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Alba Iulia
Monday, October 18, 2021

State House accuses Africa Confidential and Bloomberg of wanting to stop FDI to Zambia

Headlines State House accuses Africa Confidential and Bloomberg of wanting to stop FDI...

Mr Amos Chanda
Mr Amos Chanda

Special Assistant to the President for Press and Public Relations Amos Chanda says the “extreme preposterous allegations” being peddled by Bloomberg and Africa Confidential are aimed at killing the Zambian economy by stopping Foreign Direct Investment.

And Mr. Chanda has revealed that government has stopped engaging Africa Confidential but that it will respond to what he called lies if they breached a certain limit.

At a media briefing today at State House, Mr. Chanda lamented that the lies being peddled by the two media institutions are denying Zambia’s reputation on the international financial market.

“There is concerted attacks on the currency, on the country’s economy clearly by elements that have been paid to peddle lies about the state of the economy. Once the President acknowledges the general difficulties of the times, he is stressing that government is taking strides to address certain issues but State House finds that it is extremely unfortunate that publications such as Africa Confidential and Bloomberg have dedicated the past week peddling lies about our economy to undermine the country in the eyes of the financial market by insisting on non existent default,” Mr. Chanda said.

“So Zambia is in the financial market, it has borrowed money so if you begin to hint on the default, you are actually trying to incite the markets to be nervous about the Zambian economy and therefore ultimately what you hope to achieve is to strangulate the economy by stopping Foreign Direct Investment. Fortunately, the Minister of Finance and Treasury team are competently dealing with the difficulties that are in the economy,” he said.

“We have brought these issues to the attention of the editors at Bloomberg because we still have confidence that that is a respected outfit, we are no longer engaging with Africa Confidential, suffice to say that when their lies extend beyond a certain level, we will tell the nation, we don’t want a ping pong with a publication whose agenda is well known. But just a caution on Bloomberg that they mustn’t fall prey to the very cheap and malicious media propaganda that is being put there,” Mr. Chanda said.

He insisted that the Zambian government has not defaulted on any loans.

“The government is not in default of any loans whatsoever. It is meeting its foreign service obligations, it is meeting its domestic obligation, of course, it has to be acknowledged that with the attendant difficulties which you may have seen in delayed salaries in some of the months but I can tell you, and civil servants can confirm that steps are being undertaking that is why sometimes, actually in the months of March and April, actually salaries in some cases were paid one week ahead of time so we find the recent publications, one by Bloomberg, making very preposterous, extreme preposterous allegations; drawing a parallel between Zambia and Venezuela, for lack of a better term, that makes Bloomberg unrecognisable to us, this is a respected wire firm that cannot descend into quoting fictitious analysts and putting them across,” he said.

He added, “For Africa Confidential, our views are very known, it’s no longer a publication that it was, it is a formerly respected tabloid that has willingly transformed itself into a scandal sheet and that is very regrettable. What we find extremely puzzling is the agenda we have seen in the past weeks where Bloomberg would pitch a story on fictitious analysts hinting at the default (on loans). The Minister of Finance will continue to update the nation. She is so transparent, the debt servicing mechanism is so transparent, she tells the nation where we are.”

77 COMMENTS

    • Our nation has been Lungunised.

      What is Lungunisation?

      Lungunusation is the process of acquiring material wealth, by means that are unknown and unfathomable.

      That’s why Zambia is struggling

    • “There is concerted attacks on the currency, on the country’s economy clearly by elements that have been paid to peddle lies about the state of the economy. Once the President acknowledges the general difficulties…..”

      So what are you talking about when in one sentence you are contradicting yourself?

      You say the President has acknowledged, but at the same time you argue that the 2 media are publishing lies…that doesn’t add up, Amos. It’s you trying to lie. There is basically no facts that you have provided, but instead, you resort to threats. The two media are not the only ones, IMF also

    • This gremlin is out of his depth. There is nothing that the PF criminals are doing that M15 and CIA do not know about. I pity Edgar for having such clueless advisers. The president, not being an intelligent person should have hired best brains to surround him and not Freedom Sikazwe, Kaiser Zulu and Amos Gremlin Chanda!

    • Usual standard response refute claims and play the victim….how can a newspaper kill the economy if you are unable to defend yourselves with facts. You think everyone is docile….why would Bloomberg want to stop FDI to Zambia if you had any sense you would have sent a sober minded individual to them not drunkeds Maggie and Mvunga!!

    • If this was lies they would have directed NAPSA bosses to come out defend this but they know there is some truth in it and there is no NAPSA executive would refute something and risk future prosecution.

    • And when did you kattole Kobe Chanda became a govt spokesperson, you over stretching you boundaries

    • Such is the life of engaging the financial markets. Bloomberg s business is to analyse company and country debt stock so as to inform the investor on how best to mitigate their risks as they buy the debt.

      If thief Lungu is worried he should find the money and pay the debt interest on time to avoid speculation on the country s debt simples.

      PF should stop stealing and start paying back debt promptly to cushion the Kwacha and minimise economic damage.

      That’s the problem with borrowing for consumption as opposed to borrowing for economic capacity building.

      Economic capacity building involves borrowing to invest in human resource training in order to forster local manufacturing in all sectors of the economy.

    • Easter weekend Siavonga route. Traffic officers paint 40 on the tarmac. Yes on the ground!! No sign post. Written on the f***in tarmac! They then start to harass all drivers missing that (illegal) painting on the road. This was reported to RTSA with pictures and all… but guess what!

      When you can’t keep your mess clean, its best to shut up and let them talk!

    • Whereas they gave you political independence, they have refused to give you economic freedom.
      Now fight, Zambia fight. Count your blessings. Look within yourself Zambia. We understand how the world operates. Abash foreign direct investment, abash loans, abash negative image painting, abash Bloomberg, abash IMF, abash World bank, abash HIPC, abash AC, abash Moody.
      Viva ECL bayete, viva economic diversification, viva 7th National development plan. Viva Zambia.

    • These foooools can not manage to send panga wielding ” punch first ask questions later” PF numskulls all the way to New York’s Bloomberg studios HQ so they play the victim….next they will say its “them against Africans” tune.

  1. Mr Amos Chanda
    These reports are factual based on international investigations.
    Don’t think Zambians are stupid, if you are so clever and the economy is fine then why is PF not paying salaries

    Stop being an Ass*ole

  2. Bloomberg and African confidence and moody’s are useless.
    I recall how they put Zambian economy NAKED during KK Era from 1975 until 1990.
    The crime KK made against them was to denounce and chase the Anglo American who wanted INDECO and FINDECO transcended market stocks exchange to South African companies.KK refuted that economic sabotage even to his death,since then these propaganda news imposters went viral with help of IMF to arm twist economic picture to its worst . The war was won when the Anglo American pledged to fund MMD to oust KK regime. The WINA AND AKAS AND MAZOKA (Southern Africa board chairman)FAMILIES took full time organizing MMD in the background with the help of these foreign media.
    In 1991 we witnessed results of their plans .

    • Yes yes and the branhurst foundation and openhimiers even employed former Nigerian president obasanjo to try to steal Zambia’s wealth in the run up to the 2016 elections , they are all employed by HH

      Now the world bank and imf are also getting instructions from HH to talk down the PF economy……..in fact the whole western world wants to steal our wealth , that’s why they are working with HH

    • General

      This is the same nutcase who told us trump has shut down CNN and CNN was banned in France and Australia

    • Mr. P … let’s roll! Walasa!!! These dull Africans who are themselves inferior products dumped across the globe can’t defend their own nations because they are low quality products.

      In the US we call such kind of blacks Uncle Toms, always fighting their fellow blacks just so they can get favors from their benefactors.

      They would rather kill their own for bread crums from the whiteman’s table. For them they rejoice the loudest when bad news is reported about their country.

      And whenever something good happens, you have the least comments from them even here on LT. What kind of creatures are they??? Unpatriotic basta1ds!!!

      Epo mpelele,

      BRM

    • Great piece Mr. P
      Don’t mind wacky kindergartens spaka naive demeanor.
      You wonder why the u5 can’t form Government.

    • Mr P & BRM – do you two guys have any conscience? You know very well deep down, what you are saying here is nonsense!
      Bloomberg (I don’t know much about AC) is a respected business news service. It has no benefit whatsoever in see any countries economy run-down.
      Their business is to provide accurate business news to investors – this is exactly what they are doing on Zambia, and many other countries.
      Warning investors that Zambia is at a risk of defaulting……. Plain simple and straight forward.

  3. Unfortunately these are credible and respectable international publications.Maybe ECL can send PF cadres from Intercity to raid their premises and beat them up!


  4. Bloomberg in the last 7 years have been caught with pants down about 17 times. To the point of retracting articles and reports due to incorrect reporting.

    They are the giants of Global Business Reporting second to CNBC but have also settled out of court cases due to twisting stories on numerous times.

    As for Africa Confidential they have become a narcissistic news media.

    That said, PF needs to sought out these faculties in government that are becoming alarming •

    Amos Chanda is correct. Zambia has not missed it’s loan payments. Bloomberg and Africa Confidential lied. ©

    • AC did not say Zambia missed to pay back the loans, AC said the government borrowed from NAPSA to pay the loans. AC also went on to say that the government is using the Bank Reserves to pay off debts, which The Central Bank governor already acknowledged 1 or 2 weeks ago.

      You like sweet talk from Amos, and you are following and praising him, without knowing that he used that sentence on purpose to win people like you.
      Please read AC article 20x then come back and comment. Thank you sir.

    • Of course Amos is correct Zambia has not missed any payments ….really laughable…its like being caught red handed by your wife at the lodge with a another woman and you go to defend yourself at your in-laws and say I always pay all the bills and school fees on time in that house!

    • @Independent Observer … could not have said it better but these Uncle Toms are inferior products dumped abroad and don’t expect to reach their neuro respecters with your logic.

      They have low IQs to grasp the gravitas of your facts. They will not even do their own research to find out how many times these outlets have been sued and been found wanting.

      For them Bloomberg and AC are respected orgs even with their dismal track records.

      Pathetic creatures these Uncle Toms are. The worst among the smart people of the Zambian Enterprise, they are.

      Bitter, with low esteem … Heaven help us all

    • And the PF has been truthful from inception? Are you f*cking senile or sufferers of genetically transmitted !mbecility?

  5. This guy is actually revealing things that Africa Confidential has not even touched upon. By the way, at one stage there should have been a court case against Africa Confidential? Remember when some minister was fired later for what Africa Confidential “lied about” … what happened to that court case kaili a cikulile? Tikolindila ivi mumbwelesa vinangu nafuti!

  6. There several factors which have contributed to poor economic decline hence failing to attract FDI
    1.Freedom of press . One the factors which triggered my prediction was the close of Post Newspaper,private radio and TV station.
    2.Judicial system for failing to past genuine judgement . Every judgment should always in favour the ruling party.
    3.Police arrest only when instruction comes State House; meaning domestic security is compromised. The foreign investment fear for their investment.
    4.World class corruption as PF officials have divert loans building houses in South Africa
    5.Economic and Political policy are made to please the PF government instead of Foreign who are suppose to bring hot currency. Any who says that some policies are wrong then insults and also labelled as a UPND…

  7. 5.Economic and Political policy are made to please the PF government instead of Foreign who are suppose to bring hot currency. Any who says that some policies are wrong then insults and also labelled as a UPND supporters.
    6.The kwacha is tumbling,bleeding,limping meaning the Foreign can not long term focus which result in long term investments. But PF government want to praised opening CBU,delivery meal-mealie,paying salaries,
    7.Lawless the embassies are seeing and recording of political,economic,technological,social and security state of affairs

  8. I heard on news that Amos Chanda also touched on inertia by the Police to move and arrest PF thugs harassing opposition politicians at radio stations. And surprisingly a Police commissioner on the Copperbelt says the NDC official who was killed reported to Police that he was assaulted by unknown people, yes these were unknown people to the victim but known to some living witnesess, so move in quickly and arrest, this is a low hanging fruit for the Police, your work has been made lighter as people have come to the fore as informers and witnesses to name some suspects

  9. WHY WON’T JONA CHAKOLWA HAVE A PRESS CONFERENCE??
    Surely he can articulate, & counter Bloomberg, & Africa Confidential, rather than hiding in his expensive Challenger Jet drinking Whiskey all day.
    Maybe ZAMBIANS should petition in parliament for Government to build a Pub on State House grounds. That way we can kill 2 birds with one stone, as Jona CANNOT resist a Pub, & as a result he may hold his FIRST EVER Press conference in the outdoors Pub, update & inform Zambians of his Visionless Corrupt Drunken Mediocrity.

  10. It’s true. Their agenda us to destroy developing countries so that their resources are for the taking at lowest trading prices. These are capitalist agents. The attacks seem coordinated, following on from recent contradictions of our projected growth by IMF and Moody’s.

    If they can’t disturb your development, they will finance and manipulate the political stage to try and bring in their agents into power so they get to control resources. Zambia is host to some of their investors.

    Elections, 2021 around the corner, they hope to manipulate the voting public. The best solution is to be less dependent on the Western region.

    • Hehehehe

      Plezzzz , take responsibility for your crap , it is not the fault of the west thst 50 years after independence you still need western aid to survive….

      Usually failed dictatorial regimes create imaginary imperialists out steal their wealth so as cover their corruption and looting that has destroyed their economy , they crack down on democratic freedoms and use thugs to brutalise differing opinions……..Mugabe and zim in the mid 90s now lungu and Zambia….

    • @Patriot Abroad … and everyone says, Amen!!! However the Spooked Uncle Tom and Gay Gay here have smaller brains.

      They have no capacity to comprehend your logic. They have no logical operators in their brains of their own. They are trained parrots for their benefactors.

      We are lucky that they are less than 50,000 of these inferior products mostly spread around Europe and they can rant all they want but the smart people of the Zambian Enterprise are in the majority.

      5,000,000 registered voters Vs 50,000 exported inferior products, we still win in 2021 and Zambia wins.

      Epo mpelele,

      BRM

    • AC is CA. They owe double h for not delivering in 2016.

      Key:

      CA =====> Cambridge Analytica
      AC =====> Africa Confidential

      Aim, to undermine Governments so puppets can be made to lead.

    • King Kobra – really laughable that type of fallacious argumentative strategy appeals to the lazy and simpletons… this chap JUNIOR is a sideshow Bob or should I say a secondary attraction at the circus.

  11. can the president come on tv, private media inclusive and defend his position. on labour day he said salaries will no longer be delaying but where is he going to get the money. let the press that is writing what he thinks is a lie be put to shame if not there is something wrong with the economy of zambia.

  12. When will the so called President or the misleader give a Press Conference where he will be asked questions from local and international media? WHERE IS HE? Why can’t he come and state what he plans for the country to give confidence to the economy and investors? Why is he hiding? He just shows up kufililo. Is he just a mourner in chief?

  13. Sparka and your fellow minions I repeat to state that CNN in NATO NATO states “COUNTRIES “is banned and in some is restricted . Go to France ,Australia ,Luxembourg and many other “COUNTRIES “I will never access it .Am sure I based my reasons very well. The problem is that UPND stooges always want to find faults on whoever standing against UPND is political ideology .Ayatollah affected you ,you can’t think outside the box on you own.
    Carry a research if you don’t you will know.

    • With the internet can you be so dull to try a lie like that ???

      Just do a google search of CNN in each country you mentioned

      Just Stay in the trarven if you think you can lie like that to people in this day and age of google search

    • Mr P

      You must be an old man who does not know the power of the internet.

      If you are young , you are very thick….

  14. I cannot believe this country has so many blind people who despite the crude agenda of western countries against Africa do not seem to understand the truth. All the west wants are our natural resources and they love destabilising countries rich with natural resources. It’s time we wakeup.

    • If you are dull enough to vote for a fraud convict to be your president , do think people who need your natural resources will not take advantage of you ???

      Off course if you are dull , they will take your resources…..don’t blame the west for your corruption…..

    • @John Mulele This is an old and abandoned song Africans sing when they fail to manage their affairs because of corruption and incompetence.Even at Soweto Market the wise make money and prosper ,the careless fail, misuse even their capital and blame the market.The economy in Zambia is beginning to teach ECL a lesson.

    • @John Mulela … good luck with Spooked Uncle Toms. These were referred to as House Ns back in the day. They were used to carry their Masters’ water.

      They are inferior products and nothing but snitches. Low scumbags … that’s it.

      Don’t expect them to agree with you, they are their own enemies and so what do you expect??

      Don’t worry out of the 220,000 smart people of the Zambian Enterprise abroad, they are only 50,000 of them inferior products.

      We still win and get to run our country as they continue running their mouths.

    • Look at solied BR BAMBA …..

      Zambia can not survive without aid , did you know that ba dirty BR BAMBA ?

  15. Some civil servants don’t seem to understand their job descriptions! They bark anyhow! They are as dull as they look! Instead of leaving the appropriate offices to confirm or refute the allegations raised, you become a self-appointed attack dooog! Clever leaders choose Sharp advisors to compensate for their weaknesses! AC is making ECL look very irrelevant on many issues of national importance! Why then is the Kwacha and the Economy in the Toilet mr AC? Give us your version. FDI won’t come to a place where we are economical with the truth! Uncertainty of policy direction is the worst enemy of FDI! Investors look for stability that favors long-term investment! Just admit you have failed chapwa!

  16. What is sad and more telling is how HH and his supporters are openly seeking funding and favours from organisations that colonised black South Africans. HH’s friends in South Africa are still resisting wealth and land redistribution 25 years after independence. Mwanakatwe and Lungu must not entertain IMF because the organisation has no success of improving living standards for any African country. China has lifted more people out of poverty than the fake statistics of African confidential tabloid.

  17. Spaka and other lapdogs suffer from acute inferiority complex just like HH of the UPND …to them as long as discredited African Confidential write trash about Zambia they enjoy thinking their Supreme leader HH of the UPND who was caught with a leaked paper at UNZA and suspended would be voted by the majority due to the fake news peddled by the useless African Confidential and Bloomberg…How ironic these group think mentality sycophants and zealots and enemies of progress can be

  18. I would like to believe you little tot Amos Chanda, but then you, PF, and State House have a track record of being economical with the truth. But if one day you could admit that the President does make numerous fu.ck ups, then I will be willing to start a new page of believing some of your statements. But take comfort, the culture of lies did not start with you, it was a trade mark of Michael Chilufya Sata and now ingrained in the PF culture.
    Remember the lies that were told by Mr Sata against Rupiah Banda despite a very strong economy and strong foreign reserves at the time? Well, the chickens have come home to roost, enjoy the party!!

    CAUTION: Trib.al Hacks is NO OPTION for Zambia.

  19. Chanda continue monitoring them on behalf of the state. We know who the beneficiaries of the propaganda are. By hook or crook they want to rule this country. Shame.

  20. Counter with economic facts naimwe a State House, no amount of denials will help you. Better still let the minister of finance handle those issues, not you a kaponya party cadre employed to spin facts, and faling miserably. You are so unconvincing iwe ka Amoshi. You ni same same nama trib.als.

  21. Counter with economic facts naimwe a State House, no amount of denials will help you. Better still let the minister of finance handle those issues, not you a kaponya party cadre employed to spin facts, and faling miserably. You are so unconvincing iwe ka Amoshi. Your lies are no different from trib.als.

  22. Even without Africa Confidential /Bloomberg stories i knew that Zambian’s economy has been in the hospital seriously sick.Nothing new here.

  23. Where is Jona Meno Meno/ worst president in the world to give a press conference to reassure FDI or the moron has never given a press conference only best at drinking and peeing himself…. Debarred thieving useless moron

  24. Njimbu on such topics you never hear him comment but bring a story about HH ,you will hear him with his 6.5 theories.

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