After months of negotiations, government has finally, handed over the management of the Zambia National Commercial Bank (ZNCB) to Rabobank of the Netherlands.

The deal was sealed in Lusaka today after government agreed in principle last December that Rabobank should buy 49 per cent shares in ZANACO.

Commerce, Trade and Industry permanent secretary Davison Chilipamushi disclosed during a press briefing that Rabobank’s assumption of the  management of ZANACO was
in line with the agreement on the partial sale of the bank.

As part of the sale and purchase agreement entered into by the bank and the Zambian
government, both parties agreed that Rabobank takes over management rights of ZANACO while government will retain its representation in the bank at board level.

The new board includes three members from Rabobank , two government representatives  and one representative to be appointed by  board members.

These are Mark Wiessing, Arnald Kuipers , Jan Dijkstraa , Chintu Mulendema and
Getrude Akapelwa.

Mr. Chilipamushi said the take-over of the bank today marked the end of the long
process of partial privatization of 49 percent sales in ZANACO which he said has been conducted in a transparent manner.

Mr. Chilipamushi said ZANACO’s partial sale will enhance economic development in the
country.

He added that the sale was also done in accordance with the provisions of the law as stipulated in the Banking and Financial Services Act.

He however could not state the sale value of the bank saying government through the
minister of commerce will inform the nation after the evaluation process is completed.

Mr Chilipamushi said the value of the bank’s assets has increased over the years compared to 2004 when ZANACO  was offered to Rabobank hence the need to revalue the assets.

The permanent secretary said 25.8 percent shares would be offered to the Zambian public so that they have a say in the running of the bank.

Mr. Chiliupamushi who is also past chairman of the board thanked board members and
the staff of the bank for their contribution during the privatization process, which he said has helped to increase the value of the bank.

And speaking at the same function, new ZANACO managing director Mark Wiessing said
the vision of his team was to take the bank to another level.

Mr. Wiessing said ZANACO has built a strong foundation and has the largest rural branch and ATM network.

He said the vision of Rabobank was to build on the achievements and move towards a more customer focused organisation.

“We need to capture the market share of ZANACO as we are look for a sustained
profitability in the long term so that the bank can recapture the share it lost on the market.

The bank will in the next three months present a new business plan to indicate the future of the bank.

The managing director said the bank would also seek new opportunities of expanding
its   corporate presence in agriculture, mining and public sectors.

Mr Wiessing said ZANACO will maintain its presence in rural areas, adding the bank has a plan of expanding its branches network to cater for both urban and rural
areas.

On fears of  job losses, Mr Wiessing said the bank had no masterplan of retrenching  workers  saying the philosophy of the bank was to grow the business .

He however pointed out that there will be changes in the staff mix depending on the outcome of the new business plan.

He said Rabobank has 110 years experience in banking and is ranked 20th in the world
in asset base and equity.

“We bring to Zambia expertise in retail and agriculture gained in 110 years of banking,’ the said.

Following the partial sale, Government will now have 51 percent shares while Rabobamnk intends to sell four percent shares to the farmers out of its 49 percent shares.
ZANIS

President Mwanawasa has lashed out at politicians bent on frustrating government efforts in fostering development in the country.

Speaking when he officiated at the ground breaking ceremony of the construction of the Albidon Zambia
limited Nickel mine in Mazabuka today, Mr Mwanawasa said some politicians had alleged that the mining company had disadvantaged Zambians.

Mr Mwanawasa who had earlier toured the resettlement
site said he was impressed with what he saw as villagers were being built a house each and were given two animals.

He said villagers were happy and were looking forward
to move to the site.

”Who are you speaking for when you say Zambians are
being disadvantaged. We have been independent for 43
years, why didnt you develop the nickel project,” he said.

Mr Mwanawasa urged critics to stop wasting government’s time.

He noted that he was happy that the mining company had
invested U$ 100 million in the development of nickel.

Mr Mwanawasa also said the pace at which the company
had moved from discovery to exploration underscored
the commitment of Albidon.

He said the investment would generate employment and
would result in wealth creation not only for the Mazabuka community but for the country as a whole.

The president said the theme of the ground breaking
ceremony was ‘Revival and diversification of the mining industry in Zambia.”

He noted that over U$4 billion has been invested in the mining industry which has seen the production of copper doubling from 250,000 metric tonnes in 2001 to 500,000 metric tonnes in 2006.

Mr Mwanawasa said with the coming in of new investments, copper production was projected to rise
to 1 million tonnes per annum by 2011 which would push the country back among the major global copper producing countries.

”We are now seeing diversification in the mining sector itself. We however want to see more development in the country as it is under explored,” he said.

He said the exploration and mapping project undertaken
by the ministry of mines will cover the remaing 45 percent adding that this would enable the country to do more mining activities.

Mr Mwanawasa said his goal was to see to it that the private sector establishes one mine in each province
with significant ownership being placed in the hands of Zambians. 

And speaking earlier when he toured a house of one of
the evicted families, Mr Mwanawasa said he had received complaints that the displaced villagers were being exploited and that the investor had taken away their land.

Mr Mwanawasa said contrary to the reports, he was happy with what he had seen on the ground.

He said it will be retrogressive for some politicians to fight development as innocent people would suffer just because selfish politicians want to champion their cause.

Mr Mwanawasa said it was important for people to realise that the project was being taken to their area because government was interested in fostering development.

”The important thing is that people should realise that these are projects of the party and government and people should grasp this. It will not do for us to start fighting development,” he said.

And one of the resettled villagers Robert Chilobya told
the President that each of the resettled villagers has
been given two cows and that the mine management would
provide fertiliser for the initial year. He said the
construction of the rest of the houses was still in
progress.

Mr Chilobya said before he was resettled he had 10
hectares and noted that he now has an additional five
making it fifteen hectares.
ZANIS

Zambia is still grappling about its dual membership of belonging to both the Common Market for Eastern and Southern Africa (COMESA) and Southern Africa Development Committee (SADC) ahead of the SADC summit set for August this year.

Commerce, Trade and Industry Permanent Secretary Davidson Chilipamushi said here Monday that the government is actively studying a report by stakeholders on the matter.

Chilipamushi said the nation would be informed about Zambia’s official stance after the consultative process has been exhaustively concluded.

Early this year, Chilipamushi had said the government would make its position known by the end of last month after consultations with various key stakeholders.

SADC and COMESA members that subscribe to both regional bodies are faced with a tough decision to make a stance on which body to continue their membership in light of duplication and intertwined trade issues.

Zambia belongs to both SADC and COMESA, and the two regional bodies are keen on establishing customs unions.

Among the many thorny issues is that according to the World Trade Organization (WTO) rule, no member country should belong to two customs unions.

COMESA wants to turn its Free Trade Area launched on Oct. 1, 2000 into a customs union in 2008 while SADC plans to have a customs union of its own in 2010.

Plans are also afoot that SADC’s customs union be followed by a common market by 2015 and an economic and monetary union by 2018. Similarly, COMESA intends to introduce a central bank and a single currency at the same time framework.

President Levy Mwanawasa has expressed worry over the jostling for power that is going on among the top MMD leadership. 

Speaking on arrival at Ndola international airport this morning, Mr Mwanawasa said it was wrong for leaders in the ruling party to start jostling for power at such an
early stage at the expense of development.

The President who arrived from Mongu where he had gone to attend yesterday's Kuomboka veremony, said it was probably his mistake to have allowed those that had
intentions of assuming the party's top position to reveal their intentions.

He said the  development of the country was a priority and that nothing should hinder that.

Mr Mwanawasa said  that he will suggest to the National Executive Committee (NEC) of the MMD that the party convention be held a year before the elections instead of the
current 2 and half years.

He explained that holding the convention a year before the elections would help slow down the bickering that was currently going on.

The President who is in Ndola to officially close the Finance Bank 2007 Zambia Open Golf tournament which ends today, said he  was happy that a tournament of such
magnitude was being held in the country.

Mr Mwanawasa said such an event needed to be given the importance it deserved adding that the golfers that had come to participate in the tournament would go back to
their countries as ambassadors of Zambia.

Meanwhile, Copperbelt Province Patriotic Front (PF) mayors this morning boycotted  to receive President Mwanawasa at the Ndola international airport.

The mayors who initially were at the airport to receive Mr Mwanawasa, left before the president arrived.

When reached for a comment at Ndola Civic Centre, Ndola Mayor Anthony Katongo who was in the company of other mayors, said the atmosphere  at the airport was not
conducive.

Maayor Katongo said the MMD cadres were insulting PF leaders through their songs.

He said this was not the first time such an incident was happening and that the PF mayors had officially complained to the MMD leadership who had assured them that the
practice would be stopped but to no avail.

Mr Katongo said the mayors were surprised today to find that the practice had not stopped as per promise.

He said the mayors were willing to perform their civic duties but under a conducive environment.
ZANIS

President Mwanawasa has commended the lozi people for preserving the Kuomboka traditional ceremony.

Mr Mwanawasa said this was important because it signifies the passing on of culture
from one generation to another.

The President added that culture was a unifying factor which brought people from different walks of life together.

The President said this when he addressed thousands of people who attended this year's Kuomboka ceremony at Limulunga winter palace of the Litunga yesterday.

And President Mwanawasa has sympathized with  the people of Western province at the devastating effects of the floods.

He observed that the floods have caused untold misery to the people in the province adding that many buildings such as rural health centres, roads, bridges and
classrooms collapsed.

Mr Mwanawasa said government is putting up plans to rehabilitate such infrastructure destroyed by floods countrywide.

The President also disclosed that construction of Shangombo district hospital was expected to be completed this year.

The President also said his government will ensure relief food is sent to all parts of the country affected by floods.

He said he was doing everything possible to assist the people of Lukulu following their complaints that he had neglected them.

Meanwhile, President Mwanawasa thanked the people of Western province for the overwhelming support to his party during last year's tripartite elections in which
he won a second term in office.

ZANIS

Vice President Rupiah Banda has called on the ruling MMD members to work hard and win back Lusaka.

Mr. Banda who is also National Excutive Committee Trustee of the MMD says the party should organise itself and recapture Lusaka.

He said MMD members should walk with their heads high because they are in the ruling party.

The Vice President was speaking in Lusaka today during the MMD Lusaka District party card renewal for 2007.

Mr Banda said there was need for party members to treat each other as one family , sacrifice and give generously for the party to remain strong.

He urged party members to eliminate gossip and lies in the party and focus their attention on mobilising and organising the party in readness for the next elections.

He said there is need for the party to be selfless and humble to the electorate.

The Vice President also thanked the MMD for giving him the position of party trustee and pledged his total support and that he will do his job to the best of his ability.

Mr. Banda who donated K3 million to the party, said card renewal execise provided an opportunity for members of the party to show their solidarity.

And speaking at the same function, MMD Lusaka District Chairman Paul Chihande said the ruling party was handicapped in terms of mobility.

Mr. Chihande appealed to the the Vice President to assist in sourcing for vehicle to help in party mobilisation in the district.

He assued the Vice President that the party will capture all future elections in Lusaka.

Meanwhile Vice President Rupiah Banda was today among hunderds of people who attended the Thanks-Giving and Memorial service for the late Dr. Simon Mwewa at the United Church of Zambia, UCZ, in Kabwata.

Two former republican vice presidents Enock Kavindele and Dr. Nevers Mumba also attended the memorial service of the late Dr Mwewa who was member of the former ruling party UNIP.

ZANIS