Former Finance Minister, Situmbeko Musokotwane has warned that the country stands to lose if the PF government reverses the sale of Zamtel.
Speaking on the MUVI TV Assignment program, Dr. Musokotwane says the decision will scare the much needed investors in to the country.
He maintains that the 275 Million US Dollars Lap green of Libya paid to acquire 75 percent shares in Zamtel was a good fee considering Zamtel’s state at the time of sale.
Dr. Musokotwane further clarified that Zamtel owed government more money contrary to insinuations that it was government that owed the firm a lot of money.
Meanwhile, Dr. Musokotwane has wondered why civil society organizations are quite over alleged illegal decisions being perpetuated by President Sata.
He cited the reversal of the sale of Finance Bank as a case in point.
Dr. Musokotwane says the sale of the Bank was according to the provisions of the laws of the land, but wondered what law the President used to reverse the sale.
Bwana Musokotwane…Stand to lose what, you without shame…If it was done fraudulently should it remain like that? You guys are bloody criminals en want to protect the money that you stole which belongs to the Zambians…..The investers will have to know that the right proceedure should be followed… unless you are saying that the investors use dubious means to get deals in the country,……. Shame on nyou old man……
that fool x minister investor will always come why isn’t that you cry so much of this so called investor we need investor who appreciate our lobour laws not thieves!
Thats why you guys are so selfish..you mean there are no other credible investors or valuators.. I ts only that you are scared they will reveal your shody deal..
Scare investors? I thought this was a foolish statement from the former finace minister. investors come to make profit, they are not charity organisations, so they need to follow and respect the laws of the land! how did this dull fellow even become minister?
it time to think with our heads not our ………….. lets ask this current gov tough question like state officially what went wrong,who did wrong and what exactly is the wrong. PF is in position to do this. let them not just say fraudulently because it means nothing. more importantly is PF intending to resale or keep zamtel?Â
as far as it liquidity Musokotwane is right. if any despite lets hear it from the Finance minister, not in the streets as it has become a custom.
as for zamtel’s performance i think it speaks for itself
Where are the 1200 bicycles, you have lost moral ground and professional respect people had for you!!
Dr. without shame and this is the man aspiring to be President, Also explain how you coerced Zesco to give you the fibre optic. PF government will lose credebility if they fail to reposses Zamtel
Most x ministers lost their brains too when mmd lost power.Forgive this ka old man.He will recover soon.
Which investors? Gaddafi`s sons who are either dead or on the run. All big assets in Libya belonged to the Gaddafi family. From a layman`s point of view, if a transaction was fraudulent it becomes illegal ab intio and therefore is null and void. PF are even delaying in reversing it. Why waste so much time? A telecom company like ZAMTEL is too strategic to be sold that way. It also exposes the country`s security. That Mwembeshi installation sold. I am sure the Libyans even control our radar system to some extent. British Telecoms, SA Telcom etc are still largely controlled by the states. Why?
well spoken bro.
Shut up you Musokotwane. We need Zamtel back or have Lap Green get few shares this time. They can pack up and go and we will maintain Zamtel ourselves. You MMD failed us on Zamtel. Sata, don’t listen to Musokotwane.
Investors go even to war torn countries like Iraq whilest dodging bullets and road side bombs. Only criminals will be scared, so dont give us that crap sir! We know its a gimmick you use so that we keep quiete while the so called investors get away with our resources cheaply. Let them be very scared !
By the way dont even mention our presido. Te ba nobe awe ! Aba nabo ni ba george bush, ba rowan etc. Not abena muluzi and the like.
shup up CROOK
dont waste your time… You must wash your 1230 PERSONAL bicycles !! LOL LOL
Musokotwane, you are wrong about ZamTel but right about Sata breaking the law on his many decisions. But dont worry about Sata for now, he will also be in opposition in future and he will be sorted out then. Worry about ZamTel issue cause you were the Zambian custodian in the sale.Â
Citizens will not support blind Mr Mwasotwane. If he was a bemba you would have said kolwestan now because he is ….. no one is mentioning about it. Good luck for you see you in court.
BWANA MUSOKOTWANE. IT DOESN’T TAKE A BRAIN to know that the opposite would actually happen. TRUE investors will be attracted to Zambia knowing if they follow the laws of the country, the itself will protec their business. I RESPECT THE FACT THAT OUR ZAMBIAN MEN AND WOMEN HAVE PhDs while at the same time it is shocking how they display their shallow levels of thinking and shere lack of common sense. How can a learned man say, ‘Because of the need for investors in Zambia its ok for investors to break the laws at the entry point and when in Zambia. FUULISH THINKING BA MUSOKOTWANE.
BY THE WAY ITS HIGH TIME OUR SYSTEMS STARTED PROMOTING (IN THE REAL PRACTICAL SENSE) OUR HOME-GROWN BUSINESSES IN ALL ECONOMIC SECTORS. MANUFACTURING, AGRICULTURE, TOURISM, ETC. BA MUSOKOTWANE LIMBI BALIBA. THEREFORE TRYING TO PRE-EMPTY THE MATTER IN HIS FAVOUR.
Hope in futility Musokotwane! This man hopes that PF Govt should relent the fight against corruption. Just shut up if u want to save yourself some dignity.
Zamtel sell facts are there. Hatred will not change facts! President Sata , and most of PF members were in the MMD of 1991 which mishandled privatisation. Ask President Sata about how much was realised from their privatisation. He was no. 3 in hierarchy and they sold a mine for 25million dollars. The RB MMD sold Zamtel for 275million! The sad part is that some people are so drunk with PF that they cannot appreciate anything in the previou regime. Jealous and hatred for MMD will not change facts. Dr. Musokotwane is in my opinion, best performing Minister of Finance! In three years alot was achieved which you will only see after 90days as you will be so disillusioned with your PF as it will be so hard to defend their lies eg Windfall tax.
Dr. Musokotwane has given facts. Do not insult, argue from the facts! Zamtel was sold competitively. Some firms that had tendered fell out because their bids were below that of LAP Green. Some of you have your preferred firms from the so called better investors. But they did not bid, so, what did you want! Appreciate the efforts leaders make. Sad, when one is a thief, he/she thinks everyone is a thief, hence giving a name tag of thief to everyone! Spare those who worked so hard to save Zamtel, Luanshya mines, Albdion etc. We are waiting for your better investors in Mazabuka! More tests are coming! PF has already failed the windfall one-ask Hon. Bob Sichinga!
#19 and # 20. you have lost your senses you can go to hell.
I have always said this guy was not right for the job of Finance Minister, he acted more like a cadre. All the rubbish and corrupt transactions went through him but he acts as if he was not there. No wonder most transactions were taking place at the State house with RB and his sons by passing him because he was weak. We are taking back what belongs to us, the investors can F@#k off, we are not taking over MTN or Airtel.Â
#!9 and 20, you are a ….. sorry an …. sorry a ^^^**ol sorry, a son of a…….
honestly why? my bro. think of the suffering masses cos of your mmd. by the way how much have your investors paid toward the zamtel deal? think and think big.
Musokotwane is very very very right. Unfortunately most bloggers just yap without thinking critically about issues. They exhibit shallow and in most cases uneducated outburst. This man is correct. Just as he was correct with windfall tax policy which PF has shamelessly adopted. I guess these issues are beyond the capacity of many bloggers to analyse
Young man you are damn wrong the same Musokotwane you are supporting doesn’t give a **** about the poor people these are failed leadership
#19,20,24
your beloved Muso is a cro.ok… that’s all
facts only facts
#100 million dollars swindled from ZCCM
former finance minister Musokotwane ALSO FORMER DIRECTOR OF ZCCM know that and where the money is…
if mauritian banks refused to return money why Musokotwane did not publicly make pression on mauritians ??
Today where is the money???
Moreover zccm has never published audited statements in 4 years…
So what did Musokotwane want to hush up??
#Mopani uses transfer pricing to pay no taxes and no dividends to zccm-ih
According to NGOs in its pilot audit by Grant Thornton, the govt lost an estimated income of USD 175 million in tax revenue between 2003 and 2008 and zccm-ih lost $300 million !!!
and muso the cro.ok didnt revoke the Glencore licence!!
continued
# Kansanshi Mining (FQM) owes ZCCM-ih $ 450 million… but those thieves refused to pay its debt….
So all those thieves owe Zed $1 BILLION !!!
ZCCM-ih owes zambian state $ 300million
In the same time State owes IMF $ 330 million and Muso the cro.ok was only able to pay back $ 1,9 million…
and Muso the cro.ok needed to borrow money to make ends meet !
so muso the cro.ok must shut up !!! but the time is running out, he will be jailed before going to hell :-)
Dr. Musokotwane with all due respect Lap Green was Gaddafi we are reversing this era The President was right on Finance Bank and he is 100% right on reversing Zamtel already the Auditor General is complaining that Zamtel has not co-operated with her office when they wanted to audit their books,You are damn wrong.You have failed the Zambians it is time you kept quite your time is up Sir.All these years you have been in leadership there is little or nothing you have done to improve the Country,But on the contrary you have improved your life and gained over the dead bodies of the poor Zambians.
Oh lord the pathetic intelligence and short memories of PF cadres? Isnt it the same Dr Musokotwane you called names over the windfall tax? So what exactly has your Sata and his PF done with the Windfall tax? PFand Chikwanda have followed what Musokotwane was doing! Dr Musokotwane as Finance Minister left your country with $2.6 bn in reserves; single digit inflation and an international B+ credit rating the same as oil rich Angola and Ghana. He also did the donkey work for the $500m bond that Chikwanda is about to take to the capital markets! Your may not like the guy as a politician because he is essentially a technocratic and he is cut for that! He reminds me of Dr Singh the Prime Minister of India dubbed the anti politician.He is good with the economy but he is piss poor with politics.
# 24 u are right. the quality of bloggers is poor. now those who disagree with Musokotwane maybe right, but apart from name calling and insults there is no intellectual analysis, no logic of any kind is attached to their arguments. for example # 24’s post has logic and  facts. no insults for PF. on the other hand if you look at Mike Te’s post devoid of facts and full of mini insults.Â
at one time when someone criticizes MMD, MMD zealots when quick to declare you PF cadres some on the blog were victims to this. well its like Deja Vu
#16 you have summed all the responses from other people. I support your point of view.
It’s funny, Musokotwane has got a PhD but people remember him most for being involved in a bicycle scandal hahahaha. Also, he worked under the shadow of a more effective finance minister in Magande! What a career.
get zamtel back.we ve already lost and there is nothing to lose left