IMF demands sale of ZAMTEL

143
32,269 views
ZAMTEL Headquarters
ZAMTEL Headquarters

The International Monetary Fund (IMF) is prepared to lend the Zambian government a US$1.2 billion economic bailout on condition the country sells ZAMTEL.

According to official documents seen in Lusaka, the IMF has made the sale of Zamtel a prerequisite because of the substantial amounts of money being used to try to recapitalise the loss-making firm.
A team of IMF officials is in Zambia for consultations over a possible bailout package for Zambia.

Other conditions set by the IMF include the removal of subsidies on fuel and electricity.

The government recently transferred the management and operation of Zamtel to the Industrial Development Corporation (IDC) after failing to secure US$300 million investment in the company to make it viable and be able to compete with MTN Zambia and Airtel Zambia.

In 2010, the company was sold to LapGreen Networks of Libya by the previous government after failing to recapitalise it after which the current administration repossessed the company in 2012 claiming there was corruption in the original sale.

And since 2012, the company has been making losses and is technically insolvent, according to the 2014 Auditors General’s report.

Zamtel is the country’s smallest operator with less than two million customers.

143 COMMENTS

  1. We saw this coming…Pf repossessed Zamtel from Lapgreen and now the same PF will sale it.Wow!!!!
    this is what you get when you dine with the devil.He grabs everything from you including the leftover bones..Welcome to reality zambians. Next will be Zesco..

    0

    0
    • Hahaha.. back to square one. Now LapGreen is having the last laugh..now we will see which company will take this risk after how LapGreen was treated..indeed what goes around comes around..

      0

      0
    • The MD, Mwanakatwe is the cause of the losses, ZAMTEL should have been run by someone who understand business.

      Mwanakatwe has no Idea about how to run a business, he cant even run his own small business, he borrowed money from CEEC and has failed to pay…… and you expect him to run ZAMTEL

      0

      0
    • Just last week Mutati and PF were claiming that there were no IMF preconditions. So that was a lie. Mwamona manje. Lies always catch up with their purveyors.

      0

      0
    • IT IS A STORY OF ZAMBIAN MANAGERS- MERRY GO ROUND WITH ZAMTELGOSSIP
      =================================================
      Another ferry tail of non-pragmatic desk managers. Shame on y’all!!
      IMF’s point is real; question is how have they come to conclude rightly and in a short time that this company has been loss making. Government has been blind to the core. Watchdog said it, critics slammed them. Sometimes learn to listen even from the most critical of all times, because the details of truth lays beyond hate. Truth is truth. So when an outsider sees a problem when you the insiders don’t, begin to worry. It’s not the first time IMF has dictated over the sale of Zamtel and Zesco. On Zamtel, both the Govt and Mgmt are to blame. Chiluba and HH once called these organisations STRATEGIC…

      0

      0
    • COMPANIES in the 90s, and would not sell them. You don’t have a choice now and a beggar is not a chooser,just sell it.

      0

      0
    • By the time PF is done with our economy will know the importance of voting using our brains and not our stomachs

      0

      0
    • Uko!
      IMF is on the PF’s incompetent THROAT.
      On the other side, Zesco and now Zamtel are held captive to the talons of IMF, the mines too will not be spared.
      Anyway, welcome to dununa backwardness unfortunately, privatization of the 1980s to 1990s is back in the limelight.
      The visionless PF of Lungu will soon claim that it is HH and UPND’s fault, when in fact NOT, when it is the violence bandits of PF bringing misery and poverty to the people.
      The Skeleton Key
      ~206~
      Is back !

      0

      0
    • The proceeds of the sale will go to pay off LapGreen after their litigation. Its indeed Fools’ Paradise PF (sic).

      0

      0
    • Its 2016 and this company in a profitable sector like telecomms; Zamtel has never recorded a single ngwee in profit….everything is reverse gear…I am sure IMF even has western company in mind. This the way the minds were sold for a song by pressure from WB and IMF…we never learn from history.

      0

      0
    • Dombwa simply because you live abroad does not mean you have forsaken your country, please love your country and its people because it is your heritage. We are passing through a difficult phase attributed to the great leader whose vision was to develop the country fast and at whatever cost. In the process mistakes were made but be proud that the younger leaders have a different approach and will do their best to move the country from its doldrums.

      0

      0
    • Dombwa , your comment cannot be further from the truth. Zambians annoy me, unfortunate that the poor who wanted change will be made poorer

      0

      0
    • Was it ECL who repossessed Zamtel? ECL is trying hard to clear the economic mess left by his predecessor. If Zamtel is making loses, then let it be sold. VIVA ECL!

      0

      0
    • @LAZI, it is PF that renationalised Zamtel. You can claim that it was Sata and not Lungu if you want, but parties have manifestos. The ongoing misery in Zambia is due to PF. Lungu had claimed to continue with Sata’s vision. That’s why he has no personal vision of his own. Don’t run away from PF’s failures to run the economy.

      0

      0
  2. Dununa reverse Lungu and his team of incompetent handlers. Mwanakatwe has proved yet again that he is a failure; a failed manager who has failed to steer Zamtel out of troubled waters but Lungu has maintained him at the helm. What is the point? The company need serious attention. The man failed to run his own businesses, and with his wife, have swindled CEEC out of millions which they have failed to make better use of.

    0

    0
  3. Zamtel is making losses. IMF has demanded its sale. So buys a company that is making losses and why?

    0

    0
    • Who buys a company that is making losses?

      People that KNOW HOW TO RUN A BUSINESS! Why should the Zambian taxpayers pay for providing jobs for incompetent PF cadres? Giving them chance to loot the national coffers?

      Even with preferential access to the market these incompetent ****** cannot make a profit. This was one of the many instant “ideas” of Sata like creating new districts done without consultations or advice on the financial consequences that have bankrupted Zambia.

      No plan PF we are now paying for!

      0

      0
    • Considering that LapGreen should be suing Zambia for nationalising its Zamtel asset, a sensible govt would just hand this thing back to the Libyans after extracting no-fault, no-damages/compensation commitments from the Libyans. Let it be somebody else’s problem but I doubt that any other company would be interested with the risk of international lawsuits coming from the Libyans for compensation.

      0

      0
    • Its syphoning taxpayers money that is why…no telecomms company with such a monopoly should be making a loss…its down to bad management and too much government interferance.
      When you elect ***** this is what you get.

      0

      0
  4. Keep the privatization thug Kaponya (HH) away from these deals and discussions. He almost sold the entire Copperbelt for a song.
    What type of inbred imbeciile sells a mine for $25 million?
    (HH) your days are numbered maza faka.

    0

    0
    • Delusional and ignorant! KCM was not privatised again when Mwanawasa’s GRZ gave it away to Vedanta for nothing. Don’t recreate history. People who witnessed the deals are still alive. Your PF00LISH lies are Pathetic.

      0

      0
    • @ bonehead

      Why not ask Mutati? He and his bro can tell you about origin of the cash stashed in Channel Islands bank accounts.

      0

      0
    • You seem to be the most ignorant blogger pal. Initially KCM was sold to Anglo who pulled when Mazoka lost election and in panic and to avoid a crisis, it was sold to the Indians. When we say for a song, we actually forget the big picture of continuity and future investment, though risky because it all depends on the ethics of the buyers. Even now how much do we expect to get from the ‘shell’ of ZAMTEL if not hand it over to someone who will recapitalize it and protect the jobs, pay taxes and boost the economy. I know Zambians who pride in ownership which gives them Zero return.

      0

      0
    • You are the embecile yourself Chishimba Kambwili alias Mr Kudos. Your hatred for HH is driving you insane. We are talking about ZAMTEL here not HH or UPND. Why are you diverting people’s attention from the main issue. Mwanakatwe is just busy planting ZamTel antenna masts in his ranch at Chifwema with a view of milking ZamTel further and you bring in HH! wena nja tuwe! Mwembeshi Station is one single investment that should have brought money to ZamTel had it been well managed but nil.

      0

      0
    • I am even surprised why this Chishimba Kambwili alias Mr Kudos (skull) does not mention Valentine Chitalu and\or Francis Kaunda, who were the main players in the privatization process of government economic institutions! Is it because both Chitalu and Kaunda hail from a stealing tribe, the Bembas?

      0

      0
    • Well,
      If PF is not competent enough to privatize ZAMTEL, then yes bring in HH. At least Mr. Kudos will get even more crazier, and will be knocked off this Forum forever.

      Look, instead of him being concerned about WHY we got into this situation that IMF is giving Zambia those conditions (which BTW, the PF Minister of Finance just last week said were nont existent), he is concerned about HOW to. Its like they want to keep away HH, so he can have a share, with HH he will not have a share. Shame

      0

      0
    • There would be no need for HH or anyone being involved in privatising ZAMTEL if PF and its government had done a good job of it. That is what should be worrying you.

      0

      0
    • Ba Chief cadre when was HH in government for him to sell anything. Can you go back to school. Lets reason sometimes please!!! Time for trying to get votes is gone.

      0

      0
    • @Kudos, You Can’t discuss the issue like an adult, based on the facts, so resort to lies and name calling?

      0

      0
  5. IMF has also demanded the sale of zisc and znbs as these were in the initial privatisation sale they are arguing that the sale of the two would strengthen the balance sheet of grz and allow a more regulatory role for grz than is the case now

    0

    0
    • The IMF should also insist on good governance from these PFascists. They should stop harassing opposition politicians, stop PFake seditious charges, and stop shooting opposition supporters. And definitely no 7 year term for the Humble Drunkard.

      0

      0
  6. Every sane and honest Govt would no longer pretend. Any sane Govt would not continue pouring cash into bottomless coffers of parastatals.

    0

    0
  7. They should even demand a Chakolwa in state house to step down as he is too clueless to run the country.

    0

    0
  8. what are going to remain with you? It is poor economic analysis and a terrible economic rescue.

    0

    0
  9. Mr Kudos before you say anything ask and find out. it was not HH who sold KCM. KCM was sold during Mwanawasa after Anglo American Left. Shame on you brother

    0

    0
  10. LUNGU wants “Fine-tune” the constitution to extend his tenure to 7 years. Next will be 3rd term. Expect him to rule till 2030 becoz he’s gonna rig again in 2023 elections.

    The damage he has done in less than 2 years will take 30 years to recover. The damage he’ll do in 7 years will take 200 years to recover. Those who voted becoz of styopet song or bcoz of prospect of tenders or bcoz u come from the same part of the country (NER), will live the rest of their lives in regret.

    These were my comments after LUNGU was declared winner by ECZ: “A SAD DAY FOR DEMOCRACY IN ZAMBIA”.

    0

    0
  11. Hopefully IMF will not eventually give a condition that our children go to Mosul & Raqqa and be used as human shields against ISIS before rescue package is given. We should have been more careful in the last 5years. This situation was highly avoidable.

    0

    0
  12. I fully agree. Zamtel has massive potential which can only be realised by a proper private telecom company. I would like to see atleast 25 percent of Zesco listed on Lusaka Stock Exchange and have the company fully restructured top to bottom. Right now it is just a dinosaur roaming in the 21 century.Just my opinion.

    0

    0
    • You expect sane people to buy shares in a government controlled entity, Zero! There is no reliable corporate governance in ZESCO and people who invest in shares are informed people…why did ZCCM-IH fail?

      0

      0
  13. Looking at the chess board i saw RB playing this move and my next move shud be not sale but give out 50% (20% youth,10% disabled,10% retired/aged,10% women)
    shares to zambians,10% govt,10% current workers and 30% foreign investors.this shud be done in any public company for sale.this will be fair to everyone

    0

    0
  14. AN ECONOMY IN TROUBLED WATERS – 5 ELECTIONS IN 10 YEARS IS UNPRECEDENTED
    ==========================================
    The moment a country begins dating and trading kisses with the IMF and the WORLD BANK just know that its economy is really bad, I mean really really in a mess. Zesco, Zamtel, Zanaco, ZSIC, ZAMPOST, ZCCM-IH and others should be at the center of alleviating citizens lives through proactive contribution to Government coffers. To the contrary, these organisations are a drain to Government. Matter of facts they mutually drain each other. Yeah, Government drains them and they in turn drain Government. I wonder who monitors these organisations’ managers and board members, because if you leave it to government alone, you are in hot soup. I smell mischievous dealing between…

    0

    0
    • … these entities. The Government-PARASTATAL relationship is extremely immoral. Okay give Zamtel back to Libya, you have failed, pwahahahahahah!
      PARASTATAL:
      a) (dictionary.cambridge) used to describe a company or organization which is owned by a country’s government and often has some political power:
      b) (of an organization or industry, especially in some African countries- Zambia included) having some political authority and serving the state indirectly.

      0

      0
    • You can only help somebody who agrees that they need help, not PF and Lungu. PF lash out at the helpers.

      0

      0
  15. When are we going to learn that it is governance and not cash that makes or breaks something? The so-called buyers will come with brief cases and only the clothes on their backs. They will run your companies back to profit with little new input, and make the money you are supposed to make; then they will pay for the company with that same money you were supposed to make. Go on, employ chums, girlfriends, mistresses, boyfriends and phony relations. That is the price you pay for incompetence and ineptitude.

    0

    0
    • Kalok,you have said it all.All these parastatals lask proper governanace/management.i mean look at how lapgreen managed to turn around zamtel in less than 18 months,they had a proper management team with targets and the board was result oriented.You grab it back and put Winter Kabimba to be part of the board mxxm,what does he know about telecoms.You grab it back and destroy it in less than a year.the managers are busy sleeping around and buying themselves ford rangers instead of using part of that money to improve on the operations of the firm.Even Zesco can be run more profitabbly with proper management.not the cadrerism that we see…6 months and they can’t connect your house to the grid.loadshedding wether extended or not is something that is abnormal.”in short ALL PARASTATALS HAVE…

      0

      0
  16. Why sale big shares to zambians
    Eg zantel
    *communication is security its like selling op
    There will be no state security
    *more monies will be kept by zed
    *more employed direct and indirect
    10%govt shares can be handled by op for security reasons,govt can release infrastruct on long term hire by zambians which they can contribute as shares,investor brings new machines and employs workers,runs with zambians accordingly.
    # NEVER SALE ZAMETEL,ZESCO,INDENI,ZRL TO FOREIGNERS MAXIMUM 30%-40% OR LESS

    0

    0
    • Comms is secruity yet that side of Zamtel is run by the Chines…there are some areas in that company where even Zambian engineers are out of bounds.

      0

      0
  17. As a donkey, you are not expected to see beyond your nose and your head is expected to be full of low quality grey matter. In short no one should expect you to think let alone analyse complex matters like Zamtel. President Lungu is hard at work trying to correct the country’s economic ills, how Zamtel’s problems are attributed to Lungu as an individual is a classic example of donkey brains at work. That is the tactic which cost HH the elections….hiho hiho hiho hiho hiho hiho. Look here, if you choose to be a donkey then you are not expected to participate in national economic discussions….your function is to eat grass and sing hiho hiho hiho, occassionally we may use you to pull the cart or the plough.

    0

    0
    • Economic ills caused by the stup!d PF you dull twat. A donkey has far much brain power than the lot of you PF cadres.

      0

      0
    • @ #19 donkey

      Jack-ass, who is the President? Who is responsible for the performance of the Government? Who appointed intellectual and business failures to the executive positions?

      Actually, calling you donkey is a insult to hard working animal. Instead, how about 1mbecile with donkey crap instead of human brain?

      0

      0
  18. Why is selling of companies always a condition by IMF when ever they want to help? What is wrong with us Zambians kanshi? Selling of companies should not always be a solution but involving not only qualified but right people in the running of these institutions. It pains me to see a company making loses today and tomorrow it begins to mop huge profits after foreigners take over. Where are we headed as a nation? Quite pathetic

    0

    0
    • Because the govt is diverting the money to fund ZAMTEL. It’s ZAMTEL that should be injecting cash into the national coffers through dividends, but the company is making losses. What this means is that the money that is meant to go towards building of new hospitals, recruitment of new teachers, medical personnel etc is being diverted to fund a loss-making company.

      0

      0
    • Do you know why private companies make profits? Because Kambwili can’t just dump his nephews or PF cadres at AIRTEL or MTN. Just recently, a wife to one of those musicians who composed the famous song was dumped at ZESCO. Too many employees some of whom don’t even know their role in these parastatals. A private company wouldn’t accept to be bullied like that. There are also cases of money being diverted from these parastatals to fund ruling parties. Zesco, Zamtel and many other parastatals have been funding political campaigns for successive ruling parties from Chiluba to EL. Why do they make losses? It’s a no-brainer bwana!!

      0

      0
  19. They will sale but when campaign time comes in 2021,they will HH sold the companies and foolish Zambians will agree with them… Yesu atile amatwi mwalikwata nomba tamumfwa,amenso muli nayo nomba tamulemona,you hypocrites…u make decisions today but u blame others tomorrow…hyporicy of its highest

    0

    0
  20. @ Samaniego, the answer to your question is simple:-the problem is the quality of the appointing authority. If you have garbage as appointing authority, expect the garbage to appoint garbage to run companies to a point of turning those companies into garbage. Remember (Dr.) Kambwili’s comments during campaings-that Bemba term:-“tuntubiti tunakwe”. It means a lot. Appointing authorities are looking at tribe, political patronage, etc as qualification for being appointed into positions. If a foreigner takes over Zamtel, you will see a blend of Zambians being put together and within a year or so, Zamtel will be back to profit.

    0

    0
    • @Democracy Defender
      Totally agree with you. Basically, these companies are being used as form of thank you to those cadre, that is the problem. Wako ni wako type of thinking

      0

      0
    • @ DEMOCRACY i totaly agree with you on this all these parastatels fail because of over employment and pushing in of unskilled labour to please people;

      0

      0
    • Very true – Lungu is only appointing Rat and Caterpillar eaters who are mismanaging parastatals into extinction.

      0

      0
  21. That is IMF for you. Where ever they go, companies have to be sacrificed.I had said it before, IMF is ASSISTED SUICIDE. All you ZAMBIAN BILLIONAIRES THIS IS YOUR TIME TO SHINE.STEP UP AND PUT YOUR MONIES WHERE YOUR MOUTHS ARE.DO IT AS A BUSINESS VENTURE OR MAYBE AS CHARITY…..

    0

    0
    • Charity only to help Lungu abuse his power over our brothers – NO way!! Mother fuc.ker Lungu and Rupiah have to go to HELL and get rotten!! Look at what is happening to The Post, ZWD, etc simply because the Drunkard wants to oppress everyone!! Just dance to Dununa Reverse!

      0

      0
  22. MMMMMM………………………..IMF…………..I THINK THESE GUYS ARE AFTER NO GOOD…. WHY CANT THEY JUST ADVISE ON HOW TO RUN ZAMTEL INSTEAD OF DEMANDING IT TO BE SOLD…………THESE GUYS WILL SOON RUN ZAMBIA…. BECAUSE THE FOOLISH PART OF US ZAMBIAN……. WE DONT KNOW THAT EACH ONE OF US HAS HIS OWN ABILITIES……. O WE WANT IS TO SEE SOMEONE FAIL…AND WE LAUGH.. THE NEED OF WORKING TOGETHER IS NOT IN US…..TRY AND ERROR….. IS WHAT WE KNOW BEST…….WE DONT WANT PEOPLE WHO ARE SKILLED TO WORK IN THEIR FIELDS………….AND THE RESULT IS ALWAYS A DISASTER…………….

    0

    0
    • Disaster is already here. IMF cannot make it worst. Who has appointed incompetent 1mbeciles to run Zamtel or Zesco? IMF? Ask the “visionary leader” which criteria he has used in appointing business failures to ruin a monopoly (Zesco) and potentially highly profitable business (Zamtel).
      Wake up and ask yourself why Airtel and MTN are making money whilst competing against Zamtel?
      How is possible that utility MONOPOLY (Zesco) is loosing money? Where the money goes? To the Treasury? To the ruling party? To the corrupt plunderers masquerading as politicians?
      Why are you blaming IMF?

      0

      0
  23. It’s a shame we have failed to run these companies which 2 me are viable and cn generate huge revenue 4 Zambia. These foreigners Jst ship out of the country all the profits thy make whilst skillfuly avoids paying taxes.Wen all our campania are sold,nxt thy Wil start demanding we sell our natural resources such as DE falls,lakes,rivers etc.b4 we know it,we would hv sold our rights of existence.I worry 4 the unborn children.God help us

    0

    0
  24. It’s not surprising that the IMF has given preconditions for the money. We’ve been here before and should know what to expect. We’ve also heard the situation in Greece. Our problem is a lack of proper governance and oversee systems. There’s no guarantee that money borrowed will be repaid. Given the historical abuses of poor, there’s a jitteriness about Zambia’s future as a democracy. By appointing Mutati as FM, ECL hopes to instil some confidence. Sadly the IMF seem unimpressed. Hard times ahead.

    0

    0
  25. KIKI YOU SALE ZAMTEL U SALE YO SECURITY.ZAMTEL NEEDS GOOD MANGERS PERIOD.
    ZAMBIA SHOULD BE PROTECTED NOW N FUTURE.IMF WANTS TO CONTROL ALL OUR SENSITIVE INFORMATION AND THE COUNTRY CAN BE DEAD IF NOT CAREFULLY ANALYSED.LET US THINK ABOUT THE FUTURE.THERE IS NO WAY ZAMTEL CAN MAKE LOSES PROVIDED THAT ZAMTEL ALSO OFFERS INTERNET SERVICES AND SALE TALK TIME.WE LACK GOOD MANAGERS PERIOD.BWAFYA SAANA.CORRUPTION IN DA COUNTRY NO WONDER A CIVIL SERVANT CAN BUILD 10 HOUSES IN A YEAR .WE HAVE CORRUPT CHAPS IN ALL INSTITUTION ESPECIALLY DEC AND ANTI -CORRUPTION.WE NEED MEN & WOMEN OF INTERGRITY.BA LUNGU POSENIKO AMANO MWALASITISHA COUNTRY

    0

    0
    • “ZAMTEL NEEDS GOOD MANGERS PERIOD” Wrong!
      It has nothing to do with good managers. It has everything to do with the appointing authority – the politicians. It also has everything to do with you, the electorates, who elect these politicians. If ZAMTEL was making huge profits and was a viable business like AIRTEL, the IMF wouldn’t be demanding for its sale. Likewise, if the economy was being managed properly, we wouldn’t be turning to the IMF, and hence the ZAMTEL sale story would not arise.

      0

      0
    • @25.1 The Chosen..I do not see any difference between what you are saying and what @25 Moscow had said. A politician cam still appoint a good Manager and the story would be different! There are some cases where some Managers are appointed by politicians and they make a difference. I can cite an example of how Robinson Mwansa turned ZESCO around. He was a political appointee who did well while Sisala,he too a political appointee contributed to the beginning of the downward trend we are seeing now at Zesco!So it can come from both sides,Politicians and the appointed Managers!

      0

      0
    • But others may argue that during Mwansa’s reign at ZESCO, the demand for electricity was quite modest and we were able to export the surplus. Sisala’s reign, it could be argued, coincided with the boom in copper prices, which saw the great expansion and resuscitation of existing mines and opening up of new mines like Kansanshi etc culminating into load-shedding.

      0

      0
    • Moscow what security. Please list the telecom companies run by the British or US governments who face bigger security challenges. Don’t exist in the 60’s and 70’s and 80’s my friend.

      0

      0
    • YOU ARE DEAD WRONG
      ==============
      @Moscow(OP) of KGB; indeed, what security are you talking about? Forget security, Zamtel can not secure your information. 3quarters of the MPs and Ministers don’t use Zamtel lines. Although The Chosen one may be right, there is a lot to be desired among Zambian Managers, they are a total sham!

      0

      0
  26. I agree with all those bloggers calling for better managers to run these still remaining parastatals. Once appointed these managers should be given the leeway to run these companies without political interference. We have identified the problem and we must now act.

    What about the revelations in The Auditor General’s report? Are they being addressed? Are heads going to roll? These are the fundamental challenges that we face and they need to be tackled with or without the IMF or World Bank.

    0

    0
  27. Zamtel should not be sold but managed professionally like Zamseed and Copperbelt Energy 2 well run Zambian companies which don’t even have any useless bazungu in them!

    0

    0
    • Govt has a tiny shareholding in CEC Mr ZeroZerovision. The issue here is that Zamtel has been run into the ground by your PF and I bet if we exam the books ku ZESCO and ZR, they are also running on losses.

      0

      0
    • Do you research, Zamseed has foreign investors despite the name and CEC is a private company lead by Zambians but also with foreign investors. Zamtel is a parastatal wrongly grabbed from Libyan investors for political reasons.

      0

      0
    • @ blind 1mbecile

      The appointing authority is incapable of organizing drinking party inside the brewery, never-mind selecting experienced Board of Directors.

      0

      0
  28. HH didn’t sell the mines CHILUBA did. H.H has never been in government, how could u have sold the mines. Dont blame innocent people on what the MMD government did. HH was contracted to evaluate the mines and was paid for the job by chiluba and team. The beneficiaries of that were chiluba and his thugs.

    0

    0
  29. I once said Mutati is not the right person to be finance minister.My reasoning is very simple. Any one who supported what MMD was doing until the end is not fit to be given another shot at governing.For over 20 yrs,these chap could not steer the economy in a clear direction.Selling ZAMTEL is not the solution .Actually ZAMTEL can make money for the government. Mupanga must be fired,get rid of Mutati,forget about IMF.Get talent,be it Zambia or not,give them money and turn around the company. The British were not foolish to hire a Canadian to run the central bank.Even if Bob Diamond has dual citizenship I think he is more American but he made billions for Barclays (forget about the Libor scandal).Mwanakatwe is not just the chap!

    0

    0
  30. Mawe ndagambwa, ndalilamebo…Come now don’t tell me Zisc has also gone down memory lane! Didn’t LPM manage to get good managers to make it work? There were two great leaders at that company Irene Muyenga and our own Chibamba Kanyama two sons of the soil who turned it and it made profits what has happened? Ah basa! I think CK and IM are still available why can’t ECL call on them before letting zisc go? As for ZESCO kaya we just looking it another zamtel kuwayawaya fye…. Zampost nipersona to holder! Lol, yah we laugh not because its funny but if we don’t we can cry….2021 is now looking miles away! And UPND no number 9 to goalessa!

    0

    0
    • Those people are from wrong tribes. To be appointed to run a parastatal you have to be Bemba or Nyanja. It’s PF practice of wako-ni-wako.

      0

      0
  31. If you are selling tomatoes and I’m selling the same products but you are making losses, then there is something wrong with you who is running your business. How come MTN and AIRTEL are doing fine but not ZAMTEL when they are in the same business? What explanation can Mwanakatwe give us?

    0

    0
    • He cannot even explain himself,he is a very useless black belt drunkard holder.Busy galavanting and is rarely seen at zamtel.in short nati,we have feaces for managers at zamtel.Offcourse there are a few good ones but 90% are matuvi..so that is why zamtel is where it is today.by the way Lapgreen turned it around within a year….we also turned it the other way round within a year of lapgreen’s departure!!total imbecilies if you ask me!!

      0

      0
  32. Yes Chiluba did entrust him to do a better job but what did he do he under valued the companies where on heath can you sell a mine at USD 25million, why? because he was paid kick backs, he never though of us zambians but him self. to day you are crying that you have got no money what about HH is he feeling the same?

    0

    0
  33. Something is wrong with us Zambians. Even when examples are there to copy from (Airtel and MTN) we can’t still get it right. I wonder where all the money goes because even the two other service providers pay something to this now useless company. With such management in place and being bailed out all the time, our PF MPs want a bail out amounting to 2 years so that by that time they would have squandered so much that the country will even fail to craw. SHAME to managers of ZAMTEL and report yourselves to police for running down the company. Equally those suggesting seven years of plunder must be watched.

    0

    0
  34. Am fed up with the party I supported from day one to date. They are failing to copy how others are ably doing it and want 2 more years to ensure the IMF package is “dealt” with. WHO NEEDS IMF?

    0

    0
  35. The IMF was not originally formed to develop Africa but Europe after the second world war, whatever decisions they make are for short term benefit for Africa and long term benefit for Europe. the earlier we realize that the better.
    My appear to the president is that not everyone who is not in favor of the IMF conditions is in opposition, We sold the mines like nothing (about 2500 US dollars) and now we are paying the price, am sure we should have learnt a lesson from that and lets not make furthermore.

    0

    0
  36. I can rest assure you that Zamtel will not be sold but management will be re-organised that’s what is needed… If the PF sells Zamtel then that will make them unpopular the way MMD was kicked out by PF because that became a campaign issue when RB sold Zamtel then…

    0

    0
  37. LApgreen was a Libyan National Organisation. The only difference is that it had sound and good management in place. So here the question shouldn’t be to sell ZAMTEL but rather bring in independent and competent management. For starters why cant the government poach from MTN or Airtel? Selling ZAMTEL shouldnt be the only answer. At least let the government retain 51%.

    0

    0
  38. Zamsellit! Why not just sell Zambia as a whole since it is also loss making? Just as Zamtel has an incompetent director, Zambia as a country has incompetent director in the name of Lungu. On the other hand Bank of Zambia is insulting me with their silly sms encouraging me to make savings when their economy does not allow me to do so. How does BOZ expect me to save when the cost of living is beyond my means. Fuel is K15 per liter, Mealie meal is K100 per bag, kapenta is k120 per meda, and I can only buy my clothes on salaula since I don’t remember when last I went inside the shop. BoZ must stop insulting Zambians.

    0

    0
  39. Why do Zambians have this mistaken belief that the government should run companies? Is this not a hangover from the Kaunda days when KK run even bakeries? Zamtel should be privatized by selling it to a reputable and technologically advanced telecom company, with some shares sold to Zambian citizens and institutions on the Lusaka Stock Exchange. The government can also have some minority shareholding.As long as the government has a major hand in the running of ZAMTEL, there will never be any improvement of its operations? Can any one tell me which government in this day and age runs a cellphone company?

    0

    0
  40. Can we wait and see if pf has any morality by refusing to sell zamtel. They condemned rupiah banda for selling it and repossessed it

    0

    0
  41. Next you should also privatise the ndola stadium and the heroes stadium..when these stadiums are sold off they will be run privately by new owners and you will not need to pay tax payers money in order to maintain them.

    0

    0
  42. This simply shows that the Rupiah Banda regime made the right decision.The problem with PF is that they were too excited when they came into power. They thought running a country is as easy as counting 1 2 3.We should have not given this country to these people. We are finished. The presence of MTN and Airtel is what has killed Zamtel. What has made Zamtel fail to penetrate all areas where both MTN and Airtel are? This is what Chiluba did: he did away with almost everything labeled “made in Zambia” and preferred foreign products hence killing ZCBC,Mwaiseni,NIEC in preference for Shoprite,game,spar etc. Killing your own local industry!

    0

    0
    • THAT IS EXACTLY WHAT HAPPENED AND THEY WANT TO BLAM HH FOR THE FALL OF ZAMTEL..mmmmmm
      Chiluba bribbled all his seniors and he bought shoes, suits, and he walked the walk and talked the talk. Then without warning – SAD HOW THINGS END

      0

      0
  43. We can not continue selling our national assets because of IMF stupid policies of taking africans to slavery conditions. It is not sustainable and it is futility of the highest order. IMF will not solve our liquidity problems. Please lets manage them instead.

    0

    0
    • Did IMF is forcing you to accept the loan conditions? Blame yourself. IMF did not vote for plunderers federation. You did.

      0

      0
  44. @ Land of misery you cannot receive over $300m worth of investment and in less than 4 yrs are still technically insolvent. The board at Zamtel have been at the helm, and clearly the bleeding hasn’t stopped. New players have entered the same market and are operating at a profit, yet Zamtel that owns and has monopoly over infrastructure is insolvent. Legally we can sell 40% and that’s what needs to be done asap. Or else the company will collapse before the 5yr period is over.

    0

    0
  45. IMF SHOULD NOT give this corrupt PF any bailout. That money will go to the crooked PF leaders and their family. Any ***** that voted for LUNGU or helped him rig the election deserve every harsh reality that is coming their way. I hope for more sufferings for the ignorant ****** that voted for these ****** into power. Zambians are naturally stupid people when it comes to electing leaders, so you get what you deserve. Lungu will loot everything that is left of this country, just watch. He has Mugabe and Museveni as his mentors. You guys are in for a rude awakening. More suffering on the way there, you have not seen anything yet.

    0

    0
  46. All I hear here are only hate speeches, only a few on this blog are trying to give solutions. Give ECL some time. My advice to the PF is that do not be desperate to borrow money form IMF borrowing from the west will only bring about slavery to our country. I think there are lot of smart and selfless people in Zambia who can help to figure out in this economical hick up. Let us give ourselves time to grow our own economy free from IMF or World bank, it will require patience, hard work and perseverance from each one of us.For a very long time we’ve been depending on copper and tax as back bone for our economy, good, but let us also diversify on things like agriculture, it may take sometime but that’s a good way to go. If we always try to go for quick fix by running to IMF/ WORLD BANK, we…

    0

    0
    • It’s great that we talk about diversifying our current economy. However you can’t do so without funds and 0 savings which boma don’t have. Effectively the only way they can raise money is to borrow. Now I’m not advocating for the IMF, however any lender who will borrow you money now will look at your ability to pay back. Zambia’s economic outlook is 3.5% growth, SSA is only projected to grow at 1.3% this year. There are better economies who have made structural changes in order to borrow at a much cheaper rate. The problem now is the IMF know that the country is borrowing partly for consumption. That’s a problem and so that leaves very few who can give you the money. Private sector participation will only come in when they feel boma has funds to collaborate and not fund whole…

      0

      0
  47. Comment:some of you shd b ashamed, how do u speak ill of your own country. Wat will outsiders say? not every topic is political. one Zambia, one nation. pipo r too childish awe mwe

    0

    0
  48. And ****** still sing about Sata having left a legacy. This time around Zamtel will be sold for less compared to what Dora and RB almost got for it. Am so angry

    0

    0
    • And civil servants, ruling party officials, government, members of Parliament, armed forces, police, judiciary will be paid in I.O.U.’s?

      0

      0
  49. it’s all signs of the end days.next you hear them giving you conditions on how to run things that are yours.people lets pray for the nation of Zambia.Deny the anti Christ.

    0

    0
  50. Bafi color ba pf. Mulibapuba sana. You are responsible for this mess whether it is giraffe Lungu or sata the difference is the same. We were advising on these issues but all u did was insult back. Nomba mwalanya sonta sonta sonta, atase! IMF is right. Sell zamtel and zesco also. Very regional companies full of same tribes.

    0

    0
  51. Dununa dununa iwe…
    Dununa Reverse ababambi bola naikosa…LOLO lololo…

    Uyu lungu eoo twikwite ..
    In case you did here these these songs here are the rylics..

    0

    0
  52. Yes,
    Let it be sold for good.
    Jst wasting taxpayers money to offset de losses made each and every accounting period.

    0

    0
  53. I totally agree with IMF on this one — GRZ’s responsibility is governance, not running telcos and power generation.
    GRZ can manage Zesco and Zamtel through ERB and ZICTA.

    #OneZamabia

    0

    0
  54. my appeal to the president, please don’t sell zamtel, find good managers who can help revive the company

    0

    0
  55. Comment: i agree with chanda felix. let the govt be open enough to admit we have an economic crisis. yes even in our homes we do go through these moments of trying times , but the best the govt and the people of zambia must do is to look at the long term picture.. how do we solve these problems at hand without nesessarily creating other problems somewhere in the future??? lets try and prudently work with the few resources at our disposal without having to resorting to borrowing from the so called imf. we created these problems ourselves,we can surely come out of them if we re truely commited

    0

    0
  56. For moment I thought Zamtel Is the same company responsible with government satellites and this is an issue of national security.
    Ooh wait it is

    0

    0
  57. Please don’t listen kuli shi impupu! I wish Michael was here! These guys are bad news Zambia!! Don’t do it!

    0

    0
  58. IMF has now got it’s boot firmly on the throat of Zambia. They want PF to sell Zamtel because Bazungu know the power of Assets and generating profits from them, something that PF(Pamafi) seems to be incompetent at.

    0

    0
  59. Zambians,only good at laughing at ourselves,degrading each other and never offering solutions to our problems.Great laptop/PC critics…..bravo ma zed,keep it up.

    0

    0
  60. Comment:
    the bottom line is bad management if the entities were run with the rules of corporate professionalism there would be no need to sell them all the time.

    moreover private hands are better managers bcs thy knw the consequences of bad corporate decision making are fully theirs. that’s why the seek to employ only those who maximize the wealth of the firm and fire those who fail on that corporate rule. that’s y private entities survive more bcs corporate inefficiencies r reduced to a minimum to maximize returns.

    the problem is that the privatization has always come when we the citizens are not ready to take over these entities bcs we can buy them too and if up to task run them efficiently and professionally that way it would not matter bcs the wealth is still the country’s…

    0

    0
  61. If only the proceeds can go to establishing 100 plus hectares of land to produce maize and soya beans all year round, then it can be fine. Zambian government must stop singing the song about agriculture and become practical. The market is very bigger and it is very hungry to buy from us, all we need is to produce. God has blessed this land with abundance water resource and with relatively a good rain pertain, especially Copperbelt, Northen, Luapula, Central and Muchinga provinces. The government should also stop wasting our resources in so called cooperatives as instruments or means through which to grow this industry.

    0

    0
  62. Comment:

    we as the people also have a role to play… frankly… the govt can do something yes BT we too can start innovating and thinking of things that can substantially add to the GDP of this nation, the responsibility is also two fold. even the major economies today have had serious recessions before we must learn from our mistakes and start forging ahead with solutions, from engineering to agriculture from telecoms to finance the local private sector has a role to play too.

    creativity can not be taught in skus BT it can be aided by them,even hardships force the mind to think. we can make this work to our good in the long run if we change ourselves and take it upon ourselves to sacrifice and to contribute and not to finger point BT to spit solutions. we will complain BT… the…

    0

    0
  63. At time the problem is with the general public. Why cant we support our own network provider rather than supporting the new foreign providers? Buy MTN South Africa wins, Buy airtel India wins. They can only improve their services based on the number of subscribers mwebantu

    0

    0

Comments are closed.