K14m funding elates ZamPost
Published On January 10, 2015 » 2829 Views» By Davies M.M Chanda » Latest News, Stories
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zampost logoBy JACK MWEWA –
ZAMBIA Postal Services Corporation (ZamPost) is happy that Government has allocated K14 million in the 2015 Budget to recapitalise the corporation.
Postmaster General McPherson Chanda said ZamPost board and management appreciated Government’s gesture of allocating the said money as announced by Secretary to the Treasury Fredson Yamba.
“On behalf of the board, ZamPost management and staff, we would like to thank Government for allocating K14 million in the 2015 budget for recapitalisation of ZamPost as announced by the Secretary to the Treasury Mr Fredson Yamba,” said Mr Chanda.
He said the funds will be invested in projects that would generate positive cash flows as a way of sustaining the corporation which faces historical finance challenges.
Among other challenges are a backlog of unpaid retirees with resultant litigation costs and outstanding payments for some employees’ scheme loans contracted with other banks and financial institutions.

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