The Embassy of the United States is partnering with the Government of the Republic of Zambia to strengthen regulatory oversight and improve fiscal governance in the country’s vital mining sector. The U.S. Department of State Bureau of Energy and Natural Resources, through an 18-month program under its Energy Governance and Capacity Initiative (EGCI), has joined with Deloitte to provide technical assistance to the Ministry of Mines and Mineral Development.
U.S. technical assistance will provide the Ministry of Mines and Mineral Development with a better understanding of the fiscal implications of mineral resource development, including a review of existing revenue frameworks, in order to strengthen Zambia’s international competitiveness and attract greater private sector investment. In addition, the EGCI program will provide an overview of international best practices in regulatory and policy development in the mining sector, including a review of the Mines and Minerals Development Act, in order to support a stable and effective regulatory regime for the mining sector.
Commenting on U.S. assistance to promote economic prosperity in Zambia, Chargé d’Affaires, a.i. David Young stated, “We’re very excited to partner with the Ministry of Mines and Mineral Development on this project. We believe that a stronger framework for regulatory oversight and fiscal governance will help Zambia to attract greater investment into the mining sector, which in turn will support job creation and drive economic growth.”
Even foreigners know we are being ripped off…but our dull President would rather read speeches
I just finished studying International business Law at a US institution. The art of Tax evasion and contract drafting and deal structure that enables transfer pricing is beyond what they teach in a normal law class. You need to get up very early in the morning to catch these guys. The CFO of GLENCOR was boasting that we don’t pay any tax in Zambia. I’ve learnt why. We need to start teaching international business law as a must in zambia. Also an LLB qualification is not enough.
This could work well for Zambia
Mwila bepwa tapali ifyo bengafwa aba Bantu, nifwefye fwebene twinga chita ifituntulu , balefwaya ifya ku finsha tapali Bantu chimo.
Ebamo bene batuma batuma ba ka bolala , kuku twibila nga ba investor .
I don’t understand why we need help to launch and or implement our national policy on this.
It’s a sign of inadequacy and incompetence on our part as a sovereign republic to be supervised in fiscal matters and resource management. So what did we gain independence for? Might as well call back the British Overseas Mission Administrants to take over from where they left in 1964.
They say once bitten, twice shy. From IMF or Lazard – none of them could help alleviate the debt burden, so when will we Africans ever learn that western ambitions are not always in our interest? Their method has not changed: first they use and refuse, then confuse, neglect and reject.
The whole PF GRZ is preoccupied with HH and pre occupied with staying in power.
Only when lungus GRZ is broke now they want to milk mining firms to cover their incompetence and looting Zambia dry…..
Hopefully someone in office reads this, Zambia purchasing its own Gold mined from its own soul is another way that we are loosing out. We can learn from Nigeria, they got nothing from oil produced in its country due to accounting tradecraft by foreign companies and passed a decree, whatever oil is extracted Nigeria keeps half. Zambia should do the same for all its minerals. Let the investors bring in resources and equipment in exchange we don’t charge them duty. How ridiculous that we should be buying our own resources.
We are still imperialized by the same all, same all system I don’t know why we can’t learn a lesson and do our own thing and see where it will take us rather than listening to the same tune. what pisses me off is that even a small project we can do ourselves we have to involve the foreign country to help us. we are forgetting that we have haft amount of debts to pay and we’re still accumulating more I agree with what Nine Chale said we might us well let our former colony to come and do administration work for us again. Do we really understand what been (independent or independence) means? it means D.I.O DO IT OURSELVES!!!! Mind you all these foreigners are very patriotic they have the same thing in common when they smell a rat. We have to be vigilant us a nation we can’t allow…