Financial Analyst Mambo Hamaundu has challenged the government to provide full details on how far it has gone in setting up a sinking fund to refinance the country’s debt.
Mr. Hamaundu told QTV Business News that it is important that the nation is availed with the full details on how far the government has gone in setting up the sinking fund.
He said the failure by government to set up the sinking fund confirms the concerns raised by the World Bank that 75% of the Zambian Cabinet’s decisions are never implemented.
Mr. Hamaundu said former Finance Minister Felix Mutati told the nation that the government was in the process of establishing the sinking fund saying up to date, he wonders if this fund has been set up.
Thus is a useless Government….
Cry Zambia cry !!
This man is unfortunately Tonga is Mambo Hamaundu.
Is he UPND , hiding behind the blanket of an Analyst? You do that math. I wont bother.
So, this is water off a duck’s back.
Like ALL of you I trust President Edgar Lungu, who time after time has proved to be the BEST President we have ever had!
I have a PhD CIMA, FCCA, Bsc, BA, Msc, BBA and I am looking to puruse my second PhD next Year.
Thanks
BB2014,2016
Some one tell me more about this sinking fund. Is it the money you pours over a sinking country in an ocean the way you world pour salt in water or sugar when you are making zigolo or what? How sinking is Zambia at the moment?
Mushota you need to sink some of you qualifications. They are almost a sentence in their own right. You next PhD, assuming you actually get these PhD’s, you will be talking about it on LT for another few years. Out of interest what is this PhD you are perusing (not puruse) through in? Are you still in date on LT?
Sinking fund? Kikikikiki, April F00Ls day has already passed. PF is too morally bankrupt to set up a sinking fund, tackle debt or fight corruption. PF have no fiscal discipline. It’s a miracle that the Kwacha hasn’t bleeding.
These thieves are used to instant, easy wealth from bribes from Chinese loans & road contracts. They’ve stashed the loot in off-shore $-Dollar accounts with visa/mastercard ATM accounts so that they can withdraw from local ATMs. They don’t care about what happens to the rest of PF00Ls as the economy melts down. Just continue dancing to Dununa Regret. Ba na mi gong’a.
Mambo Hamaundu is a professional accountant and knows very well how to get an answer from government on this issue if he is really looking for one. Relevant officials can be asked through appropriate channels and they would be obliged to respond. If he is commenting in general terms, as most of us do, that is fine also but he will get no answer and he shouldn’t blame anyone if he gets none. I doubt it Hamaundu doesn’t know the answer though. How do you put money into a sinking fund when you are in deficit? This is an informal discussion site and government does not come in to provide answers to whatever are questions are asked.
Haters Association of Zambia
Mambwe: To speak to your govt by way of a challenge is not to hate it or hate whoever heads it. I know that many people like you have been raised to think of yourselves as Zambia’s aristocracy above all us who do not originate from your parts of Zambia. It’s even in the churches. You hate even the way some names sound. That’s why you even mock names that connect people to their ancestors because only names such as yours are Zambian enough. I see this regularly in social situations including on this site. And then ECL starts wondering what is dividing Zambia. I have had to take to reading widely on nation-building to come to the conclusions I have starting from earliest efforts to forge one state out of Zambia’s various communities.
The only thing PF understand are
1. stealing
2. drunkenness
3. corruption
4. lawlessness and violence
Anything that has a semblance of intellectual or analysis is far above their cognitive abilities. So all the best sir, in trying to get a coherent answer from them. You can ask them and challenge them a million times on how to improve the fortunes of our country, but as long as they can hold on to power, continue stealing, and perpetrate lawlessness, they don’t care what anyone says or thinks. They only act against those who threaten their stay in power or corruption – as evidenced by their attacks on the FIU report, closure of the post, and persecution of opposition. Zambia is doomed under this lot
iWE Mushota before you rant get your facts right so just because one in tonga and learned then they cant querry ,just sit with your PHD
I wonder why people respond to this mushota b1tch whenever she is having her painful dirty pees. she just provokes you and wherever she is she must be laughing her head off. Are you new to LT.
The sinking fund is very cardinal . It is intended to help resolve our sovereign debt. It matters less the issue was tabled a by Tonga,Nyanja or Bemba. Mushota you need to change your lenses . Shut out tribalism in your contributions.
@kanyama. how does it work?
This Hamududu or Hamaundu thinks he is a Sishuwa. Up to now Shishuwa is the only one who has been making sense. Me I know I am just talking crap but for Hamaundu to be talking trash without realising it is a disaster.
African countries survive what ever happens, they are designed like that!
Promise was in “stinking ” funds brother…..forget these Africans leaders…all are like prostitutes.
Sinking fund has already sunk without trace.
It’s not incompetence, it’s corruption. The government’s decision are based solely on the premise of self enrichment over the public’s interests. These thieves will eventually be caged.
A sinking fund is an account that is used to deposit and save money to repay a debt or replace a wasting asset in the future – a long term savings account to cover future demands, which could be a bond, for example.
I am not sure where the money to ‘save’ will come from in the first place – but that is what needs explaining.
The problem is that comrades will always talk without understanding anything…. worse off those that have one educated member of their family…. certain things do not need politics because we all know that even hyenas want to be good politicians and feel that what makes them good is what they say…. Hamaundu is just offering an insight of what the public should expect from the government after a pronouncement of the herein said sinking fund…. think for those who will be alive after 40 years from now…. not the rubbish of of being what and holding what…. a PHD of noise! We want a people who are capable of making sound judgement….