…ZESCO, KKIA, ZNBC have not been collateralized.. they are on a sovereign guarantee..

by Staff,


Minister of Finance Margaret Mwanakatwe has expressed shock and frustration at the continued propaganda by the opposition leaders that the Chinese government has taken over ZNBC, ZESCO AND KK International Airport.

And Former Republican President H.E Rupiah Banda said he was becoming fatigued of responding to questions about the purported sale of the airport and ZESCO by people outside Zambia and has urged Zambians to protect the image of the country by not issuing reckless statements which can impact on the country’s economy.

And Mrs Mwanakatwe who is also Lusaka Central Lawmaker says despite the negative talk, Zambia’s economy has continued to grow at 4% adding that Zambia’s Eurobond was the best performing soverign bond on the market according Bloomberg.

Speaking, Sunday, when she made her debut appearance on the PF interactive forum, Ms Mwanakatwe cautioned against portraying the country in bad light to the external world.

“Let’s not portray this country in bad light to the external world. Look at the Eurobond, because of all these falsehoods that we have given Zesco to the Chinese…How dare you tell the world such a lie that we have given the Airport (KKIA)which is not even finished, that we have given it to the Chinese? How dare you tell such a lie about your own country? That we have given Zesco to the Chinese,” wondered Hon. Mwanakatwe

“How can you tell such a lie?
where was the Eurobond? 17% because of boza, falsehood!”

Meanwhile, the finance minister has clarified that government has not defaulted on any of its external debt.

“And I want to state categorically that the PF government has not and will not default on any of it external debt. we will ensure that every month when it’s time to pay the debt we will pay. when it’s time to pay the Eurobond bond we will pay”

She stated categorically that even in an event of a default it was impossible for any lender to take over the state assets because they were not offered as collateral.

” You will find that when people talk about ZESCO being taken by the Chinese… they can not because we have a sovereign guarantee which we have put on a special purpose vehicle, outside of ZESCO. So ZESCO has not been collateralized at all. in this special purpose vehicle we have given a sovereign guarantee. The same for ZNBC, the for (KK) international Airport.

Ms Mwanakatwe has urged all well meaning Zambians to speak well of opportunities that in the country.

“Zambia’s bond is the best performing bond now according to reuter Bloomberg. for me that is confidence that this economy is heading in the right direction.I urge all well meaning Zambians to speak well of opportunities that in our country

Ms Mwanakatwe disclosed that government will not be complacent with the economy growing at 4% adding that her ministry is aiming for 8 or 9%.



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