jay….
Especially the Mongu Stadium!!
It’s not needed, not at this time anyway……!!
24 years? This is not being responsible, ba pf you are the lost Gvt ever. You guys jst want 2 punish our generation because what you are doing means i will steel find that kongole in office when i become a minister 8years from now. Selfish baboons
A bigger punishment for the next generation would be to leave them a country without schools, colleges, universities or infrastructure. $14million is nothing compared to the GDP that can be unlocked from economic growth within a period of 24 years.
It should be seen as a source of encouragement whenever the government is investing in education because it is investing in the people.
too bad things will b very had for us in th next five years so thy cant even thnk y th previus gvt ddnt borow, its bcoz thy realy cared for ths beutful country. Its realy animal farm.
Why college and not university? Why discriminate against north western? Shame
Two Universities in Muchinga and one s.t.u.p.i.d.y teachers training college in Northwest. Let those with eyes see!
2014 +24=2038.most of Us wil be dead by 2038.this means our duty now is to pay nkongole.as a result of huge nkongeles hh or nevers or abz wil be giving us excuses saying we cant aford to deliver as per compaign promises because the previous regime(pf) under late sata left a huge debt which we are paying back.
The saga continues
Huge debt we are servicing due to cash borrowed to build a school in my area! thank you PF ,but redesign it into a university so that my cousin Ndobo and his other friends can be enrolled instead of cleaning up in clinics in Europe.
Very factual,honesty and with a vision,u are a rare breed.
borrowed development! he knows he is a one term president (live or dead) so MCS will borrow until no1 can lend to Zambia anymore.
That way, the next 5 govts will ever be struggling to pay back. then the masses will say “chali ichaume”, he brought “chali lets ‘duveopend’ my Zambia”!!
borrowed development! he knows he is a one term president (live or dead) so MCS will borrow until no1 can lend to Zambia anymore.
That way, the next 5 govts will ever be struggling to pay back. then the masses will say “chali ichaume”, he “chali leta ‘duveopend’ my Zambia”!!
Do we really have a tax base in Zambia? What revenue do our copper resources bring in if to develop anything we need a loan? A loan for this, a loan for that. Loans up to our neck?
@ free spirit, I agree with you. If copper and all this mining going on cannot bring development then there is no need to have investors, they shouldn’t even disturb our national park by putting a mine there. Does it mean that with all the technocrats in PF, can’t they come up with national strategy of developing this country using local resources to develop this nation. Zambia has enough wealth to develop itself. Borrowing in itself is not bad, but you can’t have a situation where you have borrowed everywhere. Whenever the government makes a ” freindship” with someone, the next thing you is they have borrowed! Where will money to pay back come from and that will very negative effects on the economy.
How possible is it to plan, design and build an ultra modern college in 12 months and spend $14 million? I fell to understand. With our current GDP, do we have to wait for 24 years to pay off such a small amount?
More borrowing!! Doesn’t this government know how to make its own money, all the resources in the country yet we are still borrowing or letting others profit off our own resources! Those mines make billions but this government would rather borrow! Lazy government I say, that is all!!!
By 2016 we will be swimming in deep debt up to our eyeballs due to voting in some village *****s.
My children being sold into slavery!
Bala cow alishupa.
No one is being sold here ba Ben kangwa, when you borrow and invest in education you are just forward.Not only because its in my home area but I will be haapy it’s done anywhere in Zambia…. education means empowerment,loan repayment methods will be initiated by these same intellectuals from these newly built schools.
This money is not being borrowed to invest. It is being borrowed to pay for Satas medical expenses in India and London! And even when he is dead, Zambians will have to repay the debt.
Wake up! PF is a government of theives whose policy is only to EAT our money!
Credit should be reserved for the the party that will be in office when the debt falls due. PF may not be in office then.
Can the economists stand up and give a comprehensive analysis on the implications of this kind of borrowing please. Nalema kumvela nkhani zamu nyumba ya moba. No “parking lot economists” either, please. Only the real ones!
OPPOSITION CADRES,
YOU CLAIM THAT ONE OF THE TWO, THE PASTOR OR THE PRIVATIZATION MAFIA, WILL DEVELOP OUR COUNTRY BETTER AND FASTER THAN THIS CURRENT GOVERNMENT.
THE QUESTION IS: HOW ARE THEY GOING TO DO IT WITHOUT BORROWING? AND WHICH AREAS?
APART FROM EDITH, HAVE YOUR EVER HEARD THE TWO GUYS INCLUDING THE FATHERLESS REF CONDEMN THESE LOANS?
Maybe its just me. i thot the subsidy was suppose to take care of all this projects and makes sure we have enough savings for future investments. Borrowing?!! Yes we need money for capital investment but only when we adequate. This is not just about borrowing because gvt wants-to! it about making that permanent resolve now and the future. Why is it different from the Levy approach were we tirelessly worked in making sure the debt mountain was dealt with and we had sufficient into our reserves
CNP as usual. Why not borrow to put Higher learning institution? People of NWP have been craving for a university but alas we have once again stubbed them at the back.
So every three months the PF govt has to get nkongole! How much nkongole are we going to have come 2016? These chaps don’t care, after all they won’t be there to answer anything (they are dying soon).
Why borrow $14 for nwp when nwp is bringing in millions of dollars in taxes from the mines? where are you pf taking the taxes coming from nwp? we don’t want islam export to nwp in the name of building ultra modern college. why build a college when you’re building 3 universities in Luapula and Muchinga?
Our current government really frustrates me,surely Konkola copper mines made huge profits amounting to about 300 million dollars last year -2013 and the government is busy getting inkongole for the so called Teachers Training College. When are we going to start benefiting from our own natural resources?
Bonse muli ba chabe chabe! Time wasters with nothing to do. Waste of space and time reading ALL of these comments. Which country does not borrow? It is the terms of borrowing that are the issue. Clean your arses before you comment!
Stone age thinking.. do you think we will easily get to that point without making the tough decisions? it takes money to make money do not deceive yourself. Which finance did you study? take a minute and think without having a political party or any person in mind. it will be very helpful trust me… even for your well being
PF Leader,
People are not just criticising for nothing. How do you go to borrow for the sake of it, when you can surely afford without borrowing for such projects. There is lack of proper planning with current . Zambia can surely afford by 1. avoiding wastage of money through useless by elections, 2. prioritize available funds to needy projects than Stadium in Mongu and Muchinga, 3. Avoid pilfering of National resources through arrangements like state house based RDA and fertilizer procurement scam 4. avoid unplanned and politically driven projects like two universities being built at once in Muchinga Province
since when did countries that are under developed like Zambia develop without borrowing? The issue is not borrowing , the issue is the return on the investment. Kenya has GDP to debt ratio of 49.6%, U.S.A @121.70%, UK @88.70%, [email protected]%, Japan @238%, Zambia @31.20. ifyakulandalandafye ukwabula ukutontonkanya bwino bwafya. Some people are just bent on pure evil, you dont want to see anything good. Even your own balance sheet is higly geared but trying to be the moral teacher of the government. why dont you focus your attention towards ensuring that government accounts for the money they are borrowing and not just whining? infact blogging too much is a sign that nefyakuchita tamwakwata, you think every brain is docile like yours. only good at utopia keyboard politics and ideas.
Well spoken young man, the ONLY blog in LT’s history that is sensible.
@Professolle. Those figures may be true but statistics can say anything you want if not taken in the correct context. Could you also provide us the comperative figures of the civil service to private enterprise employement ratios. Further provide the statistics of the ratio of civil service salary to GDP the you will begin to see how much the Zambian civil service out strips the GDP leaving little money to use for other developmental activity. If the ratio you banded around was as rosy as you want us to believe do you think $14m would be money the government would borrow. We are cash strapped! Until Zambia inreases its tax base and the civil service is reduced and increase of the private sector, we as a nation will continue to have little spare money for infrastructural development.
Stone age thinking.. do you think we will easily get to that point without making the tough decisions? it takes money to make money do not deceive yourself. Which finance did you study? take a minute and think without having a political party or any person in mind. it will be very helpful trust me… even for your well being
what happened to that excess US$64 million that was borrowed from China where they said they were yet to find where to use it? Luapula Premier, did you know your government borrowed from China without identifying where they were going to use that money and now they are borrowing this 14 million while the 64 million is still unallocated? What logic is this?
Why can’t we borrow and contract the Chinese to find a lasting solution to power outage and water shortages am sure they can fix our problems pronto. On this ‘loan’ I wonder whether when Felix goes before the Public Accounts Committee he can tell the nation what plans are in place to repay the loan.
and most of these chaps wont be there in 24 years time,we damn you sata your government!!!these are long term problems if you dont know
NWP already has a teacher training college in solwezi, why not try a science and technology college to compliment the mining industry
This loan will fund their 2016 elections. Zambians wake up, you have been taken for mugs long enough.
That money can be used for better projects in NWP than what they are talking about.
E.g – 10% can be used to open hydro power in Zambezi to stop the generator power using diesel for that promising town. 10% open up a small university to supply engineers for the developments in the area. 15% open up a soft drink major plant to take advantage of abundant pineapples, mangos and oranges. 15% modernize chavuma border with Angola to increase trade between the two countries- this will increase supply of cheap petrol,diesel, rice etc from that area to benefit the province. 10% – modern toll gate after solwezi as you head towards lumwana and kalumbila mines.
20% invest in housing projects- low cost but quality structures in anticipation of boom in population.
Professolle, you are wrong. The fact that every developing nation has survived on borrowing is not a justification for borrowing. Most of these borrowing by the so called developing nation is for the benefit of the politicians. How do you borrow money to build a road in Mufurila when you have mines there that are producing minerals? Which of these countries that have borrowed can we really say their economies have become viable like those they borrow from? Sir, lets differentiate from being a political cadre and having the nation at heart.
Inkongole ema ARV,use that loan from China imwe twapapata,ibange !!
HIstory is learnt so as not to repeat any mistakes made in the past or do even better the good deeds done in the past.In the recent history of our country we learnt how deep we were in debt.How about the SAP still fresh in our minds?While the intentions may be good,i believe the better thing to have been done noe is to work within our means.Improve the already existing structures at lesser costs and more importantly encourage a productive carriculum more than the academic or theoretical one.Here i mean skills training in order to incourage production of real goods and services .In a country where we lack research centers and technological labs and insttutes what will the graduants do other than look for jobs outside the country`s boundaries?Invest in practical skills.
Its a shame..this sort of apprach only subjects the Nation to unending slavery to whoever they awe..this mindset will never develop coz the future is traded for the present , they are looking for quick rets at the Nationpense ,all wrong economics…
plz there is already a teachers training college in N.W.P why not school of mining since the province is reach with mineral resources and its lucking skilled workers when it comes to working in the mines we want mets , mining engeneres etc not teachers nwp is full of teachers already mps reject that stupit decision
ths z luck of creativity and innovation by our govern bcoz $14mil z raised by individuals in da world in less than a year thru different venturez! Why cant da governmnt oso find ways of rising money othr than always borrowin if 4such small amounts. Its a shame
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