FDD President Edith Nawakwi has said that the manner the PF is handling the fiscal policies is investor unfriendly. Speaking when she addressed Constituency officials from 5 constituencies in Kitwe District, Ms. Nawakwi has observed that the closure of mines in country is not about the low copper prices but the ineptitude of President Edgar Lungu and his Finance Minister Alexander Chikwanda.
“The manner in which Mr. Chikwanda has handled the fiscal policies this country is investor unfriendly. Today he wakes up and says this, the other day that. He is handling investments in this country as if he is supervising the sale of tomatoes at the market.
He is not aware that investors world over go to countries where they are welcome. It is very clear that investors in this country have been clearly told to their face that they can pack and go from the ministers in government. Time to time, we have heard from the mouths of the Kambwili’s and state house that investors can go,” Ms. Nawakwi said.
“It is clear that this government is not striking a balance for the investment to benefit the Zambian people. The behavior of this government wants the investors to go. These ministers are interests are for the mine owners to go away so that these ministers can bring their friends to pick up these mines that is the only objective,” continued the FDD President.
She noted that there has been no attempt by the President and his Government to understand the challenges the mining sector.
“Look Chile is doing mining, are people closing the mines No! Chile is selling the copper to the same clients but why are they not closing? But when you have a government that does not know when the next rain season starts its a problem.
The closure of the mines is not of low copper prices, but the ineptitude of President Lungu and his finance Alexander Chikwanda. If we had different crop of leaders, mines could not be closing. At the moment government does not care for the job loses in the mines.”
She added ” …it’s unfortunate that copperbelt voted for Edgar Lungu and have paid and will continue to pay for that generosity because he has paid them with a scorpion and not an egg.”
And Ms Nawakwi has expressed shock at the unleashing of police officers to beat up students at Copperbelt University when the police should have a motherly face as the institution is run by a mother.
Ms. Nawakwi said it was sad that the Zambia police has continued with its brutality as people expects it to have a motherly face due to the increase in the number of women in top positions.
She condemned the brutal attacks on students by the police and wondered how two mothers, the inspector general of police Stella Libongani and her junior copperbelt commissioner Joyce Kasosa could allow such brutality on their friends’ children.
” What is shocking me is for a mother to unleash police on innocent students. Does she have a humane heart? Even the copperbelt commissioner of police ( Joyce Kasosa ) is a mother yet they unleash police on students. That is very sad and we condemn it. What is so shocking is that the IG, a woman can release the police to beat up students like a dog that has stolen a chicken,” she said.
Ms. Nawakwi who is in the Copperbelt for Party mobilization also held public meetings in Nkana Constituency were she called on residents to vote out the PF as their 4 years in office has turned out to be a waste as can be seen by the escalating prices in commodities and services.
Know vision let Zambians enjoy and suffere more . K 20 for bread , hope people who voted for lungu are enjoying load shedding and worst currency . 51 years of independence worst of time , 1950 only 20% of Zambians where suffering. 51 years let 90 % of Zambians are suffering , what was the point of indendpence .
Zambians are bewitched people,,, they don’t understand accurate advice,,, they addicted to being lied to!
These mining investors we have in Zambia, if you are not careful with them, you cannot get anything in form of tax from them.
Am tired of this fake economist called Nawakwi……..what about the sale of copper mines in Australia owned by Glencoe(owners of Mopani) due to low prices, is that also due to the bad policies of ECL? Once upon a time, Zambia paid more than $4m for maize which was not delivered under the Carlington maize deal when she was Minister of Agriculture,Food & Fisheries and millions of dollars where transferred to the Zamtrop account at ZANACO bank in London when she was Minister of Finance….imagine what those huge somes of money could have done if they were used towards developing this great country. On the issue of CBU there’s nothing like “ABSOLUTE FREEDOM”. Freedom should not be abused, when we abuse anything that we have the right to own, we risk losing it. Freedom is not an exception-…
This is a typical Hitler/Goebbels-style
propaganda which believes in using a small
truth to propagate a big lie. When you where minister your government sold mines for a song all in the name of welcoming investors…….Edgar is fighting hard to correct the mess you left Ms Nawakwi.
@Jacob
Just accept that you have squandered your retirement money iwe chi Jacob. Which bread costs K20? The problem you id10ts have is that you think people don’t think. The most expensive bread one can buy K7 and the average K4.5. Why do always want to tell lies when infact people know very well that this not true? In 1950, the population of Zambia was only 1 million and people where under colonial rule. Today the population of Zambia is approximately 14 million and you the very old chaps had no vision for an independent Zambia. Now that PF is trying to correct your past wrongs, you want to hide as if people cant differentiate 1 from 2.
Just continue being bitter as we progress.
President Lungu has done nothing to scare investors. Copper mines are being shut down the world over and there is nothing Nawakwi or HH can do if they where in power. I am a lay person when it comes to mining but the news about how copper mines are not as profitable and consequently closing was on all reputable international news channels. Every day it’s Lungu this, Lungu that. Surprisingly even the oh so educated UPND cadres think it’s Lungu’s fault!
So pf has had been ruling since 1964.
I think you are un ***** who brings rain is it lungu or God. You just stay at home see what is happening in neighbouring countries
Things were better before indendpence , Copperbelt will never be same like it was in 1950 . African government have no idea how look after its own people , call back your colony .
So Nawakwi you investors to exploit the Zambians in the name of welcoming. Even if they go better we suffer than being exploited. Genuine investors do not exploit. We need pipo like Dangote who is able to reduce the price of cement even when other companies want raise It higher.
Iwe! Are bewitched also? Your mind is polluted with lies,,mama Nawakwi is right! PF can’t handle anything in a right way
So Nawakwi you want investors to exploit the Zambians in the name of welcoming them. Even if they go better we suffer than being exploited or mistreating the Zambians. Genuine investors do not exploit. We need pipo like Dangote who is able to reduce the price of cement even when other companies want raise It higher. Shi mine alicindeme not ifitulemona kuli aba baisa. Yali ni ZCCM. Imwebene ba Nawikwe noyowine umbi mwashitisha ama mines pamutengo unono. mwasha bantu panse mwayakana ne ndalalama. Elo inonshita mulebwabwata.. If you want to be in State this is not the best topic for you madam
shi maini alicindene elyo Yali ZCCM. Imwebene ba Nawikwe noyowine umbi musabaila nankwe mwashitisha ama mines pamutengo unono. mwasha bantu panse balecuka mwayakana ne ndalalama. Elo inonshita mulebwabwata.. If you want to be in State House this is not the best topic for you.
But Nawakwi is on record saying Zambian must benefit from the mineral the nation has ,today government makes a decision that will benefit the nation, she turns gain… Kaya politician.
@one
She is not turning around! Handling of any crisis can make a difference between life and death! PF has no leadership,,, they want to be ordering people around
Nawakwi is right. There’s no goodwill between the PF govt and mining investors anymore. Chikwanda borrowed $600m interest free over 4 years from the mines by not refunding VAT. And then he PFooled astound with mineral royalties. Surely at the first opportunity the miners should be willing to kick Zambia in the teeth! There’s no partnership with investors anymore.
We all have roles to play to make Zambia work, hence we should discover ours and begin to do them. Edith Nawakwi is telling lies to the nation she dwells on assumptions and not facts, half truths and propaganda. The problem facing the price of base metals and commodities is world wide problem. Please madam put your facts right because Glencore has closed mines here in Congo, Australia, Chile etc. There are only two markets for metals thus London Metal Exchange and Shanghai Market and these two markets control the price.
@Pio: where is Glencore shuttering mines? DRC and Zambia, not Chile. Why? Because there’s no goodwill between govts and investors in Africa. Investors are seen as either suckers or exploiters. Glencore is just paying back in kind for the lack of good relations with govts.
Iwe Pio wilatubepa about Nawakwi telling lies; She is very correct in her analysis of PF. Glencore was approached by potential buyers for its mines in Australia and in Chile. Glencore did not close those mines or put them on care and maintenance as it did here in Zambia. The high copper prices actually masked the PF govt’s ineptitude in dealing with the mining industry. Lelo you issue this statement mailo you reverse. Even you, nga ulabomba how can you plan if you are told lelo your tax rate will be 30%, mailo nga government yapya ati awe tax rate ni 45%? You cannot underestimate the role that kaponya type of governance has played in the problems we are experiencing. How come Chile, which also depends on Copper has not ended up with mass mine closures, or the worst performing currency?…
What decision has PF made that has benefited Zambians? All their actions are to allow them more money to steal on road contracts and other projects. They are stung that the mines did not go along with the mugging.
Whether Nanakwi is right or wrong,PF must GO. this is the woest government ever. I can’t add anything more because the reasons are self-explanatory.
@Mpundu please be careful how you think, your life is shaped by your thoughts. Never say anything that is not true, have nothing to do with lies and misleading words. Glencore has closed mines in Australia, Chile, DRC Congo and suspended operations for 18 months in other countries.
@ pio
Thanks mwana. These chaps in UPND are all half baked. They don’t read and in most cases they argue without facts on issues, anyway what do expect when their leader HH is a chief liar? They have been trying very hard to mislead the ignorant Zambians about the reality. Glencore has closed most of its mines in the countries they operate from and this data is all over!
Is it too difficulty for anyone to know that the price metal commodities very low world wide and companies that are not solid are experiencing financial problems? Do the chaps in UPND also know the relationship between the effects of commodity prices and currency performance?
Anyway, as usual, their magician, the “economist” will again lie to the world that he can resolve all global challenges. Its laughable!!
Additionally, I think Chileans produce copper at a much lower cost. In August this year it was reported that CODELCO, Chile (the world’s biggest underground mine) mines copper at $1.40 per pound. The price of copper then was around $2.35 per pound. So I think they are still making money when other miners begin struggling. Just to remind you, this is a state-owned mine.
. . . . . . . “He is handling investments in this country as if he is supervising the sale of tomatoes at the market.”
Iwe chi Nawakwi, you are an invalid leader politically. Your term of FDD office just like your brother Hakaivotela Heka ended some 2 years ago. Instead of addressing your burning issues in your own kantemba, you go prostituting thinking you can grab Zambians like you stole someone’s husband!
You cant compare Chile to Zambia because HH sold all the mines cheaply and pocketed all the money. Chile never did that and that’s why it is the world’s largest producer of copper averaging 5 million metric tonnes, so even if the price of copper is low, it will still gain because of the volumes. Tell the truth is iwe f00lish politician. Why are you silent on the $4m million Carlington Maize scandal? You stole this money when you where Finance Minister and todate Zambians have not received this…
@pio, There are only two markets for copper lol.? beef up your analysis. Highest consumption of copper is this three US, China and Europe. There PMI and economic outlook according to moody rating is slow, so the commodity low price will continue. However for diversified investors, there will still benefit from other sources. Yaba nalasa. Nawaki should ask why Glencore had to ssuspend some of their high cost operations.Once Glencore did that thereshare sslightly improved. Anyway otheranalysts are GGlens berg (CEO ) decision. Will see how this will play out for them.
My iPad is crazy llol . Glens berg is the CEO for Glencore. His decision to save Glencore from going bankruptcy was not welcomed by all.Of course share price picked up but Glencore shares are still low.
Madam Nawakwi is correct in that Mining Investors like stability in Policies. However, if my memory serves me right, she was recently on record calling for mine closures because they do not contribute much to the nation. Confusing politics!
Ghettho Power – kwena uli chi PF iwe. You have guts to speak like chama. I’m in employment I can tell you that our salaries are nothing. Nawakwi is right. There is already a wrangle about the ownership of the Chinese Mine on the copperbelt for the same reason Nawakwi is taking about. They want to give the mines to their friends who helped them in the previous elections. So which things is PF correcting here? They promised us more money in our pockets that is why we put them into face. No excuse otherwise we would not have removed MMD.
It is a known fact that Nawakwi sold the mines at $630 000 000 during privatization in stead of $7 880 000 000 due to her incompetence and today she’s talking like a snake. Nawakwi is the main cause of the many problems the country is facing. What we are facing today is a ripple effect of what she did.
There is no need to call one another names. The troubles regarding mining is Zambia cannot be blamed on politicians alone. ZCCM managements of the pre-privatization era are equally to blame. There was a lot of wastage such as investing in technologies that were unsuitable for Zambian ores in spite of being aware of the inherent limitations of such technologies. We should avoid comparing Chile with Zambia because that is the mistake ZCCM managements of the pre-privatization era made and ended up buying a technology that was unsuitable for Zambian ores. Also I think in Chile government owned mines have for many years been more profitable than private mines. It should be noted that all over the world economies that are dependent on mining are going through a tough period. I would advise…
Mines are being sold in Australia instead of closing because there is still a market for copper. Mines are closing in countries like Zambia where the costs of production makes it unprofitable. PF and the bloated cabinet have been in power for 4 yrs and in that time have taken full advantage of high costs of doing bussiness in Zambia to enrich them selves to the detriment of the countries productivity. Like the over prices road projects they sing about where they are pocketing the difference. In the fuel supply chain in Zambia, PF middle men are robbing drivers while the global fuel prices have reduced, conniving with GRZ the corrupt PF have not passed on the fuel price reductions.
Instead of appreciating that instead of rising, the fuel price has remained static despite the high Kwacha exchange rate. In dollar terms fuel is costing about 60 cents now, very close to the price in the USA. Learn to appreciate at times. We all know the PF is moving Zambia forward and that is why they are likely to win again next year.
John Chinena why did they not pass the global fuel reductions to the consumers when prices were dropping??
Why do so called Zambian economist make noise over things that even laymen understand just for the sake of politics.
Morality is important even in politicks. People like Nawakwi irritate some of us who understand the truth. World over copper mines are either closing or slowing down due to low prices. Let her stick to what she knows, grabbing people’s husbands.
NAWAKWI AT YO AGE YU HAVE FAILED TO GET MARRIED BCOZ OF YO BIG MOUTH. YU FAIL TO KEEP ONE PERSON YU WANT TO KEEP ALL ZED WITH STOLEN MONEY JUST LIKE HYENA HICHILEMA. MULEFWAYAFYE UKUTUSEBANYA MU STATE HOUSE. IMWE KUTI MWALALA NA BODYGUARD NANGU INVESTOR .
Govt should be voted out yes, but here is next question, whomever will come to power , will they solve these problems? I feel there should be move to create something beyond just a new government, a new paradigm in thinking is needed.
Well said, it is a paradigm shift that is required. We first need to be accountable on where we place our vote and secondly we should make the politicians and civil servants in strategic wings of government e.g. Ministry of Mines feel accountable. Do not waste hard-earned national resources taking them to court after they are out power because the damage will have already been done and after all none have been successfully convicted. It is upsetting to see the level of corruption in some of these areas and yet we seem surprised when the economy of the country goes bad. If for example someone tells you they have a solution to the current down-turn cycle of the mining industry, insist that they tell you how they intend to fix the global copper price issue which according to some mineral…
What ever goes up must always come down.
We need politicians who speak the truth! I don’t see why Zambia should keep quiet if she is not benefitting from the mines, it is reminding me of the master slave relationship, Nawakwi is saying that investors should be veneered !!! Even if Zambia is losing! Let them go instead of finishing off the little we are remaining with!
Nawakwi we have bent over to accommodate them. Are you not the one that said you would shut all mines down??