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Zambia refutes report of Chinese firms taking over public assets due to debt

Xinhua | Updated: 2018-09-09 19:19
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LUSAKA -- The Zambian Government on Saturday refuted a media report that it was in talks with Chinese companies for the latter to take over public institutions due to debt.

Chief government spokesperson Dora Siliya tweeted a denial of the report that said the government was seeking to sell some public assets, pointing out that some of the China-funded projects had not even been completed.

"Govt's position is that all stories relating to sale or takeover of public assets such (as) ZNBC (state broadcaster), Kenneth Kaunda International Airport, and ZESCO (power utility) by China are false," she said on Twitter.

"ZNBC digital migration and KK AIRPORT projects not even complete yet. How then can one refer to loan default in view of grace periods?" she asked.

Last week, the African Confidential fortnightly reported that talks were underway for a Chinese firm to take over Zambia's power utility due to debt.

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