ActionAid Zambia has given the Zambian Government seven days in which to state its official position over the Vedanta saga.
And ActionAid Zambia says Vedanta Chairman Amil Agarwal has committed a crime against Zambians after disclosing that he was raking in US$1.5 billion annually from a mine he purchased at a paltry US$ 25 million over a decade ago.
Speaking Friday afternoon when ActionAid Zambia held a media stunt to express its displeasure over the revelations by Mr Agarwal, Organisation Country Director Pamela Chisanga said the Zambian Government must come out clean over the matter.
At the media stunt, activists from ActionAid Zambia, the Centre for Trade Policy and Development and the Council of Churches of Zambia wearing mining attire, displayed placards denouncing Vedanta.
Local Comedians Diffikoti and Bikiloni performed a parody of Mr Agarwal’s address at a business conference in India and mocked his investments in Zambia.
Addressing the protestors, Ms. Chisanga said enough is enough over the KCM issue.
“This media stunt demonstrates the absurdity of what has happened to Zambia. This demonstrates what we as ActionAid have been saying for some time now. We have consistently said that Zambia is not receiving the true benefits from its natural resources. We have continuously emphasized that something is very wrong, if you look at production in the mines, it is at its peak, we never saw these production levels during the ZCCM days but the benefits are not consistent with production. We see these trucks on our roads everyday carrying our copper but the revenue is not consistent with production,” Ms. Chisanga said.
She charged that what the KCM boss said is a reflection of where the money is going.
“He is clearly telling us that he is making money from KCM and this is the same mine that we have been consistently told is making losses. Agarwal is making US$ 500 million and US$ 1 billion dollars annually. How is it that he is making so much money and yet we as a country are not making anything because the mine is known to be a loss making entity? How come we don’t know about that money? Somebody must be held accountable.”
She said it is saddening that since the video came out Government has not issued any statement.
“We expected the Zambian Government to be the first to come out and state its position. Why is our Government silent, there is something very wrong? Why are we allowing investors to come and reap our resources?” Ms. Chisanga questioned.
She said there is something fundamentally wrong with the Zambian society if people can come in and take away the resources and brag about it and we are all quiet as a nation.
“This is where we expected even our President to come out strongly and investigate these revelations. President Sata must instruct Ministry of Finance to investigate and get a report on KCM but even the President is quiet. Let’s hold our leaders accountable. When you talk about Government, it does not matter who was President at that particular time, when things go wrong, the person who is at the helm, the buck stops with him. In this sense, the buck stops at Mr Sata’s door,” she said.
Ms. Chisanga added, “President Sata needs to demonstrate that he is at the top of things in this country and that he is able to save this country from investors who are coming to reap us off. We need this money, we are very poor and poverty levels are very high. The PF has embarked on a very ambitious infrastructure development programme. This is where the money should be coming from and not borrowing. We won’t need the Eurobonds and all these loans if we are to collect the US$ 1.5 dollars this man is making every year.”
She said, “We need to hear Government’s position within the coming week, can they tell us their position. My humble suggestion is that let them close that mine until they figure what is happening because at the moment it looks like we don’t know what is happening and we are losing vital revenue. Put a stop to that mine and until we get to the bottom of this saga.”
At the same event, ActionAid Economics Justice Programme Manager Patrick Nshindano demanded that the Zambian Government explains how the sale of KCM was undertaken.
Mr Nshindano said recourse also needs to be undertaken over the KCM saga.
“A crime has been committed against the Zambian people, it’s not just the issue of underselling a company at a low price and a crime has been committed against Zambian people because that is a Zambian asset and sold for a song. People involved in this transaction must be brought to book and prosecuted if need be,” he said.
Mr Nshindano also challenged the British High Commission in Lusaka to come out and look at this issue critically.
“What we know is that Vedanta is a British domiciled company and therefore the UK authorities must say something about this business practice by Mr Agarwal. It is not just a matter of bringing in investors, we want responsible investors and not plunderers.
If the President cannot come out strongly on this big economic issue, on what issues can he come out strongly? What other issue can be more important than this? only quarreling with Chitimukulu in the media? I wish we had someone to call President, he would have fought to protect Zambia’s economic interests!!! I wish we had a president, I mean a president, yes a president!!!
He was silent on the sale Zambezi Openpit mine in a game park expecting him to comment on this would be wishful thinking. …the old man will just be cracking his tasteless jokes.
The Sata we knew B.S(before statehouse) is no more.Its incumbent upon Zambians to stop waiting for government to do things on their behalf.Come on Zambians have been waiting for 50yrs for the government to do something.when shall we wake up!
And yet you have lunatics and scumbags like @2020vision supporting this use.less government, when this they cant even do something about it. Just because you are licking somebody’s as.s at statehouse doesn’t mean that all is well with Zambia. Anyway enjoy while it last you imbeccile. Your as.s will be burnt one day.
As far as we are concerned, Zambia does not have a president at the moment. The country is on auto-pilot.
The rationale of a schooled president is so compelling to day than mere rhetorical talk without technical knowledge of a complex business world. Societal call for accountability in this matter can only be ignored out of arrogance and shameless pride.
I have been a PF supporter since its inception but am sorry our relationship is getting a little strained because of this issue. We campaigned and voted for them on the strength that they were going to put our interests first before that of the investors they mockingly called “infestors”. Suddenly they’ve gone quiet as if they’ve fallen off the face of earth. The big man needs to start coming out on important issues such as this, neglecting to carry out his duties is an insult and a slap on our faces after having laboured for him tirelessly. If its his ill health thats impeding him then he needs to do the honourable ‘mandela’ gesture and resign.
@msana wanzili
“……neglecting to carry out his duties is an insult and a slap on our faces after having laboured for him tirelessly.”
Agreed. And furthermore he has abdicated his basic responsibility. But he would be all action man all over again if the issue was sufficiently petty. Have you noticed how fast he climbs out of his sick bed if Chitimukulu or some other irrelevant matter is involved? Economic issues are out of his depth and listening to advise isn’t his strong point. Lets admit we blundered electing this man and his PF and we must promise to do better next time.
@The Crusader..you know they say a dimwitted mind will always resort to insults when they fail to put their point across in an argument. Mr Crusader please tell me in your own words why do you call the President useless? Give me some reasons behind your attacks so that at least the other readers on this forum might be kind enough to think you are not a mental case. As for my statement on HH (Horrible Hater), the facts are there he worked be it as a subcontractor or otherwise for ZPA during the sale of the mines.
Can zambians run anything? Keep it in Indian Hands.
Not only the President should speak out but even the opposition leaders, former members of government Magande and others and the former scandaloud first lady, Maureen Mwanawasa should come out into the open to defend the name of her late husband but most likely nearly all will keep quite for reasons best known to themselves and their pockets! If HH can at length talk about the Presidents stay in London, why cant he talk about the anti vendanta protestors in London. what does this tell you Zambians! As for Dipakiee. All countries in Africa with a high number of indians are blighted by poverty, drug dealing, tax evasion, human and animal poaching,corruption of the of its youth (women), emeralds and copper theft, poor service delivery by govt due to wastefulness on contracts were indians a
You rent out your house at K25million, and tenant sublet it to other tenants and receives K500million, from your own house, without even sharing or expanding property. That is total theft, need immediate eviction.
I like KCM, but on this one, Vendata has to be deleted from Zambia.
This story cannot go without a comment from Wise Commentator. I fully agree with what this lady from Action aid is saying. Its time these some of these mines are nationalized and its time to start doing things ourselves rather going to india like our president did sometime ago to look for greed investors. I think its you retire mr. President not only have mismanaged this country but failed to protect the interest of your people. I think Zambia shld start to hold their presidents accountable. I think each president should be suject to performance review each year and if they underperform like mr.sata they should fired or retired and a fresh president is to be elected through parliament
Only physically stopping our copper leaving our from leaving our borders will get the empty tin’s attention in this useless government. The problem we have in Zambia is our docile people do not know our much power they have….the trade unions should also come out as they have been shortchanged as well.
You rent out your house at K25million, and tenant sublet it to other tenants and receives K500million, from your own house, without even sharing or expanding property. That is total theft, need immediate eviction.
I like KCM, but on this one, Verdanda has to be deleted from Zambia.
You mean to tell us the Facebook President can comment on such important issues…you asking too much from the old man he would rather comment on irrelevant issues such as recognising the next Bemba chief.
Our country is void of leadership ….they would rather celebrate the issuing of a $1 billion bond borrowed from the selfsame investors who steal from us.
I strongly agree that serious measures need to be undertaken right away against Vedanta. Employees from KCM1 – KCM5 categories in KCM’ s Vedanta earn slave salaries and furthermore, this year they were denied an increment with the pretext that the company is running at a loss. This is broad daylight robbery which has been done to Zambia and a deep exploitation to the Zambian employees in the Mines. Something must be done by the government as soon as possible to turn around things for the better. The Miners who were retrenched or sent on VSS during the period MUST also be compensated by Vedanta.
You have consistently been warned that your so called investors are nothing but fraudsters who are quite happily taking advantage of your fullishness! A call has been made by those in the know that Zambia needs SEO at this stage of its economic development & that the Zambian government efforts to get INDECO going is good for Zambia. But no you will not listen to the voice of logic will you? Every time you get a little glimpse of just how heartless these investors can be you get into this strop with your feigned outrage! It is a joke – you are a marvel to behold you people, you really are!
You wait, just wait, you have seen nothing yet of what unfettered capitalism is capable of & if you don’t wake up – Zambia is doomed!
DON’T SAY NOBODY TOLD US THOUGH!
Europeans were buying cooper at low prices and selling it to China, India etc at more than double the price. When the China, India etc realized they were being swindled by Europe they decided to deal directly with Zambia. That is why copper prices went up and the previous government were aware of the enormous value of the mines. Mwanawasa and Chiluba were corrupt. They blind-sighted the people of Zambia. They sold Zambia’s assets to the lowest foreign bidder for a commission. Their commissions are now in offshore accounts for use by their wives and children. Meanwhile the people of Zambia continue to suffer.Most Indian investors in Zambia have no integrity at all. It is better to deal with Chinese investors in the short term, until Zambians are trained to run and operate their min
Europeans were buying cooper at low prices and selling it to China, India etc at more than double the price. When the China, India etc realized they were being swindled by Europe they decided to deal directly with Zambia. That is why copper prices went up and the previous government were aware of the enormous value of the mines. Mwanawasa and Chiluba were corrupt. They blind-sighted the people of Zambia. They sold Zambia’s assets to the lowest foreign bidder for a commission. Their commissions are now in offshore accounts for use by their wives and children. Meanwhile the people of Zambia continue to suffer.Most Indian investors in Zambia have no integrity at all. It is better to deal with Chinese investors in the short term, until Zambians are trained to run and operate their mines.
Sata can only comment on chitimukulu or opposition party leaders
The people who are calling for the president to do something about KCM are the same people who were up in arms insulting him when he reposed the corruptly sold Zamtel. What a bunch of people!! Your childish politicking is what is putting our government in a weaker negotiating position with foreign entities and is also affecting our kwacha.
”repossessed”
If this happened during the time the Post and sata were in the left wing!kaya!
It is the job of intelligent people to ask Difficult questions but it is the job of very intelligent people to ask simple questions like; How did Vendata (Anil Agarwal) MANAGE to SYPHONE profits of $500m a year for nine years out of KCM?
Europeans were buying cooper at low prices and selling it to China, India etc at more than double the price. When China, India etc realized they were being swindled by Europe they decided to deal directly with Zambia. That is why copper prices went up and the previous government were aware of the enormous value of the mines. Mwanawasa and Chiluba were corrupt. They blind-sighted the people of Zambia. They sold Zambia’s assets to the lowest foreign bidder for a commission. Their commissions are now in offshore accounts for use by their wives and children. Meanwhile the people of Zambia continue to suffer.Most Indian investors in Zambia have no integrity at all. It is better to deal with Chinese investors in the short term, until Zambians are trained to run and operate their mines.
HH this is your chance to shine; Stand up and say something!
Sleeping and corruption in Zambia, no wonder Barotseland came out from this failed state. Corruption day in and out, inclusively the nights.
This sleepiness of peoples believing in yapping politics of 90 days money in their pockets has constantly suffered Zedians in choosing the recycled materials of only one or two, to be presidents.
5 presidents so far, all from similar or mascara ding from belonging of two regions, hence Zed politics have been dominated by two tribal groupings of Northern and Eastern, rejecting the West and South.
$500 million a year in profits for KCM boss whilst a Zambian is living on a $1 a day and the likes of Sata, Scott, Kabimba, Chikwanda, Ed Lungu, Kambwili and more PF cadres are MUTE?
Oh, it’s Donch Kubeba sickness!
If the PF keeps quite on this issue it will simply mean that they are probably racking in some cash as well. So the state with all the sophisticated machinery they need to know all this not only to spend resources to go and count HH’s cows.
The KCM Chairman or whatever he is called is an 1diot. He thought we would not know forgetting that today we have the power of Social Media. The PF have failed to block the ZWD and this publication as well. What we need is a NEW CONSTITUTION that will make all the 1diots in government accountable for their actions. The power must come back to we the people and we must have the opportunity to ask whoever is in government to step aside if we feel they have failed. Today we have no president. He opts to comment on facebook. This is total madness and an insult to the people of Zambia. Who told him that we want to be ruled through facebook? The annoying thing is that even the newspapers are extracting stories from the fb page. What a shame! We need to kick these id1ots frm gvt immediately.
You are right by getting annoyed with Vedantta/Agarwal. This saga is indeed painful. But given the scale and complexity of the matter, govt could be studying the issue, gather a few facts, weigh the options, get advice before coming out with a statement. Leadership requires one to be informed beyond the ordinary. However, I also remember that there were muffled qualms and wonder at the price we sold KCM. Background check. Andy K. Mazoka loses election “rather unconvincingly”, then Anglo-America pulls out of KCM more like a “protest for Andy’s loss”. And Mwanawasa with Kaunda Lembalemba at Mines, Magande at Finance stumble on Vedantta crooks! INDEED SOMETHING MUST BE DONE ABOUT THIS.
@Chikwanda, solution is effective monitoring of copper exports in conjunction with recipient Countries AND Windfall tax as HH has been saying over and over.
ndeed, and if anyone can ask Nawakwi, even the World Bank and IMF advised our GRZ to sell off these assets as quickly as possible for them to qualify for HIPC completion point. The mines in the hands of govt were perceived to be hemorrhaging whatever little resources the donors were giving us.
So it is a long and complicated story.
And why has Magande suddenly gone underground? Recently hes been very vocal, commenting on every issue big or small. He was the Finance Minister and unlike his friend Levy, hes still alive and very active, why isn’t anyone asking him questions?
I share your frustration, but your anger is misdirected. President Mwanawasa and Mr Magande did not have the benefit of hindsight at the time, which you now have on this matter. At the time of selling the Mines, Cu price was just below US$2,000/Tonne. No one in their wildest dreams could predict it would be as high as US$ 7,000/tonne down the road today. So direct your anger to lack of windfall tax which we can do something about.
media houses in Zambia should be in the forefront exposing these vendata ceos…
It is painful indeed, but when we put our emotions aside, can we really be angry at KCM? The investors that come seek to make a profit. The investors that we obtain Eurobond money from seek to make a profit. The video proved that although Government asked for $400million, Anil negotiated for $25million. Today he is reaping. As tough as it may be to stomach, the truth is he is making money from soil that “WE” sold him.
We should not rush to call the President all sorts of names. Rather we should call for Government (Executive, Legislative, and indeed Judicial) to look at where our weaknesses are and demand that they do something to fix those loop holes. If we think KCM is the only mine getting away with tax avoidance, we are very wrong.
Awe sure
Our current president was part of privitasation by then and no president does a thing without consultations from his cabinet when in the actual sense he hold a very high position under MMD and that is why he can not comment on this issue. Mwanawasa resigned when he saw that things were going from touch. People tend to forget easily and the very people who are in leadership come out and form their own government, they will cheat you that they were not them but Sata alone.
Look at who are advocating violence , is it Sata or they are the one in the forefront? Ask GBM he will tell you and his stay in PF today is to secure his business because if he moves out the Panga Family will be on him. Be careful and never be cheated with cheap politics of today.
Is it coincidence that HH and UPND have failed to issue a statement condemning the criminality of Angal? Or is it a case of birds of the same feather flying together? HH sees nothing wrong with these criminals plundering our national assets. The opposition Labour Party in the UK has threatened to block a £67bn Anglo-Swedish firm takeover of AstraZaneca , a British pharmaceutical powerhouse. HH must learn to be a principled politician even if he has already sold his soul to the devil. Why does he fear to issue a statement condemning the behaviour of investors at KCM? I know this is controversial but I will say it anyway; Zambian politicians are the biggest fu.ckers destroying the little resources God has bestowed on the country. Please HH say something sensible on this issue or stop…
@little sense, you must have missed copies of the past news where HH strongly called for Windfall tax over and over. Unlike Sata, HH does not need to wait for these ‘infestors’ to admit they are making huge profits before saying something.
Gemfields bought Kagem Mining at a cheap price of $15000000 and their annual turnover is $ 250 000 000
That “something wrong somewhere”, Ms Chisanga, is top officials from ministry of finance n ZRA getting kickbacks to hide how much money vedanta is making. My advise to u chisanga is that u ask ACTION AID UK to picket the london stock exchnge so this issue is picked by the CNN, BBC etc.
Don’t blame that man but the blame must be directed to the so called “economic experts” who negotiated the deal and gave away the mine,just imagine Gareth Bale the footballer is four times expensive than the way our mine was sold.The reason there is so much noise on this issue is the shame and embarassment we have found ourselves of failing to manage our resources.Am wondering why people are blaming President Sata,the best way is for GRZ to fully investigate the operations of KCM and if found wanting PUNISH them hard.
As an ex-ZCCM employee, and other observers will recall and acknowledge, I do know that at the time of unbundling and selling the Mines, the Copper price at London Stock Exchange-LME- was barely US$2,000 per Tonne on a good day. This happened roughly around 1998 to 2000. A few years later with the rise of China’s unquenchable demand, Copper prices began to rise to unbelievable and unpredictable levels up to as high as US$10,000 /Tonne before it finally dropped slightly and hovered around US$7,000/Tonne where it has since remained.
I am not a fan of MMD, but to be honest it is misleading for anyone to cast ALL the blame surrounding the poor selling price of the Mines in 1998-2000 on the Govt of the day. They did not have the benefit of hindsight w.r.t. the rise of China as we do now….
Cont’d….. Not even USA/ Britain could foresee this ‘tsunami’ rise of up to THREE times in metal prices including Cu.
So, the way forward is to effectively monitor our Copper exports in liaison with recipient Countries and to quickly revisit our Tax regime, i.e. introduce Windfall tax.
What we MUST NOT do is nationalise the Mines under PF Govt. This is an absolute NO, because it will be like jumping from a frying pan into fire. Sata, based on his track record, will simply flood it with his relatives and political cadres and Zambia will truly become a banana republic.
Indeed, and if anyone can ask Nawakwi, even the World Bank and IMF advised our GRZ to sell off these assets as quickly as possible for them to qualify for HIPC completion point. The mines in the hands of govt were perceived to be hemorrhaging whatever little resources the donors were giving us.
So it is a long and complicated story.
You are wrong. Europeans were buying cooper at low prices and selling it to China, India etc at more than double the price. When the China, India etc realized they were being swindled by Europe they decided to deal directly with Zambia. That is why copper prices went up, and the previous government were aware of the enormous value of the mines. Mwanawasa and Chiluba were corrupt. They blind-sighted the people of Zambia. They sold Zambia’s assets to the lowest foreign bidder for a commission. Their commissions are now in offshore accounts for use by their wives and children. Meanwhile the people of Zambia continue to suffer.
The National Pension Scheme Authority (NAPSA) was established after Parliament passed Act No. 40 in 1996. It was established to replace the Zambia National Provident Fund (ZNPF), which had existed since 1966 but had a number of weaknesses, such as low contributions, inadequate benefits and an ineffective structural design (Musonda, 2006). The Authority became operational on 1 February 2000 and is administered by an independent tripartite Board appointed by the Minister of Labour and Social Security.
NAPSA administers the assets of the National Pension Scheme (NPS) and the old Zambian National Provident Fund (ZNPF).
The ZNPF was a compulsory savings scheme for private-sector employees that provided lump sums to its members based on the cumulated balances of their individual member…
The truth has been revealed. Mwanwasa was a corrupt president. He deceived the people of Zambia. He lied about rooting out corruption in his term of office. Behind the scenes he was plundering and stealing Zambia’s assets.
Mwanwassa was a sell out. He and Chiluba ruined Zambia. I am 100% sure that he and his wife accepted a bribe to sell a mine worth 400 million dollars for only 25 million. Mwanwaswa’s father was a criminal and he was raised by his uncle. Looks like the apple did not fall too far from the tree.
Mr Magande took the advise, hook line and sinker from IMF and World Bank to sell Konkola mine when he did not know how much copper was underground. How dumb is that? You can NOT sale something if you don’t know its value. You should have consulted Geologists, Metallurgists, and Engineers before taking any action. The guy who bought the mine was smart enough to come with an Engineer.
(My people perish for the lack knowledge- Hosea 4:6)
@Spartan. Mr Magande was not Finance Minister at the time. So you are a pathetic liar who uses the Bible to lie. May God have mercy on you.
The truth has been revealed. Mwanwasa was a corrupt president. He deceived the people of Zambia. He lied about rooting out corruption in his term of office. Behind the scenes he was plundering and stealing Zambia’s assets.
Mwanwassa was a sell out. He and Chiluba ruined Zambia. I am 100% sure that he and his wife accepted a bribe to sell a mine worth 400 million dollars for only 25 million. Mwanwaswa’s father was a criminal and he was raised by his uncle. Looks like the apple did not fall too far from the tree.
I agree with you. Mwanwasa had a vendetta against every educated Zambia who was not a supporter of his party. He harassed and drove out many highly skilled Zambians. The first republic government sent many intelligent Zambians to study mining. When MMD came into power, highly skilled Zambians were harassed and fired. Mining students studying abroad had their scholarships revoked etc. Had the mining students completed their studies all Zambian mines would be owned and run by Zambians. Mwanwasa legacy- sold Zambia’s assets to the lowest foreign bidder for commission. When justice does not prevail Karma is restitution.
Ask Edith Nawakwi, who is the only politician who has come out strongly over this matter. All others are mute, we ask them a BIG WHY? Edith will tell you that the IMF and the World Bank told the Zambian Government under Chiluba to close the mines because they were loss making at the time when he world copper prices were depressed. Chiluba refused and sustained those mines at a great to the country costing more than US$ 1 million per day coming from the Zambian treasury for years, in the hope that once the copper prices on the world market rise Zambia would recover the money. What happened, World copper prices pick up, Chiluba was accused of plunder, his pants thrown in public, called a thief to his grave and his grave, hate speech stated by Mwanawasa has been in the newsprint on people
” Edith will tell you that the IMF and the World Bank told the Zambian Government under Chiluba to close the mines because they were loss making at the time when he world copper prices were depressed. ”
Not close the mines, sell the mines. Closing the mines would have made a lot of sense considering copper prices at that time. However, selling them shows the World Bank’s real agenda – an agenda played out all across the world over and over again.
from Luapula, as late as last week when Chiluba’s son could not be left to graduate as a ZAF cadet with honor without implying that his father did not save Zambia with integrity. Chiluba was stripped of his immunity and we know the rest of the story.
The whole thing regarding Chiluba was a smoke screen to recolonize Zambia. First the Task Force on Corruption was set up compromise Zambia security system. Various security wings exist in any the country in the world including ours such as the OP, Police, DEC, Anti- corruption etc., and operate independently as a way of verifying and counter checking the activities of everything including themselves for the security of the country. This self-checking mechanism of the Zambia was compromised by Mwanawasa and Leslie Mbula who was the Secretary
to Cabinet and Mwanawasa’s uncle with the full support of the British Government when Mwanawasa with the help of the British created the Task Force under the command of Mark Chona and Mutembo Nchito with all the security wings of the country reporting to The Task Force under Mark Chona and Mutembo Nchito. There is nowhere in the world where a country’s security system operate in such a mode. Yet the Task Force was created and funded by the British and others. This is the premise of the economic genocide we are faced with as a country, and are now a laughing stock of the entire world, including India. There is no way this KCM economic genocide among other Mwanawasa economic crimes that the country is yet to know about would have taken place if the Zambian security system self-checking mecha
mechanism was not compromised by Mwanawasa and the British. This is why among other reasons why Mutembo Nchito, President Sata’s DPP cannot be Zambia’s DPP. The question is WHERE HAS THE ZAMBIAN SECURITY SYSTEM BEEN FOR THIS ECONOMIC GENOCIDE TO OCCUR? The bigger picture is that the Task Force was created to compromise Zambia’s security system so that Zambia was recolonized economically as the case is with this KCM among other similar issues. It is not only the British but the IMF and The World Bank who should answer for economic genocide taking place in Zambia right. With the cover up that has gone on so far and the muteness from both the government and the opposition other than Edith, we should question the need to be celebrating the so called 50 years of independence.
The fight for a new constitution is not just a social fight but it is an economic fight as well. This is why the government is hiding the constitution because they want to perpetuate the shielding of criminals from Mwanawasa gang and Agarwal who have committed economic genocide against Zambian. As long as a country we do not address the issue of the constitution, these types of economic genocide and recolonization will continue and we will forever be under developed and poor. Summary of factors limiting growth in developing countries as follows:
• Weak or even corrupt legal systems and failure to enforce laws
• Lack of property rights and political instability
• Low rates of savings and investment
• Poorly developed financial markets
• Poor public education and health services
I agree with you. Europeans were buying cooper at low prices and selling it to China, India etc at more than double the price. When the China, India etc realized they were being swindled by Europe they decided to deal directly with Zambia. That is why copper prices went up and the previous government were aware of the enormous value of the mines. Mwanawasa and Chiluba were corrupt. They blindsighted the people of Zambia. They sold Zambia’s assets to the lowest foreign bidder for a commission. Their commissions are now in offshore accounts for use by their wives and children. Meanwhile the people of Zambia continue to suffer.
I do not have to go into details for you to see that all the above will be resolved by the new constitution, including the property rights of Zambians collectively as a people that have been taken away from us like in this KCM Economic genocide among others.
…ultimatums go with consequences…..what will happen in the event of failure to deliver….???
Imagine. Or else what..?
What is really the problem, that he disclosed how much he is making?
Would we rather he did not?
The problem is not him, it is us!
We did not do our job (valuation) before the sale of the mine and we keep repeating the same mistake; always waiting for someone with straight hair or a fairer skin or both to tell us what to do.
Ladies and gentlemen we just met our enemy: us!
The problem with us zambians is the we have very short memory.Have you forgotten the press conferance levy had in which he thanked Mr Rajan mathani
for helping him sell kcm.Rajan has know to be a deal fixer,he also managed to get
the nod from keneth kaunda to indorse on the deal.This man rajan has been at
the helm of major deals in this country.He pretends to be very holy but in fact
he is a wolf in the sheep clothing.The man was very close to his girlfreind mora the famous (maureen) who convinced Mwanawasa to do the deal.The fact is that he received 50millon Dollars for this deal to share with Mwanawasa.Mwanawasa
was the most corrupt president in the history of zambia.Though he is late but God has a way to reveal the truth by anil himself who corrupted the president using Rajan.
Did you zambians know the real owner of the 25% shares that credit suisse is
holding in finance bank.The shares are owned non other than Maureen and the old
man Kk on fuedicary basis.Meaning that they are holding the shares by a trust on
behalf of them discreatly. now our freind Rajan has promised them both that he
will make them Billonairs by taking the bank public.THis is nothing else but corruption and money Laundring.Rajan had very smartly sold his 25% shares for
of the bank for the money he received from Anil agarwal vedanta deal of 50 million
Dollars.He washed the dirty money and made it straight by making the swiss bank
front the transaction.So the smart allick rajan got 50 million for himself and gave maureen the shares to hide.Do you remember the famous Darlington mwape?
If my memory is correct as soon as levy died Darlington mwape was made ambassoder for swistzerland.Did you know for what reason?TO handel all the money which was left by Mwanawasa for Maureen.He was at state house and controlling all deals on behalf of maureen.We all remember Maureens roaring
affair with Darlington.How both were caught on camera.Darlington and rajan with
maureen were at the helm of making dirty money as mwanawasa could not control
the trio.I believe The lord will expose many more things through his Holy spirit.
Chiluba was a man of God,he ment well for the country,he declared Zambia as a
Christen nation.
Action Aid has good intentions but is shooting itself in the foot with these childish statements. Think about what you say. Giving government ultimatums? It’s as if you are working for Vedanta and Zambezi Resources because you will not get a good reaction as an unelected body with no mandate trying to give government orders on what to do. Who are you? Who told you to advise government?
First Mwanawasa was under presure Anglo American just pulled out after he won. jobs would have been lost. We do not know why they pulled out others ssy they wanted Mazoka to win. Some of the privitasion was miss handled by experts, look at RAMCOZ deal some Zambians even became rich, Remember what MMD said when ZR was grabbed back also when investigations went to ZANACO some politicians said PF is scaring investers.l
Learn something Zambians no invester comes to make your life better they first see a chance to make money then they strike making profits. we should ran these things ourselves not foregners. Question how much did Chiluba sell the same mine to Anglo .
Lastly, we Zambians should say what want not always involving politicians.
This man reviewed vital information which does not even need forensic auditors. He said and i quote, “we were told a very big mine is up for sale in Africa. I said let me take chance ( meaning he could not even believe he could get it) I have a friend …… and i asked him to do papers “nicely” ( This means he was cheating in those papers), We put the offer at $400 Million, $25 million in cash and $375 million to keep the machines running, meanwhile we did not even have $4 million in our pocket (Confirmation that he lied). This mine is giving me $500 million annually in profit and another $1 billion (Where else is he getting the $1 billion if not through dubious means) My guess is that there is something else beyond copper that he is getting from our land which is giving him $1 billion
” (Where else is he getting the $1 billion if not through dubious means) ”
Excellent point. A lot of time ‘other’ minerals are included ore, like say, diamonds, cobalt, etc.
This is why natural resources always have to be publicly owned.
My appeal to the donors if they mean well is that we do not need their money in form of Aid as clearly put by Dambisa Moyo in her book (Dead Aid) because we have the money. Rather i ask them to put their money in strengthening ZRA, ACC, DEC and other organisations such as Actionaid/CTPD which has already demonstrated that they can mobilize and stand up against injustice. As for me and those that may be willing, i am ready to be trained in forensic audit/tax matters so i can give back to my country in form of services and i welcome any donor or indeed government for this support. Honestly this revelation has made me to affirm what JFK said “Think about what you can do for your country and not what a country can do for you”
Congratulation to HE President Sata .Ineed the man of action .He deported the criminal agents of MMD dealings which are slowly surfacing.
Those who accused him of interfereing in private companies now under stand.
Uli mwaume Sata 2016 ni pabwato fyeeeeeee!!!!