President Edgar Lungu has reiterated to the international community that none of the state-owned enterprises has been sold to any foreign entity.
President Lungu who has described as falsehoods the purported sale of ZAFFICO, ZESCO and ZNBC has urged the international community to ignore such rumours.
He urged the international community to seek credible and verifiable government information.
The head of state saID government intends to list state owned enterprises on the stock market to make them viable and transparent, a move supported by the World Bank and the International Monetary Fund.
President Lungu was speaking in Livingstone when he officially opened the World Bank’s International Development Association -IDA- High Level Mid Term Review Meeting.
The Head of State who is accompanied by his Press Aid Amos Chanda was received by Minister of Finance Margaret Mwanakatwe and some World Bank officials among other government and party officials.
IDA is part of the World Bank Group which was created in 1960 to complement the International Bank for reconstruction with a mandate to provide grants and concessional loans to countries on non-commercial basis.
Through provision of affordable development finance, IDA helps countries to increase their pace of economic growth, reduce inequalities and improve people’s living standards.
IDA is the largest single provider of funds to economic and human development projects in the world’s economically challenged nations.
The financial power house’s assistance in Zambia is about 1.2 Billion United States Dollars comprising 21 projects in essential areas of energy, agriculture, water and sanitation, health, education and environment.
Like all of you, I believe him
I hold a PhD
Thanks
BB2014,2016
HH is really giving PF sleepless nights.
Bane, never rig elections again. You will never have piece of the mind. Next time he will seek votes from the international community. Lo lo.
Uzakamba bwino kusogolo. For now be happy. Your day is coming
The irony is that the one who is busy hallucinating about selling of Zaffico is the very crook who facilitated the selling of most GRZ companies and mines for a song!! He got paid and instantly became filthy rich together with ka Chiluba. He was liquidator of lima bank but ended up buying lima bank properties including his kabulonga house. The same happened to a hotel in livingstone where he ended up a shareholder!! Today he wants to look smart over Zaffico!! Atase
This lazy foool and Dora will state in the future that when said not sold we meant not sold 100% of the company as we still have minority shareholding. These thieves need to go!!
It is very important that Ba Edgar stick to reversing all the sales, because some Zambians don’t forget. But so much money has been lost in broken contracts on these cancelled sales.
Nostradamus – Really laughable ..some Zambians forget you say ..well those that vote forget and easily duped with Chibuku and textile clothing!!
All their media team says to these foooools is that just say we have not sold and end there. The matter will die a natural death like the NRDC issue where they have even found an excuse to close it down!!
HaHallucinations Hatribes Hates HaTribalism HaLosers! Chill this is in control! The President is in control. He is more intelligent that any CHILD you know. Let’s develop this! He is UNELECTABLE.
Lazy bum illiterate fuul tribal hooligan bully son of a tribal polygamist father who never taught him toilet training pooping in public HAGAIN. It is HAKAINDE HICHILEMA and MUTINTA HICHILEMA’s time to change the diapers of the little boy Ha GAY JAY. They boy little boy is fixated in his tribalism and letting go in his dress needing someone to change him HAGAIN. The good news is that UNDER FIVE is UNELECTABLE and he is a PRIVATISATION THIEF.
Floating of Zaffico is a gimmick for Chinese to buy it off.
– “Partnership” btwn startimes & DeadNBC has given responsibility to Chinese to collect TV license fees & send money to China until $250 million debt is paid off (nxt 200 years)
– “State capture” of RATSA has seen all fees for car license disks, drivers licenses, speed fines being collected by Lebanese & Austrians & remitted outside the country until debt for upgrades is paid off.
– All money for toll gates is going to Chinese to pay for road debts
– Next new passports will be “upgraded” & contract given to foreigners for nxt 100 years.
Open your eyes Zambians. Learn from the sale of Zamtel. Its easy to sell but getting it back has bn costly.
Somebody should advise the President that listings a govt company on the Stock Exchange is selling its shares to buyers. The Buyers are Public and can include Foreign Investors like the Chinese Company. In the case of ZAFFICO the Chinese Company has shown tremendous interest in the Mukula Tree and in preparation of buying shares in ZAFFICO the Chinese Company has already purchased ZAFFICO Houses. It will be surprising if the Chinese Company has not underwritten the Listing of ZAFFICO Shares on LUSE. Listing a govt owned Company on the Stock Exchange is some form of Privatization of a govt asset. It will be useful for IDC to publish in the Press a Prospectus and Information Memorandum detailing the Listing of ZAFFICO Shares on the Lusaka Stock Exchange.
HH has really giving you sleepless nights ba PF
What sleepless nights? You must be a low life individual to rejoice time wasting on falsehoods. Your leader has nothing to convince Zambians on what he will do if voted into power and so has resorted to telling lies, and his sycophants like you are rejoicing. This statement by the President actually makes HH’s case even more serious now.
The flipside of the coin is that the Prsident was confirming to the international community HH lied when when he shouted on mountain top that ZAFFICO has been sold to the Chinese company.
And an opposition leader who thrives on falsehood is not worthy to grace the highest office in the land. There’s still time to redeem himself from negative perception!
Like a mosquito. You are very right.
Which sleepless night you foo1, the head of state is stating a fact which your Haluza Hambili never got facts about, anyway keep on dreaming we shall see you in 2036 God willing………ECL for 2021 kkkkkkkk, wapya baisa.
I have a certificate of facts about the whole issue…..nayaaa ine mukutusha, eish its too hot to debate with people who hallucinate ……..
It’s not HH giving PF sleepless nights. It’s the reality of knowing that things ain’t fine in the Country and people are frustrated.
HH is just a self-seeking politician who himself can’t be trusted with the affairs of this Country coz he has alot unexplained over the sale of state properties during privatization.
Just coz PF has underperformed doesn’t make HH any better than PF. If anything, HH is a terribly wrong and smart thief who we shouldn’t try to make president.
I know in 2021, Government is changing but if UPND has to be in power, not with HH as its leader. A different Person you currently know nothing of is making Government in 2021.
Take it or leave it.
The President is really giving the CHILD sleepless nights!
Now that we have evidence(the Bicons and explosives) in ZAFICO land what is Lungu and PF Goons saying.More documents are in our hands.We are far ahead of them.May Zambians with eyes watch this game.Lungu will dance to music soon.
If credible and verifiable government information is what Dora Siliya is saying then the international community will laugh at you. Because, even Dora’s “husband,” Mr. Mulyokela does not agree with her.
A Mr. Habazoka explained what a sale is in economic terms. Its strange that the President is in denial after the economists explanation.
ZAFFICO is not listed on LUSE, but HH said it has been “SOLD”. If there is an intention to sell something and somebody says it has been sold, is he telling the truth?
Please learn to read…speculation examples and suppositions are not fact
Why is Mr Lungu anti Zambia, is he so blind to see beyond his bank accounts? As young as Zambia is, we have all seen the trajectory of presidents who lie, Lesa ni malyotola. It’s a matter of time
You mean HH the liar teh!?
My HaPoint! Crazy! The President anti Zambia? What stuff do you eat or smoke in Namwala? Did you mean to say HH being Anti Zambia because he is on Hallucinogenic stuff just as his TRIBAL GROUPING is? No wonder it is unelectable. You guys are really crazy the way you think!
The president should also give detailed state of the nation address and articulate with clarity on all allegations and rumors surrounding various issues in the country. Clear massage also is imperative and very vital on various corruption issues, the national debt, how the money from all those sighted in auditor general reports will be recover, of course he should touch on harmony and unity in the country. We need to hear his voice time and again on the state of the nation.
My brother the way i’m seeing things in this country today makes me cry.One,we as citizens we do not have the freedom and peace which we are supposed to have because of the political situation and the governance of today.Why do I say so is coz if I disagree in opinion with what those we voted for are doing I will be taken for a member of the opposition, some of us we trusted and voted for these who are leading us.Two,the legacy of M.C.Sata has been thrown into the bin,where is the pro-poor policy Mr.Sata initiated, where is the less taxes and the more money in the pockets gone to?All that has been rubbished.My heart bleeds.For your own information this morning I was at Kitwe magistrate Courts hear a case of one of my relatives, My brother In-Law who happened to have be wrongfully…
You are asking too much of this coward…he will address the nation at the next by election campaign!!
The little boy is pooping in his pants HAGAIN. Mutinta needs to change his diapers HAGAIN. The party of TRIBALISM will NEVER come to power in Zambia! “ONLY A TONGA CAN BE A PRESIDENT FOR UPND,” Larry Mweetwa.
“If HAKAINDE MENTAL were a president of Zambia, Zambia would become like the UNITED STATES overnight,” Ba MENTAL party of INCOMPOS! “And if HAKAINDE CHILDISH were to become coach of the NATION TEAM, Zambia would win at least three consecutive FIFA WORLD CUPS,” RETARDS.
HH is tonga. He took his mone from privatisation to Panama
GBM is bemba he took the money he from corruption to south Africa
What remains now is setting the bush on fire. Bembas and Tongas hacking each other with pangas
These two dont love you . They love their money. They are just brainwashing you and they will use bush tracks out of Zambia and take flights while you are killing each other
I always hear warnings ati .YOU WILL SEE. 2021 is near. What are they planning. Near for what.
Am a non partisan political consultant
@political open your eyes we shall not eat tribe,after all we are now mixed Zambians.If ZAFICO was sold as evidence suggests then let all stand up and tell Lungu to bring back our resource full stop.We can not eat Lungu because he is Nyanja or what ever.Zambia is for Zambians and China is for Chinese full stop.We shall demand for truth and Lungu has the truth.He is guilty and he knows.
This is what is expected of leaders in times of uncertainity and lurking insurgency: a clear statement on the state of affairs alongside action to back it up.
A press conference now and then is also desirable to set things straight and to respond to various questions from journalists. In a democracy, people will know that their interests are taken serious when they are given an opportunity to be heard. The disturbances on the Copperbelt would probably have been subverted if the people had been better informed.
but
We are safe in His Excellency’s govenment.
But, I suppose foreign entities will then be able to buy and sell shares/equity on one (or more) of the stock exchange(s). Are we to see our economy go up and down with external forces?
@Abilima what do you mean let hh tell you what he’ll do for zambia? You must have surely forgotten that ECL said he has no vision and you voted for him.shame
Your inability to analyze issues in their right context is your undoing Impi Soza. A few days after the President assumed Office, a not so intelligent journalist asked him about a “vision” and he answered he was going to proceed with the vision of his predecessor. So, according to you the President should have talked about “another vision” a few days after burying his boss – from the same Party?
President Lungu should start holding press conferences at least every 6 months so that some queries are cleared by himself like what Mwanawasa and Chiluba used to do. It does not augur well for some of his Ministers to promise to resign if such and such a development is confirmed or proved
HE HAS NO TIME FOR US CHEAP ZAMBIANS.
U can privatise a govt owned Company by listings its shares on LUSE. If u list Zaffico on LUSE then u are selling its shares to new buyers on that Stock Exchange. Since the Chinese Company is harvesting and exporting Mukula Tree its attractive for it to buy ZAFFICO Shares. After all the Chinese Company has already purchased ZAFFICO Houses. It follows therefore that the Chinese Company will buy the majority of ZAFFICO shareholding. As required by LUSE the same Chinese Company will underwrite the Listing. If this happens then ZAFFICO will be majority owned by the Chinese Company. That’s how Stock Exchange Transactions work.
Do you know what UNDERWRITING means?
Dear GOD.
What have we done to deserve this…
If LISTING A COMPANY ON STOCK MARKET is not selling, then am tearing my Masters….!
Kikikikikiki………..you made my day.The whole truth one day will come out
“INTENTION to list ZAFFICO on stock market” is NOT the same as “ZAFFICO has been sold to Chinese”. Go ahead and tear your Masters, it’s worhless
Has HH listed Panama on the stock market? That is good news to the TRIBALISM leader of INCOMPOS.
Fair start Mr President. We need a detailed address of the matter. I think we deserve updates instead of rumours from the position chap. You UPND people talk about a day in the future when your best attempts are in the past. A different approach to politics would have earned you a good opportunity to convince the few of us who dont believe in you that you can rule. So far you doing a horrible job. Rest in pieces UPND
Listing a company on the Stock Exchange improves corporate governance and accountability which has been lacking in these parastatals for years.Most of these parastatals despite being public institutions are hardly accessed by the Zambian public who are the ‘shareholders’ for scrutiny which is a source of bad corporate governance.And you wonder why ZAFFICO has not made a profit for years?Corporatization of State Owned Enterprises(SOEs) has not done enough to encourage corporate governance thus listing them on stock exchange will certainly do as the Board of Directors and Management will be free from political interference.
You are wasting your energy. Some of upendi cadres understand these things
But they chose to behave like their leader who fails to answer a simple question
Where do you get your facts that zaffico has been sold
Answer: I did not incite anybody
According to them its a smart answer.
Thats how they all behave
@its political go and check those Chinese Bicons on ZAFICO land.Simple.You are the people even after you have caught your wife under a man ati awe siwa mene.No she is not the one.You have been caught pants down you thieves just accept.
He think he will win and it worries him they will be nothing for him to sell
2008 he was very sure. 2011 he was very very sure .2015 he was very very very sure. 2017 he was very very very very sure. 2021 he is very very very very very sure. 2026 he will be very very very very very very sure. 2031 he will be very very very very very very very very sure of wining.
Party of INCOMPOS led by an INCOMPO!
Sorry I should have said a TRIBALISM party led by a TRIBALISM THIEF.
ZNBC is now 60% owned by a Chinese company. Economists and lawyers, kindly educate us. Isn’t that selling? So even when they say they are not selling ZAFFICO, Chinese will probably end up being the major shareholders and they will still say “we haven’t sold ZAFFICO”.
For a period of time until Chinese recover their money. Is that selling. Its PPI
Which Chinese company owns 60% shares in ZNBC? This is the result of belonging to a cult masquerading as a political party. Because the cult leader says so you take it as gospel truth! FYI, it’s actually ZNBC that owns 40% shares in Topstar, a company formed together with a Chinese company called Star Times. ZNBC remains 100% owned by GRZ.
Do you have facts about that? I have a certificate of facts! Stop hallucinating you chap….am sure you are a relative to Hayamba Halema with lies!
Yes the name only ZNBC is GRZ owned as a trade mark but all revenue streams are owned by the Chinese top star for a period of 25 years. Only if there is a profit will grz get 40 % of that.
Top star owns broadcast carriage fees, that is fees private companies pay ZANBC to carry their tv channel
Top star owns all set top box sales
Top star owns all rentals from masts
Top star owns all sales from advertising.
Only if there is a profit from such will ZNBC get 40 % of those profits.
Now tell us what part of ZNBC is owned by Zambia ??
Spaka ®
Most influential blogger
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The main worry should be that by 25 yrs technology change. Something more advanced will supersede digital migration.. u wont even need a dish on top of your house
What are the legal implications if the technology we are paying for currently becomes obsolete
These are kind of argument we want to hear from opposition and Not falsehood.
Znbc has not been sold. PERIOD!
 #16.5 Its politiical..
As Spaka is saying, what is the use of owning only the ZNBC name brand if all money streams are for the Chinese ?
That sounds like being sold in all else but name.
This is laughable. What does listing a company on the stock market means? We do not sale companies like ifitumbuwa iwe. Selling of anything means ownership changes. Listing a company results into change of ownership and that is how companies are sold. Our many worry is how the Chinese company ended up buying all ZAFFICO houses and the next thing we head was that ZAFFICO was being sold (listed). If you want peace please reverse the sale (listing) of ZAFFICO. ZAFFICO is a national forest reserve and we do not need profits from there. It is a necessity and not just about profits. Does our man understand what he talks about or is it deliberate? How can you say ZNBC hasn’t been sold when there clearly is a change in the control of that public institution through shareholding.
I think Rainbow party is making a lot of sense.we are now listening to real issues of an opposition party causing the ruling party to change there mindset.Debate real issues affecting the Zambian people not ranting lies to gain political mileage.wynter Kabimba keep up the heat.
Listing companies that are making money is not the wat to go!!! Am pretty sure something fishy is cooking!!
What exactly does listing a company on luse in tell? It simply means that you want to sell shares on that market so that people or companies with money can buy shares and become shareholders. Now suppose the Chinese buys 80% of the said shares, who then controls the company? A major share holder returns veto rights and decide the direction that the company takes. Zambians have no money to buy shares as the economy is in doldrums and even if they had, this company is not an attractive investment portfolio anyway. In one breath he accepts that they are listing, and in the another breath he denies that they are not selling, What happened to ZCCM, whos is controlling the mines now and who is dancing to who’s tune? Open your eyes Zambians.
Foresters are sleeping. Can you wake up and defend ZAFFICO. It is the only company at least providing employment to forestry students from CBU And Zambia Forestry College. Selling ZAFFICO will kill forestry profession and timber for construction will not be affordable. CBU school of Natural Resources can you be proactive in saying no to this. I expect signal from those ends. foresters wake up. ZAFFICO needs proper management not listing or selling. the company is just lacking proper professionals to enable it breath efficiently. Please Mr president, kindly leave our ZAFFICO in peace, it is well.
Everyone is certain that HAZALUZA HAGAIN because it is UNELECTABLE.
I am sure the thieving debarred lawyer was high on free whiskey, ask him tomorrow after the urine he peed him self on is dry he won’t remember sh!t….. This moron is just a Pompwe as useless as they come…
@Sharon you ape you belong to the 17th century .Go back to the caves were you belong us the united Zambians will make we get what belongs to us with force if necessary.we can not allow this Koswe mumpoto to sale our resources.Tribe abashi ,Zambia is our country.
He is trying to subtly instruct the police to go ahead and arrest HH by claiming there has been no sale. We know there will be a sale of some kind.
For those still pouting that HH sold companies, give over. You are flogging a dead horse. The company he worked for was contracted to do the auditing of the sale and the modalities, AFTER government had already made the decision to privatize.
……says the chief salesman ediga….
Party of INCOMPOS.
does it mean ba upnd you think hh knows everything happening in government such that what ever he say its true ok if so soon hes appearing to ans to the police and we are interested to ear the truth but hes locked up not ubushilu
I stays in copala and in fact ,born here the chinese companies are being constructed every day in the ZAFFICO PLANTATIONS ,how ever this indication shows us that they are in control of the said plantation,our founder father KK knew why this plantation were reserved. The chinese guys are not only there for timber BIG NO,they want to also go dip down and dig our minerals which is copper.cobalt as well as other related minerals ,lets not ague over these issues chinese guys have actually taken over our forest CHAPWA!
Guys let us protect our country.ZAFFICO yean kufwapo.Wake up Zambians.Abena kopala remove those chinese chaps in Zaffico plantation.