POOR FINANCIAL MANGEMENT SYSTEMS AT ZESCO
By Faston Mwale, SP Deputy General Secretary – Political
In an organized government, public finance administration is a specialized functional area ideally to ensure a judicious, effective accountability and control of public resources.
The erroneous transfer of $80millon to China is a classic example of what happens when public financial management and control system collapse.
The reigning social media saga of the erroneous transfer of $80m by ZESCO raises questions about how government agencies handle money. It immediately occurs to me that the structures for effective discharge of financial duties and responsibilities are seriously wanting at ZESCO.
ZESCO has a long history of scandals. It is at ZESCO where ghost employees were paid vast amounts of salaries.
In a country where public financial management and control systems have broken, instinctively giving rise to a climate of corruption and wanton looting of public resources, the matter cannot easily be put to bed by simply alleging an error of transposition. More explanation is needed to settle the rising dust.
In nearly all government agencies, there is a prima facie evidence of corruption, and this is a deeply concerning phenomenon. It is precisely the high incidences of corruption that poor service delivery is no longer an exception but a normality under the UPND government. Zambia is a small economy with an annual gross domestic product of around $33b.
This means that there is need to put in place more effective measures that entail meticulous handling of public resources. Zambia deserves better!
They are just conmen.
In which country can gold smugglers be accorded parking their private jet in the presidential slot? You wonder why the fake case got disposed off quietly.
Do not let them fool you that are better than PF when in fact they are a lot worse, busy stashing money in Panama.
Vote wisely in 2026.
Conmen who pay the debt they inherited lol the opposition needs to be serious. Even if they are conmen at least free education, cdf, social cash transfer, debt payments, dual carriage, debt restructuring on going. ZESCO’s debt has reduced from $1.4 billion to around $300 million from 2021 December to date. The mistake should not have been made but let’s not act like it was done on purpose to defraud the Zambians…..that payment needed to be paid whether now or in the future.
I have not heard any opposition loud mouth asking for an audit of all payments post debt restructuring agreements to make sure there is somewhere we could have saved money