In a significant real estate transaction, the Zambian government has acquired a four-storey building, formerly occupied by MTN and located next to Citi Bank on Plot #4647, Rhodespark, for approximately $10 million. The purchase was facilitated through the Zambia National Building Society (ZNBS), an institution traditionally tasked with providing affordable housing for ordinary Zambians.
The building, situated in the Elunda Park area towards the Addis Ababa Roundabout on Beit Road off Chikwa Road, was previously owned by Africa Life Insurance (Aflife). The sale has raised serious concerns about potential conflicts of interest, given that Aflife is associated with individuals holding significant power within the government.
Conflict of Interest Concerns:
Critics argue that the involvement of Aflife, with its connections to top government officials, presents a conflict of interest. The Oxford Dictionary defines a conflict of interest as a situation where an individual stands to gain personal benefits from actions or decisions made in their official capacity. Such concerns are heightened when public resources are at stake, and the integrity of the transaction comes into question.
Questions for ZNBS and Aflife:
- ZNBS: The Zambia National Building Society is urged to confirm or deny the details of this transaction. There is a call for transparency regarding the actual purchase price, both declared and undeclared, and the source of funds used for the acquisition. Given ZNBS’s financial challenges and its struggle to provide mortgages to ordinary citizens, questions are being raised about the necessity and rationale behind purchasing a private property at what appears to be an inflated price.
- Aflife: Africa Life Insurance is also being challenged to address the conflict of interest concerns. The public is demanding clarity on how Aflife’s ownership and the transaction might have influenced the deal. The involvement of private entities in public transactions necessitates scrutiny to ensure that no personal or vested interests compromised the public’s financial interests.
Calls for Accountability:
Miles B. Sampa, Member of Parliament and President of the Patriotic Front (PF), has called for a thorough investigation into the matter. Sampa asserts that when public funds are involved, it is imperative to scrutinize the transaction to ensure accountability and transparency. He has pledged to follow up with a video of the building to provide further insight into the transaction.
This issue underscores the need for rigorous oversight in public transactions to maintain trust and integrity in the management of public resources.
For further details and inquiries, please contact:
Miles B. Sampa, MP
President, Patriotic Front (PF)
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Seblif TV
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