RABO Bank Executive PANICS “Sale Of ZANACO Was TRANSPARENT”

A Rabo bank executive had a tough time explaining the composition of the Zambia National Commercial Bank board to the Sebastian Zulu led Commission of Inquiry on the sale of the bank.

Appearing this morning Monday 2/6 before Commission of Inquiry, Kuijpers Arnold had difficulties in explaining whether the boards composition tally with the shares that both the Zambian government and Rabo bank have in ZANACO.

Mr.Arnold has however described the privatization of ZANACO as successful.

He says ZANACO has also continued to add value to the country’s development process.

He says despite the bank having an international firm as it’s shareholder,ZANACO remains majority owned by Zambian shareholders.

Mr Arnold adds that the process of purchasing the 49 percent stake in ZANACO by Rabo bank was transparent.

He says the bank was awarded the 49 percent stake in ZANACO because it was willing to leave to the expectations of the Zambian government.

Posted by Editor on February 6, 2012. Filed under LATEST NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

15 Responses to RABO Bank Executive PANICS “Sale Of ZANACO Was TRANSPARENT”

Nshendi

February 6, 2012 at 6:11 pm

Fair enough
Namutekenya

February 6, 2012 at 6:44 pm

Ba Tumfweko but what was tough? We were not ther so please shed more light!(Or was it that it was grapevine and you too have no facts?)
Juku1

February 6, 2012 at 7:18 pm

Tumfwe! why are u not publishing my aticles?u said advertising is free.be serious ayi.what is your problem?
ANNOYED

February 6, 2012 at 7:34 pm

****** editor…WHAT WAS TOUGH ABOUT WHAT HE SAID.YAWN STORY
Zibwidi

February 6, 2012 at 10:20 pm

Yaaawnnnn!!!!!
KIBWELA KASONGO

February 7, 2012 at 12:38 am

I marvel at how fast our government under several parties can move quickly to reverse the possesion of this or that company, regardless of whether it is private or parastatal. I strongly want to believe that government is concerned for the many employees that may in lose their jobs in the process, but the other part of me tells me that the party in power knows where its bread is buttered.
Can someone in the government(PF) please enlighten me on why the local airlines are always falling victim to political neglect? Infact I would love to know whether the government of the people, by the people and for the people is genuine in ‘closing’ or causing to close all these airlines that started with Zambia Airways,followed by Zambian Express, Aero Zambia,Zambian Airways and now Zambezi Airlines?
Which company could operate without owing any institution any money? Infact government is the biggest borrower!

I would also love to hear what the same government would say about private airlines like Proflght. They are private too and may be owing but why are companies owned by indigenous Zambians always affected? Who suffers in the end? Highly trained Zambian Engineers and pilots whose careers are in serious turbulence. Please think again and stop making innocent Zambians suffer for hidden agendas.
Remember, Zambians are watching you very closely.
Shaka

February 7, 2012 at 2:44 am

Nevers Mumba is a money laundering machine.

He abuses tax payers money and fires anyone who gets in his way. He and Mr Nzoya (the deputy at the high commission here in Ottawa) have been stealing money to buy luxury cars for them selves in Ottawa;they travel around the globe for personal reasons then finance them through the mission.

They fired Mr Tembo because he was against this and sent him back to Zambia. they also have an office slut ( carolina rodriguez ) working for them and she abuses the Zambian mission’s money by offering her physical body to diplomats.

this is such a shame; abusing hard earned tax payers money
Kalok

February 7, 2012 at 7:58 am

Iwe Shaka kabiye kuli ba Tax Fors and tell them what you have just written. Bazakumanga ngati unama mambala… Meantime, ZANACO seems to have its fate written at the end of the dots that are being joined. Time will tell…
Fantastic

February 7, 2012 at 10:28 am

At the rate this govt is handling sensitive issues,we will be worse than Zimbabwe before end of this year.
Everything is chimbwi no plan
Elephant Njovu

February 7, 2012 at 10:47 am

iwe shaka tako lyobe with that story of yours, clearly you have nothing to offer, go to DEC with your facts ala shaa!
Patrick Chiwele

February 7, 2012 at 11:17 am

Our government is trying to put things in order, cino calo balyonaula bapompwe so iwe kolwe ngauyebaati we shall become like Zim then you are a FOOL!
REAL MAN

February 7, 2012 at 11:22 am

Utumalyashi twa mu bwalwa.
Zambia 4 Ghana 3

February 7, 2012 at 12:37 pm

So 51% is owned by the Zambians, why is the board not reflecting shareholding, so who holds the financial control of the company and appointments of directors more. Is it Rabo or government?No wonder he was bitting around the bush.Something is fishy here
Chief nyenga of the tomba pipo

February 7, 2012 at 1:00 pm

I wish i didn’t vote 4 th bally 2 mch tok nd nufin 2 sho 4 it.bemba’s suck
kams in Kitwe

February 7, 2012 at 3:36 pm

BREAKING NEWS IN KITWE. THE MUZ PRESIDENT IS DEAD. HE DIED IN THE ROAD TRAFFIC ACCIDENT ALONG ROAD ROAD, THE BODY LIES IN WUSAKILE MINE HOSPITAL. MAY HIS SOUL REST IN PEACE.