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Interest rates jumps above 10% for the first time since 2015

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Bank of Zambia Governor Denny Kalyalya displays a Kwacha note to Journalists during a news briefing
Bank of Zambia Governor Denny Kalyalya displays a Kwacha note to Journalists during a news briefing

The Bank of Zambia has raised its key interest rate for the first time since November 2015 in a bid to stabilize the deteriorating currency and support macroeconomic stability.

The Central Bank has raised the Monetary Policy Rate to 10.25 percentage from 9.75 percent, Governor Denny Kalyalya told Journalists at a media briefing in Lusaka today.

Although the country’s annual inflation rate for the month of April is at 7.7 percent, the Central Bank projects that over the next eight quarters, inflation is projected to rise above the 6 to 8 percent target range for this year as some of the risks to inflation outlined in the previous MPC have begun to materialise.

Lower maize output, continued elevated fiscal deficits, high debt service payments and the decline in gross international Reserves are among the key upside risks to inflation, Dr. Kalyalya said.

He said these risks have also contributed to heightened adverse market sentiments and are exerting pressure on the exchange rate.

And Dr. Kalyalya said the demand for government securities at auctions remained weak during the first quarter of 2019.

He said the subscription rate for government bonds fell 29 percent from 33 percent previously however the subscription rate for Treasury bills rose to 91 percent from 88 percent.

Chilufya Tayali says the National Dialogue Forum was highly credible

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Chilufya Tayali
Chilufya Tayali

Economic and Equity Party President Chilufya Tayali says the National Dialogue Forum was highly credible and it achieved milestones in the history of Zambia.

Mr. Tayali says the Forum achieved a number of substantive and progressive issues which were looked at during the 16 days of seating other than the issue of Deputy Ministers which some people have concentrated on.

He said the people that attended the NDF, were the ones that had made submissions to have the constitutions amended and therefore, no one can argue that, the members of the NDF, were purposely selected to achieve a clandestine agenda.

Mr. Tayali said all the submissions from the stakeholders and the general public, were compiled and presented as the “Zero Draft” which the people that submitted issues had to refine and validate and add something to consolidate their desires.

He said whilst the negativists are over emphasizing the issue of Deputy Ministers, the NDF achieved very important changes to the constitution among them proposed changes to the number of days in which to hear a Presidential petition, Coalition government, reduced period for campaign periods and the proportional mixed representation among others.

Mr. Tayali wondered how amidst all these achievements the negativists have rubbished the NDF that it has just brought more costs by the re-introduction of Deputy Ministers, when in the issue was extensively debated and it was made clear that, Deputy Ministers do not get more money than Members of Parliament, except that, the pay point will change from Parliament to Cabinet Office.

He said it is therefore misleading to suggest that the Deputy Ministers will increase government expenditure, because they will only get the same amount that they are already getting as MPs.

And Mr. Tayali said while he is concerned with the delay in paying retirees by Government, he finds it unreasonable for patriots to support the idea of keeping people on a payroll when they have stopped working, therefore, the idea of paying retirees within 6 months should be encouraged so that, people can get on with their lives after leaving their work.

He also said that there was no payment at the NDF, unless to those who were sponsored by various organizations and individuals, outside the NDF arrangement.

Mr. Tayali said the issue of allowances, is totally out, in as far as NDF is concerned, no member was paid for attending or voting in a particular manner at the forum.

He said the Economic and Equity Party is glad that they participated at the forum and expressed hope that, the resolutions passed will be supported in Parliament so that they are enacted into law.

25-year-old woman delivers four babies through

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A 25-year-old woman of Silverest in Chongwe District has delivered four babies through a caesarian section.

Martha Mwansa delivered the quadruplet at the University Teaching Hospitals today.

The babies three girls and one boy were delivered between 10 00 hours and 10 18 hours.

Confirming the development to the media, UTH Public Relations Officer Natalie Mashikolo said the babies are currently being monitored in the neonatal intensive Care unit.

She said the Doctors attending to the babies have indicated that the babies are in a stable condition and will soon be with their mother on the ward.

By-elections for Pemba, Mitete set

The Electoral Commission of Zambia (ECZ) has officially set Tuesday, June 6, 2019, for conducting of by-elections in Maambo ward of Pemba district and Lupui ward in Mitete district.

This is contained in a press statement issued to ZANIS by ECZ Public Relations Manager Margret Chimanse.

Ms Chimanse stated that the vacancies in the two ward follow the resignation of councilors in the named wards on March 11 and 18, 2019, respectively.

She further advised aspiring candidates to lodge complete and attested statutory declarations and nomination papers on time.

Ms Chimanse has further advised candidates who wish to take part in the by-elections to present certified copies of their grade twelve certificates or equivalent, or higher qualifications.

Ms Chimanse has also stated that failure to comply with these requirements will render nomination papers null and void.

And the ECZ Public Relations Manager has advised the media and registered non-governmental organizations wishing to monitor the two by-elections to apply for accreditation in the respective districts from May 22nd to June 5th, 2019.

And that accreditation for political party officials wishing to monitor the election would be restricted to 10 per political party.

The campaign period for these elections commences on Thursday May 23rd, 2019 after 15:00 hours and will end at 18:00 hours on Wednesday June 5th, 2019.

And Ms Chimanse has clarified that not more than two political party members, per participating political party, shall be allowed to witness counting of votes at the polling station.

Austrian businessman donates medical supplies to Esther Lungu Foundation Trust

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Ambassador Mukwita and Hon. Consul Messinger

The embassy of Zambia in Germany working in conjunction with Zambia’s Honorary Consul in Vienna, Heinz Messinger has put together a 20-foot container of assorted medical supplies for the Esther Lungu Foundation Trust.The consignment consists of items such as feeding pumps, electric hospital beds, ICU beds, a transport ventilator and infusion pumps said Zambia’s Ambassador to Germany and Austria His Excellency Anthony Mukwita.

Mr Mukwita expressed gratitude to Mr. Messinger for the donation to the First Lady’s foundation that helps vulnerable people mostly in rural Zambia.

“This donation means a lot to the First Lady as her work is entirely dedicated to the poor who need access to quality health services especially in rural areas”, said Ambassador Mukwita.The Ambassador thanked all those that donated the equipment via honorary consul Messinger.

Since her husband assumed office, Mrs. Lungu has and continues to travel around the country to identify the needs of the vulnerable and providing support to them.Consequently, Mrs. Lungu has won accolades locally and abroad for her work among the poor and vulnerable people in the country.Ambassador Mukwita has said the First Lady will require the support of well-meaning Zambians and non-Zambians to enable her positively touch the lives of as many people as possible.

The Ambassador said many business houses stand ready to donate to the First Lady’s Foundation but they may in some instances need assistance in the transportation of the donations since Mrs. Lungu’s organization is Non-Profit making.He noted that the Esther Lungu Foundation Trust can play its part of faithfully delivering to the intended populations but will require the assistance of others to bring the donations closer home.

“In this case, we are appealing to individuals and business houses that can partner with the Esther Lungu Foundation Trust to transport the 20-foot container from Austria to Zambia,” Ambassador Mukwita said.

Recently, a group of young doctors in Slovenia, another country that Ambassador Mukwita is accredited to donated 205 medical supplies to the Esther Lungu Foundation Trust via the Zambian embassy.The First Lady’s team took it upon itself to transport the medical supplies to Nangoma hospital in Mumbwa where they were needed.The government of President Edgar Lungu has embarked on the construction of health facilities around the country to improve access to health services and void preventable deaths that in the past occurred among the poor.

As a consequence, there have been notable improvements in primary health care as more expectant mothers are able to deliver safely and see their children grow past the age of five.

Issued in Berlin by First Secretary -Press and Public relations
Kelly Kaunda
Zambia Embassy Berlin,Germany

2019 budget is clearly off the rails – Hamududu

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President Edgar Lungu recieves a report from Honourable Highvie Hamududu Special Advisor to the Presidency The SADC Election Observation Mission
President Edgar Lungu recieves a report from Honourable Highvie Hamududu Special Advisor to the Presidency The SADC Election Observation Mission

Party of National Unity President Highvie Hamududu has urged government to undertake a holistic mid-year budget review that can conclusively inform comprehensive remedial measures following the declining economic fortunes.

Mr. Hamududu said the macro economic targets set out in the 2019 National Budget are clearly already missed which must compel government to go back to the drawing board and re-work the macro economic framework.

He said the 2019 budget is clearly off the rail on economic growth rate, inflation rate, international reserves, fiscal deficit, exchange rate, fiscal arrears, debt sustainability targets envisioned in the 2019 budget.

Mr. Hamududu said the mid-year budget review has to put the budget back on the rail and will help government stop the current unsustainable firefighting approach to resolving the current economic difficulties the country is going through.

He said the government needs a methodical approach to resolve this economic downturn before it is too late.

Mr. Hamududu notes that if this needs holistic refinancing debt arrangement to correct the situation, it must be done as a matter of urgency.

He said this free fall in the exchange of the Kwacha must quickly be arrested before it creates serious inflation pressures in the economy that will become very difficult to deal with.

Mr. Hamududu said the tax policy needs review to incentivize investment, create jobs boost production, and promote exports.

He added that Mining taxes need a mid-year review to deliberately create competitiveness in the sector, for increased investment, production, jobs and exports.

Mr. Hamududu said Chinese option to dealing with the refinancing option is evidently more viable as China is Zambia’s major trading partner and therefore, logically holds more hope for partnership in the country’s economic recovery journey, while engagement with International Monetary Fund continues.

He however clarified that Zambia can only qualify for the IMF package once the economic recovery path becomes credible, hence the importance of the mid-year budget review to re-gain the required budget credibility.

Mr. Hamududu added that the Economic stabilization and growth recovery plan dubbed the ‘Zambia plus’ needs review and re-crafting to speak to a more robust economic reform agenda commensurate to the real magnitude of the economic problems the country is facing.

Chamanga downplays Chipolopolo return

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Former Chipolopolo striker James Chamanga has hinted that he is not open to National Team call-up.

Chamanga recently joined FAZ Super Division side Red Arrows after a lengthy stint in China and has so far scored three goals for his new club.

The striker admits he is in the evening of his career.

“I am happy to play at the age of 39. Personal discipline has been key,” he told ZNBC Television on Monday.

He has scored three goals for Arrows in less than five appearances.

“I won’t play for a long time. I want to give chances to others to play. I can only train with the national team but I cannot play,” Chamanga said.

Prior to joining Arrows, Chamanga had not played close to a year after being appointed as Technical Director at Chinese side Liaoning Kiaxin last July.

He scored over 70 goals in China when playing for Dalian Shide and Liaoning.

Meanwhile, Chamanga’s return to the home front coincides with Chipolopolo’s 2020 CHAN qualifying campaign that kicks-off in July with a second round date against Botswana.

Despite FAZ insisting they use the home-based players tournament for the development of fringe Chipolopolo players, veteran stars have played a crucial role in previous CHAN qualifiers.

Defender Elijah Tana captained the in the 2009 team that went on to finish third at the inaugural tournament held in Cote d’Ivoire while Christopher Katongo and Isaac Chansa were part of the 2016 campaign in Rwanda where the team reached the quarterfinals.

NGOCC refuses to comment on the “Video” of Mrs Mwanakatwe Circulating on Social Media(updated)

Minister of Finance Margaret Mwanakatwe
Minister of Finance Margaret Mwanakatwe

The Non-governmental Gender Organisations’ Coordinating Council has said that it have been inundated with media queries on the supposed dozing and seemingly tired Minister of Finance Mrs Margret Mwanakatwe in the recording.

In a statement relased to the media, NGOCC said that it is restrained from commenting on the video as the organisation does not have the full details of the circumstances and condition of the Minister at the time.

Reports have surfaced that points of orders were raised at the NDF as to whether it was in order for the Minister of Finance to attend the proceedings while drunk. The forum ruled that ruled that there was no evidence to prove that Finance minister Margaret Mwanakatwe was drunk in one of the meetings.

Below is the full statement

PRESS RELEASE

For Immediate Release
21st May 2019

PRESS QUERIES OVER A VIDEO OF HON. MWANAKATWE

Following the video of Hon. Margret Mwanakatwe that has gone viral on social media, we have been inundated with media queries on the supposed dozing and seemingly tired Minister in the recording.

The video appears to be related to the matter that was brought to the attention of the National Dialogue Forum (NDF) following a point of order by one of the delegates.

The Non-governmental Gender Organisations’ Coordinating Council (NGOCC) is herein restrained from commenting on the video as we do not have the full details of the circumstances and condition of the Minister at the time.

In this regard, we would like to go along with the verdict as passed by the Standing Orders of the National Dialogue Forum (NDF) which cleared the Minister of any wrong doing. It is this position we shall rely upon as the reflection of events related to the video in question.

However, in the wake of all the debates and perspectives around the matter with the Minister and similarly with other public leaders, it has always been NGOCC’s stated position that leaders, both female and male, should conduct themselves in line with the decorum of their offices. It is our expectation that public leadership should be exercised with utmost professionalism and integrity.

In the same vein, it is public responsibility to hold our leaders to account with positive criticism and fair judgement on their capacity to perform and deliver to citizens’ expectation.

We all need to transcend beyond unfair criticism and unnecessary ridicule of especially women in decision making positions at all levels and contribute objectively to the dictates of their public offices.

NGOCC has over the years bemoaned the low numbers of women in decision making positions, especially in politics. In this regard, NGOCC would like to encourage the public to support the few women leaders occupying public offices as opposed to demonizing them at the slightest opportunity.

ISSUED
for/NGOCC

Engwase B. Mwale
EXECUTIVE DIRECTOR

UPND says HH has not issued any statement in Support of Government’s action on KCM

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HH
HH

United Party for National Development (UPND) has said that the party President has not issued any media statement alleging that President applauding the liquidation of Konkola Copper Mines.

In A statement released to the media, the party said that the statement allegedly circulating on social media is s a pure branded product of lies by the ruling Patriotic Front (PF) and described it as not only malicious but deceptive, aimed at dragging the name of the UPND President into disrepute.

Below is the full statement

PRESIDENT HAKAINDE HICHILEMA HAS NOT ISSUED ANY STATEMENT ON KCM

UPND wishes to refute in strongest terms a statement making rounds on social media alleging that President Hakainde Hichilema has applauded the PF’s liquidation of Konkola Copper Mines.

The statement is a pure branded product of lies by a known political party that want to share its spoils.

The said statement is not only malicious but deceptive, aimed at dragging the name of our beloved UPND President into disrepute.

We further wish to state that, at no point in time has President Hichilema issued a statement on the happenings at KCM, this is because he believes in mutual engagements and amicable resolutions of conflicting matters.

However UPND has taken note of the action taken by Government but will only issue a comprehensive statement or party position after a thorough research and analysis.

We further wish to note that, unlike our colleagues from the Patriotic Front (PF), the UPND is an organized and coordinated party whose reactions to matters of grave concern are only made after wider consultations from various stakeholders.

Furthermore, UPND wishes to make it clear, that it will not support any action taken without consideration of the impact the move would have on the lives of the people of Zambia and the investment as a whole.

We, therefore urge all our members across the country as well as KCM management to treat that statement with the contempt and disdain it deserves.

Issued by:

Ruth Dante
MEDIA DIRECTOR – UPND

350 guests to witness this year’s Africa Freedom Day Investiture celebrations

Secretary to Cabinet Rowland Msiska chats with Acting Auditor General Ron Mwambwa and Deputy Secretary to Cabinet Patrick Kangwa during Minsters and Controlling Officers workshop on prudent Financial Management practices at Mulungushi

Cabinet has revealed that this year’s Africa Freedom Day Investiture celebration to be held at State House, will be witnessed by 350 invited guests, a reduction from the 3500 people invited in 2018.

Acting Secretary to Cabinet Patrick Kangwa has revealed in a statement made available to ZANIS in Lusaka yesterday that the development is in adherence to the on-going austerity measures.

Mr Kangwa has however encouraged members of the public to follow live proceedings of the ceremony on the Zambia National Broadcasting Corporation (ZNBC), as well as various radio stations.

He revealed that celebration will be preceded by a wreath laying ceremony, which will later climax with an investiture ceremony for honours and awards hosted by President Edgar Lungu and First Lady Esther Lungu at State House.

This year’s celebrations will be held under the theme “the year of refugees, returnees and internally displaced persons: towards durable solutions to forced displacement in Africa’’.

And Mr Kangwa has encouraged both public and private institutions that offer essential services, to ensure that measures are put in place, in order to avoid any disruption in their operations.

Coaches to blame for club failure-FAZ

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The Football Association of Zambia (FAZ) has refuted claims suggesting that some referees are incompetence and favour certain named football clubs when officiating at the Zambian football league games.

FAZ Vice President Adrian Kashala said Coaches manning the various football clubs are to be blamed for the favours that are being alleged on referees, because some club coaches collude with referees towards succumbing to match fixing.

“These accusations have led to a lot of distrust amongst coaches and players accusing each other”, he said.

Mr Kashala further added that conspiracy has led to finger pointing amongst various coaches and teams, which is both damaging and lacks professionalism on the sport.

He noted that favoritism will not be condoned if any referee is found in such a position, noting that the game should be maintained at its highest esteem and enjoyed by everyone watching.

He however revealed that the association is absorbing the public outcry, on some of the referees that are labelled as incompetent, by retraining them in July, 2019, in the view of sharpening their skills.

Meanwhile, Mr Kashala has stated that club coaches have a role to play in eradicating the cancer that they have planted in the sport, adding that have a mandate to ensure that skill and discipline is maintained by all football players.

The Decision on KCM is Final, says President Lungu as Lusaka High Court Places KCM under liquidation

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President Edgar Lungu
President Edgar Lungu

President Edgar Lungu says government is making progress in the process of dis-engaging from Konkola Copper Mine (KCM) a subsidiary of Vedanta mineral resources.

Speaking when he met representatives of the tripartite Labour movement at State House today, President Lungu said the decision on KCM is final and will be done within the confines of the law and in a consultative manner.

President Lungu has also stated that the implementation of the proposed sales tax is non reversible but that government is open to consultations on the modifications and the manner in which it should be implemented.

He also explained that government came up with the National Dialogue Forum (NDF) in order to provide stakeholders with a broader spectrum, were contentious and critical issues about national matters can be addressed.

He disclosed that he has heard people’s concerns regarding some resolutions that were made at the NDF such as the coalition government, re-introduction of Deputy Ministers and the removal of clause 189 from the constitution, which compels employers to keep retirees on the payroll until their terminal benefits are paid, among others.

President Lungu disclosed that the NDF is an going process, adding that the resolutions are not final as they have to go through parliament before he can assent to them or decline.

And President Lungu has expressed concern with the current economic situation and other fiscal constraints in the country, assuring that he will engage the Ministry of Finance and the Bank of Zambia to see how best the situation can be addressed to lessen the impact it may have on the Zambian people.

And Zambia Congress of Trade Unions (ZCTU) President Chishimba Nkole commended President Lungu, for his decision made regarding mining companies, noting that it is estimated that three billion United States dollars is lost annually through illicit financial transactions in the mining sector.

Mr Nkole said there is now need to ensure that long term measures aimed at increasing participation of Zambians in mining is put in place.

He also called on President Lungu to intervene in some of the proposals that were made at the NDF which have raised concerns among members of the public.

Earlier, the Zambia Federation of Employers Action President Stephen Sikombe appealed to government to consider implementing the proposed sales tax in the next financial year, adding if it is implemented in July 2019, it is likely to increase the cost of doing business thereby affecting the economic performance of the country.

Meanwhile, the High Court of Zambia has appointed Mr. Lungu Milingo of Messrs Lungu Simwanza and Company as Provincial Liquidator for KCM following an application by ZCCM – IH.

According to the order, the provisional liquidator will among others things have the powers to carry on the business of the respondent so far as is necessary for the beneficial of the winding up, make any compromises or arrangements with creditors, make any agreement on all questions in any way relating to or affecting the company or its assets.

The liquidator will also take possession, custody and control of all the assets of the respondent and bring or defend any action or other legal proceedings in the name of or on behalf of the respondents, dispose of assets by public tender or the most transparent manner under the circumstances, sell the real or personal property and things in action of the respondent by public auction public tender or private contract.

Part of the Presidential delegation assigned to institute the undertaking includes;

1. Mr. Lungu Milingo of Messrs Lungu Simwanza and Company,
2. Minister of Mines and Mineral Resources, Hon Richard Musukwa, MP,
3. Minister of Labour and Social Security, Hon Joyce Nonde-Simukoko,

4. Special Assistant to the President for Press and Public Relations Mr Amos Chanda,
5. Special Assistant to the President for Political Affairs Mr. Kaizer Zulu,
6. Special Assistant to the President on Economic and Development Affairs, Mr. Hibeene Mwiinga,
7. Special Assistant to the President for Legal Affairs, Mr. Sukwana Lukangaba,
8. The Labour Commissioner.

KCM takeover-Wolves smell blood

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KCM

The announced take over of KCM by the government has been greatly welcomed by the NDC. This is a call I have led as NDC President and President Lungu has merely followed. The people of Chingola and Chililabombwe have suffered enough at the hands of this investor. Vedanta resources should have actually been gone many years had Zambia been in the hands of capable and honest leadership.

The government of Edgar Lungu only took this decision because I have talked about this matter and during my recent visit to Chingola I strongly advocated for this move to take over the mine because our People were getting a raw deal and the government was clearly being taken for a ride by Vedanta. President Lungu despite being in bed with Vedanta Resources was left with no option but to succumb to the pressure I had created and he noticed the growing anger of the people.

However, what is shocking are the events that have surrounded and followed the take-over of the mine.

Firstly it’s clear the President did not want to take over this mine from his friends as can be seen from his statement at Simon Mwansa Kapwepwe Airport recently where he said that because the people are the ones who demanded that Vedanta is sent packing he would get rid of them. This was meant to show his Vedanta freinds that it was never his wish to separate with them. Hence the trickery that is now unfolding on how this ‘take-over’ is being conducted.

The President announced that the separation with Vedanta resources will be done according to the law and that he had instructed the Attorney General to commence the process. As far as we understand there is an arbitration procedure to be followed under the agreements between government and Vedanta. Alas President Lungu in trying not to be suspected by his Vedanta friends has decided to use treachery in dealing with the matter; steps in ZCCM-IH.

To our dismay, this morning we were greeted with news that the ZCCM-IH has appointed a provisional liquidator in the name of Milingo Lungu a known member of the PF legal team to be the Liquidator of the mine. ZCCM-IH is a wholly owed government parastatal. So it is without doubt that government is behind this decision to appoint this Liquidator.
We are also aware that a scheme is being hatched between the Attorney General and the Liquidator to enter into a Consent Order to preempt and defeat the arbitration process. Anyway that is Vedanta’s baby.

My concern is how the interest of the people of the copperbelt will not be served with this process and how the wolves are rounding up on this ‘carcass’.

As NDC we find this liquidation development shocking and suspicious. It’s clear that the wolves have smelt blood and they want to suck the mine assets dry and share proceeds. This is an opportunity to strip the mine by known friends of Mr Lungu who belong within the inner circle of state house. It is also interesting to note that out of all known mining experts and engineers this country has been blessed with, government decided to settle for little know PF lawyer Milingo Lungu with no proper background whatsoever in the mining sector.

2. Liquidation

So if the purpose of taking over the mine was to rescue the people of the copperbelt from Vedanta because they were not being paid on time, how does liquidation help them?

There is no doubt that liquidation is the worst option to pursue, but as indicated it is a deliberate move by those within state house to have control of the looting. This they will do by managing the Liquidator on which creditors must be paid first and they get commissions from that.
As any legal expert knows, in a liquidation their is a legal parking order on how the debts need to be settled by the Liquidator. The liquidators fees are paid first, then taxes and debts owed to statutory institutions. This will then be followed by money owed to secured creditors, usually financial institutions. We are aware that KCM owes over US$ 1.5 billion to financial institutions. So these debts to banks have to be paid second.

So where does this leave the poor sub contractor and miner? In a liquidation, payments to employees and subcontractors will be among the last to be paid.
So if the purpose of taking over the mine was to rescue the people of the copperbelt from Vedanta because they were not being paid on time, how does liquidation help them?

We are, therefore, at pains to understand how the sub contractors and the employees will be paid with this process President Lungu has set in motion using ZCCM-IH. How will this broke government look for money from the treasury to pay the miners and sub contractors when they are failing to pay salaries? How long will the miners and subcontractors have to wait now that the mine is in liquidation.
To begin with its unlikely there is any money in the local KCM bank accounts as most of these mines don’t keep liquidity here and mainly rely on overdrafts for operational expenditures. So what funds will the Liquidator use to pay creditors? In addition, auctioning of the mining equipment to raise the needed funds will be impossible because most of the mining equipment is not owned by KCM but subcontractors who actually do the mining. Simply put there will be no money to liquidate the 2 billion dollar debt that KCM currently owes. Therefore, cry our beloved people of chingola and chililabombwe because there will be no money coming soon from that mine or sale of it’s assets atleast. Unless government puts in money but we don’t see that happening. Had the government decided to nationalise the mine and appoint managers, there would be justification to get money from the treasury.
As NDC we could have opted to either

a) Go through with the legal termination process as contained in the agreements with Vedanta or;
b) nationalise the mine and appoint competent Zambians to run it until such a time a suitable investor is identified
c)or place it under receivership to carry out a business rescue operation

Overall, this a clearly irrational decision by the PF government to counter my statements and preempt our plans as NDC on KCM. But they have made a huge blunder in which the employees and the business community will suffer as there is little or no hope for them to get their benefits and payments. As far as I am concerned KCM is capable of paying the debt owing and there was absolutely no need to liquidate the mine. As NDC among the money options indicated, we would have first demanded that they settle the debt and immediately after take over the mine, appoint compentent Zambians to manage it while awaiting the identification of a suitable investor

The only likely outcome of this liquidation is that Mr. Milingo Lungu and his ‘brother’ Edgar Lungu will strip this mine of its assets and there will be nothing left and the next thing we will be told is the mine will be sold for K1 to a Chinese investor because its not worth anything! Thats how KCM was sold for a song to start with. Secondly we have seen these liquidation schemes before, they don’t work it happened in Luanshya. I cry for my People but they won’t cry for long, NDC led by Imbwili is on the way.

Dr. Chishimba Kambwili.
NDC PRESIDENT

Zambian Afropop Princess, Katongo, releases video to popular love song ‘Tinofara’

Zambian Afropop Princess, Katongo, releases video to popular love song ‘Tinofara’

The visuals for Tinofara were shot in Lusaka, Zambia by Director Ricco Jamaal of RIM Town Media.  The Music video opens with a short film in which we see Katongo and other actors before the song begins.
So far Tinofara has been downloaded over 100,000 times and has landed in the Top 10 music charts of all radio stations across Zambia.  It has received airplay in Europe,including the BBC.

Speaking about Tinofara , Katongo explained that the song was written from a personal experience and it is about lost love and dealing with unresolved feelings.  The visuals for Tinofara beautifully compliment the lyrics of the song and make it even more enchanting than before.

So far in Katongo’s career she has released popular songs such as ‘Joy Joy’ with Zambian legend JK, ‘Kiss of Life’ with Reggae artist Cactus Agony and ‘All Over Me’ with Congolese star BM (Rosalina).

With Katongo’s debut album anticipated for release at the end of the year, Tinofara certainly wets our appetites for more of what the songstress has to offer.

 

BY KAPA KAUMBA