TOP BOZ Official FIRED From Kwacha Rebasing Evaluation Team

ONE top Bank of Zambia (BoZ) official has been axed from the final kwacha rebasing evaluation team and faces disciplinary action for trying to influence the awarding of the final tender to mint and print Zambian currency to one named foreign company. And sources at the central bank have said the Kwacha rebasing exercise will cost K430 billion and ten tenders have already been evaluated and sent to the Zambia Public Procurement Agency (ZPPA) for final selection.
The final evaluating team was reconstituted after the named official was removed after investigations revealed that he had been wining and dining with representatives of a named company which offered to print security features for the Zambian currency.

Sources at the bank said three companies have tendered in their bids to mint the Zambian coins while seven companies have bidded to print the Kwacha notes.
The source said the foreign companies are from England, France, Germany, Swtzerland and Russia and named some of the companies as Thomas De La Rue International, Giesecke and Devrient.
Others are Goznak of Russia, Orell Fussli Security Printing Limited of Switzerland and the South Africa’s Bank Note Company (Pty) Limited. Government in January approved the Bank of Zambia (BoZ) recommendations to re-base the local currency by removing three zeros from all denominations of the kwacha.
“The scrutiny process has been finalised and the tenders sent to the ZPPA for final selection. However, a low mood has gripped the evaluating team which is demanding for disciplinary action to be taken against an official who almost awarded the tender to a named foreign company on his own” he said. He said the complaints about the misconduct of the official who has been accused of bringing the name of the bank into disrepute have been relayed to the top management and other members of the evaluating team are waiting for action.
He said the ZPPA has been asked to take extra caution when scrutinising the tenders to avoid corrupt practices prevailing during the shortlisting of the companies to carry out the exercise. “The K430 billion will cover costs for the publicity campaigns and other logistics but the figure is likely to increase with other over head costs being taken into consideration” he said. And Anglican Priest Father Richard Luonde has said the PF government should consider contracting a renowned company to print the new currencies regardless of the costs.
He urged ZPPA to be transparent in its selecting process if the Zambian currency was to be protected from any illegal activities such as counterfeit production.
Central Bank deputy governor Dr. Bwalya Ng’andu said the printing of the new re-based Kwacha notes was expected to commence next month after the Bank of Zambia (BoZ) signs a contract with the preferred printer.

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