Posts in category: Uncategorized

By SANFROSSA MBERI
MAKEBI Zulu has described the summoning of Jonas Zimba, Lusaka lawyer by the Anti-Corruption Commission (ACC) as nothing but an act of intimidation, amounting to contempt of court.

By Nation Reporter
THERE were no assets pledged as collateral by the former administration, the Patriotic Front (PF) when it obtained loans, Minister of Finance Situmbeko Musokotwane told Parliament yesterday.
And Dr Musokotwane told the House that the Kwacha was going to gain more and become stable against major convertible currencies because of the debt restricting.
Responding to a question from Chama North Member of Parliament (PF) Yotam Mtayachalo, after he presented a ministerial statement on the debt restructuring, Dr Musokotwane said there were no assets pledged by the PF.
Mr Mtayachalo asked the Minister of Finance what collateral Government had attached to the debt-restricting process.
“While debt restructuring brings in a lot of benefits such as improved cash flow and avoiding forfeiture and bankruptcy, it has also has also got some disadvantages. Has the Government attached any particular assets to this debt?” he asked.
Dr Musokotwane said on the debt that the Government had required there was no pledge of assets.
“We have looked through the debts that were acquired by the PF Government, there was also no asset pledge that we have seen. So, the fear that we have is not warranted,” the Minister said.
Dr Musokotwane said the new dawn administration had decided to proceed with Lazard and other advisors which were procured by the PF so as not to disrupt the process of debt negotiations.
“We found this arrangement in place …rather than disrupt things, it was prudent to proceed. If something was working, whether it came from UNIP, MMD, PF we will work on it if it is good,” Dr Musokotwane said.
He said this in response to Kabwata MP (UPND) Andrew Tayengwa who wanted to know if the new dawn administration was going to re-negotiate the US$ 5 million settled for the former administration the PF for the services of the French financial company.
And in his statement, Dr Musokotwane said the debt restructuring secured by the Zambian Government delivered to close to a 40 percent of reduction of the country’s debt.
“On June 22, 2023, France, China, and South Africa (as deputy chair) and the IMF [International Monetary Fund] and World Bank stood with us. It has been a challenging journey …Lazard and other advisors also stood by us. Thanks to President Hakainde Hichilema his visionary leadership. This is the upward direction of development of the country. We appeal to people’s support,” he said.
Dr Musokotwane said because of the debt restructuring, Zambia would receive more support from the IMF and the World Bank.
Meanwhile, Minister of Foreign Affairs and International Relations Stanley Kakubo told the House in a Ministerial Statement that President Hakainde Hichilema represented Zambia well during his trip to Ukraine and Russia with other African leaders in a bid to broker peace.

By NATION REPORTER
KONKOLA Copper Mines Plc (KCM)’s Nchanga Smelta has been shut down for 21 days to facilitate repairs works following a molten metal leakage from one of the furnaces.

…if the UPND thinks it is an omnipotent government, it will be saddened when Zambians will rise to defend their cherished democracy, says Emeritus Archbishop Telesphore Mpundu
By Nation Reporter
OCiDA has cautioned that the continued arbitrary arrests, abductions and brutalizing of opposition political leaders and members may compel Zambians to rise against the UPND government in protest against authoritarianism.

Florian Busmann used to enjoy sausages and steak on the barbecue in summer, but these days he prefers meat substitutes and grilled vegetables like aubergines and peppers.

By BUUMBA CHIMBULU
ZAMBIA’s successful renegotiation of the sovereign official bilateral debt under the G20 framework sets in motion the process of availing local businesses access to fairly priced capital, says the Chamber of Mines.

By GRACE CHAILE
A SUCCESSION dispute has erupted among the Bemba, with Chief Chikwanda suing Senior Chief Nkula seeking a permanent injunction restraining the latter from interfering in the affairs of the Chikwanda chiefdom.

By LUCY PHIRI
CHRIS Zumani Zimba and three others have been committed to the High Court on three counts of aiding of terrorism, possession of terrorism articles, and procuring of terrorism articles.

…Dante Saunders says President Hichilema has no intentions of lifting the immunity of his predecessor.
IT has never been the intention of President Hakainde Hichilema to have the immunity of his successor, former President Lungu lifted so he could be prosecuted, Dante Saunders has said.

For many people, the day doesn’t start until their coffee mug is empty. Coffee is often thought to make you feel more alert, so people drink it to wake themselves up and improve their efficiency. Portuguese scientists studied coffee-drinkers to understand whether that wakefulness effect is dependent on the properties of caffeine, or whether it’s about the experience of drinking coffee.