Times of Zambia | ‘We waste, we lack’ …Mutati says Zambia is poor because of wastage of financial resources

Published On April 30, 2018 » 2546 Views» By Evans Musenya Manda » HOME SLIDE SHOW, SHOWCASE

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By BRIAN HATYOKA

.Mutati

WORKS and Supply Minister Felix Mutati has urged accountants to help curb the wastage of the country’s financial resources.
Mr Mutati said Zambians were poor, mainly because the financial resources were being wasted.
He was speaking in Livingstone on Saturday night at the AVANI Victoria Falls Hotel when he officiated at the Zambia Institute of Chartered Accountants (ZICA) 2018 annual ball.
The event, which attracted scores of accountants across Zambia, was also attended by a delegation from the Institute of Chartered Accountants of Malawi.
“It is important that accountants safeguard even the meagre resources we have. Ensure the resources are well kept and not misused,” Mr Mutati said.
He urged ZICA to partner with the Auditor General (AG)’s office to promote ethical standards among accountants.
Mr Mutati, himself a fellow of the Association of Chartered Certified Accountants (ACCA) and former Finance minister, said accountants should not be known for negative headlines in the media.
“As gatekeepers, we should be known as people who have left the gate locked in terms of safeguarding financial resources,” Mr Mutati said.
He also noted that accountants had been lukewarm in terms of their participation in a number of important issues affecting the country that could have benefited from their involvement.
Mr Mutati also expressed hope that the elevation of the position of Accountant General would have a positive impact on the AG’s annual reports.
“The Accountant General can now report a bad accountant directly to
ZICA so that such a person can be de-registered. This will minimise issues which are raised in the AG’s report such as misuse, and misapplication of public funds,” he said.
Speaking at the same event, ZICA president Jason Kazilimani said Zambia had a deficit of accountants (according to a World Bank report) and it was important to train more accountants for the local and regional markets.
Mr Kazilimani said there was need to ensure that Zambia was a net exporter of accountants to the Common Market for Eastern and Southern Africa (COMESA).
He also urged accountants to invest in the ZICA property fund to support various projects which the institute was undertaking in the country.
He reminded the accountants that ZICA had in the pipeline a number of projects to be constructed in Kitwe, Livingstone and Lusaka.
“This dream can only come into fruition if we take the initiative to invest in ZICA’s property fund. When we start, others will come to support us,” he said.
The facilities, once completed, would contribute to achieving one of ZICA’s major objectives, ensuring that accountants were qualified in both theory and practice of accountancy for them to contribute effectively to national development.
ZICA Secretary and Chief Executive Officer HapengaKabeta thanked accountants for supporting the institute.
Mr Kabeta, who will be retiring on November 30, 2018, urged accountants to embrace Information and Communication Technology (ICT) when making payments for any service to the Institute.
During the Annual General Meeting on Saturday, Julius Zyambo was elected to ZICA Council while Mukelabai Wambulamwae was elected to the disciplinary committee.