Finance Minster Alexander Chikanda met with China Non-Ferrous Metals Corporation and their collaborators where during the week where he addressed a number of economic and administration issues of the Patriotic Front (PF) Government. Among issues addressed were private sector reliability, use of the dollars, workers welfare and listing of Government parastals on the Stock Exchange.
Below is the Full Speech reproduced
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REMARKS BY Mr. ALEXANDER B. CHIKWANDA, MP – MINISTER OF FINANCE – THURSDAY, 26 JULY, 2012
The function this afternoon offers an opportunity for interaction between the private sector and Government. I am sure we have all noticed for both reasons of curiosity and interest a significant presence of people from China Non-Ferrous Metals Corporation and their collaborators. I will come to that in a while.
Firstly, let me emphatically state that the Patriotic Front Government regards the Private Sector as partners in our country’s development endeavors. Partnership has norms and moral imperatives. Partners are duty bound to consult each other, a process that of necessity fosters trust and confidence and not least avoidance of taking each other for a ride.[pullquote]Partnership has norms and moral imperatives. Partners are duty bound to consult each other, a process that of necessity fosters trust and confidence and not least avoidance of taking each other for a ride[/pullquote].
I sincerely hope that I am not being unnecessarily uncharitable if i assert that the private sector actors in Zambia have a long way to build a track record of unassailable reliability. We in the Patriotic Front think that through frequent interaction and exchanges we can optimise mutual trust which will ultimately anchor common objectives, fellowship and harmonisation of perceptions and interests.
The Patriotic Front (PF) administration’s thrust is inclusiveness and consensus, if and when possible we want to avoid a proliferation of regulation. We are not regulation zealots and we only seek recourse to regulation as a very last resort and principally to preempt abuse. For example we recently through SI 33 decreed that all domestic transactions be effected solely using the country’s legal tender, the Kwacha. This is indeed the practice in all countries except In countries shrouded in some abnormality.[pullquote]The Patriotic Front (PF) administration’s thrust is inclusiveness and consensus, if and when possible we want to avoid a proliferation of regulation.[/pullquote]
As government our inclination is to act with restraint, aware that the government has unmatched leverage because it controls the instruments of the state. The state is not only the summation of institutions in some specific geographical space: it has exclusivity in terms of monopoly of legitimate use of force within its geographical boundaries.
That is why any state controls all instruments of coercion also euphemistically known as security forces. That is why government does not panic when some citizens with misguided and misplaced agenda are very vocal. Some of our people act at the behest of or are trojan horses for some dubious foreign interests.[pullquote]We will listen to a diversity of views even hostile ones. At the end of the day, primacy will always be assigned to the safeguarding of the interests of the Zambian people in totality[/pullquote].
We will listen to a diversity of views even hostile ones. At the end of the day, primacy will always be assigned to the safeguarding of the interests of the Zambian people in totality.
Now, let me talk about China Non-Ferrous metals corporation. We want to congratulate and commend you for listing on the prestigious Hong Kong stock exchange in a way which highlighted Zambia and significantly dispelled doubts about our country as a credible Investment destination.
The initial public offer of $300 million for projects in Zambia was an important achievement more so that the listing represented the first African asset on the Hong Kong Stock Exchange. It is gratifying to learn that more significant resources will be raised on the same stock Exchange for investment in Zambia. This will entail creation of thousands of jobs, an urgent and compelling need for our country.
We hope, and expect China Non-Ferrous will be in the fore front of the corporate social Responsibility particularly as that relates to improved welfare of the workforce, that way you will help reinforce the agenda of the Patriotic Front.
Our primary duty and irrevocable mandate is to be custodians of the interests of our people. This means we cannot watch with indifference the rights and dignity of our people being brutalised. Equally the Zambian workers are enjoined to embrace responsibility and develop a sense of duty to their country.[pullquote]This means we cannot watch with indifference the rights and dignity of our people being brutalised. Equally the Zambian workers are enjoined to embrace responsibility and develop a sense of duty to their country[/pullquote].
We make a passionate plea to China Non-Ferrous Metals Corporation to list on the Lusaka Stock Exchange. In fact, we wish to appeal to all companies of meaningful size to list on the Lusaka stock exchange (LuSE). For government owned companies popularly known as Parastatals, Government will require all of them to list to enhance capitalisation and to afford Zambians a chance to own stock. This is an essential step in the country’s development process.
Listing on foreign stock exchanges by companies operating in Zambia highlights our country. I am not exaggerating when I say the listing by Zambeef on the London Stock Exchange has had more impact than what our mission in the United Kingdom has done to promote Zambia.
The listing in Hong Kong by China Non-Ferrous provides useful information to other would-be Investors. It is a huge quantum leap and Government wishes China Non-Ferrous all the best of luck.[pullquote]I am not exaggerating when I say the listing by Zambeef on the London Stock Exchange has had more impact than what our mission in the United Kingdom has done to promote zambia[/pullquote].
We look forward to widening the frontiers of our partnership. This applies to all companies operating in Zambia. The Patriotic Front (PF) agenda is premised on a conducive investment climate for both local and foreign investors. That era of the absentee landlords Who provided an enabling environment for foreigners and a crippling one for locals is gone.
As Patriotic Front we believe a rich Zambia with enhanced purchasing power for most Zambian is the only efficacy and rationale for foreign investors. Pervasive poverty is not a recipe for Economic growth. On the contrary, poverty militates against meaningful foreign investment because it severely limits market penetration.
I THANK YOU.
Viva PF.We love you Hon. Chikwanda, A very wise man full of wisdom
Paying yourself 600million for a awarding yourself a funny tender is wisdom
Que?
Chikwanda is wiser than sata.
A good leader, always surrounds himself with wise men and women.
The balance between capital and labour ,seem well balanced. i love the analogue of tthe “absent landlord ” least you wakeup all your land is taken….read THE FATE OF AFRICA. Also tthe cause for DE-COLONIALISATION -from the freedom fighter’s perspective. We can not transform the present &future if the past has not taught us anything. Now that many Africans ,esp Zambians are educated, economics should be viewed from a patriotic vested interest,not from the colonialists’s perspective….Yes bwana mentality!
It is shameful that *****s can also read and comment….
For now I think the country is in safe hands’ I see ordinary citizens to benefit because govt can not employ every therefore Enterprising is the best way go. We are all aware that govt has a challenge of creating 2 million jobs by end 2013.
What i’am saying is that communities to have access to loans gives people an opportunity
to invest in income generating activities which in-turn help households to attain
better standards of living,
So Hakainde in his greediness, he will oppose this instead of seeking an indaba with financial experts, he will be throwing his misguided scones just heal himself from the his three loses.
You sound bitter all your comments have Hakainde in it what happened between the two of you Kanshi. You do not sound constructive anymore because you have this bitterness in you and even when your analysis and comments seem okay they are marred by your hatred of one man. What a shame
Chinez ar the worst investor u can hav in the world.they buy products including labour at blow market value
Good evening
I am yet to analyse the contents of the message more thoroughly, but after a browse, I agree with Finance Minister Chikwanda and I feel that we are on the right track with him.
Quote: “Our primary duty and irrevocable mandate is to be custodians of the interests of our people. This means we cannot watch with indifference the rights and dignity of our people being brutalised. Equally the Zambian workers are enjoined to embrace responsibility and develop a sense of duty to their country.”
If only this part of the whole message alone is assimilated, it will be possible to shift the policy agenda from “domination of the native industry by the foreign investment” to “market equality and mutual respect”.
Spot on ,I like the “mutual respect” extending it with” Â mutual economic benefits”
THOSE WITH EARS LISTEN. VIVA PF VIVA CHIKWANDA. STEP BY STEP WE ARE GETTING TO THE PROMISED LAND. THE TIPS ELUCIDATED BY HON CHIKWANDA’S SHED LIGHT ON AN ECONOMIC BLUEPRINT THAT FITS INTO A WELL RESEARCHED THEORETICAL FRAMEWORK OF SELF SUSTAINED GROWTH. THUMBS UP.
Thank you hon Chikwanda,, your govt is doing a good job
Good blueprint. But HE will just rubbish everything, and re-align ba Chikwanda pa last. So it ll come to no avail.
“Some of our people act at the behest of or are trojan horses for some dubious foreign interests”. Sounds like Mr. Grey Zulu whose common refrain was ”it is the work of the enemy”.
This man’s manner of speaking is eloquent and erudite. One of few PF ministers whose every speech I look forward to.
Chikwanda should have simply ‘chased’ them, this is the expected action as clearly stated in the PamaFi manifesto.
Very good and sensible speech from one of the few people in the PF Cabinet with a head over the shoulders. Guy Scott is another and much of the rest have hidden thinking parts in their pants.
However, Mr ABC’s political life was cut short when he accepted a bribe from ba Sata to renovate State House single sourced. Now you are in HE MCS shoes. That is how Sata operates. He seduces, traps and then keeps you down for ever.
It’s like a breath of fresh air when Mr Chikwanda shares his thoughts and view points. Brilliant and very articulate with big issues as usual. But needless to say, it is all in vain because the single biggest obstacle, as time has shown of course, is that his boss President Sata is simply not capable of working at this wavelength.  Â
Acting-President Chikwanda…. but please stay away from that GBM even if he is your relative, GBM is really a reliability to the government. Such a huge GBM fighting with some online newspapers….? Unfortunately we see you in pictures wise-Chikwanda in sandwiched between 2 unpolar ungentlemen GBM & Nsanda.
Good speech. However, on SI 33, it’s not the good intentions of the SI that are in contention but the manner of it’s implementation. Quoting an act that does not exist, introducing a law that is in conflict with other statutes, retrospective effective date, lack of consultation with key stake holders prior to it’s implementation, BOZ’s inability to clarify the law and it’s over stretching of the scope of the SI, the unwillingness to accommodate stakeholder concerns plus the chaos that the Commercial Banks are faced with; are matters that any good Government must listen and respond to. The take it or go to hell attitude is a recipe for failure. A Bemba proverb sums it up well! Â “umwana ashumfwa …….” you can finish off!
Those are not his thoughts people, those are words which may be he agrees with but they were written by some clever economist in the ministry. the only minister whos could be said to own his words was Mutati because he did not depend on speeches being written for him
Some genuinely rattling work on behalf of the owner of this site, perfectly great content material.
I have told several pipo that Chikwanda and Guy Scot are the only credible leaders in PF. Their leadership is quality and they try to be honest. In Chikwanda I see another Magande. God bless u sir.
@#9 Walasa. You must be new in Zambia. Minister Chikwanda is one of those rare breed of politicians meriting and deserving the accolade ‘man of integrity’. To illustrate, using a singular example: he turned down a national honour bestowed on him by a recent occupant of State House. Quite frankly, most politicians would be frothing at the mouths to receive such honours. Give praise where due.
Rubbish ! Rubbish! Rubbish ————I have never read a sensible and smart statement by a PF minister. ———-How can a Finance Minister come up with sentences like this——“Pervasive poverty is not a recipe for Economic growth. On the contrary, poverty militates against meaningful foreign investment because it severely limits market penetration” Its the same as saying —a severely ill person cannot walk from Manda Hill Shopping Complex to Cairo Road.
Shameless hater you are.
Am still oberving what in store for our mother country, Zambia. Promises, promises, promises, promises and promises but results. There is little doubt that could shortsightedness prevail among Zambians, one day a dog is going to be elected to occupy Plot 1. What a crop of visionless leaders who just rely on making noise day in and day out ? We getting more tired than before of the vice – rubbish !!!!!!!!!!!!!!!
Yes sir…
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