By Amb. Emmanuel Mwamba
Lazard was paid $5million to restructure Zambia’s debt, but Rothschild &Mckenzie have been paid $15.7million on the Mopani Deal
When President Hakainde Hichilema’s Government appointed mining investment bank, Rothschild & Co for a strategic review of Mopani Copper Mines “to ensure its sustainability and continued development”, as usual, our criticism of this decision was rejected as flimsy.
This was especially so that the UPND rejected the hiring of Lazard Feres at a fee of $5million to restructure Zambia’s foreign debt.
At that time, Rothschild & Co also tendered their bid but they lost for the services.
Rothschild & Co was hired last year to find potential investors for the Mopani Copper Mine.
The investment bank was hired as financial adviser to restructure Mopani and help find a new external investor for the mining complex, which Glencore had sold back to Zambia.
Today, Rothschild & Co have been awarded about US$10.2m as transaction advisors, whilst Baker Mckenzie have been awarded about US$5.2m as international legal advisors.
Meanwhile Chibesakunda & Co have been awarded a paltry sum, too embarrassing to compare with what the international legal company is awarded.
UPND are bigger thieves than PF were.
We got tricked by the conman to vote for him.
Let us boot him out in 2026.
How can Lazard & Sons restructure Zambia’s debt as if they are the ones who are owed by this country? They were just advisors. On the payments to Rothschilds on the Mopani deal, I have no information on which to base my commentary but these different financial advisory institutions with different charge rates.
Dis-Ambassador frustrated fired and dumped bleachman.
You and chiluba were hardcore criminals and you were FTJ’S chola boy. BOMA will visit you soon and pretend sickness like CK
The Mopani deal has gone through so the job they were paid for has been done, now did Larzard get the job done?
I wonder what the relationship between Mopani deal and debt restructuring is. This former ambassador is losing his mind. Clearly no relationship
Anything that is said by PF Thieves is simply STUPID AND FOLISH. Mwamba, you are annoying some of us. Zambia is passing through this difficult economic time because of your stupidity.
At times I’m at pains to believe that we allowed people like Mr. Mwamba to become leaders of this great nation. Without a doubt the man’s reasoning is below one expected of a leader. How does he compare the two completely different transactions as if the scope of work was same. It’s like comparing apples and oranges and then one claim that the one is sweeter than the other.
I think no wonder why these people created such big mess for our country such that even up to now we are still paying the high price for their poor leadership. The man’s lack of understanding of many issues he talked about makes wonder if ever reached tertiary education at all. But the funny thing is that some people even see sense in his clueless writings which also just shows their level of understanding of things.