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ZSIS wanted to partner with AFS in Ndola Lime acquisition – Kabwe

ZSIS wanted to partner with AFS in Ndola Lime acquisition – Kabwe
By Maluba Jere
Wed 09 Dec. 2009, 04:01 CAT

FORMER Access Financial Services director Faustin Kabwe yesterday told the Lusaka Magistrates’ Court that the Zambia Security Intelligence Services (ZSIS) expressed interest to work with Access in acquiring Ndola Lime Company.

During continued cross examination led by dissolved Task Force on Corruption prosecutor Mutembo Nchito, Kabwe testified that AFS and ZSIS were going to acquire Ndola Lime as partners.

This is in matter where former finance minister Katele Kalumba, former finance permanent secretary Stella Chibanda, former director of budget Boniface Nonde, former finance chief economist Bede Mpande, former Secretary to the Treasury Professor Benjamin Mweene and former directors of Access Financial Services Limited (AFSL) Kabwe and Aaron Chungu are facing corruption charges.

Kabwe also told the court that AFS had an ordinary banker-client relationship with ZSIS.

He explained that Access also had a relationship with Mere Care and Desai in the UK.
He added that all foreign based transactions were done through Mere Care and that ZSIS was one of their clients.

“The Zambia Security Intelligence Services just like any other client would send money to Access Financial Services through Mere Care and Desai,” he said.

However, Kabwe said Mere Care and Desai was the one holding money for ZSIS and not AFS.

He denied having ambitions for a partnership with the Office of the President but that his company was involved in other transactions with the intelligence.

Kabwe further told the court that he never benefited from any transactions or contracts between Systems Innovations and Willbain which were entered into with the Zambian intelligence service.

He said AFS was going to get 20 per cent commission on a contract with Systems Innovations through a company where he was a majority shareholder but maintained that the relationship with the OP was that of bank and client.

Kabwe also testified that he wrote to Mere Care and Desai to authorize a payment of US $10 000 to Chibanda’s son, Reggis.

He explained that he did that because Mere Care was holding funds on behalf of a client who AFS represented.

Kabwe added that he did not know anything concerning the transaction relating to the acquisition of Chibanda’s farm contrary to the allegation.

Asked by Nchito why he never bothered to find out what the transaction was about even after he faced allegations of having corruptly played a role, Kabwe said there was no cause for him to query a transaction carried out by his officers during their course of duty.

“As Chief Executive Officer of Access Financial Services, I did not have to deal with every transaction. AFS was not a one-man’s show,” said Kabwe.
Defence in the matter continues today.

Labels: ACCESS FINANCIAL SERVICES, FAUSTIN KABWE, NDOLA LIME

posted by MrK @ 6:26 AM