More questions on govt, Stanchart deal

Friday, July 18, 2014

A P700 million loan guarantee between the government and Standard Chartered Bank to finance the Okavango Diamond Company, continues to be a bone of contention between the Executive and the legislature.

Members of parliament believe the deal, which was signed and operationalised without the legislature’s blessing, is marred with irregularities.

They feel that Finance and Development Minister, Kenneth Matambo, crossed the line in committing government’s guarantee on the deal without parliament’s consideration.

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