Bwalya Ngandu
Bwalya Ngandu

Government will not continue to pump money in state-owned enterprises that do not provide value to the public.

Finance Minister Bwalya Ng’andu says state-owned enterprises that fail to perform will face sanctions depending on the failure.

Dr. Ng’andu said that Government investments in state-owned enterprises are aimed at getting a reasonable return to allow the country raise finances to meet other developmental objectives.

He noted that it is necessary that state-owned enterprises update their business plans which should be launched with the support of the Ministry of Finance.

The Finance Minister said this when he officiated at the launch of the Zambia National Building Society 2019 to 2023 Corporate Strategic Plan in Lusaka today.

And Zambia National Building Society declared a K1.5 million dividend to Government.

Dr. Ng’andu said the Government’s recapitalization of the Zambia National Building Society has resulted in the Society sustaining itself and enabled it to declare dividends three times in a roll.

And Zambia National Building Society Board Chairperson David Nama said Zambia National Building Society scored several successes in the previous strategic plan which includes signing of an MOU with the Public Service Management Division for special concessionary loans for public service employees to access affordable credit.

Dr. Nama said that the new strategic plan will be used as an instrument for guidance and direction in meeting customer expectations.

Meanwhile, Zambia National Building Society Managing Director Joseph Chikolwa explained that the new plan is aimed at ensuring the organization is sustainable and continues to declare dividends to the shareholder.
[ZNBC]

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22 COMMENTS

    • Here we go with another cadre, threats after threats. Just work chiikala.
      We miss president Mutati, he was just working.

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    • Here we go with another cadre, threats after threats. So you want close ZamPost? Just work chiikala, so annoying.

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    • Ngandu – We like what our technocrat colleague Mr. Bwalya Ng’andu is trying to achieve but sadly he is fighting a futile battle…it reminds me as kid when me and my buddies attempted to play wasp terminators and sort out the big wasps hive in the corner inside the garage. Ngandu is sadly a nobody just there as a fall guy when **** hits the fan such utterances should be coming out from Lazy himself…for your information these state firms have members of PF MCC as board members who are merely there to eat, they all drive Jeeps and Ford Rangers…surely how can a State firm preform with such waste ad empty tins. These board members are close to Lazy Lungu as well, they jog with him every Saturday.

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  1. Zampost under the infamous Mcpherson chanda was always paying GRZ dividends even when the company was insolvent. Workers were not paid salaries, subsidiaries like Post bus were limping, he was putting he’s fingers in the social cash transfer funds and yet he was hoodwinking the government that all was well. The latest development being the insolvency of the Zampost microfinance which has had its licence revoked by Bank of Zambia. SO bwana minister be careful with these SOE you may be receiving dividends when the firms are bleeding.

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    • YOU ARE VERY RIGHT ZAMPOST NOT PERFOMING WELL,WORKERS HAVE NOW GONE 9 MONTHS WITHOUT SALARIES.

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  2. ACCESS AND AUDIT ALL STATE OWNED ENTERPRISES IF YOU MEAN WELL FOR THE PEOPLE OF ZAMBIA. DON’T JUDGE THEM BY DIVIDENDS BECAUSE THEN YOU WON’T KNOW IF RUN EFFECTIVELY JUST HOW MUCH DIVIDENDS CAN BE DECLARED TO GOVERNMENT. BECAUSE AS IT STANDS THERE IS NO STATE ENTERPRISE THAT WE CAN LOOK TO AND SAY THIS ENTERPRISE IS OPERATING AT MAXIMUM POTENTIAL OR EVEN EFFECTIVELY. IT’S NOT WORDS THAT WE NEED BUT ACTIONS. ZAMTEL, ZESCO, ZANACO TO MENTION BUT A FEW.

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  3. Threats after threats and we achieve nothing. This is not good for the country. I thought these guys are supposed to guide these firms on how to be viable away from the press. Who likes the press rhetorics anyway. We have seen them come and go and still kwacha is on its knees making it difficult to payback loans that are quoted in dollars. Borrow a dollar today at a rate of K13 come next year the kwacha would have been devalued to a tune of K26 per dollar. You definitely pay double. He sounds like a cadre we hear cadres will take over from technocrats. Wapya muzi!
    Disaster!!!

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  4. Namibian Govt to Close Air Namibia

    Namibian government officials, including public enterprise minister Leon Jooste, have traveled to the United Stated to negotiate Air Namibia’s exit from aircraft lease agreement.
    The closure of the national airline could cost the government around N$2,5 billion.

    Jooste, along with officials from the transport ministry and the attorney general’s office, will meet the US company tomorrow.
    Two months ago, Finance Minister Calle Schettwein submitted a memorandum to the Cabinet committee suggesting the closure of the airline.
    The memorandum included the negotiation of exit lease agreements and transfer of the airline to public enterprises ministry.
    In the document are detailed outlines on why the airline should be shut down.

    The document shows…

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  5. Minister it is good you have issued that warning but please do some homework. Invite all Board Chair for a one on one meeting on the parastatals in issue. Then meet with IDC let them give you a vision of their vision. Then meet all ceos pick their brains…..you see some of those chair and their ceo are spent forces…you have been at the helm of an institution yourself so hoodwinking you will be near impossible. Second then go over the list, dbz,nac,zamtel,zisc,zampost,natsav,zesco,pension fund,napsa,zccm-ih look closely dig in your data base come up with solid managers speak to the boards and bring people of substance to the table….it can be done Levi did it

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  6. State Owned Enterprises are the biggest parasites on our treasury because of ticks called Poli-ticks! No wonder someone lamented that the “Resource Envelope ” is depleted!
    I miss FTJ who understood best the incompetence of the state to run successful business enterprises. Government should have no business in business!
    It’s sad that LPM destroyed the Great legacy of FTJ. There was no corruption during FTJ if you compare what we have now!

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  7. He seems like someone equal to the task, lets give him a benefit of doubt. My call to PF govt is for you guys not to interfere with his work. He is a technocrat and not a cadre, hence keep your cadre mentality away from his work.

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  8. Most of our Parastatals are viable businesses, the challenge is excess manpower which in most cases draws free salaries. Hon. minister, clean up and leave only necessary labour. That way, you will see these institutions performing. The same goes for most govt ministries, people without qualifications are packed in these ministries doing nothing with only a fraction of qualified staff overworking to meet targets

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  9. Let’s start with non performing Edgar Lungu ,maybe these state firms learned from him,He has taken Zambia’s economy to the dumping site.

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  10. Why blame these hapless politicians when we allow a grade 7 vote”s vote to be at pair with a grade 12″s let alone a graduate’s vote? The solution is grade 7 and below (1 ) vote. Grade 12, (2 ) votes and a degree and above (4) votes. That way no kaponya will determine our political destiny.

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    • Asoza you speak nonsense…go to Zimbabwe where a guy who dropped out of school at 14year old has made an electric car that does not need any recharging system already known by your physics….he has done what professors are failing to explain….so your thought is highly flawed and naive. The guy has made an helicopter that professors in Zambia have failed to do

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  11. Yes. Most parastatals or statutory bodies s out puts are not sustainable due to a number of reasons.i think from observation the major weakness is this trend of appointments on political grounds. Most so called managers have not undergone appropriate and adequate trainings to run large cooperate bodies for them to understand procedures in production :”planning strategy formulation implementation, monitoring reviews and evaluation techniques.
    Most government funded institutions are managed by incompetent officers and the same are recruiting ill/trained technical staffs without following proper recruitnent procedures:interviews,scrutiny of academic and professional certificates, experience .selection now is biased on relationships :bamulamu Ba yama nieces,tribal grounds etc
    Do…

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  12. Listening to zambians discussing issues one can easily notice just how immature and ignorant they are. Zambians are like kids at kindergarten always making empty noises.everything is politicized. People see things through political lenses. When are we ever gonna have a normal life.

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  13. It’s rather strange that often the same SOEs that blame government of frustrating their work plans should be ones to declare dividends.Customers of these institutions are equally frustrated in their savings by government’s failure to honour its obligations

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