Justice Minister Given Lubinda says there is no Bill before the National Assembly or at the Ministry that was drafted by South Africa’s Minister of Finance Tito Mboweni on procedures for appointing Bank of Zambia Governor.
This is contrary to assertions made by Mr. Mboweni on the dismal of Bank of Zambia Governor Denny Kalyalya.
Mr. Lubinda says what is before the ministry is a proposal from the ministry of finance to repeal and replace the bank of Zambia Act cap 360 of the laws of Zambia
He has since challenged Mr. Mboweni to name the law that he claims to have drafted on behalf of Zambia.
He says article 214 of the constitution of Zambia, Cleary states that a Zambian with specialized training shall be appointed as Bank of Zambia Governor.
Mr. Lubinda further says section 10 of the Bank of Zambia Act which is subject to section 15 provides that the President may appoint for a period not exceeding Five years a person with recognized professional qualifications as the Bank of Zambia Governor.
Has has since declared that from the constitution and Bank of Zambia Act number 43 of 1996 the appointment of the Governor is vested in the President who also has the power to remove.
Couldn’t have said it better brother lubinda. The upnd and diasporan upnd supporters suffer from inferiority complex such that they see nothing wrong with being disrespected by a foreigner over their internal issues. When my brother was appointed to the ministry of finance, no one raised issues. Today he is appointed as governor you want to say ny0 ny0. To hell.
“The Kaizar Zulu school of political science” coming soon. REMODELING THE PRIVATE SECTOR AMID THE NOVEL COVID-19. Just letting my haters knows in advance so that they don’t get heart attack when the school is open.
MINISTER WACHIMWENYE , ZAKUKOLA MPHILIPILI?
He does!
I wrongly used to this guy in high esteem until Bill 10. Instead strengthening institutions that provide oversight on the executive. They are busy destroying these institutions. Lesa ni malyotola
It is embarrassing… Even Tito has stronger balls to run Zambia? The Zambian Ministers are running around every time South African ministers say something.
The problem with Zambians especially those from the UPND is inferiority complex. They think everything foreign is good for Zambia. You see UPND cadres celebrating whenever IMF, World Bank, USA, UK make pronouncements on Zambia. With such characters, you start wondering why Zambia fault in the first pace. Their childish tribal leader is the worst culprit when it comes to crying to the International community. If such a leader is put in power, we will be dancing to every music foreigners play.
let’s give him a chance by the way the former is a good man by paper and character but bad on performance. Even a star is substituted and the team progresses
Then strop borrowing money from South Africa through its various african focused investments funds. The problem I have with this Government is that they really think Zambians are uneducated, ignorant, dull, daft and don’t know how global finance works and who they really borrow from directly or indirectly when they issue GRZ securities (Bonds & Treasury Bills). They need to understand that Kenneth Kaunda did stellar job in setting the robust educational platform we have benefited from and so cannot be fooled by any of the PF people. Who in the world of finance doesn’t know that the bulk about 40% of government debt stock of TBills and Bonds in excess of USD 3 billion are held by South African based funds and finance houses? Zambia is small change for the SA power houses. For example…
If Zayello was a disease, it would be in the mouth!
Must you respond to everything?
How to you manage to have seizures each time you are criticized? You must listen again to Tito’s counsel, harsh as it may sound. If you are really Patriotic, you won’t join hands with widow makers to destroy the little left of this country. It’s clear that you PF leaders will never be free to walk the streets when flushed out of power because you have injured too many people. Even South Africa where you like running away to will be too hostile for you. Lubinda, these are Foreign Affairs issues. Leave the appropriate ministry to deal with such issues!
Matter has already been dealt with at head of state level. Given Lubinda’s involvement is superfluous.
When Xenophobia killed our people in RSA you GRZ were mute. Now that it hammers you head on you are all too sovereign.
No wonder SADC is a gentlemans, an old mans club!!
This Zayelo guy must understand that Zambia is trading partner with South Africa, most South African businesses are affected by the bad economical decisions that Edgar Lungu is making.
So they have a right to question this chakolwa’s decisions.
PF must go!
Just ask how many politicians haven’t been to South Africa? Now they’re flocking to Rwanda to learn the Rwandese model. Yaluma is crying about Spar leaving, he sits on Malaysian sofa. Mboweni was consulted and paid, he didn’t say the Bill is in Parley but somewhere in the Ministry because you’ve failed to enact it
We are where we are now because a diploma holder from NRDC has been appointed to a very sensitive Ministry such as Justice . The ministry of finance is fine but Oh my God ! the BOZ is a mess .
OKAY MR. LUBINDA, WHAT DOES THE ZAMBIAN LAW SAY ABOUT THE PROCESS OF APPOINTING OR FIRING A PERSON INTO SUCH A CRITICAL JOB TO THE COUNTRY’S ECONOMY AS THE BOZ GOVERNOR?
Yes indeed that is the problem I have observed with UPND I don’t know why they feel Zambia should be a province of South Africa.
Really that is inferiority complex they are suffering from , you can see it from their leader who always talks bad about his own country , what these characters must know is that Zambia will always be Zambia.
It is the question of relevant competences and qualifications. Even in developed countries like UK, they recognise certain qualities in an individual NOT nationality. The previous Governor of Bank of England was a Canadian, it not a political appointment. Zambianisation is gone with KK. South Africans are also backwards, trying to place every black person in jobs they cannot do. I do not care whether Mvunga drinks senselessly, but is he able to make independent decisions? Or we end up like Bank of zaire under Mobutu. Here goes the story: Mobutu asks the Minister of Finance for $2 million, then Minister goes to Bank of Zaire and tells the Governor that the President wants $3 million. The governor takes out $4 million. The president gets his $2 million but $4 million has left the bank…
This PF sh!t show is very sad to watch.
One of the stupidity of some bloggers think those who are in diaspora are not royal to Zambia. People in diaspora have roots in Zambia, therefore, when they make comments, it is the love for Zambia they love. It is a waste of time to hear sweet words when things are going wrong. Hon. Lubinda does not need to dance to South African Finance Minister.
Tito Mboweni’s utterance was diplomatically improper ,but he told a fundamental truth on BoZ independence.
Isn’t there a draft bill relating to the Bank of Zambia from 2017 of thereabout?
Lubinda, please engage your brain before you open your mouth. SA is Zambia’s biggest trading partner. It’s FDI is more long term and permeates to the lowest paid workers through companies like Shoprite, Stanbic, FNB etc, unlike Chinese who give us loans and send back 99% of the forex + interest through Chinese contractors. These SA financial institutions have invested in Zambian treasury bills and bonds etc. Every govt from 1991 has been crying for FDI (SA’s ANC govt answered the call) and you (PF) want to hurt the people of SA that have invested their peoples’ pension money (Rands) by turning the ZMW into toilet paper for electioneering! Do you understand how business savvy Ramaphosa & Mboweni feel betrayed? As if that is not enough when we (Zambia) become a basket case our…
Once we become a basket case, our nationals will flood SA the same way failed states like Zimbabwe, Somalia, Mozambique etc have flooded and burdened SA. And you expect Mboweni and Ramaphosa to be happy and pat you on the back? My foot! Please read a book on economics.
This is the issue I have with the current government. There is no protocol whatsoever…anyone just wakes up and comments on issues that are way out of their jurisdiction. Bo Lubinda…this is a foreign affairs issue.. I think keeping mute is better. Do not try and make it your issue by trying to confuse us with your words. The issue at hand may have legal connotations but it is not in your jurisdiction.
With all due respect to Lubinda, Tito Mboweni never claimed to make laws for Zambia. He simply expressed an opinion over the sacking of the Governor of BOZ. Tito Mboweni as a former Governor of South African Reserve Bank knows Dr Kenny Kalyalya personally and he was shocked with the senseless firing without a reason. Tito Mboweni is concerned about the firing of Central Bank Governors and the interference by African Govts in the day to day operations of Central Banks. Tito Mboweni’s concern is that hiring of Political Cadres as Governors of Central Banks will lead to unsound Monetary Policies. Mboweni fears that such Politically appointed Central Bank Governors will print money and squander foreign Currency Reserves with dire Consequences on the African Economies. It remains…
BoZ is not not independent. It has to run matters according to the government of the day. If people from chikwakwa think that they know something about the economy, let them become productive by producing something tangible not just waffling in air conditioned offices.
I still need to find out why the whole lot of PF leadership fears Seer1 more than it fears all Zambians put together. Can someone please give any reasons for this bizarre phenomenon.
COVID 19 SHOULD HAVE KILLED U.ARE.U ON A DRUG?
Esi mwamubona cwale Lubinda mishapu yahae, anyway, don’t ever listen to someone wa mupumananga wa kwatasi, ki lihata.