THE latest Auditor General’s report on parastatal bodies has revealed that as at December 31, 2023, Zamtel owed various local and foreign suppliers and other institutions amounts totalling K2,995,504,146. According to the report, K1,189,428,482 was owed to local creditors while K692,478,323 was owed to foreign creditors. Meanwhile, the report has revealed that as of December 31, 2023, subsidiaries under IDC’s portfolio had assets valued at K24.8 billion. However, four companies namely Zambia Daily Mail, Superior Milling Limited, Zamtel and ZCCM-IH had a negative balance sheet status as the total liabilities exceeded the total assets. The report disclosed that Zamtel recorded operating losses of K391,898,000 in 2021, K430,255,000 in 2022, and K599,504,000 in 2023. “During the period under review, Zamtel recorded...