MINISTER of Justice Sebastian Zulu says Government is ready to repossess Zamtel if negotiations with the Libyan owners LAPGreen fail to yield agreeable results.
Mr Zulu also says Government is yet to decide whether it will re-privatise Zamtel once the State repossesses the 75 percent shares sold to the Libyan company or nationalises it following earlier “security” concerns of having the wireless phone company in foreign ownership.
“The best way is to negotiate with them. If there is no settlement, eventually there will be a court process and we are ready for it,” Mr Zulu said. Mr Zulu told journalists in Lusaka yesterday that Cabinet is yet to decide whether Zamtel should be privatised if the decision eventually is to reverse the transaction.
“Cabinet will have to decide what to do. We have to see whether to privatise Zamtel or not,” Mr Zulu said.
He also hinted that the Libyan company could, as an alternative, be asked to pay a “little more” for the 75 percent stake in Zamtel, saying: “It (LAPGreen) could be owing the country for using Zesco’s fibre optic network which it did not pay for.”
Mr Zulu said Zesco’s optic fibre network was not considered at the time Zamtel was sold to LAPGreen. “They are using our fibre-optic network without paying. There is even no question of compensating them, maybe they will have to pay us for using optic fibre network,” he said.
He said the people making comments on the government’s plans to repossess Zamtel should study the report of the commission of inquiry set up to investigate the sale of Zamtel in order to comment intelligently.
mr zulu questioned the loyalty of the people speaking against the possible reversal of the transaction such as Situmbeko Musokotwane saying: “On whose side are they? Are they on the side of the Zambian people? This is national asset, and, therefore, if there was fraud and a Zambian stands up and says let’s expose the fraud, they should be supported.”
Recently, President Sata declared a showdown with LAPGreen over Zamtel, saying the Patriotic Front (PF) government is ready to face the Libyan company, which bought 75 per cent shares in Zamtel during the MMD reign.
The President described media reports suggesting that the Libyan firm intends to fight Government’s move to repossess the company to the ‘bitter end’ as unfortunate because the government had the power to simply repossess it anyway.
Mr Sata said it was surprising that the firm had taken a ‘confrontational stance’ despite the irregularities surrounding the transaction.
The controversial transaction has sucked in former Transport and Communication Minister Dora Siliya and former President Rupiah Banda’s son Henry, presently on a police wanted list.
Ms Siliya and Henry are said to have single-sourced RP Capital, the company that allegedly undervalued the assets of Zamtel, which used to employ 3,000 people but has now scaled down to 700 workers.
[Zambia Daily Mail]
I don`t get this. So where is the security concern if they agreed to pay a bit more then? Is it about security concerns or the fact that they paid two bob for the company?
Wooooooo from 3000 to 700 and the customer base has more than tripple!!
Why couldn’t this be done with the previous admin; streamline operations cut number of employees and increase customer base
Just Reposes it if u have enough grounds.situmbeko is jst hallucinating.why is he so defensive? Kutumpa sana situmbeko
You stil want to privatise it, whats the fuss. I bet you the buyers you will get are those who undervaued Zamtel in the first place judging by their shunning of the bidding.
its ours!it belongs to us we shall fight until we win-situmbeko must be arrested and charged for treason.oh maybe its because is still getting some kickbacks from the agents of NATO(the fighters)
What happened to that ‘cabinet decision’ to reposes?
What a bunch of whimps, they have u-turned on their own foooolish decision, now thay want to ‘negotiate’.
GRZ should simply ask George Kunda and Dora Siliya to the difference of what LAP were supposed to pay and what they actually paid.
Do these PF chaps know what they are doing? Why would you consider privatizing Zamtel again if you are concerned about the security? Why do you want to negotiate with some fraudulent buyer? Is Zulu chatting with his boss? They seem to be on different levels.
# 1 Italian Bunga Bunga (Original) . Congratulations you have now graduated from the other side to a more progressive and objective side. That question and narration is what needs answers. “So where is the security concern if the oil chaps agree to pay more which they can? But further quesions are was the deal good for Zambia except that was underpaid or individuals benefited from it? Giving Zambians more questions than answers is un acceptable situation. Why set up COI and make miles long allegations. Come clean and clear the air.
There is a disconnect in these statements by Sebastian. You can not ask them to pay a little bit more if the deal was fraudulent and of concern to national security. You simply reposses and re-nationalise it. Just keep a good eye on it with good management in place. Provide checks and balances. Employ a team of professionals i.e engineers, accountants, corporate counsels, marketers, HR and other support staff. Let the Libyans go home to re-build their country ravaged by war due to that selfish dictator. Tripoli, Ban Walid, Misrata, sirte, Brega etc
Just repossess it. Just repossess it , Just repossess it.
please reposses it and lets move on forward mama forward. zambia first, corrupt investor last.
the political risk of doing business under the current government is way too high right now.
I thought it was anounced that ZAMTEL was reposessed. But now I hear about negotiations for the Lybians to top up or reposses and re-privatise, or nationalise again. Then the fibre optic that Sebastian Zulu says they might have to pay rent for using it. First Sebastian Zulu needs to be told that the fibre optic has not yet been commissioned and they are still laying down. Then please advise Zulu to first talk to Sata or vice vesa so they can say one thing than being so different on one issue. Sat says repossessed and Zulu talks about negotiations.
Anyway I told you Zambians that you have a clown for a president and the whole government makes Forty Towers look serious than being a commedy. You are in for a great commedy with Sata and his cast, advertised by Fred Mmembe’s Post Newspaper.
Mr Zulu questioned the loyalty of the people speaking against the possible reversal of the transaction such as Situmbeko Musokotwane saying: “On whose side are they? Are they on the side of the Zambian people? This is national asset, and, therefore, if there was fraud and a Zambian stands up and says let’s expose the fraud, they should be supported.”
MMD ARE MAD MADDER DOGS WHO DON’T RESPECT PEOPLE’S WISH BUT JUST THEIR INTERESTS ARE IMPORTANT. AND UPND’s AS BABIES ARE FOLLOWING THE FOOT PRINTS.
ba zulu naimwe. why renegotiate the obvious? that deal was a fraud from the onset and you (pf) promised that you will reposses the entity should you win the elections. true to that, your boss, (our president) announced that the govt. has repossesed the same. what is this you are telling us now? be serious please.
zulu is just a UNIP guys still thinking the same one.he thinks what is right is agree with him. well i am zambian on the side of zambia who feel he(zulu) is just doing crap
Surely one can not simply talk of repossession. The legal process needs to be followed to avoid making unnecessary mistakes that could bring the nation into disrepute.
I would offer that we work towards nationalization. If need be, we should be willing to compensate. That’s the kind we should not place in other hands.
………. more comments please! am bored i want something to keep me busy and laugh a little bit