The opposition NDC says revelations by State House that President Edgar Lungu personally signed a sovereign guarantee for a South African firm to secure a 500 million United States dollars loan for Zesco are extremely shocking.
NDC General Secretary Mwenya Musenge observed that State House has been prompted to issue an official statement over the matter after the corruption scandal was exposed by the private media.
Mr Musenge charged that President Lungu abused the authority of his office when he signed the guarantee for a Stag a South African based firm.
He said the signing of the guarantee in secrecy and without consulting relevant Government wings shows how desperate and corrupt the Lungu regime is.
“President Lungu should have instead instructed the Permanent Secretary at the Ministry of Finance to sign the sovereign guarantee if indeed this whole deal was not wrapped in corruption. Equally, the secretary to the Treasury should have been used as a guarantor to sign the sovereign guarantee on behalf of the Republic of Zambia,” Mr Musenge said.
“However, we are informed through the African confidential Newspaper that the Treasury was not involved in this whole deal. The Stag deal is a matter of public interest and we are concerned as to why State House did not publicly announce this undertaking,” he said.
Mr Musenge charged that it is clear that the whole 500 million Stag deal is a suspicious undertaking looking at the manner in which the guarantee was signed.
“As NDC, we urge the Anti Corruption Commission ACC to immediately institute investigations into this deal. We further wish to implore all parliamentarians in the country to use the Stag scandal as part of the grounds to impeach President Lungu,” he said.
Mr Musenge further charged that it is clear that Mr. Lungu is reckless and has been abusing his office for his own personal gains.
“We wonder how many other sovereign guarantees that the President has signed during his two year tenure in office. The grand corruption scandals involving the Lungu régime are worse than the Frederick Chiluba and Richard Sakala graft scandals.”
He charged that President Lungu has reduced Zambia to a mafia state.
“The Head of State has lost shame and morality and seems to be comfortable associating himself with corrupt activities. Further, we are informed that Zesco only requested for 350 million U.S dollars in the Stag deal and not 500 million dollar’s. The NDC is demanding for an explanation from President Lungu on how and where the 150 million dollar’s from the stag deal was diverted to and how it was used.”
He stated that it is clear that the 150 million U.S dollars was pocketed as a commission by President Lungu and his associates.
“As a party, we are worried with the risky loans that the Lungu regime keeps on contracting. The Head of State has lately been authorizing the contraction of loans without thoroughly examining the consequences of acquiring such debt,” he said.
Your turn awaits you in due course. Throwing stones while living in a glass house!
No need to investigate this.
Musenge should worry about his party
The country is under the guidance of one of the most competent lawsuits it has ever produce in President Lungu.
Sit back and enjoy the ride everyone is enjoying.
Thanks
BB2014,2016
1. STAG Africa CC is NOT even a registered company in South Africa. Check for STAG on wwwDOTciproDOTgovDOTza/products_services/searchDOTasp
2. STAG Africa CC is NOT even registered financial institution in RSA. Check wwwDOTfsbDOTcoDOTza/Departments/fais/searches/Pages/providersDOTaspx
3. STAG Africa CC is NOT even a Ltd company. A CC company is like a SIDO company
4. STAG Zambia shares same address as Lewis Mosho’s law firm.
This $500 million is most likely money STOLEN from Zambians, laundered and borrowed back to them in order to pay for Tasila’s Transformer Oil tender & Lewis Mosho’s Energy-saver bulb tender. To make the mattress wet, they even short-change Zesco to a tune of $150 Million.
Am so peeplexed at how many scandalous stories in PF. It’s weekly.
LOOTING IS THE NAME OF THE GAME AND ALL IN PRESENT LEADERSHIP ARE INVOLVED !!! PEOPLE HAVE TO START SEEING THE REALITY AND STOP TRYING TO BLAME OPPOSITION FOR THE SITUATION WE FIND OURSELVES IN – – THE ECONOMY IS IN BIG TROUBLE, PEOPLE DON’T HAVE MONEY, PRICES CONTINUE TO RISE YET WE KEEP ON SUPPORTING CORRUPTION
Right up the first week when he assumed office lungu tried to hide a $169 million loan for the security services……exposed by the post.
Again the fact that this was done in secrecy raises a very bad taste ….what is lungu hiding ?
Yesterday we managed to hack Lusaka times was awesome….
Lungu is the worst corrupt leader in African today. It boggles my mind how a sane person can support such reckless abuse of office and later alone power for personal preservation and aggrandizement. Even the PF die hards can not believe what this Mutaware is doing to our economy. The slogan was more in our pockets but alas its more money in the minions pockets together with their cadres. Shame.
Worse than his mentor, Zim Parliament says it has given former president Robert Mugabe a third chance to appear before the mines committee to face questions on the alleged disappearance of $15 billion in diamond revenues while he was in office. Committee chairperson Temba Mliswa speaks with journalists about the issue.
Rub.bish ba Mwenya Musenge, utter ru.bbish. No 500$ was ever borrowed. And even if ACC investigated you will not accept the results anyway.
Instead of wasting your time Mwenya Musenge spend it repairing your 52 minibuses, you need the money, looking at the state of your shirts.
So amos chanda was lying when he tried to explain why lungu signed for that $500 million ?
Spaka just join Musenge in NDC. You are wasting time in ions, maybe a little better to waste it in NDC for a change.
Cader….. you are defending a corrupt theif who accepts the allegations against him by his silence ,
are you lungus spokesman ?
PLEASE HELP US NO NET WORK AIRTEL FOR THE PAST TWO DAY. BETTER THEY CLOSE DOWN AIRTEL
To think that a corrupt man, Lungu is supported by an MIT cabal on this forum is beyond me
It’s shocking that all the fleet of minibuses that Mwenya Musenge owns were once GRZ vehicles. Who comes to equity must come with clean hands
The government is working hard and achieving its promises of developing this nation! Some losers are jealousy! The talk is retrogressive always! What a shame! You cannot develop a country without money! Every time the losers hear money, they cry, “Corruption!” What is wrong with some Aflikaans? Bantustan?
Only in your sick mind is it ok to be signing secreate loans……
HH is the worst “opposition tribal leader” in the history of Zambia and Hafrica. He will never be president Hagain! Never! Mr. President you did well! ConCourt Had ruled that all ministers should cease to act in their position with immediate effect and Hazaluza Hagain wanted to destroy our country by creating a vacuum through a perpetual senseless shutdown and showdown! YOU SIGNED FOR ZESCO, because you are the king of Zambia, and it is not! You showed it who is boss! Case closed!
Keep wasting your time and people’s time!
Kambwili, Kambwili, what is your problem iwe gollira? What has happened to all that money where you fly to London in the morning for a cup.of tea and back in Lusaka for supper? Has the tap ran dry?
Only corrupt proceeds beneficiaries can support such a shameless corrupt President, this guy is abusing his office like a toilet, financial laws can not allow him to sign in the space where the signatory is minister of finance, unless only in case where he was confirmed acting in that position, that is fraud! Anyone supporting such a daylight robbery, his or heart is with the crime culprit, does not have love for this country at all, for sure!
Meant his or her heart
Spaka lilo and Company, as I said the other day the damage to your party and your h.h is already done. You have told so many lies and perhaps a few truths and half truths such that the majority like me are finding it difficult to differentiate when and when not you are telling lies. Having discovered your immorality and packaged lies, my only safe reaction and majority other Zambians is to ignore or shoot down everything that you say, even if you tell a truth now.
Now after the damage, h.h is clearly not the alternative leadership that we require. Best bet for upnd is to try another leader, h.h is soiled beyond safe laundry.