Connect with us

Metro

Zambia, France sign bilateral agreement on debt restructuring under G20 framework

Published

on

Zambia and France have signed what has been described as a landmark bilateral agreement on debt restructuring, which is a critical step in the country’s economic recovery following the Memorandum of Understanding (MoU) reached in October 2023 under the G20-Paris Club Common Framework for Debt Treatment.

Zambia’s Secretary to the Treasury, Felix Nkulukusa, who made the announcement in a statement on Sunday, said the agreement would also pave the way for a comprehensive debt treatment aimed at supporting Zambia’s economic recovery.

Zambia Monitor reports that Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, and France’s Head of Multilateral Affairs at the Ministry of Economy, Finance, and Industry, Mr. William Roos, signed the agreement on behalf of their respective governments.

According to Nkulukusa, the bilateral deal was the first of its kind following the MoU and sets the stage for negotiations with 15 additional creditor countries.

Once concluded, he stated, the agreements would address Zambia’s debt sustainability challenges, enhancing fiscal space for economic and social investments.

He further stated that the agreement is expected to strengthen Zambia’s efforts toward economic recovery, social development, and sustainable growth.

Musokotwane who expressed gratitude to France, the G20, and the Paris Club for their commitment to resolving Zambia’s debt issues, noted that the agreement underscores the importance of international cooperation in addressing challenges faced by developing nations.

French Ambassador to Zambia, Thomas Rosignol, and Head of Regional Economic Department for Southern Africa, Thibaut Dornon, accompanied Roos during the signing ceremony.

While speaking at the agreement signing ceremony, Roos said:

“This agreement reflects our shared commitment to fostering economic resilience in Zambia and advancing the principles of fairness and inclusivity under the G20 framework.”

Metro

10 persons on FBI wanted list arrested in Nigeria– FG

Published

on

The Nigerian government has confirmed that at least 10 persons who were on the wanted list of the Federal Bureau of Investigation (FBI) and on the watchlist of the Interpol have been arrested while attempting to sneak into Nigeria.

Minister of Interior, Olubunmi Tunji-Ojo, who revealed this during the unveiling of the Technology Innovation Complex at the Nigeria Immigration Service headquarters, Abuja on Tuesday by President Bola Tinubu, said the wanted persons were arrested after intense intelligence.

The minister said the newly-installed facility at the centre would ascertain the risk level of persons entering the country, detect irregular migration patterns, and monitor unmanned borders in hard-to-reach areas nationwide.

“In the last couple of days, there were 10 people who were on the interpol and immigration wanted list who were apprehended in one week,” Tunji-Ojo told the President.

“Before now, those people would have entered Nigeria, caused terror. But we have now told them that under the new leadership, Nigeria is a no-go area for any criminal element,” he explained.

Tunji-Ojo further stated that aside from an installed solar power plant of 0.5KWs, 250 trained officers maintain eight-hour shifts to monitor the borders round the clock.

“We decided to do an end-to-end solution. One that has an energy solution to power this facility. The 0.5KW solar power plant is 100 per cent ready here and it has been connected to the facility to power it.

“Also, the human factor is fundamental because you can build a structure, but how about the human element?

“What we’ve been able to do is to train 250 officers. As I speak, we run shifts of eight hours three times a day which is 24/7 surveillance,” he said.

Continue Reading

Metro

Zambia: Ex-President Lungu alleges political manipulation after barring from 2026 poll

Published

on

Former Zambian President, Edgar Lungu, has described his ban from participating in the 2026 presidential election by the Constitutional Court as political manipulation rather than constitutional principles.

Lungu who reacted to the decision of the court to bar him from future elections, described the verdict as anticipated but reflective of political interference but vowed to focus on a ‘Plan B’ strategy following the Constitutional Court judgment.

Lungu who bared his mind in a statement issued on Tuesday in Lusaka, said the verdict was anticipated but reflective of political interference.

“We find ourselves at a critical juncture in our nation’s history, a moment marked by deep reflection and, I dare say, a profound sense of our common identity and destiny. The verdict rendered today was expected,” Lungu stated.

“For months, the hands of political manipulation have, with undeniable force, steered us toward a conclusion foreseen not by the merits of reasoned argument or constitutional fidelity but by the weight of orchestrated design and political machinations.”

Lungu however, urged Zambians to revisit the sequence of events leading up to the judgment, claiming his exclusion from politics was driven by calculated political interventions.

“It began with a petition that sought to exclude me from the political arena—not through the natural verdict of the people on the ballot paper, but by the calculated intervention of political forces sponsored by political players,” he explained.

The former president also accused unnamed actors of restructuring the judiciary to achieve their objectives.

“Yes, specific judges were expelled in order to retain specific judges specifically for today’s judgment! We saw decisions cloaked in procedural justifications concocted by that same unmistakable hand of expediency.

“Of course, we all witnessed calculated judicial reshuffles by politicians for their plan to land here today.

“Democracy, my fellow citizens, is not merely a system of governance but the lifeblood of our national identity.”

Lungu also announced that a “Plan B” had been initiated and would focus on upholding the power of the people.

“Plan B will prove that no machination can extinguish the power of the Zambian people and that institutions must serve the public, not the ambitions of a few,” he emphasized.

Continue Reading

EDITOR’S PICK

Tech9 hours ago

Huawei launches cloud service in Nigeria

Global technology company, Huawei, has launched its first African hyperscale local cloud service in Nigeria, making it the first international...

Sports9 hours ago

FIFA officially confirms Morocco 2030 World Cup co-host

World football governing body, FIFA, has officially confirmed Morocco as the co-host of the 2030 world cup along with Spain...

Politics17 hours ago

Officials report fight between Somalia’s Jubbaland region, central govt

After Jubbaland staged an election against the advice of the Mogadishu administration, officials claimed on Wednesday that fighting had broken...

VenturesNow17 hours ago

Egypt’s November inflation drops to 25.5%, near 2-year low

According to figures released Tuesday by statistics agency CAPMAS, Egypt’s annual urban consumer price inflation rate fell more than anticipated...

Metro18 hours ago

10 persons on FBI wanted list arrested in Nigeria– FG

The Nigerian government has confirmed that at least 10 persons who were on the wanted list of the Federal Bureau...

Metro18 hours ago

Zambia: Ex-President Lungu alleges political manipulation after barring from 2026 poll

Former Zambian President, Edgar Lungu, has described his ban from participating in the 2026 presidential election by the Constitutional Court...

Metro1 day ago

Eight killed, scores injured in Egypt’s collapsed apartment building

At least eight people have been confirmed killed, while an unspecified number were injured after an apartment building collapsed on...

Tech1 day ago

SunCulture partners Turaco to empower Kenyan farmers with affordable climate insurance

Kenyan solar-powered irrigation solutions startup, SunCulture, has joined forces with leading mass-market insurtech company, Turaco, to launch a platform called...

Video2 days ago

Video: Nigeria’s Vice-President Shettima questions Badenoch’s migration stance

In this video, Nigeria’s Vice President, Kashim Shettima, lends his voice to the trending issue of migration in the global...

Musings From Abroad2 days ago

French army begins Chad pullout

Just two weeks after local authorities said they were terminating their defence collaboration, the French army announced that jets deployed...

Trending