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Thursday, 26 January 2012

ZRA Commission Report

Cabinet at its sitting on Wednesday 25th January, 2012 accepted without reservations the report on the findings of the Commission of Inquiry into the operations of Zambia Revenue Authority. Cabinet has reversed fraudulent procurements regarding Zambia Revenue Authority related contracts with Bradwell International, and Cargo Scan. Cabinet has also directed the reversal of the concession of the borders namely; Kasumbalesa, Nakonde, Jimbe, Kipushi, Mwami and Chanida and the reversal of tax concession offered to Varum Beverages Limited, the promoters of the Pepsi Zambia Project. The Ministerial Statement and ZRA Commission Report is embedded below.
Zra Commission of Inquiry - Final Report

Ministers Statement on Zra Commission of Inquiry


  1. While inherently this may right a wrong, the way in which these reviews have been conducted will deter foreign investment. There are strong risks associated with reversals. The Government could have chosen to sanction instead.

    Next up: Zanaco. A deal that has done good for the bank, the country, and its people. Let's see what happens.

    With all these reversals, where will the money come to pay the 100% salary hike that the rest of the civil service will soon start to demand?


    1. I don't think the ZANACO deal can be reversed because it is owned by many people. Rabo owns less than 50%. It is inconceivable that would happen!

    2. @Anonymous - Could you amplify what you mean by "The Government could have chosen to sanction instead."?

  2. Sorry, and just to add one more point, this will have quite strong consequences for Zambia's credit rating as well, which will further deter investment.


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