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South Africa’s FirstRand (FNB) has anounced that it had received formal notification from Zambia’s central bank over the termination of a $5.4 million deal to acquire Finance Bank and would comply with the directive.
“FNB has agreed to this request, and provided the process is within Zambian law, we will continue to engage with BOZ (Bank of Zambia),” it said in a statement.
According to the press statement issued by FNB’s Dr Michael Jordaan, “FNB has now received formal notification that the Bank of Zambia (BOZ) will not proceed with the proposed transaction previously agreed with BOZ, to sell to FNB selected assets and liabilities of Finance Bank of Zambia (FBZ).”
“BOZ have confirmed that they no longer require the services of the FNB staff who were seconded to BOZ to manage FBZ in December 2010, and have taken back the day to day management of FBZ”, read the statement.
The statement continued by saying that BOZ had indicated that they wished to enter into a process with FNB to terminate the existing legal agreement relating to the proposed transaction. FNB has agreed to this request, and provided the process is within Zambian law, we will continue to engage with BOZ.
“The FNB staff seconded to Bank of Zambia are in the process of returning to South Africa. In the meantime FNB Zambia remains committed to growing its current greenfields operations and will continue to focus on supporting its staff and servicing its customers, ” the statement comcluded
Bank of Zambia seized Finance Bank from its shareholders in 2010 for legal violations, including questionable loans. Finance Bank’s chairman has said the seizure was politically motivated.
Zambia will scrap a levy on fuel used to fund strategic reserves, which will now be the sole responsibility of the government, Energy Minister Christopher Yaluma said on today.
“The onus of holding fuel will go into the hands of government. The government will take that risk and will ensure that we do not have shortages. Right now the government has ensured that storage facilities are built across the country,” Yaluma told a media briefing.
He said as a result, the price of petrol would drop to K 8,155 Zambian per litre from K 8,647 a litre while that for diesel would be reduced to K7,566 per litre with effect from midnight.
Bank of Zambia has officially reversed the $5.4 million sale of Finance Bank to South Africa’s FirstRand on today, returning the bank to its previous shareholders.
The move was expected after newly elected President Michael Sata said this week he would stop the sale of Finance Bank to South Africa’s second-largest lender, in his latest move against the policies of the previous administration.
The central bank seized Finance Bank from its shareholders in 2010 for legal violations, including insider lending. Finance Bank’s chairman has said the seizure was politically motivated.
The Bank of Zambia said in a statement that Finance Bank had been handed back to previous shareholders as of today , and that it would continue normal operations.
Information, Broadcasting and Tourism Minister GIVEN LUBINDA
Information, Broadcasting and Tourism Minister Given Lubinda said that Defence Deputy Minister Panji Kaunda qualifies to be nominated in his position.
Commenting on the media reports that Col Panji Kaunda did not qualify to serve as member of Parliament at a Press briefing in Lusaka yesterday, Mr Lubinda said that Col Kaunda’s issue of being bankrupt was addressed when the Former President Kenneth Kaunda paid Hybrid Poultry Farm Limited the amount Colonel Kaunda owed.
Mr Lubinda advised the media that it was important to carry out research on the matter before publishing any story relating to Col Kaunda.
Earlier this week, the Foundation for Democratic Process (FODEP) Executive Director McDonald Chipenzi said that the appointment of Colonel Panji Kaunda as Member of Parliament and deputy defence minister, contravened article 65 (1)(b) of the constitution because he was declared bankrupt by the courts.
Mr Chipenzi went on to explain that article 65 (1)(b) stated that a person shall not be qualified to be elected as a member of the national assembly if that person is an undischarged bankrupt, having been adjudged or otherwise declared bankrupt under any law in force in Zambia.
The FODEP executive director called on republican President Michael Sata to either reconsider Colonel Kaunda’s appointment or disclose to the nation that Colonel Kaunda is no longer a bankrupt person.
Colonel Panji Kaunda was declared bankrupt by the High Court of Zambia in January 2004 for owing Hybrid Poultry Farm Limited K121,703,436.
Minister of Information, Broadcasting and Tourism Given Lubinda
ZAMBIA National Broadcasting Corporation (ZNBC) director-general Eddie Mupeso has been replaced by veteran journalist Joe Chilaizya, with immediate effect.
And Government has appealed to workers countrywide to be calm as Government makes efforts to improve conditions of service.
Minister of Information, Broadcasting and Tourism Given Lubinda disclosed during a press briefing in Lusaka on October 6 that Mr Mupeso’s contract has been terminated.
Mr Lubinda said he has also removed director of programmes Reuben Kajokoto and replaced him with former ZNBC employee Kenneth Maduma.
The minister said Mr Kajokoto will remain in the institution and directed Mr Chilaizya, who was present at the press briefing, to find him another position within the institution.
He said he will soon make broad statements on what will happen at the Times of Zambia and Zambia Daily Mail and the public will be told whether the decisions will also include change of management.
“I have decided to relieve Mr Eddie Mupeso of his position as director-general of ZNBC. The reasons for these changes are known by members of the public who have raised concern at the way the institution is being run.
“Government hopes that ZNBC can start to operate as a national broadcaster. I implore Mr Chilaizya to do whatever shake-up is required because there may be some stumbling blocks,” Mr Lubinda said.
He said the changes have been made in the interest of the Zambian people.
Mr Chilaizya said soon after his appointment that he was grateful to Government for the appointment and that although he has a big challenge, it will be made easier because the PF government is set to free the media.
And Mr Lubinda has explained that deputy Minister of Home Affairs Panji Kaunda is qualified to be nominated as member of Parliament because he was not declared bankrupt, as reported by some media institutions.
The minister explained that according to court record number 2003/HPC/175, former President Kenneth Kaunda settled the debts that his son Colonel Kaunda was owing Hybrid Poultry Farm and that the matter has since been disposed of.
On agitations for better conditions of service, Mr Lubinda said persistent strikes are not progressive and urged workers to engage their employers on the work environment.
He said he understands that Zambians now feel liberated but that work stoppages are not the way forward.
[Zambia Daily Mail]
THE ruling Patriotic Front (PF) on the Copperbelt says it will next week petition election results in the four rural constituencies it lost to the MMD last month.
And former MMD secretary for women affairs Maureen Lungu has resigned from the opposition party to join the PF.
The PF plans to petition election results for the Lufwanyama, Mpongwe, Masaiti and Kafulafuta parliamentary seats.
The PF won 18 parliamentary seats out of the 22 on the Copperbelt.
PF Copperbelt provincial chairman Rebby Chanda said in an interview in Ndola on October 6 that the ruling party has discovered irregularities in the election results for Mpongwe, Masaiti, Lufwanyama and Kafulafuta constituencies.
“There were a lot of anomalies in the election results of the four constituencies. We intend to petition the results by next week,” he said.
Mr Chanda also said the ruling party has devised a plan to reorganise itself in the four rural constituencies.
He said the PF will tour Mpongwe, Lufwanyama, Masaiti and Kafulafuta to strengthen its structures.
“We have made inroads but we want to strengthen our structures in the rural parts of the Copperbelt. In the next five years, we will be more popular and stronger in rural Copperbelt,” he said.
Mr Chanda also said Zambians have high expectations of the PF Government and urged local authorities to play a big role in spearheading development.
“People’s expectations are high, we need not disappoint them,” he said.
He called on PF members to remain focused and kick-start the ruling party’s agenda of delivering development within 90 days.
Mr Chanda said the ruling party is keen to see the development of not only the Copperbelt but all parts of the country.
Meanwhile, the PF on the Copperbelt has thanked Copperbelt residents for their overwhelming support in last month’s tripartite elections.
Mr Chanda said it is now time for political parties to focus on national development because the campaign period is over.
Mrs Lungu said at a media briefing yesterday that she has decided to join the PF because she is convinced that the ruling party is capable of fulfilling the progressive promises it has made in the last 10 years.
She said the PF, through President Sata, has already started implementing some of the promises as can be seen from the decisions he has made in the first few days he has been in office.
“During his campaign trail, Mr Sata promised that he will restore the dignity of Zambians in the eyes of foreigners, especially investors who, for a long time, subjected our brothers and sisters to pathetic conditions of service. The President has clearly fulfilled this, going by the pronouncements he has made so far,” Mrs Lungu said.
She said she is happy with the firm stance President Sata has taken on the fight against corruption, to save public resources.
During her defection in Lusaka yesterday, Mrs Lungu said as a founder member of the MMD, she agrees with Chisamba member of Parliament Moses Muteteka that the MMD was hijacked by people who did not have the party’s interest at heart.
“These are the same people who became blind to reality and could not listen to what people were saying about the MMD’s style of governance, especially in the last days of its rule. With these hijackers still at the helm of the MMD, the party has truly lost direction and I cannot continue associating myself with a political organisation without a vision,” she said.
Mrs Lungu called on every patriotic Zambian to support President Sata in his quest to build a better country.
She also thanked Mr Sata for appointing some women as ministers, permanent secretaries, and to other key-decision making positions.
Mrs Lungu appealed to the opposition MMD and UPND members of Parliament not to frustrate the PF’s programmes but offer constructive criticism which will stimulate national development that every Zambian desires.
“Let us forget our differences and focus on working together as a united family so that we can leave a better Zambia for our children and generations to come,” she said.
[Zambia Daily Mail]
Zambia’s Ukrainian based Soul Artist- Ariel was the main attraction at the Nigeria Independence Bash in Kharkov, Ukraine
The Soul Singer sang immediately after the speech read on behalf of The President of Nigeria addressed to all Nigerians on this special day. The Soul Singer, known for his live performances sang his Song Woman, an appreciation song for all women (mainly mothers). The smooth melody caused a quiet atmosphere as people paid attention to the strong lyrics and great vocals. This was followed by a great applause from the crowd. He was the guest artist at this event.
Watch the performance below.
He is aiming at spreading his music world wide, this is just the beginning.
Minister of Information, Broadcasting and Tourism Given Lubinda
Zambia has lifted a ban on metal exports, just two days after imposing it to sort out irregularities and increase transparency , a minerals ministry official said on today.
Newly elected President Michael Sata has been concerned — analysts say with good reason — that copper exporters are misreporting the amount of ore leaving Zambia. Earlier this week Zambia suspended export permits to put new guidelines in place.
Sata said last week all export payments would need to be routed via the central bank, a move seen as adding more oversight to an industry providing the life blood of the economy.
“The suspension has been lifted. The job has been done. We don’t need 10 years to do the job,” Godwin Beene, mines permanent secretary, told Reuters.
Information minister Given Lubinda told reporters another reason why the suspension was lifted was because it would take time to come up with new guidelines.
The mines ministry initially said it would need until Oct. 16 to put new measures in place, but mines were able to resume loading trucks on Thursday, logistics sources said.
The chamber of mines, which represents foreign miners, welcomed the lifting of the suspension.
“It was too long and was definitely going to hurt the mining companies. With this reversal the impact will be minimal,” said Frederick Bantubonse, its general manager.
“We haven’t been given the reasons for the reversal, but we can all guess,” he added.
Details of the new procedures were not immediately clear.
“The new measures will come into effect when the Bank of Zambia is ready. For now exports will continue to be guided by the existing Mines and Minerals Development Act,” Beene said.
Government says the high price of internet connectivity in the country is a hindrance to promoting research.
Education and Vocational training Permanent Secretary Andrew Phiri was speaking in Lusaka at the kick off policy of the Zambia Research Educational Network-ZAMREN.
Mr Phiri says the Information Communication and Technology -ICT-sector is key to advancing research and education in the country.
He however says the optic fibre backbone being rolled up by the private sector will enhance the development of the ICTs.
Earlier University of Zambia vice Chancellor Stephen Simukanga said ZAMREN will partner with regional research network Ubuntu net in improving education research in Zambia.
[ZNBC]
Libya’s coach Marco Paqueta has said Zambia have been lucky throughout the qualifiers and must now face their destiny.
Paqueta’s side is the only unbeaten team in Group C and beat Zambia 1-0 in the first leg on October 10 last year in the first leg meeting in Tripoli.
“It will be a difficult match,” Paqueta said. “They (Zambia) have collected full points from weaker teams only and we collected full points from them.”
The Brazilian said despite his side being one point behind Zambia, the pressure was on their hosts in front of their home crowd to deliver the results.
Zambia have 12 points, Libya 11 while Mozambique and Comoros are on 4 and 1 points respectively heading in the final round of games on match day 6 this weekend.
Meanwhile, Libya arrived quietly the country this morning ahead of Saturday’s big Group C qualifying clash against Zambia.
The Libyans arrived three hours behind scheduled on a charter flight when they landed just after midnight at Simon Mwansa Kapwepwe International airport.
Libya was earlier expected to arrive at 22:00 hours.
High Court Judge Patrick Matibini is the new Speaker of the National Assembly.
Dr Matibini polled 78 votes against UPND Vice President Richard Kapita’s 77 votes, in an election held in Parliament Thursday morning.
Lundazi MP Mkhondo Lungu is the new Deputy Speaker of the house after going through un-opposed.
And Chasefu MP, Chifumu Banda has also gone through unopposed for the position of Deputy Chairperson of Committees of the whole House.
Clerk of the National Assembly Doris Mwiinga who was the returning Officer, declared the three Parliamentary Presiding Officers duly elected.
Ms Mwiinga says there was no spoilt or rejected ballot.
And Dr Matibini says he will submit himself to the will of the Members of Parliament.
He has described his new task as a tremendous challenge while promising to be an impartial guardian of the rights and privileges of all Members of Parliament.
Meanwhile, Vice President Guy Scott says Dr Matibini is best suited for the Position of Speaker.
Dr Scott has expressed confidence that Dr Matibini will preside over the affairs of the house with impartiality.
And President Michael Sata has thanked all Members of Parliament for demonstrating unity of purpose in ensuring that the Speaker in elected.
President Sata said this at State House when he swore in Judge Matibini as Speaker of the National Assembly.
The President has asked the new speaker to exhibit impartiality when presiding over the affairs of the house.
President Sata has also sworn in Deputy Speaker Mkhondo and Deputy Chairperson of the Committees of the whole house Chifumu Banda.
The President has also thanked Chief Justice Ernest Sakala for allowing one of his Judges to be elected Speaker.
President Sata further expects no problem with Deputy Speaker Mkhondo Lungu and Mr Chifumu Banda because they have vast experience in parliamentary business.
Meanwhile The Southern African Centre for Construction Resolution of Disputes-SACCORD- has welcomed the election of High Court Judger Patrick Matibini as Speaker of the National Assembly.
SACCORD Executive Director Lee Habasonda says Dr. Matibini is suitably qualified for the position.
Mr. Habasonda has told ZNBC News by telephone that Dr. Matibini is a unique choice for the post because he understands the law and has demonstrated his passion to protect human rights.
He says his organisation is happy that Dr. Matibini who is past SACCORD Chairman is now Speaker of the National Assembly.#
Patriotic Front (PF) mobilization committee member Susan Sikaneta says the party is confident that President Michael Sata will be able to change the corrupt governance system within 90 days.
Ms. Sikaneta told QFM that President Sata is a good leader who has shown commitment to developing the country and uplifting the living standards of its citizen.
She notes that President Sata has a track record of being a hard worker from the time he served as cabinet minister in the Chiluba regime.
Ms. Sikaneta has since appealed to the Zambians to give the new government time to address the issues affecting them.
LOCAL Government, Housing, Early Education and Environmental Protection Minister, Nkandu Luo has said the Government has disbursed K65.5 billion Constituency Development Funds (CDF) to 91 constituencies in the country.
Speaking in Lusaka yesterday during her inaugural Press briefing at her office, Prof Luo, who was flanked by her deputy Esther Banda and senior directors, said CDF was meant to finance all micro projects and benefit communities.
She said the Government would soon disburse K42.4 billion to the remaining 59 constituencies as part of the Patriotic Front (PF) Government’s continued efforts to empower communities.
“As PF Government, we have an onerous task ahead of us, that of serving the public and we need each other’s efforts to succeed in delivering on our noble goals.
“So far my ministry has disbursed a sum of K65.5 billion to 91 constituencies and we are remaining with a balance of K42.4 billion to be disbursed to remaining 59 constituencies across the country,” she said.
Prof Luo said a budget provision of K108 billion was approved as CDF by Parliament in the 2011 national Budget under her ministry for disbursement in equal allocations of K720 million per constituency to all the 150 constituencies in the country.The minister has also directed the local authorities to take over the running of markets and bus stations.
She said the Government would ensure that Markets and Bus Stations Act No: 7 of 2007 was fully implemented.“It is high time we brought sanity in markets and bus stations so that we can improve the environment in which traders are operating,” she said.
Over the years, Prof Luo said, it had been difficult to re-invest money collected from market and bus stations because power to run such facilities was usurped from local authorities.
She said the measures that the Government had put now would result in improved provision of clean and safe drinking water, better sanitary facilities and solid waste management, and reduced incidences of diarrhoeal diseases. Prof Luo also directed all local authorities to immediately stop issuing permits to operators of car washes.
“I am hereby directing all local authorities to stop issuing permits to operators of car washes until a full audit has been conducted,” the minister said.
She said there was need to put in a regulatory framework that should set minimum standards and procedures for construction and operation of car washes. On increased street vending, she said, the ministry would set up a multi-sectoral task force on street vending to see how best the issue could be addressed. The ministry was also undertaking public outreach activities with various stakeholders.
She said there was need for the Government to clean up cities like Lusaka which had witnessed an influx of street vendors and increased outbreak of cholera during the rain season.
Prof Luo said some parts of the country like Lusaka experienced floods due to limited drainage systems and blockage of existing drainages as a result of indiscriminate garbage disposal.She said her ministry would give priority to addressing problems of drainages in Lusaka such as Kanyama and Bombay drainages to facilitate free flow of storm water.
Meanwhile, all mayoral elections for city and municipal councils would be held on Saturday at 10:00 hours while elections for district council chairpersons and their deputies would take place on Sunday.
Prof Luo said the new councillors who were elected last month had constituted a new council and were eligible to hold mayoral elections on October 8, 2011. She said the new mayors and their deputies would be installed the same day.
[Times of Zambia]
THE Food Reserve Agency (FRA) has said about 46% of the 96, 596 tonnes of maize was soaked by rains on Tuesday in its depots on the Copperbelt but has assured that maize which will not go to waste.
And the FRA has so far bought maize worth more than K125 billion from farmers on the Copperbelt since the maize buying exercise started in mid July this year.
Provincial marketing coordinator, Simon Phiri told the Times in an interview that the maize would not rot because the rains did not persist and that it would dry out within three days of sunshine.
Mr Phiri said he had given directives to his officers to compile the exact figure of the quantity of maize which was soaked by the rains.
He said the FRA on the Copperbelt had moved 55% of the maize to the three holding depots in Chambishi, Kalulushi and Chingola which had good storage facilities.
Mr Phiri said his office was making efforts to procure more tarpaulin tents to cover the maize because the initial tents the province received had run out due to the huge amount of maize which was bought from the farmers.
He said some of the maize was marooned in some areas because transporters were failing to collect it due to the dilapidated state of the roads.
“But we have worked out a special rate for transporters in order to encourage them to go to the areas where the roads are not good so that the maize can be brought to the depots,” he said.
Mr Phiri said the FRA had paid out about K83, 978, 900, 000 billion cash to the farmers in the province and would soon release money to liquidate the balance before the next farming season.
Meanwhile, the Zambia National Farmers Union (ZNFU) on the Copperbelt has appealed to FRA to put in place measures that will ensure that the maize harvest is secure.
Copperbelt region coordinator Mr Michael Zulu said it would be unfortunate to allow the bumper harvest which had been recorded in the country to go to waste because storage facilities had not been erected.
He said the maize should not be allowed to go to waste because even some neighbouring countries were looking to Zambia for importation of surplus from the extra maize harvest.
“I have been to Kanyenda and Bwembelo depots in Mpongwe district, the maize there is soaked and the FRA has no dryers on the Copperbelt to help the maize dry out,” he said.
