The newly constituted Zambia Open Golf tournment organising committee has unveiled a K4.5 million budget for the 2014 competition to be held at Nkana Golf Club in Kitwe.
And Mopani Coppers Mine Chairman Emmanuel Mutati will lead the 2014 Zambia Open Organising Committee (ZOOC) which was unveiled in Kitwe on Friday morning.
Immedietely after the introduction of the committee, Mutati said his team needs to raise K4.5 to successfully host the tournament dubbed “The Mopani Copper Mines Zambia Open 2014”.
He expressed confidence that the international golf tournment to be staged next May will be a success.
“One of the key challenges in hosting an event of this magnitude is raising funds for various aspects of the tournament. The ZOOC 2014 has a budget of about K4.5 million that we need to raise to successfully host the tournament,” Mutati said.
The unveiling of the ZOOC 2014 was graced by Kitwe Mayor Chileshe Bweupe, Mopani CEO Danny Callow and Zambia Golf Union
It will definitely be a Success, working with Mr Mutati a humble Man is so inspiring.
All the best.
Imwebakolokombwa put the money in Mighty!!
MOPANI GUYS ARE CROOKS,,INJECTING MONEY INTO SILLY PROJECTS IS A WAY OF DOING AWAY WITH THE PLIGHT OF EMPLOYEES,,IMAGINE FOR ATTAINING 10YRS AN EMPLOYEE IS GIVEN KR1000,,EVERY YEAR INCREAMENT NEVER EXCEDS KR180,,WHAT FOR..SUCH A BIG COMPANY..MANAGERS POCKETS KR10,000 WEEKND ALLOWANCE,,WHICH I DONT GET EVEN PA MONTHEND..WORKMEN, ARTISANS, FOREMEN & G/FOREMEN BACULAFYE KU MOPANI EVEN NKANA WATER IS BETTER OFF..DANNY CARROL DO SOMETHING
Those looters misapproriated at least $500 million since 2003, they only wish to improve their image.
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According to NGOs in its 2010 pilot audit by Grant Thornton, Zambia and Econ Poyry, Zambia lost an estimated income of USD 175 million in tax revenue between 2003 and 2008 from tax avoidance practices’ by Glencore AG International owned Mopani Copper Mines.
copper from Mopani is sold under a contract with copper in one instance being sold at 25 per cent of official prices at LME. In other words, they are not paying taxes over 75% of the copper sold to Glencore.
“Zambia continues to lose on dividends from Mopani Copper Mines as the Glencore owned mine never declare any dividends to Zambia Consolidated Copper Mines Investment Holdings.
continued
During the period under review, Action Aid estimates that the Zambians government lost an estimated USD 50 million per year in undeclared dividends to ZCCM IH by Mopani.Copper Mines, according to Action Aid was avoiding declaring any dividends by ZCCM IH through transfer pricing and over statement of the costs.”
“The auditors found that MCM resisted the pilot audit at every stage. The company’s book-keeping was incomplete, several legally required documents were lacking and the general ledger analysis showed several loopholes and couldn’t be matched with the trial balance,” the organisations stated.
continued
. “The auditors also found an inexplicable doubling in the costs of the company between 2005 to 2007, which shows that the company has been artificially inflating its costs to minimise the profits shown in their books so that they could pay less taxes. Despite the fact that the audit was finished in the fall of 2009, it was kept secret.”
Rosco, what is the way forward?