$40m from the ZR $120m Eurobond diverted, MD Attanga steals K36,000

$40m from the ZR $120m Eurobond diverted, MD Attanga steals K36,000

Government has failed to pay back the $40 million (about K280 billion nonrebased) money diverted from the $120m Eurobond allocated to Zambia Railways.
AtangaThe railways company’s rehabilitation exercise risks failing, while company managing director Muyenga Attanga has irregularly paid himself K36,000 ‘settlement’ allowance contrary to company regulations.
Financial records availed to the Zambian Watchdog indicate that Finance minister Alexander Chikwanda directed the diversion of the money in December 2013 to pay civil servants under the cover up of paying back but government has no capacity to pay. Officials from the company have called on donors to seriously look into this glaring abuse for fear that the planned rehabilitation of the company will fail.
“We fear that more money will be abused and put the company into problems if the donors don’t move in. This government cannot manage the economy and while government has not paid the former Railway systems of Zambia (RSZ) benefits they are busy getting recapitalization funds, this is one key reason why they quickly shifted the head office to Lusaka they want to siphon all the money,” said a well placed official.
Meanwhile Attanga, who used his wife’s petticoat to get the job has defrauded the company of K36,000 in settlement allowance. Attanga directed the unqualified puppets he has appointed as directors to pay him the money, claiming that he had shifted to Kabwe and later relocated to Lusaka. The puppets he used are Director Human Resources Davies Mukonkela, Head Human Resources Chuchu Mwanabaleya, Company Secretary Patrick Musonda and Director Finance Elijah Nyirenda.
In case readers wonder how Attanga who calls himself ‘Professor’became MD for Zambia Railways, he is the husband to PF deputy secretary general Bridget Attanga who has a long lasting relationship with useless justice Minister Wynter Kabimba. Apart from Nyirenda who has a degree in Accountancy from Copperbelt University (CBU) the other puppets are not qualified and are kept in the job by Attanga so that he can abuse resources, we shall have a specific day on their education background, watch the space.

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