Kafue Textiles houses sold

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/a> by mitia on 6/4/13

CABINET has approved the sale of 46 houses to sitting tenants who are former employees of Kafue Textiles of Zambia (KTZ) in Kafue.
The Government has also approved the sale of all KTZ commercial properties.
In November last year, President Michael Sata delegated Gender Minister Inonge Wina to meet with the tenants over the sale of the houses and other concerns.
Commenting on the development, Secretary to the Treasury Fredson Yamba said in arriving at the decision, the Government took into account the fact that most of the former employees of KTZ could not afford the full market price.
“The houses will be sold at the 2006 Government valuation prices while all the non-housing commercial properties will be sold at full market prices,” Mr Yamba said, in a statement issued by Ministry of Finance public relations officer Chileshe Kandeta in Lusaka yesterday.
Among the terms of sale are that Government would transfer title deeds to eligible sitting tenants only after the tenants had fully paid for the houses and upon payment of transfer charges.
The second condition was that, where original sitting tenants or administrators could not be traced, the affected houses would be reverted to the State.
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