Thursday, June 13, 2024

KCM Liquidation in Videos



    • Zambian politicians need to take a class or two in public speaking. I know this is off topic but these guys are pathetic! I can’t get past 2 sentences because I am already bored.

    • The Zambian government created KCM, just like Zambian people have have created Lungu, the fruits of dullness!!!!!!!

    • Total disgrace, what a mess, what a chaos in that small room? And so risk, exposing all those productive people to guys like Kaizer.

    • This government is very stingy on detail.

      Which sane investor will want to take over KCM? The only ones I can think of are the Chinese. Zambia owes them so much money, and this might be one way to appease them.

      The Chinese might sign a 1000 year contract, and be assured that government will have zero power to interfere in operations then.

      Would this be in the best interest of Zambia?

    • The most useless cabinet in the history of Zambia…..we are being controlled by a bunch of bandits

    • This is the best our President can come up with, even the sitting arrangements is all wrong….the former School Teacher Mines Minister keeps looking to the Kaizer and Amos showing that he is not in charge…what is wrong with PF and LAZY LUNGU can you not do things right for a change. Nonde looks lost on that team…Kaizer is simply there to line his pockets!!

    • When I said Kaizer will move to CB …bloggers thought I was joking that was even LAZY LUNGU announced this circus I know how komboni simpletons like LUNGU operate, they have zero respect for technocrats…just look at the dullards in State House around him.

  1. Total circus,deciding on liquidation before carrying out a due diligence to understand the full financial position of a company? This task is too complicated to be handled by an upstart lawyer,with uncouth party cadres (Kaizer Zulu) without top-notch experts technical and business matters in mining and tax and accounting experts!Now it looks likely that there could be sinister motives behind all this “takeover” intending to blind find suffering people while defrauding them more and the state!!

    • And to think people are celebrating.

      To be honest, this action will only suit KCM and lawyers representing both parties. They will sue the government and be awarded a lot of compensation.

      Zambians should learn to follow processes, especially if there are legal connotations.

      This government is broke, and it thinks (re)selling KCM will give them a sudden infusion of cash.

      To the KCM workers, my advise is to you is that you should look for other jobs, or go into farming.

    • Its a sad sight…everything that is wrong with PF and LAZY LUNGU on display to the whole world…Mines Minister knows that he is just a passenger there they really people incharge are State House officials like Kaizer and Amos.

  2. The body language of the labour minister says it all. She is deep in a maze and cannot believe what is happening. The question is, what is Kaiza Zulu and Amos Chanda doing there? You call this a high powered delegation like for real? Where are the technocrats and the attorney general? This will boomerang in your faces. Even the so called liquidator is lost in the jungle on oblivion. Does he understand the mining jargon and later alone the intricacies of mining? These Indians are way head of you and have manipulated the system already, all the money is in India as we speak. They will soon respond in court with a barrage of information that will leave you dumbfounded. Political antics wont take you anywhere be professional in your approach.

  3. Show me your friends and I will show you who you are!! It’s really disheartening to see midiocrity on display. Lungu and his cadres have crushed the Zambian economy and the least of the people you would expect to provide revival plans for the mine. They can part themselves on the back, but the fact of the matter is they have collapsed all the institutions in Govt, parasitatals, and private in the country to expect them to provide solutions for the mine. The cadres he has appointed just shows you that he doesn’t have any tangible solutions. They all know theirs no more money to come from government projects which were being handled by state house. So to keep his cabal of criminals happy, he has given them a mine to keep them off his back. Do you need Amos, Kaiser, Sikazwe and all the…

  4. zambia is the next zimbabwe. all the signs are there: 1)worst performing currency (2)kicking out investors without a plan or strategy with the aim of gifting loyal unskilled cadres with roles in the mining sector (3)skyrocketting cost of living for essential products like mealie meal (4) strong affinity for the chinese who turn blind eye to human rights and workers rights (5) all the above happening under the poor leadership of a “patriotic front” party.

    Do not say we in UPND didnt warn you. Vote UPND in next eleciton, and if they steal the vote demonstrate in the streets like professinal associal of sudan
    Chief Strategist of the UPND X

    • This certainly “smells” like another wana be Zimbabwe, the once bread basket of Africa.
      What have we learnt from Mugabe’s “land reform” that left him with the African basket case.

    • Are you responding to the right article, in the right country Love? You seem confused on the subject matter.

  5. Mediocrity at its worst. How do you call yourself a high powered delegation? What a circus! What is high powered about that delegation. Really laughable. I feel sorry for highly intelligent and hardworking people like Enoch Mponda ( saw him on video clip). All the best my friend. Good luck dealing with that ” High Powered Delegation”.

  6. Only Tongas vote for UNPD,a party full of Tongas and hatred.Dudumwenzi results told us everything about this tribal party.Other tribes wants to show you in 2021 what they are capable of doing in terms of their voting patterns within their “Dudumwenzi”.

  7. If I heard the genesis of this issue correctly what was announced initially was repossession, which in effect means taking back what initially belonged to you for various reasons that I may not go into now. But what I have seen now it that a process of Liquidation has commenced meaning winding up a company and selling its assets to pay off unsecured creditors in brief, now the two meanings are different and I don’t know weather the initial pronouncement was intended for the current action and that to me is confusion. now if people are not given the right information from the beginning, they will get a shock of their lives in the end, and I believe this initial excitement will sooner than later turn into a funeral because the foundation is wrong, it is like making a foundation for a…

    • @Lindo, are you reading the same articles?

      If you think of it, repossession is a form of liquidation, reverting property back to owner. There are no dark clouds on the horizon. This is positive.action by the govt. Vedanta is a terrible company with human rights abuse record.

  8. Kwacha gained huge rolling back losses of May and April. Rate now at 13.5 from almost 15. Message that hoarding medium exchange of wealth of Zambians to blackmail them from their wealth will be met with full force has gotten through. Liquidator simply told management to offload the dollars and pay local suppliers. Exchange rate should hold unless economic fundamentals change. Chicanery drove the rate up instead.

    Liquidators in Zambia have done very well in ensuring that failing corporates for among other reasons rogue managements with intent to circumvent company obligations are thwarted. Take Agriflora, Munali Coffee, Zambezi Portland, Lubambe Mine, Post Newspapers, Zambian Airways

  9. Now I understand why people complain so what is the role of Kaizer and Mr Amos Chanda at the press briefing. Maybe they have no idea what their job description is. Their presence just make the Presidency laughable

  10. Only UPND sycophants and zealots and enemies of progress are against this unless it’s done by their Supreme leader HH of the UPND whom they worship all because of group think mentality…

    • @Fwanya, don’t forget we are dealing with the mess ,HH saddled us with when he sold our mines to the foreign investors. And…. unbelievably he wants s second gig as President to carve the country for his tribal benefits. That is why they argue on everything……constitutional amendments, (0), Bill of Rights (0), come to parliament to do your MP duty? UPND(0).

      It’s like a terrible farce called…,’The Political Ambitions of Demons,’

  11. Stop the personal insults to our Leaders. WE ALL KNOW ZAMBIANS SPEAK ENGLISH LIKE THAT.

    The alternative is to remove English as the Official language and use our own languages in which our politicians are very fluent and comfortable using, like in other countries. You get text at the bottom on screen with English interpretation.

    ALL YOU CRITICS ARE COLONIALIST APOLOGISTS. Stop spreading your ineriority complexes on social media so your foreign pay masters can dash you some more cash. WHO ASKED/APPOINTED YOU TO FEEL EMBARRASSED ON OUR BEHALF. This is who we are.

  12. When I said the Indians will come right and lungu will relent , I was wrong.

    Looks like lungu and PF are going for it. They have a bigger scheme

    I must give them credit for taking such a bold move , reckless as it may be.

    If PF run that mine for just 6 months , they will have raised campaign funds to fight 2021.

    It now looks like this is indeed a temporary ownership to raise campaign funds. Only the Indians with injunctions banning sale of copper from KCM can stop this,

  13. Watched the videos and I feel reassured the govt and those appointed know what the are doing. The insults from opposition seems to around the appointed and some personal grip with them. They addressed the workers of work and acceleration of production to meet demands of change management. They assured expatriates of continued work and sought their collaboration in the matter. They spoke on security. They asked for peaceful conduct in the mining towns.

    Most discord is with personal hate of the Presidents and chosen team. It’s all allegations-ville, with no substance. Why the venomous tone?

  14. kikiki pa zed , people matching demanding kcm to go, today the so called opposition are blaming gvt the step they have made, drama continues

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