Commerce, Trade and Industry Minister Margaret Mwanakatwe has admitted that she owes the Citizens Economic Empowerment Commission (CEEC) K 1.5 million through AluWorks Industries, a company she co-owns with her her legal husband Mupanga.
Mupanga Mwanakatwe is Managing Director for ZAMTEL. Mwanakatwe worked as Barclays Bank Managing Director in Zambia, Ghana and also worked in Nigeria before she was fired for incompetence. She later tried some small banks in East Africa but could not cope until Rupiah Banda told Edgar Lungu to appoint her as minister.
On Sunday, Zambian Voice Executive Director Chilufya Tayali revealed that Mrs Mwanakatwe has defaulted on the loan sheobtained in 2011.
Mwanakatwe has since admitted that AluWorks borrowed the fund for business expansion whilst she was out of the country. She is clearly blaming her husband for obtaining loans in her name while she was out of the country.
She however wondered why Mr Tayali has decided to expose the debt which she feels is a purely private matter. How can failing to repay
public money be a private matter? Then why ate they pursing Fred M’membe and Mutembo Nchito over Development Bank of Zambia Loans?
“That is an old issue, that loan was obtained when I was not even in the country. Where is he getting all these things? Obviously from public records.
Tell Mr Tayali not to drag me into these things. This is a malicious attack on my integrity,” she said.
Mrs Mwanakatwe said Mr Tayali’s revelations are some of the things that make professionals stay away from politics.
“This is the reason why professionals like me don’t enter politics. There is so much mudslinging in Zambian politics and this scares away people like me from serving our country,” Mrs Mwanakatwe said.
Real professional pay back loans but quacks do not.
According to the Citizens Economic Act No. 9 of 2006, the Commission was principally created to uplift the targeted citizens who have suffered marginalization.
It is also meant to level the playing field and raise the citizens to a position where they can effectively participate in the national economy, above all, it is meant to ensure especially the women, youth and physically challenged.