The MMD in Luanshya has called on government to find a genuine investor to take over the running of the closed Luanshya Copper Mine.
Luanshya MMD District Chairman, Joseph Kapelwa said Government must ensure that whoever will take over Luanshya Copper Mine is a genuine and credible investor, to avoid the recurrence of closures.
Mr. Kapelwa told ZANIS today that the people in the district will not accept a briefcase investor. He appealed to the people of Luanshya to accept any genuine investor regardless of their country of origin.
This follows complaints from some members of the community that, should government offer the Chinese to buy the mine, workers are not likely to receive good salaries.
Mr. Kapelwa encouraged the people of Luanshya that what they need is the protection of their jobs.
Mr. Kapelwa said it is not possible to fight for a good salary when they are not in employment.
Meanwhile, Residents of Luanshya have expressed displeasure at the way the police are handling the movement of mealie meal in the district.
Luanshya Constituency MMD Vice Chairman Ackson Shawa today complained that the police in the district are not helping the government in controling the overpricing and smuggling of mealie meal.
He said this is causing artificial shortages, causing members of the public to queue for the commodity.
He complained that some unscrupulous business people have taken advantage of the situation, selling a 25 kilograms bag at over 60, 000 kwacha when the government subsidized the maize.
But district police commanding officer Hudson Namachila refuted the allegation saying the police are on the ground working in conjunction with the District Commissioner.
ENDS/MM/PK/ZANIS
They are correct,we tired of briefcase infestors,
Investors will only go where they see potential for growth and profit making for their investment.
There are many different kinds of investors, with many different objectives.
The key is to identify investors who want to be in Zambia for the long haul, and will therefore reinvest profits locally, and use only local suppliers.
That is the only justification I can see for having foreign investors at all.
How about this: the GRZ gets together with western pension funds, and has them invest in the mines. How about that for long term investment? (They could issue longterm bonds or other vehicles penions funds could purchase.) They could couch it in terms of ‘developing Africa’ , ‘switching from aid to development’.
They could identify miners who are interested in long term strategies, and who want (after mining and exhaustion of local pits) to diversify into other sectors, like transportation or agriculture.
There is no reason the GRZ should take the first investor who sees the chance of making a quick profit.
Where on earth are you going to find the correct investors for Luanshya Mines?? When is it going to happen? Abantu bachula pafula.
Luanshya will get serious investors, as soon as the government gets serious about how it wants to develop. ‘Market Forces’ cannot be relied upon to make everything right.
Now what the government could do, is identify key sectors in Luanshya, look at how it can vertically integrate suppliers (SMEs) with investment, and attract investors who want to be there for the long haul, and who will develop as Luanshya develops. They key is re-investment of profits by any non-Luanshya investors for the purpose of expanding existing businesses or creating new businesses.
Contrast that with the present situation, where ‘investors’ can expatriate profits and are not bound to use local…