UPND GOVT SOLD 51% SHARES OF MOPANI WITHOUT FOLLOWING DUE PROCESS
The UPND and Mr Hakainde Hichilema have sold a major asset of the state, Mopani without following due process as required by Zambia’s constitution.
Article 210(2) of the Constitution of the Republic of Zambia states that;
(2) A major State asset shall be sold, transferred or otherwise
disposed of, as prescribed, subject to the approval of the National
Assembly signified by a vote of at least two-thirds of the Members
of Parliament.
(3) For the purposes of this Article, “major State asset” includes a parastatal and equity held by the Government, as prescribed.
Government has sold 51% shares of the Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH) in Mopani Copper Mines, to Delta Mining Limited (Delta) of Dubai.
Fred M’membe
President of Socialist Party
Bayama mwebo ask PF why they failed to revamp Mopani instead they just closed it? If you have nothing to offer to the Zambian people please sit down and keep on watching how the UPND is doing things in action and stop talking nonsense. No reasonable Zambian will hear from you bakandile imwe, empty tins always makes noise that is you and your fellow PF.KKKKKKKKKK
There’s no equity or shares held by the state in Mopani Copper Mines which have been sold. The shares were held by ZCCM-IH, a corporate body whose majority shareholding is held by IDC Ltd, another corporate body whose shares are 100% held by the Minister of Finance on behalf of the Zambian state. A corporation limited by share capital is a separate entity from its owners. It therefore follows that ZCCM-IH is different and separate from the Zambian state. The assets of ZCCM-IH are therefore not state assets but those of ZCCM-IH. That is a time-honoured principle in both business law and accounting.
This man knows how to irritate people, even when they had an appetite of reading his articles or listening to him, they can lose it. This is a man who can write, complain, accuse, misinform, lie, cheat etc from one rainy season to another. He is now a specialized accuser of his brethren, for he accuses them every day and night. Pa first, he was saying HH wont manage to resolve KCM and Mopani issues, now that he has resolved them, he is now talking of shares. We know that from shares, he will be talking of something else, he is a perpetual irritating talker who wants all Zambians to suit into his archaic socialist ideas, something which will never happen. In Zambia, those who are doing nothing are the ones discrediting those who are doing something. M’membe has done nothing for this country compared to HH who has done a lot and is still doing a lot. This country now has a future, that’s why you are seeing a lot of excitement in students and the youths in general, they have seen that HH means well for this country and will leave a better Zambia for them, those are intellectuals, do you think they can just match to Community House for nothing? He can continue writing as much as he can but that won’t change anything, ifwe ni forward, epela, 2031, HH futi na futi, bena bakashala bachili baleelemba bakalunde po nokulila.
It is totally disgusting seeing all these praise singers supporting the sale of our mines to foreigners. Our mines are being looted and people are busy clapping for the conman just because he belongs to their tribe.
Vote wisely in 2026.
I hv looked up the definition of “principle”. One definition reads,” a fundamental truth or proposition that serves as the foundation for a system of belief or behaviour or a chain of reasoning”. The business entity concept is an old principle of business law and accounting and that is what is at issue here. It’s not your tribe or anyone else’s. According to this principle, the assets and liabilities of a company limited by share capital are for the company and not its owners, fullstop.
Gunner, Sir, why are you wasting your time and ours, talking about high Intellectual Concepts, our IQ is too low to understand such. The only Art we have perfected is daily criticisms including tribal talk.
You have hit the nail on the head!!
Do u understand partnership? The mine has not been sold mwebantu.
“Praise singers” are equally Zambians and just like you, they have equally the same rights on the fate of the mines and the country. And judging from the comments, they are happy with the transaction of Mopani mine but only you are happy and Mr. Mmembe are unhappy judging from your usual comments. If didn’t know better, it seems you are just a bitter person and a tribalist at the same time. I just hope you won’t develop hypertension when president HH will be sworn in the second time. Furthermore, your comments regarding the mines shows that you have no clue what it takes to run a mine but just commenting from a point of ignorance. Some of us have worked at mines and we understand what it takes very well and so we feel happy when we hear of such news because we know our people will benefit from it’s reopening. What has the country benefitted from mine during the time it’s dormant for past 4 years or so?
One Celestin Mukandila has made it known that he intends to challenge the Mopani transaction in a court of law. I welcome that step wholeheartedly. It’s high time Zambian courts applied their minds to the interpretation of the business entity concept of law and accounting.
I doubt he was serious and not just politicking, otherwise, he would have already done so without wasting time. Unfortunately, most lawyers in PF are not good at interpreting law so I doubt he is any better judging from comments on many issues.
Ok due process or no process does the deal favour Zambia, or does it take the mine back to life, sometimes the procedures we put forward only help to keep us back from progressing, that is why most governments with dictators at the helm are progressive,
You might be correct.
Yes we also have a dictator, but unfortunately, we are not progressive.
Vote wisely in 2026.
I don’t think all those students from Institutions of higher learning who matched to Community House were from HH’s tribe. So to claim that praise singers are praising HH just because he is from their tribe is rubbish and baseless. Unless you mean that almost all students from UNZA, NIPA and EH are from HH’s tribe. Haters are always the same at any era in history, blinded by hatred, they always see things differently. They did the same to the son of man, despite healing the sick, raising people from the dead, preaching good news, to them he was just a conman until the day he left the earth. But we are not surprised because he told us that a servant is never greater than his master, if they have done this to me who is your Master, what more to you? They will definitely do it even in a worse manner. Wait, one day God will give a true conman and you see how you will cry because you have despised his gift. We are Christians living in a Christian nation, which one of you can give a scorpion when your child asks for fish? If you men know how to give good things to your children, what more with your Heavenly Father? Do you think he can give us a conman when we have asked him to give us a good president? You hypocrites, unless your righteousness exceeds that of the Scribes and Pharisees, you shall likewise perish. Stop insulting God who gives us life, good gifts and our daily bread, he always knows what is the best for us in any situation.