The Ministry of Local Government says the Lusaka City Council has declared a dispute with China Hainan over the Joint Lease Agreement to manage the Luburma Market in the Kamwala trading area.
Minister of Local Government Vincent Mwale says it its quest to provide modern trading facilities in the area, the City Council entered into a joint lease agreement with China Hainan on 9th August, 2001 for the development of Luburma Market.
“The Agreement gave China Hainan exclusive use of the market for a period of 65 years with the responsibility to improve the structures and generally keep the premises in a good state of repair until the handover,” he said.
Mr. Mwale stated that it has however been noticed that the joint lease agreement has not been reviewed for over 15 years contrary to the provision in the agreement.
He narrated that sometime last year, the council initiated this review to revisit the agreement in a number of areas including the lease period but both parties failed to reach a compromise.
“Consequently, the Lusaka City Council on 3rd October, 2018 officially declared a dispute. Following this declaration of the dispute, my ministry urged the Lusaka City Council to go for arbitration in line with the lease agreement and the matter has now been referred for arbitration,” said the minister.
He said he will update the nation on the outcome of this process.

___________________________________________
MONEY FM IS ZAMBIA’S FIRST AND ONLY BUSINESS & PERSONAL FINANCE RADIO STATION. WE FOCUS ON BUSINESS AND MONEY-RELATED TOPICS, AS WELL AS GENERAL NEWS AND DISCUSSION OF WIDER SOCIAL TOPICS SUCH AS HEALTH, EDUCATION, FOOD, MUSIC, FITNESS AND MORE
________________________________________________