Lusaka Businessman Writes To BOZ Governor Asking For Proof of $2.9 Billion In Reserves

Lusaka Businessman Writes To BOZ Governor Asking For Proof of $2.9 Billion In Reserves

A Lusaka businessman,Sean Tembo, has written to Bank of Zambia Governor Denny Kalyalya demanding that the Central Bank releases full accurate financial statements for the year 2013, 2014 and 2015.

In the letter dated February 15 2016 obtained in Lusaka, Mr Tembo is demanding that the statements be released for public use for verification purposes of the country’s foreign currency reserves.

Mr Tembo said he was prompted to write to Dr Kalyalya following an article in the Zambia Daily Mail of 12th February 2016 in which the Governor was quoted as saying that foreign reserves were intact at $2.9 million.

He further said he has strong doubts about the factual correctness of the said assertion with regard to the country’s foreign reserves.

“In order for me and my business plan and more accurately project the country’s economic outlook and business operating environment, I need comfort with regard to factual correctness of the figure for our country’s foreign reserves. In this regard, I am requesting for your bank’s full set of financial years ending 2013, 2014 and 2015. These documents will assist me to examine movements in our foreign reserves in the recent past as well as what the current position really is,” the letter read.

Mr Tembo noted that his doubts about the actual correctness of the assertions by the Governor should not be misconstrued as an attempt to cast aspersions on Dr Kalyalya’s professional integrity which he said he still holds in high esteem.