According to a story carried by the PF Post newspaper yesterday, the party has incorporated a limited liability company called Ilunda Chalo Investment and President Michael Sata has since appointed James Matale as acting general manager.
James Matale is the husband to CCZ general Secretary Reverend Suzzane Matale. Reverand Matale has always been acucsed of being a PF cadre.
In an interview, Patriotic Front general secretary Wynter Kabimba said the party had taken a position that it would not abuse any public financial resources to finance its activities. See story here
But PF insiders have told the Watchdog that most of the foreign investors that the president is currently wooing abroad will have to partner with this company that is linked to the ruling party in almost all sectors of the economy.
According to Mr. Kabimba, the PF company, Ilunda Chalo Investment, would partner with individuals or other companies and invest in areas such as mining, agriculture, tourism, infrastructure development, consultancy and many other areas.
Recently, Works and Supply Minister Yamfya Mukanga, said the PF will give contracts and priority to Zambian companies.
The sources said the PF company is also aligned to the recently formed Muchinga Foundation that was launched to mobilise resources for the development of Sata’s Muchinga province.