Thursday, June 13, 2024

President Hichilema Urges Citizens to Prioritize Investment over Conspicuous Consumption, comments on the K65 Million case

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President Hakainde Hichilema has called on financial institutions, particularly banks, to increase support for Small and Medium-sized Enterprises (SMEs) by reducing the cost of capital. Speaking at the inauguration of the Indo-Zambia Bank’s Corporate Head Office in Lusaka, President Hichilema emphasized the crucial role played by SMEs in job creation and improving the livelihoods of the people, highlighting the need for these enterprises to receive financial support.

President Hichilema urged the banking sector to provide increased assistance to SMEs, enabling them to expand their businesses and contribute to national development. He emphasized the importance of financial inclusion for ordinary citizens and urged the bank to reduce the cost of capital for SMEs.

“The growth and success of our country’s economy are intertwined with the presence of institutions with strong balance sheets, such as Indo-Zambia Bank, which are focused on wealth creation, employment generation, and sustainable growth,” President Hichilema stated.

In his address, President Hichilema also addressed recent reports regarding the misappropriation of over 65 million Kwacha recovered from corruption by the Anti-Corruption Commission (ACC). He stated that these reports were intended to derail the government from its development agenda. The President clarified that the money in question was actually used to finance students’ access to quality education through the Ministry of Finance.

The President’s comments came in response to allegations that the ACC had misused the recovered funds, potentially hindering the government’s efforts to combat corruption and advance its development goals. President Hichilema affirmed that the funds were directed toward a worthy cause, highlighting the government’s commitment to improving educational opportunities for the nation’s youth.

14 COMMENTS

  1. When will akainde learn to keep quiet. He is always protecting thieves because he is a thief. Why can’t he allow investigations to take place than commenting on anything

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    • MMMMMM…….i think you are misguided….or may be you want to mislead people.
      Any way i realise you thrive on rumours. I fit were PF that money would vaished into very thin air. Now that it has been put into good use – bursaries that others don’t want to hear – then he is protecting thieves.

      Please prove your allegations.

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    • @Tarino what is he doing in the last three paragraphs starting with: “He stated that these reports were intended to derail the government from its development agenda. The President clarified that the money in question was actually used to finance students’ access to quality education through the Ministry of Finance………”

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  2. Hh this hh that. I even ended up dreaming I was in bed with mutinta hichilema. Lusaka times reduce on reporting about this failure. We know he is funding you but you are giving some of us sexual nightmare

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  3. Mr President, we are not disputing that the k65 million cash was spent on student loans. Our issue and that of the Auditor General is DOCUMENTARY EVIDENCE (written instructions and bank transfers/statements) of how the cash moved from ACC to BOZ, Ministry of Finance and finally Ministry of Education. NOT DUMMY CHEQUES AND HANDOVER CEREMONIES PLEASE! Is that too much to ask ba new dawn?

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  4. If you tell HH the truth the you are intending to derail government works. My advice to HH is go to the nearest market a do a shopping. Pay for electricity and then compare the prices to two years ago.

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  5. If others are being arrested for not following proper procedures while in gvt no matter the evidence of money used, why then I this 65million without proper bank procedures being defended ,and how far are we with publicly declaring assets and liabilities so we trust you Mr President

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  6. This man has no direction because he’s very disjointed. He knows that as long as his government continues to mop up funds through Treasury Bills, SMEs won’t get any chance to get funding at reasonable rates from banks. As for the K65M it’s been said that it didn’t reflect in the account it’s been said to have been deposited, how does that question derail development programs? No wonder the Bishop asked who the joker was between a Priest and a liar.

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