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Saturday, August 8, 2020

State House clarifies on the reason why President Lungu Signed for the ZESCO financing guarantee

Headlines State House clarifies on the reason why President Lungu Signed for the...

State House has clarified that it did not know the content of the decision of the Constitutional Court (con-court), regarding the stay of ministers in office as alleged by News Diggers Newspaper.

Special Assistant to President Lungu for Press and Public Relations Amos Chanda said in a statement issued to ZANIS in Lusaka that at no time did state house know of the contents of the Con-court decision regarding the matter.

Mr. Chanda explained that what State House was aware of was that there will be a decision by the con-court for or against the ministers’ stay in office

“It therefore does not follow that we knew of the content of the decision. We knew of the decision date and the possible outcome of either affirmation or nullification. Notices of judgement are always issued ahead of delivery” said Mr. Chanda.

State House Press Aide stated that News Diggers misconstrued his position when he provided a detailed response to malicious allegations of impropriety in the signing of a Sovereign Guarantee that was aimed at raising finance for power imports by ZESCO.

Mr. Chanda explained that he told News Diggers that the Minister of Finance could not sign the sovereign guarantee on August 8, 2016 because there was a con-court decision on August 9, 2016 on the continued stay of ministers in office.

He said President Lungu took extra caution not to allow the minister to sign because of the impending decision of the Con-court on the ministers’ since they remained in office on a court order.

Mr. Chanda said that the only reason President Lungu signed the sovereign guarantee instead of the Minister of Finance was that the Head of State was the only elected official who could lawfully discharge the functions of Cabinet which had been nullified .

He maintained that News Diggers misconstrued his position when the paper re-published a segment of the same interview angling it on a different subject.

Mr. Chanda said the newspaper’s view cannot be used as the premise upon which any fair comment or reaction can be based by any party.

71 COMMENTS

    • You are now starting to twist your knickers Chanda. I really feel sorry for what will happen to you when government changes…. enjoy it while it lasts.

    • $150 million is still missing, stolen by Lungu & Lewis Mosho. I’ve never seen a docile & dwanzy bunch of sleepy pipo like Zambians who get robbed but still sing praises for the thieves.

    • It was illegal! Was the financing sourced? If so how much? Will u explain why there was a difference of 150 million US? Amos these issues should also be addressed..

    • Its really skin cringing reading this …really feel like throwing up..we can not have such vile dishonest people in State House!!
      Zambians wake up from your docility!!!!

    • And then you have some dingbat coming here spewing utter nonsense about loan-to-value (LTV) ratio…some people need slapping and spanking!!

    • Where is the so called “Senior Citizen” to impart his wisdom then shamelessly add 50 to the vote up button…really laughable…these chaps are poisonous educated fooooools or where is Lazy Lungu’s maid; XXXX Princess who is not worthy of that ethnolinguistic group of beautiful black Afrikans.

    • Your are clarifying about why President Lungu Signed for the ZESCO financing guarantee.
      Ba LUNGU nomba ninshi tamwasukila? Assuming these guys are telling lies, some lies if told repeatedly and no one appears to give clarity which citizens deserve, have a tendency of metamorphosing into some kind of truth. All that Lungu, the great leader for some, has said is that the people questioning his nationality ate mad men. NOW WE ARE TOLD THAT LUNGU HAS THREE NATIONAL REGISTRATION CARD! To me that in itself is a problem. THERE MUST BE SOMETHING DARK ABOUT LUNGU!

    • maloza – the question you should asking is where was the money taken in the first place …we need to a thorough independent audit of these two organisations ZESCO and ZAMTEL as they are just used as cash cows…you should also remember that the period in question was during elections campaigns when Fossil Chikwanda was issuing blank cheques to his Party SG.

    • To justify one lie, one can tell million lies, but still the lie remains a lie and comes back to bite again and again and again..
      Amos, you will be the first to be grilled by next government, whether of PF or any other, as everybody is fed up with lying Mutware Coterie.

    • My conclusion, do not argue with me, it is my informed position. Evryone who is supporting the madness at state house and the masquerades in general is mad and deserves a new plot inside Chainama Mental Hospital. surely this is too too much of madness, theft, corruption, bu pompwe and shameless defence of madness bakolwe aba.

    • Amos Chanda face the mirror and repeat the yarn you’ve woven! Please do not take the citizenry for granted and think every one accepts to be lied to! The president should have waited for the right office to sign and as I see it probably the PS of the responsible ministry could have stepped in! As for the president he abused authority! Both ECL and Amos must count their lucky stars for subsequent government legislators let abuses by predecessors go to sleep!

    • B.R Mumba Sr says the 150 million US dollars is normal under such transactions and he says he is an investment banker. That sum is 30% of the 500 million dollars contract amount. Where in the world is a dollar loan costing that much? What they do not know is that these moneys are moved electronically and settle or clear in New York and it’s so easy to know where it went.

    • What a waste of time!!! You guys have no clue on how the dynamics of a Sovereign Guarantee work. Some 1diots even think an SG by itself is a loan.

      I think GRZ needs to add more finance classes to a high school curriculum in Zambia so you at least have some well rounded graduates.

      UNZA also needs to add some general education classes such as Commerce to be mandatory, otherwise you have a bunch of educated yahoos masturbing just by hearing LTV. So sad indeed!!!

      Stay blind … it’s better for you that way ~ B R Mumba, Sr

    • Abena Frank Mwenda … what an ignoramus this chap is and wants to mention New York just to sound palatable as if it’s the Bank of International Settlements.

      Try getting an South American Sovereign Guaratee signed by their President and see if you can even get 10% liquidity out of it using the best monetizer in the world based in the U.K.

      For the last time, an SG on its own is not a loan bane … and don’t comment on things that are beyond your pay grade that are technically sophisticated.

      Just stay blind … it’s better for you that way ~ B R Mumba, Sr

  1. No need to explain everything – opposition is too petty that they leave the elephant in the room and concentrate on an ant in the corner

  2. What was the rush for? He was supposed to wait but because of kick back, he signed. I think that is clearly abuse of office. Malawi is very poor because of the mind set of its citizens. Copperbelt is now a typical village because of HH who sold the mines. Decision making is a huge problem in most Zambian leaders

    • @ Kalos2020 for some people no matter the fact they’ll keep being in denial and the HH that they keep saying sold the mines has not been taken before any judge by government to answer to the accusation! Actually for one to sell national asset as mines would be gross economic sabotage punishable by capital sentencing thus waste not your time with the likes of @ DJ7 who will keep accusing HH of selling the mines and choose to be ignorant of where to locate the courts or even the police stations where they can lodge a complaint and give statement on sale of mines by HH! Anyway the Ministry of Mines continues to do the country a disservice on this mines sale saga for not releasing the report which is in their possession!

  3. There’s nothing wrong because we have an executive President. The power deficit was a national crisis that couldn’t have waiting. You were elected to government, not to follow the opposition petty politics. You’re in the driving seat, if you allow Hichilema, Mulongoti, Kambwili, Kalaba, Siwale and others to be your navigators you’ll be lost and crash in the wilderness where they’ll feast on you.

    • Ayatollah, Do you live by the principled Ayatollah of Iran?

      Lungu and most of the cabinet ministers and PSs are going to jail in 2021.

      Their criminal acts are well documented, their bank accounts, mansions, posh cars and air tickets speak volumes about their living beyond means.

      May be you will be one of the same as well.
      Be ready fake Ayatollah.
      Early Eid Mubarak

  4. I think Lungu can’t learn from Chiluba, there is no garauntee of safety from whoever takes over reign of power from him, either in PF or Opposition.

  5. People have advised this government on the need for transparency regarding their activities but they still wait for ‘breaking news’ from other sources to come forward with versions of their stories. Why they cant be proactive in informing the nation is a mystery that makes them open to accusations and what not. The power crisis in that year 2016 was biting everyone and therefore it does make sense that whatever had to happen needed no further delay. But you wrapped it up so tight hopping no one would know. Amos and your boss take note, this is a different era of social media etc were its almost impossible to hide information. Keep it up and the people will continue filling in the void with their versions.

  6. flag Alternative Facts Fake News S**thole Countries Social Mobility Chinese Zambia Police Reservists Corruption scandals: Ambulances Fire Trucks Mukula Trees Ndola-Lusaka Rd Malawi Maizegate Fuelgate Swaziland landgate Zesco Loans

    These thiefs would never stop at nothing… look how they get caught out in their own web of lies in an attempt to deny and justify their looting. He says ministers were not allowed yet judgement had not been passed on the day. These ministers were allowed to do all the ministerial functions up and until the very last day when the Concourt ruling against their illegal stay… they were doing everything, so how come this minister was not allowed to perform this one function? The answer is easy, Lungu positioned himself to steal and pocket $150 million for himself and a few of his minions. Mate these guys have no shame whatsoever.

    By the way doesn’t the law/constitution say the President is not allowed to perform some duties, like obtaining a national debt/loan when cabinet is…

  7. flag Alternative Facts Fake News S**thole Countries Social Mobility Chinese Zambia Police Reservists Corruption scandals: Ambulances Fire Trucks Mukula Trees Ndola-Lusaka Rd Malawi Maizegate Fuelgate Swaziland landgate Zesco Loans

    …By the way doesn’t the law/constitution say the President is not allowed to perform some duties, like obtaining a national debt/loan when cabinet is suspended? Isn’t he only allowed to perform small duties that will not have national impact soon after his potential departure.

    I’m really surprised that Zambians have become this passive and sleepy not to protest against few guys raping and looting their country like their is no tomorrow… is it fear, dumbness, stoopidity, etc. causing this? This amount of civic unconsciousness is staggering. What happend to the legacies of Lucy Sichone, Akashambatwa, Fred Mmembe, to name a few – men and women who would stand up for what’s right even if it meant risking their their freedomsor even their lives?

    • The so called docility of Zambians is a function of the socioeconomic trajectory the nation has taken since 1991.The evolution of society from then has effectively fragmented the social cohesiveness and situational awareness of the middle class.This has happened because of the proliferation of the mas media,most are now driving themselves,they live in some form of yard fencing with members of their immediate families.Personal values are now more important than societal values.Yes,social media should serve for social cohesion.But Zambians are not westerners.We use it for different purposes in a different socio-economic and political environment.A Zambian today is too “busy” to be interested in the man next door.Everyone is comfortable or uncomfortable in their own little cocoons

  8. Self incrimination is the order of the day at state house. Whoever gave powers to this delusional chap should start to think twice. Surely why have we reduced the office of presidency to this level? After misleading the ministers with your fake laws now you want to justify why he signed that agreement? In what capacity did he sign because only the minister of finance is mandated to sign such agreements? He saw a loop hole and took advantage of it? This is a disaster in the making, and your end my friend will be so painful together with the one you are defending every day. This magwame thinks we are foolish. Nonsense.

  9. Self incrimination is the order of the day at state house. Whoever gave powers to this delusional chap should start to think twice. Surely why have we reduced the office of presidency to this level? After misleading the ministers with your fake laws now you want to justify why he signed that agreement? In what capacity did he sign because only the minister of finance is mandated to sign such agreements? He saw a loop hole and took advantage of it? This is a disaster in the making, and your end my friend will be so painful together with the one you are defending every day. This magwame thinks we are dull. Nonsense.

    • Guy Scott warned us but they said he was just a bitter old white man…I watched a YouTube video where they handed PF leadership to Lazy Lungu, its a sad sight because you could see that there was a lot of arm twisting in the background with GBM, BUFFOON CK all in the background.

  10. So Petty! These same guys would have been complaining about power shortages! Create better campaign messages for 2021 not this ma rubbish!

  11. We have always said lungu is a corrupt theif with no morals or integrity….he is trying hard to legalize corruption by setting bad presidents for others to follow……..lungu is a corrupt theif.

    He jails siwale for defaming him on calling him a forigner but does nothing to people calling him a corrupt theif….

    We will be vindicated.

  12. Everything that comes out of their mouths is lies. lies and more lies. THe corruption levels are the highest they have ever been and we are heading to total destruction of this beautiful country through corruption, lies and theft !

  13. No money was ever raised through the guarantee.
    But I agree with #6 FDD FOR 2021 on the need for transparency in governnent and state house in order to preempt largely false speculation by upnd cadres.
    And this Amos Chanda boy, he isbsurely ignorant and destructive to the Presidency. Did you see his ridiculous defence in court in the case where he is cited for contempt by that buffoon Kambwili? I mean the piece where he insists Chimbwili is a thief even if he has not yet been convicted of the allegations of thief. The boy is pure underfive!! No different from h.h!!

  14. This guy has reached that stage where arrogance takes over rationality. Whenever I think of this guy I consider the professionalism that a guy like Arthur Yoyo exhibited in that office. It was amazing even when you try to dig up his press releases. This guy is like a call boy who has been called to act as cheer leader while the actual office bearer is being attended to in an emergency.

  15. Its clear that Lungu’s signing of a Sovereign Guarantee is wholly null and void. There is nowhere in the republican constitutioon that allows him to sign Sovereign Guarantees, nowhere. This is the preserve of the Treasury. It’s just shocking how someone so brazenly stupid and ignorant could be made president of any country on earth of in hell.

    • Marshall Tungulu: You are very right. Only the Minister of Finance is a corporate body and can even hold company shares on behalf of the republic. Again it’s important to ask, where was the attorney general?

  16. 11 LT robot alias Spaka lilo and your ilk, if you are waiting for h.h to vindicate you, you will wait forever while the rest of us including your h.h, move on.

  17. Chanda is thunder.
    He strikes any time and supports things blindly like the proverbial Boxer in Animal Farm-Napoleon is always right. Chanda go back to school.You missed something along the way.

  18. Bitter,selfish stupid *****s together with your ng’ombe illede sheep rider with brainless fat Albert.

  19. Kona lona likocokile la kange Chanda, apuu, mane inge lilete la mutuba leli melile meeno kuli cwale fa kandate ka mumuna mwa cobeni!

  20. At least He has mad Progress in adding a Megawatt to ensure lights are On Zambia is likely to be 4th or 5th in installed capacity in Africa may be after 2 years if the new Kafue lower under construction is to capacity

    He did a good thing for the country

    Ethiopia 3,822Mw
    South Africa 3,595Mw
    Egypt 2,844 Mw
    DRC 2,593 Mw
    Angola 2,415 Mw
    Zambia 2,397Mw

    There are few angel financiers in Generation and Power supply agreements There has to be some sovereign guarantee to ensure the off taker will perform and without a sponsor in the case of Zambia It becomes…

  21. At least He has made Progress in adding a Megawatt to ensure lights are On Zambia is likely to be 4th or 5th in installed capacity in Africa may be after 2 years if the new Kafue lower under construction is to capacity

    He did a good thing for the country

    Ethiopia 3,822Mw
    South Africa 3,595Mw
    Egypt 2,844 Mw
    DRC 2,593 Mw
    Angola 2,415 Mw
    Zambia 2,397Mw

    There are few angel financiers in Generation and Power supply agreements There has to be some sovereign guarantee to ensure the off taker will perform and without a sponsor in the case of Zambia It becomes

    • And what are the head of population/kwatts in each country ??

      Zambia has the smallest population

  22. Nothing wrong, let’s move on! If HH wants he can sign on the Batoka too or some Namwala pigstry! No problem. He signed a lot on the scams of privatization and he thinks we have forgotten?

  23. very very trick That is why Prioritizing a long-term National Security Energy mix is important in an integrated Energy mix planning strategy to avoid and insulate the president from doing everything thing possible to ensure lights are on Investing and purchasing plan that will be necessary should the climate effects affects because to ensure capacity costs a lot You sometimes pay just for capacity even when not consumed Investing i hard infrastructure in the energy will save money and avoid critical decisions

  24. Above is installed capacity as in hydro’s with high climate risk exposure others have a near balanced mix in there generation

  25. There as in areas of generation for their Total installed energy mix

    • Indeed next item. Aka donki and Ama loba; ECL and HH respectively. Good analogy Malembe Malembe. Well illustrated: Aka donki very wise and Amaloba, worthless insults by worthless people.

  26. so amos you are confirming that the ministers were working illegally right! Amos you will run away from Zambia if you are not careful. you seem to think you are running a market stand!

    You do not fit to be working at state house….

  27. Well if Ministers were working illegally, then PAY BACK taxpayers cash you all illegally siphoned from the treasury.
    We have waited for long. If only PF showed the urgency paying back illegal salaries drawn, like the urgency Jona showed in not waiting, & rushing to sign that loan, where a percentage disappeared in their pockets, & funded the PF election campaigns.

  28. WOW IF NEWS DIGGERS NEVER DUG DEEPER WE WOULDNT KNOW, EISH ZAMBIA IS FOR LOOTING INDEED AND WHATEVER SCANDAL ECL IS INVOLVED HE IS ALWAYS RIGHT BY AMOS CHANDA, AH AMAZING INDEED

  29. Read into it as you may, but the Constitution does stipulate that one of the functions of cabinet is to;

    “(e) recommend, for approval of the National Assembly—
    (i) loans to be contracted by the State; and
    (ii) guarantees on loans contracted by State institutions
    or other institutions”..

    The Minister of Finance is authorized to sign for them thereafter.

  30. I don’t know who to believe now, Chanda or News Diggers. Anyhow, if News Diggers are saying the truth am sure they reported the facts counterchecking that those were facts because in journalism getting and checking the facts is ideal way of reporting or one loses credibility. Sometimes reporters are compelled to report false information which leads them to self destruction. And even the readers or listeners, without using the sixth sense, want to believe what they read or hear. Wisdom is the best virtual in understanding prevailing situations. When you rush into conclusion you crush.

  31. Connect the dots – he signed so that Tasila could be paid for the Transformer oil she supplied to ZESCO for which she was still owed – Total disregard for procedure – and this is what you get when you have total breakdown of the Rule of Law – you end up with the Rule of Men and Women – exploitation of man by man – they borrow $500million instead of $350million and pocket $150million – these are some of the hidden debts IMF is talking about – You can f00l Zambians all the time but you can’t f00l IMF and WB! We need answers for the painful and punitive tax regime we are being subjected to! Abalya Mwibala ni bakoswe!

  32. Imwe ba Constantino Chiwenga, where is the evidence? Just because Kambwili said so? From Chanda’s explanation, it is obvious the News Diggers misinterpreted his explanation. It is true that dates for Court judgements are announced well in advance for the benefit of the litigants. Kambwili’s loud mouth will be his downfall. He just yaps.

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