Bloomberg News reports that, Zambia, Africa’s second-biggest copper producer, is close to selling a stake in ZCCM Investments Holdings, a state-controlled mine holding company, for more than $100m, according to three people familiar with the matter.
Sapir Capital, an Israeli private equity company that’s invested in industries from nanotechnology to oil and gas, is waiting for final government approval for the acquisition of the 17.25% stake directly held by the government, said two of the people, who asked not to be identified as the information has not been made public. A minority shareholder group welcomed Sapir’s investment, without giving further detail.
ZCCM, which has minority stakes in the local units of companies including Vedanta Resources, First Quantum Minerals and Glencore, wasn’t immediately able to comment.
Including its direct stake, the government owns 77.5% of the Lusaka-based company, including a 60.28% shareholding through the Industrial Development Corporation of Zambia (IDC), of which President Edgar Lungu is chairman. Lungu’s spokesman wouldn’t immediately comment. The state pension fund also holds 15% of the company with the rest held by minority shareholders.
Zambia tried and failed to sell its direct stake in ZCCM to local investors in 2015. If the deal goes ahead, Sapir will become the biggest shareholder after the government, which will retain its interest through the IDC. The proceeds could help the government narrow its budget deficit as the state seeks an aid package from the International Monetary Fund.
ZCCM’s market capitalisation of about 6.1-billion kwacha ($655m) is significantly less than the value of its assets, according to some minority shareholders.
“The investment of Sapir Capital is a show of confidence in the Zambian economy and the potential we all see in ZCCM,” Philippe Bibard, a spokesman for a minority shareholder group based in France, said in an e-mailed statement on Monday, without providing details of the deal. “We look forward to having a good working relationship with Sapir Capital as a fellow shareholder.”
ZCCM was formed to hold the government’s residual stakes in mines after they were privatised in the 1990s. The industry had been established and developed by Anglo American before its nationalisation in 1971.
Bloomberg
Correct decision
The truth is zambia does not rely on copper anymore.
We are great country that has evolved with time. There is no need to holding on the mines that are offering nothing.
HH privatised them for a reason. They are not needed.
What the country needs is another and continue building Mall, airports, monumental infrastructures such as we are seeing unprecedented I must add.
Thanks
Bb2014,2016
Ba Mutati ati home grown solution… the IMF does not give money like father xmas…
Next is Zesco, next Zamtel next……..
The whole ting has now come full circle… they used to blame HH for privatization
The is no free lunch in Washington …… home grown solution “my foot!”
I have great respect for Israelis.
I think that that is a step in the right direction.
Mr President, I think you are working very well.
This explains why Senior Chief Mweemba of the Tonga people of Southern Province confessed that indeed you are a Hardworking Head of State.
Your work is clear and evident for all to see. Of course some will still criticise, as a matter of performing their self given role of opposition.
It is good to have a president like you. Zambians made the right choice.
May God bless you.
Israelis are hard working upstanding people. I see progress.
Simple economics, your livelihood comes from resources your are blessed with…mines and agriculture is what with have…and we are busy selling these to become workers for our new masters! All these western countries have held on to their assets, if our mines are not profitable why are they hot cakes for foreigners? In ten years Zambia will belong to foreigners and we shall all be tenants…congrats EL…
Mushot HH did not privatise the Mines because he never worked for either the mines or government. Its chiluba , Sata and Valentine chitalu who privatised the mines and got the loot. Ask the people who bought the mines. They will tell you exactly what I am saying.
Lungu has made Zambia ‘s assets become so cheap because of high political risk he has created. If he is not careful even the property prices will crumble very soon like what happened in Zimbabwe.
What senior Mweemba told Lungu is a Tonga parable unfortunately translated directly from Tonga to English to please you f00ls. In Tonga when some one tell you you will be rich after you found him having finished his food just know he is bluffing to calm you down. So you PF f00ls who think Mweemba praised the president better the graduates to interpret the Tonga parables before going to the hills to shout.
PF is broke and desperately wants money to pay the interest rate on the junk bonds it issued earlier and then shared amongst its thugs.
Because Lungu ‘s increased political risk the junk bond holders are going to demand even higher return for their investment.
This sounds like FTJ/ Valentine Chitalu Part 2 These are people I’ll never forgive for privatizing our mines. Zambia has never been the same since ( I mean it’s become many many many times POORER) than before… even simpl things like BOLA yalipwa, Look at roads and hous s in mine townships – ala kuti Waluka!!!!
Its a wrong decision to think of selling your possessions to cushion self inflicted mismanagement of own wealth as all will wash into the drain!
Surely those shares can be sold to rich Zambians
@ Wanzelu,
You are very funny man/woman in the way you think.
How do you interpret English using Tonga mentality? Chief Mweemba used English when talking to the Head of State.
So how can you accuse him of thinking in Tonga while speaking clear sentences in English?
You are imagining things that are not there, just to satisfy your interest.
This is how, in your mind, you ended up seeing Maureen Mwanawasa finding HH’s votes in a bin.
Yet Maureen dinied those allegations and she was not amused with involving her in falsehood.
One wonders how you came up with that visual graphic in your mind, where you visualise Maureen Mwanawasa finding HH’s votes in a bin. And of all things you chose, in your illusion, to imagine a bin – and attach it to Maureen Mwanawasa
@ Wanzelu,
Honestly, in you minds, what was Maureen Mwanawasa’s business with bins? What was she looking for in the bins?
I think your minds were not functioning correctly following the election defeat.
Zambia for sale: ZCCM to the Israelis, ZNBC to the Chinese. ZESCO?
This is a s.tupid decison. They ought to consult the Zambian before they make such decisons. We cant continue giving in to foreigners all the time.
Just in December 2016 ZCCM-IH won a payment of $109 million from KCM london High court.
Today PF00Ls are selling it for $100 million. How dumb is Lungu & his PF00ls? How did they arrive at that figure of selling ZCCM-IH for a song? He thinks it’s like selling off a chawama bottle store
wwwDOTlusakatimesDOTcom/2016/12/19/kcm-ordered-pay-zccm-ih-us103-million-14-days/
Last month it was ZNBC that was sold to Chinese.
This month it’s ZCCM-IH (a profitable company) being sold to Jews.
Mining is NOT for stingy penny-pinchers. Just see how indians are struggling to run KCM mines.
Next will be TAZARA & finally ZESCO.
Guys, is it FAKE NEWS or what?
This is some special kind of stupi_d. This is what they meant by that stupi_d song DUNUNA Reverse, taking us back to the 1990’s blunders.
Lungu is the worst President we’ve ever had.
FREE HH
FREE MWALITETA
FREE ALL POLITICAL PRISONERS
HOW MUCH IS LUNGU’S CUT?
Ati State Visit to Israel, kanshi they r going loot ZCCM-IH. Pompwez
Excerpts from an interview with a Jewish leader about Blacks.
INTERVIEWER: Why are blacks so behind Economically?
JEWISH LEADER: The only aspect blacks understand is Consumption. Blacks don’t understand the importance of building wealth.
The fundamental rule is to keep your money within your racial group. We build Jewish business, hire Jewish, buy Jewish and spend Jewish.
There is nothing wrong with that but it is a basic rule blacks cannot comprehend and follow;
“He kills his fellow blacks daily instead of wanting to see his fellow black do well” 93% of blacks killed in America are by other blacks.
Their leaders steal from their people and send the money back to their colonial master from whom they borrow the same money from.
Every successful black want to spend his…
CONT’D…
Every successful black want to spend his money in the country of his colonial masters.
They go on holiday abroad, buy houses abroad, school abroad etc instead of spending this money in their own country to benefit their people.
Statistics show that the Jew’s money exchanges hands 18 times before leaving his community while for blacks it is probably a maximum of once or even zero.
Only 6% of black money goes back into their community. This is why Jews are at the top and blacks are at the bottom of every ladder of society.
Instead of buying Louis Vuitton, Hermes, expensive cars, shoes, houses, dresses etc, blacks could industralize Africa, build banks and get rid of colonial institutions by putting them out of business.
INTERVIEWER: Your thoughts on failure of…
CONT’D….
INTERVIEWER: Your thoughts on failure of blacks after 150yrs?
JEWISH LEADER: Well, nothing is ever the black man’s fault. His compulsive habit of killing his own, compulsive material consumption.
His inability to build businesses or preserve wealth are usually somebody else’s fault.
INTERVIEWER: So what can blacks do to liberate themselves
JEWISH LEADER: Blacks must take responsibility. Blacks must unite.
And vehemently fight corrupt leaders who run down their country and run to IMF as though IMF is father Christmas
A VERY DUMB DEAL
THE ISRAELIS WILL BRING THEIR OWN NATIONALS TO DE-ZAMBIANISE ZCCM-IH.
WHAT IS THE STRATEGIC REASON FOR THIS?
ZCCM-IH WAS MEANT TO OVERSEE ON BEHALF OF GOVT WHAT AND HOW THE PRIVATISED MINES WERE DOING?
WHAT WILL THE ISRAELIS BE DOING??
Up for sell to the highest bidder. May Be money can be raised to avoid IMF conditions especially on the topics of good governance and reducing spending with eyes closed.
When you have run out of all ideas and need to steal, that’s what you do
@Maloza, what ZCCM-IH won against Vedanta /KCM is actually much more than that. They also won a case against First Quantum. There could be close to $200m coming in from these investments. Money is rolling in and then these PFoools sell a 17.5% stake in ZCCM-IH for peanuts! What monkeys!!!
Why the secrecy until day of announcement.
That’s why they too the trip to Israel in order to plan how the money would be channeled to Cayman Islands, Mauritius, Switzerland.
If lungu made K23-million in 1st year in office, he’s gonna make K23-BILLION this year alone.
Anthony Mukwita needs to write another cadre book Vol.2 The Difficult Rise of Lungu to Wealth: From a Chawama Bottle Store Owner to Dubai Skyscraper Owner.
$100Million I pray this is a hoax
We never learn, this why they were all rushing to that country.. …its possible as Zambian politicans are selfish and corrupt..
Now I know why they are called PF00Ls.
Lets hope they wil not blame HH this time around
I for one would rather have 10 Zambian HHs who invest in the country than crooks like Vedanta Chairman Anil Agrawal who just plunder.
This is why the shameless lazy foools in cabinet all wanted to go to Israel with Lazy to get a cut of this deal…they are auctioning off everything for a song.in Zambia everyone says so and so is rich but why dont they all come together and buy this?
The envy of the PFoools against wealthy Zambians is shocking. That’s why Lungu arranged to trash HH’s home at night. It is all about envy. They cannot understand how a fellow Zambian can make money where they have to steal to keep up their piddling net worth.
This why I envy the Russians they would rather sell their natural resources to fellow Russians for a song and create wealth and keep the wealth in the country and grow.
Mushota Wapangwa shani
Oh yes, ask our sister. She’s always lost in her comments, ever out of touch.
I’ve great confidence in Israel’s investments.Positive History proves what happened to the economy of Zambia when they were in the country. Good way to go.
???????????
It’s a doggie doggie world you have to hang on to what you have got. Looks like someone will benefit from this handsomely. Money to disappear just like the Eurobond did. Welcome to the 3rd world now go Europe or china and buy stake in an influential company and see where they tell you to go. Brain dead
Reminds of when Penza wanted to STEAL Zesco.
PF00Ls don’t even care to hide, they do it in broad daylight. Clearly they are getting kick-backs for selling it next to nothing ZCCM-IH
I have great respect for Israelis.
I think that that is a step in the right direction.
Mr President, I think you are working very well.
This explains why Senior Chief Mweemba of the Tonga people of Southern Province confessed that indeed you are a Hardworking Head of State.
Your work is clear and evident for all to see. Of course some will still criticise, as a matter of performing their self given role of opposition.
It is good to have a president like you. Zambians made the right choice.
May God bless you.
What senior Mweemba told Lungu is a Tonga parable unfortunately translated directly from Tonga to English to please you f00ls. In Tonga when some one tell you you will be rich after you found him having finished his food just know he is bluffing to calm you down. So you PF f00ls who think Mweemba praised the president better the graduates to interpret the Tonga parables before going to the hills to shout.
PF is broke and desperately wants money to pay the interest rate on the junk bonds it issued earlier and then shared amongst its thugs.
Because Lungu ‘s increased political risk the junk bond holders are going to demand even higher return for their investment.
@ 9.1 Wanzelu,
You are very funny man/woman in the way you think.
How do you interpret English using Tonga mentality? Chief Mweemba used English when talking to the Head of State.
So how can you accuse him of thinking in Tonga while speaking clear sentences in English?
You are imagining things that are not there, just to satisfy your interest.
This is how, in your mind, you ended up seeing Maureen Mwanawasa finding HH’s votes in a bin.
Yet Maureen dinied those allegations and she was not amused with involving her in falsehood.
One wonders how you came up with that visual graphic in your mind, where you visualise Maureen Mwanawasa finding HH’s votes in a bin. And of all things you chose, in your illusion, to imagine a bin – and attach it to Maureen Mwanawasa…
Honestly, in you minds, what was Maureen Mwanawasa’s business with bins? What was she looking for in the bins?
I think your minds were not functioning correctly following the election defeat.
@Advice – why change your name you always use when everyone knows who you are!!
@ 9.4 Jay Jay,
You are building a house starting with the roof – no pillars, no support whatsoever.
Your first question (which should have determined whether you have a subsequent question) should have been, “Advice! Did you have a different name before?”.
Now, you just come and say why did you change your name. Who told you I changed my name?
Why ask for a reason before establishing the occurrence of an action?
If you are a sangoma and can tell without being told that there was an action, why don’t you go further and use you sangomic skills to tell the reason for the action (if at all it happened)?
I hate two things in Zambia. One that the nation is not making much progress economically and secondly I hate people who are commenting on Mushota’s comments and dull as she is she will think she is a heroine. These two things I hate.
its a good move. Leave all business in private hands and let government deal with policy.
Of what benefit is KCM or Mopani to the country? Nothing! Visit Kitwe, Mufulira or Chingola & see the poverty the people are going through.
Profits are being externalized to Switzerland by under-invoicing exports. At least ZCCM-IH banked all sales in Zambian banks. Now all the monies including proceeds from electricity sales from maamba thermal power plant will go to Tel-Aviv.
What is there left to sell after HH plundered everything ?
Your arse. Ask Mutati if he can get good price for it
“Zambia tried and failed to sell its direct stake in ZCCM to local investors in 2015.” Who were these Zambians that failed to buy the mines. I am done. kikikiki How are all you missing this?
@Nzelu – These shares were available even an article was here on LT BUT as usual us Zambians are just good at bragging in bars about owning a few buses and trucks, chatting sh*t about tribal and cadre politics …then buying mosi for the whole bar and think you are Donald Trump.
Ekulya ukwima izanda…
ATA SE!! SO IS THIS THE “SERVING NATIONAL INTEREST” that Lungu has been preaching about? What is wrong with holding on to what we have and find a better way to manage it! Contrary to what some of the commentators are saying, ISREALIS CAN BE CROOK SAT TIMES! CHECK THE NON TRANSPARENT WAY THIS TRANSACTION HAS BEEN DONE!! WHEN DID WE HEAR OF THE “IMPENDING SALE OF ZCCM SHARES” Even in recent budget speeches, it has NOT been there!!So MUTATI’s TALK ABOUT “PARASTATALS THAT ARE DRAINING THE TREASURY” MEANS THAT HE HAS ALREADY FOUND BUYERS BEFORE EVEN ATTEMPTING TO TURN THEM AROUND!! WHY DO WE HATE OURSELVES SO MUCH?? Everything good we give others! WHY SHOULD WE INCREASE ELECTRICITY TARIFFS and THEN SELL ZESCO for OTHERS TO BENEFIT FROM HIGH PROFITS?!!
So Lungu’s visit above all else to Israel was also to peddle ZCCM-IH!
Lol, yes!
Meanwhile, PF cadres are there wagging their tails. Zambia is being colonized again by the useless Lungu. He is handing our national companies to Foreigners so that they can continue looting while giving bribes to Lungu and his croonies. Wake up people.
Pf cadres are not like UPND supporters.
Unlike UPND cadres PF cadres don’t have tails. So don’t liken them to what you see when you UPND cadres are around HH.
We couldn’t profitably manage Zambia Airways ,Zamtel was dying and we can’t manage the mines either.What profitable complex venture are we useless Zambians good at or is it just roadside Kantembas?
Today it is reported that Mmembe paid himself a salary of USDollars 100,000 per month tax free plus allowances while he failed to.pay taxes or while his workers were earning K1,000 oer month taxable. We warned underfive HH that associating with the Past news was not helpful for his presidential campaign. He ignored our advice. Does everyone now understand why I call UPND members including HH as donkeys.
So what has Fred Mmembe got to do with the above article…you are typical of example an utterly dull cadre!!
So tomorrow hh is committed to the High Court. Should be an exciting week with donkey comedian lawyers making jokes and preliminary issues court while hh languishes in prison. It seems the only arguments the donkey’s lawyers know is preliminaries, not substantive arguments. We saw this during the election petition.
The government is so cashless that it will selling anything to get hold of cash. $100 million?
Did PF benefit from the sale? These transaction are suspicious. I smell a rat
rats from the same village that ecl comes from?
Hhmm I think can someone please assist me maybe am just dull but the article says the Government owns a state of 77.50%(GRZ), 60.28(IDC), and 15%(Napsa)? These numbers put together according the simple addition I did this amounts to 152.78% of 100%?? This sounds like the results from Lundazi last year?
GRZ owns both IDC which has 60% in ZCCM and State pension fund – Napsa 15% …add the two and GRZ has a total shareholding of about 75%!!
Can we invest that $100m in upgrading the terrible slum area of Misisi? The living conditions there are awful.
Yes, they will single source a Chine company to over charge them then put cheap prefurb housing units from China.
The charter for the IDC was so that ZAMBIAN citizens could become SHAREHOLDERS in state owned enterprises.
By selling shareholding to israel how is that following the path that HE ECL said in 2014 to empower zambians, how many SOE have listed on the lusaka stock exchange as was the directive of HE. If SOE are on the stock exchange then anybody can buy shares in them including foreigners, so again we lose our parastatals and any profits go to shareholders thru dividends. How does this benefit Zambia
That was Old man Sata’s vision not this lazy foool in State house mentored by MMD.
Bloggers google Industrial development corporation you will be interested who the owner is LEGALLY. The Minister of Finance
Why is this site compromised
PF is full of crooks. it is unthikable that the same people who have been falsely accusing HH for selling the mines are now the ones selling the last remaining shares in ZCCM-HI; i think Zambians are f00ls; instead of seling the shares they should have encouraged he Israelis to get more shares from Vendeta.
It is either Lungu partnered with the Israeli firm and is using it as a front for him, or he is insane for selling our asset to foerigners. He is a brain-washed thug with genocide on his corrupt mind.
This is what Kaloba does! You start selling your assets! When the assets are finished, you sell your daughters into prostitution and your sons into the misery of slavery! The last assets to be sold will be the Zambian citizens!
ZCCM-IH has failed to monitor the activities of mining companies despite being a share-holder, it’s dribbled in broad daylight. ECL was recently in the Holy Land, so that trip may be connected to the coming of the Israelis. So Hadolf Hitler and Great Bag of Milile don’t have enough money to buy ZCCM-IH? or are they not just interested in mining. They’re busy paying cadres to cause havoc in the nation why can’t they buy ZCCM-IH? The next we will hear is that Hadolf Hitler holds 90% shares in Sapir! Well, may be these mining mafia might behave with the Israeli watching over them. Cry my beloved country
Why sell a stake in ZCCM?Is it making loses?It looks like this government does not have money and they are quickly plundering our country’s prized assets.What shall we remain with surely?This government is becoming an embarrassment to the nation.People have been there and they have left office and this advice should be taken seriously.Today you are bragging and tomorrow you are a popper and you wish you did things the right way.Why are some African presidents like this.They seem not to see in the future and just to do what is right before God.God cannot be fooled.You will reap what you sow.I know there are people who may not support this but the truth will surely come.Make my words, they will surely pay for this.Just ask ourselves, where is Kambwili?I hope president Lungu won’t be…
Mutati’s Treaury is broke. The illegitimate Lungu govt wants to raise money to finance govt operations. They were hoping for foreign Budget and Balance of Payments Support. Money from IMF and other Multilateral Financial Institutions is not coming given Illegitimate Lungu’s govt Gross Violation of Human Rights, Poor Governance and breakdown of Rule of Law. Lungu lambasted the USA , Western Govts,EU etc for criticizing him over the arrest and imprisoning of HH on trumped up Treason charges. Illegitimate Lungu govt should kiss goodbye to loans and grants from Western Financiers. Instead the Illegitimate Lungu and his inner Circle will be slapped with Economic ,Financial and Travel Sanctions. The Zambian Economy will collapse as result of Sanctions, miguided policies and political…
It’s like PF has a BIG BAG of STUP!D ideas. Every week they dish out one costly STOPET idea.
wwwDOTlusakatimesDOTcom/2016/12/19/kcm-ordered-pay-zccm-ih-us103-million-14-days/
ZCCM-IH won a case where KCM in London High Court to settle around US$103 million as part of the Settlement Agreement entered into in 2013. Today we are being told it’s sold for only $100 million.
I always tell u that MUTATI is a dull Finance minister, you always argue.
WHAT IS OUR WORTH AS ZAMBIANS?
“I spent part of my afternoon interacting with an Indian friend. We were discussing some business ideas and somehow she managed to make me think deeply about our worth as a country.
She asked me rhetorical but fundamentally challenging questions.
1. Which bank in Zambia is owned 100% by Zambians?
2. Which of the big super markets belong to Zambians?
3. Who controls the mines?
4. Who are the largest commercial farmers in Zambia?
6. Who owns the telecommunications companies?
7. Which curriculum do you use in your schools?
8. Do you manufacture any medicines and if you do, do you own those companies?
9. Who is in charge of all the prime land?
10. Do you have a national agenda and if you do, what’s your national agenda?
These were too many…
mungulu blunders being made by PF will take 100 years to rectify.
That’s why they want to kill opposition & declare State of emergency. So that the pipo can’t protest at such silly chopet decisions.
When did they consult Zambians? In February it was ZNBC that was sold to Chinese meaning all our TV licenses, revenue from tower rentals from Multi-choice & Cell-fone companies will be sent to China for the next 25 years.
Today it’s ZCCM-IH, a very profitable organization.
WHAT!!!!!!!!!!!!?
This better not be true
Read the latest figure released by IMF for apri. Just google and follow the prompts
Our gross govt debt in 2021 will be $238 BILLION 2017 GOVERNMENT by end of 2017 GROSS DEBT 145.596 BILLION NETT DEBT 130.121BILLION
OUR CURRENT ACCOUNT BALANCE negative1.164 billion thats now
In 2012 we had current account balance of+ 1.572 million
Silly question but whoever is in government in 2022 how will that debt be repaid. These figures were from IMF today based on january 2017 government figures.. why crap on about pf this upnd that.arsnt we better addressing ways of getting ot the mire rather than get in deeper by more borrowings
Sorry 2012 should read billion not million
Why the secrecy until day of announcement?
That’s why they too the trip to Israel in order to plan how the money would be channeled to Cayman Islands, Mauritius, Switzerland.
If lungu made K23-million in 1st year in office, he’s gonna make K23-BILLION this year alone.
AnthonyMukwita needs to write another cadre book Vol.2 The Difficult Rise of Lungu to Wealth: From a Chawama Bottle Store Owner to Dubai Skyscraper Owner.
CURSE the Day PF was formed!!
CURSE the day lungu was appointed acting president by Sata as he went on his final journey
CURSE the day Lungu moved into state house
CURSE all the PF cadres & sympathizers
Lazy never suffered for anything…he is just a tool for corruption!!
Just goggle :Excerpts from an interview with a Jewish leader about blacks.
Countries like South Africa are busy fighting White Monopoly Capital which has exploited them for centuries yet just 2hrs flight to Lusaka we have a group of id1ots fighting to do the opposite. (I am sorry to use such language, but I can’t help it)
Why sell a profitable company? PF & lungu are a disgrace to the struggle economic emancipation of black people.
VOTE WISELY next time. Not because of tribe, because of a song or because you have road tenders. Country before Stomach, not the other way round.
Zambians?are getting all they deserve, I hope pf supporters suffer more than anyone. Those corrupt pf leader need to go to hell and burn for the rest of their worthless lives.
Building Malls will never add any meaning economic change to Zambia. What Zambia needs right now is a solid economic self reliance which can and will only be triggered by value addition through the manufacturing sector. We have been exporting raw materials for a long time no wonder we still have citizens living below the poverty datum line at 54%. Raw materials are processed and sold back to us at x3 the amount realized from exported materials. Three quarters of products found in Malls are foreign manufactured. Zambia needs a paradigm shift in its economic dealings. A maid in Botswana can afford to buy and drive a Toyota Hilux or a Ford Ranger. A maid in Zambia cannot even afford to buy a bicycle. This is a reality.