• Contact
Saturday, October 18, 2025
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    nigeria

    Nigeria in talks with China for $2bn loan for super grid

    REFINARIA de cabinda distição, Marcelo Hofke, CEO da Gemcorp Angola

    Newly Inaugurated Cabinda Refinery Awarded Downstream Operator of the Year in Luanda

    china

    Africa is becoming one of China’s favorite markets, and Trump may have helped

    Trending Tags

  • Business
    dhl

    DHL plans to invest €300m to expand logistics in Africa

    kenya airways

    Kenya Airways takes off on locally made jet biofuel in bid to attract green investment

    vodacom

    Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

    multichoice

    French media giant Canal+ to list in South Africa after $3 billion MultiChoice takeover

    refinery

    Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start

    dangote

    Dangote’s wealth rebounds to $29 billion despite domestic pressures, on cement and refinery growth

    Arthur Eze

    Nigerian billionaire to invest $800 million in four offshore oil blocks in Liberia

    elon musk

    Elon Musk is a step closer to becoming a trillionaire. Here’s a look at his rising wealth

    Multichoice logo on building 900x675

    South Africa’s MultiChoice set for new ownership as $3bn takeover deal gets green light

  • Finance
    Standard Bank

    South Africa banks curb lending over climate-related default risks, study finds

    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    nigeria

    Nigeria in talks with China for $2bn loan for super grid

    REFINARIA de cabinda distição, Marcelo Hofke, CEO da Gemcorp Angola

    Newly Inaugurated Cabinda Refinery Awarded Downstream Operator of the Year in Luanda

    china

    Africa is becoming one of China’s favorite markets, and Trump may have helped

    Trending Tags

  • Business
    dhl

    DHL plans to invest €300m to expand logistics in Africa

    kenya airways

    Kenya Airways takes off on locally made jet biofuel in bid to attract green investment

    vodacom

    Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

    multichoice

    French media giant Canal+ to list in South Africa after $3 billion MultiChoice takeover

    refinery

    Africa’s refining capacity expands as Uganda’s $4 billion oil refinery nears 2030 start

    dangote

    Dangote’s wealth rebounds to $29 billion despite domestic pressures, on cement and refinery growth

    Arthur Eze

    Nigerian billionaire to invest $800 million in four offshore oil blocks in Liberia

    elon musk

    Elon Musk is a step closer to becoming a trillionaire. Here’s a look at his rising wealth

    Multichoice logo on building 900x675

    South Africa’s MultiChoice set for new ownership as $3bn takeover deal gets green light

  • Finance
    Standard Bank

    South Africa banks curb lending over climate-related default risks, study finds

    Armando Jorge Mota

    Armando Jorge Mota Announced as New CEO of Sanlam Angola Seguros

    Nigeria asks banks to save forex gains amid currency risks

    Nigeria asks banks to save forex gains amid currency risks

    PayPal finally launches Apple Pay support for its credit and debit cards

    PayPal finally launches Apple Pay support for its credit and debit cards

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    TLG Capital launches ₦2.25B collateralized credit facility for OnePipe

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    Silicon Valley Bank: Global bank stocks slump despite Biden reassurances

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    [Kenya] Digital credit provider Tala disbursed Sh240 billion in loans in eight years

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Digital banking revolution can help SA banks regain their customers’ love, says BCG

    Nigeria launches payments card program to rival Visa and Mastercard

    Nigeria launches payments card program to rival Visa and Mastercard

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
The African Business - News About African business
No Result
View All Result
Home Economy

The decision of Zambia’s president to sell his private jet for a cheaper one is being met with backlash

TAB by TAB
02/12/2022
in Economy
0
The decision of Zambia’s president to sell his private jet for a cheaper one is being met with backlash
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

The decision of Zambia’s president to sell his private jet for a cheaper one is being met with backlash

Zambia’s president plans to sell his presidential jet, an asset he deems un-necessary.

Related posts

nigeria

Nigeria in talks with China for $2bn loan for super grid

08/10/2025
5
REFINARIA de cabinda distição, Marcelo Hofke, CEO da Gemcorp Angola

Newly Inaugurated Cabinda Refinery Awarded Downstream Operator of the Year in Luanda

07/09/2025
5

Zambia’s head of state, Hakainde Hichilema, has disclosed plans to sell the country’s presidential jet, purchased by the country’s previous administration, in the months leading up to Hakainde Hichilema’s inauguration.

During his time in office, the former president of the country, Edgar Lungu, had purchased the $193 million jet. The jet is said to have been purchased under highly controversial circumstances.

The current president Hakainde Hichilema revealed his intent on recovering the $193m (£160m) that was spent purchasing the Gulfstream g650.

He noted to a judiciary conference on Tuesday, that the amount spent on the plane was a highly unnecessary expense and a much cheaper alternative with similar capabilities could easily suffice. His preferred budget for the utility is at least $100 million less expensive.

“We do not support that extravagance, because we could have gotten a plane of capability, in terms of range, reliability for around $20 million,” Hakainde Hichilema said.

“So why did we have to spend $193 million on that piece of metal? We could have looked after the judiciary… we could have also bought a lot of school desks for the kids, we could have also invested in one or two border posts,” he added.

However, the president’s decision, regardless of how noble and admirable it seems, poses some complications. The Zambian air force has rejected the president’s decision to sell off the plane, noting that it is a military asset and not state owned.

Also amongst the public is the opinion that selling the jet undermines the security of their president. Others however have applauded the President’s intent.

Regardless, the controversial debacle has caught the attention of the country’s anti-corruption body, which has launched an inquiry into circumstances of the jet’s purchase.

The agency announced on Wednesday that it is investigating the feasibility of the former administration’s ability to buy the jet at an inflated price, instead of “the then $65m standard price.

The decision of Zambia’s president to sell his private jet for a cheaper one is being met with backlash

Source: Africa Business Insider
Previous Post

South Africa Barloworld’s car-rental unit sees valuation of US$260M on Listing

Next Post

Aliko Dangote the richest man in Africa just got richer

Next Post
Aliko Dangote the richest man in Africa just got richer

Aliko Dangote the richest man in Africa just got richer

RECOMMENDED NEWS

Uganda expects its debt load to reduce and its economic growth to increase by 7%

Uganda expects its debt load to reduce and its economic growth to increase by 7%

3 years ago
3
Sonamet

Work Starts on a New FPSO For Angola’s Newfield Deepwater Development

2 years ago
12
diamond

Angola: Sodiam to Auction 46 Special Diamonds, Six of Which are from Lulo

1 year ago
7
Gemcorp to Invest $10 Billion in Private Credit Push Into Africa

Gemcorp to Invest $10 Billion in Private Credit Push Into Africa

3 years ago
13

BROWSE BY CATEGORIES

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Ads

Categories

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized
The African Business - News About African business

We bring you the best Premium news about African Business.

Follow us on social media:

Recent News

  • DHL plans to invest €300m to expand logistics in Africa
  • Kenya Airways takes off on locally made jet biofuel in bid to attract green investment
  • Africa’s second-largest telecom operator to invest $29 million in 5G expansion in South Africa

Category

  • Business
  • Economy
  • Finance
  • Green Economy
  • Lifestyle
  • Opinion
  • Sports
  • Uncategorized

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Business
  • Finance
  • Opinion
  • Lifestyle
  • Sports
  • Green Economy

© 2021 The African Business