By Mubanga Mubanga
Zambia Institute of Chartered Accountants (ZICA) president Yande Mwenye says the forensic audit which was done at Zambia Medicines and Medical Supplies Agency (ZAMMSA) should be made public.
And ZICA has called on the government to withdraw the Lands Registry amendment Bill No 13 of 2025 and consult stakeholders before proceeding with the bill.
Speaking during a press briefing in Lusaka yesterday, Mwenye said making the forensic audit public will enable the public to benefit from the lessons in the audit report.
However, Mwenye condemned the theft and misappropriation of medicines at ZAMMSA.
She said the theft had negatively impacted Zambia.
“The Zambia Institute of Chartered Accountants (ZICA) wishes to commend the government of the Republic of Zambia, for conducting a forensic audit at ZAMMSA. We trust that the findings have revealed weaknesses in the internal controls. Our appeal to the government is that the PricewaterhouseCoopers forensic report should be made public,” Mwenye said. “This is to ensure that we all benefit from the lessons learnt as a nation, to avoid matters that may have led to the cancellation of funding by the United States of America government. We hope that there will be urgent reforms, stronger accountability, and transparency mechanisms in the country’s medical supply chain.”
And Mwenye said ZICA was concerned with the Lands and Deeds Registry Bill because it was giving sweeping powers to the chief registrar of lands to cancel a land title without due process.
“However, as ZICA we would like to express concerns that we deem extremely significant, over the specific provisions in the bill that … the Chief Registrar sweeping powers to cancel a certificate of title without due process. The bill grants the Chief Registrar of Lands the authority to cancel certificate of title without requiring a court order.
She said while this was intended to address issues such as double titling and fraudulent allocation, it introduced some various concerns, such as legal uncertainty over land ownership.
“This uncertainty has the potential to deter both foreign and domestic investors, especially in sectors such as agriculture, manufacturing and real estate. Where secure land tenure is critical for long term planning and investments, it cannot be expected that significant investments in infrastructure and equipment can be made without lawful law that protects ownership of that investment,” Mwenye said.
She called on the government to halt the process immediately, as this would allow for more stakeholder consultations before proceeding with the bill.
“As ZICA we request the government to halt and withdraw the legislative process, and consult all stakeholders. These being, the banks, and financial lending Institutions, the Law Association of Zambia, business owners, the general citizenry, and of course ZICA, before proceeding,” Mwenye said.
She said the enactment of the proposed land bill will result in reduced access to credit because most small holder farmers relied on land as collateral.
“Secure land titles or deeds are used around the world as collateral for loans, such as mortgages. The bill provision could erode lender confidence. Making banks and financial Institutions more cautious in accepting land and building as security,” said Mwenye. “This may result in reduced access to credit which will significantly increase the cost of capital, particularly for small holder farmers and emerging businesses that rely heavily on land based collateral, to finance operations.”
