PeP STATEMENT ON NEED TO INVESTIGATE CURRENT KCM PROVISIONAL LIQUIDATOR FOR SUSPECTED EMBEZZLEMENT OF KCM FUNDS
Liberty House, 29th May 2024
1. As Patriots for Economic Progress (PeP) we have noted with sadness that ever since the current Provisional Liquidator of Konkola Copper Mines PLC (KCM) Ms. Celine Nair took over the operations of KCM, about two years ago in May 2022, following the resignation of the previous Provisional Liquidator Mr. Milingo Lungu, the financial problems at KCM have worsened.
2. This is despite very favourable trading conditions for copper on the world market, which has currently reached an all-time high of US$11,000 per metric tonne. As we speak right now, KCM has failed to pay the May 2024 salaries for employees, on time, and its total debt to suppliers has more than doubled in the past few years.
3. Given the fact that KCM’s desperate financial situation does not match the supposed good fortunes of copper on the world market, there is need for Government agencies including the Auditor General, Drug Enforcement Commission and Anti Corruption Commission, to investigate this discrepancy and get to the bottom of this matter.
4. As Patriots for Economic Progress, we wish to assert that corruption should not be seen to be a bad thing when perpetrated by members of the previous regime only. Government should begin to investigate incidents of suspected corruption perpetrated by members of the current regime, if the Zambian people are to take Government’s corruption fight seriously.
ISSUED BY:
SEAN E. TEMBO (SET)
PARTY PRESIDENT
PATRIOTS FOR ECONOMIC PROGRESS
LUSAKA, ZAMBIA
Celine Nair knows that the ZCCM-IH board is her principal. And why has Sean Tembo not taken a position on Milingo Lungu’s conduct when he was KCM provisional liquidator?
This idiot knows that a company in liquidation cannot be trading even if the price of copper reached $100,000. What milingo was doing was illegal and just milking money for their political campaigns for 2021 elections. How else did he hand back $24m. Alot was stolen by these thieves!!!