Maravi

PF setting up company is good idea, but there're risks - Kachingwe

PF setting up company is good idea, but there're risks - Kachingwe
By Moses Kuwema and Fridah Nkonde
Wed 17 Oct. 2012, 13:00 CAT

MMD national secretary Major Richard Kachingwe says the setting up of a company by the PF is good idea but that there are risks involved.

And Anglican priest Father Richard Luonde says the formation of a company by the Patriotic Front is a milestone in Zambian politics.

Commenting on the decision by the Patriotic Front to register a company called Ilunda Chalo Investment, Maj Kachingwe (left) said the MMD did the same thing when they formed a company called MOPED but that it left the party in debt.

"There are risks involved; first of all they will be tempted to make money and they will use government facilities because it's very difficult …or they will ask for favours in one way of another and it will be a source of problems. MMD went the same way and today, MOPED, we don't even know what happened to it.

Nobody can stand up today and tell us what happened to it, we got embroiled with Meridean Bank, with Chibote and we don't even know what happened," he said.

Maj Kachingwe said cited South Africa's African National Congress party which he said had a lot of investments in companies.
He said the idea also keeps parties in power away from temptations.

"Even for the MMD at that time, I think it was a good idea but it was mismanaged. I don't know the history but what I know is that there are debts that we have been dealing with arising from MOPED. I don't know how the party was attached to it (company) because it was a company limited by shares, but it ended up with the party," Maj Kachingwe said.

Asked if the MMD had any plans of setting up a company now that they were no longer in power, Maj Kachingwe said the party had ideas on the table to start investments and would want to create as many traditional sources of income as possible.

"It is just like parastatals, that is why even the donors and cooperating partners insists that we must dismantle as much…in fact, they told MMD to dismantle parastatals because one, they become conduits for corruption because they normally get instructions from politicians. Even party properties, anybody gives instructions, it does not belong to one particular person, so people don't care much about it.

So it is quite difficult but I wish them well to start such a project as long as it is independent but there is also this fear that in the world of competition, you may use your status to influence business," Maj Kachingwe said.

And Fr Luonde said Ilunda Chalo Investment would in a way help the PF not to use government funds in party matters.

"MMD went all the way in misusing funds meant to benefit Zambians because they had no other sources of money apart from government. We therefore commend the PF for the initiative and we just pray that the company comes to fruition. The plans should not just be on paper," he said.

Fr Luonde said it was evident that the PF would still remain a formidable opposition even after getting out of power because they would still have money to run party structures.

He said most of the political parties went into extinction just after getting out of power because they found it difficult to access funds.

Labels: PF, RICHARD KACHINGWE, RICHARD LUONDE

posted by MrK @ 6:07 PM