PRESIDENT Hakainde Hichilema has commended Indo Zambia Bank (IZB) on the construction of the State of Art Corporate Head office, stating that the achievement is as a result of value of working with others.

Mr Hichilema has encouraged the bank to continue working in the trajectory of working with others, as the results yield bonds to stand a test of time.

The Head of State has further encouraged IZB and other financial lending institutions to reduce the cost of money loans, so that more citizens can have access.

Mr Hichilema speaking during the opening of the new IZB bank Head office at the corner of Addis Ababa and Great East Road in Lusaka commended IZB and the entire stakeholders for investing well by opening a state of the art branch.

“The value or working together brings different attributes to the country as we can see from Indo Zambia Bank. I want to encourage the bank to continue on that trajectory on bringing many different facets together. Thank you to stakeholders for investing and growing the seed” he said.

He implored citizens at large to also emulate IZB by working on investing like they have done.

Mr Hichilema further encouraged and implored IZB to continue supporting small businesses and others through their packages stating that such will help grow the country through Public Private Partnership.

He also encouraged citizens that when they have access to capital, they should not rush to buying luxuries , but should instead invest to see the investments stand a test of time.

Meanwhile, Mr Hichilema has said there is no such thing as miracle money, which is why citizens should work hard and diligently as seen by IZB.

“There is no such thing as miracle money. I do not agree. We need to work diligently. Some citizens develop habits of running for miracle money, but that should not be,” he said.

India’s High Commissioner to Zambia Ashok Kumar in reiterating the strong relationship between the two countries said that the Indo Zambia Bank building is one of the strong examples.

“Indo Zambia Bank is a strong example of strong bilateral relationship between Zambia and India,” he said.

He also stated that India is seeking to grow more partnerships with Zambia, with a milk processing and manufacturing company being in the pipelines.

And Indo Zambia Bank Board Chairperson Dr Michael Gondwe commended all stakeholders present for being part of the banks win and further reiterated the banks commitment to the best and quality service delivery.

(Mwebantu, Tuesday, 6th June, 2023)

ECONOMIC Freedom Fighters (EFF) leader Kasonde Mwenda has been taken to court to explain why he allegedly escaped from Lusaka Central Police Station in March this year.

This is another charge but this time, he is jointly indicted with 21 other accused persons.

Mr Mwenda and 21 others are charged with unlawful assembly.

Allegations are that on March 10 this year, the accused, with intent to carry out some common purpose, jointly conducted themselves in a manner aimed at causing people who have assembled to breach peace.

The other accused person in this matter are George Mumbi, 30, a student, businessman Zenis Daka, 28, Bwembya Mulenga, Bale Suzo aged 41 and Ibrahim Mwamba, Joseph Lungu, 20, a general worker, Danny Kalenga, 35, Nathan Kamau, 27, both businessmen and Gift Nguni, a general worker.

Changala Siame, 38, all businessman and Anthony Mwanza, 48, a technician, Gilbert Njobvu, 22, a businessman, Bwalya Katongo, 29, a businessman, Victoria Malauni, 24, a farmer and Coaster Museke, 27, a general worker.

The matter was called today but the accused persons were not before court.

The accused persons are expected to take plea before the Lusaka Magistarte Court on a later date this week.

(Mwebantu, Tuesday, 6th June, 2023)

THE Ministry of Finance and National Planning has quashed rumors making rounds on social media regarding the alleged disappearance of K65 million forfeited to the Anti-Corruption Commission (ACC) by Faith Musonda.

In a statement, the Ministry of Finance and National Planning clarified that it issued an instruction to the ACC on February 25, 2022, requesting the transfer of the forfeited funds to the consolidated account (Control 99) at the Bank of Zambia, both in Zambian Kwacha and United States Dollars.

The ACC subsequently transferred the funds on  March 3  2022.

“Last year, the ACC, representing the Government of the Republic of Zambia, launched two bank accounts where forfeited assets were to be deposited. The accounts were divided into two categories, one for deposits in Zambian Kwacha and the other for deposits in United States Dollars.

“A handover ceremony was held on February 23, 2022, where Ms Musonda forfeited a total of K65, 332, 446 million and US$ 57, 950 to the ACC. The event saw then Acting Director General (Commission Secretary) Mr Ivor Mukwanka present a symbolic cheque to the Minister of Finance and National Planning, Hon Dr Situmbeko Musokotwane, MP. In response, the Finance Minister issued a dummy cheque to the Minister of General Education Hon Douglas Siakalima, MP.

The Ministry of Finance said the ceremony was attended by several senior Government officials, including the Auditor General Dr. Dick Sichembe and the Acting Director General, Financial Intelligence Center, Ms. Liya Tembo.

The Ministry further revealed that the funds were evenly disbursed the Higher Education Loans and Scholarship Board (HELSB), through the Ministry of Education, between March and December 2022.

“We are pleased to state that, combined with treasury funding, a total of K90.07 million was given to HELSB in 2022, from which, two-thousand-seven-hundred and eighty (2,780) students were awarded scholarships,” the Ministry reported.

The Ministry of Finance and National Planning reaffirmed its commitment to transparency, promising to continue engaging the public in financial and economic matters, in an effort to keep citizens and stakeholders accurately informed.

The Ministry hence debunked any rumors of missing funds, affirming that the money had been put to its intended use in supporting higher education in the country.

(Mwebantu, Monday, 5th June, 2023)