President Michael Sata has told Finance Minister Alexandra Chikwanda that he can not resign because he would be prosecuted for corruption during the rebasing of the Kwacha as he is suspected to have received huge gratifications from companies that printed and minted the new Zambian currency.
Sources at State House revealed that Sata told Chikwanda on Wednesday night that it was easier for him to protect his uncle from possible prosecution while serving as Cabinet Minister unlike when he was an ordinary citizen.
The source said President Sata has intelligence reports from the parallel structure on how Chikwanda, Bank of Zambia governor Dr. Michael Gondwe and his Deputy Dr. Bwalya N’gandu met some representatives of foreign companies at 8 Reedbuck a Lodge in Lusaka’s Kabulonga area before the tender was even advertised.
The source said Sata used this information including reports that Chikwanda has interest in one of the emerging Copper Mines to blackmail Chikwanda and stopping him from resigning.
The source said Chikwanda is also alleged to have been lobbying investors to invest in Appolo Park a company he owns at the detriment of government. Further, the President reminded Chikwanda that he influenced ZANACO to appoint his daughter in-law Chimango Chikwanda as Director of Human resources when the bank did not advertise the position and Chimango did not apply.
Chimango is married to Bweembya Chikwanda who is commercial director at Lafarge Cement.
“He told Chikwanda that his enemies in government can easily prosecute him on all these allegations if he was outside government as it would be difficult for the President to protect him and this is not the first time Chikwanda has resigned. He has before buy you guys did not pick it up” a source said.
The source said Chikwanda also has issues to explain on procurement of fertliser from Saudi Arabia as Zambia was supposed to pay US$ 330 per tonne but Chikwanda authorised payment of US $ 388 per tonne.