President Mwanawasa has urged Zambians living abroad not to be complacent with their life in foreign countries but learn to invest in their home country.
The President was speaking at Zambia’s ambassador’s residence in Berling, Germany last night when he addressed Zambians resident in that Germany.The President said government did not want to see a situation of ‘A Phiri ana bwera,’ referring to a song by the late Nashil Pitchen of a man who came home empty handed after years of luxury life away.
He said government did not want such situations to happen to some of its nationals living abroad prevail hence his advice to them to invest back home.
“Always think of home. Send money and start constructing houses back home. We do not want to see a situation where you come back home with nothing after spending many years out of the country,” President Mwanawasa advised.
Dr Mwanawasa said he was aware that some Zambians abroad were reluctant to send money for fear of the money being misapplied by their relatives.
The President urged such people to utilise the services of institutions such as the Zambia National Building Society which would ensure that their investment were secure.
President Levy Mwanawasa also said he is disappointed at the failure by the Anti-Corruption Commission (ACC) to prosecute corruption cases on time.
Dr Mwanawasa says the crusade against corruption is well intended although no remarkable success has been recorded by the ACC so far.
He was responding to a question from a Zambian national on the effectiveness of the ACC in handling corruption cases.
President Mwanawasa said he regretted that the courts were taking exceedingly long to prosecute cases on plunder of the country´s economy.
“I am disappointed that the majority of these cases have now taken five years without being finished. I’m told that almost all these cases have now just reached midway. This is very sad indeed,” President Mwanawasa said.
The President said it was now apparent that the majority of the plunder cases may not be concluded by the time his tenure of office comes to an end in 2011.
He said government wanted the cases to be disposed of quickly so that those accused could be vindicated.
Dr Mwanawasa who has just concluded his official visit to Germany, said he failed to understand why it was taking long to finish the cases.
He however attributed the delays partly to unneccessary adjournments of corruption cases in the courts of law.
The President said the continued adjournments would complicate the cases as witnesses would die in the process or change their statements given at police stations due to passage of time.
“It is therefore extremely important that such cases are handled quickly to avoid these complications,” the President said.
He dispelled assertions that the fight against corruption was targeted at certain individuals saying instead that it was well intended and has gained the country a lot of respect.
Dr Mwanawasa also said his government has never interferred in the operations of the judiciary although it wanted timely conclusion of corruption cases currently pending in courts.
And Zambia´s ambassador to Germany General Kingsley Chinkuli told the Zambian community in Germany that the President’s visit to that country had been a great success.
General Chinkuli said since Germany was the third most industralised country in the world after the United States of America and Japan, President Mwanawasa´s visit would greatly benefit Zambia.
The ambassador said as a result of Dr Mwanawasa’s visit, the bilateral relations between Zambia and Germany had been raised to higher and stronger levels.
General Chinkuli commended Zambians living in Germany for travelling from different parts of Germany to meet the head of state.
President Mwanawasa today leaves Germany for Portugal to attend the Europe/Africa summit which opens tomorrow.
While in Germany, Dr Mwanaawasa held private talks with Germany Chancellor Angela Merkel and President Horst Kohler.
He also met Germany potential investors and the business community and urged them to consider investing in Zambia as the country offers an attractive investment climate.
Chuchu you are very fan. You even know the song A Phiri ana bwera. The advice is good. But u too have a part to play. You have a responsibility to the people of Zed to provide sound leadership, not just fighting FTJ. You have nothing to prove against FTJ. Instead just concertrate in developing Zed. We need to see an agro sector thats not dependant on the rain, interests and exchange rates thats are not that are not detected at State House. Raw export of copper should reduce or completely stopped
This does not sound good. Cases will take over 10yrs to prosecute. How much of the country resources will be spent on the lawyers fees. How ^ roads, clinics and schools would have been built. T think it is taking long because the govt just don’t have the evidence and taking the nation for a ride. Just drop these targeted corruption fighting and focus on a good constitution that give more power to the people to avoid the repeat of this. Already 6 trillion kwacha has gone missing under LPM govt..
does the ambassador in whose presence this advice was given now have a house to retire too ??I hope the general has heeded the advice from the boss as he won’t have a second chance again !!
#TOP dont forget the general was the first army commander and was minister in KK era so he has a place in Zambia.The advice is for everyone do what other nations are doing. This is what is called love for your country. Now you see why how complicated the corruption case are next time ask Ntemba Ncito instead of the president becuase has invest these powers in him. According to my friend Iam told Ncito is among the entourage so he heard this for himself.
There is no smoke without fire.What about mosi-o-tunya?I still regard Magande as a someone who’s wearing shoes that are either too tighty or too big for that national position he’s holding.I’ve confidential report that his juniors are the one doing his job.The man can not even manage his personnel expenditure.Bana makwekwe ni taputapu,chibuku nibwee,abana fyani,ubusali ni lekaleka.Ba new deal govt anti yande umubofiwachalo.Yangua uluse ine.Nicho camuliso ngacali camunona nganafyona nati napyoo!
Inka yamilimo George Mubanga ifilya aleti “imilubamfwa†mubano.(Magande is not different in thinking like a kid and yet Chuchu still claims that they are NOT KIDS.It’s the behave and thinking that speaks volume.Who’s Magande to refute the facts that FTJ has on first hand info?The man knows the operation of the govt machinery and his hitchmen are allover the govt system.Let the govt tell pipo the owner of the Professional Insurance firm.Yes,we are now dealing with the so called NEW DEAL
cont..
NEW DEAL govt.If they claim to have scored something in their 7 years adm, then there failure to fight corruption,encouragement of dirty deals,protection of family tree will make the equation ukuikasula(cancel)nokushalapofwe nalyakwanamungwa(zero).
Pipo plz read the article above and plz dont vomit.I REAP, DONT vomit after finishing reading Magande’s remarks.Serious he’s he caple to hold that position?JESUS WEPT
Dr Mwanawasa(jumbled=mwawa sana=failure).Tell the truth about the owner of Professional Insurance firm and nothing else but the truth shall set you free.
LPM put incentives in place,such as tax rebates,custom duty concessions, etc and we will be glad to invest in Zed.Investment should not only be looked at in terms of cash but also in terms of other resources such building materials,machinery,vehicles,household items etc. That is why there need to be a rebate as far as customs is concerned
“2”Hear Hear.You are so right.Cases in Zed take to long in most cases lead to nothing but yet money is been wasted.The should be some kind of law to fast track some of these things.The difference between a whiteman and a blackman is one invests in a future the other lives like a king forgeting tomorrow.”3″That should answer your question.Lets hope he has a house?
Ba Chimwemwe(9),you have hit the nail on the head…GRZ must offer tangible incentives otherwise what he suggests will remain a pipedream….Zambia will see my money if and when i choose to return and not a minute before.As at now ZRA will slap such heavy duties on any katundu diaspora Zambians send home it makes returning an absolute nightmare!!
Ba Jose,
Magande was in his element when re rebutted Titus Mpundu allegations. He produced facts and we all ended up enlighted on GRZ financial procedures.
While Titus Mpundu was busy clwning and proving to be a showman that he is at his press conference , Magande was explaining as any seasoned educated finance man would.
He is the best finance Minister this country has ever had.
The facts remain that, fighting corruption is a moral issue. It does not matter how much it cost. The long terms effect are much more beneficial .Magande is a professional who does not claim to be a genius but a good leader.He allows his Ministry professionals to do their work professional while he provides professional and political guidelines. We dont want the Katele’s with PhD but still practice witchcraft
its amazing ba HK(13) that someone with a PhD in Sociology can dabble in witchcraft!!!??If witchcraft really worked wouldn’t the CIA/FSB/Mossad use it to maintain worldwide stability ??Katele is an embarrassment to the educational elite of Zambia!!
That is the main problem with politicians.LPM is busy encouraging Zedians abroad to invest back home, but cannot provide decent tax incentives for people to do this.How in the world can you invest when 75% of your investment cost goes to taxes.Be real and don’t just play politics.Work out a favourable tax regime with ZRA then you will see an influx of various investment iniatives from Zambians abroad.Put your money where your mouth is ba kateka.Ya!
That is the main problem with politicians.LPM is busy encouraging Zedians abroad to invest back home, but cannot provide decent tax incentives for people to do this.How in the world can you invest when 75% of your investment cost goes to taxes.Be real and don’t just play politics.Work out a favourable tax regime with ZRA then you will see an influx of various investment initiatives from Zambians abroad.Put your money where your mouth is ba kateka.Ya!
If $201 million could be sent to Zambia by people in the diaspora within one calender year mostly for consumption purposes.One can only imagine how much potential investment could be pumped in our economy if they were incentives in place.
Grovelling Mulyata arrested
Southern Province Minister, Joseph Mulyata has been arrested by the anti corruption commission (ACC) for abuse of authoriy of office. Mr. Mulyata, 47, of house number 38 Kanyanta road in Livingstone has been charged with one count of abuse of authority of office contrary to section 991 of the penal code chapter 87 of the laws of Zambia. ACC spokesperson, Timothy Moono confirmed the arrest of Mr. Mulyata to ZNBC news in Lusaka, Friday. Particulars of the offence are t
Chief Bootlicker arrested
Particulars of the offence are that Mr. Mulyata being a person employed in the public service as provincial Minister for Southern Province between 5th and 13th july 2007, abused the authority of his office by directing officers from the Road Development Agency to release a Germins Motorways bus. The bus belonging to businessman, Geoffrey Bwalya Mwamba had been impounded for evading a way-bridge without paying the required fine.
Kwasala nixon banda manji.
Celtel Zambia to list 20 pct shares, increase users
Can ACC concentrate on cases with less chances of political interference!! Central Board of Health assets have been stripped and shared among an elite few.Mulyatas’ case is trivial compared to what has gone on during the dissolution of the CBoH!!
Original pundit, you seem to contradict yourself, are you afraid the guillotine will soon be on your neck. No theft or corruption is too small. As long as that crime is to disadvantage the other human being is worth looking at.
The CBOH suspicion of theft should be checked and the suspects brought in. Mulyata case is long overdue and if he has surely been arrested, is a welcome news. Mulyata demoralized civil society by doing what he did and even insulting our lowly paid but honest C/Servants
A head of state should know that he is the one with the responsibility to make it easy for people to invest back home. So far I dont think the president has done anything to help us Zambians abroad in investing in Zambia. We have only been insulted about how we have run away from problems when he knows that it is the problems that chased us. We were even told to shut up by the president because we were not in Zambia.
ba HK(23), you are probably right…a crime is a crime.as for the guillotine….i fear it not!!when we did what we did…it was not a crime and the law is never retrospective !!! just joking !!!
Neuter (24),
Your thinking is very shallow no wonder you have condemned yourself to that thinking.How come a lot of Zambians returning are picking up with momentum in the economy? The Ground is leveled. Put your papers right and visit home.You will be surprised how much you have been left out.People are building mansions, driving cash paid SUVs, sending their kids to international schools, able to go on vacation to places of their life dreams and running own businesses with fat account balances
LT Overseer,
Refer to my post # 40-44 under “Levy not impressed with Browns decision, December 5, 2007”.
I have tested the IPs of all the people you blocked and confess that they have been dully unblocked. That is magnanimity that drives projects forward. Your row ought to be above factional interests in a diverse undertaking where rivalry is the norm.
Yours should be fair moderation only.
Bravo
I aslo encourage Investor to continue challenging us with the message of need to planning and build wealth for our future.
Bravo
LT Overseer,
Refer to my post # 40-44 under “Levy not impressed with Browns decision, December 5, 2007″.
I have tested the IPs of all the people you blocked and confess that they have been dully unblocked. That is magnanimity that drives projects forward. Your role ought to be above factional interests in a diverse undertaking where rivalry is the norm.
Yours should be fair moderation only.
Bravo
Levy is giving timely advice for people living abroad many of whom dont know that there are many good things happening in Zambia right now.
I totally agree with 16 and 24#. If i remember very well zimbambweans were given insentives to invest in Zimbambwe between 2003 -5-.If lpm wants us to invest then give us some incentives. we send alot of money and if we are given chance investing will be the happiest to do so.
Appeasing statement LPM,I am sure it was music to the audiance.The country as a whole can benefit from the incomes we generate abroad, unfortunately there are no legal structure to harness this.
If we cannot have original ideas why not copy from countries like MEXICO and the PHILIPHINES who have worked it out already.
As a by the way, COPPER is now six times the price of a few years back (at LME). what do we have to show for this improved earns? nothing!!!! Mine owners are enjoying tax relief.
Ha ha what a timely advice to you A Phiris. Seriously most of phiris would want to invest back but its just difficult to manage ones investment on the phone thats why many have just resorted to going for morgages in the diaspora.
mala – msana wandalama.
If you have well to do siblings: Brothers, sister, parents or in-laws, you don’t go through your fear mode.A phone will get you things happening beyond expectations. Always you will be encouraged to visit your projects even randomly. Brothers and parents will share with you part of their estates with titles deeds for your development.Out of experience my brother and my in-laws have done that me.Over the 9 years have been in the Diaspora, my brother has built us 2 houses.
Before retiring, my in-laws bought us two houses. Las year we asked for one to go and use the proceeds to build some flats in a prime area. Today ZESCO is renting as our corporate tenant. Rentals are financing our education in the diaspora. Such arrangements give levearage to do more things in life. Even PHD you never dreamed is a possible.
Good families are a factor to your success.
Yesterday we shared together the essence of futuristic vision through smart choices of wealth creation and prudential resource management.Thank God Dr.Mwanawasa has just reminded us all to secure our future.
Today, let us dwell on “Budgeting and prudential financial skills” as keys to prosperity.After this we will zero on managing your “debt ratio and securing capital”.
Even though holidays and special events arrive sporadically throughout the year, you can still fight the costs associated with these events using a little foresight and some digging into past spending patterns – and, this is where your budget comes in to save the day. The biggest hump to get over is in trying to estimate what will be spent in the current year based on historical precedent and current unique circumstances.
A good place to start building your budget is to go through receipts and bank statements to find out what you spent on gifts, travel, food, decorations and the like in the past year. Assess which are related to annual events and which are of a one-time nature, such as a wedding or graduation party. And don’t forget to include those often-forgotten items such as cards, wrapping paper and workplace events – these should be considered tied to the holidays for budgeting purposes as well.
Some budgeting experts maintain that you shouldn’t be spending more than 2% per year of your total annual income on holiday gifts. That adds up to $800 for someone who earns $40,000 per year ZK equivalent. Setting up a personal guide based on your income level is a responsible idea, and can help towards year-long planning.
Fikai solver is dangerous
Many people choose to set up a Christmas club account at their local banking institution; this program allows you to set aside small amounts of money on a regular basis (such as weekly or monthly) beginning in January. The program will sometimes offer a modestly higher interest rate than standard checking or savings accounts because you commit to putting the money away for the majority of the year.
Having your money set aside throughout the year not only eases some of the financial stress of the holidays but could save hundreds in finance charges if it means avoiding credit cards or other consumer debt. You may even find that setting up a total budgeted amount for something like Christmas makes it easier to decide how much to spend to each person on your list.
Making a master list for the holidays also increases the chances that you’ll spend wisely. You’ll be more likely to comparison shop or find that perfect gift on discount a month or two before the actual holiday.
A big no-no is dipping into credit cards to fund purchases that could be provided for with some proper cash management at different times of the year. Purchases made on credit will incur financing charges that eat into your disposable income. If dipping into credit cards is unavoidable year after year, it’s time to make some hard decisions regarding how much is spent during these festive times of the year.
It is inevitable that expenses will come up which you haven’t planned for; a budget is only a guidepost. The longer you can spend editing a budget based on the past and your expectations for the future, the more accurate and useful it will become.
with many obligations and towering expenses. Since being extra-busy and having lots of gifts to buy is stressful enough, why add to that burden by blowing your budget or even going into debt? It’s difficult to enjoy the holidays when you’re worried about money, so use our money-saving tips to put more ho-ho-ho in your holiday season.
Secure the future of young children avoid impulsive purchases. Develop a culture of contentment and fulfillment that is based on realism.
“It is that time again already,” you grumble in your “Grinchiest” voice last year. “Weren’t there jack-o-lanterns in the retail window just a few months ago?” Yet, every year by the time you make it to the checkout counter you’re humming “Deck the Halls” with the other rubes, and your arms are stuffed with stocking stuffers. How did this happen? Don’t feel too bad, you’re one of the multitudes who are easily tricked by vendors and peer pressure to increase your spending at this time of year.
Thirty-six percent of adults spend more than they can afford, according 2006 survey by the Pew Research group. This means that between you and your two best friends, one of you will be breaking your Christmas budget this year.
Overspending is never more evident than during the holidays, when holiday spirit can trip-up even the most careful budgeters, and retailers work especially hard to squeeze every last drop of sales out of customers. But, you can save on your holiday purchases without being a Scrooge. Read on to bust six of the most common tricks retailers use to put a little extra jingle in their cash register every holiday season.
The tendency to overspend because of holiday cheer is not lost on retailers, who do their very best to capitalize on shoppers’ relaxed spending attitudes. According to the National Retail Federation (NRF), the average shopper spent almost $900 dollars on holiday shopping in 2006 on items such as gifts, cards, decorations and food.
And these purchases provided a full 20% of sales for the retail industry. Because a lot of their yearly sales figures depend on the holiday season, you can bet they won’t be cutting any of their tricks
I implore you for your own good to start investing in “Emerging markets” and diversifying your investment risks by stepping even in troubled waters like Zimbabwe. This is the best time ever to own properties in SADC.
As potential investors, the foreign reserves figure is worth paying attention to. After all, when countries went into delinquency or default on their external debt obligations, they essentially did not have enough money on hand to pay down their obligations. Here we see that some countries could pay down all their debt tomorrow if they had to out of their reserves – clearly an important factor in those improved credit ratings.
One of the basic factors in deciding whether to invest in emerging markets debt is what risks you want to take. These markets offer a mix of sovereign, municipal, corporate and structured debt just as developed markets do. Offerings are divided into domestic and external, with the former being local currency issues and the latter denominated in U.S. dollars or another developed currency.
During the period from 2002 to 2007, many domestic bond issues performed relatively well because local currencies had appreciated versus the dollar. That could always change, however, and currency fluctuations add an extra element of risk to emerging market debt investments.
Emerging markets debt is a readily accessible asset class through mutual funds. Well-known fund managers such as PIMCO, Alliance Bernstein, Western Asset Management and DWS Scudder offer funds that access a variety of countries and product types. PIMCO, for example, offers three different emerging markets debt funds, each of which has a different focus: local currency (domestic) bonds, U.S. dollar-denominated bonds, and a mix of direct currency exposure with diversified bonds, loans and other in
Mutual funds allow retail investors to participate in an asset class that would otherwise be difficult to access or diversify within. Bonds do not trade like stocks, and the process of investing in individual securities can be expensive, time-consuming and complex.
Nomba Bakalamba ba Levy, You just talk investing in Zed, yet there is no normal procedure of even getting land in the Zed. Allocate some land for those in Diaspora and advertise kabili.
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Nurse incharge at Chainama, ensure #36-56,takes his morning dose.
investor,stop plegiarism.It is an offence.
Chuchu ni ndoshi iyineine.
Ba Fact…
Kashi nimwebo pa coke ad ya Brrrrrrrr! Iyoo kwena muleshipanga indalama but try to shed some fats otherwise you will have ubulwele mwamutima atemwa chipumputu te?
Katumbi saga cant just go without comments,Govt has agreed to stop legal procedings fom ZAMNET domain.Who really dribbled the other?Pipo like myself would like to know what really happened. This govt is hinding the truth maybe after 2011 we will know the truth. You can’t fight Corruption in a selective manner as we are seeing.Katumbi knows what really happened in 20001 during election time coz he was the one supplying meal mealie.So if this is proven could LPM be prosecuted for this after 2011?
Yes pipo in diaspora need incentives back home. You send money to a savings account in zed,they get all sorts of service charges including things one has not agreed to. Other countries you prove you live outside then you money is safe in a bank. Not many pipo can build a house from the pocket, this is where bank loans come in handy even for pipo in the diaspora.
By the way living outside does not mean you have run away,the world is now a global village with international jobs even for zedians.
I sincerely hope you are not just blogging and making low value figures when opportunities are aplenty. Know lines of businesses that pay big money and guarantee sustainable family social security. Opportunities will never come after you in slumber, or straight jackets of insults and framing.
You better follow opportunities with focus and determination. If you die today, could your family face the future with an assurance of self support? Build your wealth and spread your risk smartly. You can rival foreign entrepreneurs. Yes you can, considering that others are doing it and staying their course.
I repeat,Start building and managing your wealth smartly now. Exploit every opportunity in the troubled waters. Organize yourselves and mobilize resources in the Global village. Buy properties in Zimbabwe and such weak sectors of potentially stable economies where there is capacity to sustain the long term gains in the long run. Lessen your risk aversion, spread your wealth. Build wealth now and access if your family would be beyond a potential crisis following your demise God forbid.
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g
KATUMBI SAGA
1.Zambia is after Katumbi – Sikatana
2.I have damaging info on the MMD THUGS – KATUMBI
3.Zambia owes Katumbi money-VJ
4.I can bring down these MMD THUGS-Katumbi
Katumbi at liberty to come to Zambia – LEVY
What`s going on here?
69-75
That`s how the new deal gov operates.
Often, we hear accusations that businessmen and fund managers are money grubbers- too wrapped up in the pursuit of money that they are not interested in some of the natural gifts of life in regard of the poor. Accusations hint that, they have missed out on the purpose of life. That is a totally misleading anomaly.
The truth is that responsible capitalism makes the fruits of individual labor available to the masses, and thus makes life better for all involved. This is the true purpose of responsible capitalism. It is the reason why many people choose to participate in this economic system.
Second, responsible capitalism is as moral as it could be. Least we overlook the words of Adam Smith when he said “it is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interestâ€.
Smith felt that self-interest is the psychological need to win favor and prosperity within one’s society. Realistically self-interest and moral sentiments are the same thing. Therefore, our responsible capitalism in Zambia by definition is moral. Now could we count on the need of all progressives in Zambia to succeed and be the moral fiber in our responsible capitalism?
LPM does he even know why the majority of zambians migrated after 1996? in search of better opportunities for our children? our children too deserve good education? what do you expect from a country with less than 600,000 individuals in formal employment. LPM is set for life and he owes FTJ his life for giving him the top job. my parents retired sometime back in the 80’s and we have to spend money every month to supplement their income.create opportunities for everyone and will see us come home.
Someone must cage Investor and Fact. These are run-away Chainama lunatics bent on a polluting the minds of other bloggers. Lusakatimes must enlist help from IT gurus and help stamp out illogical and ill-timed bloggers like the two. The last couple of days has seen LT retain its decency and the willingness to blog by well meaning Zeds. Please Bwana Editor stamp out this rouges. Yes rouges is what they are.
I am an ***** to draw the pipo on this blog from the topic at hand. I have no sikopo kabili ndicipuba, forgive me pipo bcoz sometime I am not my self thats why I ran away from Chainama Hills hospital.
Yesss!!!!! Investor/Fact is an *****. Thats gud news bane. Nomba no much paper work when they get admitte to Chainama. Pls LT watch these loons.
I have some great respect for chuchu. He is principled and this is why some of you guyz are kinda naive. But to honest FTJ deserves his punishment. Great men don’t just jump up and down anyhow. Despite his allegations, FTJ was not supposed to shift camp. Now he is with Mikel Saturn, i will have to observe this. The boys are trailing to the Zambezi River; and i only hope they know how to swim.
Chuchu with a badge of a doctorate,you are better off mwandi
Lusaka Times well done on the new look of your site.In the great name of the Almighty I would like to greet all my collegues on this blog namely BaJoze,Easy,Citizen,Kayata,CK,MDaka,Pragfimofimo,Veteran,Mala Msana wanzili,Titus, too numerous to mention.With such wonderful effort please provide sanity on this blog by blacklisting impersonators and allow professional information flow between bloggers.
Kim Roach is money?? She??s helped me make a lot of it, too. There are so many great marketing gems in this blog post.