• Contact
Sunday, February 5, 2023
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Trending Tags

  • Business
    Shell oil tanker questioned over payment of losses and damages

    Shell oil tanker questioned over payment of losses and damages

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

  • Finance
    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

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Zimbabwe cuts world’s highest interest rate as inflation eases

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Convergence Partners raises $296 million to drive digital inclusion across Africa

    Trending Tags

  • Business
    Shell oil tanker questioned over payment of losses and damages

    Shell oil tanker questioned over payment of losses and damages

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

    Richest African man building fourth cement plant in Nigeria

    Richest African man building fourth cement plant in Nigeria

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    World’s Richest Rankings: Aliko Dangote maintain his position as Africa’s richest man

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Global tech billionaires eye Zambia’s electric vehicle battery mines

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa will have 57 million pay TV subscribers by 2028, report

    Africa startups defy funding slump as debt financing fuels growth

    Africa startups defy funding slump as debt financing fuels growth

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Port of Maputo achieves new handling record, sees soaring chrome throughput

    Court told Anglo turned blind eye to Zambian lead poisoning

    Court told Anglo turned blind eye to Zambian lead poisoning

  • Finance
    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

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    Mastercard and ZoodPay join forces to launch the first virtual installment card across EEMEA

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    MoneyGram joins forces with BOTIM to launch international money transfer to over 200 countries

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    There was a 25% increase in finance app installs across Africa between 2021 and 2022

    Yellow Card expands payment feature across Africa

    Yellow Card expands payment feature across Africa

    Government starts payment of $674,5 trillion matured securities

    Government starts payment of $674,5M matured securities

    South African rand steady with investor focus on Fed minutes

    South African rand steady with investor focus on Fed minutes

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

    South Africa recently declared bitcoin and other cryptocurrencies to be financial products

  • 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
2
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

Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

Zanzibar’s president is looking to make horticulture a significant part of his country’s economy

03/02/2023
1
Zimbabwe cuts world’s highest interest rate as inflation eases

Zimbabwe cuts world’s highest interest rate as inflation eases

03/02/2023
1

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

Rev Njue: Children are better imitators than listeners

Rev Njue: Children are better imitators than listeners

1 year ago
4
Mental health screening at school can reduce chaos

Mental health screening at school can reduce chaos

1 year ago
4
Ethiopian Airlines set to fly to Atlanta

Ethiopian Airlines set to fly to Atlanta

2 weeks ago
2
Africa’s electricity boom seen needing $350bn investment

Africa’s electricity boom seen needing $350bn investment

11 months ago
5

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

  • Zanzibar’s president is looking to make horticulture a significant part of his country’s economy
  • Shell oil tanker questioned over payment of losses and damages
  • Africa: SEFA Grants $1 Million to Seven Countries to Develop Electric Mobility

Category

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

Legal Information

Terms and Conditions
Privacy Policy
Complaints Book

  • Contact

© 2021 The African Business

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

© 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