Indo-Zambia Bank (IZB) limited has contributed K45 million towards the late President Levy Mwanawasa’s state funeral expenses.
The contribution, which has since been handed over to the Bank of Zambia (BoZ), is the first to be made by a commercial bank after the central bank requested various banks in the country to open accounts for funeral expenses.
And speaking after receiving the cheque, Bank of Zambia Governor, Caleb Fundanga commended Indo Zambia Bank for the gesture.
Dr. Fundanga said government alone could not meet the state funeral expenses because they were enormous.
He said the gesture was also in line with the Zambian tradition of contributing and gathering resources for the funeral to ease the burden of the mourners and to also to mourn the late Dr. Mwanawasa with dignity.
Dr. Fundanga has since urged Zambians to contribute towards meeting the state funeral expenses through depositing their money in commercial banks who in turn will transfer the money to BoZ.
He added that the money will be handed over to cabinet office.
He also urged Zambians to continue applying policies which the departed President left in order to create wealth and improve the economy of the country.
And Dr. Fundanga said his institution has also opened a book of condolences in honour of the late President Mwanawasa, who died in Paris, France on 19th August 2008.
Earlier, Indo Zambia Bank (IBZ) Managing Director, Cyril Patro commended BoZ for calling upon commercial banks to contribute towards meeting the late President Mwanawasa’s funeral expenses.
Mr. Patro said the bank’s initiative would help sustain government’s expenditure during the national mourning period.
He also said his bank received President Mwanawasa’s death with sorrow.
He said the death of the President was not only a loss to Zambia but to the international community as well.
Mr. Patro has also urged Zambians to endeavor to live up to the late President Mwanawasa’s vision of growing the country’s economy.
And IBZ board chairperson, Orlean Moyo, assured government of her bank’s support during the national mourning period.
Mrs. Moyo saidthe bank would pass on the money collected from its clients through the newly opened state funeral account to the government.
Last week, Dr. Caleb Fundanga, in correspondence to commercial banks and other key players in the country’s financial sector, urged banks to open similar funeral accounts into which customers and the general public would be able to make contributions.
These contributions will then be channeled by BoZ to the government of the republic of Zambia.
ZANIS/CM/YS/KSH/ENDS
plz bogers leave this space for me to coment alone.you have been commentig alot.
Mulongoti must be smiling. Kabili aishiba ati anwa again.
am sorry chibombamilimo.we already decided to vote for sata
Donors be careful, the donated monies may only be used for MMD campaigns!
The MMD has even postponed deadline to receive MMD presidential candidates for the forth coming by-elections. May be to allow mama Maureen to file her application when she returns from her ‘tour of duty’…. this nonsence Levy would have not allowed to happen if he was alive.
iwe zambian in sydney,you didnt ready the first coment?Walavundula ka.
ummmmmmmmmmmm………………..fillinf an already full cup? Kaya kwamene ziza yenda maje izo ndalama mwe?
You just comment without reading other comments.
viva Magande .we shall vote for you.Not mad pipo in state house
ever again.
so the money donated will be given to the family?
Magande get ready this is your time .we shall do everything possible to get to plot one at least you have the right CV that Finance Minister a diplomat.you won’t make careless statement about other countries.I love man.GO man,GO man this is your time.
#5 cofused – what is wrong with my comment. ok i have left it for you to comment. Now it will be like talking to yourself. Walapena.
nafileka ifyaku commenter.you dont respect me.
#12. cofused ha ha ha,get a grip man..calm down start breathing.
aka ka Bank kaba mwenye ULIBONESHA! it does even pay its workers well!
#12 You dont deserve any respect at all.
aka ka Bank kaba mwenye ULIBONESHA! it does even pay its workers well!
LT do you have a prblem why this msg coming on “Error establishing a database connection”
If you ask me i would say…..yes its our culture to contribute money pa malilo but in this case i think we have already contributed as tax payers.
Emergency funds hello! So where will the money go??? Maybe if they explain that to me i will understand but ryt now am definately not for the idea.
put the cash to good use this time around …don’t plunder the cash mike and Jonas.
It makes sad reading at times when we hear our government speak good words about good governance yet at the same time they fall short of wisdom of the same words they use, im alive to the fact that it is this same government which earlier on announced to us that the current budget is capable of meeting the funeral expenses but what are we hearing today… a complete turn to the opposite, eating their own words….
Indo Bank what are you trying to prove? There are so many street kids out there just near Indo Main Branch. Surely can’t you donate to those poor people out there. It is very sad. U can’t even give small loans to people who will pay you back. Why donate to people who are already rich? Shame!
# 15 is an imposter.
Next will be Finance Bank & KCM,these are the “friends ” of the MMD
Pa-last bonse(INDO plus other institutions) mwalachita contribute moneys worth next year’ national budget,,,,ba INDO go pay your workers handsomely!!
Why Not open an account to save our ailing medical infrastures so that our presidos and prominent citizens do not die abroad? We are tired of waiting for corpses at the airport!!!!
#21 get a life
#23. We pay taxes to enable Govt attend to infrastructure development. There’s no need for citizens to open an account for that purpose. HOWEVER, in the case of the funeral A/C, the rationale is that the money being spent is being taken from the items in the national budget which are not high priority hence the need to raise additional funds outside the budget so that the estimated expenditure is not affected adversely.
UTH needs the money
#20 you are an *****. I think the reason why you’re urging the Bank to give the money to the street kids its because you also sent your grandma to the street just to torment people by asking for money from them. Thats why you want even the Bank to go and give out money to the street kids and grandies so that your grandma benefits from the same money. Watch webo! watch it!.
#22 ka 1+1=11, you’re very funny iwe kamambala
fi mwenye making donations just to consolidate things so that we dont chase them by the time we wake up these bastards will have corrupted these *****s in power and our economy will be puppeteer ed by these *****s.the issue of immigrants needs to be addressed on a serious note
IZB donates millions for a funeral. My foot!Typical Indian mentality. Our first job is to close that bank for draining our copper millions to India. Zambians WATCH OUT! Some financial houses will now be trying to re-position themselves to cash in on our confusion. Watch them and what they will be doing to gain sympathy. They cant donate for live projects in Zambia. Schools need desks, books, libraries, etc. Hospitals need infrastructure, ata imwe!
GRZ has already said they will take care of the funeral arrangements. Dont make me laugh IZB. Why not donate to improve the crumbling UTH, KITWE CENTRAL, NDOLA CENTRAL, LEWANIKA GENERAL, CHIPATA GENERAL. Mwanawasa’s funeral? Leave us alone Indians.
Muwememuweme, your first job should be to start a bank and compete with the Indian bank
#30 the IBZ has donated as a result of grz having made a request to business houses and individuals to donate towards the funeral. You should criticise grz for not asking the same business houses to donate towards social responsibilities such as the ones you have mentioned. In other countries companies are obliged to support charities by govt. In Zed they dont have any obligation to donate because they pay a lot in taxes. Ask grz if they are using these taxes wisely. Let us congratulate and appreciate what IZB has done instead of castigating them.
Use the money to open UNZA, Mwanawasa’s funeral money is coming from the budget. UNZA was not fully budgeted. we need more lawyers from UNZA
# 29 essex boy – you are an immigrant too. Maybe brown should kick you out first. Any country that closes out immigrants will not develop – that’s a fact.
Ala torontian ine ne chief mwaice wandi i sit on stacked figures na british passport nalikwata why are you concerned anyway its just obvious that we have a lot of bogus investors in zambia and we are being exploited because maureen mwanawasa received a lot of gifts and let in fisherman with briefcases in.look closely t zimbabwe if we have a lot of mwenye people will revolt and we will regret we should maintain a balance of real investors.how can someone be an investor when they come into zambia and start selling vegetables or open utuntemba these should small enterprises for locals.becareful torontian am a learned scholar nkesabapasa ba mwenye
essex boy – you have a lot of energy and that may be why you left Zambia like I did. However ba mwenye tulandapo teba lufyanya. Aba lufyanya ni fwebo and as long as Zambians remain xenophobic naka population aka 11 million, 90% poor we will never develop – that’s my point. The problems we have in Zambia are leadership based, they are not created by “investors” or foreigners.
How much have the Chinese conrtributed so far?
Did you say Patro? Are you sure it isnt Patel? Anyway they come with all sorts of names these days. Patro (patel), Kumer(kumar), Sungeel(sanji),the list is long. The deeds are the same. Ziko kawena, mali kamina (the country is yours, the money is mine).Zambia wake up. We need Chavez there.
As for the chinese……..well, what can one say? Why do we need them in zed, anyway?
Iwe ka Eagle-One-USA kapulkobe. Nine uleebefyo? Didn`t you see the Birds` nest? That is what I contributed.
#35 continue dreaming. If you are sitting on stacks then go and invest it at home. Having a British passport doest make you rich. In UK you dont just get that rich without having to account for the source of your cash like in zed.
ok nomba, what are they going to use the money for?
#41 To pay for my AUDI sports car.
Wake up.
#40 you truly are a disgusted spectator so much so that you disgust me we mbushi yaku south london why should i go and invest now when i can grow my money and then invest later on.and yes having a bitish passport does make me rich because financially i am entitled to so many amenities and financial opportunities which you are not entitled to but then again no one from south london understands finance or is willing to better themselves.and yeah iam sitting on on stacks,my money is on point it is because of people like you with (PHD) pull him down mentality that fellow zambians do not want to invest in zambia because they know that immediately someone is successful you will pull him down.
Begging, begging all the time. What are they going to use this money for? feeding the 12 million Zambians that are presumed sitted mourning pamalilo? Hello,I am saving to bury my mother respectfully why the hell will i want to contribute to already rich people.HELL NO.
The govenment should contribute 98% of the total expenses, 2% should come from the contributions. Total residue of the contribution to be given to Maureen and the family. According to our tradition that is what should be done. No govt minister should be given any ngwee of this amount. Forget about Maureen’s stupid behavoour and follow the tradition.
The tradtion does not states any percentages that is just my sujection and it is fair enough. The money is being contributed towards her husband’s death therefore the residue should go to Maureen and her children. I hope this is what the govt will do…
I meant suggection
If the government doesn’t have enough funds for an elaborate state funeral then why go ahead with the national tour and 21 days of National mourning. We loved Levy and even those who did not love him still appreciate the need to mourn him with dignity but I feel it has all been overdone. Has the saying goes “Too much of anything….”. By the time 3rd Sept comes around and the 21 days elapses the whole process would have become an irritation and all the dignity and decorum we are supposed to have mourned Levy with will have disappeared. 7 days would have sufficed or at the most 14 days; less costly – sparing GRZ the embarrassment of asking for funeral donations. Where is the dignity now?!!
#48 whenever a person dies i.e a civilian like you and myself, pipo contribute without any request. However, this is the sitting president who has died hence opening of an a/c towards expenses it the right move. Dont just look at the negative points think of the advantages as well.
This is hard to understand.where is the govt?
Imwe ba LT. Don’t start start behaving like the Post. I posted a comment relating to Indo Zambia Bank not being computerized up to today. I was in Ndola and wanted to withdraw money form my Lusaka account and was told the fax line was down to ask for my balance Chansoni sana
i hope LT is censoring chaps with insults.
viva LT
comn people,yuo just comment and yet the gov has made there decisions. For sure it’s hurting but what can we do? some of us may be living abroad, holding all sorts of passports but we have families in zed. you don’t need to insult. we all invest for the better,but why all this?