By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily NationDaily NationDaily Nation
  • Home
  • News
    News
    Stay informed with the latest breaking news, in-depth analysis, and exclusive reports from around the world. From politics and global affairs to science, technology, and…
    Show More
    Top News
    Chisenga Katongo urges declaration of ‘Kaunda Day’
    June 20, 2021
    Evelyn Hone launches 2022-2026 strategic plan
    February 24, 2024
    Kafubu Water owed K91m in unpaid water bills by government institutions
    February 25, 2023
    Latest News
    Explain Tayali’s return, Changala demands
    July 20, 2026
    ConCourt petitioned to clarify candidate withdrawals
    July 16, 2026
    Mundubile not arrested, says DEC, trashes social media claims
    July 16, 2026
    ZCCM-IH hires global advisers for listing drive
    July 15, 2026
  • Business
    Business
    Your go-to source for the latest in business, finance, and the economy. Stay ahead with market trends, corporate insights, and expert analysis on entrepreneurship, investments,…
    Show More
    Top News
    China stock swoon could boost US real estate
    March 6, 2025
    Why homeowners are leaving billions on the table
    March 6, 2025
    Lock in now! Stock sell-off sinks mortgage rates
    March 6, 2025
    Latest News
    Sugilite wasn’t stolen – NPA
    July 24, 2026
    CEC Powering Zambia’s Renewable Energy Future and the Journey to 10,000 Megawatts
    July 20, 2026
    Outsourcing can help fulfil job creation promises, says entrepreneur
    July 20, 2026
    BoZ explains delays in Investrust payouts
    July 16, 2026
  • Court News
    Court NewsShow More
    ConCourt petitioned to clarify candidate withdrawals
    July 16, 2026
    Kabesha seeks court clarity on independent candidates
    July 2, 2026
    Court extends Mwamba’s bench warrant
    June 24, 2026
    Over 1000 expatriate teachers sue Gov’t, demand US$1.3bn, K7.5bn
    June 19, 2026
    15 arraigned in court over Chawama fracas
    June 19, 2026
  • Sports
    SportsShow More
    creation.Copper Queens wind up Algeria camp with friendly
    July 22, 2026
    Bernadette Deka Zulu lands top global position
    July 3, 2026
    Immig FC caps dream debut season with trophy presentation to immigration chief
    July 2, 2026
    July 2, 2026
    July 2, 2026
    Foloko underscores Zambia’s active role in efforts to safeguard fair play, transparency in sport
    July 2, 2026
  • Contact
Search
NEWS
  • News
  • Local News
  • Politics
  • Health
  • Court News
  • Tie Business
  • Biz & Corporate
  • Contact Us
  • Privacy Policy
© 2026 Daily Nation Zambia. All Rights Reserved.
Reading: ‘Fictitious creditors draining state resources‘
Share
Sign In
0

No products in the cart.

Notification
Font ResizerAa
Daily NationDaily Nation
0
Font ResizerAa
  • Home
  • News
  • Business
  • Court News
  • Sports
  • Contact
Search
  • News
  • Local News
  • Politics
  • Health
  • Court News
  • Tie Business
  • Biz & Corporate
Sign In Sign In
Follow US
© 2026 Daily Nation Zambia. All Rights Reserved. Developed by GOPES.
📖 Read ePaper
Daily Nation > Blog > News > Breaking News > ‘Fictitious creditors draining state resources‘
Breaking NewsExchange RateNewsStock Exchange/Money Markers

‘Fictitious creditors draining state resources‘

Daily Nation
Last updated: October 29, 2021 2:14 pm
Daily Nation
Share
3 Min Read
SHARE

By SIMON MUNTEMBA and ADRIAN MWANZA

ZAMBIA is losing a lot of money in paying fictitious creditors, President Hakainde Hichilema has said.

President Hichilema disclosed that the country had been losing a lot of money through procurement of expired drugs and overpayment.

The Head of State said this when he swore in four office holders at State House yesterday who comprised   Martial Muchende as the new Solicitor General, Mulilo Kabesha as the Attorney General, Felix Nkulukusa as Secretary to Treasury and Denny Kalyalya as Bank of Zambia Governor.

Mr Hichilema said he was shocked at what he has discovered in the past two months as Republican President.

“This country is losing a lot of money. A lot of money is lost on paying fictitious creditors. People who have supplied air to Government are paid millions of dollars. People who have supplied expired drugs are paid millions of dollars. 

“Sometimes, one invoice is paid twice or three times. We need to address this issue.  The illegality around this issue  is causing Zambia to lose millions of Kwachas which ought to go to the youths, the sick and retirees,” President Hichilema said.

The President urged the four office holders to help his administration bring to an end the illegalities in the country. 

Meanwhile, President Hichilema has called on the newly appointed Bank of Zambia Governor Denny Kalyalya to be aggressive in dispensing his duties to help revamp the economy.

- Advertisement -
Ad imageAd image

Mr Hichilema said that his government would give the new governor all the support and that there was political will to do the right thing.

He said aggression coupled with the political will would help him deliver because the economy needed to be improved. President Hichilema said Dr Kalyalya’s appointment was critical and that it was up to him to ensure that the bank was put back on track. Dr Kalyalya, President Hichilema said,  was not new to the bank but that things had changed because this time around there was political will from  government.

“The good news is that you are not learning new things but I know you faced some challenges because you did not have the support to operate the bank properly,” Mr Hichilema said.

He said the governor needed the central bank to play its role which was to support growth of the economy.

He urged the new Attorney General and Solicitor General to ensure that there was no excessive delay in the delivery of justice.

He said that justice delayed was justice denied hence the need to ensure that they helped the country by ensuring that such processes were expedited.

You Might Also Like

Chimwemwe MP Warns WDC’s 

ZAMBIANS IN SOUTH AFRICA GET FISH-FARMING TIPS

Government challenged over LGBT advocacy

STOP THAT HESITANCY

PROMOTE VALUE ADDITION FOR MUKULA, GOVT URGED

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Copy Link Print
Previous Article SENSE AT LAST
Next Article Memorial campaigning slammed

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
56.4kFollowersFollow
4.4kFollowersFollow
- Advertisement -
Ad imageAd image

Latest News

Sugilite wasn’t stolen – NPA
Business Premium
July 24, 2026
Shamenda denies predicting Mundubile’s defeat
Local News Premium
July 24, 2026
Release ZNBC journalist, Mukuka – Amnesty International
Premium
July 24, 2026
THE CHURCH AND THE STATE
Politics Premium
July 23, 2026
//

We influence over 2 million readers and are the most preferred news platform in Zambia.

Quick Links

  • Politics
  • Court News
  • Health
  • Millennium TV

Top Categories

  • News
  • Local News
  • Politics
  • Health
  • Court News
  • Tie Business
  • Biz & Corporate

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Daily NationDaily Nation
Follow US
© 2026 Daily Nation Zambia. All Rights Reserved. Developed by GOPES.
  • Contact Us
  • Privacy Policy
Join Us!
Subscribe to our newsletter and never miss our latest news, podcasts etc..
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?