Cabinet has approved the contraction of a low-interest concessional loan of US$14,000,000 from the OPEC Fund for International Development to improve water and sanitation in 100 villages in all the 16 districts of Western Province.
According to a statement from State House, the loan contraction was approved at Cabinet’s eighth meeting held today.
The loan will attract an interest of 1.75 percent.
The statement said the project will comprise the construction and rehabilitation of water and sanitation infrastructure to enhance hygiene and clean water supply thereby improving the living conditions of the people of Western Province.
Cabinet noted that rural water supply and sanitation is critically essential in the improvement of people’s health.
President Edgar Lungu has since directed ministers that more investments in water and sanitation must be directed at rural areas in order to bring about equitable access these essential basic services.
Cabinet also approved the establishment of a Bilateral Treaty to establish the Malawi-Zambia Trans-frontier Conservation Area to enhance the management and conservation of wildlife and other natural resources across the international boundaries.
President Lungu also briefed Cabinet on the Summit of the African Union Committee of Ten (C-10) on the Reform of the United Nations Security Council which Zambia will host from 8th -10th May, 2015.
Meanwhile, Cabinet has also approved a Bill to repeal the Companies Act in order to strengthen corporate governance, align corporate law with relevant laws and national development aspirations including the promotion of foreign direct investment.
The new Companies Act is designed to enhance government policy on economic empowerment of citizens and the development of micro, small and medium enterprises.
The bill aims to simplify the registration procedures and reducing the cost of forming a company.
The new law will be aligned with other pieces of legislation that came into effect after the enactment of the Citizens’ Empowerment Act and the Zambia Development Agency Act, which are aimed at promoting greater citizens participation and promotion of foreign direct investment.
The 1994 Companies Act is no longer in tune with international best practices following the evolution of corporate law, which has placed a lot of emphasis on good corporate governance.Â
Several Government studies have revealed the need for reform of the business licensing regime particularly the simplification of the process of company incorporation.
The Companies Bill 2015, which will be presented to next sitting of Parliament, promotes transparency and high standards of corporate governance by clearly articulating the role of directors as well as providing a legal framework for the modernization of the Companies Registry.
Cabinet also approved the introduction of the Insolvency Bill 2015 to provide for personal bankruptcy, insolvency and receivership thereby strengthening the obligations and duties of Insolvency Practitioners.
Following international best practices, the Bill consolidates individual and corporate insolvency into one statute as well as introducing measures for business rescue.
Uuuuuh Kaloba!!
Hope this money will be channelled through NWASCO and the Department of Water Affairs and not the presidential desk at the stately house.
Borrowing is the agenda item number one in this country. No wonder we are now attending high profile borrowers’ meetings.
OPEC heard about the OIL the Barotse activists brag about.
Water in Western province is not a problem, how do they Kuomboka?
DEAD AID!!! How many millions will we continue borrowing and still live in adject poverty 50 years on? The borrower will always be slave to the lender.
Wena Nostradwhatever!…who tells you that we don’t need safe and clean drinking water here! Who is talking about Kuomboka? You must be a moron!
Leave out HH’s village!
@Nostradamus
Barosteland is land on water like Liverpool luapula,,,, water is no problem,,,, this lungu of their whats to sell our land ,,, true like you say OPEC heard about the oil ,, and they want to exchange our oil with water which we have already!
Hey Nubian pinky!
HH is from Monze! Monze is in SP, not WP!
Why do you people sweat HH, kanshi?
Yaaaaabaaaaa!
Now your ignorance is showing…. Weeeeru!
@1.7 THE FACT THAT WESTERN AND LUAPULA PROVINCES ARE LANDS OF WATER IS THE VERY REASON THAT THEY SHOULD HAVE EXCELLENT DOMESTIC WATER SYSTEMS AS WELL AS SEWERAGE SYSTEMS IN THEIR TOWNS AS WELL AS VILLAGES. NOT ONLY THAT THESE PEOPLE SHOULD PRODUCE HYDRO-ELECTRIC POWER TO FEED ZAMBIA BY CONSTRUCTING MULTI BILLION US DOLLARS ACROSS THE LUAPULA, LUONGO (RIVERS IN LUAPULA) AND THE ZAMBEZI UP IN WESTERN PROVINCES. ADDITIONALLY, LUAPULA PROVINCE SHOULD BE ABLE TO GROW FOOD TO FEED THE ALL POPULATION OF ZAMBIA IF THERE’S POLITICAL WILL- THEIR LAND IS ENTIRELY FERTILE WITH PLENTY OF WATER.
@ndobo. Unfortunately the major hydropower projects in Luapula Province are on the Luapula River which Zambia shares with the Congo DR. These schemes cannot be developed without the Congo DR’s participation and the Congo DR is not renowned for peace and stability. The Congo Basin in which the Luapula River lies has more rainfall than the Zambezi Basin and it is possible to divert part of the Luapula River to the Kafue River, which is in the Zambezi basin. Climate change is a reality. Even if you have abundant water you need to supply the water to villages and towns from boreholes and water plants from rivers. The water in the Kafue could be in turn be diverted to fill up Lake Kariba.
@Peter. There is already an existing power station on the Luongo River known as Musonda Falls Power station whose generating capacity I understand ZESCO plans to increase like it has done to the power station on Luanzua River in Mpulungu which ECL recently commissioned.
It better to borrow to save and preserve a life today for future than let people die when you can do something.
You are correct and to tell you the truth, EL is a good President. Zambia will become a better country under
his leadership.
May God continue guiding him.
Now Sponge Bob look at the stark contrast between your post and Nostradamus’! People of Bulozi don’t drink Kuomboka iwe. It’s fine to borrow for the right reasons.
So you minions you will still complain about borrowing. How else do you want water to be supplied to those impoverished people in Western province mmmh. Tell us you perpetual critics. Otherwise you would rather people are not given the services. Let me tell u the water reticulation, network, these water UCs can’t do them on their own, they have failed and people have continued to suffer, carrying vibudizas around in search of water. Is that the life that you want for the people
@Wan
Bye-elections???
Chikwandanomics! This is getting out of hand, seriously!
Would you care to give your version of economics that can help the people of Western province have reliable water supply? Because they needed the water like yesteryear.
GOOD BORROWING FOR GOOD REASONS. EVERY BUSINESS BORROWS MONEY. AS LONG AS THE MONIES ARE FOR DEVELOPMENTAL PROJECTS, LET THE GOVERNMENT BORROW. AND THIS IS ONE OF THE GOOD REASONS FOR BORROWING MONEY.
Good development. But let it be known that ‘Aruta Continua with Barosteland Restoration’ advocacy. It is our too for development.
Yes if it means borrowing to better the lives of the people,jus borrow your execellency we r 100% in support of that,dont mind these critics,we shall face them head on
This is borrowing for Consumption. Why not borrow money for setting up industries so as to create employment?
No, it’s not. This is an investment in people’s health and productivity!
Besides, interest of 1.75 percent is a bargain.
Now you see Syndicate how you have exposed your dullness. Do you know the difference between investment and consumption? Kwena ulichikopo ee, nina ukwebele ati aba Lozi bakalya ama pipes and pumps ya menshi, styopet!
There is nothing wrong with borrowing. The problem we have in Zambia is that the money is usually diverted for other things, cars for top officials, mismanagement of funds. We are in deep debt because of this. We seem to be borrowing left right and center.
You mean we can never do anything on our own, without borrowing ?? Lets learn how to create money as our lenders do !!!
@Kim.
You have a point. We are lacking in creativity. We cannever survive on borrowing. The leaders should think of means of creating funds within our natural resources. If this country belonged to Chinese, they would tap in to the natural environment and create something that would enable us survive.
with this state of affairs, iam afraid our future is not very promising. Maintenance of the same water reticulation system will need funding. Shortly we will be talking of a white elephant………..I AM SCARED MWEE.;
President Lungu, please borrow to help provinces which vote for you.
An enemy is an enemy. No amount of water will stop the fire in western Province. Better spend that money where you can get votes.
I used to please enemies, but now I know that it pays to please friends. Enemies are decided matter what you do.
I wouldn’t be wasting that kind of money to Barotse activists who want to divide the country.
Its like trying to please the Post Newspaper.
You are off the mark there Tutu mwana! all Zambians deserve to enjoy the national cake despite the situation!
Please tell me something I don’t understand, 14 million $US for 100 villages? Wow what they putting up? 1.4million per village wow! I smell a rat here. A borehole costs maximum 45 thousand kwach about 6000 $ but this? Also I am aware that there is the 150 million ADB loan that government got to provide 1200 water points last year for the same 16 districts. Can someone investigate this scam. I smell a rat big time here. They want to use the loan for other things but meanwhile use the ADB loan to cover for this
@Ine wine
I knew there was something at the back of mind regarding water and sanitation in western province , but I couldn’t quite put my finger on it. Thanks for reminding us. Yes, there was a loan from ADB for the 16 districts in WP. What happened to the loan? I smell something fishy here. Can someone explain.
Here is the simple explanation. It’s PF fundraising time for 2016!
Surely these reckless empty tins can’t raise a mere $14m…sack all those empty suits you call deputy ministers and provincial ministers sell all their cars!
This is why there is need for a dedicated president to be actively involved in these projects because of government inertia and inefficiency. A presidential assistant for Projects is a step in the right direction. Some projects have not taken off because some conditionality have not been fulfilled such as counterpart funding. In the UNIP era ADB funded the expansion of water supplies in some towns in SP but the requirement was that the councils should employ water engineers and this was never done. Despite the water shortages in these towns nobody bothered. The Agriculture Minister Given Lubinda revealed during the TVZ Sunday Interview that a number of funded agriculture projects have not taken off. I hope it is not mere rhetoric.
Cabinet yaba chibwi, scheming how to misappropriate the low-interest concessionary loan of US$14,000,000.
lozis wake up how much does one borehole cost. its only 20,000 why this 14 million dollars for what. for 16 villages it will cost about 400,000 kwacha less than one millionkwacha now where are they taking the other money. they just want to explore the oil deals they promised the nagerians. which area of western province are they drilling these boreholes. let the litunga take take interest
See, would one ever wonder why the Luena Sugar Plantation is in Muchinga and not in Western province where the name is derived from? Originally this Luena Sugar thing should have been in Western Province but because of corrupt minds like Mary here,the Muchingaians welcomed it. Why are you guys always skeptical about developmental projects in Western Province? That really beats me! Why drag in the Litunga even? So that he stops the project through this infamous mubu waluna cliche?He drinks mineral water whilst the rest drink very dirty and unsafe water!
This is a u-e-l–e-s-s gvt which depends on borrowing. A DR Congo USA NBA ex star had built a $29m hospital without borrowing and yet this f00lish gvt delights in borrowing while they delight in pocketing borrowed money. No wonder these crooks don’ t make use of our own Dambiso Moyo for advice.
Who’s dambisa moyo
I believe this move comes from someone complaining about why in 2015 we have an issue of crocodiles taking people’s live because they have to go draw water from the river. The person wondered why people where washing clothes in the river while government officials are busy stealing money. It was just a few days ago the person expressed concern. Now they have decided to borrow instead of asking Michael Sata and Rupia Banda’s son to give back the money. Zambian President and politician’s please wake up and stop this DEAD-AID nonsense and start using your brains please. Sell Kambwili’s house and retrieve that stolen money. Hold everyone accountable by getting that stashed loot in Hong-Kong. Where is the money Chiluba’s he stole? Money is there you have to stop being lazy and get it…