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Monday, 3 September 2012

NCZ funding woes

Government today released K42bn to the Nitrogen Chemicals of Zambia, as it struggles to keep the ailing parastatal together (see below). The move follows government failure to find an equity partner, as was recently noted by Agriculture Minister Chenda. No one wants to buy into it, so it is now looking for money - possibly through external borrowing. The company needs above K1.6 trillion. Agriculture Minister Chenda has previously said this is unaffordable because it is more than the total budget of his ministry. 
2012 Budget Releases - Ncz 42 Billion

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