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A one-time rising star on the Zambia football scene has failed to impress coach Lucky Msiska who dropped the player from his 2011 All-Africa Games football tournament qualifying squad.
And Msiska has said that chances are very slim that Emmanuel Mayuka or the foreign-based players will join the team.
Nkwazi defender Kasongo Mwepya has had a brief day in the Sun as recent as last April with the Zambia national team in the CHAN qualifiers.
However he has failed to make Msiska’s team as the coach continues to trim ahead of naming his final 18 on Thursday ahead of Saturdays All-Africa Games qualifying match against archrivals Zimbabwe.
Others dropped are Olen Pepa, Misheck Zulu and Lameck Tembo.
Meanwhile, Mayuka is almost certainly ruled out but Msiska says they are still 50-50 chances that two Israel-based players Justin Zulu and Roger Kola could still join the team if they beat the Wednesday deadline.
On Wednesday, Msiska’s team will play Green Buffaloes in a training match at Nkoloma stadium starting at 15:00.
There are disagreements and small demonstrations in Mongu about the Barotse Agreement of 1964. Suddenly after 46 years of independence, under the motto “One Zambia and One Nation” and peace that is the envy of many nations, there is a threat of anarchy and disintegration of our nation. There are groups, internet web pages and blogs that have mushroomed championing secession or what some of them call “self-determination of the Malozi”. I want to express my views which I hope represent those of millions of Zambians that love the freedom and tranquility we have enjoyed since 1964.
There is a tendency for some politicians, some Zambian intellectuals, and those who are disaffected today to dismiss all those years from 1964 to 1991 as years of the “terrible Kaunda UNIP One-Party dictatorship”. What I am urging all my fellow citizens, who are 36 to 50 years old, who grew up in Zambia between 1964 and 1984 to be intellectually honest and realistic. We should criticize President Kaunda or UNIP and the One- Party State, but let’s also have some balanced judgments and reflections of the period. The 60% of our Zambian population that was born in 1985 have no idea what happened from 1964 to 1991. As a result many of them are vulnerable to exaggerations, speculations, wild guesses, myths, and becoming victims of historical revisionism and politically motivated distortions of what happened.
At Independence in 1964, the first 40 year old young President Kaunda of the young independent Zambia had in his cabinet: Ruben Kamanga, Simon Kapwepwe, Mainza Chona, Arthur Wina, Sikota Wina, Justin Chimba, Simon Kalulu, Peter Matoka, Elijah Mudenda, Nalumino Mundia, John Mwanakatwe, Grey Zulu, Lewis Changufu, and Nathy Nyalugwe. The men and women who are the founders of our nation had just gone through over ten years of the struggle for independence. Their first crucial job was to develop and unite this new Zambia that had 72 separate tribes. The vast majority of Zambians including even our leaders had known only their tribes, chiefs, kingdoms, and perhaps headmen in rural villages in separate regions of Zambia.
Zambians should know that nation building is very difficult and messy. The leaders built new roads, hospitals, political administrative systems, clinics, University of Zambia, hundreds of schools, teachers had to be trained, provided free education for all Zambians, and they adopted the national policy of a non-racial and non-tribal society. At this same time there was the crisis of the Alice Lenshina’s Lumpa Church and the religious violence in Northern and Eastern Province just before independence in 1964. White minority Rhodesia (Zimbabwe) and the crisis of the Unilateral Declaration of Independence (UDI) happened on November 11 1965, the Portuguese colonialists in Angola and Mozambique were trying to destabilize Zambia. White apartheid South Africa was interested in destroying Zambia or any black newly independent countries in Southern Africa that did not support the apartheid racist regime at the time. Namibia was occupied by hostile South Africa. The South African National Congress (ANC) had just been banned. Nelson Mandela had just been sent to prison for life. There were some threats of violence within Zambia. If you do not believe this just read: “Night Without a President” by Sikota Wina.
Should this have been the time the new sovereign nation of Zambia should have been worrying about the Barotse Agreement? All the freedom fighters from all parts of Zambia were right to focus and spend all their energies on developing and uniting Zambians to be one Zambia and One Nation.
I will forever be grateful that I and millions of Zambians had a free education from Form I (grade 8) all the way to the University of Zambia up to my Ph. D. I lived in Zambia as a free child all my life. This was due to the people of Zambia under One Zambia and One Nation and the leadership of President Kaunda, UNIP, and all the freedom fighters including Harry Nkumbula, Simon Kapwepwe, and many other heroic men and women. Whatever the disagreements they had, in the end they did what was most important for the nation of Zambia: they kept the nation together and provided security. At that time, some or any of them could have rebelled, seceded with their local Chiefs or Kingdoms as some few advocates of the Barotse agreement are now saying, or joined colonial outsiders to fight the new fragile state of Zambia to kill fellow Africans.
What is causing this talk of secession and the Barotse Agreement of 1964? There might be genuine frustrations about problems of development of certain areas of the country. But I also suspect that many Zambians have no idea what it takes to build a nation. When many of us who are educated, have access to the computer, might live abroad, have enjoyed freedom most of our lives, we begin to be bored and take the peace for granted. Ordinary Zambians today at home, including many educated foreign scholars in Zambia and abroad, make the mistake of assuming the many political parties, open debate, and freedom of the press we have today should have been there or created in Zambia in 1964 or 1967. But that’s unrealistic, being intellectually, and historically dishonest.
I would urge my fellow educated Zambians or the elites who are furiously circulating the Barotse Agreement of 1964 document to really begin to document and write books about what really happened from 1964 to 1991; both the negative and especially the positive. It is very easy to create rosy web pages and post articles that may have exaggerated and incendiary claims about the intentions of our founders who are now close to 80 years and some of whom have already been called by the lord. The discussions and debate about the Barotse Agreement of 1964 should be done in an open democratic fashion probably through a commission of inquiry. But all peace loving Zambians from all corners, tribes, regions, ethnic groups, and those abroad should lock hands and arms together in unity as One Zambia and One Nation. Those few Zambians who advocate any type of violence, treason, and collude with outsiders to achieve narrow selfish ambitions and interests should be arrested and tried in the courts of law and punished. The peace and tranquility we enjoy as Zambians is too precious.
END of ARTICLE
ABOUT AUTHOR: Mwizenge S. Tembo obtained his B.A in Sociology and Psychology at University of Zambia in 1976, M.A , Ph. D. at Michigan State University in Sociology in 1987. He was a Lecturer and Research Fellow at the Institute of African Studies of the University of Zambia from 1977 to 1990. During this period he conducted extensive research and field work in rural Zambia particularly in the Eastern and Southern Provinces of the country. Dr. Mwizenge S. Tembo is Professor of Sociology who has taught at Bridgewater College in Virginia in the United States for twenty years.
Dr. Tembo has authored 4 books: Titbits for the Curious (1989), Legends of Africa (1996), The Bridge (Novel) (2005), Zambian Traditional Names (2006). He is spearheading the building of a Zambia Knowledge Bank Libraries: Nkhanga Branch Village Library in Lundazi District in his native country of Zambia in Southern Africa. He is a weekly columnist for the Daily Newsleader Newspaper of Staunton in Virginia. He is a frequent column contributor to the Daily News-Record of Harrisonburg in Virginia. He was also a frequent contributor to the Sunday Times of Zambia in the 1980s. He has published at least 100 newspaper columns. He is a freelance photographer who has sold many of his works. For more details: www.bridgewater.edu/~mtembo, www.bridgewater.edu/zanoba
Dr. Tembo has also published at least 15 scholarly articles, 21 book reviews, and 10 journalistic articles.
Trolley dash...A woman leaves Shoprite Manda Hill during the Christmas shopping time
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Some women providing a Christmas gift wrapping service at Arcades shopping centre in Lusaka
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Some women entrepreneurs providing a Christmas gift wrapping service at Arcades shopping centre in Lusaka
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Some Lusaka residents captured inside the new look Manda Hill shopping mall in Lusaka
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Some Lusaka residents captured inside Spar Store during the Christmas shopping period
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President Banda interacts with a mother and her baby at Chipata Clinic in Lusaka
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People of Kaoma District are complaining over the poor drainage system that is now affecting buildings. The Council is said to be oblivious to this problem as they are not doing anything about it.(Sent by Kaoma resident)
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Health Minister Kapembwa Simbao presents a gift to a mother and her baby at the University Teaching Hospital in Lusaka
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Health Minister Kapembwa Simbao looks at one of the Christmas babies at the University Teaching Hospital in Lusaka
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Defence Minister Kalombo Mwansa presents a Christmas gift to a patient at Maina Soko Military Hospital
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An woman displays her Christmas gifts for sale at Arcades shopping centre in Lusaka
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Bank of Zambia Zambia Governor Caleb Fundanga during the opening of the Indo Zambia Bank Manda Hill branch
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An aerial view of the Lusaka central business district
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President Banda congratulates new Sports deputy Minister Brian Sikazwe at State House
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Ministry of Science and Technology Permanent Secretary Criticles Mwansa and Milenge Dictrict Commissioner Rosemary Malutu inspect a garden at Milenge Trades Training Institute.
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Ministry of Science and Technology Permanent Secretary Criticles Mwansa about to present a computer to Milenge Trades Training Institute principal Dorothy Siame
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(corrected)The women in Solwezi district removing Cassava from a drum in readiness for drying before its pounded into mealie-meal(ubunga bwa tute)
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Stranded passengers along Chingola-Solwezi Road after the Minibus they were in had a tyre burst
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Kisasa area along Solwezi -Mwinilunga road in Solwezi district
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Christmas in the village, the youths are preparing meals in a hut in Jiwundu area
Zambezi District Commissioner (DC), Bisalom Luwaile, has appealed to the management of Libya African Investment Portfolio (LAP) Green Networks formerly Zamtel, to expeditiously restore telephone lines in Zambezi district in North Western Province.
Telephone lines in Zambezi district have not been working for over a month now, a situation that has crippled communication through telephone, fax, and internet facilities.
ZANIS reports that Mr. Luwaile observed that LapGreen is a major communication system which Government departments, business houses and other stakeholders relied on to get in touch with the whole country and the world at large.
He said the current situation had impacted negatively on development activities in the district and people had been left in the dark about events in the country.
Mr. Luwaile further asked the Lap Green management to extend Cell Z facilities to Zambezi district commending the company’s mobile phone services as affordable.
He also lauded other mobile phone service providers such as Airtel and MTN for operating in the district.
He said without these mobile phone service providers, the entire district would have been without any means of communication.
Ndola based High Court Judge Fulgence Mwenya Chisanga has called on Government to address challenges the Judiciary, Immigration Department, and Prisons services were facing in Luapula Province.
Justice Chisanga said there was urgent need to address challenges the departments were facing to improve the speedy dispensation of justice in the Province.
The Ndola based High Court Judge was speaking today during the ceremonial opening of the High Court Session for Luapula Province.
Justice Chisanga said the Judiciary still faced a critical shortage of Magistrates with only ten out of the 22 needed in the province as per establishment.
She said the province required magistrates to speed up the dispensation of justice as the few that were there were over loaded with work leading to inevitable delays in the disposal of cases.
Justice Chisanga has also called on relevant authorities to address the problem of transport in the Immigration Department.
She said the Immigration Department was facing transport difficulties as the department had no vehicle in the province.
Justice Chisanga said lack of transport in the department made it difficult for the Immigration Officers to reach remote areas especially Kaputa and Nchelenge which borders the Democratic Republic of Congo (DRC).
She further said this made it impossible to monitor illegal immigrants who sometimes obtained National Registration Cards (NRC).
Justice Chisanga also said the illegal immigrants easily went back to their countries of origin when they committed an offence defeating the course of justice.
She said such loopholes should be effectively sealed by the provision of transport to the Immigration Department.
Meanwhile, Justice Chisanga has expressed concerns on the state of prisons in the province.
She said Mansa, Nchelenge, and Samfya Prisons were still congested adding that the structures were also old.
Justice Chisanga further said most of the prisons continued to face water problems except for Nchelenge, which used tap water.
She called on relevant authorities to quickly address these problems so that inmates stayed in the prisons as humane as possible.
And Justice Chisanga has appealed to respective authorities to address challenges being faced by female inmates.
She said some female inmates have infants who were kept in prisons while others delivered in prisons.
She observed that there was need to provide facilities to cater for such situations.
And Luapula Province Prisons Service Regional Commanding officer, Richard Phiri said there was a total of 745 inmates in the province.
He said Mansa had 225 inmates, Nchelenge prison, 196, Samfya 144, Kawambwa 66, while Mwense had 84 inmates.
Mr. Phiri, who described the overall situation in prisons as calm, however, said the prisons were congested because structures were built a long time ago to cater for only a few people.
He described the state of prisons as dilapidated and appealed for the construction of new prisons.
Mr Phiri also said the shortage of transport and fuel at the provincial prisons department was making it difficult for officers to take accused persons to court.
Dr Kenneth Kaunda's son Panji at Dr Kaunda's ersidence in Lusaka's Kabulonga township.
GOVERNMENT has dismissed predictions that this year’s general elections would be the bloodiest ever, describing the prophecy as an attempt to threaten peace and security.
And Foundation for Democratic Process (FODEP) has described the statement from Colonel Panji Kaunda as irresponsible and alarming.
Minister of Home Affairs Mkhondo Lungu said in an interview on Janaury 3 that political leaders predicting doom are only trying to frighten voters and the international community.
“It is unbelievable that Col Kaunda can issue such frightening statements when other leaders are denouncing violence,” Mr Lungu said.
Col. Kaunda was on January 3 quoted saying Zambia will experience bloody violence if Government does not put measures in place to stop it.
Mr Lungu said he did not expect political leaders like Col. Kaunda to promulgate violence and anarchy.
Mr Lungu said all political leaders should start preaching peace to their followers instead of threatening violence.
He said Col. Kaunda as a former member of the defence and security wing of the country should have known better about the implications of his statement.
Mr Lungu said the police has been preparing for the elections and is ready to ensure that voting is conducted in a free atmosphere.
“I think the statement from Col. Kaunda puts the security and peace of the country at risk. Political leaders should not predict doom but urge their supporters to conduct themselves peacefully during campaigns and voting,” Mr Lungu said.
He said the statement has the potential to frighten voters from exercising their right to vote.
He said as Minister of Home Affairs, he would ensure that a peaceful atmosphere is guaranteed so that all political players can conduct their political campaigns without fear of intimidation and violence.
Mr Lungu said that anyone predicting violence will be proved wrong during elections and that losers should be ready to accept the results of the poll.
“Politicians should not make the work of the police difficult. Col. Kaunda knows that the country should be protected from both internal and external threats,” Mr Lungu said.
Mr Lungu said he is pleased that some political leaders have joined President Banda in preaching peace and unity in Zambia.
He said he has heard Patriotic Front spokesperson Given Lubinda talking about the need to conduct the elections in a peaceful environment.
And FODEP president Stanley Mhango said it is not necessary for political leaders to resort to alarming the nation because Zambians have always been peaceful people.
[pullquote]“To say that the 2011 general elections will be the bloodiest is a very irresponsible statement coming from a senior security official. There is no need to alarm the nation. Zambians have been a peaceful people but this does not mean that law enforcement agencies will relax,” Mr Mhango said.[/pullquote]
Mr Mhango said on January 3 that the violence Zambia witnessed during last year’s by-elections could not be used as a barometer for what is to come.
He said in instances where there have been pockets of violence, it has been concentrated within political parties and not the general public.
“To say that the 2011 general elections will be the bloodiest is a very irresponsible statement coming from a senior security official. There is no need to alarm the nation. Zambians have been a peaceful people but this does not mean that law enforcement agencies will relax,” Mr Mhango said.
“We have made economic strides and it will be irresponsible for any leader to endanger the gains because of political ambitions. The biggest challenge is for the media to be responsible and exercise restraint to avoid unnecessary tension,” Mr Mhango said.
Meanwhile, ZANGOSE CHAMBWA reports that MMD spokesperson Dora Siliya has condemned Col. Kaunda’s statement.
Ms Siliya said yesterday that Zambians have no time for violence.
She said Zambians are not interested in politics of doom because they do not add value to the wellbeing of the economy.
Ms Siliya said Zambians have become more discerning and the only thing that matters to them is what the future holds in terms of their welfare.
She said politicians should not utter words which are not healthy to the democracy of the country.
“Politicians should engage in issue-based campaigns, not careless talk because we only have one Zambia and no one wants to see bloodshed,” she said.
Bank of Zambia of Zambia governor Caleb fundanga (right )
By Enock Ngoma
THERE are many issues that the courts will determine in the matter of possession of Finance Bank Zambia, by the Bank of Zambia recently.
But aside from the court battles around this matter, the dust is finally clearing and the public is slowly piecing together the picture of what the central bank has presented as the reasons that compelled it to take possession.
It is clear from the outset that the news that Bank of Zambia (BoZ) had taken possession of Finance Bank Zambia Limited on December 10, 2010 obviously caused shockwaves among many, especially the shareholders in the bank, depositors and of course the general public.
It is not yet clear that the shareholders have responded to the emerging details of alleged violations found by the central bank following the various inspections at Finance Bank. The reasons advanced by the Bank of Zambia are now common knowledge, after the release last week of a Government gazette on the possession.
The shareholders have chosen to exercise their rights and taken the matter to different courts of law in different towns, and the merits of the actions they have taken, and may choose to take in future, will be determined by the courts of law. What have beena matter of enduring public interest since the announcement of the take-over are two questions: Was the BOZ starting a process of “nationalising” Finance Bank Zambia? Secondly, was Finance Bank Zambia hurtling towards closure?
Starting with the second question, the following observations have been made: The prophets of doom were hysterical about a phantom run on Finance Bank, even in the face of evidence that the bank was operating normally. They were incessant about what they predicted would be a run on the bank that would eventually lead to closure and that this would result in eroding the people’s confidence in the country’s banking system.
Nothing of this sort has happened because from the day of take-over, Finance Bank is operating normally at all of its over 30 branches and agencies that are widely spread around the country.
Finance and National Planning Minister Situmbeko Musokotwane and Secretary to the Treasury, Likolo Ndalamei alerted the nation to the structural reason why the much prayed-for run on Finance Bank could not materialise – close to 80 per cent of the more than K3 trillion deposits in the bank were from Government departments, ministries and agencies, with the balance being private companies and individual depositors.
The K250 billion being reported as signal for the run on the bank was, therefore, a small portion of those deposits. The hysteria displayed by these doomsayers, therefore, must have been caused by something other than their concern about the purported run. Further facts may emerge in this saga.
Anyone who has read the ruling MMD manifesto and followed Government policies since 1991 must have chuckled at the embarrassment caused by this assertion. A Government that has conducted such an extensive privatisation campaign cannot justify nationalising a private bank, especially after privatising Zambia National Commercial Bank, which had previously been in its hands. Some group must have been playing with what they regard as the gullible masses!
[pullquote]Finance and National Planning Minister Situmbeko Musokotwane and Secretary to the Treasury, Likolo Ndalamei alerted the nation to the structural reason why the much prayed-for run on Finance Bank could not materialise – close to 80 per cent of the more than K3 trillion deposits in the bank were from Government departments, ministries and agencies, with the balance being private companies and individual depositors. [/pullquote]
When announcing the take over of the bank, BoZ Governor Caleb Fundanga said the move was with the full approval of the BoZ directors based on the inspection findings at the bank and in a bid to protect the interests of depositors and other creditors of the bank and to ensure stability of the banking sector in Zambia.The seizure was also decided upon to protect Finance Bank from further damage which had been created by shareholders, directors and senior management staff who had failed in their duties to comply with the law, good governance and management practices.
To ensure that the take-over was smooth and that Finance Bank should not close, the central bank, after extensive consultations with, among others, central banks in the region and the Zambian Government, was assured by the Zambian Government that it would be a guarantor. This simply meant that whatever amount of money would have been withdrawn by big depositors, it would not have an effect on the bank’s liquidity as the Government, as guarantor, would have ensured that adequate funds were available in the bank at all times.
Fortunately, the matter did not even go that far because the BoZ, after taking over and putting in its own appointed management team, has ensured that operations to date are normal and all the anxiety has now simmered.
Like Dr Musokotwane aptly put it, “Finance Bank should now be considered to be in the safest hands and would be handled professionally to allow it to grow and maintain the many branches that it has throughout Zambia.”
Earlier, former Finance Minister Ng’andu Magande had asserted that following the possession by BoZ, Finance Bank was headed for closure.
But Dr Musokotwane brushed these sentiments aside, saying that Mr Magande was playing politics on a matter that required expert views and facts to avoid misleading the Zambian people.
Assuring the nation that closure was not among the options on Finance Bank, Dr Musokotwane urged Mr Magande and other critics to remember that Finance Bank was collecting huge sums of money on behalf of the Government in terms of taxes at most border points.
“The Government would, therefore, be the last to accept the closure of Finance Bank which has been paying its dues to the Government. It can be true that some banks taken over by the central bank have collapsed but this cannot be true for a viable entity like Finance Bank. This bank will not close,” the minister said.
Dr Musokotwane said it should be made clear that the owners of Finance Bank did not own the money held by the bank but it was owned by depositors who needed maximum protection. “Bank take-over is not politics. It happens everywhere in the world. It has happened in the United States, in the United Kingdom and even here in Zambia. There is nothing strange because the idea is just to protect the depositors,” he said.
Simaata Simaata, a well-known banker in Zambia and former director at Finance Bank, said according to the laws on banking, Finance Bank was found wanting and, therefore, the move taken by BoZ was in the best interest of the nation and the customers.
Even the Christian Coalition supported the move taken by BoZ with its spokesperson John Mwendapole advising depositors to have confidence in the decision taken by BoZ as it would curtail unethical activities that would have led to serious consequences for depositors and the national economy.
Director of bank supervision at BoZ Lameck Zimba said insider borrowing involving some shareholders, directors and senior management was one of the main reasons that necessitated the take-over because depositors’ monies were not safe.
[pullquote]Dr Musokotwane said it should be made clear that the owners of Finance Bank did not own the money held by the bank but it was owned by depositors who needed maximum protection.[/pullquote]
“If people are giving themselves huge loans in excess of billions of Kwacha, without the approval of the board which are not being paid back, then there is a big problem in that bank. There were several other unsafe and unsound banking practices that left us with no choice but to take possession of the bank.
“What we did not want was to have a repeat of what has happened in the past where by the time we move in, the bank was beyond redemption. That is why we promptly moved in. “And in fact, this was after Finance Bank failed to furnish us with information on various breaches of the law,” he said.
But last week, the public was given the most detailed and extensive rendering of the case that compelled the BoZ to take possession of Finance Bank Zambia. An Enforcement Decision and Order published via a Government Gazette Notice number 97 explicitly spelt out the breaches discovered at Finance Bank that led to the take-over and eventual termination of shareholder interests.
Giving the rationale for the termination of shareholder interests at Finance Bank, the Government Gazette Notice dated December 31, 2010 and signed by secretary at BoZ Mathew Chisunka said the purported holding of shares in Finance Bank by Finsbury, Clarkwell Limited and Mr J A T Samuel was characterised by complex trust and transfer arrangements whose final consequence was that the beneficial shareholding in the bank was not that of the declared entities but converged on the CEO and executive chairman of Finsbury Rajan Mahtani.
The BoZ had reason to believe that the acquisition by Credit Suisse of 40 per cent shareholding stake in Finance Bank appeared to be a lending transaction because of the underlying agreements that were not disclosed to BoZ. Among other things, these agreements guaranteed a return to Credit Suisse on their investment.
As a result of these matters, Finance Bank and certain of its shareholders had violated several pertinent provisions of the BFSA and other regulations in a manner that constituted unsafe and unsound banking practices.
The BoZ considers that the approvals given to certain shareholders to hold shares in Finance Bank were obtained by fraudulent misrepresentation and this necessitated the BoZ to withdraw its approvals on June 4, 2010 in respect of certain shareholders.
Giving the rationale for possession, the BoZ said other than failing and continued failure, and weak corporate governance coupled with risk management systems, Finance Bank through its shareholders, directors or senior management, either collectively or individually, violated various provisions of the BFSA and its Statutory instruments (SI). These included:
Section 23 (2) (Limitation on voting control) -Dr Mahtani, through Finsbury Investments Limited, with shares held by nominees or otherwise, effectively controlled 56.5 per cent shareholding in contravention of the 25 per cent limit.
Section 35 of the BSFA (disclosure of Interest) – failure to disclose interests relating to contracts, facilities, proposed contracts or facilities with Finance Bank.
Section 33 (conduct of directors, chief executive officers and managers) where these failed to act in the best interest of Finance Bank and failure to exercise due care, diligence and skill by allowing indiscriminate approvals and granting of loans to insiders contrary to sound lending practices.
Section 73 of the BFSA and SI 96 on limitations of granting of loans exposed Finance Bank to a single risk exposure of 62 per cent being an exposure in excess of the statutory limit of 25 per cent of regulatory capital as evidenced by the aggregate exposure of three borrowers, who were Zambezi Portland Limited, Cladava Mining and Ital Terrazzo as a common enterprise.
Section 77 on unsafe and unsound banking practices where the bank’s lending relationship with insider companies departed from sound lending principles and breaches of banking regulations. In addition, management repeatedly failed to comply with the provisions of the law and recommendations from previous inspection reports.
Section 52 , breach on credit administration as it failed to keep required credit information on credit files.
Section 36 (a) and CB circular 01/2009 on submission of prudential return where the bank was issuing false or misleading statements through returns, especially on insider loans classification and provisioning.
Finance Bank was in breach of regulation nine of SI 97 of 1996 (insider lending) in which it failed to maintain, adduce or procure board resolutions and supporting credit appraisal documentation to evidence participation by other board members in the approval of the loans to all insiders as prescribed.
It was in breach of regulations 17 (I) and 18 (I) of SI 142 (classification and provisional loans) as it failed to classify non-performing loans and advances as required by regulation 17 (I) and as a result the bank’s provisions fell short of the minimum provisioning requirements as provided for in regulation 18 (I).
The bank failed to maintain, adduce or procure an effective loan review system, thereby violating regulation 5 (I) of SI 142 (classification and provisioning of loans).
The Gazette Notice concluded that the shareholders, directors and senior management, whether acting individually or collectively, perpetuated breaches of various provisions of the BFSA, other applicable legislation and statutory instruments and that the shareholders, directors and senior management, whether acting individually or collectively were, therefore, not fit and proper persons to discharge their responsibilities in the best interest of Finance Bank.
With the foregoing, the BoZ decided to take prompt remedial measures through possession. The characterisation of this action as nationalisation, therefore, appears to have been an attempt to politicise this action, while the hysterical prediction of a run, and possible closure of the bank, must have been meant to mask facts which may be known sooner than later.
The United Party for National Development (UPND) on the Copperbelt has said it is disappointed over the revelation that the party’s pact partners, the Patriotic Front (PF) has formed a shadow cabinet at a time when the two parties should have been discussing joint participation in this year’s elections.
Copperbelt Province chairperson Elisha Matambo said in Ndola yesterday that if it was true that the PF had selected people it wanted to be part of the cabinet after the 2011 polls without involving the UPND, that would be unfortunate.
He said although UPND members felt sidelined following reports on the PF shadow cabinet, they were still hopeful that the pact was the only way to dislodge the MMD from power.
“We still feel that the PF should come out in the open and prove that the shadow cabinet is not there, apart from demonstrating that they are committed to the success of the electoral pact. Otherwise, there is no smoke without fire,” Mr Matambo said.
He said although UPND was campaigning on its own, its leadership was still hopeful the UPND-PF Pact would stand so that the ruling party gets a credible challenge from the two opposition parties.
[pullquote]“We still feel that the PF should come out in the open and prove that the shadow cabinet is not there, apart from demonstrating that they are committed to the success of the electoral pact. Otherwise, there is no smoke without fire,” Mr Matambo said.[/pullquote]
Mr Matambo, in a contradictory stance, said the UPND was focused on winning the 2011 elections, and that the party leader Hakainde Hichilema had rolled out a comprehensive campaign programme.
He said Mr Hichilema had not gone into hiding as suggested by Vice-President George Kunda recently, but he was busy campaigning.
And UPND national youth coordinator Brian Hapunda has said PF president Michael Sata does not have enough political muscle to wrestle power from President Rupiah Banda because his popularity rating has waned.
Mr Hapunda said in Lusaka yesterday that the shadow cabinet announced last week lacked seriousness and could not shake the ruling party.
He said PF was riding on its past glory even when it had failed to grab seats from the ruling party in the last two years after the presidential elections that saw Mr Sata come second.
Mr Hapunda said UPND had been gaining popularity and had won seats which were previously held by the MMD, while PF had failed to do so and had even lost some wards in in its strongholds such as Luapula Province.
He said the mature leadership provided by Mr Hichilema was responsible for the survival of the pact that was formed in June 2009 with the sole purpose of unseating the MMD.
[ Times of Zambia ]
A woman has died at the University Teaching Hospital-UTH after she was involved in a road accident along Mumbwa road opposite Petroda Filling Station.
The accident which happened this afternoon involved a truck registration number AAK 4614 and a Toyota Caribu registration number ABE 9262.
A ZNBC news crew that rushed to the scene found the front part of the Toyota Caribu extensively damaged and irate residents had set the truck ablaze.
Police Spokesperson Ndandula Siyamana confirmed the death of the woman to ZNBC in a telephone interview and identified the deceased as Margaret Chibeya of Lusaka West.
Ms. Siyamana said the accident happened when the driver of the truck which was coming from Lusaka West direction hit into the Toyota Caribu which was going the opposite direction.
Ms. Siyamana said the other person who was with the deceased in the Toyota Caribu has not been identified and is currently admitted at UTH, while the truck driver is on the run.
[ ZNBC ]
Road Development Agency (RDA) casual workers working on collapsed culvert along Maamba/Batoka road at Sinakasikili (File Picture)
MChief Malama’s area in Mambwe district of Eastern Province has been cut off from the rest of the district following the collapse of culverts after heavy rains.
District Commissioner Philimino Banda told ZANIS in an interview that the chiefdom which is in the valley area was cut off from Mambwe.
Mr Banda explained that a number of culverts have collapsed following heavy rains.
He stated that the recent road rehabilitation by Rural Roads Unit (RRU) did not include reconstruction of culverts despite the Malama road having a number of streams.
“You need to find out if it has been raining before you go to the area otherwise you get stuck, the culverts are collapsed” he said.
The area becomes impassable and in need of food aid during rainy seasons.
Lucky Msiska’s Under-23 side has received a boost with the arrival in camp of Zambia international defender Emmanuel Mbola ahead of the All-Africa Games qualifier against Zimbabwe.
Zambia will host Zimbabwe this Saturday in Lusaka in a Maputo 2011 preliminary round, first leg in Lusaka.
Mbola trained with the team on Monday just 24 hours after arriving from Egypt with the senior national team where Zambia lost 4-0 to Kuwait in a friendly international in Cairo on Friday.
The TP Mazembe wingback is the first of six foreign-based player’s call-up for the All-Africa Games qualifier.
Msiska is hoping Emmanuel Mayuka, Fwayo Tembo, Justin Zulu, Chisamba Lungu and Roger Kola will be able to make it by the Wednesday deadline.
Meanwhile, also returning to the team from senior team duty was Zanaco midfielder Simon Silwimba who was also in Cairo although Red Arrows defender Jimmy Chisenga has been ruled out due to injury.
A police officers ushers Former Zambia Intelligent 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)
MMD acting national secretary Chembe Nyangu has said former Zambia Security Intelligence Services (ZSIS) director general Xavier Chungu is free to publicly declare his support for President Rupiah Banda.
Mr. Nyangu said in an interview yesterday that if Mr Chungu was volunteering to support President Banda he would just be among many Zambians who were willing to do so.
Mr. Nyangu said many progressive Zambians had expressed willingness to support President Banda because of the various development projects being implemented in different parts of the country by the Government under his leadership.
“Mr Chungu is just one of the people who have declared support for the president and the MMD Government. Otherwise there are a lot progressive and focused Zambians who want to get involved in developing the nation by supporting the MMD,” he said.
He said it was unfair for some opposition leaders to start condemning Mr Chungu for publicly expressing his intention to support President Banda’s candidature during this year’s elections.
Mr. Nyangu said Mr Chungu was a free Zambian who was merely expressing his opinion and should not be harassed for supporting President Banda and the MMD.
Patriotic Front (PF) secretary general Wynter Kabimba was quoted in yesterday’s THE POST newspaper as saying that it was shameful for Mr Chungu, who he said had court cases, to act as President Banda’s re-election campaign manager in Luapula Province.
Mr. Nyangu said it was not true that Mr Chungu was the MMD’s 2011 Luapula Province campaign manager.
“The MMD has not appointed any campaign manager because this is not the time for election campaigns,” he said.
Mr. Nyangu said Mr Chungu did not have any position in MMD and his support for President Banda was purely on voluntarily basis.
In a statement released on Saturday Mr Chungu commended President Banda for the manner in which he has ruled the country in the last two years and has called on Zambians to extend Mr Banda’s mandate as Republican president in this year’s general elections.
He said because of the achievements scored by the MMD Government under President Banda he was proud to formally declare his full support for him in this year’s polls.
And Ndola District MMD chairperson Victor Konie has said there was an increase in the number of people rejoining the ruling party while a number of UPND-PF pact members who had shown willingness to rejoin the ruling party were currently holding talks with the local MMD leadership.
Mr. Konie said the MMD was engaged in talks with some grassroots based members of the UPND-PF pact at grassroots level.
He said it was not true the people who were defecting from the UPND-PF pact in Ndola and other surrounding districts were not bonafide members of the opposition.
“The truth of the matter is that as MMD leaders, we are busy recruiting new members and most of these are the people who had over the years left the ruling party but they were now returning after seeing the development projects being implemented by President Banda,” Mr Konie said.
ZAMBIA under-23 national team coach Lucky Msiska is optimistic of beating Zimbabwe in January 8’s Maputo 2011 All-Africa Games qualifier.
Msiska said in an interview after the morning training session at Independence Stadium in Lusaka on January 2 that his technical bench is optimistic of a positive result when the two regional rivals meet in the first leg of the All-Africa Games qualifier.
He said Zambia will not underrate Zimbabwe and that the game will be tough looking at the rivalry that exists between the teams.
“Morale in camp is very high, players are enthusiastic and we are confident of beating Zimbabwe,” he said.
Msiska is, however, still having a headache choosing the final 18-man squad, saying all the players have the ability to deliver and will tread cautiously when naming his final team.
“We decided to give it three more days before we make the final team because all the players are good. We want to pick the best players,” he said.
Msiska said chances of having foreign-based players in his squad are very slim and that he will depend on the local players that are readily available for the match.
The under-23 technical benches had initially named the Israel-based duo of Justin Zulu and Roger Kola and were also hoping to have Switzerland-based striker Emmanuel Mayuka and defender Emmanuel Mbola of TP Mazembe.
[pullquote]“Morale in camp is very high, players are enthusiastic and we are confident of beating Zimbabwe,” he said.[/pullquote]
“We don’t have any response from the clubs up to now, so chances of having these players available are very minimal. We will make do with the available locals.
Actually, they are equally good. Competition in the team is very high. That’s even why we are having headaches making a final team,” he said.
Msiska, who lauded his technical bench, said he is optimistic Zambia will qualify for the All- Africa Games in Mozambique this year.
Zambia finished fourth in the last two editions of the quadrennial games held in Abuja and Algiers respectively.
“We have to ensure we qualify and we can strategise on the finals after we qualify. To us, every game is important. We will take all the games seriously and we will not underestimate any opponent,” he said.
The team is also scheduled to play Rwanda in the London 2012 Olympics qualifiers in March.
Meanwhile, five new players have been drafted into the Zimbabwean national Under-23 squad ahead of the match against Zambia.
Dynamos defender Augustine Mbara, Kiglon midfielder Devon Chafa, Monomotapa’s Russell Madamombe, Charles Mutero of Shooting Stars and Lengthens’ Stephen Matsangaise have been roped in to replace the foreign contingent who had been targeted by the coaches.
According to the Herald, the Young Warriors, who were expected to begin camp at the ZIFA Village, rejected the facility and opted to come from their homes and use their own resources for transport.
The players cited the poor conditions at the Mt Hampden complex where water and electricity is a big problem.
Young Warriors coach Friday Phiri and his assistant Darlington Dodo had named the foreign contingent of Kaizer Chiefs star forward Knowledge Musona, the Ajax Cape Town duo of Tafadzwa Rusike and Khama Billiart, Pretoria University’s Mathew Rusike, TP Mazembe forward Darryl Nyandoro and France-based Ovidy Karuru but have not reported for camp as they are yet to be released.
Only Mathew Rusike from Jomo Cosmos has turned up for camp but his availability is still subject to confirmation by his new club.
It is not clear whether Zimbabwe Football Association would be comfortable with having the players come from their homes especially in view of the fact that some of them are from outside Harare.
Team manager Wellington Mpandare could not be drawn into discussing the issue but only spoke of the players who had reported for training.
And the Football Association of Zambia (FAZ) says the Chipolopolo’s loss to Kuwait is a wake-up call to the technical bench ahead of the Africa Cup of Nations qualifier against Mozambique in March.
And national soccer team assistant coach Lucky Msiska says strategising for the 2012 Gabon/Equatorial Guinea African Nations Cup qualifier against Mozambique should begin now.
Zambia were on Friday annihilated 4-0 by Kuwait in an international friendly at Dreamland Sports Complex in Cairo.
Meanwhile, the national team returned from Egypt yesterday without coach Dario Bonetti and his assistants who have gone back to Italy.
FAZ treasurer Kelvin Mutafu was speaking in an interview at Lusaka International Airport.
Mutafu, who was delegation leader, said the team did not perform to expectations and this will serve as a wake-up call to the technical bench to work on the flaws.
“The outing was fantastic although we suffered a heavy defeat and the loss could be attributed to lack of fitness and fatigue. We will however continue to give the team quality friendly matches.
“We all know that the game against Mozambique is a must-win for us…anything short of that will put our qualification in jeopardy,” he said.
The Chipolopolo will face Mozambique in a Group C qualifier on March 26 in Maputo.
He said the team that travelled to Egypt was the best that FAZ could assemble since the friendly was played on a non- FIFA day.
“We did what was expected of us, that is getting the available players who are on recess. It was going to be difficult to get our best players since the game was on non-FIFA day.
Mutafu refused to comment on the absence of coach Bonetti and his three aassistants.
“As for the coach (Bonetti) and his assistants, they are not with us,” Mutafu said.
Bonetti, who went back to Italy after the game, only joined the team on Wednesday evening ahead of Friday’s game.
Zambia is courting Poland, Belgium and Ivory Coast for an international friendly next month to prepare for the qualifier against the ‘Mambas’ of Mozambique.
Msiska said in an interview in Lusaka on January 2 that the Chipolopolo have little time to prepare for the crucial qualifier, hence the need to begin strategising.
“We don’t have enough time. Strategising for Mozambique should start now,” he said.
On the 0-4 loss to Kuwait, Msiska said lessons are picked from such losses and that the Chipolopolo should not lose focus.
He, however, said the loss was too much, as Zambia had not suffered such a humiliating defeat in a long time.
“The loss was just too much. It is the first time in a long time we have lost like that but it’s through such losses that you learn. We now have to think of how we can improve especially that we have a qualifier coming up soon,” he said.
Msiska said it is important to ensure the team is well organised for the Mozambique outing.
On the selection of players for the Kuwait friendly, Msiska said most of the foreign-based players could not make it to Egypt because of club commitments.
The friendly match against Kuwait was played on a non-FIFA date and clubs have the right to hold on to their players if the match does not fall within the FIFA calendar.
Msiska, who drilled the team before departure for Egypt, said most of the foreign-based players were not available for the match and had to be replaced by the locals.
Among the foreign-based players that were available for the match are the South Africa-based trio of Kampamba Chintu, Joseph Musonda and Isaac Chansa who are regulars in the Chipolopolo.
Others are Rainford Kalaba and Emmanuel Mbola both of TP Mazembe.
Head coach Dario Bonetti joined the team in Egypt a day before the match.
[ Zambia Daily Mail ]
Dario Bonetti was a no-show today when the last group of Zambia national team players returned home from Cairo.
Expectations were high that the Italian will travel to Zambia with the team this morning together with the second group of players from Cairo where Zambia lost 4-0 to Kuwait on December 31 in a friendly international.
The first bunch of players comprising mostly of foreign-based players landed in Lusaka on Saturday.
However, the team that arrived on Sunday was accompanied by only the Faz delegation leader Kelvin Mutafu and team manager Lusekelo Kamwambi.
Bonetti is said to have flown back to his Italian base from Cairo just after the friendly match.
The Italian-born coach has been under-fire following the defeat after he only joined the team on the eve of the game played in Egypt.
Bonetti has been away from Zambia for over three weeks after the team returned from the Cecafa Senior Challenge Cup tournament in Tanzania where his side reached the quarterfinals.
He later set-off for Europe on what was expected to be a technical mission to observe the performance of his Swiss-based players Emmanuel Mayuka and Fwayo Tembo.
