French Company, Lazard Freres, Awarded US$5m Tender To Manage The Country’s Debt Portfolio.

The government has awarded a US$5 million contract to French company Lazard Freres for the provision of advisory services to the country in relation to the liability management of its debt portfolio.

Other bidders that included ABSA Bank and Barclays Bank PLC, Rothschild & Co, White Oak Advisory Ltd, Potomac and Deutch Bank have since been notified of the award of the tender to Lazard Freres.

Secretary to the Treasury Fredson Yamba stated in a statement issued last evening that Lazard Freres met all requirement under the Public Procurement Act of 2008.

Lazard Freres is one of the world’s leading financial advisory and asset management firms, and advises on mergers, acquisitions, debt restructuring and capital ventures.

Copyright © 2020 ZR.

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  1. Truth man

    Surely I don’t understand this..managing a debt,do you need someone whom we should pay millions of dollars.Maybe it Is lack of ably educated Zambians to perform the task or what is it really. Me I am scared!

  2. Starboy

    It simply means that the country has been abandoned by its own citizens. No one can manage it’s affairs. Surely I cry for mother Zambia!!!! Sometimes I run short of words to express my grief. It’s like you have failed to impregnate your own wife, but hire another man to impregnate her for you. Sure sure awe….

    • Isaac

      What a country we are living in. They dont even trust their own universities. They sadly say that an economist produced at unza has no capacity to service the debt of the country. Lets vote wisely next year.

  3. Joseph

    No vision no vision. I cry for our children what world will they grow on

  4. Ray Mulowa

    am worried does it mean that we don’t have qualified Zambian Ecomomist to advice the government lets all join hands in 2021 we should vote wisely to change otherwise our children will be in danger.

  5. Jms

    Its unfortunate for a country to fail to identify the possibility of developing itself, if this process proceeds thenthey will be smeared the name while back door chewing is happening or everything has already gone.

  6. Asoza

    If the Ministry of Finance, BOZ does not have competent people to restructure debt, who then had the skills to advise which bidder could do the job best. ? Or was it the possibility of some ” thank you” to someone up there or to his daughter, Tasila. ? Thieves without shame. Aren’t those 44 flats, 3 mansions at ZDA-Henan Silverrest Housing estate to name but a few enough???

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