Saturday, 18 February 2012

GERMANY GOVERNMENT WARNS FOREIGN INVESTORS TO BE MORE CAUTIOUS WHEN THEY ARE ENGAGING IN BUSINESS TRANSACTIONS TO AVOID SITUATIONS LIKE THE CASE OF ZAMTEL

the germany government has warned foreign investors to be more cautious when they are engaging in business transactions to avoid situations like the case of zamtel where the government has repossessed the company.
germany ambassador to zambia frank meyke says foreign investors must pick up lessons from the zamtel saga by ensuring that they engage themselves in business deals which will not be questioned in future.
ambassador meyke says the stance which the current government has taken to fight corruption is sending positive signals to the outside world of how zambia is willing to fight corruption and put things in order.
he says the momentum and speed of fighting corruption must be kept running so that investor confidence levels are raised adding that investors will be more comfortable to invest in a country which is corrupt free.
the zambian government under the new leadership of president michael sata has nationalized zamtel after the commission of inquiry set up to investigate the sale of the company discovered that the 75 percent shares were fraudulently sold to lapgreen networks of libya.
and the new pf government has however indicated that it is not in a hurry to finding any equity partner after nationalizing the company but will do so when need arises as the company at the moment is stable

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