Thursday, November 17, 2011
Zambia's police arrest two former Ministers.
Zamtel sale fraudulent
Saturday, November 12, 2011
Zambia's 2012 national buget
Zambia has unveiled its 2012 national budget amounting to US$ 5 billion (27.6 trillion Kwacha).
In the budget the state has increased mineral royalty from 3 per cent to 6 percent.
The budget also reduces corporate tax on banks from 40 percent to 35 per cent as banks proposed.
Tuesday, November 1, 2011
Zambia's Central Bank reduced statutory reserves lending rates from 8% to 5%.
By John Chola - 01/11/2011
Zambia's Central Banker (BoZ) has downed the statutory reserves Ratio from 8% to 5%.
This means that the BoZ will release back a total of K700 billion to the Commercial Banks money it held for people who bank with commercial banks.
This, according to experts, will result in immediate downward reductions of lending rates by commercial banks.
Investrust Bank Plc yesterday decided to reduce its lending rates from 19% to 16% and Finance Bank Zambia Limited has today followed suit and reduced lending rates to a further 15%.
The Central Bank PR department told this newswire that the BoZ has taken note wide spread concerns expressed about the high levels of base lending rates in the commercial banks and the consequence adverse effects on the affordability of growth enhancing credit by a number of productive sectors.
The core liqud asset ratio has also been slashed from 9% to 6%. "With this reduction the cost of holding these assets will. similarly, be reduced," states a statement signed by Head PR, Kanguya Mayondi.
The overnight lending facility has been reduced from 4 per centage points to two percentage points above the interbank rates.
Ends
Saturday, October 8, 2011
Zambia's President turn down invitation by Malawi's Bingu wa Mutharika to attend the 16th Summit of the COMESA Authority.
Zambia’s taxation in copper mining is now the highest – First Quantum Mining and Operations Ltd.
By John Chola
07/10/2011
Zambia’s taxation is now the highest in the copper mining industry, Adam Little, Head of Tax, First Quantum Minerals has said.
Mr. Little said this in response to a question why there is no Windfall Tax in Zambia when the price of copper is so high.
Mr. Little reiterated that Zambia had set its taxes at the very high end of world taxation on the mining industry.
“Zambia does charge an effective Windfall Tax, but it’s called Variable Profit Tax. This increases the rate of tax on profits from 30% to 43.8%. Taken together with the Mineral Royalties charged and ZCCM-IH participation, these are the highest government takes from the copper industry anywhere in the world,” Mr. Little insisted.
He observed that rates were similar to, but higher than those recently imposed in Chile, which is the industry leader.
Mr. Little added that in terms of Zambia’s near neighbours, its taxes were very much higher.
“The Variable Profit Tax is effectively a Windfall Tax, and increases the tax rate charged on profits from 30% to 43.8%”, he said.
“It may be of interest to know that the so-called “Windfall Tax” of 2008 was in fact a Windfall Royalty i.e. it was applied on revenue or turnover and not profit – so high cost producers could actually be making a loss and yet be required to pay this Windfall Tax”, Mr. Little added.
The FQ Head of Tax said that it should also be remembered that from the investor’s point of view, dividend payments to ZCCM Investment Holdings are like a tax for the foreign investor.
“So the rates are increased beyond just the published tax rates”, Mr. Little said.
He observed that companies would invest in countries with the most attractive tax regimes as Zambia was part of a small world where competition was the order of the day.
Many Zambia’s neighbouring countries were reacting to high commodity prices and accompanying public pressure by suggesting increased State ownership and/or various forms of windfall taxes.
Meanwhile, economic Consultant Bob Sichinga reiterated his call (Saturday September 24, 2011) on the new Patriotic Front government to re-introduce the windfall tax.
Many commentators have for a long time alleged that Zambia was not following this route because the mining industries were paying the politicians.
“Zambia is not following it is leading! The Zambian Mining industry certainly isn’t paying the GRZ for the privilege of one of the highest mining tax regimes in the world,” stated Matt Pascall, Director of Operations, First Quantum Mining and Operations Ltd.
“It is very important to differentiate between a Tax and a Royalty – the latter doesn’t take into account whether the company is making a profit or not. If a company is making a loss over a long period it will go out of business – it is untenable that a company should be paying a Windfall Royalty at such high levels that it will become loss making and therefore have to close down – this was the case with the proposed 2008 Windfall Tax / Royalty,” added Mr Little.
And Mr Pascall said Zambia had recent history of State ownership through nationalisation, and has seen the very negative effect that had on the Zambian copper industry, and the Zambian economy as a whole.
He said FQ believed that Zambia was unlikely to follow State ownership again while that history was fresh and understood.
Responding to the question as to whether FQ should be paying more tax Mr. Pascall stated:”the current level of taxation in Zambia on the mining industry is amongst the highest around the world. FQM are paying substantial amounts of tax (as at our June payment, US$1.2 billion in total).”
He added, “One shouldn’t forget that mining companies also contribute significantly to the country’s tax take through PAYE and duties, which are all a cost of doing business.”
Meanwhile, responding to some economic commentators that had expressed displeasure on the existence of transfer pricing in the mining industry Mr. Pascall stated that this was important.
“The reason it raises suspicion is that it can be used so that a low price is set (in Zambia) and then a higher price is realised on the sale of mining products outside Zambia. Transfer pricing also applies to goods and services which are used in Zambia, but come from outside of Zambia from a person linked with the person doing business in Zambia. There has been a lot of public comment on the copper industry, and how the tax take in Zambia is too low,” Mr. Pascal said.
Transfer Pricing is the general term which describes the price that somebody sells their production from, for instance, Zambia, to another company or person who is linked to the producer across national borders.
Ends...///
07/10/2011
Zambia’s taxation is now the highest in the copper mining industry, Adam Little, Head of Tax, First Quantum Minerals has said.
Mr. Little said this in response to a question why there is no Windfall Tax in Zambia when the price of copper is so high.
Mr. Little reiterated that Zambia had set its taxes at the very high end of world taxation on the mining industry.
“Zambia does charge an effective Windfall Tax, but it’s called Variable Profit Tax. This increases the rate of tax on profits from 30% to 43.8%. Taken together with the Mineral Royalties charged and ZCCM-IH participation, these are the highest government takes from the copper industry anywhere in the world,” Mr. Little insisted.
He observed that rates were similar to, but higher than those recently imposed in Chile, which is the industry leader.
Mr. Little added that in terms of Zambia’s near neighbours, its taxes were very much higher.
“The Variable Profit Tax is effectively a Windfall Tax, and increases the tax rate charged on profits from 30% to 43.8%”, he said.
“It may be of interest to know that the so-called “Windfall Tax” of 2008 was in fact a Windfall Royalty i.e. it was applied on revenue or turnover and not profit – so high cost producers could actually be making a loss and yet be required to pay this Windfall Tax”, Mr. Little added.
The FQ Head of Tax said that it should also be remembered that from the investor’s point of view, dividend payments to ZCCM Investment Holdings are like a tax for the foreign investor.
“So the rates are increased beyond just the published tax rates”, Mr. Little said.
He observed that companies would invest in countries with the most attractive tax regimes as Zambia was part of a small world where competition was the order of the day.
Many Zambia’s neighbouring countries were reacting to high commodity prices and accompanying public pressure by suggesting increased State ownership and/or various forms of windfall taxes.
Meanwhile, economic Consultant Bob Sichinga reiterated his call (Saturday September 24, 2011) on the new Patriotic Front government to re-introduce the windfall tax.
Many commentators have for a long time alleged that Zambia was not following this route because the mining industries were paying the politicians.
“Zambia is not following it is leading! The Zambian Mining industry certainly isn’t paying the GRZ for the privilege of one of the highest mining tax regimes in the world,” stated Matt Pascall, Director of Operations, First Quantum Mining and Operations Ltd.
“It is very important to differentiate between a Tax and a Royalty – the latter doesn’t take into account whether the company is making a profit or not. If a company is making a loss over a long period it will go out of business – it is untenable that a company should be paying a Windfall Royalty at such high levels that it will become loss making and therefore have to close down – this was the case with the proposed 2008 Windfall Tax / Royalty,” added Mr Little.
And Mr Pascall said Zambia had recent history of State ownership through nationalisation, and has seen the very negative effect that had on the Zambian copper industry, and the Zambian economy as a whole.
He said FQ believed that Zambia was unlikely to follow State ownership again while that history was fresh and understood.
Responding to the question as to whether FQ should be paying more tax Mr. Pascall stated:”the current level of taxation in Zambia on the mining industry is amongst the highest around the world. FQM are paying substantial amounts of tax (as at our June payment, US$1.2 billion in total).”
He added, “One shouldn’t forget that mining companies also contribute significantly to the country’s tax take through PAYE and duties, which are all a cost of doing business.”
Meanwhile, responding to some economic commentators that had expressed displeasure on the existence of transfer pricing in the mining industry Mr. Pascall stated that this was important.
“The reason it raises suspicion is that it can be used so that a low price is set (in Zambia) and then a higher price is realised on the sale of mining products outside Zambia. Transfer pricing also applies to goods and services which are used in Zambia, but come from outside of Zambia from a person linked with the person doing business in Zambia. There has been a lot of public comment on the copper industry, and how the tax take in Zambia is too low,” Mr. Pascal said.
Transfer Pricing is the general term which describes the price that somebody sells their production from, for instance, Zambia, to another company or person who is linked to the producer across national borders.
Ends...///
China's Jinchuan going ahead with takeover of of Zambia's Chibuluma Mine despite change of Government
By John Chola
07/10/2011
The new owners of Chibuluma Mine in Kalulushi, Jinchuan Group of China have committed to continue working towards the fulfillment of the outstanding conditions precedent notwithstanding change of government in Zambia.
Standard & Poor’s had said that President Michael Sata’s victory had increased economic policy uncertainty.
Standard & Poor’s however added that they expected economic policy shifts of the new government to continue to broadly support investment.
At the Metorex General Meeting held in Johannesburg, 98.6 per cent of Metorex shareholders that were present and entitled to vote, voted in favour of the offer by a South African subsidiary of Jinchuan to acquire the entire issued and to be issued ordinary share capital of Metorex, owners of 85 per cent shares in Chibuluma, by way of a scheme of arrangement.
Headquartered in Jinchang City, Gansu Province, Jinchuan is China’s largest producer of nickel, cobalt and platinum group metals, as well as one of the largest producers of refined copper.
Globally, Jinchuan Group is currently the fourth largest producer of nickel and the second largest producer of cobalt.
Commenting on the Metorex shareholder vote, Mr. Yang Zhiqiang, Chairman of Jinchuan’s Board of Directors, said, “Shareholder’s vote is an important step forward in our acquisition of Metorex. We are pleased with the shareholder support.”
Under the terms of the offer, Metorex shareholders voted in favour of Jinchuan’s R9.1bn offer to acquire Metorex.
Shareholders in Metorex would receive a cash consideration of R8.90 per share, by way of a scheme of arrangement.
The implementation of the scheme of arrangement is subject to the fulfillment or waiver of certain conditions precedent as set forth in the circular to Metorex shareholders, dated 2 August 2011 (the “Circular”).
Metorex is a producer of copper and cobalt, with operations in Zambia and Democratic Republic of Congo - the African Copper Belt.
Metorex has two operating mines, Chibuluma located in Zambia with 85 per cent interest, and Ruashi in the DRC, in which it holds a 75 per cent interest.
In DRC Metorex has three projects, one in the development phase and two in the exploration phase.
In 2010, Metorex produced 51,569 metric tons of copper and 3,622 metric tons of cobalt from its Zambian and DRC operations.
The takeover of Metorex, a firm incorporated in South Africa under the South African laws, means Jinchian Group will own and operate in both Zambian and DRC.
Timetable for remainder of Scheme process:
Finalisation Date expected to be on Friday, 18 November
Finalisation Date announcement expected to be published on SENS on Friday, 18 November
Finalisation Date announcement expected to be published in the South African press on Monday, 21 November
Expected last day to trade Metorex Shares on the JSE in order to be recorded in the Register to receive the Scheme Consideration on Friday, 25 November
Suspension of listing of Metorex Shares at the commencement of trade on the Johannesburg Stock Exchange (JSE) expected to be on Monday, 28 November
Scheme Consideration Record Date to be recorded in the Register in order to receive the Scheme
Consideration expected to be on or about Friday, 2 December
Expected Operative Date of the Scheme on Monday, 5 December
Payment or delivery of the Scheme Consideration expected to be transferred electronically or posted to certificated Scheme Participants, provided certificated title documents are received on time, on or about (subject to limited exceptions) Monday, 5 December
Expected termination of listing of Metorex Shares on the JSE at the commencement of trade on or about Tuesday, 6 December
The parties said the above dates and times were subject to the factors stated in the Circular and any changes as may be agreed to by Metorex and Jinchuan’s subsidiary that is making the offer, and approved by the JSE and/or the Takeover Panel, if required.
Ends…..
07/10/2011
The new owners of Chibuluma Mine in Kalulushi, Jinchuan Group of China have committed to continue working towards the fulfillment of the outstanding conditions precedent notwithstanding change of government in Zambia.
Standard & Poor’s had said that President Michael Sata’s victory had increased economic policy uncertainty.
Standard & Poor’s however added that they expected economic policy shifts of the new government to continue to broadly support investment.
At the Metorex General Meeting held in Johannesburg, 98.6 per cent of Metorex shareholders that were present and entitled to vote, voted in favour of the offer by a South African subsidiary of Jinchuan to acquire the entire issued and to be issued ordinary share capital of Metorex, owners of 85 per cent shares in Chibuluma, by way of a scheme of arrangement.
Headquartered in Jinchang City, Gansu Province, Jinchuan is China’s largest producer of nickel, cobalt and platinum group metals, as well as one of the largest producers of refined copper.
Globally, Jinchuan Group is currently the fourth largest producer of nickel and the second largest producer of cobalt.
Commenting on the Metorex shareholder vote, Mr. Yang Zhiqiang, Chairman of Jinchuan’s Board of Directors, said, “Shareholder’s vote is an important step forward in our acquisition of Metorex. We are pleased with the shareholder support.”
Under the terms of the offer, Metorex shareholders voted in favour of Jinchuan’s R9.1bn offer to acquire Metorex.
Shareholders in Metorex would receive a cash consideration of R8.90 per share, by way of a scheme of arrangement.
The implementation of the scheme of arrangement is subject to the fulfillment or waiver of certain conditions precedent as set forth in the circular to Metorex shareholders, dated 2 August 2011 (the “Circular”).
Metorex is a producer of copper and cobalt, with operations in Zambia and Democratic Republic of Congo - the African Copper Belt.
Metorex has two operating mines, Chibuluma located in Zambia with 85 per cent interest, and Ruashi in the DRC, in which it holds a 75 per cent interest.
In DRC Metorex has three projects, one in the development phase and two in the exploration phase.
In 2010, Metorex produced 51,569 metric tons of copper and 3,622 metric tons of cobalt from its Zambian and DRC operations.
The takeover of Metorex, a firm incorporated in South Africa under the South African laws, means Jinchian Group will own and operate in both Zambian and DRC.
Timetable for remainder of Scheme process:
Finalisation Date expected to be on Friday, 18 November
Finalisation Date announcement expected to be published on SENS on Friday, 18 November
Finalisation Date announcement expected to be published in the South African press on Monday, 21 November
Expected last day to trade Metorex Shares on the JSE in order to be recorded in the Register to receive the Scheme Consideration on Friday, 25 November
Suspension of listing of Metorex Shares at the commencement of trade on the Johannesburg Stock Exchange (JSE) expected to be on Monday, 28 November
Scheme Consideration Record Date to be recorded in the Register in order to receive the Scheme
Consideration expected to be on or about Friday, 2 December
Expected Operative Date of the Scheme on Monday, 5 December
Payment or delivery of the Scheme Consideration expected to be transferred electronically or posted to certificated Scheme Participants, provided certificated title documents are received on time, on or about (subject to limited exceptions) Monday, 5 December
Expected termination of listing of Metorex Shares on the JSE at the commencement of trade on or about Tuesday, 6 December
The parties said the above dates and times were subject to the factors stated in the Circular and any changes as may be agreed to by Metorex and Jinchuan’s subsidiary that is making the offer, and approved by the JSE and/or the Takeover Panel, if required.
Ends…..
Wednesday, October 5, 2011
China's Jinchuan Group Limited buys Metorex Mine of Zambia
By John Chola
China's Jinchuan Group Limited is taking over Metorex Mine Limited of Zambia at a purchase price of US$1.36 billion.
Metorex runs Chibuluma Mine, situated South of Kitwe on the country's Copperbelt Province.
Jinchuan Group Limited is owned by Newshelf, a Chinese State Owned Company incorporated under the laws of the People's Republic of China.
And Zambia's Competition and Consumer Protection Commission has nodded the proposed take over of Metorex Mine Limited.
Jinchuan Group Limited is owned by China's Newshelf, a Chinese State owned Company incorporated under the laws of the Republic of China.
Thw Commission has approved the takeover on condition that the new owners of Metorex Limited to employ local people.
Metorex owns 85 per cent shares in Chibuluma Mine with the remaining 15 per cent shares being owned by the Zambian government through its ZCCM Investment Holdings.
Metorex Limited produced Copper and Cobalt at Chibuluma Mine.
A spokesperson for the Competition and Consumer Protection Commission (CCPC), Brian Lingela, has told this news-wire that Jinchuan Group Limited should support the current government's policy on citizen empowerment.
The CCPC would ensure that the Chinese investors also honours existing agreements Chibuluma Mine had entered into with local companies and ensure that there were no job losses.
Metorex Limited is a company incorporated under the South African laws.
The South African firm has operations also in Democratic Republic of Congo.
Ends....///
China's Jinchuan Group Limited is taking over Metorex Mine Limited of Zambia at a purchase price of US$1.36 billion.
Metorex runs Chibuluma Mine, situated South of Kitwe on the country's Copperbelt Province.
Jinchuan Group Limited is owned by Newshelf, a Chinese State Owned Company incorporated under the laws of the People's Republic of China.
And Zambia's Competition and Consumer Protection Commission has nodded the proposed take over of Metorex Mine Limited.
Jinchuan Group Limited is owned by China's Newshelf, a Chinese State owned Company incorporated under the laws of the Republic of China.
Thw Commission has approved the takeover on condition that the new owners of Metorex Limited to employ local people.
Metorex owns 85 per cent shares in Chibuluma Mine with the remaining 15 per cent shares being owned by the Zambian government through its ZCCM Investment Holdings.
Metorex Limited produced Copper and Cobalt at Chibuluma Mine.
A spokesperson for the Competition and Consumer Protection Commission (CCPC), Brian Lingela, has told this news-wire that Jinchuan Group Limited should support the current government's policy on citizen empowerment.
The CCPC would ensure that the Chinese investors also honours existing agreements Chibuluma Mine had entered into with local companies and ensure that there were no job losses.
Metorex Limited is a company incorporated under the South African laws.
The South African firm has operations also in Democratic Republic of Congo.
Ends....///
Tuesday, October 4, 2011
PRESIDENT SATA APPEALS TO MPs TO ELECT JUDGE MATIBINI AS SPEAKER
By John Chola
04/10/2011
President Michael Sata has appealed to Members of Parliament (MPs) to support the candidature of Judge Dr Patrick Matibini SC whom the ruling Patriotic Front (PF) is floating as Speaker of the National Assembly.
The President also want MPs to support Lundazi MMD MP Mkhondo Lungu as Deputy Speaker of the National Assembly.
"The PF has fully endorsed Judge Matibini’s candidature as Speaker, Hon. Lungu as Deputy Speaker," reads the statement released a while ago by George Chellah, Special Assistant to the President.
Mr. Sata says MPs should also support any candidate the opposition MMD will propose as Chairperson of Committees.
“Parliament needs impeccable leadership. And, above all, a person with vast legal knowledge to preside over its affairs,” says President Sata.
MPs are this Thursday, October 6, 2011 expected to elect the new Speaker, Deputy Speaker and Chairperson of Committees.
Ends...///
04/10/2011
President Michael Sata has appealed to Members of Parliament (MPs) to support the candidature of Judge Dr Patrick Matibini SC whom the ruling Patriotic Front (PF) is floating as Speaker of the National Assembly.
The President also want MPs to support Lundazi MMD MP Mkhondo Lungu as Deputy Speaker of the National Assembly.
"The PF has fully endorsed Judge Matibini’s candidature as Speaker, Hon. Lungu as Deputy Speaker," reads the statement released a while ago by George Chellah, Special Assistant to the President.
Mr. Sata says MPs should also support any candidate the opposition MMD will propose as Chairperson of Committees.
“Parliament needs impeccable leadership. And, above all, a person with vast legal knowledge to preside over its affairs,” says President Sata.
MPs are this Thursday, October 6, 2011 expected to elect the new Speaker, Deputy Speaker and Chairperson of Committees.
Ends...///
UN and African officials put NEPAD under microscope and debate its future ……….. as they mark 10 years of the continent’s development plan
LUSAKA, October 4, 2011/ By John Chola —
The New Partnership for Africa’s Development (NEPAD) management says the initiatives of the grouping are progressively bearing fruits on the grounds.
NEPAD Chief Executive Officer of the Planning and Coordinating Agency (NPCA) Ibrahim Assane Mayaki said Africa expects the plan’s impact to be even stronger in coming years.
“Already, it has changed the perception people have of Africa,” he says.
Dr. Mayaki has said this as the blueprint for the continent’s development, commemorates its tenth anniversary.
Meanwhile, United Nations and African officials have gathered in New York to reflect on its achievements and debate its future course.
A series of high-level meetings and events designed to foster debates and generate suggestions for further improvements are slated to take place from 6 to 12 October in New York, both at the UN headquarters and elsewhere in the city.
“All these are opportunities for us to look back at the role of NEPAD and the remarkable progress Africa has made over the past ten years,” said UN Under Secretary-General and Special Adviser for Africa, Mr. Cheikh Sidi Diarra.
The events will kick off on 7 October with a panel discussion at the UN, which will ponder the links between NEPAD and the Millennium Development Goals (MDGs).
Other events include briefings to UN member states, a commemorative public lecture at Columbia University, and press briefings by Mayaki, and other officials.
Shortly after its adoption by African leader ten years ago, the NEPAD plan became the main UN vehicle in support of Africa.
Over the past decade, NEPAD has promoted bold and innovative approaches in various
sectors, including agriculture, new technologies and governance.
In February 2010, NEPAD was officially incorporated into the African Union (AU) formal structures with the creation of the NPCA.
For Africa as a whole, the past ten years have been marked by significant progress: economic growth accelerated during most of the decade across the continent and democratically elected regimes became more common.
Yet, endemic poverty and high unemployment rates persist.
“Meeting here, 10 years after the plan was adopted, is also an opportunity to take a closer look at the challenges that remains for NEPAD and for the continent,” concludes Mr. Diarra.
Ends…..////
Zambia's President Dissolve the Roads Board
By John Chola
04/10/2011
Zambia's newly elected President Michael Sata has dissolved the Board of Directors for the Road Development Agency (RDA).
This comes barely a day after Mr. Sata dissolved the Boards for Zambia Revenue Authority (ZRA), Zambia Electricity Supply Corporation (ZESCO) Limited and National Pension Scheme Authority (NAPSA, Energy Regulation Board (ERB and Bank of Zambia among others.
The parastatal boards have been dissolved owing to alleged rampant corruption.
President Sata announced the decision to dissolve the RDA Tuesday morning after he swore in appointed Permanent Secretaries at State House this morning.
The President said RDA offered road works to contractors without following tender procedures.
He said the RDA engaged in rampant corruption rendering it irrelevant to the development of Zambia.
The President has since urged the newly appointed Police Inspector General Dr. Martin Malama to help the country tackle corruption.
Ends...
Friday, July 29, 2011
Aid for East Africa, now and in the future – FAO/WFP
By John Chola – Lusaka/29-07-2011
The food and agriculture organisation of the UN (FAO) and World Food Programme (WFP) have welcomed the international community’s determined mobilization in response to the situation in the Horn of Africa.
In a statement released today, the two organisations say this follows he emergency meeting on the food and humanitarian crisis in the Horn of Africa held in Rome on 25 July at the request of the French Presidency of the G20.
They add that this mobilization is aimed first of all at meeting the challenges of the humanitarian and food emergency by coordinating the response of international agencies and humanitarian organizations and by raising the funds required.
They say beyond the emergency, it will be necessary to put into place the long-term solutions needed to guarantee food security in the Horn of Africa.
There will be no sustainable solution to the crisis without measures that enable the countries of the region to become food self-sufficient, develop food crop production and support pastoralism and massively reinvest in agriculture and livestock-raising in the region.
FAO and WFP welcome the fact that the French Presidency of the G20 has put agriculture and food security at the top of its priorities and hail its initiatives such as the Action Plan on Food Price Volatility and Agriculture to mobilize the international community in support of the Horn of Africa’s food security.
They say that that mobilization must not diminish.
Ends...////
IT'S FINAL, THE ELECTION DATE IS SEPTEMBER 20, 2011 -RB
By John Chola
Lusaka, 28/07/2011
The President of Zambia Rupiah Banda has today formally announced Tuesday 20th September 2011 as date the Southern African country will hold its 2011 tri-partite election.
Banda announced the date for holding the tripartite election in a televised national address.
This comes amid accusations by major opposition political parties that Banda’s government officials have massively abused public resources to campaign for their re-election.
Recently Banda told the nation that cabinet and deputy ministers and other government officials were using public resources such as money and motor vehicles simply to inspect state projects.
However the opposition political parties rubbished Banda’s claim.
The opposition observed that government officials seeking to stand as MPs on ruling party ticket have been going round the country dressed in party campaigning regalia.
Yesterday one of the country’s opposition leaders Brigadier General Godeffrey Miyanda of Heritage Party claimed that the 20th September 2011 general elections will not be free and fair.
The former Republican Vice President, Brig. Gen. Miyanda noted that the ruling Movement for Multiparty Democracy (MMD) has been using underhand methods to dupe electorates to vote in its favour.
Ends.....
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