Minister of Commerce and Trade Margaret Mwanakatwe says there is need to review the 65 years lease of the Lubarma Market in the Kamwala trading area in Lusaka.
Ms. Mwanakatwe said this in Lusaka yesterday when she made a surprise visit to Kamwala trading area on complaints from traders that they are charged in US Dollars.
The traders also complained of poor sanitary conditions and high rental charge and the lack of servicing of the infrastructure.
Ms. Mwanakatwe was accompanied by her counterpart at the Ministry of Local government and housing John Phiri, the Mayor of the City of Lusaka George Nyendwa and his Town Clerk Alex Mwansa, Commerce Permanent Secretary Siazongo Siakalenge and Lusaka District Commissioner Davison Mulenga.
The Kamwala trading area was constructed in 2002 under a 65 years Lease agreement by China Hennan, who has continued collecting rentals.
She said it is sad to note that despite the high rentals at the trading area, traders are also charged in US Dollar which is against government regulation.
Ms. Mwanakatwe said the high rental rates are not being helpful to the ordinary Zambian.
She said it is important that the terms of the lease benefit both the Zambian people and the contractor.
Meanwhile Local Government and Housing Minister John Phiri has directed the Lusaka City council to furnish his office with a detailed report on the way forward.
Dr. Phiri stressed on the need to have projects that benefit the local people at grassroot level because they are key to the development of the economy.
He said it is also important to create enabling environment for the growth of small scale traders to expand, but difficult trading conditions and high rentals coupled with service charge is hindering their growth.
65 years!!!!!!! HOW?
Someone should be investigated and sued!!!
Hoooo ya, you think the chinese are constructing for free? NO. Government pay for material, labor etc. And then Chinese collect rent,instead of Zambian government.
Ubufi Nastradamus, China Hennan financed the construction of Luburma market on a lease basis. The agreement is that they collect rentals from the property for the recovery or as return on investment at certain interest rates. Yes the ordinary traders at Luburma Market are bearing the rentals for the shops.
What aurprises the mind most are the number of years involved in this lease at such high rentals!
Osadabwa. Banasaina Ba Sylvia Tembo-Masebo, when she was a Minister in the Mwanawasa Government.
Osadabwa! Banasaina Ba Sylvia Tembo-Masebo, when she served as a Minister in Mwanawasa’s government.
Pipo everywhere are charging in dollas.Ba Sata told u not to lift the ban.Have u seen now.The raw materials which where trading K1 now its K3.Can’t belive we have a govt now.Lost hope coz BOZ and Ministry of finance are useless.fullllllllllllllllllllllllll
Incompetence really stinks. I am definitely sure there is a CBA as well as a business plan that these oafs received before this construction began. Add to that the fact that currency in Zambia runs like free-range chickens so there is no legal basis to stop the charging in dollars in any case. I look forward to a Wikileak or Snowden style on some of those documents that, even in the public domain, are treated like a state secret. Display the lease agreement and the run up to that shoddy state of affairs!
WHAT SOLUTION DID THESE MAGGOTS ACHIEVE APART FROM WASTING THE TAX PAYERS MONEY
The government also stop charging duty in dollars if this is to make sense.
What a visit….anything making sense from their (ministers)word of mouth? Kind of having nothing to do in their offices and then they agree ati let’s go….and they went
all that contingent….??…personally I don’t see any thing wrong in charging Dollar equivalent…as long as the payments are done in kwacha….I had peggy my property at 500 US dollars kwacha equivalent in 2011…when my tenant brought $500 had cash for payment…I used to tell them to change and pay me in kwacha which I still do up to now….that wat I don’t have to adjust the rentals every three months….
….I used to get K 2,300,000(NON REBASED) IN 2011 $1 was at K4,600….guess what .i’m now getting K6,500 (K6,500,000) at K13 to a Dollar….since 2011 my tenant and I have not wasted any paper signing new tenant agreements of which is the case these days….
…instead of looking at the 65 year lease with China Henani…they should instead look at Chikwanda’s 10year lease at…
contn’d
…Look at Alexander Chikwanda’s lease at the ministry of finance…in the view to revoke it…
Where is this sleeping Chikwanda in the midst of all the nonsense going on? Someone should fire this incompetent 1970 Minister.
What if the one to fire him is also asleep?
This is what happens when Ministers run out of ideas and don’t know what to do. Instead of wasting money why didn’t she just ask for the lease agreement and asked for a meeting with the Property managers at her office. He ex boyfriend RB who got her the job as Minister is the one that brought this same company and gave them permission to charge in US$. If she is very concerned about the poor Zambians, let her pay back the CEC Loan of K2 Billion she got in 2002 so that we can also borrow and start some business.
Please stop this campaign nonsense to show if you care when you don’t. Stop wasting tax payers money going with which big delagation
Now understand that most of us Zambians don’t have brains. 65 yrs? this is corruption at it’s best. The MMD had done more evil to us Zambians. investigate and cage those who were involved in this corrupt deal who’re still living. What we need now is a courageous leader to cancel this agreement. Those Kamwala buildings are not even fit to last for another 10 years from now. We need to pull down the buildings and put modern high rise buildings or a nice shopping mall.
Down fall of pf regime even defence wings dont know wen they wil get salaries as they in supense with umungulu
It’s not only business rentals talk about house and office rentals in dollars. Bs minister bring these si back as slot of these Chinese so called investors and rich black zedi and are pushing out Hugh sums of dollars in off shore accounts. All tenders should be checked as all all the loopholes in this economy starts from this trade.
I mean they ar in suspence
Local Government Minister, Dr John Phiri, as usual blank. Instead of offering solutions, he is asking for a way forward from the council
How do ministers complain? Aren’t they just supposed to prosecute? Isnt there a law against using foreign currency in a sovereign state?
lol FRA pays rent in USD. What say MR LUBINDA.