Thursday, March 28, 2024

China is NOT taking over some of Zambia’s state-owned entities-Citibank (updated )

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President Edgar Chagwa Lungu (centre) witnesses the signing of Memorandum of Understanding on Muchinga Province and Jiangxi Province by Muchinga Province Minister Malozo Sichone (left) and Acting Governor of Jiangxi Province Yi Lianhoang in Nanchang, Jiangxi Province, China on Wednesday, September 5,2018. PICTURE BY SALIM HENRY/STATE HOUSE ©2018

Citibank has dispelled assertions by some sections of society that China is taking over some of Zambia’s state-owned entities due to debt.

The Bank’s Regional Head for East Africa, Joyce Wainaina, says the advent of social media has given birth to fake news.

Ms Wainaina says China is a force to reckon with in meeting Africa’s infrastructure needs that are inhibiting intra-Africa trade.

She was speaking when she addressed journalists during the Middle East and Africa media and community summit.

Ms Wainaina said the continent requires about 100 billion Dollars to finance infrastructure gaps in the next 10 years, which makes partners such as China more cardinal.

She said China has been active in various sectors such as roads, rail and energy which are key in the transformation of the continent.

Ms Wainaina said the Chinese private sector is also present in Africa and is contributing to economic transformation.

She cited China’s largest ladies shoe manufacturing company, which has set up a factory in Ethiopia ad helping to develop the leather value chain, and the ceramic tile factories in Kenya, Tanzania and Senegal as some of the Chinese private sector entities in Africa.

Editors note: Our earlier title read China is taking over some of Zambia’s state owned entities-Citibank.We apologize for the error of omission in the title which did not reflect the message Citibank was elucidating.The correct title is China is not taking over some of Zambia’s state owned entities -Citibank.We sincerely apologize for any inconvenience caused.

37 COMMENTS

  1. Hope our friends in opposition political party can listen.

    It’s sad that, they traveled world over preaching ill about Zambia that is sold to the Chinese.

  2. The headline and the article itself are in conflict.Its hazy and clouded just like the true depth of Zambia’s indebtedness but i won’t doubt China taking over some Zambian assets in the future.

  3. Lusaka Times the Headline is very misleading in relation to the content of the article.

    The Headine should read ‘ China is “NOT” taking over some of Zambia’s State-Owned Entities. Citibank

  4. Every one knows .no doubt lungu (wung lung ) sold our country s sovereignty to the highest bider China

  5. Ati…. “She cited China’s largest ladies shoe manufacturing company, which has set up a factory in Ethiopia ad helping to develop the leather value chain, and the ceramic tile factories in Kenya, Tanzania and Senegal as some of the Chinese private sector entities in Africa”

    Really? We need China to do the above for us? The raw materials are ours, aren’t they? Is there anything we can do ourselves?

  6. My Goodness, Africa need China to do all the above? What is the essence of training University Graduates in Africa. Non of the Chinese Goods is welcomed here in United States. All those Chinese they call expatriate in Africa can not even qualify for the lowest job here in the States. They are experts in Africa. University of Zambia, university of Nairobi, why are your graduates behind making Chinese illitrates looking like experts. LEATHER FACTORY,CERAMIC FACTORY, SHOE FACTORY. AFRICA REALLY NEED CHINA FOR THIS. SHAME.

  7. Pf desperation for you…so quick to try to cover up they can not even proof read! Evil people that have sold the country for 30 pieces of silver.

    • @Mwabupo you have sharp eyes, sharp ears, and sharp mind. Motive: The future of PF is in Chinese hands. More silver needed for 2021. Who will fund PF 2021 election campaign? Chinese.

  8. Headline is not misleading – it is an error. this item was on the radio yesterday and the headline said” China is “NOT” taking over…………….

  9. Regardless of headline, the story content is clear. “The Bank’s Regional Head for East Africa, Joyce Wainaina, says the advent of social media has given birth to fake news.” “…China is a force to reckon with in meeting Africa’s infrastructure needs that are inhibiting intra-Africa trade.” The reality is the fake social media cr@p is meant to discredit the Chinese image in favour of the west. That’s why Trump is soon to approve an initiative to overhaul US investment strategy in Africa-the B.U.I.L.D. Act.

  10. EUROPE AND USA ARE GETTING OUT AND CHINA COMING IN, IN AFRICA CAN IMPROVE STANDERED OF LIVING IN AFRICA THATS WHY THIS WHITES ARE NOT HAPPY WITH WHATS GOING ON IN CONTINET FULLSTOP

  11. Lusaka Times,

    Thank you for the correction in the original error in this articles title. It’s encouraging to see that you are indeed impartial in reporting the News and are a listening publication.

  12. Has Lusaka Times been taken over by Chinese?? What manner of reporting or indeed editing is this??. error after error.. one minute state institutions are taken over the next statement contradicts heading!

  13. Have faith in the leadership God has placed over Zambia. False and misleading statements by our journalists just drive a wedge between us the readers and the journalists themselves-not between us and our government. Signs of this government’s efforts to develop our country are very visible in virtually every province. If this country goes up in flames, some of us have nowhere to run to. Please, let our government work and develop our country in peace.

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