A TRANSACTIONAL ANALOGY BY MR. Newton Ng’ Uni.
KCM AND THE BANANA REPUBLIC CALLED ZAMBIA
KCM IS NOW TECHNICALLY A CEC ASSET, RIGHT?
CEC TODAY CAN SELL KCM ASSETS TO WHOEVER THEY WANT, RIGHT?
SOME SHAREHOLDERS IN CEC AND CLOSE ASSOCIATES OF CEC SHAREHOLDERS WERE POTENTIALLY PARTY TO A CABINET DECISION:
(1) TO TAKE THE KCM CASE OUT OF COURT, RIGHT?
(2) GIVE KCM BACK TO VEDANTA WHEN THEY KNEW VEDANTA HAD NO FINANCIAL CAPACITY TO RUN KCM RIGHT?
(3) CEC WAS NOT PARTY TO THE KCM LIQUIDATION CASE, RIGHT?
(4) AFTER MAKING A CABINET DECISION TO HAND BACK KCM TO VEDANTA SOME OF THOSE WHO PARTICIPATED IN THAT DECISION USED THEIR INTEREST IN CEC TO GET AT KCM, RIGHT?
(5) THOSE WHO HAVE INTEREST IN CEC USED INSIDER INFORMATION ABOUT THE INDIGENCY OF VEDANTA TO PLOT TO TAKE OVER KCM, RIGHT?
AND IDC BOARD CHAIRED BY PRESIDENT, AND ZCCM BOARD ARE JUST LOOKING ON AND CHEERING CEC ON, RIGHT?
SO WITH A COURT JUDGEMENT AGAINST KCM, WE HAVE COME FUL CIRCLE, RIGHT? WE HAVE POTENTIALLY MOVED A PUBLIC ASSET, KCM, FROM ZCCM AND IDC BACK TO VEDANTA AND NOW TO A NEW PRIVATE COMPANY CALLED CEC WHOSE VERY CONTINUED EXISTENCE AS A PARASITE ON ZESCO IS A NATIONAL SCANDAL, AND SOME SHAREHOLDERS ARE IN CABINET OR HAVE CLOSE LINKS TO THOSE IN CABINET, RIGHT?
DID CEC USE ITS CONNECTIONS TO THIS GOVT BIGWIGS TO GET THE LIQUIDATION CASE OUT OF COURT SO THAT IT CAN GO TO THE SAME COURT OVER THE SAME FAILURES THAT LED TO LIQUIDATION CASE IN THE FIRST PLACE AND POSITION ITSELF AGAINST PUBLIC INTEREST?
THIS WILL NEVER END WELL. ALL IT WILL REQUIRE IS THE NEXT PRESIDENT WHENEVER THAT WILL BE TO DECLASSIFY THE CABINET MEETINGS INVOLVING THE MINES AND ALL HELL WILL BREAK LOOSE.
BUT JUST THE SHEER AUDACITY OF HANDLING PUBLIC ASSETS IN THIS MANNER!
ANYWAY, SOME POPCORNS HERE PLEASE, ZAMBIA IS OFFICIALLY A BANANA REPUBLIC!