Lusaka Mayor Wilson Kalumba has proposed that Zambia be transformed into an offshore financial centre and compete with the likes of Dubai, Cayman Island and Mauritius.
Mr Kalumba has since advised Zambians to stop condemning those with offshore accounts.
Mr. Kalumba said the country needs to introduce off- shore banking and financial services to attract both local and foreign investments.
“We have an enabling environment among them: political stability, international connectivity such as by phone and internet and air travel,” Mr Kalumba said.
“What we don’t have is effective trust law and administration and high-level of financial confidentiality which is needed for wealth protection,” he said.
He added, “So instead of condemning those with offshore bank accounts, let us explore the potential of making Zambia an offshore financial centre and join the likes of Dubai, Cayman Island, Mauritius etc.”
What has happened to his tax, tax, tax idea, even on innovative talk time, is this kalumba’s Damascus road? Finally seen the light. GREAT!
Innocent tt
If they are making the money abroad they can keep it there but if its being made from cattle kept in Zambia then the money should flow into the country to help reduce bank interest rates and stabilise the kwacha.
This Mayor has got brains.
Is that a response for gogo Wina?
This mayor has no brains. Offshore cash then what happens to Zambians with onshore cash? Just asking. Oh I know he must be the HisHighness (HH) cadre with cash offshore and outside investment. Money laundering is the word here.
Disaster mayor.
Can you at once be reasonable and just ask reasonable questions like the first and last sentence without your useless second sentence? Just a friendly advise.
If I had enough money to spare, I would also want to keep some in a tax haven. At least it would not be wasted on $1million fire tenders… just thinking.
….am sure from that moment, this sleepy bored head went straight to sleep – YAK…
Did he wake up from his last sleep?
Having a tax haven is one think but keeping your money outside is another. Mayor this is why you want to tax even talk time- because your government does not collect enough tax!
What is wrong with this mayor, he has serious problems i think he is in a wrong country holding a wrong position.
PF come on wake up!
Chibamba Kanyama said it and stated he knew many in the current government with offshore accounts.
Very funny Mr mayor. If you are poor just leave us with our money in offshore accounts. Concentrate on cleaning the city as that you can’t even do.
Money kept in Paradise die with you once you die! This mayor must go! He must go with HH!
this is the most sensible thing someone has said in Zambia for all these years!
he is 100%right.
God help Africa. Please remove the devil hovering over our Continent. What have we done we your children to deserve this.
Are you sure we come from the same stock of Adam and Eve.
Well said Mayor