Government says the gutted Zambia National Building Society (ZNBS) building will be developed into a modern building once a partner is found.
Finance and National Planning, Minster Stumbeko Musokotwane, said government has instructed ZNBS to find a partner to construct and develop the building into modern shopping complex, offices, and car park.
Dr. Musokotwane said this in response to a question from Mazabuka Member of Parliament (MP) Garry Nkombo who wanted to know what plans government had for the building which was gutted by fire in 1997.
The minister said government has no funds to rehabilitate the building and has thus instructed ZNBS management to look for a partner who will help rejuvenate the building into modern one.
He was responding to Chipili MP, Davis Mwila question who wanted to know the total number of ZNBS assets as of December last year, and on whether the parastatal has plans to open branches countrywide.
Meanwhile, Finance Deputy Minister, Chileshe Kapwepwe said the Zambia National Building Society’s assets were worthy K171.3 billion as of December last year.
Ms. Kapwepwe said ZNBS will not open more branches around the country as it does not have money to carryout the exercise.
She further disclosed that the society has started renovating its buildings countrywide while rehabilitation works in some places have already been completed.
ZANIS
We are always looking for “partners” to come and do work for us. Then we still their money. Zambia is going backwards.
Thank you very much. Finally that ugly structure will go.
We need to find a strategic partner (local or foreign) who will ensure that standards are up to par when building and maintaining the building.
We need to ensure that the private sector also participates in infrastructure development.
In other words, they are looking for donors. What a country.
sorry the minister was just day dreaming. he was say grz will do the same as they did to author davies and indipendence stadiums.
Wel this is welcome. I honestly would like some of these buildings to be worked on. And anyone who knows anything about business knows that strategic partnerships are one method of driving such projects What I would love to see all those in diaspora out there forming a partnership. This will avoid foreigners gettong it. I say this because while you are all criticising some foreighners are seeing opportunity and will come in and sweep it
Iyi ni pipe dream as long as kateka alepitana fye!
Dr. Situmbeko Musokotwane, this seems to be a feasible and encouraging undertaking.. lets wait and see.
Step in the right direction.Even in the West most skyscrappers are not Govt owned.These owners see ot it that their buildings are wll maintained and running at a profit while contributing to national development.
# 3 strategic partner is not a donor. How can you get donations when undertaking a business venture?? Maybe he should have said a co owner. I love what madison has done to the Building next to the Main Post Office in Lusaka. Such companies are what the minister is talking about. But I wonder who would be interested there is no parking space on Cairo road.
we have had those stories before….let them just start acting and not tokin.
what about that building mu katondo which has changed more owners than any other building in lsk
This is the main difference between the Administration of the Late LPM and RB when LPM was there he told Magande to always look for ways of Zambia creating its own money so that it can support itself in ventures such as these. And Magande work hard. Now the government we have now are always looking for other people to do it for them when are we going to change the mindset of always recieving “coupons”. Thats why windfall taxes where supposed to be for. Honestly i dont see that building now may be in the next 20 years. because these are things we keep on hearing but dont see them happen.
This is good news! but i am just worried that these structural developments only in lusaka is creating a very big gap between the capital and the rest of the nation! even the copperbelt can’t compare!! can’t remember the last time a new building come up on the copperbelt!! the copperbelt is still waiting for its first shopping mall, the kitwe city center is a city planning disaster with no room for expansion!! the government needs to also look into such matters because lusaka is living the rest of the nation behind and am sure the money being used is not all generated within lusaka, it comes from the whole nation!! lets share the resources equally!!
It appears our leaders are still stuck in a square hole. What sense does it make for Finance Minister to suggest that ZNBS should find a partner to modernise the society house. 1997 is long way when the building was gutted. Does it mean that the building was not covered by insurance? Somehow pipo should be held accountable. I remember at one time Minestone or Millers was contracted to rehabilitate the building all of a sudden works stopped. This applies to the incomplete building on Katondo/Freedom way. Can some one give a concrete answer. Those two building once completed will be self sustaining. Billions of invested capital is going to waste yet we are crying for development. Let the GRZ advertise for equity partners to come on board and complete the buildings. Lets plan ahead
MAGNET
Actually there is a multi-million dollar project happening in Kitwe carried by the same company that built ARCADES. They plan to build a shopping mall and offices in Kitwe.
It’s true the Gov has no money to fund the rehabilitation of the gutted Society House yet it has money to fund the By-Elections every month, fund RB’s trips as a tourist, spend US$13million in investigating Chiluba’s case, waste over US$60,000 to relocate less than 100 monkeys from State House to Munda Wanga, spend over US$3million to purchase useless hearses from China not to mention the US$19million spent during Levy’s illness till his subsequent death, which Nicholas Sakozy had already taken care of. Chalo cha Zambia, awe sure! Surely how much would Govt spend to rehabilitate this building and how much would they get out of it as profits upon placing it on rent? surely change is inevitable in this country. Old brains out!
Tell us this news when a Partner has been found !!
iwe Garry Nkombo instead of talking on behalf of your people in Mazabuka you are busy wasting time on Lsk buildings???wat a chi-MP!u are supposed to be asking about wen the Kafue – Mzbuka road will be done,wen will govt build more clinics,schools in Mzbka…..not asking about old buildings….tawekwete ifyakulanda mu parliament?
You dont need a partner to mordenise our buildings, Where is all the money pipo pay in taxes and so on. Use it towards the buildings refurbishment.
Savanah, I dont think modernising buildings is a priority ahead of health, education, roads etc. So the Govenmt need to be innovative. Actually you should be thinking of being a strategic partner, you know the saying nothing ventured nothing gained
Iam ready to be the strategic partner.whereas Zambians are laidback and wait for their govt to invest,i will do it on their behalf.Tulo ma zambians.
Many years after that bulding got burnt, Cairo Road Shoprite was burnt to ashes. In a couple of years or so, Shhoprite is open once again as if there had never been a fire……Love them or hate them, the private sector just understands how to make (most) things happen……!!!
Guys we are not looking for donors. Please get in touch with me and I can give you factual information on this matter to augment what my Minister explained.
We are using an off-balance sheet financing approach where the partner will be given a concession. It is not a donor. It is a proper commercial transaction.