Another reason why the economy is biting

Most Zambians are complaining of the biting economy. The weakening Kwacha is the order of the day. Economists and government officials say Zambia has to increase its exports if the Kwacha has to perform better. However, there is one point which our learned Economists have not told us that is contributing to the poor performance of the Kwacha.

CORRUPTION IN THE ROAD SECTOR

Though this may sound very trivial, corruption in the way State House in particular is running the Roads Development Agency (RDA) is contributing to the weakening economy. It is not a secret that all major roads contracts being undertaken by Chinese Contractors have Zambian third parties involved. It is not the Chinese who are bidding for tenders directly, It is Zambians who have no capacity even to construct a toilet who bid for tenders. Once they win the tenders, they sell them to Chinese contractors. This means that the total amount is inflated. For example to tar 1 kilometer of a road, it normally costs K1 million rebased but these PF thugs get contracts from RDA at about K1.4 million per Kilometer. This means that government is paying more to contractors by about K500,000 per kilometer. Multiply this by the many kilometers of roads under the Link Zambia 8000. The major beneficiaries in these deals are the RDA chairman himself Willie Nsanda and President Sata’s son Mulenga and Sata’s son in Law Chimwemwe Sichinga who is also son to Commmerce Minister Bob Sichinga.

OFFSHORE ACCOUNTS

The PF PLUNDERERS are different from the MMD plunderers. The MMD plunderers if there were any since no one has been convicted re-invested the money in the local economy. This is different with the PF thugs. They are not re-investing in the country. They have opened off-shore accounts. This means that hard cash is disappearing from the country and is helping develop foreign countries. It is important therefore for people of Zambia to know that corruption in the current PF government may actually be the biggest reason why our Kwacha is not perfoming well. The PF vultures are exertanilising the illegally obtained Kwacha. They convert it into foreign currency and bank it outside mother Zambia. Money is also being siphoned from parastatals like Zamtel, ZESCO,NAPSA and many more through inflated tenders.

How much is ZESCO Limited paying for a ten tonne truck of electricity poles from Zimbabwe as compared to what Zesco was paying for during the MMD government? Are our economists sleeping?

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