Securities and Banking, Financial Services Bills flop: We need to consult more – MoF
THE parliamentary committee for planning and budgeting has rejected the Securities Amendment Bill on grounds that it contains provisions that maybe detrimental to the proper functioning of capital markets by expanding the Commission’s powers while reducing its accountability in how it conducts its mandate. The Committee has also rejected the Zambia Institute of Banking and Financial Services Bill on the basis that the financial sector is already regulated by the Bank of Zambia, Securities and Exchange Commission and the Pensions and Insurance Authority, whose mandate extends to setting standards of behaviour for the individual entities and respective markets. Meanwhile, Finance.......
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Lessons from Katete: he who laughs last, laughs long
WHEN we saw pictures and video clips of anti-riot police officers being clobbered and humiliated like common criminals in Katete last week, we knew that this would not end well. Very few people in the world do that to police officers and get away with it. Even armed robbers know that when you kill a police officer, your own death lurks in your shadow because they don’t rest until they take you out. Police may have been wrong, but was that reaction necessary? It is true that the conduct of police officers, in most instances, leaves much to be desired. Our men and women in uniform have a way of enforcing the law which sometimes only they understand. This is why conflicts between the police and members of the community are so common. It is a fact that police stations in Zambia act as small claims courts. Police officers bestow themselves the duty of attorney and judge. Their way of adjudicating is mostly inspired by pocket economics. He who has the means finds a way to secure ‘justice’. This is why a poor person can easily be assaulted by a rich man and also get locked up by the police. This is the method that rich people use to get away with crimes in the hands of the police. Suspects who have rich or influential connections don’t stay long in police custody. Regarding the Katete incident. The picture that has been painted is that the people of Katete and Kamwaza village in particular don’t have any regard for the police. It is easy to believe this, but that is not true at all. When we look at the background of.......
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ECZ appointees Chipenzi, Zaloumis too close to UPND – TIZ
TIZ has urged recently appointed ECZ Chairperson and Commissioner Mwangala Zaloumis and McDonald Chipenzi to publicly renounce any known association with UPND and to assure citizens that they will serve with professionalism and integrity. In a statement, Friday, Transparency International Zambia chapter president Sampa Kalungu said ECZ was the referee in the electoral process, hence any real or perceived bias in any of its officials had the potential to cause citizens to lose trust in it. “Transparency International Zambia (TI-Z)…….
Our Extreme National Poverty is the Blessing we Need to Reinvent Ourselves into a Happy Prosperous People!
It is true that most desperate people resort to desperate means, to escape their desperation. Until life escapes our bodies, we humans have the capacity to manufacture infinite options to escape suffering, pain and death. Funny, it is also true that this desperation, treated as doing what is necessary to overcome threats to our lives and to expand life’s options, becomes the mother of inventions. An abundance of desperation makes it absolutely necessary that human beings invent new ideas and....
