News

Zambia cancels $500 million Zesco loan guarantee

Mwanakatwe

CATHERINE MUMBA, Lusaka
MINISTER of Finance Margaret Mwanakatwe has recalled and cancelled a sovereign guarantee of US$500 million which was issued in favour of Stag African Investments Limited to give Zesco Limited a loan.Stag African Investments Limited is a company incorporated in Zambia.
Secretary to the Treasury Fredson Yamba said in a statement yesterday that Stag African Investments Limited and Zesco Limited entered into a loan agreement through which the company agreed to make available a loan of US$500 million to the utility.http://epaper.daily-mail.co.zm/

Facebook Feed

Ad1