Tuesday, May 21, 2024

Habaazoka wants Government to takeover some mines without compensation


President of the Economic Association of Zambia(EAZ), Dr. Lubinda Habazoka
President of the Economic Association of Zambia(EAZ), Dr. Lubinda Habazoka

President of the Economics Association of Zambia Lubinda Habaazoka has suggested that Zambia should nationalize some mines without compensation.

Dr Habaazoka contended that nationalization of the country’s mining assets can lead to economic freedom.

The Zambian government is in a court battle with Vedanta Resources after it attempted to take over Kongole Copper Mines.

Dr Habaazoka alleged that most of the foreign mining companies have no heart for the people.

He stated that the key reason for nationalizing the mines is because the foreign owners have allegedly been cheating their taxes.

Meanwhile, the Economics Association of Zambia will this week be hosting the first ever National Economic Summit to be graced by President Edgar Lungu.

According to the Association, the Summit is a big score for the nation as it move towards issue based national economic discourse and relaunching economic diplomacy.

The Association hopes to market Zambia to the rest of the world but also come up with initiatives that will make Zambia a launch pad for economic development in Africa.


  1. Author, where is Kongole Copper Mines? This, your article is very incoherent and lacks quality! And this Lubinda, where does he place the law (international Law) in his argument?

    • My goodness. Trouble journalism in Zambia treats Habazoka as a serious newsmaker. Stop giving this man coverage because he’s causing lots of embarrassment.

    • ichi nacho awe mwee.
      Everytime Shishuwa comes up with a good point, this Habaazoka start barking as if a gurd dog at State House.

    • How on earth was this Communist Economist elected? The chap is a serious joker with no ounce of intelligence or critical thinking at all. And proudly calls himself a Dr Habaazoka. The man belongs in a Zoo. What an embarrassment. International agreements have to be respected for FDI to work. Zambia got a raw deal in the mines because of incompetent negotiators.

    • Calling Habazoka a baboon is to overstep the bounds of decency in criticism. I normally disagree with Habazoka but that’s where it ends. He remains my fellow citizen.

    • Let’s be honest if you are as old as this guy and never went to UNZA or CBU and ended up in Russia your grade 12 certificate must be very embarrassing to look at

    • You ended up studying agriculture economics at some useless Russian university and come back as an economist with a useless PhD. The is a lot of them here in Western Europe and no one can employ them only in the land of the blind can he even lead a national economic association

    • The Engineer: As people we are @ our persuasive best when we’re polite and measured. When you insult, u get insults in return. How helpful is that in problem-solving?

    • @Nemeine
      You are exhibiting a cannon problem with Africans. You rather massage each other to avoid the truth. Call a spade a spade

    • @1.9 TheEngineer, the guy got 6 points at G12, let the record show.

      However, as they say being clever is not the same as being wise… on this one he has missed the boat from my point of view

  2. A complete fool with brains – this man is. Is he really an economist? Perhaps voodoo economist!

    He should not be allowed anywhere near the corridors of power. Even in the village you don’t think in such reckless and outrageous manner.

  3. You are failing to manage a simple bus station with your cadreism and you think you can manage a mine. That is why my Swiss white beautiful wife thinks you are all crazy pyschos

  4. Habanjoka please learn to shut your mouth when you are ignorant. You sound more like a politician than an economist to me, are you sure EAZ is not some kind of political party?

    And whoever attends this “summit” with Habanjoka at the helm risks questioning his credibility, I am serious.

  5. Zambian government will mostly lose the case against Vedanta. More debts to pay! Kaya mwandi this country. One day this country will be liquidated

  6. Talking of nationalizing mines and in the same breath also talking about promoting Zambia through the National Economic Summit as to attract foreign investment!!! Clueless? no wonder we’re moving backwards! Who on earth would want to invest and then have their investment nationalized?

  7. Nonsense!! Is there anything run by government that has ever produced something to write home about? Let’s just find better investors

  8. Habazoka is right. If privatised mines are cheating on us we can as well as run the mines ourselves. Eg Mopani came in 2000, year in year out they never make profit, but they buy investing in the same unprofitable mines. It’s funny, it’s like they think we lack reasoning. Zccm did really tick, but lacked accountability. We can always learn from our passed errors. Chile is running their mines why not us. Let us not always rely on outsiders even on things we are able to handle.

  9. He studies in Russia…..’socialist’ economist! You are living in the past! How can anyone advocate for possession without compensation?

    If government wants to run mines, why not just start up new ones?

  10. I hope he (Habazoka) was misquoted!! IF we are serious about economic freedom,let us start by supporting the so many Zambians struggling to run SMEs and let us explore and open our own mines- NOT grabbing with out compensation what others have financed and developed.We can only ruin it due to indiscipline.We have been there before!!

  11. Habaazoka has a point, privatisation has failed and as a country we’re getting a raw deal frm our natural resources. Ad those who are against wht the govt has done on KCM are really blind of wht is inside, this is a good move for the majority Zambians.
    55yrs we still want to be economically ruled by foreigners, whn a we going to wake up? Let us stand as one ad look at ourselves not to foreigners. Those foreigners are here for our resources ad if those resources finishes, they’ll go back ad we be left with empty pits with nothing. Foreigners hv no love for this country than a Zambian himself. Wake Zambians ad look at ourselves than to foreigners.

  12. What needs to be done is ensure officials who make deliberately erroneous & dubious decisions that cost the country must be made to be pay back to the state.If vendatta wins the case and the country is made to pay,those who made the decisions should pay back.Even in the zamtel saga what the country paid to Lap green should be recovered from those who made the erroneous decisions.paying back is the key and they will stop these reckless decisions

  13. How did this guy become an economist and president of such an important association? I have a very big question over some of these doctorates. At Dr. fimo fimo kikikikikikikikiki

  14. Economist???? GRZ’s track record regarding their management of parastatals speaks for itself. If you have ever complained about Zesco, then you need not say anything about government taking over the mines. Why are people forgetting that a lot of capital needs to go into underground mines or is it simply a matter of not knowing? The mines definitely would not be spared from the perpetual mismanagement of funds that we see.
    And Chile needs to stop being cited as an example as it has the largest open pit mine in the world. The costs of running such are significantly lower. Then there are all the policy changes PF has introduced since they arrived which have negatively impacted the industry. The latest one iya sales tax is yet another step in the wrong direction.

  15. This Habazooka guy is disappointing, its only until I realised he did his Economics in Russia that I know I understand why he talks a lot of nonsense.

  16. Habaazoka must understand that KK acquired majority ownership in the Mines through compensation and not by force.Nationalisation by expropriation is never a viable option without attracting exacting or worse repercussions and/or sanctions.

  17. We have no choice but to get what is rightfully ours by what ever means and that is majority shares in all the mines.
    We cannot be borrowing money from IMF and others when we just need prudent mangement of the mines and sound Tax systems devoid off corruption supported by good political will and Natioanal patriotism.

  18. Was he misquoted?Maybe there is something to be corrected.I can not believe he said this.If he did I just do not understand how he was elected President of the Economic Association of Zambia.The elections must have been rigged.

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