ZNBS Bought Manu Building from African Life Insurance at K89m ( $5.7million)-NAMA
ZNBS Bought Manu Building from African Life Insurance at K89m ( $5.7million)-NAMA
Zambia National Building Society -ZNBS Immediate Past Board Chairperson DAVID NAMA has refuted claims that ZNBS bought a property called MAANU CENTRE at Elunda Park at 10 million United States dollars.
Dr NAMA says the board bought the property at 89 million Kwacha or the equivalent of $5.7MILLION dollars at the exchange rate then.
He says this transaction was approved by the board and the procurement committee after the property was advertised for sale in the press on December 28, 2021.
Dr NAMA said this at a press briefing in Lusaka in response to allegations by opposition politician MILES SAMPA that the property was bought at 10 million United States dollars.
Dr NAMA has also explained that the Society Business Park was sold to NAPSA on December 30, 2020.
He says the sale of Society Business Park to NAPSA was approved by Cabinet before the property was sold in April 2021.
Dr NAMA states that the sale was not done by the UPND government but that it was approved by the former Finance Minister BWALYA NG’ANDU and cabinet of the PF administration.
He has pointed out that at a time of the sale of Society Business Park , the society was receiving 69,000 Kwacha per month as annual Concession to unlock capital.