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Consider retiring RB told

President Rupiah Banda talks to Information minister Ronnie Shikapwasha

The Movement for Multiparty Democracy (MMD) Presidential Candidate Aspirant Nason Msoni has challenged President Rupiah Banda to consider retiring from public office to pave way for those with fresh ideas adding that he does not suit in the current political dispensation.

Mr. Msoni also said the republican President should not listen to political opportunists who were endorsing him as a sole candidate for the ruling party ahead of the tripartite elections.

He said people in bad standing at the party’s convention are the ones that Rupiah Banda handpicked or erroneously nominated as they cannot win any elections in the country.

Mr Msoni described assertion by party chairman of elections Mike Mulongoti that he is in bad standing in the MMD as another scheme to allow President Banda to go through unchallenged at the MMD convention.

Speaking in a telephone interview from the United Kingdom, Mr. Msoni said the assertion should be dismissed with the contempt it deserves.

Mr. Msoni has charged that the provisions in the MMD constitution should not be misused to bar perceived opponents from contesting for positions of their choice in the party.

He said the attempt to usher in President Banda as a sole Presidential candidate for the MMD has failed.

Mr Mson said the architects of Banda’s sole candidature should desist from drawing his name in their frustration adding that his only crime was to demand the observance of democratic principals in the party.

The Presidential aspirant has,however, expressed happiness that MMD members have now realized the importance of democracy and that he is ready and confident to scoop the party presidency.
[ QFM ]

Donor countries are advocating regime change’ – Chifire

The Committee of Citizens has alleged that it is aware of maneuvers by some donor countries advocating for regime change by working towards forming a parallel organization that will work alongside the existing Zambia centre for inter-party dialogue (ZCID).

Committee Executive Director Gregory Chifire told Qfm that a new organization that would be called National Institute for Democracy (NID) is specifically formed to coordinate funding of Anti Government NGOs and political parties opposite to the ruling MMD.

Mr. Chifire has disclosed that that the opposition political parties referred to as opposed to the ruling MMD are the UPND /PF.

He said according to the information he has gathered, the new organization would be funded by the Department for International Development (DFID) adding that the opposition political parties will be getting money alongside conventional Civil Society Organizations.

Mr. Chifire has alleged that the motive behind DFID to fund the NID is targeted at the Rupiah Banda led government after the failed ill conceived corruption fight against Second Republican President Dr Frederick Chiluba.

He said some individuals at DFID have a borne to chew with President Banda for refusing to accept their demands.

And Mr. Chifire has challenged those he alleges to be involved in the ploy to come in the open and explain why DFID wants to fund another organization to champion democracy when there is already another organization formed for the same purpose.

He said his organization would continue to hold the view that the motive by DFID to fund the NID is founded on ill motive unless it is convinced that the formation of NID is necessitated by failure of ZCID to perform.

Meanwhile, Zambia Center for Inter-party Dialogue has dismissed Executive Director Chomba Chela has dismissed Mr. Chifire’s assertions as false.

Mr. Chomba has told Qfm that ZCID was created to promote, defend and consolidate democracy in the country and that he will not agree to such assertions.
[ QFM ]

Soldiers put on alert for floods

GOVERNMENT has urged defence force personnel to be on alert for emergency support to people who may fall victim to projected floods in some parts of the country.

Minister of Defence Kalombo Mwansa said Government is confident and grateful to the army personnel for helping in mitigating the impact of floods in Zambia.

“This is well within the scope of your duties as it promotes quality civil-military relations in our country,” Dr Mwansa said.

He said this during the 2010 Zambia Army headquarters officers’ annual ball at Arakan Barracks in Lusaka on on December 31.

Dr Mwansa also commended the Zambia Army for their good performance in the African Union (AU) and United Nations (UN) peacekeeping missions in other countries.

He said the peacekeeping missions have earned Zambia international respect.

Dr Mwansa commended Zambia Army Commander Lieutenant General Wisdom Lopa for his inspirational leadership.

“I commend you army commander for your recent visit to the Abeyi region of Sudan where our troops are stationed for peacekeeping duties. Your visit is a mark of visionary and inspirational leadership and has undoubtedly raised the morale of our officers deployed there,” Dr Mwansa said.

He also reiterated the need for uniformed personnel to remain neutral and loyal to the Government of the day
Dr Mwansa said a fair and balanced service is the definition of any army in a democratic country.

He said, however, that the army personnel are free to exercise their franchise and access competing parties but must do so away from political party involvement and outside official duties.

Dr Mwansa also said that Government remains committed to improving the welfare of the defence personnel.

He said the military will, like other Zambians, benefit from economic successes that Government is scoring.

“The welfare of our defence force personnel shall always remain a top priority. We are in the process of building houses for our gallant men and women in uniform,” he said.

Dr Mwansa said Government has also appointed a salaries review commission to look into conditions of service for all Government employees, including those in the military.

“I therefore urge you all to remain patient and wait for Government to study the report of the commission once it is submitted,” Dr Mwansa said.

He said that Government will also carry out another countrywide recruitment exercise of officers and soldiers next year to increase manpower levels in the Army.

Speaking earlier, General Lopa said the Zambia Army is aware of government’s commitment to uplifting the welfare of its officers.

Gen Lopa said the Army will remain steadfast in protecting the sovereignty of the country.

He also congratulated President Banda for Government’s remarkable successes in the economic and social sectors.

Meanwhile, Zambia National Service (ZNS) deputy commandant Brigadier General Nathan Mulenga has cautioned service personnel against involvement in partisan politics, especially now that the country is headed for general elections.

“There will be a lot of pressure from various political parties trying to woo you into their camps.
You are to remain professional and only be loyal to the Government of the day,” Gen Mulenga said.

He was speaking in Lusaka on the night of December 31 at an annual ball for ZNS warrant officers and senior non-commissioned officers.

Gen Mulenga said the ZNS should be robust and live up to its distinct responsibilities that include training, livestock production, crop production and industrial production.

He also said that in order to improve the welfare of personnel, the command intends to maximise the benefits that the staff derives from proceeds that are realised from production activities.

“In that regard, the command has instructed that 20 percent of the total proceeds realised after sales should go towards the welfare of men. The investment shall take the form of buying building materials to construct staff houses, building or extending existing health facilities and constructing or improving pre-schools, among others,” he said.

The 80 percent will be ploughed back in production.

[ Sunday Mail ]

Dr Kaseba returns from SA, as Sata dodges questions on who settled the bills

58

PATRIOTIC Front (PF) president Michael Sata’s wife, Christine Kaseba, says she is feeling much better and is happy to be back in Zambia after treatment in South Africa for a heart problem.

Dr Kaseba, who returned on the night of December 31, was admitted to South Africa’s Morningside Clinic for about a week at Government expense.

She returned in the company of her husband.

“I am very happy to be back home, especially that it is the New Year’s eve. I am feeling much better,” she said.

Mr Sata dodged questions on who settled Dr Kaseba’s bills, referring all queries to hospital authorities in South Africa.

“Why do you want to know who paid the hospital bills? Go to the hospital and ask them. In fact, I was expecting (Vice-President) George Kunda to be here,” he said.

Chief Government spokesperson Ronnie Shikapwasha said on January 1, however, that Government will pay Dr Kaseba’s hospital bills.

Lieutenant-General Shikapwasha, who is Information and Broadcasting Services Minister, said in an interview that Government was responsible for her evacuation.

He said every Zambian is entitled to evacuation for specialist treatment whenever need arises.

He said Government is happy that Dr Kaseba is well and back home after successful treatment.

“Government is going ahead to pay the hospital bills. We will be talking to the High Commissioner in South Africa to make arrangements with the hospital.

Government evacuated her for her treatment. Once a person is evacuated, we also pay for the entire delegation accompanying them. She is entitled just like any Zambian,” Gen Shikapwasha said.

Joyce Nonde-Simukoko praises RB’s new year message

15
Federation of Free Trade Unions of Zambia (FFTUZ) president Joyce Nonde-Simukoko

VARIOUS organisations and individuals have commended and welcomed President Banda’s New Year message on the need for peace and unity ahead of and during this year’s general elections.

Federation of Free Trade Unions in Zambia (FFTUZ) president Joyce Nonde-Simukoko said it is commendable that President Banda has spearheaded the message of peace.

Mrs Nonde-Simukoko said in an interview in Lusaka on January 1 that political leaders must ensure that they conduct themselves properly and peacefully, saying such conduct would trickle down to party members.

She urged political leaders in the country to focus on issues affecting the electorate and avoid being personal against each other.

“We would like to agree with the President because if we fight amongst ourselves it is not going to benefit anyone in this country. We would like to encourage issue-based politics, let us not discuss personalities but ideas,” Mrs Nonde-Simukoko said.

She said politicians must polish their manifestos for the campaigns.

Mrs Nonde-Simukoko also implored the labour movement to thoroughly study Government-initiated multi-facility economic zones (MFEZ) and submit their suggestions.

She said these will help enhance the quality of employment for thousands of Zambians.

National Initiative for Citizens’ Awareness (NICA) president Kelvin Sampa commended President Banda for the successes his administration has scored since 2008 and for peacefully leading the country into the New Year.

Mr Sampa said it is evident that President Banda’s administration is committed to uplifting people’s lives in the country.

He said his organisation will rally behind President Banda’s candidature in this year’s tripartite elections.

He said the resolution is a gesture of appreciation of President Banda’s successful developmental agenda.

“We need to appreciate the effort Government has done for us as a nation and we can only do it in the manner like the way we pay tithe in church. In our case our national tithe contribution to Governmnet should be done by voting for our President and his leadership in this year’s tripartite elections for a good job well done,” he said.

Committee of Citizens (CC) executive director Gregory Chifire said President Banda must be commended for the peace, unity and economic growth that the country is enjoying.

Mr Chifire cautioned opposition political party leaders against misleading the public by issuing unsubstantiated comments.

He said President Banda has demonstrated courage and good leadership by spurring Zambia’s economic growth since he assumed office.

He urged Zambians to heed President Banda’s New Year message and support his leadership to further stimulate development in the country.

[Zambia Daily Mail]

Zambia is Moving toward a De Facto One-Party State

53

By Henry Kyambalesa

Currently, Zambia can, by and large, be classified predominantly as a “repressive state,” that is, a nation-state where leaders impose sufficient repression on opposition political parties in order to keep them weak and maintain their own power, while adhering to enough democratic formalities that they might just pass themselves off as democrats.

Mildly, the country fits the description of a “criminal state,” that is, a nation-state where the government is oblivious to crimes committed by government leaders and the elite and, among other things, individuals with criminal records are appointed to positions of authority.

Zambia also temperately meets the characteristics of a “patrimonial state,” where government leaders treat the state as their own piece of property. Moreover, the country fits the description of a “collapsed state,” that is, a nation-state in which common people are generally left to their own devices while government officials revel in conspicuous, state-financed luxury.

With respect to the country’s classification as a “repressive state,” we are very likely to see our beloved country turned into a de facto single-party state if the Movement for Multi-party Democracy (MMD) continues to rule the country beyond this year. I have provided a bird’s-eye view of the bases of my conclusion below.

MMD Maneuvers:

Vice President George Kunda is apparently tasked to spearhead MMD’s onslaught on Zambia’s major opposition political parties and their leaders—the Patriotic Front (PF) and the United Party for National Development (UPND), and Hakainde Hichilema and Michael Sata. His incessant attacks and misinformation aimed at discrediting the PF-UPND pact and its leaders are unprecedented in our country’s history.

MMD leaders’ machinations against major opposition political parties are clearly and deliberately designed to impose sufficient repression on them in order to make them weak and maintain MMD’s stronghold on power. The poaching and appointments of Heritage Party, PF and UNIP members of parliament to positions of authority, and the constant invitations to members of opposition political parties to join the MMD, have the same rationale.

Constitutional Clauses:

Article 203(2) of the Constitution of Zambia (Amendment) Bill 2010 states that “Any person or group of persons who desires to form a political party shall satisfy the Political Parties’ Commission that—(a) the party shall, within a period of twelve months from the date of its registration, have party structures in at least two-thirds of the number of provinces of Zambia. And in Article 205(1), it is stated that “The purpose of the Political Parties’ Fund shall be to provide financial support to registered political parties with seats in the National Assembly.”

Political parties are apparently expected to comply with the requirement in Article 203(2) with their own resources. Unfortunately, most political parties in the country do not have adequate financial and material resources to comply with this requirement. It is, therefore, essential for the Republican constitution to provide for a level-playing field so that it does not appear to favor political parties whose founders and members have deep pockets.

Such a requirement will eventually lead to a de facto one-party state, particularly in bad economic times, when political parties fail to raise enough financial and material resources to maintain the required party structures in at least two-thirds of the number of provinces of Zambia. It also imposes a one-size-fits-all type of organization structure on political parties. Some political parties may wish to operate from a single centralized location in order to reduce costs.

The question of whether or not a political party is regional or tribal should be left to voters. Voters are not daft; they will not popularly vote for presidential candidates from political parties which appear to be regional or tribal in nature. It is, therefore, enough to require all candidates for political office to have a specified number of supporters at the time of registration.

The Public Media:

Zambians are wary of the current situation whereby large segments of the mass media are state-owned, under tight controls by the MMD government, and the rights and freedoms of individuals and non-governmental institutions are subordinate to those of the ruling party and the state.

Unfortunately, this state of affairs has greatly and unfairly enhanced MMD’s competitive advantage over opposition political parties. And the continued push for statutory regulation of the media is a clear indication that MMD leaders represent their individual and partisan interests rather than the common interests of Zambians at large.

The express desire for statutory regulation of the media and the tight controls over public media institutions by the MMD are all partly designed to shut out the opposition and create a greater and unfair competitive edge for the MMD.

The Party and Its Government:

We have a political system that allows individuals to hold government and political party positions concurrently. This has inevitably distorted the boundary between national duties and party activities, and has culminated into what is commonly referred to as “the Party and Its Government” or “the PIG” phenomenon.

And we have failed to introduce provisos in the Republican constitution which would bar national leaders from actively performing political party functions. Also, we have failed to permit the Registrar of Societies to require all political parties in the country to include a clause in their constitutions providing for duties of party members who get elected or appointed to serve in either the judiciary or the executive branch of the national government to be assumed by incumbents of other offices within the party’s administrative and management structures.

The MMD is happy with the PIG since it has made it possible for the party to dominate the political arena through public resources used by government ministers during campaigns.

Conclusion:

Our country’s nascent political pluralism is clearly on the chopping block! If we ignore the foregoing signals and vote for the MMD later this year, we will actually be voting for a move to a new version of a one-party system of government. And we will be voting for a government that has thus far proved to be insensitive to the basic needs, expectations and aspirations of the majority of Zambians.

Nearly 20 years have passed since the MMD assumed the reins of power, but we still have a healthcare system which cannot meet the basic needs of the majority of citizens; tens of thousands of Grade 7 and Grade 9 students have continued to be spilled onto the streets every year; so many citizens have no access to clean water and electricity; and a critical shortage of decent public housing has compelled so many of our fellow citizens to live in shanty townships nationwide.

Moreover, public infrastructure and services are still deficient; civil servants are still not adequately compensated for their services; a lot of civil service retirees cannot get their hard-earned benefits; crime and unemployment are still widespread; taxes and interest rates are still very high; and, among many other socio-economic ills, the constitution-making process is still fraught with personal, partisan and short-term interests.

We need to pray hard for divine intervention in the governance of our Motherland. No sleep for our beloved country!

Dream Another Dream

10

TODAY’S SCRIPTURE

“…No eye has seen, no ear has heard, and no mind has imagined what God has prepared for those who love Him”
(1 Corinthians 2:9, NLT)

TODAY’S WORD from Joel and Victoria

What are the dreams and desires that you have for your future? Maybe you had some big dreams in the past, but things didn’t go the way you planned. So you put them aside and settled for status quo. We’ve all had disappointments and setbacks, but today is a new day, and we serve a God who makes all things new!

Let me challenge you to dig deep and dare to have a big dream for your life. I always say, when one dream dies, dream another dream. Don’t just settle for mediocrity, we serve a God who is above and beyond anything we can think of, and He wants to manifest His greatness through you. Remember, there’s nothing you can dream that God can’t do. Why don’t you ask Him to bring you the right people, the right opportunities, and the right resources? Trust that He is working behind the scenes on your behalf. Dare to believe and dare to dream another dream because He desires to do big things in and through you in this New Year!

A PRAYER FOR TODAY

Father in heaven, thank You for a new day to praise Your name. I dedicate myself to You fresh and anew. Lead me in the ways of my heart; help me to find that new dream, and let everything I do bring glory to You. In Jesus’ Name. Amen.

— Joel & Victoria Osteen

Bonetti Under Fire

30

Dario Bonetti is under-fire after Zambia’s humiliating defeat against Kuwait on Friday in an international friendly in

Zambia were crushed 4-0 by Kuwait leading some to question Bonetti’s commitment to the job after only joining up with the team in Cairo from his Italian base just 48 hours before the game.

The defeat was Bonetti’s third in nine games in charge since taking up the post in July.

Bonetti has a record of four wins, three defeats and two draws with Zambia.

Former Faz committee member Henshel Chitembeya said Bonetti should have been involved with the build-up in Lusaka.

“The coach has to be involved in the preparations right from the beginning because friendly games should be give the same seriousness they deserve as a competitive international game,” Chitembeya  said.

And ZAVOSFA president Peter Makembo said the result was unacceptable and that Bonetti should quit.

“Bonetti should resign on moral grounds because we cannot qualify to the Africa cup with results like losing to Kuwait,” Makembo said.

Zambia went down to Kuwait with four first half goals from the latter who remained unbeaten in two successive meetings.

Kuwait also beat Zambia in their first meeting in 1997 in another friendly that the gulf nation won 2-1 in Kuwait City.

Xavier Chungu commends President Banda

A police officers ushers Former spy chief Xavier Chungu after he was jailed for forgery. However, Mr Chungu did not go to jail because he has served the nine months sentence from the time of arrest (File Picture)

Former director general of Zambia state security intelligence services, Xavier Chungu has revealed that he is busy in his own style campaigning for republican president Rupiah Banda.

Chungu proudly announced that he has been out to some provinces particularly Luapula province where he discussed with a cross section of residents who are happy with presidents Banda’s achievements.

[pullquote]”I am aware of people’s anxiety to know his whereabouts and how he is surviving, stating that the past is now history and will never repeat itself,” Mr Chungu said.[/pullquote]
He added that president Banda would in this year’s general elections score the highest presidential victory ever in Luapula province contrary to media reports that the province is now almost a no go area for the opposition.

In a press statement made available to QFM, Chungu said president Banda has in his two years in office scored unprecedented successes which he says have been outstanding and beyond record in the history of Zambia’s independence.

He stated that the testing period he went through made him understand the political leadership of Zambia a little more.

“I am aware of people’s anxiety to know his whereabouts and how he is surviving, stating that the past is now history and will never repeat itself,” Mr Chungu said.

He has since urged all peace loving citizens to stand bold and appreciate that Zambia today has a president and political leadership in place to take the country to greater heights.
[ QFM ]

MMD risks weakening over party presidency wrangles-Mpombo

George Mpombo

Kafulafuta MMD Member of Parliament George Mpombo has charged that the Movement for Multi-party Democracy (MMD) risks weakening because of the wrangles over the vice presidency.

Mr. Mpombo said a level playing field has not been set by the national executive committee of the party.

He said that the party should not allow provinces to declare support for the candidates as that is defeating the sole purpose of democracy.

Mr. Mpombo pointed out that the party should not be selective on people who are supposed to contest for different position during the convention.

He added that the true value of democracy in the ruling party is slowly eroding because of certain individuals in the MMD.

The Member of Parliament said that the MMD should be seen to be in the forefront of promoting democracy unlike going against the principles it was set on.
[ QFM ]

Arcades Mall expansion to gobble US$ 4 million – Lethbridge

16

Arcades Developments Managing Director Adam Lethbridge says the first phase of the expansion programme at Arcades shopping Mall will cost US$4 million.

Mr. Lethbridge says the works which are currently on-going will take about18 months to complete.

He explained that Arcades Management was still evaluating the cost of the second phase of the expansion programme which will be done during the same period.

He said Arcades is currently constructing more shops behind the mall in a bid to provide different services for its clientele.

Mr. Lethbridge was speaking in an interview with ZANIS in Lusaka yesterday.

Meanwhile, Mr. Lethbridge has described 2010 as a successful year for the mall.

But he noted that Arcades was now facing the challenge of mushrooming of shopping malls across the country which are offering similar services and have updated infrastructure.

ZANIS

Veep challenges Sata, HH over gays

109
Vice president George Kunda about to get into his official government vehicle

VICE-PRESIDENT George Kunda has challenged Patriotic Front (PF) president Michael Sata and United Party for National Development (UPND) president Hakainde Hichilema to give Zambians their position on homosexuality and gay rights.

Mr Kunda said Mr Sata has allegedly been linked to supporting homosexuality and gay rights in Zambia and it is strange that he has not denied that he wants to promote and advance the rights of homosexuals and gay people.

Mr Kunda said in Serenje on Thursday at a public rally that Zambia is a Christian nation and alien practices such as same sex relationships will never be promoted and condoned.

“With this type of leadership, Zambia will be a rogue State. I am challenging him (Mr Sata) to deny he is supporting homosexuality and gay rights in Zambia.

“Mr Hichilema has gone into an alliance with Mr Sata. Does he believe in what Mr Sata is doing? Does he also believe in homosexuality and gay rights?” Mr Kunda asked.

Mr Kunda said President Banda has condemned homosexuality and gay rights. The Vice-President alleged that Mr Sata is unpredictable and inconsistent and cannot be entrusted with the instruments of power because he cannot handle the security of the nation.

He said Mr Sata is on record giving conflicting views on investment in general, Chinese investment and windfall taxes.

Mr Kunda said President Banda has proved that he is a stable leader, which is why when he was Vice President during President Mwanawasa’s illness and death, he ensured that Zambia experienced a peaceful transition.

He said Zambia is still enjoying peace because President Banda is a father figure and is working hard for the people of Zambia.

“Unlike other leaders, he talks more about development than anything else. Even when he is outside the country, he is looking for investors to come to Zambia,” he said.

Mr Kunda said compared to opposition leaders, President Banda does not believe in tribalism but in one Zambia, one nation.

And Mr Kunda says Mr Sata does not believe in press freedom and if elected into power, he is going to close down The Post Newspaper. Mr Kunda said even if The Post covers the opposition leader well, if he comes to power it is likely to be closed down because Mr Sata is a danger to press freedom.
Mr Kunda also appealed to the people of Serenje not to support Mr Sata because he is known to campaign on tribal lines, as the case was in Kasama.

[Zambia Daily Mail]

BoZ terminates Finance Bank shareholder interest

15

From Left to Right:- Director Winlot - Joan Craven ; Chairman Winlot – Steven Malavan ; Vice Chairman Sugal & Damani – Pravin Chhedda ; Deputy Minister for Finance Govt.of Zambia – Ms Chileshe Kapwepwe ; Chairman Finance Bank Zambia – Dr. Rajan Mathani ; Chairman Sugal & Damani – N. Sugal Chand Jain ; Co-Chairman Sugal & Damani - G.N. Damani
From Left to Right:- Director Winlot - Joan Craven ; Chairman Winlot – Steven Malavan ; Vice Chairman Sugal & Damani – Pravin Chhedda ; Deputy Minister for Finance Govt.of Zambia – Ms Chileshe Kapwepwe ; Chairman Finance Bank Zambia – Dr. Rajan Mathani ; Chairman Sugal & Damani – N. Sugal Chand Jain ; Co-Chairman Sugal & Damani - G.N. Damani
THE Bank of Zambia (BoZ) has terminated shareholder interest of all the shareholders in Finance Bank Zambia Limited (FBZL).

According to a government gazette published on December 31, shareholders who include Finsbury Investment Limited, Credit Suisse Investments, Clarkwell Limited, Job Albert T Samuel, Estate of the late Pat Bwalya Puta and Patrick Chamunda, have ceased to hold shareholder interest in the bank.

BoZ concluded that in its opinion, FBZL was failing and would have continued to fail to conduct its business in accordance with the law.

In the Bank’s opinion, FBZL was conducting its business in an unsafe and unsound manner, and that it would have been unable to continue its operations in the ordinary course of business.

BoZ has concluded that FBZL had weak corporate governance and risk management systems which facilitated the perpetration of wanton violations of the provisions of the Banking and Financial Services Act (BFSA), subsidiary legislation and other regulations.

It was also noted that FBZL through its shareholders, directors or senior management, either collectively or individually, violated various provisions of the BFSA and its Statutory Instruments.

One of the shareholders, Dr Rajan Mahtani, through Finsbury Investments Limited, with shares held by nominees or otherwise, effectively controlled 56.5 per cent of FBZL’s shareholding in contravention of the 25 per cent limit.

FBZL also violated provisions of the Act by failure to act in the best interest of the bank and failure to exercise due care, diligence and skill by allowing indiscriminate approvals and granting loans to insiders contrary to sound lending practices.

FBZL failed to declare interest relating to contracts, facilities and also exposed itself to a single risk exposure of 62 per cent, among many other violations.

According to the gazette notice, the BoZ has statutory and legal authority to terminate the interests of shareholders in FBZL, with compensation to be determined by a court of law.

The gazette further states that the purported holding of shares by Finsbury, Clarkwell Limited and Mr Samuel in FBZL was characterised by complex trust and transfer arrangements whose final consequence was that the beneficial shareholding in FBZL was not that of the declared entities, but converged on the Executive Chairman of Finsbury, Dr Mahtani.

The BoZ had reason to believe that the indirect acquisition of shares into FBZL by Dr Mahtani via complex arrangements violates the provisions of the BFSA, as neither the declared shareholders nor Dr Mahtani disclosed these obscure arrangements to the bank.

BoZ in exercise of the powers contained in section 81(1)(c)(i) and (ii) of the BFSA took possession of FBZL on 10th December, 2010.

BoZ further terminated the shareholder interest in FBZL on December 22, 2010.

The decision to take possession of FBZL was made after BoZ conducted inspections on FBZL.

BoZ also conducted a due diligence inquiry in May 2010, in which all the declared shareholders, including the natural persons behind the corporate entities holding shares in FBZL, were invited to participate in person , and they informed BoZ that they were nominees for Dr Mahtani.
Relevant documents in possession of the Bank in connection with the shareholding by Mr Samuel, who did not attend the meetings, confirm that he, too, is a nominee of Dr Mahtani.

[Zambia Daily Mail]

Court stays poll verdict execution

10

Eliot Kamondo (r) with UPND leader Hakainde HichilemaTHE Supreme Court has granted United Party for National Development (UPND) Mufumbwe member of Parliament Eliot Kamondo an order to stay the execution of the judgement which nullified his election as Mufumbwe MP.

Supreme Court Judge Muyinda Wanki granted Mr Kamondo an order to stay the execution of the judgement pending hearing of an appeal.

This is in a case in which MMD losing candidate Mulondwe Muzungu has challenged the election of Mr Kamondo as Mufumbwe MP.

“Following a notice of appeal filed in the court, I hereby grant the applicant (Mr Kamondo) an order to stay the execution of the judgment pending hearing of his appeal,” Mr Justice Wanki said.

Mr Kamondo through one of his lawyers, Bonaventure Mutale, has also filed a certificate of urgency before the court.

He states that the application to stay execution of the judgment is of extreme urgency because the Speaker of the National Assembly may declare his seat vacant.

Mr Kamondo states in his notice of appeal that he is not satisfied with Mr Justice Musonda’s judgement of December 15, 2010.

In December last year, Mr Justice Musonda nullified Mr Kamondo’s election as UPND Mufumbwe MP because the polls were marred by violence and intimidation.

Mr Kamondo, however, filed an application for leave to stay the judgmenet pending his appeal against the verdict.

But Mr Justice Musonda in his ruling delivered on December 29, 2010 in chambers threw out Mr Kamondo’s application to stay the judgement.

He said there was no likelihood that Mr Kamondo’s appeal would succeed in the Supreme Court because it would mean the judgment had been undermined by the frivolous and vexatious applications.
Mr Justice Musonda ordered the Electoral Commission of Zambia to go ahead and set a date for the by-election.

[Zambia Daily Mail]

Rock crushes miner to death

Chambishi Copper Mine

A THIRTY-year-old miner in Chambishi has died in an underground accident, Copperbelt police chief Martin Malama has said.

Dr Malama said yesterday that Frank Lisulo of house number 24, Lukenge Way in Chambishi Township, who was during the night shift, was found dead yesterday morning after a rock fall at the Non-Ferrous Mining Company of Africa-run mine.

He said the next of kin had been informed and that Lisulo’s body was at Sinozam Friendship Hospital in Kitwe.

“Mr Lisulo was working night shift at 900 metres below ground level of NFCA. While working at the shaft, we have been informed that there was a rock fall which resulted in his death. His body was found this morning,” Dr Malama said.

Meanwhile, police in Kalulushi have impounded a truck laden with an undisclosed tonnage of copper concentrates suspected to have been stolen from Chibuluma Mine.

Dr Malama said the driver of the truck had been detained to help with investigations.
[ Times of Zambia ]