Proposal to Close DBZ
By Amb. Emmanuel Mwamba
I was sad to hear Secretary to Treasury, Mr. Felix Nkulukusa telling the Parliamentary Accounts Committee (PAC) that government could consider closing down the Development Bank of Zambia (DBZ)!
The purpose of the Development Bank of Zambia is to provide medium- and long-term capital for productive investments, and often accompanied by technical assistance.
This is one of the ways we can industrialise as a nation.
Commercial Banks can never play this role.
Infact this role has been undermined by various factors including failure by Government to adequately fund the DBZ.
Further, loan beneficiaries have failed to pay back and DBZ doesn’t effect robust recovery processes.
What we need are proper reforms and not shutting down this entity.
Bane, the IMF will destroy this country and they will do it, like they do it, through our own brilliant minds.
And the IMF sits back and says it was your decisions!
