Q FM Africa's Modern Radio
Transparency International Zambia (TIZ) has encouraged government to audit all institutions that benefited from the US$750 Eurobond in order to promote accountability in the use of public funds.
Goodwell Lungu
TIZ Executive Director Goodwell Lungu has since welcomed the announcement by Transport and Communications Minister Kapembwa Simbao that Zambia Railways Limited will be audited to ascertain how the US$120 million given to the railway company was utilized.
Mr. Lungu has however, encouraged government not to limit the audit to ZRL alone but extend it to other institutions that benefited from the proceeds of the Eurobond.
He says this will raise confidence and trust in the minds of the people in the utilization of public funds.
Mr. Lungu adds that auditing all institutions that benefited from the loan will also help government to know all the shortfalls in the utilization of these funds.