Friday, May 10, 2024

Zambia Receives €23 Million in Direct Budget Support from France, Strengthening Bilateral Ties

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In a significant development for Zambia’s economic growth, the Republic of Zambia has received direct budget support worth 23 million Euros from the French government. The financial injection aims to support various sectors of the Zambian economy, highlighting the deepened partnership between the two nations.

The financial support was officially confirmed during a signing ceremony at State House, where the French Minister of State for Development, Francophonie, and International Partnerships, Chrysoula Zacharopoulou, paid a courtesy call on President Hakainde Hichilema.

President Hichilema expressed gratitude for the bilateral and financial support from France, emphasizing its crucial role in Zambia’s economic growth. He underscored that the strengthened partnership is a testament to the confidence France has in Zambia’s new government.

During the ceremony, President Hichilema and the French Secretary of State signed Declarations of Intent in various areas, emphasizing people-to-people relations and cultural ties. The President conveyed his commitment to fostering more investment partnerships with French investors, seeking capital, joint ventures, technology, and value addition to spur economic growth and job creation.

President Hichilema highlighted the importance of the European Union gateway project of the Lobito Corridor, acknowledging its contribution to connectivity given Zambia’s strategic geographical location. He also appealed to France for assistance in resolving Zambia’s debt impasse with official creditors, a crucial step for unlocking economic opportunities.

President Hichilema said Zambia is ready to carry out more investment partnerships with the French investors, he noted, as the country was looking for capital, joint ventures, technology and value addition that would grow the economy and create jobs.

“President Emmanuel Macron and I have agreed to deepen the relationship between our two countries and these joint declarations of intent and the investment partnerships are results of our interactions,” President Hichilema said.

The Head of State further requested France to help Zambia to finalise its debt impasse with the official creditors, noting that it will open doors for economic opportunities.

In June 2023, Zambia reached a deal with its official creditors, including China, to restructure $6.3 billion in debt. However, this deal did not include Zambia’s private bondholders. In October 2023, Zambia reached a deal with its private bondholders to restructure $3 billion in debt.

Ms. Zacharopoulou reaffirmed France’s dedication to providing strong and sustainable financial support for Zambia’s economic growth. She disclosed a substantial 16 million Euros budget support from 2023 to 2024, with an additional four million Euros allocated to the school feeding program. Other allocations include four million Euros for water and sanitation support and a 1.5 million Euros grant for sustainable forestry management.

Acting Minister of Finance and National Planning Felix Mutati emphasized the significance of the ceremony, marking the entrance of direct budget support from France. He commended President Hichilema’s vision for prudent economic management, transparency, and accountability in public finance.

Minister of Foreign Affairs and International Cooperation Stanley Kakubo highlighted that the commitment from France is a result of high-level engagements between the Presidents of Zambia and France. The Memorandum of Understanding (MoU) encompasses two financial agreements and two joint declarations of intent covering water and sanitation, sustainable environmental management, critical metals and minerals support, and public finance management, respectively. This comprehensive collaboration aims to foster a mutually beneficial and enduring partnership between Zambia and France.

57 COMMENTS

    • Amthola Nkhani naimwe muzichitako analyse vintu. the headline is supposed to be “France Bribes Zambia with €23 Million in Direct Budget Support in bid to infiltrate Africa after Niger and Mali failures”

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    • @Anonymous: when your ass runs for and wins office, you can get what you want. To do that, you will to get past the votes of the likes of me. Getting grants is better than borrowing US $33 billion, as your relatives Michael Satan and Edgar “Johnathan Mutwarie” Lungu did, and looting it. The only thing better than a grant, is money you earn on your own. Because of the US $33 billion your relatives above, borrowed and looted, all the money we earn, is taken by the people we owe the debt. The borrowing and stealing by your above relatives, have left us paupers and beggers.

  1. Now apa peve nakana, France is not a country to accept handouts from. Cos they always have strings attached to them. I would prefer China,Dubai or even Iraq but not France, cos look at all the French colonies ? The only war left in Africa is all in French colonies. Pls my president France eeve kuno sitimufuna. Ayende chabe mwe

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    • Unfortunately HH is not very well informed about African or world affairs. I doubt he’s even aware of what has been happening in West Africa with regard to France’s oppression of former colonies. How in the world can he accept “free” money from a villain, a colonizer that has been chased from former colonies? Does HH think West Africans are foo1ish for cutting ties with this mobster , Macron? What the heck is this?

    • @Kaizar Zulu. You see, when you indicate the truth and I have extensive knowledge about, I don’t disagree with you. It looks like UPND is panic mode, France of all the countries. France got issues, big issues.

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  2. Ushe what is wrong with this president? why is this man taking Zambia back to the dark ages? How do you entertain such nonsense. Surely this man knows how to invite trouble. 2H if your aim is to ruin our children’s future then we shall summon our ancestors to give you sleepless nights. This is not normal.

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  3. The French know Mwinilunga has Uranium. Since they have been kicked out of Niger you shouldnt be surprised if Orano the French Uranium Miner announces it will be setting up camp in Zambia.

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    • If you have the technology to mine and process Uranium, why don’t you apply for a mining license?
      Yes, Zambia is rich in gemstones but the majority of Zambians don’t have the resources to mine, process, and sell them.
      Botswana has diamonds but still relies on the giant De Beers company to help them mine and sell them abroad.
      That is why you are poor. You just talk without seriously analyzing issues.

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    • @Piranha, are you just willfully an ignoramus? You mean you’re unaware of what France has been doing in West Africa, and how her former colonies decided to kick her out of their countries for extorting them out of their hard earned monies and stealing their natural resources? Or are you just a French agent? Macron and his shady French companies have been conducting their affairs in West Africa like mobsters. They’re nothing like De Beers, you foo1.

  4. ………..

    Any financial help is accepted, unless you are dullards who can’t play the west at their own game……….and atleast have a 50/50 win….

    Do you think the French government would refuse a $23 million gift from zambia ???

    Emancipate yourselves from mental slavery and fear of the white man……….

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    • Spot on Spaka.Even every dullard like DejaFOOOOL knows that Zambia is highly endowed with natural resource.But to extract and add value to the resources requires large stocks of capital which we do not have Zambian incomes are so low that they are unable to save for capital. We live from hand to mouth.The altenative is to borrow so that we can accumulate capital.But capital accumulation means you shall not eat but sweat and toil until your capital reaches that critical mass that will enable economic take-off.If you tell DejaFOOOOL to defer eating but work hard,he will run naked in protest against high cost of living.Then PF will take advantage, borrow at high cost and give him some free things to placate him then pocket the rest.The result is perpetual poverty

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    • Ati “The altenative is to borrow so that we can accumulate capital” So PF was correct after all!!!!

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    • MuZambia

      1. Yours is a limiting mindset. Capital is everywhere in the world including in Zambian Banks. A nation develops not because it has capital, but when citizens have ideas that get converted into capital. Capital is an IDEAS. If you go to a bank with a well-structured-business plan to create either a product or service and sell to the marketplace, the bank will study your business plan, when they see potential, they take a risk and fund the project (even without collateral) because they take insurance on their capital. Banks don’t like *saver-customers; they pay them interest. They love *borrowers because they charge them interest.

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    • MuZambia

      2. It’s about doing your homework and research. Write a business plan as a road map to produce and sell a Product or Service to the marketplace and include 10 important elements that are commonly included in a business plan:

      1. Executive Summary
      2. Business Description
      3. Market Analysis
      4. Organization and Management
      5. Products or Services
      6. Marketing and Sales Strategy
      7. Funding Request
      8. Financial Projections
      9. Risk Analysis
      10. Costs Of Running The Business
      11. Appendix

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    • MuZambia

      3. If you want to borrow or lobby from foreign investors such as Private Equity Companies, Venture Capitalist, Investment Banks, etc… then in your business-plan you have to include other important factors about Zambia such as:

      1. Economic Stability.
      2. Political Environment.
      3. Legal and Regulatory Framework.
      4. Market Size and Demographics
      5. Infrastructure.
      6. Cultural and Social Factors.
      7. Trade and Investment Policies.
      8. Currency and Exchange Rates
      9. Security and Stability.
      10. Tax Environment.

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    • INDEPENDENT OBSERVER @@@

      I have to admit that I have insulted and bashed you in the past…..
      BIG RESPECT TO YOU. You do the talking and the walking…

      It explains why you invested $15,000 and made $50 Million from Bitcoin. You are savvy and we need visionary people in Zambia………………………………………………………………………………………………………………………………………………………………….

  5. HH in opposition was Mr Know it all….Politicians can lie mwandini…it turns out the man has no clue…zero ideas…i think i will start calling him the “the brain dead Politician “…..skopo donono

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  6. Ishi shonse ninkongole regardless of the terminology used… somehow you will have to pay back either cash or in kind.

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    • Emancipated your self from mental slavery and fear of the white man………..

      If for example the French attach strings to this money to mineral extraction………

      Before giving them a licence , we add they train 100 Zambians in geology or mineral processing………

      That way every one gains…….

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    • So for you to “Emancipate your self from mental slavery” is to borrow from the white man? Then Lungu is the most emancipated man in Africa. Bwahahahahahaaaaa!

  7. France was among the first countries to recognize our independence in 1964, and they opened an embassy in Lusaka. France has been since 2003 an observer member of the COMESA. French classes are taught at Kabwe’s military academy and to all soldiers interested through the Alliances Françaises of Lusaka and Livingstone. In July 2015, a branch of the Council of the French Foreign Trade Advisors (CCEF) was created. French companies are involved in the European Union-Zambia Business Club (EUZBC), officially launched on the 8th of June 2016.
    And many more corporations in water and sanitation.

  8. Busy smiling for handouts as opposed to collecting taxes in the mines. What are the string attached to this money? ZRA has failed to meet its target for 2023 and now our begging president is doing what he does best. Taking selfies with white people holdong half a loaf of bread in his hands. What a shame!

    • Assisting west fully understand the damage done by 10 years of reckless stealing, looting , borrowing and moral decay of all systems of governance under lungu and PF………..

      They also understand what we have archived in under 3 years……

      Forward 2031……..

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    • Thank you kci for educating me. So thats what our President does best? “Taking selfies with white people holding half a loaf of bread in his hands”
      What about using inept urban kaponya phrases like “Kutumpa uko” and “nimuzungu opusa”?

  9. Ka Lazy Lungu.
    You borrow capital to make more capital meaning you defer consumption.PF was borrowing to feed you with cheap fuel,food,energy including buying your daipers.Why cant you get simple explanations,kanshi?

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    • But what about HH? Borrowing to reward his cadres with huge sums of money in the pretext of compensation. What capital has HH made apart from building poor quality infrastructure with his disorganized and uncoordinated CDF.

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    • kci

      You are just annoyed your clique can’t steal from Lusaka because………

      CDF has moved the money away from Lusaka………..

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  10. Independent Observer
    Dont confuse DejaFOOOOL with your windy Grade !2 Social Studies & Bookkeeping. I am talking economics and human development here,not business and finance.In economics people’s ideas can be termed human capital.It is a reason why some intelligent people will patent or copyright their creations
    ….And am sure you must have failed your business studies and communication skills

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    • @ MuZambia

      Its because for you everything is about attack and you are actually making a fuuul of yourself. Even a person like me who supports HH can see that what is missing in Zambia is people are lazy tapping into their potential. @ OBSERVER is 100% right. Putting Ideas into actions is what will liberate us. Not business studies that you are talking about. Ideas is what create money. Even a person who has never been to school knows this…..

    • @ MuZambia

      You are hateful to @ Independence Observer. Why would you embarrass and sink low to the point of talking about Grade 2 Social Studies. Stop being an EEEdiot.

      He just responded to the point you made which is:

      “” BUT TO EXTRACT AND ADD VALUE TO THE RESOURCES REQUIRES LARGE STOCKS OF CAPITAL WHICH WE DO NOT HAVE ZAMBIAN INCOMES ARE SO LOW THAT THEY ARE UNABLE TO SAVE FOR CAPITAL. WE LIVE FROM HAND TO MOUTH.”

      @ Independent Observer responded that if you have no capital, and Bankers see potential, you can get capital. He is very insightful and helpful.

    • You are too dull to understand what Independent Observer is explaining.
      Let me give you the simplest example of Capital Availability: The Lusaka Ndola Dual Carriage is being constructed with money borrowed from NAPSA. But unfortunately your party chose to give it to foreigners ( typical). Capital is not an abstract…oh know you won’t understand.

  11. Hehehehe………….

    People are swayed easily………..

    That’s why dodgy prophet’s make money in Africa………

    Not saying any one is a dodgy prophet , just saying…….

    Independent observer is just repeating 101 economics and look at these people falling all over him……….

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    • # Spaka

      Everyone knows that negativity is your blood. That’s why not too long ago you said tickets to Zambia are too expensive because you are so stuck in UK. You cannot compare yourself to Independent Observer with what he has achieved in his life while all what you do is spill negativity.

    • Spaka

      1. Lifestyle is a choice we make. Every person is {1} one decision away from becoming successful. It means decide what you want to become and take actions. I cannot choose to be poor in life so that you *appreciate or like me at lusakatimes It’s impossible for you to disturb my peace. I passed the threshold at 25yrs. In you Spaka, is limitless wealth called Imaginations given to every person. You just need to convert your imaginations into Ideas. Propel those ideas with baby-steps or gradual-actions, they will give you compound returns/yields. Thereafter, you can live the life you dream of; use your surplus for *needy-people or *develop Zambia.

    • Spaka

      2. You *Read, *Write & *Speak English, which is enough tools in life to take you to higher heights. You are in UK; with massive advantages to access capital such as bank loans, investment capital, countless investment derivatives with least effort. We are in an Information-Age & Internet Technologies. So, poverty is a choice. I have been orbiting in your head for a long time. The sooner you evict me from your head the better for you.

      How much is your creative energy – is tied up in hate, guilty, regrets, insecurity that you can use to create a new destiny?? Don’t waste your time getting addicted to these negative emotions that are blocking you to realize your potential.

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    • $$$ SPAKA……………………………………………

      Aiiiisshhh…. reading this that must hurt inside you. The good thing its the truth about you. If I was you I would take a serious look at you, swallow your pride and absorb his wisdom. Thank you $$$$ Observer Independent…………………………………………………………

    • Hehehehe………….

      You lot are dreamers……….

      One thinks because I said tickets to zambia are expensive in comparison to SA , I can’t afford a ticket ???

      The other one is ready to sign his house and life over to independent observer………..

      I am now retaired BY choice……..I only work part time WHEN I feel like it.

      I want for nothing. My hard work earlier in life is paying off , enabling me to take early retairment and to blog on LT all day , all week……..

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  12. Macron and his France have been kicked out of West Africa for their economic oppression of various former colonies. Now villainous, desperado Macron, has targeted Southern Africa to find new countries to economically colonize and pillage. He has been looking for new puppets in Southern Africa. He knows that’s where foolish, ignorant leaders who are oblivious to what has been happening to the rest of Africa are found. And unfortunately HH has willingly and fully cooperated to become a French puppet. Soon Zambia will be using Cfa. What a tragedy for Zambia.

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