Settle K14 billion DBZ loan

THE Post Newspaper has been commended for settling its K26 million Zambia Revenue Authority (ZRA) tax that had accumulated over the last three years but has been challenged to consider liquidating the K14 billion Development Bank of Zambia loan acquired through the defunct Zambian Airways.

Patriotic Front (PF) former Lusaka district vice chairman Julius Komaki and his counterpart Rachael Chileshe said in the spirit of good corporate governance, it was important for Post Newspaper owner Fred M’membe, Director of Public Prosecutions (DPP) Mutembo Nchito and his brother Nchima Nchito to honour their DBZ loan obligations so that they could be clean.

Mr Nchito was on thursday arrested by police for among other offences, allegedly lying before the Parliamentary Select Committee, forgery of Court documents and fraudulently acquiring a loan from DBZ through the defunct Zambian Airways.

Mr Komaki said the trio had been avoiding to pay back the K14 billion DBZ loan by using the judicial system but that time had come for the money to be paid back so that it could be channeled to needy sectors such as health and education.

He told the Daily Nation that Mr M’membe had been pontificating sacredness on matters of corruption and yet he had been avoiding to meet his loan obligations.

Mr Komaki said since the Post Newspaper was a law-abiding institution, it was the expectation of Zambians that the DBZ loan could also be settled promptly because the money was for Zambians most of whom were living in abject poverty.

He said he was demanding that the Post Newspaper along with its partners settle the DBZ loan because it had taken too long to be settled.

“We sincerely commend the Post Newspaper because for a long time, we have been demanding that the orgainisation should honour its tax obligations with the Zambia Revenue Authority. We are happy that the Post Newspaper has listened to our demands but in the continued spirit of good corporate governance, it is important that the Post Newspaper along with its allies Mutembo Nchito and his brother Nchima settle the DBZ K14 billion loan.

That money they are refusing to pay belongs to Zambians most of whom are in abject poverty. K14 billion is a lot of money and the Treasury should do a lot especially in the health and education sectors,” Mr Komaki said.

He said the PF youths were giving the Post Newspaper and its allies time to settle the DBZ loan but warned that the youths were not going to allow the trio to continue frustrating Government’s efforts to deliver the best services to Zambians.

And Ms Chileshe said Zambians were not happy that the DBZ loan was still unsettled.

Ms Chileshe said it was the desire of the ruling party to see that those who owed Zambians money be made to account for their actions because Zambia was not a private enterprise for selected privileged citizens.

Categorized | Home News

2 Responses to “Settle K14 billion DBZ loan”

  1. George says:

    The Nation,
    You need a lot of work to catch up with the Post. My advice this is the time to do that.
    Just keep lunatics away from your Paper. Komaki and group won’t help you get serious sources like Jesuit, ministers and other serious people but not brener

  2. Ntehime says:

    How can the Post and Nchito
    brothers be made to pay Zambian Airways DBZ debt? Not even Mmembe and Nchito as individual directors of a dead Zambian Airways Co., which was deliberately & foolishly killed by the arrogant RB can be made
    accountable for such a debt … I see great ignorance of the law here!


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