Home Headlines MMD offers free Advise on Debt Clearance, Paying $5 Million does not...

MMD offers free Advise on Debt Clearance, Paying $5 Million does not make sense

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New Hope MMD Spokesperson Dr. Cephas Mukuka
New Hope MMD Spokesperson Dr. Cephas Mukuka

The Opposition New Hope Movement for Multi-party Democracy (MMD) has said that they are willing to advise the Patriotic Front (PF) on how to dismantle Zambia’s debt for free.

The PF led Government through the Ministry of Finance today issued out a notice of intension for the award of the tender for the consulting services to provide advisory services in relation to the liability management of its debt portfolio to Lazard Freres for a proposed sum of $5,000,000.00.

New Hope MMD Spokesperson Dr. Cephas Mukuka in a statement circulated to the media said that the MMD was ready to provide advisory services to the PF led Government for free as they had a track record of debt clearance.

Dr. Mukuka said that it does not make logical sense for someone who is in debt to pay for advice on how to clear the debt they have.

“We as the New Hope MMD are shocked with the intentions by our colleagues the PF to hire an advisor to the sum of $5,000,000.00 to advise them on how to clear the National Debt. It doesn’t make logical sense for one who is in serious debt to go and hire an advisor from whom they will pay through the nose. Furthermore, the sum of $5,000,000.00 is a very huge sum, which can be used for other developmental issues like investing in ZCCM-IH to mine Gold”, Dr. Mukuka said.

Dr. Mukuka further said that the MMD had the experience and Man power on how to clear debt and financial discipline.

“When we formed Govt in 1991, We found a National Debt of over $7 billion. Not only did we dismantle this debt, by the time we left Government in 2011, we left a heathy reserve in the treasury. As We handed power to the PF, We cautioned them to be financially steadfast with the treasury as we handed over a debt free country. Not only did our friends wipe clean the treasury, the went on an ambitious project of borrowing, which has today led us to having over $11 billion National debt in just 9 years”, Dr. Mukaka said.

Lastly, but not the least Dr. Mukuka then said that the MMD was willing to offer its services to the PF led Government for free.

“We as the New Hope MMD are on record of offering our services as a party to our colleagues the PF. We are currently helping them with the Covid-19 epidemic. We see no need of them spending over $5,000,000.00 tax payer money to get advise when we as the New Hope MMD are here to give them free advice on how to dismantle the national debt. Like We earlier said that We have been in the debt shoes before and we managed to dismantle the debt without hiring advisors. So as a Party, We will soon write to the Finance Minister over our free advisory offer”, Dr. Mukuka said.

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24 COMMENTS

  1. BUT WHAT IS GOING ON.
    UNIVERSITY LECTURERS, ECONOMIC EXPERTS WE HAVE IN THIS COUNTRY.
    FORMER FINANCE MINISTERS, etc…
    In my opinion, such reckless decision must be investigated and punished.
    Imagine some retirees up to now not paid.
    PRIORITY, PRIORITY, PRIORITY….
    YOU MAY EVEN WONDER WHERE THE APPETITE IS COMING (FROM)?

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  2. THIS IS JUST A P.F “KICKBACK SCHEME” AS THESE BULUZI’S NOW NEED CAMPAIGN FUNDS.
    Surely why Not approach Magande a tried & tested Economic manager, who unlike Corrupt Bwalya Chikwanda left Zambia’s coffers in a VERY VERY HEALTHY STATE.
    P.F even with all the Gold they are illegally mining will leave Zambia destitute, high & dry.
    Just look at the ones running the show, [email protected]!zar, Ch!mpy0ngo, Ch!totela,Smiler Sikazwe, [email protected], Davis Mwila, J0yce N0nde, [email protected] Banda,.G0dfr!dah.
    Even when they have a proactive person in their ranks like M!Les Sampa, they quickly step on them & sterilise their good work, ensuring mediocrity is the order of the day.
    Honestly does anyone in their right frame of mind believe the above mentioned Goons will rescue Zambia from its current Doldrums &…

  3. Wht does this guy from MMD know? The lenders imposed the idea of a debt advisor on the PF govt because they (lenders) don’t trust the govt in Lusaka. The debt advisor will get all the loan documentation and then go through the figures to establish the true debt position. Then discussion can start. It’s not going to be pleasant. The debt advisor has to carry trust of both sides.

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  4. Now we’re talking. Let’s put aside politics and put our heads together instead to find solutions to our problems.

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  5. That tender for Debt advisory stinks corruption and I’ve never seen such leaders eho are do clueless like this PF government officials.

    We have technocrats in this republic and who are capable of better managing international debt advisory services at a lesser cost.

    We know these crooks they want kick backs from this French company.

    PF must go.

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  6. PF thieves your time is slowly catching up on your misdeeds.

    Fredson Yamba, hands off on this matter please. We had enough of your treachery behaviors.

    PF must go!

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  7. If you are still supporting PF my friend , my free advise is go back home and check yourself again in the mirror.

  8. EMPLOYMENT ADVERT.
    An opportunity has arisen at Lazard Freres for a highly motivated Zambian to join the company as General Manager, National Debt management and Restructuring. The successful applicant will lead a team of French experts in advising the Zambian government on debt management and restructuring. He must have a degree in Economics from the UNZA, 20 years experience and previous work in the MMD finance ministry will be an added advantage. There must be no attachment to PF government.

  9. The best advice for PF gov’t is; stop corruption, spend less, pay your debts and work towards being debt-free – don’t depend on donors; It is more blessed to give than to receive. we don’t need a consultant to help us in this regard; how do you get out of debts? Just pay your debts…
    God bless Zambia!

  10. The only solution is to kick these thieves out of office in 2021 and if they try to rig again Zambians should go the way of Malawi even our army is to blame for this they were the ones busy transporting fake ballot papers in 2016 for PF they were part of the rigging machine for PF hope 2021 they will defend Zambia.
    I remember in 2016 how ZAF refused HH permission to use a helicopter to campaign hope this will not repeat it self again in 2021 Zambian army stand for the country and not for PF if this country collapse the Zambian army will be to blame.

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  11. MEANWHILE Lazy Lungu is in NW campaigning as far as he is concerned its $5 million well-spent…when you have no vision anything goes!!

  12. If they do not come up with such stupid and useless schemes, how will they steal public funds? You Zambians have the key to stopping this nonsense.

  13. Like a witch doctor enticing people to give him money to multiply it so that they become rich, yet the witch himself hardly eats 3 meals a day.
    MMD left BOZ reserves in negative balances, today can offer advice to clear debts they accumulated for Zambians.

  14. The New Hopeless MMD does not seem to understand how things work. First, we all know that the PF has messed up the economy – we are all on the same page on this. But to say that the MMD are experts at debt dismantling/management is not true. The national debt under MMD was dismantled through the HIPC qualification spearheaded by the late Archbishop Cardinal Mazombwe. The Mwanawasa/RB Govts managed this status very well until PF and destroyed this base. Under the current situation, you have no choice but to engage an outside professional debt management group that your creditors will listen to. Dr. Mukuka does not understand and thinks that this is an easy thing to manage. You messed up and no one will listen to you, They may even be the ones dictating that you use a third party.

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  15. Please, MMD dismantled Zambia’s productive base which KK and UNIP built and handed it to foreigners who are exploiting our children and externalising our wealth. They left us a battered health system, potholes on roads, colonial pontoons on major borders and loadshedding.

  16. When borrowing they don’t need expert advice as they know it all , now that they’re still free falling in the bottomless pit even a grade 5 knows they clamouring for help. Let them start relinquishing their assets starting with that mansion in eswatini, 48? , I’ll gotten farms ,luxury vehicles which by the way can be donated to the health ministry that lack a vehicles to ferry covid19 samples . Man up n admit your mis management bane.

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  17. JUST 1 QUESTION FOR THE GOOD DR MUKUKA, WHY DIDN’T THE MMD PARTICIPATE IN THE TENDER THAT WAS FLOATED IN WHICH IT WOULD HAVE OFFERED FREE ADVICE?

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  18. I said it this Zambian army is not defending Zambia even in gold scandal there now involved 2021 they should clean and redeem them selves by not helping PF rig again like what they did in 2016 new evidence emerge that soldiers were part of the looting and stealing of gold in mwinilunga.

  19. Dununa reverse for sure scandal after scandal scandal after scandal scandal after scandal scandal after scandal scandal after scandal.

  20. The lèvel of ignorance by the so called educated Zambians is shoçking. Most people who have commented on this issue do not understand the qualifications experience needed for debt management. MMD itself hired financial advisors to get the Euro Bond. Which only came out when OF came into power and squander it.
    Zàmbian politicians seem to be taken by the bottom line of US$5m.

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