President Rupiah Banda has commended China for signing four Memorandums of Understanding (MOUs) with the Zambian government aimed at investing in various sectors of the economy.

Mr Banda said a Memorandum of Understanding (MOU) signed on behalf of Government by Mines and Minerals Development Minister Maxwell Mwale in Livingstone today will see China Development Bank provide an initial amount of US$ 5 billion to companies in the mining sector.

He urged the Zambian private sector to work with their Chinese counterparts so that they could access resources from that fund adding that it was his desire to see that the cooperation benefited the people of Zambia.

The President was speaking in Livingstone Wednesday during his meeting with the Chinese delegation from China Development Bank and the China Africa Development Fund at Royal Livingstone.

He said the China Development Bank and the China Africa Development Fund were not strangers to the country as they have supported various projects in the mining, energy and telecommunication sectors. The President added that a number of companies in the country had benefited that included China Non ferrous Metals Mining Company, Albidon and MTN.

Mr Banda said he was happy to note that another Memorandum of Understanding pertaining to the development of the agricultural sector had been signed on behalf of the Zambian people and thanked the Chinese for taking great interest in the development of the agriculture sector.

”My government will continue to work very hard in order to make Zambia an economic success story,” he said.

Mr Banda also said he welcomed the signing of the Memorandum of Understanding for establishing a China Development Bank regional office in Zambia and described it as a positive development. He said apart from offering job opportunities, the China Development Bank regional office would accord the Zambian business community a chance to join hands with their Chinese counterparts and access the much needed funds to invest in all sectors of the economy.

Mr Banda noted that the selection of Zambia as the location for the Central and East Africa office of the China-Africa Development Bank no doubt demonstrated the positive investments environment that the country had created.

The President observed that Zambia and China had enjoyed a warm and cordial relationship for a long time and that Zambia attached great importance to the relationship between the two countries. He added that the Chinese’ delegation to Zambia was testimony to China’s commitment to the development of Africa and Zambia in particular.

He observed that the President of China Hu Jintao during the 2007 Beijing Summit of the Forum on Chins-Africa Cooperation reaffirmed China’s commitment to strengthening bilateral cooperation with African nations.

Mr Banda said one of the measures announced then was the establishment of a China-Africa Development Fund to encourage and support Chinese enterprises to invest in Africa adding that the delegation’s visit was a fulfillment of China’s commitment to Africa.

The President also noted that a number of Memorandum of Understanding were signed during his state visit to China in February this year and said he was happy that they were becoming a reality today. He noted that Zambia was a developing nation and required more resources to build infrastructure and welcomed the China Development Fund to bridge the gap in financing.

Mr Banda said a committee that would be chaired by Energy Minister Kenneth Konga would be formed that would see to it that the projects to be funded with assistance from the Chinese government are implemented as soon as possible.

Speakling earlier, Chief Executive Officer of the China Development Bank Jiang Chaoliang said the visit to Zambia by the bank executives was a follow up of the state visit by President Hu Jintao to Zambia in 2007 and President Banda’s visit to China in February this year.

Mr Chaoliang said after President Banda’s visit to China early this year, the China Development Bank was tasked to come to Zambia to see how they could help the country economically. He said the bank was wholly owned by the Chinese government and was responsible for long term external financing and that it was also a leading bank in China supporting infrastructure development.

Mr Chaoliang noted that China Development Bank was the largest bank in the world in terms of external funding and that it provides funding to major projects in the world. He said the team was visiting the country so that they could further expand cooperation in agriculture as Zambia was endowed with vast water and land resources.

Mr Chaoliang further said the bank could help Zambia overcome the global economic melt down in the mining sector. He also said energy was a prerequisite of the development of other sectors and noted that the China Development Bank was keen in helping Zambia improve its hydro-electric sector.

Mr Chaoliang said his bank would be willing to provide financing to Small Medium Enterprises (SMEs) .

He pledged to conduct a comprehensive cooperation with the Zambian government so that there could be a framework between Zambia and China Development Bank.

The Zambian delegation comprised of Energy Minister Kenneth Konga, Mines and Minerals Development Minister Maxwell Mwale, Agriculture Minister Peter Daka, Funance deputy minister Chileshe Kapwepwe and Commerce deputy minister Lwipa Puma.

Other dignatories from the Chinese delegation included International Finance Department Director General Liang Husiang, China Africa Development Fund Chief Executive Officer Chi Jianxin and Global Coopetaion Director General Wang Ge Fan.

ZANIS

The United Party for National Development (UPND) has described the move by Government to adopt the recommendations of the national Indaba as a sheer worst of time and resources.

Government through cabinet had yesterday adopted the recommendations tabled at the national indaba held on the 4th and 5th of April last year held to discuss among others, measures to mitigate the effects of the global financial crisis.

UPND spokesperson Charles Kakoma who also described the national indaba as an MMD indaba said the move by Government is another ploy to amass tax payers money at the expense of national development.

Mr. Kakoma said Zambians should not be cheated that the implementation of the indaba resolution will bring any tangible change stressing that people should be wary of Government’s fake promises aimed at sustaining the support of the people.

He accused the Government of buying time by raising the hopes of the Zambian people.

And Kakoma has charged that the parties will mobilise Zambians and encourage them to get voters cards and National Registration cards so that they can vote out the leadership of MMD.

Meanwhile, Change Life Zambia Director Fr. Frank Bwalya has told QFM that the Indaba will not yield any tangible development for the country stressing that the indaba was just a useless talk shop.

He said that Change Life Zambia will not support the initiative because it was just an act by Government to divert the attention of people from the real issues going on, citing the length of time it has taken for Government to adopt the recommendations.

And the UPND has charged that the MMD is wasting time to petition the recently held by elections.

UPND Mazabuka central Member of Parliament Gary Nkombo said that the petition by the MMD is an indication that the ruling party wants to cling on to power.

Mr. Nkombo stated that even if the ruling party wants to petition the elections, UPND knows that it was not responsible for the violence that was recorded.

Mr. Nkombo has maintained that the opposition were not responsible for the violence that was recorded in Mufumbwe. He added that the UPND has evidence of who orchestrated the violence, saying that after the court ruling, Zambians will know for sure.

He claimed that the violence had the blessing of the republican President Rupiah Banda, describing the whole issue as disappointing.

Mr. Nkombo says that the people who were responsible for the violence are rightly known by the people in that constituency.

He says that the UPND is anxiously waiting for the court proceedings to ascertain the responsible group.

And the national revolution party President has charged that the MMD is to blame for the violence in Mufumbwe.

Cozmo Mumba says that the MMD had all the control using the state machinery and that it is possible they were the reason for the violence in the recent by elections.
[Q FM]

NATIONAL Democratic Focus (NDF) president Ben Mwila has urged Patriotic Front (PF) leader Michael Sata to withdraw his candidature from next year’s elections in view of revelations about his health status.

Mr Mwila said the heart complication that led to Mr Sata’s evacuation to South Africa last year was enough for Mr Sata to rethink his ambitions for Republican presidency.

He said the heart condition had been worsened by indications that he has other health problems.

Mr Mwila called on the Zambians not to vote for people like Mr Sata as they would fail to lead the country because of pressure.

He said the Republican presidency was demanding and that even in the absence of other diseases, the evacuation to South Africa was enough for Mr Sata to think twice.

Mr Mwila said nationwide campaigns were rough and that the addition of other health complications would worsen his situation.

“The people of Zambia know what they want for a president. I am not concerned about the four diseases as it has emerged but just the heart condition.

“You cannot have a president who is suffering from heart complications,” Mr Mwila said.

He was commenting on latest medical reports that have shown that Mr Sata was diagnosed with four named diseases at a clinic in Lusaka.

Mr Sata has maintained that the diseases he was suffering from were ‘minor’ and that they were cured when he was evacuated to South Africa.

Meanwhile, MMD Copperbelt youth chairperson Evans Chibanda has said the PF leadership lacks credibility because of its attempts to gain political mileage out of opponents’ health.

Mr Chibanda said the fact that the PF leadership was celebrating over some ruling party leaders falling sick or going for medical check-up was an indication that the entire leadership was questionable.

He was reacting to media reports that Mr Sata had rung the Zambia’s High Commission in South Africa several times to seek confirmation whether Vice-President George Kunda had died after accusing Government of not telling the truth about his health.

And a former PF member has advised Mr Sata to stop talking ill about other political leaders’ health.

Samson Zulu, who is PF chairperson of the committee of founder members, said in an interview in Lusaka yesterday that Mr Sata should confine his “political comedy” about other politicians’ health to the PF.

“Mr Sata should be aware that he his vying for a highest office in the land and if the devil allows that he be elected president, he should know that he will be president of both the sick and those in good health,” Mr Zulu said.

[Times of Zambia]

British Prime Minister Gordon Brown resigned with a brief, emotional statement on Tuesday, ending 13 years of the Labour Party government and paving the way for Conservative David Cameron to become the country’s next leader.

Standing outside 10 Downing St. alongside his wife, Sarah, Brown announced he would travel to see Queen Elizabeth II to resign — allowing Cameron to take office with the expected support of Nick Clegg, leader of the third-placed Liberal Democrats.

“I have informed the queen’s private secretary that it is my intention to tender my resignation to the queen,” said Brown. He said he would ask the monarch to invite Cameron to form a government and wished the new leader well.

Brown then walked hand-in-hand with his wife and young sons John and Fraser down Downing Street, where a car waited to take him to the palace.

Brown’s resignation ends five days of uncertainty after last week’s general election left the country with no clear winner. Britain’s Conservatives won the most seats but fell short of a majority, forcing them and the Labour Party to woo the Liberal Democrats.

Negotiators for the Conservatives and the Liberal Democrats met for several hours today, but emerged without confirming whether a deal had been struck. Conservative deputy chief William Hague said only that the atmosphere had been “positive.”

Brown’s resignation follows five days of sometimes tense talks following the country’s election, which produced no outright winner. It left Britain with its first hung Parliament since 1974, which no one party won a majority of seats in the House of Commons.

Cameron, 43, will become the youngest British leader in nearly two centuries.

Brown’s departure follows three successive election victories for his center-left Labour Party, all of which were won by his predecessor Tony Blair, who ousted the Conservatives in 1997.
[Associated Press]

The China Development Bank (CDB) offered Tuesday to provide one billion dollars (787 million euros) for a planned hydroelectric station in Zambia and proposed a Chinese company to develop the project.

Jiang Chaoliang, President of the state-owned CBD, said Beijing-based Sinohydro Corporation, which has expressed interest in developing the 1.5-billion-dollar Kafue Gorge Lower power station, could bring valuable experience to the project.

“With the financial stature that CDB has and the rich experience of Sinohydro Power Corporation, we believe that we will be able to contribute to the alleviation of the bottlenecks Zambia is facing in terms of hydro power,” Jiang said during a visit to Zambia.

Construction on the 600-megawatt project, which is aimed at easing power outages in the poor southern African country, is due to begin next year.

[pullquote]”Because we are the ones that are in a hurry to develop, we shall move with the quickest speed to ensure that we access the funds from the CDB and the China-Africa Development Fund,” he said.[/pullquote]

Sinohydro is currently the contractor for Zambia’s Kariba North Bank extension hydro project, designed to add 360 megawatts of capacity to the 600-megawatt Kariba plant.

CDB has helped finance a raft of projects in Zambia, with outstanding loans totalling 112 million dollars. The Chinese bank has said it could provide financing of up to 1.4 billion dollars for various projects, including the one billion dollars for the Kafue Gorge station.

Kenneth Konga, Zambia’s minister of energy and water development, said Zambia needed to build more hydro-power capacity and would move quickly to tap the pledged funds from CDB.

“Because we are the ones that are in a hurry to develop, we shall move with the quickest speed to ensure that we access the funds from the CDB and the China-Africa Development Fund,” he said.

AFP