Things are just ok in Zanaco – Scott

VICE-PRESIDENT Guy Scott says Zanaco has continued to operate normally and is recording steady growth despite a commission of inquiry constituted to investigate the sale of its majority shares to Rabobank of Netherlands, according to the PF controlled Daily Mail.
Dr Scott said assertions that there is tension at the bank following the constitution of an inquiry are unfounded.  He said Zanaco’s capital has grown to over US$102 million and that 54 percent of the bank’s shares are locally owned.
“We are not aware of the tension in the bank because it is growing leaps and bounds despite the commission of inquiry,” Dr Scott said.
He said this in Parliament yesterday during the Vice-President’s question time.
He was responding to a question from Liuwa member of Parliament (MP) Situmbeko Musokotwane (MMD), who wanted to know why Government has delayed in releasing the report on the commission of inquiry on the sale of Zanaco shares.
Dr Musokotwane said the delay in releasing the commission’s findings is creating instability at the bank.
But Dr Scott said the bank’s operations are still going on smoothly despite the commission of inquiry’s report not having been released yet.
And Dr Scott said once the report is made public in due course, it will be tabled before cabinet for consideration of the findings.
Dr Scott said this in response to a follow-up question from Solwezi West MP Humphrey Mwanza (MMD), who wanted to know if Government is aware that the silence over the report of the Zanaco commission of inquiry is scaring investors.

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