Government plans to set up an infrastructure fund-Felix Mutati

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Minister of Finance Felix Mutati.
Minister of Finance Felix Mutati.

Minister of Finance Felix Mutati has announced plans to set up an infrastructure fund.

Mr. Mutati says the fund will be used for investment in sectors that include agriculture, industry and infrastructure.

The Minister of Finance has explained that the fund will be set up using resources from the pension scheme among other financial resources to be pooled together.

Mr. Mutati has emphasised that poverty can largely be reduced through economic growth and high investments that create jobs.

He said this during a meeting with South African Deputy Minister of Finance Sfiso Buthelezi and officials from South African funding agencies that include the Land Bank, Government Technical Advisory Board and Public Investment Corporation.

And Mr. Mutati has called for enhanced trade opportunities between Zambia and South Africa.

He outlined that Zambia seeks to learn more from South Africa in the area of financing with interest in taxation and its implementation of the Public Private Partnerships as a source of funding for development projects.

And South African Deputy Minister of Finance Sfiso Buthelezi said time has come for Zambia and South Africa to deepen economic relations for the benefit of the people in the two countries.

Mr. Buthelezi said the political history between the two nations provides a good foundation for improved economic relations and ultimately dealing with the challenge of unemployment, inequality and poverty.

He also expressed concern at the low intra Africa trade volumes which stand at about 16 percent compared to the European Union whose intra-regional trade volumes is double at about 30 percen

55 COMMENTS

    • +8
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      They need to start with accountability. There is just way too much misuse and misappropriation of taxpayers money.

    • +5
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      Mutati why dont you address the elephant in the room?

      People want to know – are you with us or are you still fornicating with MMD in the long run?

      Which is which?

      I hold a Phd from the University of Glasgow ( a top 10 best University in the world!)

      Thanks

      BB2014,2016

    • +2
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      But there is a Fund already at State House, and Mr. Mukupa is chairman, the short campaign manager for Edgar.
      This is why Mutati is getting in trouble with PF.

    • +2
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      @mushota
      University of Glasgow,! Top ten in the world?? My foot!!
      No wonder PF is like that, it’s always be top bottom,,,

    • 0
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      Why is govt always telling us of what they intend to do and never show us implemented projects. Why are plans NEWS anyway. The other day I read ZESCO will increase generation capacity in 2025!!

    • vote

      @ndobo

      It is in the Top 10 last time I checked unless the Universities have been reviewed of late

      Thanks

      BB2014,2016

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      Govt must leave pension fund alone; retired workers should not wait for their hard earned money at retirement. Don’t touch that button!

  1. +4
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    How will a return on investment be achieved on infrastructure investment… investment in infrastructure should be coming from income tax company tax mining royalties etc.

  2. +3
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    This is a disaster in the making – using pension funds to fund for projects where the money has been stolen !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  3. +5
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    “…And South African Deputy Minister of Finance Sfiso Buthelezi said time has come for Zambia and South Africa to deepen economic relations for the benefit of the people in the two countries.”

    Just after a bitter Zambian presidential wannabe went to link up with his insignificant whiteman’s lapdog to disparage his country, the genuine representative of the people of South African Republic come over to say this. Now we know that maimane, irvine jim and all those useless characters that have been attacking our country have no blessing of the South African people and it’s ANC government. They are part of a failed & s.t.u.p.id scheme to discredit our leaders and force an agenda sponsored by their racist paymasters which include our inept opposition. The leaders in the opposition…

    • +2
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      NKOLE WA MAPEMBWE UMFWE MILANDU.
      @Zambian Citizen, Sir/Madam, if South Africa was at war with Zambia and South Africa was an enemy country, yes it would be unpatriotic for HH or any one else to go and give a speech in RSA supporting the South African position. But South Africa is NOT at war with Zambia and HH did not go to support any South African interest. He addressed Zambian problems so that his position can be understood. He might even raise some money for his party. What are you against? Are you going to fund his party or do you want his party to die. Is that in Zambia’s interest. Oh I get it, THAT is what you want. Sir, Zambia is a free country and Zambians voted for a multi-party system. It means there will always be people who do not support the ruling party. And that is the…

    • +1
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      @Zambian Citizen, ….. And that is the beauty of it. What is more, they are free to articulate their position here at home and abroad. I personally do not care for UPND, but I care about democracy and at the moment it is UPND which is standing between democracy and dictatorship. May be I need to remind you that our President stopped talking about democracy along time ago. I pray that my dear compatriots in the PF can whisper in the President’s ear and ask him to speak a bit more about democracy. But I doubt it.

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      @8.3 mukula

      Well said…..these are the PF rats we have singing and dancing praise to lungu while we have stories of PF officials becoming rich beyond measure while all critics are silenced financially through the compromised judiciary or by the PF police….

    • +2
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      SA minister is talking about links with Zambia not PF. Again when someone says Zambia you hear PF. When HH said PF you heard Zambia. Please know that Zambia is not PF and neither is PF Zambia. Dull chaps!

    • vote

      @Mukula: Just the fact that you think upnd is what stands between democracy and dictatorship shows your shallow understanding of tangible political matters. If hh is so democratic, why has he failed to show that within the upnd??? 11 years no convention?? Support base regionalised, he has failed to penetrate even the urban areas of Lusaka or C/belt FIVE times!!! Democracy my foot!!! Democracy of failing to respect the will of the people?? FIVE times the Zambian people have rejected him and he goes to ridicule their wish in another country?? As if calling them fools for choosing PF/CL instead of him??? Democracy of falsehoods, insults and lack of respect??? NO WONDER THE RWANDESE ARE REJECTING WESTERN DEMOCRACY AND PREFER TO ENDORSE KAGAME WHO YOU CALL DICTATOR BUT IS DEVELOPING AND…

  4. +4
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    Set up fund with what…you have lamentably failed to invest in agriculture. How do you justify laying tarmac for $1.2billion?

  5. +4
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    Zambian citizen. …. you keep going on about racist paymasters without presenting concrete evidence but you fail to look beyond your nose as to what is happening Zambia……the chinese might not be white but that is where the yoke of enslavement is coming from……. they own us to the extent we have given them our national broadcaster . What government in the world hands over its national broadcaster to a foreign nation…… we are being recolonized under the guise of investment. Think zambia think of the future rather than live for now.

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      BRENTHURST FOUNDATION!! There is your evidence. Government through ZNBC was looking for a digital signal distributor. The matter was put before a tender process and Star Times proposal was the most feasible. Remember only DSTV use to broadcast ZNBC??? There is naothing of enslavement here, just pure business. If Multichoice had put up a more feasible proposition, they would have been given.

    • +1
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      @10.2 Zambian citizen

      There is nothing feasible with the Chinese takeover of ZNBC….it has disadvantaged Zambia, for 25 years the Chinese have exclusive rights to 90% of all revenues generated by tv in Zambia through the national broadcaster……..there was massive bribing involved to turn a blind eye and disadvantage Zambia.

  6. +4
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    This long over due for Zambia; a few questions for Minister Mutati
    1. What is the fundamental roles of the Development Bank of Zambia, Citizen Economic Empowerment Commission, Industrial Development Corporation, and to a linear effect the Bank of Zambia in relation to the objectives and set goals of this fund?
    2. Where are you [GRZ] going to anchor or house this fund?
    3. Is going to be backed by some form of legislation or simply an SI?
    4. What has been missing over the years that which you purport to learn from RSA now, when these guys literally copied all of strategic development plans and REFINED them to suit their challenges?
    5. Who is going to is going to manage this fund? CLASSIC: Look and reflect at the way our GRZ finance institutions are being managed, is gonna be any…

  7. +2
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    Zambjsn citizen, topstar is the de facto owner of znbc so of course your chinese colonizers will direct business their own way. Who else tendered. All government tenders should be transparent, you obviously have inside information so let us all know.. am googlin brenthurst foundation, will read and comment when i csn form an unbiased opinion, unlike yourself

    • +1
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      What de facto owner??? Which law was changed to make ZNBC a private entity?? So are the Chinese also paying the ZNBC salaries??? As I said, Topstar is the official Digital Signal Distributor for ZNBC. Analogue is going offline in October 2017. They have no bearing on the content and programming of ZNBC, their benefit is the pay channels they will start charging in December 2017 or so: PURE BUSINESS DEAL!!!
      You mean you don’t know the Brenthurst Foundation??? You didn’t know why Obasanjo came to see hakainde???

    • +3
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      Zambian citizen

      The Chinese have exclusive rights to set top box sales and all carriage fees paid by different channels to use the ZNBC multiplex on top of the all retails for anyone wanting to use the masts being erected……this deal is very unfair for Zambia and represents massive bribing to sell Zambia to the Chinese for 25 years…

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      If you ask any international broadcast and media expert or lawyer you will be told Zambia was sold down the river by lungu and PF in this ZNBC deal.

      It is worth mention with suspicision that all these unfair deals for mother Zambia including the mopani deal that was resigned in 2015 that gave mopani a lisence with fixed electricity price were signed during campaigns when lungu and PF needed money and materials…..

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      When DSTV was showing ZNBC Zambia did not have a digital national broadcaster as is supposed to be the case now……ohhh I forgot we have a digital national broadcaster on paper only but it belongs to the Chinese.. ..

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    When govt couldnot repay loan they gave majority shareholding to chinese with rights to collect income foe 25 years. If there was no law to approve tbat then the transfer was another illegal act. Keep it up zambian citizen
    Google brenthurst, then read oppenheimer family then read anglo america then lafarge.
    What is your hangup over brenthurst foundation other than mills criticises pf government and your illegally sworn leader. Pipo in glass houses please dont throw stones
    Actually brenthurst was formed to inprove economic situation in sth africa and that later advised other african countries …..two eyes to see two ears to listen one mouth to talk…..

    • +1
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      What basis does an organisation that is descendent from colonialism have to improve the lives of Africans other than economic exploitation??? You are aware that this foundation heavily funded hakainde’s campaign, right??? So their criticism of PF and “illegal” ECL is not surprising as their gamble with Hazaluza Hagain flopped!!! They also fund Odinga, Tsvangirai and are very close to DA and maimane…don’t just use your eyes to see, ears to hear and mouth to talk, use your brain to think as well!!!

    • +1
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      Zambian citizen

      You are just repeating the much used tactic by dictators to rally their unemployed thugs against democracy……colonial powers taking over.

      While you shout colonialists you unashamedly go begging the same people for bailouts and foreigne aid, is also worth mention that lungu and PF can not survive without handouts and Aid from the same colonists…..

  9. +2
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    I like democracy it gives people chance to participate in political development that is good accountability is key to any success.
    However our target must be to develop our nation stagnation kills the main objective of development.
    I would like zambians to be promoting investment and cooperation among the people of zambia to see zambia graduate from our present challenges.
    We should together hope for a better developed nation than wasting time bickering over un proved issues we should be looking to a better Zambia.

  10. +2
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    not new ..this is what napsa does to your contibutions before you attain 55yrs they would have already used your money to build or invest it in other ventures..one such example is those houses being sold by napsa in Kalulushi.

  11. +1
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    Am not comfortable with GRZ getting their fingers into the NAPSA money, Toll gates now its GRZ infra structure and business ventures…look at the GRZ direct pension scheme, where pensioners wait for years to get their benefits. NAPSA should not get to same level because GRZ delays in paying back dues. Let NAPSA operate with some independence they have enjoyed!

  12. vote

    #12.3, @Spaka like lilo, I don’t need to ask anyone outside, I am a consultant on African affairs! HH was in the privatization group and he received kickbaks that made him rich! He has money because of what happened! Why don’t you aaccept that? HH sold down Zambia! He wants power so much that he can sell Zambia to in wating groups again but NOT Hagain!

    • vote

      Why has he not been charged than ba consultant on African affairs seeing he has been opposing sitting GRZ for so long ??

      I think you will find that he has not been charged because he committed no crime….and errrr we are talking about ZNBC not HH ?

  13. vote

    Sharon as a so called consultant on AFRICAN affairs why dont you………. your inane comments ONLY relate to your abnormal obsession over HH . As a consultant you should research before you open your mouth about satanic freemasons, research and you will find your childish utterances actually expose your lack of knowledge of that organization .

  14. vote

    I am here to stop ignorance, delusions, illusions, hatred, immaturity, satanism, ignorance and its offshoots of tribalism, political incompetence and backwardness!

  15. vote

    He could have been charged but I cannot debate that on this forum! We are miles apart! If you cannot get little concepts from people of reason here, I wonder if in one paragraph you would get the reason why the thief has not been charged!

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