LAP Green Networks will defend its investment in ZAMTEL

1. I hope MR LAP Green you have not spoken too soon.

2. Who were other bidders apart from LAP Green? These are things Zambians want to hear and do we have proof at Tender board?

3. But Gadaffi is kaput and so are his sons? Do you really think the new Libya would want to carry on camping in Zed? Lets wait and see…

4. We need to evaluate their claim that they invested over US$300m. This could be to include the payoffs to Dora, RB, Lungwangwa, and the dodgy company from the tax haven.

5. It still hurts me how a big company like Zamtel was sold for a song.

6. The bottomline is Sata has no absolute right even as president to violate international business rules. Zambia also has international companies working in other countries, ZAMBEEF is one of those multi-nationals working in other countries. If Zambia starts to behave funny, our companies will also be made to suffer. If there was any corrpution in the sale of Zamtel, it may be that LAP Green was not involved and could defend its case in court and win tens of millions of dollars in compensation. Sata should not think everything is politics. There are some things about any country that lie outside politics. JUst because he is president does not give him absolute right to act anyway he feels on anything in the country. There are rules to follow…

   • Sense!

7. Zamtel had a book value of $81million, and obviously anyone in Gov’t will tell you its impossible to get book value (infact in any business) unless there are circumstances showing major future profits.
   RP Capitals claimed it was worth $38million, and still LAP Green paid $257million.
   So where is the fraud in the sale??
   And as we all know that amounts to 5% of our National Budget, can Sata pay it?

   • @NI ZEE The issue here is whether the transaction was done transparently or not. It appears you have been blinded by the amount of money allegedly paid and the apparent claim by LAP Green of the Value of Zamtel . Don’t you see a problem that someone would buy an asset which they think is worth only $38 million and pay $275million? The words in between the lines should be very clear even to “the Blind”!!!!

8. I have no confidence whatsoever in this county and I think It is headed for total collapse. Zambia is a Zimbabwe in the making and I have a sour taste everytime I talk of my dodgy county, and the above headlines says it all in the management. The crop of this government is suspicious at best

   If you agree with me, that Zambia is an embarrasment , pease give me a THUMBS UP on my comment, ‘Vote UP’

   Thanks

   • Pi$$ off you attention seeking cow!!

   • You are right Mushota but don’t be too big headed. Sata could not have been the president if we all had a say on the constitution. The guy is an embarrassment to all in Africa. So its actually Sata who is an embarrassment and not Zambia a s a whole. Don’t generalise issues Mushota. I thought you are not pathetic yourself but you are proving to be. 
     Thanks.

   • Mushota you are an embaraassment yourself. Which Europe do you live in not to know that it is Europe that is headed for doom. All Europeans and Chinese are rushing to Africa, and you’re still there basking in the glory of infrastructural beauty that was created with wealth from Africa, but can no longer be sustained! You claim to be educated but can’t read trends in the world economy. Do you even know thta Zimbabwe has huge diamond reserves and will be paying back a debt of US$260m to Zambia? Can Greece or Italy afford to do this now? WALIDABWA MWAICE IWE… ANSO NGA NIFILYA NALI AKALE NGA NA………….

   • you have time

9. Zambians cant just sit while the thieves and their LAP green are raping them. LAP green was warned that if they would go ahead buying ZAMTEL , come PF in power it would be reversed. Since LAP green connived with the MMD thieves they went ahead to share Zamtel. Please Zambians think, these guys were there to rape us left centre and right, and now we should send a good warning to others that corruption does not pay.Reverse the sale asap.

   • Use your head to think not shiiit

10. There’s no way that kind of money came into the economy.. They are lying through their teeth.. Where did they invest $300m????? ZAMTEL has been running on its own meeting some its bills from internal resources.. So called LAP Green investment / purchase price never came through following embargo and sanction on LAP assets a long time ago.!!!! Am sure he’s includign the 2 years worth of profit ZAMTEL has generated that they were not able to siphon out of the country in the so called “investment figure” which is rubbish.. go to the international court if you want.. Were’nt you told at the time of purchase? you gambled on political risk and now you must dance

    • Would this mean Zamtel was going to be as profitable and viable if it was not privatised?

11. No 6 we are talking of illegal sale not whether we have companies in other countries or not. Zambeef opened branches and did not buy companies illegally. Even us if our companies are found wanting the same could happen to us

12. This is a BEEG scam! Going with the revelations in today’s Post n/paper that LAP Green only paid $15m to gain control of 75% of Zamtel while govt put in $334m for 25%, a reversal of this transaction is inevitable. The previous govt should be held accountable for this recklessness. There was no transparency when they were selling this parastatal, no wonder we’re getting these scandals. PF must make that Zamtel Report public. Zambians deserve to know the truth.

13. #9 & 10 well said. that deal was done by crooks and not in the interest of zambia. and again, who benefitted from the $300million investment these crooks are talking about? you were warned not to buy zamtel but thgought rb and his tandem of thieves will rule zambia forever. just start packing your katundus and prepare to leave our country, period.

14. As the cabinet decides, they have to take into account the currently obtaining scenario. Question should be, what value, real or imagined, has the new owner brought to the company? If the performance is above board, i.e. compared to when it  was a parastatal, then cool heads should prevail in avoiding a reversal of the sale. Let us avoid the Chiluba mentality of ‘everything Kaunda was bad’.

15. Of course LAP Green’s Public Relations machine is going to come fighting…I would do the same, this is not news….this is certainly not a pantry $4m FNB paid for Finance Bank which FNB can recoup within a week from its other revenue streams.

16. This may be difficult to judge as in terms of the right direction to take. But one way to redress this could be the govt to negotiate for a large share without pushing in any cash. Otherwise, this all to do with govt which did not listen. Dora and Banda must be made to pay for this. We told them not to go ahead and what did they say only? them had the brians to understand the deal what an insult from a man who is a historian in economics….in the name of Banda.

17. Disappointed

    Tell them off ba fikala.so ni chi losing part.

18. This LAP GREEN/RB style of raping our economy must be stopped. The style of plunder exhibited by the RB regime can only be described as economic sabotage, 100 times more than FTJs plunder. So men from the EAst are indeed wise in economic sabotage.
    Guys have u checked The Post. LAP Green has only paid $15million and Gov has bought its own 25% shares for $300million no wonder the likes of Dora, Kunda, RB etc are extremely arrogant. Viva HE MCS, Viva PF Gov.

19. pliz read todays post!!!

20. Dora was thinking MMD will rule this nation for ever,but now we need what belong to us back.

21. This deal should be reversed because it did not satisfy public scruitiny and other prominent comments were ignored. This reversal is more prudent that the reversal of Finance back to Mahtani. Mahtani finance back failed several times to comply with Zambian banking regulations and he has acknowledged it himself. How on earth Mr Sata can hand it back to him freely? The best would have been to hand it to shareholders and not Mahtani. Let Zambians read and avail themselves to causes of repossession of Finance baank by BOZ and will find out that there issues of money laundering and non compliance to regulations. If we are serious with our econonmy Mr Mahtani should account for all his arrests by all the previous govts. Finance bank was closed off in Malawi and banned Mahtani to do business.

22. Gokigo Milazhe! The president has simply sent the inquiry report to cabinet for the final decision. But what i can get from you are just baseless attacks on the president. By the way, as a Zambian I deserve to know why such a big company was sold for a song. There are so many issues surrounding the sale of zamtel which needs to be clarified to Zambian people. Therefore, threatening us with legal suits will not do. How do you run to conclude that if zambia is found wanting Lapgreen will win tens of millions of dollars in compensation. It can also be the other way round.Your analysis just shows how much you hate the current president and therefore you eager to rubbish every meaningful development.

23. Ha ha reuters guys are crazy.lap green only paid $15milion.They have been oparating thru our money.It seems RB and sons bought Zamtel thru Libya.Watch the space.They got it for free then starting paying in installments through our money.What a scandal!!! It seems we don’t love our country!!Rb would have sold Zambia.It was the Grace of God which saved Zambia.U can’t like what happened in the pastt 3years of MMD.Really Terrible.

24. The price Zamtel was sold to LAP is even lower than price of frequency lisence….Obviously the LAP green had so many assupmtions; RB and MMD will be in power for ever, Gaddifi and His Sons will rule Libya until Jesus comes,…all these assumptions have proven to be UNTRUE…this is now huge business risk and i guess LAP are recalibrating their ambitions…

25. lap green should just go back to libya and help rebuild their tattered country. zamtel is and will remain a peoples’ asset. they should renegotiate with rb & sons, dora, kunda, shikapwasha and not pf govt. cos they were warned not to go ahead with the transaction. this is why they omly paid %15million.

26. In short RB and his cronies are the owners of Zamtel and they made government to pay for its own shares. That is fraud, RB needs to be arrested to gether with his sons and Dora. But whatever happens Zamtel should be repossessed soon.

27. Let the investigations continue!! If anyone is found 2 have gooten the money corruptly,then they will be prosecuted.

28. We need the report on the sale of ZamTel to be made public so that we can draw our own independent conclusions.

29. Mushota just swallow your pride and come back to Zambia. Am well informed by your friends that you complain of a small and weak dick of your old man. What a shame! For as long as you stay their you will never find a man to sexually satisfy you as your Zambian ex. Is is true that you keep calling him and telling him how much you miss those real deep moments you used to enjoy?

30. By MUSOTA=I have no confidence whatsoever in this county and I think It is headed for total collapse Home is home. They say never despise home whether it looks like a shanty or not, history remains that you did not drop from heaven You were born and bred in the same shanty home, the only thing is that you were given a chance to jump on opportunities which your roots (parents never had).
    That does not make you a queen. Perhaps its more reason they say First cut is the deepest. Come back home for your first lover no wonder you miss him.

31. #8, MUSHOTA, you are an embarrassment yourself. Which Europe do you live in not to know that it is Europe itself that is heading for economic doom? You claim to be educated but do not even know where the world is going. I guess you don’t even know that Zimbabwe has huge diamond and gold reserves and will soon be paying Zambia back a debt of US$260million. Can Greece or Italy afford to the same now? Wait until you start surviving on one meal per week irrespective of how many jobs you work in a day. WAKE UP MWAICE! ELO WASHUKA SANA, NGA NIFILYA NALI AKALE NGA NA ….

32. IMWE BA LAP GREEN MWILATUTINYA – First you may have acquired these shares with Gadaffi’s money, which will report you for at the ICC (Money embezzled from the Libyan people). And now that he is dead, you may not even substantiate how you accumulated such wealth. In fact we should just confisicate it in the same way we did with the Zimbabwean sangwapo Gold!

33. EVEN THE WORKERS DID NOT SIGN ANY CONSENT THAT THEY WISHED TO BE DECLARED REDUNDANT..THE UNION (NUCW) CONNIVED WITH ZDA OFFICIALS AND SIGNED ALL THE DOCUMENTATION ON BEHALF OF FORMER ZAMTEL EMPLOYEES.THIS WAS ILLEGAL
    LET THE SALE BE REVERSED AND FORMER EMPLOYEES TO RE-APPLY UNDER THE NEW STRUCTURE BECAUSE EVEN THE RECRUITMENT PROCESS FOR THE NEW ZAMTEL WAS SCANDALOUS BECAUSE ONLY FRIENDS AND RELATIVES OF TOP MANAGEMENT WHERE EMPLOYED AT THE EXPENSE OF SKILLED AND QUALIFIED MANPOWER….RIGHT NOW MOST OF THE SENSITIVE TELECOMMUNICATIONS INSTALLATIONS LIKE TRANSMISSION ROOMS ARE NOT MANNED ESPECIALLY ON THE COPPERBELT…THE PF GOVT SHOULD REVERSE THE DEAL COZ IT STINKS…..THIS IS A SCAM ..LAP PAYING 15M FOR ZAMTEL OOHH WHAT A JOKE……THE PF GOVT SHOULD QUICKLY CAGE ANY ONE WHO BENEFITED..

34. Law provides to reposses stolen property. period////////////////////

35. Zamtel seems to be making a profit for a change – if GRZ is wise, they should buy a bigger controlling state, say 49% to 51% and remain a sleeping partner.
    Last thing we need is for GRZ to defile Zamtel.

36. Zambia will never attain full economical emancipation if we keep defending/protecting a few criminals that plunder our national resources in broad day light. As a patriotic Zambian i cannot find any justifiable reason why RB should not serve the rest of his life in prison after recovering what he stole. This includes all his close cronies.

37. Whoever takes over from Sata in the future will also treat everything he has done as suspect.Zamtel’s woes did not start during RB’s time and it certainly won’t be made efficient and profitable by presidential decree.To Sata everything under the sun is political and everything Sata does is so straight forward. As always anything evryone does even when well meaning there are some economic,political,natural or even personal dynamics unseen that will complicate matters.Some of Sata’s directives now will in the future look so ill concieved,badly executed and embarrassing.Stop acting like you have all the answers under the sun Sata coz you never have.

38. Let all these MMD chaps get arrested and sentenced. RB is a BIG THIEF. Please Mr. Sata just get our Zamtel back.

39. #37, think before you type!!!!

40. Good evening

    Quote: “LAP Green Networks said the company would work diligently to protect its investment in Zambia of over $300 million. The company said the sale was done “transparently and within the established legal framework” and expected “just treatment” from Zambia’s government.”

    How exactly does one “work dilligently” to protect investments, let alone maintain a positive relationship with the other shareholders under fraudulent implications? Supposing the alllegations of illegal sale are confirmed by the Inquiry, what can LAP do to prevent the government from overturning the transaction? We shall see…

41. Nine Chale, where there is a public tender, and it is awarded to the highest bidder, how can it be that bidder’s problem if the problem was on our negotiators who did not do a good job??? WHY dont we question the Chinese who bought Luanshya, Chambishi and then the BLGRIMM explosives disaster? As you have rightly said, “we shall see…”

42. I’m failing to balance this business equation developed by RB and SONS COMPANY. How can a major share holder invest over 100% less than a minor share; then in this regard who is the owner of zamtel and who is helping who here? I feel lap green should just pack and go after all Libya needs them more than we do. They need to go help rebuild the telecommunication infrastructure which was destroyed by NATO.
    $15m? They were just used we the big fish and for these small boys from Libya should keep quiet.

43. let them reverse the sale we shall watch and laugh at how ZAMTEL is going to collapse, the NGN network suppose to be completed by 2013 will not be there, and zambia will continue to experience high internet and telephone changes, ZAMTEL will go back to using the PSTN exchanges…these people who have no knowledge of telecommunications are *****s, they cant see the benefits of LAP-GREEN what a shame.

44. #22 MENGO – Let me first categorically say that I DO NOT HATE PRESIDENT SATA – He is our president. We are just discussing issues that affect us all and will affect our children when we are all long gone. So let us sometimes not too get caught up in blind loyalties. Sata is doing a job and like anybody else, including myself and yourself, he is not perfect. Ofcourse we are not saying we want a perfect president, no. Sata is enough the way he is, but at the sametime we should help him. I believe he might be onto something on the lapgreen issue. However, LapGreen are also confident that they did everything correctly. The truth is that if they are right and we repossess zamtel, they will sue and win the case. Secondly, big companies do not sue for hundreds of dollars, bwana.

45. The transaction was filth rite frm ze start, excpt things were being done frm the higher office. LAP Green shud not cry foul, they know ze truth plz PF reverse ze sale. Zamtel was not broke as claimed, MMD government owed ze company billions in unsettled bills how did they expect them to operate.

46. I have no faith in Sebastian Size Zulu. Didn’t the Post just a few weeks ago call him corrupt? He is a muzungu anikonde, as per his TORs to make the Zamtel deal stink, but he has forgotten that this matter is now beyond our borders.

47. My suspicion is that the commission does not even understand international business transactions. And have you noticed how Roger Chongwe has allowed his commission to degenerate into demands for secession of Barotseland? Not very healthy at all, and I don’t think his boss will want to see the report.

48. I think Sata and the PF Government will retract from their pursuit of reversing the Zamtel transaction. I echo the points made by Enka Rasha @ 37 above. In addition the very report by the Zulu commission is being withheld from the scrutiny of parliament! What’s there to hide if such inquiries are aimed at exposing graft. Zamtel, like many parastatals in zambia was a drain on public resources and had no real future to compete. it was therefore a blessing to sale it and get the kind of millions of dollars mentioned in this article. Otherwise, these are companies that Governments sale for £1 (in the UK) to get them off public accounts into private hands relying on taxes that both the company and it’s employees will pay.

49. I will be shocked if government reversed this sale. Soon and very soon just like the new government has been back peddling on most of its campaign rhetoric it shall realise the reality of the business transaction and repurcussions of reversing the sale. What you WANT and what you CAN do are very different things.

50. #43 Mr. Phiri, You said this “these people who have no knowledge of telecommunications are *****s, they cant see the benefits of LAP-GREEN what a shame”. Even if you are insulting others, to me you seems to have only little knowledge on telecom and Zamtel projects. On NGN, do you that Zamtel had 3 NGN switches (from ZTE, Hauwei and Errickson), before LAP Green?  90% of project taking places at Zamtel where s started during Tembo time. MPLS and ADSL, ISDN started where back, under rural ICT project. Even Cell-Z phase III/expansion and 3G, are old projects. the only projects started by LAP green are FTTX and STM-64 (connection to Zesco).So the new owers, they have NOT done any meaningful  investment to talk about.

51. LAP will cry this year. We will do any of the two things. 1. Reverse the sale according to our pre and election policy. 2. Give them only 49% shares and take more shares to GRZ. We will determine our future. We’ll also take back Mwembeshi.

52. This is a test to see if sata has balls

53. 15million Dollars for 75% shares(lap green) and 334million Dollars for 15% shares(zambia). What a shame!.. The king cobra is @ work. 90 days for Life…

54. When something is wrong it is wrong. LAP green gave a lot of kick backs to  RB. Zamtel belongs to Zambians not Sata or RB. Therefore, if the people wants it reversed then reverse it period.
    Boma ni Boma! power to the people

55. We’ll nationalise ZAMTEL at zero compensation to LAP. If they want their money, they should go get it from Bwezani, Dora Siliya and Banda’s two children. Our AG advised this sale was “a nullity” and even after this verdict, they went ahead to greese the Bwezanis and Dora palms and bought ZAMTEL for peanuts. Now it’s their time to dance sinjonjo. I will also not be surprised its them who bought Siliya those motorised bicycles. We are nut dull, we can connect the dots on the line to see who was cheating us. They can take Dora’s “matako” to Tripoli and feast on them as compensation, otherwise us we have refused to pay for their corruption, “luhanika shangweeee”

56. We need a bit more info on the sale of Zamtel so we can make constructive criticism. However, it would be great to reclaim Zamtel.

57. #50  PF Cadre with Red Card, having 3 NGN switches does not mean developing an NGN network, u need any digital system switches e.g EWSD: V.7; V.10 (V.12) ? V.15.  and other components e.g DLUG -RDLU RCU ;LTG ;DDF -PSM -CP – MB – CCG – EM – OMT -SYP etc, not to mention the optic fibre, now ZAMTEL had 3 NGN switches which were not being used in the NGN network bcoz they had no capacity to do that, about the ISDN and 3G these technos were introduced early this yr…u shud be upto date Man, i work in europe bt got more data than you in zed.

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