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Alba Iulia
Thursday, July 2, 2020

Government should not ransom the Future of Youths and Zambians on a Paltry $3.5 million Karma Gold Investment-Kalaba

Headlines Government should not ransom the Future of Youths and Zambians on a...

Democratic Party President Harry Kalaba has written to President Edgar Lungu on the ongoing debate regarding the alliance between ZCCM-IH and Karma Limited that culminated into the formation of a Special Purpose Vehicle in Consolidated Gold Company.

In his letter dated 26th May 2020, Mr Kakala has reminded the Head of State that Zambia is going through various challenges that should have been avoided or better prepared for as a country.

Mr Kalaba has pointed out that Zambia’s currency has depreciated by more than 300% since January 2015 while unemployment in the general population is a staggering 42% with youth unemployment at 50%.

He said the country’s sovereignty is threatened by the unrestrained contraction of debt without due regard to the lines of the contracts nor properly done business and repayment plans.

Mr Kalaba said not only is most of the debt unnecessary and ending up in pockets of those walking the corridors of power, but the contraction of loans is also free for all for President Lungu’s administration making it difficult for Ministry of Finance to know the actual agreements of the loans and the total amounts as anyone can contract loans and commit the people of Zambia to a lifetime of bondage to liquidating the loans which hardly benefited them.

He said while God has heard the cries of the Zambian people with the discovery of gold deposits, the government has gone ahead to start mining the gold despite not having a well-structured strategic and implementation plan as a government that protects the interest of Zambians and safeguards this important national asset.

“While all Zambians are expecting the gold industry to be a game-changer your office goes ahead and partners with a firm which is foreign on face value for a paltry $3.5 million, ransoming the future of the youth and the Zambian people”, he added.

Mr. Kalaba has urged the President to have a heart for the people of Zambia not only in words but in action too.

He said the people of Zambia including himself voted for him as they trusted that he was in a better position to administer their resources responsibly on their behalf.

“We voted for you believing you were going to reduce inequalities unlike what we have seen where those in leadership and their friends have amassed wealth which does not correlate with their incomes, while the rest of the people have been made poorer than they were in January 2012”, added Mr. Kalaba.

He advised the PF administration to deliver the resources back to the people of Zambia saying they owe it to the Zambian voters and the people who gave him the decorum and authority over them to cancel and reverse the rampant theft of the resources by revoking the gold processing contract.

Mr. Kalaba said the Democratic Party is watching the development with interest and are ready for any possible action adding that Zambians deserve a chance to own their economy.

“The hardworking Zambians deserve a chance to take ownership of the private sector economy. In the same manner that you have been destroying Zambian companies, we expect you to build the Zambian companies as well. We expect that government will facilitate US $3.5 million dollars for Zambian equity partners”, he said.

“Your office has already set precedence as you went to China to borrow money for Top Star a Chinese company to be operational in Zambia on our debt. If Government cannot source those funds then at least allow the Zambian people to raise the funds and become the partners”, he added.

He expressed hope President Lungu can create a last-minute legacy by doing the right thing this time around.

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13 COMMENTS

  1. I believe $3.5m can be raised on the Lusaka Stock Exchange from us Zambians when we buy shares in our Gold Company

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  2. when i heard Bally said its amount that can be raised by zambians i didnt know it was a pantry $3.5million, that we are scouting from the sudanese. so appalling.

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  3. That partnership is illegal and all those who are involved must be punished.

    It is our gold and not PF and their Sudanese crooks.

    They want to steal gold proceeds through these sham investors, we can’t even trace their origin.

    Foolish PF thieves and must go!

  4. Even DBZ can lend Zambian mining experts this amount and I believe ZCCM HI can raise this amount without even borrowing, why is this government cursed with borrowing and wrong decisions? Ifyabupyani lyonse tafibomba.

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  5. Its not about the $3.5m its about the many hidden hands in the deal….. they thought business as usual we can F.OOL Zambians again BOOOM!
    2021… i see many in jail.

  6. In my view ZCCM-IH has done well and managed to entrench themselves on behalf of Government in the Zed gold business. We have no history of commercial gold mining unlike RSA, Zim, Ghana and Sudan. We may have a history of gold mining , but thats during the ing’ombe illede times.
    The first approach has to bring to the ZCCM fold all different types of mining under their control on behalf of the Zam boma. Large scale to small scale to the thamangas…create a viable gold market and buy most of the gold,
    ZCCM -IH should be apploaded, they have grown their concept to fruition…
    1. The Gold mining in N/Westen is 100% ZCCM. Thus a large scale mining licence fimo fimo..No complaints here unless you a bast.ard
    2. In Mumbwa they opted to go in with a company that is already in the business…

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  7. 2. In Mumbwa they opted to go in with a company that is already in the business and has significant experience in the gold processing industry.
    Sudanese have expertise in Gold mining and should be in the top 3 Gold exporting countries in Africa. ZCCM-IH is playing sangwapo and will access the Gold production from this company. If you don’t like the Sudanese , thus your problem.
    3. In Mumbwa, Petauke, Vubwi kaya nakuti kwinangu…ZCCM is empowering local small scale miners with machinery and expertise and will provide a ready market.

    Keep it up ZCCM-IH and let us build on this foundation.
    in a few years buy out the Sudanese and life goes on…ofcourse they are entitled to make money anywhere in the world just like Zambians can go make money in Nigeria or somalia.

    Sindalama…

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  8. In his letter dated 26th May 2020, Mr Kakala has reminded the Head of State
    ….
    So imwe ba Lusaka Times ninshi muna mutambila Harry for you to call him Kakala “small d*ck”?

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  9. “He expressed hope President Lungu can create a last-minute legacy by doing the right thing this time around.”
    Asking Lungu for anything is too much expectation. This story will remain like this and just die out.

  10. Everytime Kalaba talks about such issues he leaves a sour taste in my mouth especially mines remember that mine him and his rich Malawian Pastor friend have shares in

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  11. Fair comment. But that is not what Zambians want to hear from opposition.

    WE WANT CREDIBLE OPPOSITION that will front NATIONALISATION. It’s not acceptable to privatise our mineral resources so only a few have benefit, EVEN IF THEY ARE ZAMBIAN SHAREHOLDERS OF A PRIVATE FIRM.

    This is about, drawing a cross across foreign investors having a majority controlling share in our resources. We the people do not want what happened at Mopani to happen again, where, they shut up shop and were caught sneaking out by the backdoor without telling govt and leaving workers without work. AND WHERE ARE THE VENTILATORS FOR HOSPITALS, THESE MINING CONGLOMERATES are supposed to donate by way of social responsibility??????? This is not ‘win, win,’ for us.

  12. It’s better for Zambian govts to borrow loans to BUY BACK our mines from these investors HH saddled us with. That makes better sense. We’ve done infrastructure, hospitals, colleges, universities, shopping malls………next let’s BUY BACK our mines. NATIONALISE.

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