CDF Funds mopped, repatriated to Central Bank
By Amb. Emmanuel Mwamba
Town Clerks and Council Secretaries in Municipalities and Councils, have confirmed that all CDF funds were repatriated to the Bank of Zambia last month and mechanisms and guidelines of how to draw the money required have not been given or implemented.
All funds in Commercial Bank Accounts to the Credit of Ministries, Provinces, Government Agencies(MPAs) were mopped to the Mopping Account at Bank of Zambia.
This was done effective Monday, 30th January 2024, making the Ministry of Finance implement a measure called;
“ZERO-BASED BALANCE” (ZBB) on Government bank accounts in
Commercial Banks.
This measure has recalled all Government funds, project funds and CDF.
The Ministry of Finance and National Planning stated that this was a cash management arrangement for Commercial Bank Accounts
maintained by Ministries, Provinces and Agencies.
The Ministry stated that it did this pursuant to section 7 (z) of the Public Finance Act No. 1 of 2018.
The Treasury observed that Ministries, Provinces and Agencies were
maintaining about K12 Billion in various bank accounts at commercial banks on a monthly basis.
Both the Ministry of Finance and Bank of Zambia have implemented various harsh fiscal and monetary measures to limit cash circulation.in the economy, keep inflation rate low and attempt to control the run-away and volatile exchange market.
GOVERNMENT recently released K21 million Constituency Development Fund (CDF) to three out of 156 constituencies to implement projects for 2024.
The three constituencies that have received the funds are Pemba, Vubwi and Lufwanyama. Pemba constituency received K8 million, Lufwanyama constituency received K7 million while Vubwi constituency received K6,140,191.06.
Ministry of Local Government and Rural Development Permanent Secretary Maambo Hamaundu said Government has changed the system of sending funds to constituencies and is now only disbursing upon request.
We saw the folly of taking these huge sums to Constituencies without planning, implementation, monitoring and control… and people talked about this…but of course the great leader thought it was a novel idea.
then you leave professionals at the central government drinking tea…and no projects by the central government..
Uncoordinated and Haphazard Police Stations, Schools( 1 x 3 class room schools!) Clinics( make shift) while the Central government ministries are just watching.
CDF is a drain hole with sub standard projects…the Kwacha Welensky ‘ Kaffir ‘ Toilets type of projects… Which President worth his position can commission those things???
Decentralization is a massive undertaking…It requires proper planning, Capacity building, and resources…not the Chibuku type of policy Hakainde introduced. CDF enhancement is a failed policy.
Related to this is the new curriculum the government intends to introduce..This again requires a major over haul of the whole education system..from Kindergarten to Universities. The Ministry of Education meanwhile has gone to sleep. Come December, they will wake up to implement a quarter baked idea. What a government!
CDF increment is a failed project,
Free education equally is a failed project it was done in a hurry
Employing a lot of civil servants is not building the economy
You better keep quiet you have got nothing say PF criminals
These sackers are really Permanent Fools
What is Emmanuel Mwamba talking about? It seems this Emmanuel Mwamba lacks intellect and understanding on public financial management matters. His ignorance has reached alarming levels whereby he continues hallucinating on any issue