The recent sale of ZCCM-IH’s 51% stake in Mopani Copper Mines to Abu Dhabi’s International Resources Holdings (IRH), done without parliamentary approval, has once again opened old wounds in Zambia’s mining sector. At the heart of the debate lies a fundamental question: who truly benefits from the country’s rich mineral resources?

Copper is Zambia’s economic lifeblood—accounting for over 72% of export earnings and 44% of government revenue. It is the people’s inheritance, not a private commodity to be traded behind closed doors. Yet, in a move that reeks of secrecy and disregard for democratic accountability, the government chose to offload a controlling stake in Mopani without consulting the National Assembly or engaging in a transparent, inclusive process.

This opaque transaction not only undermines public trust but fuels the very corruption that has long held our country hostage. The consequences are dire: foreign entities continue to profit massively, while the Zambian people, especially those living in mining towns like Mufulira, Kitwe, Chingola and Chililabombwe remain trapped in poverty, joblessness, and environmental degradation.

What’s more disheartening is the chorus of praise from some political cadres, hailing this deal as a “strategic move.” One has to ask, what exactly are they celebrating? Is it the continued erosion of our sovereignty? The widening gap between the rich and the poor? Or are they simply clapping for crumbs while their families remain in destitution?

Let’s be honest, many of those praising this deal are not doing so out of conviction, but out of convenience. They are benefitting from the patronage system that feeds a select few at the expense of the majority. Meanwhile, their relatives, friends, and neighbors still sleep hungry, struggle to pay school fees, and queue at clinics with no medicine.

This is not just about Mopani. It’s about the future of Zambia. It’s about demanding that our leaders stop selling our birthright in backroom deals. It’s about standing up to a system that allows a few to sit at the high table while the rest fight over scraps on the floor.

True patriotism is not blind loyalty to a political party, it is loyalty to the people and to the nation. If we remain silent now, we risk becoming complicit in the continued looting of our own resources.

Zambia deserves better. Our children deserve better. And it starts with holding those in power accountable, demanding transparency in all public deals, and ensuring that every Zambian gets a fair share of the wealth beneath our soil.

Here’s why we must demand transparency in mining deals and how we can achieve it:

1. Why Transparency is Non-Negotiable.

A. Constitutional and Legal Violations.

The Mines and Minerals Development Act (2015) and Public Finance Management Act require parliamentary oversight for major asset sales. The IRH-Mopani deal bypassed this, setting a dangerous precedent for executive overreach .

Zambia’s Constitution (Article 16) vests mineral rights in the President on behalf of the people, implying fiduciary duty to ensure public interest . Secret deals violate this trust.

B. Risks of Corruption and Illicit Financial Flows.

Beneficial ownership opacity: Hidden ownership by politically exposed persons (PEPs) has led to revenue losses through tax evasion and fraudulent contracts.

The IRH deal’s structure, reportedly involving debt conversions rather than direct investment—raises questions about who truly benefits.

C. Economic and Social Costs.

Zambia’s mining sector contributes only 2% to employment despite its fiscal dominance . Opaque deals worsen inequality, as seen in Chingola, where communities lack clean water despite living atop copper riches .

Debt traps: Past deals (e.g., Glencore’s $1.5 billion debt) have left Zambia liable for private-sector failures. Transparency could prevent such pitfalls .

2. How Zambia Can Enforce Transparency.

A. Legal and Institutional Reforms.

1. Publish mining contracts: Zambia’s EITI commitments require disclosure of licenses and agreements, but compliance is patchy . Full contract transparency (e.g., via the Resource Contracts Portal) is critical.

2. Strengthen the Mining Cadastre: The current system is prone to manipulation. An online, public cadastre would deter speculative licensing and corrupt allocations.

3. Enforce beneficial ownership laws: Zambia’s Companies Act (2017) mandates disclosure, but data remains inaccessible. The Opening Extractives Program can help .

B. Parliamentary and Judicial Oversight.

Parliamentary audits: The Supreme Audit Institution has used EITI data to expose licensing irregularities . Regular audits of state-owned entities like ZCCM-IH (which hasn’t published audited reports since 2020) are overdue .

Judicial review: Civil society could challenge unconstitutional sales (e.g., IRH deal) under Article 16.

C. Civil Society and Public Pressure.

ZEITI reports have revealed gaps in revenue collection and social payments . Advocacy groups must leverage these to demand accountability.

Community participation: Mining-affected communities (e.g., Chingola) should have a say in deals via public hearings and social impact assessments.

3. The Consequences of Inaction.

Without transparency:

Zambia repeats past mistakes: The Vedanta/Konkola Copper Mines saga (a 5-year dispute over state seizure) eroded investor confidence . Opaque deals deter serious investors.

Resource nationalism backfires: While Zambia seeks greater state control (e.g., Minerals Regulation Commission Bill), poorly executed reforms risk corruption and disputes .

Youth unrest grows: With 60% poverty rates and rampant illegal mining, opacity fuels resentment .

Conclusion: A Call to Action.

We cannot afford secrecy in mining deals. -Transparency safeguards:

-National sovereignty (no more asset fire sales)

-Economic justice (fair taxes, local jobs)

-Investor confidence (stable policies attract ethical capital)

Recommendations:

1. Cancel the IRH deal pending parliamentary review.

2. Publish all mining contracts and beneficial ownership data.

3. Amend laws to mandate legislative approval for major sales.

As Minister Paul Kabuswe noted, Zambians must “feel the impact” of mining . Transparency is the first step.

What’s next? Share this article, demand #MiningTransparencyZA, and pressure MPs to act. The copper beneath Zambia’s soil belongs to its people, not shadowy deals.

By Alexander Vomo, MAFM, MProjMgt, PMP

The global economy faces rising threats of recession as tariffs escalate and trade tensions deepen between major economies, warns Nigel Green, CEO of global financial advisory giant deVere Group.

“World trade volumes are shrinking at the fastest pace since the 2008 financial crisis. Investors, businesses and policymakers should be under no illusions – a global recession risk is growing by the day,” he says.

Recent data reveal a troubling picture. Global goods trade contracted by 1.3% in the final quarter of 2024 compared to a year earlier, according to the latest World Trade Monitor figures.

At the same time, global manufacturing activity continues to deteriorate, with leading indicators flashing red across multiple regions.

Nigel Green explains: “Tariffs imposed by the world’s largest economies are not just slowing trade. They are eroding business confidence, slashing corporate investment plans, and rippling through supply chains that had once powered global growth. The engine of globalization that fueled decades of expansion is now being throttled.”

The International Monetary Fund (IMF) has already revised its 2025 global growth forecast downward, citing “mounting trade restrictions” as a key factor.

In addition, the World Bank has warned that protectionism threatens to knock half a percentage point off global GDP this year alone, pushing an already fragile global economy closer to contraction.

The deVere Group CEO continues: “It’s a dangerous feedback loop. Trade barriers lead to slower growth, which breeds political pressure for even more protectionism. We are witnessing the early stages of a vicious cycle.”

The costs are starting to bite. Emerging markets, often the first casualties when global trade slows, are seeing capital outflows accelerate. In advanced economies, export orders are falling, corporate profits are weakening, and manufacturing job losses are ticking up.

Financial markets are beginning to take notice. Global stock markets have become more volatile as fears over shrinking world trade deepen. Meanwhile, currencies of major exporting nations are coming under pressure, and safe-haven flows into assets such as gold and the Swiss franc are rising.

“In an interconnected world, trade disruptions spill across borders fast,” warns Nigel Green.

“No economy is immune. Even those less reliant on exports will feel the pain as investment slows, supply chains reconfigure, and confidence evaporates.”

Compounding the risks is the political backdrop. Recent moves by the US, China, and Europe to slap tariffs on key imports — from steel and electric vehicles to agricultural products — signal that the global trade war is not only far from over, but intensifying.

“Political leaders seem more willing than ever to weaponize trade for strategic goals,” he notes. “But the cost of these moves will ultimately be borne by businesses and consumers through higher prices, lower growth, and rising unemployment.”

He continues: “The world learned painful lessons during the 1930s about the destructive impact of tit-for-tat tariffs. We would do well to remember them now.”

Despite the rising threats, Green believes opportunities still exist for investors who are willing to think globally and position themselves wisely.

“In times of heightened risk, diversification is critical. Investors need to be global in their outlook, diversified in their portfolios, and disciplined in their strategies. Sitting still is not an option,” he says.

Green concludes with a call to action: “The warning signs are clear. Those who ignore them do so at their peril. Investors and businesses must prepare now for an era of slower global growth, supply chain shifts, and increased geopolitical tension.

“As the drumbeat of trade wars grows louder, the world may be hurtling toward a new economic reality — one where resilience, foresight, and adaptability become the ultimate currencies of success.”

ACTING Minister of Health Douglas Syakalima says 427 health facilities will benefit from the USD$6.8 million Six solar project funded by the Global Fund.
ZANIS reports that speaking when he launched the Solar for Health (S4H) and Joint SDG-Energy Transition projects today, Mr Syakalima said the launch will further strengthen the country’s health system and also reduce carbon footprint in the health sector.
Mr Syakalima said he was delighted that the solar project was being launched together with the S4H project which will provide capacity in technical operations of solar systems at provincial and district level so as to ensure sustainability.
He said the solar for health initiative will primarily focus on health centers and health posts which are the backbone of healthcare access for millions of Zambians.
Mr Syakalima thanked the Global Fund for supplementing governments efforts in providing stable and reliable energy to government institutions.
And speaking earlier, United Nations Development Programme (UNDP) Resident Representative James Wakiaga who read the speech on behalf of the United Nations Resident Coordinator Beatrice Mutali, said the project has come at the right time.
Ms Mutali notes that the UN is working to support the government in formulating strategic short, medium and long term measures for addressing the energy crisis that has had adversely impacted Zambia’s economy.
She said Zambia was faced with a severe energy crisis exacerbated by the prolonged drought experienced last year.
Meanwhile, Ministry of Energy Acting Director Micheal Mulasikwanda said load shedding has affected the operations of key sectors such as health and education.
Mr Mulasikwanda said many health facilities are struggling to store vaccines, blood and operate lifesaving health equipment.
He said the solar project is critical in addressing hydro power gaps.