THE Development Bank of Zambia (DBZ) has taken legal action against Chita lodge for failing to settle over K100 million it got to from the institution to build a resort in Samfya. When DBZ appeared before the Committee on Parastatal Bodies, Tuesday, Mafinga member of parliament Robert Chabinga wondered why DBZ has taken long to institute legal proceedings against Chita Lodge while his Luena counterpart, Mubita Anakoka, wondered why the bank had not repossessed the lodge by now. In response, Ministry of Finance Permanent Secretary for Economics and Finance Danies Chisenda said the bank does not rush into taking legal action against its clients before other avenues are exhausted. Chisenda said legal action was the last resort when the promoter...

Membership Required

You must be a member to access this content.

View Membership Levels

Already a member? Log in here