October 4, 2011

Maamuzi magumu ya Rais Sata za Zambia!

Rais wa Zambia Michael Sata wiki moja tu tangu kuingia Ikulu amekuwa akifanya maamuzi magumu ambayo viongozi wengi wa Afrika wamwkuwa waoga ama wagumu kuyafanya, moja maamuzi hayo ni kufuta uuzaji wa Benki ya Umma. 

Je n'nani hapa Bongo anaweza kufanya maamuzi magumu? 

Zambia's Sata reverses S.African bank sale

LUSAKA — Zambian President Michael Sata on Monday canceled the $5.6-million sale of the private Finance Bank to South Africa's First Rand, making his mark on government after less than two weeks in office.

"I have done a search and there is no document of sale for Finance Bank," Sata said of the $5.6-million (4.0-million-euro) deal with South Africa's First Rand Bank.

"I am therefore directing the Ministry of Finance to take back Finance Bank to the (previous) owners immediately," he told reporters at State House.

Finance Bank was seized by the central bank last year after breaking financial laws. It had been managed by First Rand and was sold to the group days before the elections.
"I am grateful that Zambian investment has been restored to Zambians. I knew that this whole thing was politically motivated," Finance Bank chairman Rajan Mathani said.

The Bank of Zambia had said that Finance Bank "was failing and would have continued to fail to conduct its business in accordance with the law," and cited the bank for improper lending practices, among other wrongdoings.

Mathani effectively held 56.5 percent of the bank, depsite a regulation limiting individual shareholders to 25 percent stakes, the central bank said.

He was charged in August 2010 with laundering more than $16 million through Finance Bank. His trial has not yet concluded.

Sata himself at one point was caught up in the investigation into Finance Bank, when authorities in December seized two cars belonging to his wife in connection with money laundering allegations. He was never charged.

Since taking office on September 23, after defeating incumbent Rupiah Banda in presidential elections, Sata has wasted little time in upending the top levels of government which the Movement for Multiparty Democracy had run for the last 20 years.

On Friday, Sata instructed justice minister Sebastian Zulu to investigate the bank deal as well as the $257-million (191-million-euro) sale of Zambia's state owned telecommunication company, Zamtel, to LAP Green of Libya.

On Monday, he announced a series of top appointments to place his own loyalists in key positions, sacking police inspector general Francis Kabonde and replacing him with provincial police chief Martin Malama, from Sata's Copperbelt stronghold.

He has also removed the respected Bank of Zambia governor Caleb Fundanga, unsettling the financial sector, and named a new director for the national power utility ZESCO.

Source: AFP

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