Minister of Finance Margaret MwanakatweMinister of Finance Margaret Mwanakatwe
Minister of Finance Margaret Mwanakatwe

Finance Minister Margaret Mwanakatwe has directed that no Board Chairpersons of State-Owned Enterprises(SOEs) should be accorded offices and personal to holder vehicles.

Ms Mwanakatwe says this is part of austerity measures.

The finance minister made the directive in Livingstone today at the 2nd Industrial Development Corporation-IDC annual Group conference noting that there is need for all State-Owned Enterprises to observe austerity measures.

She has also directed that State-Owned Enterprises should resolve their tax liabilities with the Zambia Revenue Authority-ZRA- as pointed out by the Auditor General.

Mrs. Mwanakatwe has further directed that there is need for Performance Contracts and benchmarks between IDC and Boards adding that only contracts for CEOs that meet the benchmarks will be renewed.

She has in addition reiterated that all State-Owned Enterprises not making profits should downgrade their travel class.

Mrs. Mwanakatwe said the reforms embarked on by government to reshape State Owned Enterprises will not fail and that boards and Chief Executive Officers who resist change will not be tolerated.

Earlier, IDC Board Member and Chairperson of Investments Committee, Father Leonard Chiti said the IDC has this year invested over 40 million US dollars in various ventures in the country on behalf of government.

Father Chiti noted that the strength of the IDC to make investments is in the ability of companies in the group to pay dividends.

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42 COMMENTS

    • This is very progressive, I said it from the start that Maggie is the one to get the job done! If the other ministers were even half as hard working we would be on the right path.

      We have had enough of senior govt officers be they in ministries, govt institutions or even State owned receiving a lot of money, benefits etc at the expense of poor Zambians. Currently the workforce of senior officers is over bloated at an estimated 3000 or more and they are all entitled to huge salaries, allowances and personal to holder vehicles which they are entitled to buy after only 3 years. Let us put an end to this madness which is costing us billions a year and reduce these apamwambas to 1000 or less with fewer benefits.

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    • @Nostra … I am a citizen of the world. I can live anywhere I choose for a moment so I will be back at home base sometime after next week.

      As for @Sharon … you cranked my ribs ati napena kuno! Ba Sharon is good people; very objective!!!

      Most times us guys have serious blinders it takes women like her to unmask them. Listen to her sometimes, there’s a method to the madness.

      @Gay Gay … last call meet me at 50A Berkeley Street, London W1J 8HA at Novikov Restaurant dinner on me.

      4th time you haven’t shown up

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    • B R Mumba, Sr – You have your dinner no one wants to meet you an agent of Lazy Lungu and Kz…you think everyone is Tayali who you can bribe with Fanta!!!

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    • Samuel Mukupa the chairman of Road Development Agency drives a Land Cruiser V8 on personal-to-holder basis.

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    • All Junior knows is braggadocio who cares if you are going to stuff your face in a Posh Italian/Asian restaurant …I mean the fontini in him always takes the better of him its hard to suppress it. You are there singing praises of your relation Maggie when she, herself has lamentably failed to impose austerity on herself and her outfit…you asking others to tighten their belts yet yourselves want to travel in Private Jets so they can eat Caviar and drink Champagne with their escorts.

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    • Lazy bum tribal illiterate Mapatizya Formula hooligan bully son of the tribal polygamist father who never taught him TOILET training pooping in public HAGAIN needing a diaper. HH will NEVER BE PRESIDENT EVER!

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    • Should it be what Maggie Mwanakatwe says or what the rules and regulations say? What do the rules say? Is Maggie Mwanakatwe being useful to Zambia? What will happen to the expenses incurred by board chairs before her ban? I guess she will just turn up at church and ask God to forgive her. Religion and prayer are a waste of time to ME but some people need them. I have no quarrel with that.

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    • Why does Mr. Samuel Mukupa the chairman of Road Development Agency drive a Land Cruiser V8 on personal-to-holder basis..?

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  1. We are turning the ship around and running this country the best way we know how.

    And Margaret is doing a heck of a job!!! This breed of Africans called Zambians are simply the best.

    Let’s roll … and Gay Gay, I know it’s too cold today in London but let me know when you are ready.

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    • You are a Sideshow Bob …a cadre there is nothing you can offer..just run along to your corrupt friends at State House!!

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    • Ethiopia has reduced Cabinet from 28 to 20. This laudable action should be followed up with more actions.

      I have always been mesmerized when I pass through the parking lot for RDA and NRFA. Most I have always found Land Cruiser V8 vehicles. The Minister should now go down to this level.

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    • Sun – George Weah has removed tution fees as he knows the importance of higher education in Zambia we are butchering them and issuing loans with high interest rates irrespective if the get peanuts on their first job.
      Meanwhile Junior is here clapping!!

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    • Talking about Corrupt HAKAINDE, Gay Jay? I thought you were not a coward! So you just love hiding besides the keyboard? Coward TRIBALIST!

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  2. Has HH visited his former MP in Prison who sacrificed sorry who killed an innocent guard/worker? Have they found the person who sacrificed, sorry who killed HH’s bodyguard yet too?

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  3. In developed countries being a Chairman is not a full-time job anyway …why on earth should they need an office and a vehicle???

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  4. When the kid who owns a modern ball withdraws his ball because his rules are not being followed you obviously turn back to ichimpombwa only that this time around necessity demands having played with a better ball you’ll tend to improve how you wrap it for better bounce. Leadership has been squeezed to start implementing that which should have been for years!

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    • They are being praised for things they themselves introduced,and which no civilised country does.Late Satan actually constituted a one man board at RDA.

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  5. Start from the top, ministers just purchased a fleet of vehicles recently and our very own chief thief just bought a jet, a bit to late when we know the problem started a while back late to react as usual with dander heads, how many parastetals do u have wont make a difference.

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  6. Charity begins at home. Hon Minister, there is no need to issue statements in the press just put on record to the State Owned Parastals that they start restructuring the companies they manage. Some of these Parastals are extremely top heavy, and over emploed with staff that add NO value at all to the company yet they draw huge salaries.
    Obviously we dont need “consultant” to undertake these these restructuring exercise. For instance why have over 400 Human Resources staff in an organisation? Where on earth is this possible? Some of these things aint rocket science, they just need seriousness on the part of the those managing them.

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  7. This is a good move but these measures should also be extended to ministers, PS, heads and deputy heads of prisons, police, army, zns etc etc. In fact the only people to travel first class or business class should be the president and vice president. Even those accompanying them such as ADC, security, personal assistants/secretaries etc on the same flight should be in economy.

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    • @razor Very well said. As Zambians its good to see we are awakening to this fact. It is so sad that we have an opposition that has lamentably failed in its task of putting all wings of the govt to task in the area of accountability. Why is this the case could it be the same main opposition led by one dictator Human Hyena (HH) is so selfish that it would rather not raise these issues and only stick to politics of insults or because its MPs such as Cornelius Mweetwa and Gary Nkombola are amongst the most corrupt MPs in parliament, always giving themselves increments in allowances and better perks-these UPND opposition MPs have failed their constituents lamentably and only get reelected by brainwashed followers who fail to reason like normal people.

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  8. #4 Jay Gay, so you agree with Maggie? Forgotten your trib.al assignment? We will still keep our eyes open anyway, we can’t afford not to, you and your trib.al cohorts are up to no good….certainly.

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  9. Performance targets are great. Paying our share of taxes is great. You cannot shut down private companies for not paying taxes while letting your friends (managers in parastatals) go scott free. When this is implemented it will create a baseline for Zambia to develop like other countries. I know because I have managed organisations in America, Brazil, Europe and Japan.

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  10. For sometime now I have been wondering where the once vocal Leonard Chiti ex is.
    He was upgraded to IDC board member.
    I guess this is what they mean when they say everyone has a price!

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  11. Start from the top Maggie!
    We have been hearing the austerity talk for a while now even from Eagle 1 himself but no action to that effect! You can not expect your juniors to tighten their belts while you and your fellow cabinet members are spending like its Christmas everyday!! Let Eagle one lead the way in implementing austerity measures and the rest will follow. You are having a hard time to even control teachers because none of you is setting any upright example for the rest to follow. Please start walking the talk from the top! Even in your own house Maggie, you can not tell your children to tighten their belts while they see you in new suits and heels everyday!!!

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  12. MADAM,WHEN ARE U PAYING BACK CEEC? CZ IT IS A MEASURE ALSO CZ PEOPLE HAVE VIABLE PROJECTS TO DO AN YOU KEEP ON KEEPING THE CASH. HOW WILL THE ECONOMY GROW? DON’T MAKE A FOOL OF THE PEOPLE. AND WHAT ARE U DOING ABOUT IT THE LUSAKA CENTRAL U LOST BUT WHY BEING AT THE HELM?U RE A FAILED ONE MADAM.ALL OF U SURRENDER GOVT VEHICLES EVEN ECL THE PLANE AND THE SALARY INCREASE.AND U NEED TO DEMONSTRATE FIRST.TALK IS CHEAP.I LIKE YOUR NICE EYES AND LIPS.

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  13. @Abena libala South. Leonard Chiti is no longer vocal because he is not the Director of JCTR anymore. I could be wrong but I recall that he became IDC Board member when he was still at JCTR and did not stop being vocal. Criticizing someone does not mean you cannot work with them. Last time I checked, both JCTR and several other CSOs work very closely with parley (MPs and committees) and line ministries (sector advisory committees) as well as District development coordinating committees. Another Example is Reuben Lifuka who was (and still is!) critical of some policies/laws but was appointed and served on constitutional review commission. Nothing wrong with that.

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