• Contact
Monday, May 12, 2025
  • Login
The African Business - News About African business
  • Home
  • EconomyNew
    China remains Africa’s largest bilateral trading partner, accounting for 20% of the region’s exports and 16% of its imports.

    African nations may face pressure as China warns against U.S.-aligned trade deals

    afb

    The African Development Bank Group (AfDB) is rolling out Special Agro-Industrial Processing Zones (SAPZs) across Africa

    ua

    Trump cuts see main African health agency turn to local funding

    Trending Tags

  • Business
    de beers

    De Beers to shut down lab-grown diamond brand Lightbox

    cannabis

    South Africa to revise cannabis food laws amid public backlash

    BFA

    BPI expects to earn over €95 million from partial sale of BFA in July

    Alcides Andrade, anpg

    ANPG has already awarded over 40 new concessions in various oil blocks

    nvidia

    Africa’s first AI factory, backed by Zimbabwean billionaire and Nvidia, to cost $720 million

    elon musk

    South African minister accused of trying to ease ownership law for Elon Musk’s Starlink

    copper

    Copper prices surge as Trump signals 25% tariff on imports

    bmw

    BMW SA reintroduces third shift, says there is growing local interest in PHEV model

    zim

    Zimbabwe seeks $950m in new bid to kick-start mining firm

  • Finance
    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

    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

  • Opinion
  • Lifestyle
  • Sports
  • Green Economy
No Result
View All Result
  • Home
  • EconomyNew
    China remains Africa’s largest bilateral trading partner, accounting for 20% of the region’s exports and 16% of its imports.

    African nations may face pressure as China warns against U.S.-aligned trade deals

    afb

    The African Development Bank Group (AfDB) is rolling out Special Agro-Industrial Processing Zones (SAPZs) across Africa

    ua

    Trump cuts see main African health agency turn to local funding

    Trending Tags

  • Business
    de beers

    De Beers to shut down lab-grown diamond brand Lightbox

    cannabis

    South Africa to revise cannabis food laws amid public backlash

    BFA

    BPI expects to earn over €95 million from partial sale of BFA in July

    Alcides Andrade, anpg

    ANPG has already awarded over 40 new concessions in various oil blocks

    nvidia

    Africa’s first AI factory, backed by Zimbabwean billionaire and Nvidia, to cost $720 million

    elon musk

    South African minister accused of trying to ease ownership law for Elon Musk’s Starlink

    copper

    Copper prices surge as Trump signals 25% tariff on imports

    bmw

    BMW SA reintroduces third shift, says there is growing local interest in PHEV model

    zim

    Zimbabwe seeks $950m in new bid to kick-start mining firm

  • Finance
    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

    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

  • 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

China remains Africa’s largest bilateral trading partner, accounting for 20% of the region’s exports and 16% of its imports.

African nations may face pressure as China warns against U.S.-aligned trade deals

21/04/2025
9
afb

The African Development Bank Group (AfDB) is rolling out Special Agro-Industrial Processing Zones (SAPZs) across Africa

21/04/2025
4

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

Premier League: Keith Hackett ranks every top-flight referee so far this season

Premier League: Keith Hackett ranks every top-flight referee so far this season

3 years ago
2
Ghana slams ‘leviathan’ ratings agencies after Moody’s downgrade

Ghana slams ‘leviathan’ ratings agencies after Moody’s downgrade

3 years ago
1
EU replaces travel ban on South Africa with testing requirements

EU replaces travel ban on South Africa with testing requirements

3 years ago
4
African Energy Week October Dates set in stone with exploration for energy and energy poverty on agenda

African Energy Week October Dates set in stone with exploration for energy and energy poverty on agenda

3 years ago
3

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

  • De Beers to shut down lab-grown diamond brand Lightbox
  • South Africa to revise cannabis food laws amid public backlash
  • BPI expects to earn over €95 million from partial sale of BFA in July

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