Mon, 27 Aug 2012 12:09:27 +0000 The statement by Chief government spokesman Kennedy Sakeni, justifying the continued stay of Malawian judge Lovemore Chikopa in Zambia completely misses the point. Zambians would like to know why they should spend more tax payers money chasing after money that has been stolen from them. The starting point in this entire K14bn Development Bank of Zambia should be the manner in which the money was obtained from the bank. In its reports the Bank of Zambia, the supervisory authority of all banks has stated quite categorically that the K14bn loan which has now mounted to K18bn was in breach of the Banking and financial Services, large loan exposure regulation and that the loan led to a significant regulatory capital deterioration when it became non-performing. They are therefore two elements to this loan which have got nothing to do whatsoever with what is transpiring in the courts of law and […]
