UPND leader Hakainde Hichilema has called for an end to the culture of wastage in the use of public resources in light of the rising budget deficit.
Mr Hichilema said the current situation requires serious and immediate action, and a series of measures big and small such as an end to waste.
He said the UPND has talked before about how Government costs are far too high, with Government living beyond its means and leaving the Zambian people in poverty as a result.
In a Facebook posting, Mr Hichilema said Zambians have rightly reacted with concern to the announcement made by the Minister of Finance in Parliament this week that the economy is in trouble and that as a result, the PF Government will be seeking to borrow vast amounts of money in order to try and plug the financing gaps.
‘This from a Government that in the previous 3 years has already accumulated the same level of debt as were accumulated in the 27 years before that sounds bad,’ Mr Hichilema said.
[pullquote]Mr Hichilema observed that for the cost of just one car, Government could pay 50 teachers on K5, 000 a month for a year.[/pullquote]
‘We have compared the cost of the generous vehicle allowance senior government officials are entitled to, which includes two vehicles, maintenance and fuel costs, to the cost of teachers salaries and sinking boreholes,’ he stated.
Mr Hichilema observed that for the cost of just one car, Government could pay 50 teachers on K5, 000 a month for a year.
‘Think about the knock on benefits if this money was spent on teachers and education, compared with when it is spent on buying an imported car,’ he said.
‘Looking at the bigger picture we need to open up sectors that offer strong prospects for growth and job creation. In the UPND we see particular opportunities in this respect for tourism, agro-processing and technology for example.’
Mr Hichilema said by providing a stable policy environment, consulting widely and incentivising investment and business start-ups in these sectors, the UPND government will not only move Zambia forward, but also greatly accelerate the pace of growth and the outlook for the future including creating jobs.
Ba HH please mind your cows for now, let your friend President Lungu finish his mandate then you can replace him, if the Zambian pipo will vote for you into office that is.
Isn’t there something else you can say or commend the government for what they have done? Always Lungu, Lungu, lungu aweeee, twanaka!
Ndiwe cipuba shinyenga that is why sunyenga!
HH makes a lot of sense but the idio.ts in power have no brains.
Why would government be buying new cars when the cost of running these cars is high….. Edgar “Jameson” Lungu should forgore the Stanbic loan and let GRZ officials live with the cars they have.
Lungu should also reduce the size of government, drop some ministers and remove all deputy ministers, this will save government huge sums of money.
Let government officials buy their own talktime, phone, cars and fuel.
And please avoid future bye elections…… we have had more bye elections than any other country in Africa and we have broken a record so let us stop…. enough of it, we are wasting too much money on elections!!!
K5000*12= K60,000 and K60,000*50= K3,000,000.
# nkope. Zambians economy is weak or useless now depends how you call it . Put Zambia for sale or rent !! Millions were told that has know vision but people still voted
Well said my brother. HH is power angry. He is always talking about Lungu. Let him concentrate on his cows. Whether with wastage or not we will vote for Edgar Lungu. We do not want somebody(UPND) to bring or authorise the movement of cows in the streets of Lusaka and else where which will bring commotions in our towns. Voting for HH will bring cows jam
Webwawe patient obe ali kuchipatala
Ulichipuba iwee mwanaka insi when someone is trying to provide solutions to this clueless pf govt of chagwa.
You cannot even afford amatumbo ya ng´ombe iwe (icifu) , but you ranting.
Look at Botswana our teachers taught they are better than us.
We need such leadership so that your relatives who are malnourished can eat beef and drink milk.
BA HH UKULANDA KWALYANGUKA UKUBOMBA KWALISHUPA.THAT’S A SWEET TALK WE CANNOT GET YOU CLEARLY,WAIT FOR 100 YEARS TO COME.
EVEN IN ROME WHERE THE POPE LEAVES THEY BORROW,AMERICA BOROWS WHAT ABOUT US 3RD COUNTRY?
MALANDA KANWA AYO.
Pease, learn to diferenciete between government and lungu. HH hasnt mentioned lungu here bwana. but since u know he is the one wasting resources you yourself have mentioned him
kkkkkkkkkkkk kwena ulicinangwa iwe
Right Ba HH,
In addition, please lower the threshold for small-scale investment from “friendly” foreigners living abroad so that we can bring our savings and set up business in Zambia.
I have plans to rare chickens and pigs in Kafubu Block, Luanshya.
My produce will be retailed through my rented shop in the Luanshya second-class trading area.
The manure produced, will be used to grow vegetables.
Once a month, through the district agricultural office. I’ll home open days to pass on knowledge to people interested in farming in Luanshya District.
Apart from producing cheap food for the residents, I estimate that I’ll have 12 full-time employees from the venture, and probably a similar number of temporary workers.
My business plan and cash are ready, just awaiting legislative…
Kwana naiwe,all the from the UK to go to luanshya and rare inkumba?
@Bashi Profiti, my friend you have a good point and I appreciate your contribution. I want to comment too on this issue. First of all iam a proud independent Zambian citizen. What I mean by independent is because I don’t belong to any political party and I support any one with a valued point, and it’s for this reason that I support what HH has said here and we have to reason enough,he has a point that anyone would agree. The biggest problem in zambia or Zambian politics is that people people tend to support blindly. The department of Finance has just issued the economic issue to let us know where the country is standing economically and on top of that they are talking about buying new vehicles for ministers, come on now who does that? You don’t need a rocket scientist to tell you that…
Correction
sorry rear
I continue. That we don’t need a rocket scientist to tell the government that it’s wrong. Most people will ignore the important message from HH just because he is an opposition, if he has a point let’s take it and work with that than just say he is talking again. It’s wrong at this time for the government to be talking about buying vehicles while they have run out of the Eurobonds, it doesn’t make sense, just like it doesn’t make sense for Edgar lungu to be in South Africa for a medical review with all the ministers with him and his family members at an expense when he can be at a local hospital for a medical review and the local doctors can send the report of their review to his doctors in South Africa. Please let’s stop this madness of going to South Africa for medical attention.
The only problem with HH is that he is Tonga. No one can dispute the fact that the man is a very good economist and, given a chance to lead this country, he may turnaround our economy for the better, but a Tonga is a Tonga. The selfishness and pomposity in Tongas stinks and this is the more reason why Zambians keep rejecting the man.
JJ can you please tell us what stinks about Tongas? So you would rather vote for someone who cannot perform just because the right person is Tonga? Please lets learn to unite and choose something better for once! I used to be proud of Zambia a few years ago and could even boost of how strong the economy was improving, but not anymore it is even a shame to even call oneself Zambian because of the way our economy is performing due to poor and corrupt leaders
@JJ, what’s wrong with being tonga. Please guys can we grow up with this bush mentality and be one, iam Mambwe and I have no problem with who is in power. I could be busy looking for the Mbala mafia to be president but the tribe does not matter, this HH guy has a point here and I agree with what he is saying, being tonga is not an issue, where does this come from and when will this come to an end? Please one zambia one nation, that motto does not specify who is to be a president but any Zambian. And UPND should not be considered a tonga political party, this guy almost won and not only Tongan voted for him. My fellow zambians please the time has come for us to wake up and change the way the country should move forward, otherwise we are not going anywhere apart from becoming one Zimbabwe.
It’s you who stinks on account of tribe and you will die miserable because of the hatred in you. The generation after you will be cursed too for hating God’s creation without reason. You suffer from an inferiority complex and you want to blame it on others.
I doubt if people have anything personal against HH. The man is a gem. There is a reason why Zambians have kept saying no to him. You can’t the voters. Its about that “Tonga thing” one negative characteristics we see in almost all Tongas we live with in our communities hence Zambians are not sure if HH can change overnight, to recognise, appreciate, sympathise and work with people from other tribes. Go to that Insurance company owed by HH, check the names of people in top and middle management, you will be shocked by your findings. Bembas and Tongas are the two most tribal people in Zambia. Sata was a shameless tribalist. EL is different. The only problem with him is that he has no clue or is not interested in fixing the economic mess left by Sata.
@ 1 Nkhope Munyengafye
You sound like you are in Kaputa or chilubi. If in UK, you really would be updated with civilised politics.
HH is raising substantive national issues that require urgent attention. HH like all Zambians who are concerned is reacting to minister of finance Alex Chikwanda who said Zambian economy is in trouble. Surely, this should concern you as well than issuing foul statement in bad taste. Zambians deserve better leadership national guidance than party cadre vigilante thinking from you.
Get real and talk to me.
@ Nkhope, you are right. Like I said in my early comment. The statement from the Finance Minister should concern every Zambian and they should not ignore the valued point from HH. Why now if the government is broke would they be planing to go and buy vehicles when the economy is going down, just adding more to what it is. They will bring those vehicles and add more expense on fuel cost and maintenance to those vehicles, those ministers they are buying those cars just drive at the government expense and all that. No one is talking about cutting costs while the economy is getting tight but add more stupidity to what is happening and foolish people with a very little brain will support the nonsense just because they belong to a ruling party.
Sorry I meant to say@ Aquilla not Nkhope munyengafye, what a name no wonder you can not think properly, you are controlled by what’s between your legs, ichibwamba. because you are thinking about ukunyenga, you are a fool. No one should ignore what HH is saying here he is very right. Mr Chikwanda has told the country that the economy of our country is going down and yet the fools are talking about buying more vehicles and you munyengafye, what’s to nyenga more wholes for free, you can’t even afford a condom, ****** we!
h.h is right you no
more money to us cost of living is high so HH is right
Cost of living will even be higher with HH. He is not telling us how he will reduce poverty. he is only shooting at pop-up issues. We need a serious conceptual developmental framework that is specific to UPND. Currently or he says is that he will improve what PF is already doing. It is better to be with the PF then since they are the authors of what HH wants to improve.
He says he will not borrow, this will mean only those who already have money will be happy because taxes will have to go up to supplement the budget deficits.
He says his minsters will have adequate transport, hence inefficiency.
Do not just jump/dance at whatever HH says. Be analytical and you will see the devil is in the details.
HH the master of wastage, by consistently wasted his chances to win elections.
ba hh mind your cows for now please
but ulikapuba zoona ayi? Wachibutukila fye mu ku commenta? Akamutwe ukukosa.
your thinking is what is worrying and giving hh sleepless nights. He wants to liberate you from poverty so that you start looking at cows as assets with economic value that can stop us from borrowing.
You cannot even afford amatumbo ya ng´ombe iwe (icifu) , but you ranting.
Look at Botswana our teachers taught they are better than us.
We need such leadership so that your relatives who are malnourished can eat beef and drink milk.
POLITICS ASIDE WHAT HH IS SAYING IS VERY CORRECT.NOT EVERY POINT AN OPPOSITION RAISES IS BAD BUT ITS FOR THE GOOD OF ALL OF US.
THANKS HH ON THIS ONE
@Tutu, you are absolutely right politics aside, but most zambians will talk and say he is just talking, we can not run away from the facts. If the country is going down why would anyone support the buying of vehicles for these corrupt ministers, and yet the government is still planing on borrowing more money to secure the Eurobonds, what a mess we are getting ourselves into.
Rich but dirty! Two suits, two pairs of shoes, two neck ties, yellow teeth but swimming in money. I think there is something seriously wrong with Mrs kachema the dorcas mother.
“The UPND, the UPND” when its just the views of one man. This is reason why PF under EL is failing the Zambians. PF was Sata. Now that he is no more the PF we have now is a just shadow. Lungu and his team are just here to eat and Zambians are just watching.
You cannot even afford amatumbo ya ng´ombe iwe (icifu) , but you ranting.
Look at Botswana our teachers taught they are better than us.
We need such leadership so that your relatives who are malnourished can eat beef and drink milk.
@ Mwiinga
Who is talking. Just look at the picture of Bugs Bunny with hat.
The leadership is HH well said presido those cars for what meanwhile Zambians is dying of hunger.
let come on and remove this criminals nd sud arrested . team HH
How will HH’s ministers working? Riding bicycles, ridding minibuses, being late to work? unable to visit their constituencies due to lack of proper vehicles, etc. The super HH will be riding in his huge cars like the king of Z. I call this selfishness. Just because HH has ability to buy cars, he does not care about helping his minister with better utilities.
This is a warning. Life will be hell under HH.
Why reason like kids. Under five politics are very easy to see.
It will be a very inefficient GRZ
@ Fred, who do you want him to talk about, your mother?
HH is just bitter. Where did he see govt buy utility vehicles costing K3,000,000. Why exaggerate when cars even new one that govt buys cost far less. That is why the people of Zambia do not trust him.
He said the cost, which included running costs. Don’t show your lack of reasoning.
John Chinena dont behave like someone who dont have access to internet, please google right now and check the price of a brand new landcruiser or Toyota hilux ? If those costs were to be summed up for all the Ministers and Deputy ministers how much will it give you? besides, we dont even need two deputy ministers and the state house deputy minister. Dont forget most of these utility vehicles are bought on credit with interest
Attention to detail,HH said the ‘running cost’ and not the purchase cost of govt. utility vehicles…as zambians we should learn to look at the postive side of criticsm or is it advice.
@John Chinena you are only confirming the mentality of majority Zambians mind sets: you buy stuff without bothering about how you will maintain it. You build mansions and forget periodically you have to replace stuff and repaint. Says a lot at why beauty in Zambia is only surely skin deep – only when things are new…
Politics aside, HH is right on this one. Poverty levels in Zambia are increasing at an alarming rate. All well meaning Zambians must put politics aside and find workable solutions for a better Zambia. Poverty affects everyone whether a PF cadre or an opposition cadre. Let us embrace positive thinking for better mother Zambia.
On this one HH is right. Very right infact.
Imagine this guy being President of the Republic of Zambia.
MAIWE!!!
You are an empty tin my friend i dont know how this world has managed to accomodate fools like you.
Those who are insulting HH should go back to school to become more civilized!! As a citizen HH has a right to offer alternatives to leadership and there is nothing wrong he has done but to articulate issues as we would want to hear and see them implemented. We know that infrastructure development is needed but it required planning with prioritizing in implementation. The absence of this has cost the country a lot and may put us in great economic difficulties for some time to come. “HH go and look after your cows”- what is wrong with having cows?? Cattle is wealth,you should admire it. The only problem HH has is how to organize a dynamic group of influential Zambians from all regions so that he message can be well propagated and dissociate from divisive politics.
There is wage free currently,subsidies were removed and loans were obtained but nothing to show of to the country.
Country men and women i don’t belong to any political party but what PF has done has never happened in the history of this country with budget deficient of K20 M within 6 months and somebody is proud to say we shall get more loans when we cant manage the little we have and what we got from Euro bond
Why having two or three deputy ministers and Permanent Secretaries in one ministry.
In my conclusion, the catholic church is the agent of devil looking at how mute they have become.When the economy was doing well under Mwanawasa and RB every week they were issuing the pastoral letters but where are they today when people are being shot,insulted,economy depending on kaloba?
hmmm Mumba was talking yesterday and now HH and maybe Nawakwi tomorrow.
@ Amagenge,lets not joke about real issues reflect on what Hon. Chikwanda said in parliament on tuesday and yesterday and you will understand what HH is talking about.The PF govt has been reminded time and again about the issues of stricking a balance between the Revenue side and expenditure side but they thought they were a know it all. Believe me you these issues are real and they will come to hurt us economically starting from a household level…Look at countries like Greece in europe.
Hunger does not look at tribe, neither does it spare tribe mates to the president.And honestly speaking,there are few Tongas that are poor as compared to those tribes who hate them.Continue choosing leaders on tribal lines and we will see which Pronvice will dasappear first.
Put your tribalism aside and put your country first, think of the 60% of the population living in poverty and the plunder and mismanagement going on, give Hh a try.
That is Excellency, mr president HH, talking, wise man, come 2016, plot 1
It is very worrying that so many people refuse to acknowledge the very big problem facing us. Perhaps I can explain using basic language.
The country is almost out of money. The Finance Minister told us that they need to find ZMW 20 BILLION pay bills that are due this year. If they can’t find the money then roads will remain unfinished, the universities will never get roofed, the civil servants will not be paid, their will be no fuel in the country…
Now the plan that the Finance Minister has is to borrow the money. So that they can finish the roads, universities etc. However, no one can tell us how we are going to pay back the money we borrow… not even the Finance Minister.
What Mr HH is saying is, rather than borrow money why don’t we cut our spending. Is that not…
@Whisper, you really explained it in a basic language but my friend I can tell you, there are so many zambians who would rather ignore the facts and run to criticize the facts, it’s like your wife tells you that she is pregnant and instead of preparing for the babies clothes and the needy stuff you chose to ignore it, and when the baby is born there are no clothes to cover the child in, does that make sense. That’s what is happening here, ba Chikwanda mentioned what’s going on, and what’s going to happen if they don’t find the zmw 20 billion. Which will mean roads projects on hold, university and all those projects he mentioned, but a fellow zambia will say HH go and sell your cows. Please, do you really care about your country, for you to send such comment. Fellow Zambians it’s now…
The big problem is the government is controlled by pipo who re corrupt and they don’t care about the future generation
If HH cared about Zambia’s future, he would not have given the nation a raw deal during privatisation while amassed dollars from himself.
I refuse to be cheated by this hypocrite called HH. I know him better. He is the worst trick star in Zambia.
Talking about his pride, unspeakable!!!
How he became leader of UPND, shameful!!
How he privatised our institutions, criminal like!!!
This is HH’s CV they way we know it.
Every country on this earth is in debt (including the worshiped USA, UK and many western countries)… What is wrong with us borrowing to better for example, our colonial era infrastructure…?? How much did the US, British or French governments borrow last year… or who owns the US government debt? Think before you wafo rose economic statements which only makes sense to your selected few inner circle worshipers.
Ati economist, malabishi… GO and make your country KWANU!!!
Those countries have the capacity to pay their debt because they know exactly how much they will reap from their spending. They conduct detailed analysis to understand how much each road they build will generate in extra income and balance it against the cost. If it makes economic sense then they go ahead. We have done nothing of the sort and are just building haphazardly.
Going back to US, UK, Germany etc. They all cut their spending by huge amounts when they discovered they had budget deficits. They understood that with less money coming in they had to cut their expenses.
Ba Soko, those countries you mention borrow but create wealth as well, they make things. Zambia can’t even make a spoon, and had to relay on dept relief to survive.
Now we are building up that same dept again while depleting our natural resources.
I have seen many use this as justification for borrowing more money. But let’s take Zambia railways, he govt p,ut $128m, the company Still needs more money. What are we gaining for that investment? We have to think about corruption as well. Lets get an additional $2 billion, to finish universities, roads and hospitals. For a population, wea the majority are failing to put kids through university, I don’t see how these projects are going to generate income. Are you going to borrow more to pay lecturers??? You are failing to run unza. Our ability to reason is very poor. I think we need to fail badly, then will wake up.
Akainde has already been tried that’s why we can’t have him as a president of Zambia. The pomposity among tongas will rich provocative levels in the country there by start seeing other Zambians as less important people. We have had enough from these tongas at work places when there own is a boss. So akainde should just concentrate on his business. Becoming president will only happen if tongas change their egoism and the Grace of the God.
The other thing is he likes exaggerating things thinking like he is telling people who are illiterates. Satas political gimmicks should never be used as a hose for to ride on to plot1. Be your own person HH if you want to win favour from people.
Lastly people who support HH are all !D!@TS because they think those of us who are pro pf are dunderheads.
Surely Sata & now Lungu did great damage to Zambia by employing his tribes men in key economic positions,these morons can not reason,are liars,serial killers, irrational,diabolic,incompetent,inept,primitive,illiterate,dull,backward,…!Zambia’s economy will never develop with such people who only yap hollow compulsions & specialised in having long finger only to embezzle tax payers’ contributions as well as contracting huge loans using poor Zambians as collateral! These people are evil & can stop at nothing in their quest to remain in power perpetually.They can corrupt & kill using any method at all cost to return power!The whole institutions of moral just have been corrupted under them!The civil service has been polarised,the catholic church is no longer pro -poor!We miss Heriot &…
Talking about tribalism, go the UNZA and find our how Tongas are favouring themselves and blocking other from progressing in many departments. Even just getting a loan is a problem if you are not Tonga. Find out and you prove me right. Then give HH to rule, who is going to cough in Zambia? Non unless you will change into Tonga.
HH you are assured of my family’s votes next year! I will make sure that even my peers, workers, maid and servant etc vote for you.
Pleas, is this true, the dept acquired in 27 yrs has been breached in 4yrs.? can this be true.?
What HH said is something good. The cars the gvty officers use are too expensive
@Nkope Shinyenga, you are so thick in your head! You are one of those people making Zambia backward. Why bring an issue of cows on such an important topic you *****. Countries like Botswana survived on cows before discovering diamonds. If you don’t know (because you are narrow minded) even the best rated economy in the World ….Confederacio Helvetica (Switzerland) partly attributes its strong economic performance to cows (dairy) and please take your primitiveness away from this platform. Dont politicize anything you hear from the opposition ….you bastard!
HH should show us how it done. he should start riding a bicycle himself. He heed to be practical and exemplary. Just talking and day dreaming is not enough.
It would interesting to HH and his minister getting minibuses.
He also learn through his informants that there will be a statement on the government wants to curb wastage including maize. Check the later news and you find this is true.
HH tactics are so childish and amateurish to say the least.
Please be reasonable.
HH buys his own cars, he doesn’t have a Govt vehicle. Why should he travel by bicycle??
What has been said is that Govt. should not borrow money (from a commercial bank that charges 14% interest on the US$) to buy new cars at this time. We are not in a position to spend more money.
Is that so difficult to understand??
@Yebo Nkosi-just reflect on your trashed literature in your blogging!You are dull,feeling to grasp simple literature that has been used in the article!poverty of the grey matter this primitive adult fool!These are people with ill qualifications employed by the chief tribalist Sata! You are cronies & morons of a Bemba clique stealing big time in government with poor certificates-come 2016,you will see the real revolution in ushering the saint Kachema, HH in state house(new kasama)-zwaaaaazwaa!
Throwing tantrums will not help you. I was only thinking aloud about how HH and UPND will manage GRZ without adequate transport. I find this absurd and not practical. It is only unreasonable politicking.
What has what HH is saying and what I said has to do with Sata and the Bembas. Will you not require the Bambe vote if your HH will have to see plot 1? Iam sure you need the votes of NP, CP, LP, MC and EP. From they way you talk, you think like an addicted tribalist who thinks that all Zambian are Tonga and support HH and UPND.
I do not anywhere in which it is written that unless one is Tonga or supports HH is dull. All people from various tribes have rich and educated people. Remove your Tongism tag and become a Zambian.
I want your intellectual articulations not your useless…
No matter what tribal HH will say,i,my wife,children,daddy/mum and close friends will never for HH till he retires from politics due to his causing of unemployment by selling govt firms,his tribalism and thinking that he the only educated and angel in Zambia!!LET HH FORGET ABOUT PLOT ONE BCOZ MAJORITY VOTERS DO NOT LIKE HIM!!GO PF GO AND BRAVO ECL!!
HH makes a lot of sense. He doesn’t just talk, the man provides real solutions. I pity you people who even in the middle of the crisis you still play joked
Realism is based of proof. What HH is currently doing is presupposing. This just his thoughts which can not prove true when trusted to reality.
We should not forget that that HH, like anyone other politician will use anything, even Utopianism to make themselves appear as magic wand throwing politician, but when confronted with challenges of reality in governance falter badly.
My problem with HH is that he has proven track record in governance at any level. So he is just politicking and his utterances cannot be taken as heavenly truth.
Zambia is not a business entity. Their is more to governance than business. HH is looking at Zambia with a profit and loss balance sheet. Other issues go begging as footnotes in his rhetoric.
Anyone with half the brain can learn from HH s statement. That’s why he is educated and a contemporary economist
@Yebo Nkosi: I’d rather have a government run as a business for a change than having it run as a charitable organization as it is now.
My problem is that HH government will only be for the rich and affluent. Because all social welfare programs that require some sort of sacrifice, it considered as wastage and charity under his government.
HH has face for the poor. He is only talking about business like matters. People need water, housing, electricity, food, etc,
Zambia also needs to integrated into a strong unitary society, but from what you the support of HH are telling us that unless one is Tonga will be considered as dull, unintelligent and unfit for any good. This is the language we are getting and it is very scary. HH is very silent on this matter meaning he accepts it as the status quo of his governance to be.
The way Tongas are being insulted. I have only one solution. Let us divide Zambia so Tongas get confined to Southern Province. If people dont love Tongas yet cling to Southern Province as part of Zambia, is this not a contradictory. The solution is simple. Let Tongas go and be confined to Southern Province.
Can we please have a bit of a reality check.
ZCCM, INDECO, ZIMCO… most all the state-run companies, were broke and failing when WE were threatening to default on our loan payments because we had no money and were spending more than we were earning. Just as we are today.
The World Bank, IMF and other people we owed money to told us to sell whatever assets we had and use the money to pay our debts. Most of the state-run companies were put up for sale cheaply because we needed the money. Just as we do today.
Whether the companies were undervalued or not, I can’t say because I don’t have all the data. However, we must remember that the biggest of them all ZCCM was losing over USD 1m a day because it was not mining, but instead looking after communities. It was a charity!!
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