Whoever is crying just let them cry – Kabuswe
By Rhoda Nthara
WE have followed the law, Mopani will continue running, assures mines minister Paul Kabuswe.
“Those that are peddling lies let them continue. Whoever is crying just let them cry at the end of the day they will get tired and stop crying,” he said in response to Kantanshi
PF member of parliament Anthony Mumba’s question over Mopani shares transfer.
“Thank you once again Madam Speaker and thank you very much honourable minister and congratulations for job well done. For us we will be praising where it is due and we don’t care what we will be called because it’s for the people of Zambia. It’s not for me or my children. It’s for the people out there,” said Mumba in a question of clarification in the House on Thursday following Kabuswe’s ministerial statement on IRH acquisition of 51 per cent shares in Mopani Copper Mines. “Now honourable minister this message you have sent to the people out there is very encouraging. But it’s also under threat because you have been accused that you have not followed the Constitution. You have been accused of breaching the Constitution and that this transaction will be reversed. Now for those that are listening right now who you’ve assured will not be retrenched in this very difficult economic time and for me as patron of Mighty Mufulira Wanderers we have assured that
Mighty will be funded and many other sporting disciplines in our district. What is the real position in terms of this accusation that the government has not followed the Constitution or indeed there is a breach that government has carried out? Because this does not only threaten the Zambian people who are looking forward to doing business and working but also the investor and the confidence we are putting at risk?”
In response, Kabuswe said the new dawn government did not break the law.
“Thank you very much honourable member and thank you for the accolade you have given to the government of President Hakainde Hichilema over this deal. Madam Speaker, government is not run by just one person. Government has several wings and because our government is so methodical and well organised, when we were doing these transactions we had teams in place. Those who were looking at legal due diligence, the technical due diligence [and] the financial due diligence around this deal to make sure that as we make a decision we do not break the law,” said Kabuswe. “We have the chief legal advisor of government who is the Attorney General and gave his opinion and yes including the environment.
Madam Speaker there’s no sale that has taken place. I know they are referring to article 210, I remember that I always sign consents of transfers of shares and I haven’t done that because there’s no sale. So not to worry Zambians, we have followed the law. You are very safe. Mopani will continue running. Those that are peddling lies let them continue.
Whoever is crying just let them cry at the end of the day they will get tired and stop crying. That’s why they have been lying that Mopani has been sold for $130 million. Nothing can be further from the truth including lying that President Hakainde Hichilema has sold Mopani to himself. If you have nothing to say just say thank you and sit down. Just keep quiet because we told you that we would resolve these matters and we have resolved them. And KCM will be resolved.”
The Mast
Really, Kabuswe? Good luck to you, since you will be in power for ever.
But ba boss you said three months, what’s happening over KCM?
Thanks for the others but KCM is an eyesore
Vendata was given KCM with $25Million as the asking price under Levy Mwanawasa. The crooked Argawal got KCM Plc assets and resources then sold the stock piles he found, and managed to pay off the $25million in 3 months….and he was by year end able to make $500Million. This is the stupidity Zambia is being exposed to again under Mopani Copper Mines.
The Dubai based investor is being given assets without any consideration in monetary terms in return for Promised Capital Investments. KCM was sold for a song , Mopani is being given without a song! How will the promised capital investment be treated by the Company? And when is it going to be done? And what Capital Projects are these ?
Is the promised Investment a cost to the business which
will be reflected as such in the books of Accounts? If indeed it will be a cost , then it will have to be recovered. The question is how long will it take for the balance sheet to move from red to black for them to pay taxes and declare dividends ?
Secondly Mopani Copper Mines is a running company even today exporting Copper, what happens to the proceeds from
these current copper Sales? Is this not the same stupidity Zambia was exposed to under Vedanta ‘s KCM?
This useless Minister shouldn’t think we are dull..It’s not about sponsoring Mighty Mufulira Wanderers. How much does it cost to buy a kit and balls for the team? Or allowances ? Just one Truck of Copper can sponsor that team…and how many Trucks leave Mopani Copper Mines per day.
This deal stinks and Hakainde has a lot of questions to answer.
What was your alternative solution to the Mopani situation? Was everything right at Mopani before this deal?
Mr. Kabuswe, what goes round , comes around! You will soon regret your crooked actions! You can say their teams in place, “legal”, “technical”, “financial”, but the truth is that in the end it was one man or person who decided everything. Problem is you think Zambians are very foolish and don’t don’t know what is going on in your governance system! We are very aware and it will bring your government down very fast and soon!
What does he mean when he sales there is no sale? What was being signed with International Resources Holding then?
What difference does it make that they ‘swapped shares but didn’t sale the asset’?
Using legal gymnastics to avoid complying with the constitution is wrong!
Praise singers, take time to think here and reason.
Just ask this Criminal government of Hakainde the simple What, When, Where, how, and Why Questions on Mopani Copper Mines PLC issue. The Criminals will fail to answer .
WHERE is the transfer of Shares to the Dubai based Company being done? Mopani Copper Mines PLC is a Public listed company on LUSE and Secondary Listing on the London Stock exchange. WHERE have the shares been issued? And WHAT Quantity? And WHEN are they going to be issued, or were issued ? And has this Dubai company paid for these Shares? If not WHEN are they going to pay for these Shares?
Through Kabuswe’s balls and kit to Mufulira Wanderers?? Tekutumpa uku??
And again , WHAT Capital Projects are going to be done at Mopani …. WHEN , and WHERE?
@Ticky. Alternatives. This Criminal government is giving our Pension Money(NAPSA) and Workers Compensation money to Macro Ocean to do the Lusaka Ndola Dual carriage way …$600 Million and concessioning toll Gates and the road over a labour Hire contract for 25 years. How much is the Dubai Company pledging for
51% shareholding in Mopani Copper Mines?? $600million which they will get from the Copper Sales which Mopani is exporting today! You have the answer.
This Kabuswe chap will soon regret his utterances.
No doubt about it ,let those who are crying continue not until their water body dries up,all those who are arguing they have the right to do so from the perspective way of ignorance, for how long has this mopan mine not been operating and what was the reason and why, the answer is known but because there are people in our country who doesn’t know how things happen there is need to explain, otherwise let everyone give credit to the government for this milestone people are going to find jobs and those doing business will now be happy, congrats to the zambian government