By ROGERS KALERO
ZAMBIA Institute of Certified Accountants (ZICA) has said there is need to have a controlled audit of the Constituency Development Fund (CDF) to ensure accountability and transparency of public funds in order to gain and hold public confidence among stakeholders.
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ZICA President Yande Mwenye said, apart from having a controlled audit of CDF, there was also need to employ ZICA recognised accountants to audit the funds because they will always be professional in the way they will carry out their auditing
Ms. Mwenye, who is FNB board director, was speaking on Tuesday night at Garden Court Hotel in Kitwe during the First National Bank (FNB) Zambia 2024 Post Budget discussion
Ms. Mwenye said, while ZICA welcomed the increasing of CDF from K28 million to K30.6 million in the 2024 budget, her organisation wanted to see a controlled auditing of the CDF
“Yes, we are happy with the increment of CDF from K28 million to K30 million because this will see an increase in infrastructure development and improvement in people’s welfare, however, as ZICA, we are calling for a controlled audit of the CDF to ensure accountability and transparency
“In ensuring effective auditing of CDF, ZICA recognised accountants should be engaged to audit the funds because they will always be professional in the way they will carry out their auditing,’’ Ms. Mwenye said
And FNB Chief Financial Officer Kampamba Mulenga has said FNB will continue adapting in order to remain relevant and ready to meet the ever changing needs of its customers and the state of the Small and Medium Enterprise (SME) landscape
Mr Mulenga said FNB Zambia, as a bank was re-imaging help for the SME sector so that it can continue providing solutions that intuitively support growth and so was pleased to announce that it was re-introducing FNB as a business growth partner.
“The starting point is to understand that FNB recently adjusted loan interest rates to offer competitive pricing.
This was done to allow SMEs harness opportunities that have been created through Government’s positive policy pronouncements.
“FNB Zambia has developed SME lending products with low interest rates and flexible tenors to meet the unique needs of SMEs. Our Vehicle and Asset Financing products can fund plant & machinery, renewable energy products, printing equipment, and other movable assets to enhance, efficiency and growth,’’ Mr Mulenga said
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