JUSTICE Minister, Sebastian Zulu has disclosed that his ministry has finished drafting the Cabinet Memorandum on the “irregular and corrupt” privatisation of Zamtel to Lap Green of Libya by the MMD government.
Mr Zulu said in Lusaka yesterday that he was just waiting for Cabinet to set a date on which the Cabinet memorandum would be tabled.
“We have implemented the President’s directive and we have finished drafting the Cabinet memorandum and I am just waiting for Cabinet to set a date,” he said.
The MMD government sold 75 per cent shares in Zamtel to Lap Green for US$257 million.
However, after assuming power shortly after the September 20 elections, President Michael Sata established a commission of inquiry into the sale of the parastatal company. Mr Zulu headed the tribunal.
The Sebastian Zulu-headed commission has since submitted its findings, which include an observation that the sale was irregular and enmeshed in corruption.
President Sata then directed the minister of Justice to draft a Cabinet memorandum so that a decision on the future of Zamtel could be made.
[Times of Zambia]
Zambia a blessed but abused nation,the earlier we wake up and learn to safe guard assets the better,Zamtel needed recapitalisation yes bt you dont make DORA and libya rich at our expense.My president i know you will sort out the mess and put in measures to avoid reocurrance of such plunder by yourselves or the next government,GOOD CONSTITUTION pls boss.
we are watching!
since whistle blowers already said that Sata promised Zamtel to Angola!
instead of just giving us windfall tax
The report is complete without interviewing Lap green or RP capital….and Zulu still thinks he did a credible job.
While you are at it Sata has already promised to sell Zamtell to Angola, the recepients of his unsolicited ‘apology’.
Zamtel new management is very poor, they don’t even have HE MCS’s portrait in their branches as required by law also the Zambian flag is missing in some of them!
Talk of poor response also to faults!
There is no law in Zambia that mandates hanging portraits of the President in offices. Get the facts straight man.
Well…its ok, if its a better deal
I hope they reverse the sell and see how many companies will want to invest in Zambia which will get a reputation as an unsafe investment destination! People forget that the memory of Zim is still very strong and fresh. Talk about cutting off your nose to spite your face – the perception of Zambia as a safe investment destination is worth much more than settling old scores with the previous regime.
oh PLEASE wen r we going to start managing something of our own…
if anything just grab it!!!! am behind you.
Number #3. do you know that RP Capital were invited to give their side of the story and they were in the country at the time. Do you know that LAP Green management was interviewed? So what are you talking about, keep quiet if you are not privy to certain information.
Just give it to Fered MMembe – He wants tio run a fuul fledged ICT company controlling international gateway, mobile and fixed line. stupid fools
Just give it to Fred MMembe – He wants tio run a fuul fledged ICT company controlling international gateway, mobile and fixed line. stupid fools
Just give it to Fred MMembe – He wants tio run a full fledged ICT company controlling international gateway, mobile and fixed line. stupid fools
In business we would say LAP Green is facing a political risk for investing in Zamtel.Since Zamtel is not the only state owned company that was privitised, we need to be careful how other investors will perceive this political risk in as far as it affects their business.We may be transforming ourselves from a freindly and favourable investment destination to a hostile and unfavorable investment destination.Let us seperate politics from business.Our politics should not have adverse effects on investment decisions.The question is are all previous state owned companies that were sold going be to investigated? Why target Zamte only? Another witch-hunt?
we need to go through the report as well..
Nao a Sebastian Zulu aba, kaya mwe!
let zamtel remain in the hands of zambians
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