The opposition Forum for Democracy and Development has observed that the appointment of new Bank of Zambia governor will not yield any tangible results if president Edgar Lungu does not replace Alexander Chikwanda as Minister of Finance.
And the FDD has called on mining companies to study the motive behind the minister’s stance on mining taxation before making any hash decision.
FDD President Edith Nawakwi says the effectiveness of the new BOZ governor will not be realized because there is a miss match between the Ministry of Finance and the Bank of Zambia.
Ms Nawakwi who served as the first female Finance Minister observed that keeping the current minister in his position is costing the country and that president Lungu had the best opportunity when he was just elected to replace him.
“The effectiveness of Dr Kalyalya will not be realized because there is a miss match between the bank of Zambia and the ministry of finance. We need a clean sweep if we are going to make any new gains.”
“I want this country to know that we have repeatedly gone beyond the boundary of commenting to drew the attention of the nation to the fact that the current leadership at Ministry of Finance is not taking us anywhere and our position will not change unless there is a change at ministry of finance it doesn’t matter whether you change people in subsidiary departments such as Bank of Zambia, the policies of Bank of Zambia and Ministry of Finance must be able to move in one direction,” she said.
The opposition leader further observed that the current stance by the Minister begs a lot of questions as there is no way the Minister can be telling the mining houses to pack and go when the country is broke and in need of the jobs and little foreign exchange they are paying to the Bank of Zambia.
She noted that the action of the Minister amounts to coup de tart on the mines and that the country may one day wake up and realize that there are a cluster of new investors known only to the Minister of Finance alone adding that the Minister might be strategically positioning himself.
“As far as we are concerned as a political party the position on mining taxation that the Minister has taken amounts to a coup de tart on mining. He is already a player by way of him being one of the suppliers.
“As an individual we may go as far as saying the minister is taking a strategic position on this issue were we may find out that the new partners will be known only to him and could even turn up to be his friends or indeed his partners if things are left unchecked.”
“It is the matter of public record that minister of finance is a supplier to the mining houses but the President Lungu has gladly reappointed him to the portfolio when he had the best opportunity to either relive him of his duty or reassign him to another portfolio.”
“It appears to me that the minister wants the best of both worlds of the private sector and the public sector and appear to be in service to this country when he is engaged in total destruction of the little we have attained to date one needs to just look at the way the kwacha is behaving,” Ms. Nawakwi said.
Meanwhile, Ms. Nawakwi has advised mine owners to study the minister’s motive before they make hash decisions and lose their investments in the country.
“The mining houses must be aware that all the sweat and toil of prospecting, preparations, investing and starting to mine in the respective areas will go down the drain if they actually react in a negative way to the Minister’s stance without studying the underlining motive that he is undertaking.”
“Why on earth would the minister of finance want his partners to pack and go when we all know that at this point in time the country is bankrupt. The country is so dependant on the jobs and the little foreign exchange that trickles to the bank of Zambia from the mining sector.
“Why would any minister of finance in Africa after such hard work of mobilizing investment in all these mining houses would stand up and tell these mining houses to pack up and go unless has an underlying sinister motive which as I have said amounts to coup de tart.
“Unless the minister has in fact prepared investors who are standing by waiting to step in and pick up these asserts for no investment that they have undertaken.
“I don’t expect that this is the way to treat major partners in any country. We believe that this strategic position which the minster has taken to use mining taxation to evict current mine owners has selfish implication and does not have the best interest of the country at heart. Why would the president continue to tolerate such politically and economically motivated strategies while the country continues to slide down the tube,” she noted.
The opposition leader further called on President Lungu to show economic leadership and sort out the economic mess that the PF government has brought in the country the last three years of their rule.
This FDD/NAREP surprises me at times,when its election time it becomes the opposition to UPND,but after election it becomes opposition of PF! WHY?so 2016 it will be opposing UPND!
Is Nawakwi saying we should continue this culture of inhaling all the mining dust, fumes and taking of craters on our land albeit without any form of equity to the people? These mines are making fortunes out of our resources which sadly the likes of Nawakwi are propagating to give away free of charge. Is it a surprise that resource-less islands like the UK are filthy rich with castles everywhere on the back of exploited natural resources of Africa? For how long will Africans continue selling their birth rights for crams?. Go to Switzerland, Bangalore in India and fastest developing China cities using African resources. You will then appreciate the need to gain from our resources.Who will speak and fight for my Grandmother in the village, widows and all orphans if all choose to trait?
@ Ganja Farmer, I must say I am equally faced with the same dilemma!
Blind support is not required in any country. Even those who support the party in power should criticize wrong decisions. Just because I support UPND does not mean I will agree with everything they say or do and just because I don’t believe PF has what it takes build and unite this country does not mean I will always oppose everything they do. The winners in this political confrontation or checks and balances should be the people.
Chikwandas position on the mines is driven by selfish interests. Either Chinese or Katumbi want to take over these mines. That in itself may not be a bad thing unless there is corruption involved.
Let us not condemn Nawakwi. It may not be that she hates the Mr. Chikwanda. Let us face it Chikwanda has messe up our economy and he continues to do so. We need new brains at Finance. I entirely support the President’s appointment of Denny Kalyalya but not Mr. Chikwanda as Minister of Finance.
Nawakwi: wait for the date in the very, very unfurthomarble future for when to dictate terms to anybody. In the time of fdd. This time its PF calling the shots! POLE SANA!
@Chitutuma
Perhaps you are of little education or an opinionated and unreasoning cadres to have missed the gist of E Nawakwi’s concern.
In my philosophical studies the likes of Aristotle / Socrates had reservations on democracy and posited that the hoi polloi should be governed by nobles. And exactly that is what you have in Zambia where the masses continue shooting themselves in the backside and slide continuously into deeper and deeper poverty. The govt they put has no agenda to take them out of the guagmire of poverty.
If you have two pence worth of possessions you would have been concerned that as time goes by your net value is being eroded by the foreign currency/Kwacha melt down.
You are either a hoi polloi, pf corybant or a scrounger of govt freebies.
@@Salamat
Don’t waste your breathe on Chitutuma. Guy know less than nothing about statecraft.
This is constructive criticism meant to build the country, not what our old useless minister is telling mine owners to do.
Nawakwi: wait for the date in the very, very unfurthormable future for when to dictate terms to anybody. In the time of fdd. This time its PF calling the shots! POLE SANA!
Cannot agree more with Nawakwi. The economics of 1950 which Chikwanda practices cannot resolve the current economic dynamics of the 21st century.
How painful and heartbreaking for anyone to buy or import anything into Zambia. God help us though it is always a created mistakes by ourselves. God help Zambia, Amena
My cry as well. Is Chikwanda using juju to remain in that position? It’s very clear to everyone that this man is a total failure yet he continues being in the position. Please twapapata send him into retirement
Chikwanda is the custodian of all Sata’s foreign Bank accounts and knows all Road contract deals,including dirty money that was used in 2015 elections.Thats why he can not be removed.Sata when he was still alive warned him from resigning that he will send boys to investigate him.PF is in power to eat like what my grandfather Munkombwe put it .
Your analysis madam is very correct. I have long suspected Chikwanda wants Katumbi to take over these mines. You can imagine what a tragedy that would be!
Can a dinosaur survive in this time and era
The type of mining chikwanda remembers is that of section boss, shift boss, mine captian etc. How does such a man fit in todays business processes
Nawakwi is a wise woman
But she always tries to undo what HH preaches no matter how good. I do not know what to think of her, tribalist or anti tribes from North Western Rhodesia.
I m glad that it is someone else saying this because if HH said exactly the same, he wud have been a tribalist. Unless some pipo have no eyes, this country is technically broke. You need investors in good standing like lumwana. The best I’d to engage them thru the chamber of mines. Chikwanda knows NOTHING about mining and I agree he is unfit ss Finance Minister. He does not inspire me AT ALL.
It is just the policies that matters most and not the people running the institutions or ministries. If PF and BOZ have bad policies it will not change anything because the people in the positions are simply doing what has been laid down or rather planned. Therefore ABC is not a problem at all. It is high time we focused our criticism to policies and not the individuals because we can change them several times but so long the policies are bad, nothing will change.
The entity to propose those policies you allude to is Min. of Fin. in the name of ABC.
Another thing, making policies is one thing , it is another to effectively implement them. In the absence of political will, and Denny at BoZ, the load will be weighing heavy on one side.
And who makes those policies? The minister is the presiding officer of the ministry! If Chikwanda is allowed to continue in that office, he will do major damage to our economy. Remember SI33, and SI55 during Sata’s time? It was Chikwanda making policy!
@Observer you are one of them.Who makes policies if not those in government like Chikwanda.Is not true that those Guys are paid to come up with good policies?So what are trying to tell as that we are fools or dull?Chikwanda is to blame.
It’s not the New governor to blame, it’s the president, coz Of, kamwendo munjila, in a month he has made so many trips, including going to mfuwe, Angola twice Zimbabwe ,
, we don’t next trip, its all money, which Zambia does not have, even kongoloshing Mugabe, shame
@ 11, how can a husband snatcher be a wise woman. Ist what she is saying which is wise or its snatching husbands. Now let me educate all of you with slow punctured brains that are supporting nawakwi’s tantrums, this woman was finance minister and led us through the worst economic time of all times. She spent her time and energy financing her illicity affair with another woman’s husband. If she looking for a job let her do it decently not in the manner she did it grabbing that husband. A country’ s economic agenda is set in motion by the head of state not finance minister. Chikwanda has done well, look at the infrastructure its why upnd supporters dont want him coz he will accelerate development
Some people think the noisier you are, the wiser you are. Nawakwi thinks talking about chikwanda all the time is being wisier, in fact this same BoZ governor she is praising, qualified as he is may just turnout to be a retrogression of progress due to his excessive dwelling on theories, principles,ideologies, the sises, modals you name it. I would rather have the Sata way which can give me results in a fast and shortest possible time than theories that give me results after 50yrs. I would rather have chikwanda who knows the economic needs of this country, who can give me a higher PAYE tax free amount than a husband snatcher who squeezed everything out of me when she was finance minister to finance her illicit affair as TONY BLAIR says.
You are narrow minded. No credible issues to talk about other than attack personality. You should be an angel.
Bwana Editor it’s spelt as
Coup d’ etat please.
Lusaka Times? You will be tired correcting the grade 7 English! Just give over!
Personally I see no reason why the fossil shouldn’t continue in that ministry. The field of economics and business are are not as dynamicas Iis the field of marketing and technology. Figures and theories remains the same while policies vary depending on the govt current strategy. Alexander was there, he’s here and will be there. He has the necessary qualifications and experience to to see and comprehend the economic status . What you need to understand is that policies derive good economic values and not the person. A bad minister can perform better where good economic policies are framed.
Madam Nawakwi may have a point but the truth is that she subscribes to the pf ideology but hides as an opposition leader. Come 2016 she is ready to auction her party if she is offered a position of vp. Why should she oppose her fellow leaders in the opposition during elections time and this time around turns to say the pf is not doing fine. I doubt your political principles madam Nawakwi . Just support President lungu
Nawakwi is just seriously looking for a job from Lungu period.
I think best we can do as a nation before we fire chikwanda is to findout the spiritual implication behind the name of our currency kwacha. There is demonic influence behind kwacha, lets change the name of our currency. KK and a few others know the meaning of kwacha while majority zambians are ignorant about the demonic covenant behind our currency, national anthem, names like Zambia, mulungushi etc. Zambia is Christian nation, chuluba was hated by the post newspaper, because he declared Zambia a Christian nation, FTJ was not a thief or criminal he was hated by m membe because he refused to intiated by the catel, this is why up to now fred me membe still calls chiluba a criminal. God used chiluba to break satanic convents zambia entered into just after indipendence in 1964, the catel have…
Nawakwi ku kombelela!
Her MMD govt sold the mines for a song, now she is doing it again. On this matter, I support Chikwanda. Let them go if they don’t like our taxation system! They have already recouped their investment through convoluted ways of marketing. This is always what happens when the Mining companies want to arm twist the government, copper prices fall. Ata se!
Does Edith Nawakwi want to be appointed as Minister of Finance? She has always talked negative of Mr. Chikwanda as if she did better than him when she was under MMD. She is just talking crap, there is no substance in her usual negative talk. Go to the kitchen and cook Nawakwi, husband grabber.
It wrong to personalize policies. The link between MoF and BoZ is professional and not personal. If it comes to right sizes like clothes, then MoF ought to make the choice. Not the other way round. Stop antagonizing individuals working hard for the development of the nation. Stop demoralizing government officials. If there is theft by servant, then arrest the thief and take the thief to court. It is shocking to transform the death of one leader into an opportunity to raise non issues with intention of creating confusion in government circles.
Nawakwi has neither manners nor respect. TO HELL, WHERE YOU BELONG!
Guys,
Please give Hon Chikwanda the benefit of the doubt.
The poor guy is performing adverse conditions.
I doubt if he gets more than 4 hours sleep per night.
My advice is to keep him….FOR CONTINUITY PURPOSES.
Ministry of Finance is too fragile to be tampered with!
It’s so ironical for this FDD leader to want to score political mileage over this mining issue when she needs to be protecting the interests of Zambians. We are the only country in the world that is scared to terminate contracts which do not benefit us all in the name of jobs etc. Clearly, there are so many mining conglomerates that would step in. When Nawakwi was Finance Minister she set up a Presidential Slush Fund for FTJ. For the benefit of those that dont understand this here is the definition of a Slush Fund: slush fund
noun 1. (Government, Politics & Diplomacy) a fund for financing political or commercial corruption or a sum of money used for illicit political purposes, as for buying influence. Can the she explain her wisdom and what was realised from this??
You rate a minister of Finance (macro level)on the following like a Chief Financial Officer of a firm (micro level) and then add the soft issues like perception in risk and strengths of the country to down wet or overweight his performance
1. Growth in the economy rsulting from policies-Fiscal and Moni
2. Inflation-cost of doing business and savings
3. Current Account-How healthy is the Book
4. Fiscal Deficit-Outflows and Inflows, savings and Budget
5. Financing-What methods to finance that gap or refinance
6. Monetary Policy Stance-what is the initiative short-term
7. Financial Sector Stability-How stable
8. Financial Sector Development.-Learning from above what capacity
You could add more Its fair…
performance by the minister but like a business going concern you listen wake up to the new challenges reposition to take advantage of those strengths and risks
Always reconfirming your forecasts and adjusting in view of regional and global outlook rebalancing to ensure attainment of those projections on the accounts
It is very clear to all that the following individuals are more powerful than Lungu in as far as directing the agenda of the PF and government polcy-
Wina
Kambwili
Nsanda
And of course PRESIDENT CHIKWANDA the MUGABE of Zambia. Lungu is scared of these power brokers he wouldn’t dare touch them. Makes us wonder who is in charge. We told you so.
The untouchable four. Wina, Nsanda,Kambwili and President ABC. These my fellow Zambians are the real power of Zambia. After Lungu publicly directed that gove should negotiate with the mines and find some common ground the president mr ABC came out and said the new tax ragime is here to stay. Has anyone even coughed after that. State house zeeeeee! ZRA zeeeeeeeeeee. Ba fresher Mwanakatwe tried to sneeze a word on the issue she was told to basically stop talking in her sleep. Lol Ati president Lungu! Let lungu try to shake up the touchable four and see what happens. He is better off taking trips and vacation while they do what they want.
Loadist! you made me laugh
Nawakwi has a point and if Lungu does not take it seriously, wait and see what will happen to our economy. We have a Finance Minister who is a LANDLORD to all of us. If he is not changed , I tell you that all of you will cry and wished it was done immediately. this man needs to be transfered to another ministry or else we are doomed as Zambians. I personnaly saw nothing wrong with Ngondwe, we are leaving the calprit within our midst. He has become the Donkings of Zambia in financial issues.
The minister’s agenda is to shut the mines in the north west period….don’t argue they were shut before……
The Central Bank is in charge of Monetary policy while the Ministry of Finance is in charge of Fiscal Policy. The two policy frameworks must be well coordinated. In the absence of policy coordination the efforts of each policy body may be frustrated by the actions of the other. This is what is happening. There is fiscal indiscipline in PF. This is frustrating the efforts of colleagues at BoZ. This is why the exchange rate, interest rates and inflation is sour under the PF because the monetary policy is not being complemented by fiscal policy. These two are supposed to be supplementary and complementary to each other. Dr. Kalyalya is bound to fail if he does not get the necessary policy support from Chikwanda. This is free advice (consultancy) which otherwise you should be paying for.