TURNING AROUND ZESCO, NO NEED FOR A CONSULTANTDear Editor,THE UPND government has directed the Industrial Development Corporation (IDC) to borrow a huge loan from the African Development Bank to finance the engagement of a consultant to provide a strategy for the financial and operational turnaround of ZescoLooking at the terms of reference, this consultant will not be a Zambian firm. For example, the IDC is looking for a consultancy firm with a strong financial position having posted revenues in excess of $3 million for three years, consecutively. I don’t know of any Zambian consultancy firm that makes that much in any financial year. Borrowing heavily to pay a foreign entity to tell us how to run our own asset cannot be said to be sound financial management. The issues facing Zesco are well known, In fact they are legacy issues. There is no need to pay a bunch of foreigners to come and tell us how to return it to profitability.There […]
TURNING AROUND ZESCO, NO NEED FOR A CONSULTANT
