Sale Of Finance Bank To FNB Set To Be Reversed

The sale of Finance Bank Zambia Limited is poised to be reversed. Highly placed sources have disclosed this to Tumfweko.
The new Patriotic Front (PF) Zambian government under the leadership of President Micheal Sata is set and poised to reverse the sale of Finance Bank Zambia to FirstRand of South Africa.
However, New PF Matero Member of Parliament, Miles Sampa was Saturday Mid-Morning seen and spotted going to Mathani’s house which is above Finance Bank Headquarters purportedly to discuss how the process of re-acquisition will be handled.
During his last rally before the elections, republican President, Michael Sata was clear on the matter.
“Finance Bank had the largest branches in Zambia. Finance Bank doesn’t belong to Rupiah Banda and Caleb Fundanga (Bank of Zambia Governor).”
“Finance Bank was not under liquidation and therefore Rupiah Banda cannot sell it because the buildings of Finance Bank alone are more than K27 billion, ”
Sata said.
The sale of Finance Bank to FirstRand was sealed last week but it is not yet clear if FirstRand has already paid the money.
Tumfweko has not yet established whether the money has already been paid or not, Finance bank now belongs to FirstRand and the reversal of the sale will bring a new wave of controversies to the bank. It remains to be seen on what will be next.