SELLING OF MOPANI SHARES IS ILLEGAL
…..Parliament did not endorse this move as per constitutional requirement, says Chanda
Lusaka… Thursday March 21, 2024 (SMART EAGLES)
New Congress Party President Pastor Peter Chanda says the selling of shares in Mopani Copper Mines to an investor is illegal because Parliament did not deliberate on this issue.
Pastor Chanda is of the firm view that Article 210 of the Republican Constitution, require that before selling shares in such a strategic asset, Parliament should approve it.
“The sale of Mopani Copper Mine shares is without following the laid down procedures in conformity with article 210 of the Republican Constitution. President Hakainde Hichilema is today on the Copperbelt for the handover of the mine to an investor that has bought shares in Mopani,” he said.
“Having consulted some Members of Parliament, it has been brought to our attention as New Congress Party that Parliament has not deliberated on the matter. The voting of two third majority in conformity with Article 210 has not been done. And today a ceremony of handover of shares has been done.”
He said this is the second time that a mine is facing a similar situation.
“NCP when we form government in 2026, we will reverse this transaction. The buyer of this Mopani mine has a limited time to run it, because of these procedures that have not been followed, it is immoral,” he added.
He urged President Hakainde Hichilema to do the right thing as he swore to uphold the Constitution of Zambia.
“President Hakainde Hichilema be aware that you swore to uphold the Constitution. We should not allow the law to be broken with impunity. We told Zambians that you made a mistake to vote for HH because the economics he studied is that of disposing off shares,” he said.
This is why Zambia cannot prosper. Opposition screams hunger and no jobs. Jobs are created and an opposition party leader says oh that is illegal. Come on man stop being petty. Let’s think of the future of our country. Jealousy that s what it is.
Selling and purchase of shares of a publicly listed company does not require parliamentary approval. If I buy Mopani shares, it is a personal financial decision.
When PeeEfu was (illegally) contracting kaloba, which by the way requires parliamentary approval, you were quiet like a teenage girl having her first period. Today you even opposing the morally correct ownership by shareholding of a Zambian mining company.
This is mungulu Pro Max. Just shut up if you have nothing to oppose. Some of the solutions that UPND government is delivering are things that the so called opposition would have never dreamed of. Please learn to appreciate positive developments, not every time opening mouths only to pronounce rubbish. SHHHAAAAAAA.
Imwee ba Mr. no more kabwalala leaders, are you not ashamed that the Upnd government you support has a lot of kabwalalas, mine sale scandal to chinese, gold scandal, Fisp scandal, maize sale scandal, min of health scandal , min of mines scandals, etc, all big scandals. What pastor Chanda is telling you is that the sale of shares in Mopani mine is another scandal and people will be arrested after Upnd is out of power! Let’s hope you will live long to witness the arrests!
Abena Mandanda,
Guess work, speculation and actually wishing that someone fails isn’t going to help your case.
If you have proof of your allegations, please report the matter (with the supporting evidence) to police.
Surely why are we not progressive. We only look at the negative when anything is being launched by New Dawn government. There is nothing they give kudos. Mopani Copper Mines (MCM) are now open, old employees recalled, contractors are taken care of, new employees engaged and then This Banda is from no where throwing junk in the moving wheel of development. Tantamount to Subotage. They are not just happy about the scores by Bally. He is proving biblically wrong about the 3 wise men from the East instead 3 of them full of confusion: 1. Hon. Munir Zulu, 2. Hon. E. Banda now third one His Excellence Pastor P. Banda.
These are voices who have no understanding of complex tramsactions of this nature. It is too hard for them to comprehend the many complicated legal and contractual obligations.
To prove this , why is he not pickimg on Barrick Gold Corp. Barrick owns 100% of Lumwana mine through Lumwana Mining Company Limited. Is this not an asset for the country? How was our national institution dealing with minning left out? By the way you speaking now said nothing. Very hypocrical if you ask me.
Which is better? 0% or 49%. Since there is complete silence on the shareholding of such mines it clearly shows the falsehoods and baseless accuasations of some of these characters. They only want us to suffer while they keep pushing for their masters agendas. Very sad indeed.
In my view, using an asset to better the lifes of its citizens is wise. No one can carry our mines away. We need smart leaders who can negotiate with investors. That’s all.
Owning an asset and having the cash to develop and run it so that it gives benefits to you may not repose in the same person. Mopani Copper Mines was owned by the Zambian government after the departure of Glencore during the PF. Peter Chanda and those who agree with him should show those who disagree with them what benefits Mopani Copper Mines were giving to Zambian s.
Ati Pastor, yes a false one and an ignorant idiot whose balls were glued to the useless looters, plunderers, murderers and corrupt gassers of innocent citizens. Now the glue is dry, the idiot has nothing sensible to say out of shame and stupidity. Just shut that stinking useless hole you call mouth if you have nothing sensible to vomit. STUPID IDIOT.
Why wait until the last day? Take action if you have data, instead of just running to the media with no follow up action.