The Zambia National Students Union has petitioned President Edgar Lungu to consider invoking the provision of Section 2 of the Inquiries Act, Chapter 41 of the Laws of Zambia to set up a Commission of Inquiry into the alleged plunder of national assets that occurred under the guise of privatization policy.
State House recently called for a public and judge-led inquiry into the privatization of companies where an opposition politician has been named.
ZANASU President Misheck Kakonde says it is clear that State assets worth billions of dollars were deliberately sold by those tasked to do so at paltry and give away prices.
Mr. Kakonde has noted that each time the country heads towards general elections, allegations of wrong-doing in the privatization process keeps coming up and the public generally make decisions based on this kind of talk and the time has finally come to settle this matter.
He said it is also without dispute, that those tasked with the technical process of disposing these assets, may have used the process to benefit themselves immensely and deliberately under-valued the state assets for their own nefarious and criminal reasons.
Mr. Kakonde said Zambia’s biggest plunder of national assets done under the guise of Cabinet-approved privatization policy.
“For example, the total purchase price of the 218 companies in the not including ZCCM assets was K18.4 billion, converted to $154.6 million dollars for companies that were worth in excess of $5 billion. ZIMCO and INDECO appeared on the Forbes 500 listing of multinational companies worth billions of dollars. For example, KCM, valued at $650 million by international firms hired by the World Bank, was sold for $25 million. Hotel Intercontinental Mosi-o-Tunya valued at $20 million was sold for $5 million”, He said.
Mr. Kakonde said of the 218 companies sold by the ZPA using among methods of public offering of shares, private sale via negotiated and competitive bids, dilution of government holding, sale of assets, re-organization of State-owned enterprises before sale of whole or part, management/employee buyout, lease and management contracts and any other method the agency considered.
“It is clear that the value of state enterprise assets was reduced. Many companies closed shortly after being sold, and for those that are operating today were profitable and lucrative entities that could have survived without privatization. In the aftermath of privatization, jobs were lost, poverty jumped significantly and formal jobs have never recovered from their peak in the 80s and 90s. The scale of injustice, theft, fraud and plunder of national resources done under this policy requires review especially that the debate to privatise or float on the stock exchange the remaining assets is being considered”, Mr. Kakonde added.
He said it is for this reason that to avoid the country making similar costly mistakes, and to bring to book the plunderers and looters that used the process to outrightly defraud Zambians of the value of their assets, a Commission of Inquiry be set up to help close this Chapter.
Mr. Kakonde said the Commission of inquiry must not be deemed as a witch-hunt of anyone involved but that those who were involved in the process will take the opportunity such an inquiry offers to say their part in public but also expose the wrong-doing of their accusers, if any, by making their evidence public. Perhaps more importantly, a public inquiry exposes the barrenness of any allegations and settle the matter once and for all.
State House spokesperson Amos Chanda called for a public and judge-led inquiry into the privatization of companies where leading opposition leader Hakainde Hichilema has been repeatedly named to have been at the centre of the privatization program that saw the cheap sale of state owned assets.
I think this chap must be flanking in University. You think the late Levy or even late MCS would not have brought HH to book if there was any wrong doing. Lungu should focus on the debt and economic situation and not waste time on things that happened 20+ years ago. If Lungu was part of it, why did not question back then since he had insight on what was happening. Why question now? Why did he not question this when he was a minister?
Yes true… An inquiry is welcome. But be warned that even the people you call Angels now will be exposed. All politicians in the MMD and most directors and top government officials from MMD and PF will be implicated. This is the can of worms worth opening to clean up the Zambian political arena. But is ECL worth the task?
HH need to resign from politics because he is the one who’s associated with privatisation in politics. The moment hh is going to quit is when this subject will forever disappear.
– Lungu drunk all the money he was paid for privatizing Zambia Cold storage.
– HH invested his paycheck in cattle to become the largest supplier to Zambeef.
By 2011 Lungu was a destitute, residing in a garage of former MMD deputy transport Minister. That’s how he convinced to try his luck in politics coz his practicing license had been cancelled by LAZ for stealing from a widow.
His wife (mother to Tasila) had left him for a white man. Tasila had even changed her surname to Whitehead.
Today ati Nyo-Nyo-Nyo let’s investigate how HH got his wealth.
This aint about HH or ECL and surprised cadres just conclude so. Is HH guilty of personally benefiting from privatisation for you guys to be worried. Lets HH accusers bring evidences to HH can clear his name. You guys re damn worried to want to stop public inquiry over a matter that will continue to haunt HH during elections. Lungu must set up inquiry
@Maloza-2011 ECL was mp for Chawama and appointed PS in the VPs office. How was he destitute?? Nasheniko fwaka ba upnd!!
First things first, let the nation investigate how the 42 trucks cost 42 million instead of going on wild goose chase on the things that happened 20 years ago
This is a classical case of “Be careful what you wish for, as it may just be granted you” …
Lungu sold cold storage board of Zambia to foringners who stripped all the equipment and shipped it out of the country , how did lungu sell this once might company that supported whole communities in Lusaka ????
Check lungus financial records st the time of that you will find it was paid 10s of thousands of $ by those foringners to under value the comany
Imwe lungu is desperate, even ZDA in their report mentioned more jobs created in 2017 than in 2018, now the mines are soon cutting Some more….that tax PF have levied on the mines for which there are threatened job cuts , PF have already spent that money……all this even before we start paying back money borrowed…
Lungu , when is the repayment on euros due ???
@zambian citizen, yes his luck changed after 2011 elections after PF/MCS won.
Before that, he was destitute.
Today Lungu is one of the wealthiest zambia, all from stolen money & Chinese bribes.
Resist temptation to celebrate/congratulate thieves who steal from you & your children & grand-kids. 50 years from now, your grandkids will still be repaying Chinese loans which facilitated Lungu’s wealth.
@Maloza-unless you are a brainwashed hh glorifier, that is when you can believe your kachasu stories. ECL was a lawyer before he became president with clients like MCS, Fred Mmembe etc. He had acquired pieces of land and had houses to live in. Yours is the hh strategy of making ECL look like he was a helpless drunk and that hh is a better person. Sadly Zambians have never bought into your half witted rhetoric and have perpetually rejected your f.0.0.l.ish hh since 2006. Now ECL will show Zambians who hh really is!!
YOUR ARE TWIT, GO AND ASK THOSE WHO WERE INCHARGE. YOU KNOW WHERE THEIR GRAVES ARE. YOU WANT TO CREAT JOBS FOR YOUR FRIENDS AS FAKE COMMISSIONS. YOU FAIL TO FUND STUDENTS AND CREATE JOBS, NOW YOU HAVE MONEY TO CHASE THE PRIVATISATION GHOST.
@ zambian citizen
wwwDOTzambiawatchdogDOTcom/lungu-was-a-poor-beggar-living-in-a-garage-before-being-minister-kambwili/
I rest my case. Stop celebrating & congratulating criminality as if Lungu gave you a single cent.
If you come to me and I give you advice that your asset is worth K3million kwacha. Then you decide to sell it at K1million . Whose is at fault here? Who has undervalued your asset?
HH to date says he valued assets accordingly but it was the MMD government which decided to sell the assets for a song and then shared the money.
Any way valuation records done by HH on behalf of Grant Thornton are there in their achieves to show the true value of assets. Then ministry of finance records are also there to show how much government assets were sold at
Now is not the time to waste time on by gones but to demand an inquiry into how the Euro bonds were used and how the over $25 billion Chinese loans were obtained by Lungu. We need also know the terms and fiscal collateral staked to…
This student lacks common sense, once this commission of inquiry is formed let him not rush to the streets once his meal allowance is not paid to him .
I think this is a distraction from the corruption scandals of PF and Lungu.
The one who values assets does not agree the sale price with the buyer. But the sale negotiator does. So between HH and Lungu it’s Lungu who agreed the sale price and signed on behalf of government how much those assets were to be sold.
So Lungu and ZPA are the ones who sold assets at a discount.
This useless student union leader should concentrate on fighting for student allowances to be paid on time not asking for inquiry which will just cost more money for nothing.
The negotiator seals the sale deal but the asset valuer does not. So Lungu sold the government assets.
Instead of wanting to see the Vespers report into what led to death of fellow student and serious injury to another and making recommedations on the rules of engagement with Police they are being used by politicians.
Let’s allow this privatization issue be dealt with in public once & for all. Personally, I think a court case would be cheaper & fast, but the court case might only focus on a few. A commission is better because anyone with information can use this platform to expose with evidence. So to put this matter to rest let’s do this
There you go!! A person who uses Zambian witchdoctor as a reliable source of information then you need to checked in your head. It’s sad that even educated people fall for the cow dung witchdoctor produces. I prefer to get info from real people who know these politicians. Its half witted rhetoric brewed by upnd.
MODE
Every sane Zambian has a reason to worry about the legitimacy and truthfulness of the inquiry because the rotten justice system under PF is just good at targetsing the innocent while setting the culprits free.
Lungu has failed to institute a commission of inquiry to investigate corruption under his leadership. How can he be tusted to investigate the process that happened decades ago.
All Zambian judges are compromised. We need an international panel of judges to handle this inquiry if it is to pass the credibility test. Only then shall we believe the outcome to be honest and fair.
We want to how much Zambia has borrowed under Lungu and how the money has been used.
An inquiry is welcome. But be warned that even the people you call Angels now will be exposed. All politicians in the MMD and most directors and top government officials from MMD and PF will be implicated. This is the can of worms worth opening to clean up the Zambian political arena. But is ECL worth the task? There should be a standard rule: All those found wanting should resign (if in government) and face the law.
THE PRIVATISATION ACT CHAPTER 386 OF THE LAWS OF ZAMBIA
Oath of Secrecy
15. (1) The employees of the Agency, consultants, members of the Agency and members of a committee of the Agency shall take an oath of secrecy as prescribed under this Act.
(2) Any person who contravenes the provisions of subsection (1) shall be guilty of an offence and shall be liable upon conviction to a fine not exceeding twenty thousand penalty units or to a term of imprisonment for a period not exceeding two years, or to both. (As amended by Act No. 9 of 1996)
Prohibition of publication or disclosure of information by unauthorised persons
16. (1) No person shall, without the consent in writing given by, or on behalf of, the Agency, publish or disclose to any person, otherwise than in the course of his…
…duties, the contents of any documents, communication or information, which relates to, and which has come to his knowledge in the course of his duties under this Act.
(2) Any person who knowingly contravenes the provisions of subsection (1) shall be guilty of an offence and shall be liable upon conviction to a fine not exceeding four thousand penalty units or to a term of imprisonment not exceeding five years, or to both.
(3) If any person having information which to his knowledge has been published or disclosed in contravention of subsection (1) unlawfully publishes or communicates any such information to any person he shall be guilty of an offence and shall be liable upon conviction to a fine not exceeding four thousand penalty units or to a term of imprisonment not exceeding…
…four thousand penalty units or to a term of imprisonment not exceeding five years, or to both. (As amended by Act No. 13 of 1994)
The above is why HH is silent about Privatisation. He is Law abiding and keeping his oath.
How can a consultant working for a hired firm be at the CENTRE of privatisation?
Mama, as a Consultant are you not required to declare interest?We are talking about Business ethics here.What happened to article 25 of this same PRIVATISATION ACT which seem to contracdict itself?
Buying and selling of assets don’t start and end with one person. For one to buy a government asset lines of documents and approvals need to be made by directors, PS, ministers, Negotiators, liquidators, etc. Unless you tell me that all these could not see the wrong. Remember, evaluation is the first phase. After it is done and the process has ended, then the disposing of assets begin. How do you know the consultant did not declare interest and the seller saw no conflict?
Truth be told,the whole process was flawed.The PRIVATISATION ACT is a fraud in itself.No wonder the MMD under Mwanawasa directed Geoge Kunda to draft and enact the PUBLIC FINANCE ACT of 2004, which inter alia,empowers the Secretary of the Treasury (ST) to receive information, set conditions for providing grants, oversee valuation of assets, ensure efficient management, protect the interest of the government during privatization, and oversee the winding up of statutory corporations. It requires statutory corporations to have audit committees. This though came too late.The Mwanawasa govt saw how fraudulent the PRIVATISATION ACT was and did little to proctect the interest of Zambia but those involved in privatisation process.
Many of you don’t know that HH bought 20 Centre Pivots, worth $600,000.00 dollars, as scrap and paid $20.00 for all of them. That is one dollar per centre pivot.
Even if we are desperate for change, Is this the man we can entrust leadership with?
Please go ahead and open a commission of enquiry so that we can finish the Satanist once and for all.
We grew up with him and we know what he had before privatization.
Lungu sold cold storage board of Zambia to foringners who stripped all the equipment and shipped it out of the country , how much did lungu sell this once might company that supported whole communities in Lusaka for ????
Check lungus financial records at the time of that sale you will find he was paid 10s of thousands of $ by those foringners to under value the comany, but he drank all of it….
(HH) needs to come clean. It is clear he manipulated the process of Privatization and made a fortune for himself. Then he took the illegal earnings abroad to Panama. Let the inquiry find him out.
@Spaka and other resident UPND rats on LT, you were asking for me yesterday and the day before. @Kudos where are you, where are you? Come and answer for Kembe Cold Storage.
I had better things to do than be on LT with your rats. All those lonely, vengeful, vindictive, wicked UPND parrots like Gay Jay had no family love to surround them at Christmas, they were just on LT as usual spewing hate for our duly elected PF government and President. Now anyone can guess what Gay Jay was doing after blogging. Screwing his right hand. The chap is 50+ years old with no social skills. Wasting time in the UK with tax-payer funded internet.
Get some love UPND rats. Show the ordinary Zambian some love maybe they can consider Akainde. But then again Kainde is a Privatization thief. The dead miners are…
…his curse now they are haunting him and Mutinta. What him and Mutinta have is the same as Satamic money. It doesn’t last. Such fake wealth is conceived from the blood of innocent souls. (HH) has soiled hands from the blood of miners who were retrenched early without a future. They died prematurely in the early 2000’s because of (HH). Kainde took the miners to their grave and has never apologized for r*a*ping the country of its State assets. Never shed a single tear for their souls.
He’s an economic serial r*a*p*i*s*t and now he wants to r*a*p*e the remaining Zambians through “People power” and civil strife. (HH) is an Outlandish Union Leader. He is an OUL like the evil bird Owl. (HH) your days of Satamism are coming to an end and your day of reckoning is imminent.
By Percy Chanda
BEMBAS WILL SUE MR LUNGU ONCE HE LEAVES OFFICE FOR IRREPARABLE DAMAGES FOR CALLING THEM THIEVES
Bembas will forever be stigmatized, traumatized and shunned by society as our reputation has been dented by Mr. Lungu for branding us as thieves and will therefore seek redress from the Courts once he leaves office and his immunity lifted…
…No employer in the World can risk employing any known criminal, especially if it involves dishonest behavior such as stealing. Mr. Lungu has placed all Bembas at places of work at high risk and will suffer consequences soon.
GUY SCOTT’S LABELING OF GIVEN LUBINDA AS A DOG WITH A BONE WAS AN INSULT TO THE PEOPLE OF KABWATA, HIS FAMILY AND CLAN – HH
UPND president Hakainde Hichilema has accused Vice President Guy Scott of practicing vulgar politics, replete with bullying Hichilema said that Dr. Scott ‘s only descriptions for other people were derogatory names to disrespect them.
In an interview, Hichilema said that Dr. Scott’s likening of Patriotic Front Kabwata Member of Parliament Given Lubinda to a dog with a bone was an insult to the people of Kabwata, to his family and clan.
GUY SCOTT’S LABELING OF GIVEN LUBINDA AS A D0G WITH A BONE WAS AN INSULT TO THE PEOPLE OF KABWATA, HIS FAMILY AND CLAN – HH
UPND president Hakainde Hichilema has accused Vice President Guy Scott of practicing vulgar politics, replete with bullying Hichilema said that Dr. Scott ‘s only descriptions for other people were derogatory names to disrespect them.
In an interview, Hichilema said that Dr. Scott’s likening of Patriotic Front Kabwata Member of Parliament Given Lubinda to a D0G with a bone was an insult to the people of Kabwata, to his family and clan.
So useless LT.
Lungu sold cold storage board of Zambia to foringners who stripped all the equipment and shipped it out of the country , how much did lungu sell this once might company that supported whole communities in Lusaka for ????
Check lungus financial records at the time of that sale you will find he was paid 10s of thousands of $ by those foringners to under value the comany, but he drank all of it….
Lungu has to come clean where he took the proceeds for Zambia cold storage, I am sure the moron drunk the money while his friend invested, PF cadres are just plain dull you can’t deal with such low lifes
I don’t mind knowing the truth. The first step is to release the reports of all the inquiries that have taken place so far, otherwise why should the outcome of this one be any different from the other inquiries whose reports were never released? In fact we should start with an inquiry into all pending inquires. Our money was spent on these inquiries for nothing. Why continue spending money on inquires that don’t produce results?
PRIVATIZATION WAS A LEGAL PROCESS AND IT WAS HIGHLY DEBATED BEFORE IT WAS IMPLEMENTED….I WAS THERE THAT’S WHY I KNOW..IT WAS DIFFICULT TO FIND A RELIABLE EXAMPLE OF A SUCCESSFUL PRIVATIZATION PROGRAM IN THE WORLD…MEXICO WAS CLOSE BUT NOT RELIABLE….ONE DEPUTY MINISTER WAS FIRED BY CHILUBA FOR STRONGLY SUGGESTING THAT ZCCM BE SOLD AS ONE UNIT…..
But now have come to believe that zambia can never change. So the fire tender will be investigated aftee 40 years. Why is it that African rulers mostly want to be in power more than the actual term.
This inquiry is long overdue and will help settle matter to rest. HH has been accused for too long to disadvantage him and so UPND should see this as window of opportunity to clear his name.
They’re dead scared that (HH) will be exposed. He claimed to have taken pockets of cement to build a brothel in Kalingalinga using BC allowances. But can a brothel raise you $7 million dollars?
Kudos,
Lungu sold cold storage board of Zambia to foringners….at a greatly reduced price and was bribed.
I saw a,statement by lawyer Gilbert phiri on the inquiry. Why is Gibert Phiri, Hakainde’s lawyer so epil.eptic about a judicial inquiry that names no one this far?
What’s wrong with calling Clifford Chance and foreign advisors he says participated in the process?
Why single out Francis Kaunda who chaired only the Zccm part? What about the other more than 289 companies sold mainly by some who may or may not be his (Gilbert)’s clients today;
What is w.rong with calling anyone whether they are ministers today or not; whether someone is d.ead or not what’s w.rong with debating what they or May not have sold?
Why is Gilbert conveniently ignoring the fact that this debate was started and promoted on all Upnd blogs and their official media, ostensibly to m.align ECL for his role as…
…negotiating chairman for the Lusaka branch of Keembe cold storage?
Why has this debate now turned too hot to handle?
Why name HH when the state House statement did not name anyone other than ECL?
Who will answer questions directed to Chiluba, Mwanawasa and Sata since all of them served in the government that initiated and implemented the privatization program? Zambia has time and resources to waste!
Those around will answer on their behalf, if needs be…but that should not be an excuse…if any company was irregularly sold, it must be repossessed by Government.
Lawyers like Sakwiba Sikota, Elias Chipimo and many others including UNZA Dons participated as negotiating Chairmen and nothing is wrong with that.
HH must openly admit which companies and how many he sold and to who as ECL has done;
If Francis Kaunda to whom HH reported on the sale of companies was convicted, what about those who actually executed the sale; who are they and what did they sell?
What was Francis Kaunda convicted of?He sold only ZCCM assets which was one company? Who sold the other 289 companies?
ECL chaired negotiations for one company; how many did HH chair?
Reply
23 flag Chipimo Senior December 19, 2018 at 3:27 pm
My son has nothing but a borrowed accent to offer. He has never been the same after participating in privatization of national assets. Infact the only thing my son and HH share in common is privatization.
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Mr. Clarence- HH was not a public servant, Francis Kaunda was. Francis Kaunda received money secretly apart from his own emoluments. When this Francis Kaunda was asked to participate in an interview he said “how much will you pay me?….first pay me then I talk…”
ZANASU President Misheck Kakonde says ‘it is clear that State assets worth billions of dollars were deliberately sold by those tasked to do so at paltry and give away prices.’ Clearly This Misheck Kakonde is a very dull man.
The value of these state owned enterprises was highly inflated because the KK govt heavily subsidized state owned enterprises from its revenue to ensure that enterprises kept running and that employees kept their jobs. Govt would borrow money (foreign and domestically but mostly foreign esp from the World Bank and IMF) against the more profitable companies to invest in the enterprises that were performing poorly, It’s why the debt in the 2nd and 3rd Republic increased 10 fold. Ever asked yourselves why there was no longer money for public expenditure,…
cont’d
public expenditure, infrastructure development, esp. in the 3rd republic?
In KKs era the badly performing enterprises were not paying any taxes e.g Zambia Airways, Lusaka and Ndola International Airports. ZISC, ZAMTEL etc were some of the only companies that kept making profits, and were so heavily milked that it is still felt to this day.
The only way for govt to have bailed these enterprises was through either privatization or liberalization. Unfortunately or fortunately I don’t know which is which, the MMD govt started with PRIVATIZATION, the liberalization laws (correct me if I’m wrong) they enacted could do much since the economy was already on life support. Maybe it would be an entirely different story had they waited 5 years for investors to come, but then the new…
cont’d
but then the new govt needed money to run.
What’s funny is nobody ever talks about the negativity that the nationalisation brought to this country under KK.
Whoever advised the ‘Father’ of the Nation to nationalise companies after independence must be charged with economic treason to Zambia even posthumously.The cost of nationalisation together with its sister policy of Import Substitution Industialisation is what crippled our economy in the second republic and ever since have never recovered even with HIPC forgiveness.
Ba sharpshooter, a semblance of recovery happened under Levy until you guys thought it was a good idea to hand over power to the clueless PF with their 90 day promises.
Dudelove
I must agree with you that after the HIPC completion point,debt relief really made economic wonders for Zambia until the 90 days promises swept the political scene.The 90 days promises has been Zambia’s biggest scandal ever.
When people are bored, lazy, when they lack wisdom this is then result. Let us build this country let us unite but as long as we are focused on foolish issues that won’t bring productive we are doomed. It hurts me to see whats happening in this country the levels of foolish is sky high. oh Lord these gods (politicians) of society are drunk with power they have no clue with what to do with it.
Let the inquiry begin. The quite ones should pay back why should we suffer. That is why you will never rule this country because of the suffering you have caused the people of Zambia. HH never you have benefited a lot wht do you need again
Lungu has made all burdens public and privatized gains to a few of his co-criminals.
It worries me when students can speak finance without understanding numbers. My take is that they are being used as a tool. The value of a business is best measured by its net assets value (NAV), in other words, this is total assets at fair value less total liabilities at cost as per International Financial Reporting Standards (IFRS). Zambian companies that were privatized were undercapitalized in that the fixed assets could not increase revenue as mining had to evolve. KK overemployed and the expense to revenue ration grew well over 100% ie they were loss making. Coupled with debts, unfunded pension liabilities, unpaid international taxes. Zambia was desperate for IMF and World Bank funding, as the law says “consideration (Payment) needs be adequate but not sufficient.” This means the…
@ St. Sweeet Angus, Thank you for pointing this out. Some people don’t know that what was actually privatized were assets, in other words it was more of selling the assets than privatization.
My conclusion is that this is a diversion, privatization is happening right now. FTJ, for all his failings, was honest enough to inform the country what was going on. What we see here is private privatization of a systematic nature. ZESCO has been sold in effect, you wonder why they keep increasing energy prices. ZAFFICO has been sold (the listing will have NAPSA buy 15% and a Chinese company buy the rest and keep control). ZNBC has been sold save for the news unit. More assets are being sold. You will watch and wait. Mark my words- the incumbent will be the first former head of state to serve a prison sentence. And do not think HH has forgotten his jail time.
Very good!!!WE REALLY NEED THIS INQUIRY ABOUT PRIVATIZATION!!!HH cant get so rich and go away free just like that after selling Govnt assets for a song!!!THIS ISSUE IS NOW GAINING MOMENTUM-WONDERFUL!!!Kainde azalila soon!!!Bembas say “UMULANDU TAUBOLA”.So lets forget about the time when Governt firms were sold and do the right things so that these politicians can learn a big lesson.Whoever will be found wanting should be jailed at Mukobeko and throw away keys into Indian ocean!!!
BRAVO STUDENT UNIONS AND WE HOPE A TONGA UNZASU PRESIDENT WILL JOIN YOU SOON LIKE DR.HABAAZOKA DID!!
If Lungu did not change his mind and start eyeing a 3rd term, he would have made sound decisions and not political decisions. In 2016, after winning 5 years of what was to be his last term, Lungu had an opportunity that Levy or Michael never got- a chance at a second term where you can cement a legacy and do well for your people. He missed this immediately he started eyeing a 3rd term. For me, when I see what the country is going through, I see a very sad scenario. I saw a woman just the other day with a packet of medicine running after me crying “my son, I don’t have money to buy the rest but am in pain.” People are suffering. Zambians have been taken on a Eurobond ride. We will pay this money back when both HH and Lungu are long gone. Youths, we should rise up and take our country…
Blaming privatization which took place 20 years ago for the failed economy, how did the previous Govts manage to subsidies fuel, agricultural inputs , electricity and they did all this without contracting so much debt
HH must return those companies he sold to his cronies and later became major shareholder…then we’ll forgive him…otherwise jail is beckoning. He must ask Mikhail Khordovosky who became Russia’s wealthiest man after privatisation in the 1990s.
HH should return KCM, Mopani? Are you sober? HH was an agent. It is your government that sold these companies. Do you even understand the basics of a transaction? HH did not become the wealthiest man after privatization. You only knew of HH in 2006. The wealthiest man after privatization of Chiluba. You should be asking what your government did with the $1bn that it obtained from privatization. What is even more important, why are you unconcerned with the secret privatization currently underway? ZESCO, ZAFFICO, ZNBC, et al.
Wow, dude you are dull mune, not an insult coz your reasoning is beyond !d!otic.
back. Maybe it is our children who will pay this money back. Zambians are currently paying taxes as follows: 16% VAT, 35% PAYE, 10% rentals, road tax etc. This is beyond normal, this is extortion. This is treason at the highest. Zambia cannot even move forward. The country is run by tenderpreneurs who produce nothing but increase the value of tenders. See the fire trucks, see the ambulances, see the petroleum prices. What more will you have to see before you say it is enough? Will your tribe blind your chance at change, real change? Be true to yourself and seek a better path.
The criminals are at it again trying to divert attention of Zambians! Before you start talking about privatisation that happened 20 years ago let’s start with the current. Let’s remove the spake in your eye before we look for the log in other people’s (some of whom have died a long time ago):
1. Our current politicians in government have suddenly become very wealthy, are they able to show us how they acquired the wealth?
2. People have been asking for accountability with fire tenders, ambulances, toll gates, etc, can we recover the money stolen in that respect first?,
3. The Auditor General’s report is still haunting these same people making the noise, can they account first, please?
4. Before starting another meaningless , and wasteful enquiry, can you show us the seriousness…
That is a person who is thinking. Tell them. What about the current secret privatization?
Kudos can answer those…..Kudos you have regrouped from statehouse ??
Those are paid hungry bastards and failures from UNZA making that noise.
All this is only to divert attention from the impending job cuts on the mines , PF and lungu have failed after spending $17 billion , even before principle amounts are paid the economy has tanked….that is why lungu who has amassed a reported $60 million , personal money is desperate.
Fellow Zambians don’t side tracked like children by children like this student! Do not personalise matters. Privatisation was overseen by the govt of FJT, reviewed by the govt of LPM. Now, after Banda’ and Sata’ govts, the matter is suddenly s hot topic? Open your eyes people and focus on the challenges our country is facing right now: Job losses, corruption in procurement and contracts adjudication, debt accumulation, uncontrolled expenditure etc. The best our students union can do is trumpet their pay masters narrative against an individual?
@sweet unus you can’t defend what you did not start, let the privatization issue be put to its conclusive end so that there will be no more finger pointing.
Effects of the that old privatization continue to ravage people ‘ s lives to date ,as such burying our heads in the sand about it is sheer waste of time. That said , we are not oblivious of the recent and current developments in the way present regime is handling public asset procurement .Many of us feel that there have been a care free attitude towards public resources expenditures . The cost at which some of the contracts and machinery have been acquired in the recent past is prohibitively high. These too must be subjected to scrutiny. Even though , let it not be an exercise settling old scores or perpetuating personal vendettas. It should sorely be about integrity building in public service.
I support this call by students. Let’s put this matter to a closure. Its time. Appears HH supporters are too scared instead of happy that this will help him clear his name
The decision to sale was made by government. The firm that HH worked for was hired to oversee the privatisation process. In the same way the company that employed Lungu was appointed to oversee the sale of the cold storage.
Ati if he stole why was he not arrested
There’s time for everything
Dont say it’s political
We start with freezing Panama account
Accusations and counter accusations on privatisation of national assets will not do us anything. Let’s repeal what ever legal issues that can inhibit our resolve for the formation of the commission of inquiry on the issue and thereafter go ahead with the inquiry, period.
Mr. Francis Kaunda was charged only on one (1) single transaction involving Ndola Trust School, a non-core asset. Therefore a Tribunal can exclude that one issued, it having already been settled by the courts of law. He can be made answerable on any other issue concerning the mines, including other non-core assets which have not been the subject of judicial inquiry.
I wonder why we are ascribing political motives to a proposed “judge-led inquiry”? What are we afraid of?
When it came to the privatization exercise, government formed an agency called the Zambia Privatisation Agency (ZPA) and Valentine Chitalu was the Chief Executive Officer at the ZPA who is also one of the directors at Tiyende Consortium and shareholders of Bradford and Menel limited.
So this is how it was done!
Mr Valentine Chitalu immediately awarded the financial and audit consultancy contracts to Hichilema’s companies, Grant Thornton by then Mr Dipak Patel was Commerce Minister who Mr Chitalu was answering to… are you thinking what we are thinking, YES it was a well arranged exercise.
In one of the famous transaction, the team profited from was Mosi-o-Tunya Hotel that was valued at $20million but remember, the Hotel was sold to Sun International of South Africa for $5 million and check revealed that Sun International Zambia Limited lists Hichilema as a director together with others like Hawkins Richard Ceaser, Mokhobo Ramakhatela David, Munokaya Sikola III Mukuni XIX and Selby Joanne Elizabeth with shareholders, Selby Joanne Elizabeth, Sun International and Chief Mukuni.
At the time, the Hotel was valued at that amount it undervalued the assets of Hotel Mosi o Tunya, the adjacent property- Rainbow Lodge and the Game Park were also added to the package at $6.5 million with the Hotel.
With evidence Hichilema sold an enviable public asset worth $24.5million for a…
A look at lungus accounts when he sold cold storage board of Zambia to foringners will find lungu recived 10s of thousands of dollars of unexplained monies from the foringners who bought cold storage board of Zambia.
Yes. No wonder drives a limo while his subjects survive on mangoes
He must go in also
This is what failed regimes do…..find excuses for their failure to run the economy….$17 billion in debt , with impending job loses on the mines they now need to deflect attention of the suffering masses……we saw this with Mugabe, after he was failing the economy he pounced on white farms to deflect public attention with disastrous consequences …..to date before the west helps munangagwa , zim has to compensate $46 billion to the white farmers…
The same will happen in Zambia. All the people Lungu procecutes to hide his failing the economy will get compensated
CASUAL OBSERVATIONS:
I salute Madam Thuli Madonsela, former South African Public Protector, for having recommended the establishment of the Commission of Inquiry on State Capture in South Africa. The revelations unfolding at the Zondo Commission of Inquiry on State Capture is “SCARING” many Zambian politicians and business men and women beyond their spines deep into their bones. The phenomenon of state capture and plunder of resources was rampant at the onset of multi-party system soon after the era of President Kaunda.This invites a reflection on the logic for the disbanding of SITES by the Chiluba Government.
Students send Hichilema and his supporters into panic mode. Back to digging up figures. I just love this modern ZANASU. doesn’t fear Luo and doesn’t fear opposition. Speaking straight
Shouldn’t you be petitioning Lungu to pay your meal allowances that this silly war from decades ago. A clear case of misplaced energies and warped priorities.
Zambians are fools. Zampost haven’t paid workers for five months. When it’s privatalised and start making money to pay salaries people will start saying who privatised zampost
Ithink this is all about deviating attention from their agenda of “ ukulya mwibala” to attacking innocent politicians.Leave HH alone and concentrate on lifting the stands of living for the people of Zambia.You have stolen the money and you will be answerable when new government comes into power.To be frank ,PF you have lost popularity and you will be lucky if you will win next election.We wasted time supporting ka Lungu ,aka muntu ka chabechabe fye ,kaisovela fye ifyakwe.No wonder he said Ulya mwibala alya mwibala encouraging stealing..”Ba PF balefwaya ukupomba HH amala yambushi mumu koshi ati ewalille imbushi” This saying is what exactly the PF are thinking of doing.It won’t happen as we know what you are aiming at.I supported PF the last elections but Ihave since lost faith in them as…
but Ihave since lost faith in them as they have no heart for zambians .They are only interested in tips and fattening their pockets.Most Zambians are more poor than they were before PF came into power.They keep on talking about developments ,The shopping malls? where majority of Zambians can’t go and shop and only foreigners go into those shops.May god bless mother Zambia