‘Zamtel in need of funding’

GOVERNMENT says Zamtel may need short-term financing from co-operating partners or investors that are ready to invest in Zambia.
Ministry of Transport and Communication permanent secretary Misheck Lungu is however, optimistic that Zamtel will recoup its strong financial position through its current assets.

Commenting on whether Government has intentions to recapitalise Zamtel, Mr Lungu said the institution is a business entity which should operate as one.

“It is important for Zamtel to change its mind-set. Management should look at Zamtel as a business and not a baby that should depend on Government,” he said.
Speaking in an interview, Mr Lungu said Government wants Zamtel to survive because it is a national entity and liquidating assets is not part of its agenda.
He said Government will change the financial position of Zamtel using its current assets.
He said Government does not need to spend money on parastatals but encouraged companies to be innovative and become profitable.
Mr Lungu also urged the public to be patriotic and support the local network by subscribing to it.
“Zamtel has the privilege of being a national network, everywhere you go, even in the rural areas there is a structure for Zamtel: Zamtel can use these same assets to make money and recover financially without Government pumping in money,” he said.


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