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President Michael Sata has ordered that all
exports need to be cleared by the Bank of Zambia.
He has further called for investigations into
the sales of Finance Bank and the former state-owned phone company, ZAMTEL.
Mr Sata has said today at State House that
there is need for transparency and reduced corruption as regards the southern African
nation’s exports.
He has noted that Zambia is richly endowed
with mineral wealth however the majority of people remain poor.
And Mr Sata has also ordered that deals done
during his predecessor Rupiah Banda’s presidency be investigated.
These include the sale of Finance Bank Zambia
to First National Bank, a unit of FirstRand of South Africa and LAP Green
Networks of Libya’s purchase of a 75 percent stake in ZAMTEL.
Meanwhile, Mr Sata has further appointed
Lawyer, Wynter Kabimba to head the investigations into the energy regulation
Board.
He made the decision
after announcing the dissolution of the energy regulator’s board.
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