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Magande ACQUITS Himself From ZANACO Sale “I was Busy With The Country’s Problems To Concentrate On The Privatization Of ZANACO”
Magande
Former finance minister in the late president Levy Mwanawasa’s Government Ng’andu Magande says he was too busy with the country’s problems to concentrate on the privatization of ZANACO.
QFM News reports that appearing before the Sebastian Zulu commission of inquiry this morning, Mr Magande who is believed to be the architect of the ZANACO privatization said Zambia was facing many economic problems at the time for him to concentrate on the sale of the bank.
He has however admitted signing the final sale and purchase agreement for ZANACO.
Mr Magande said it would not have made sense for him to preside over a transaction that only involved a few million dollars.
He says among the issues that kept him busy at the time were issues to do with debt burden Zambia was encountering.
Mr.Magande has since denied influencing the privatization of ZANACO.
And Juvelis Tembo told the commission of inquiry that while he was the chairperson of the negotiating team on the sale of ZANACO he was not involved in the bidding process.
Qfm
Posted by
okonko
February 3, 2012 at 5:15 pm
First 2comment.wapya munzi.ignorance has no dfence.
Dai Whang
February 3, 2012 at 5:18 pm
Mmmmm bamudala, are you sure….
say what!
February 3, 2012 at 5:35 pm
ifi meno uku bola!liars the whole lot of you!
nakferd
February 3, 2012 at 5:45 pm
short circute affects every operating system,thats what i know.
Wanyafye Tigers 6 Reggae Boys 1
February 3, 2012 at 6:06 pm
You cannot be too busy to do what you have been employed to do or for what you ought to do.
If my male chicken/ mukolwe/cockerel at my farm was to tell me “boss, I am too busy to sleep with the chickens” that would be the day we would have him for dinner!!!!
Zibwidi
February 3, 2012 at 6:55 pm
Ignorance is no defense to say that you never knew what was happening…… Liar at your age……
Seethat
February 3, 2012 at 7:52 pm
In the law of contract, if one party to the contract is unaware of the pertinent issues involved, he can plead ignorance and or misrepresention.This then means there’s no meeting of minds.In that case the contract is voidable- it’s an invalid.
top kat
February 3, 2012 at 7:54 pm
magande,u vehemently defended th sale of zanaco.r u nw sayn u ddnt understand that which u so furiously defended.police arrest ths character
atm
February 3, 2012 at 9:17 pm
Village boy magade wilapupa nalikujindika sana
mary
February 3, 2012 at 9:41 pm
magande cant be a thief, he is too smart for that!!
Mth
February 3, 2012 at 10:24 pm
mmm bamudala mwalikwi
Phiri j
February 3, 2012 at 11:30 pm
Magande is correct in such a way to wat hapened to me, i work 4 Zanaco during they tym we were sining 4 a contract they jst brout so many papers & we were told to sign minus reading wat was inside. As went to our home only to discover its comision if u open 100 a/c’s meaning 4000 by 100= 400 pin as a salary per month. Yet u hav brout potential clients in bank & they mek milions of money. Rabo vry foolish, pipo sitted in their offices get 20 million & u bringin customers or money u ar underpaid. Anywy, kambwili its bad tht u ar fired.
sil
February 10, 2012 at 2:11 pm
Can you trust such people and elect them president?