Monday, June 17, 2024

I don’t mind Vedanta back at KCM as long as they behave-Chipoka

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Chingola Central Member of Parliament Chipoka Mulenga says he does not mind having Vedanta Resources back to run KCM as long as the Indian investor follows the law.

Mr Mulenga who is also Commerce, Trade and Industry Minister said the name of the investor coming to run KCM does not matter as long as they respect the laws of the land.

He said KCM operated efficiently and was a good employer even under Vedanta during the reign of President Levy Mwanawasa because he was a disciplined leader who was respected.

Mr Mulenga said the situation at KCM worsened during the reign of President Lungu because the investor knew that it could get away with a number of things.

He was speaking Thursday morning when he was featured on Hot FM’s Red Hot Breakfast Show.

“For me I don’t care the name of the investor who is brought to run KCM, what I care about is having a company that respects the law, contributes to CSR and treats its workers well and if Vedanta returns and is ready to follow the law, I have no problem with that,” Mr Mulenga said.

He said the new dawn government is focused on transforming the mining sector and increasing the benefits to the country.

Mr Mulenga also defended the role of the US government in the establishment of the Mineral Value Chain for Electric Batteries with the DRC government.

He said the US government is bringing technology and financing for the establishment of the electric battery manufacturing plant but those other players would be free to participate.

“This deal is not exclusive to the US, we are talking with other potential partners in this project. We have already identified a site in Ndola where this plant will be located,” he said.

Meanwhile, Minister of Commerce, Trade and Industry Chipoka Mulenga notes that Zambia has continued witnessing increased investment in the economy because of the good policies of the United Party for National Development (UPND) under the able Leadership of President Hakainde Hichilema.

Speaking on Hot FM’s Red Hot Breakfast Show yesterday, Mr Mulenga stated that the UPND has brought stability in the business circles following the stabilisation of the exchange rate and also the inflation rate.

“We have managed to drop inflation from 24% to 9.8%, which made so many business owners having to do business in a very unstable manner and environment, controlling of the exchange rate which brought so much unpredictability in the business circles, from 23 Kwacha to what we have today, before this, it was difficult for Zambia to trade with other countries and the importation of goods was so much unsustainable but that’s no longer the case,” he said

Mr Mulenga added that the New Dawn Government has created an environment where job creation is beginning to be seen as opposed to an environment where there was no job creation, as these are the facets that must go on in creating an economy from an unstable state to a more stable state.

Mr Mulenga who is also the Chingola Member of Parliament mentioned that Zambia was now on a positive economic growth trajectory despite UPND having inherited an economy which was recessing at negative 2.8%, adding that between August 2021 and now, Zambia has recorded positive growth of about 5%.

And commenting on the controversial Tweet recently made by the United States of America (USA) Senator of Foreign Relations on Twitter concerning Zambia’s relations with the USA and China, Mr Mulenga highlighted that Zambia was actually a uniting factor between the USA and China, no wonder both the Chamber of USA and Chamber of China were brought to Zambia, he emphasized that Zambia does not side with either country but engaged in trade and other bilateral undertakings with both countries.

He also applauded the National Pensions Authority (NAPSA) Law which he said will empower the Zambian people. He said it was not right for the Zambian worker to wait for a long time for money they worked for, hence the coming of the NAPSA Law is good as it will ensure people get paid their money as and when they need it.

Mr Mulenga, who was part of the entourage of President Hichilema at the just-ended US-Africa Summit in the USA, highlighted that such foreign trips were not meant for tourism purposes but to collaborate with others in matters of common interest since Zambia was not an island but part of the global village.

“We need to work with others. We have the land, labour, and favourable climate and they have the technology. It is important to collaborate. For example, $150 million is being injected in Chililabombwe alone because of such trips aimed at attracting investment into the country,” he said

He said that the UPND was clearly on course in creating a better Zambia for all. He said that Zambia is now witnessing timely disbursement of funds including the Constituency Development Fund (CDF) for various projects, pointing out that this was never seen in the previous regime.

“They tell us to stop talking about CDF but we can’t stop talking about it because it’s indeed a game-changer which has come to improve the livelihoods of our people. During PF, it was only at 1.6 million Kwacha but we’ve added an extra 25 million Kwacha which we disburse on time,” he said

Mr Mulenga appealed to media houses and journalists in the country to protect the country by reporting responsibly and with professionalism and patriotism, adding that players in the media should not take pride in propaganda.

14 COMMENTS

  1. There is no running away from the fact that Vedanta are part and parcel of KCM as the majority shareholder. No law abiding government can just grab a mine and ignore all courts of law and their judgements. Whatever solutions that will be found for KCM, Vedanta shall be involved or be part of it, full stop. PF messed up when they went the liquidation route, despite all the advice they were given not to do so. Now the diapers have been soiled already and the mess needs cleaning up. We have no choice but to hold our collective noses and negotiate for the best terms for Zambians with the Indians.

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    • PF of incompetent Lazy Lungu would have got KCM legally if they followed the law to the letter but greed got the best of them sending State House officals like Amos Chanda and the real KZ to oversee the liquidation. I just dont see HH turning his back on Vandanta given that he went to SA Mining Indaba last year himself just to meet the Indians HH is not Mugufuli who would have made his position known just look at how they have stalled on Forest 27.

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  2. Vedanta stopped timely paying local suppliers and failing to settle most financial obligations during MMD era under RB. Invoices could only be paid after 90 or 120 days. KCM challenges have nothing to do with ECL: which is why he drastically “liquidated” KCM. He showed leadership and the investor felt that leadership.
    What new meaning to Zambia are these investors bringing when back?

  3. This is like a Jew saying I dont mind the Nazis coming back as long as they mind their own business and dont invade us…Vandanta are a bunch of Indian crooks who have no respect for you if they had a choice they would have brought their whole clan to run the whole company from secruity guard to CEO oh wait that is what they did.
    When you hear chaps talking like this just know that Vandanta has been sending the brown enevlopes to these shortsighted politicians who only eat for today.

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  4. The name matters . Its their identity and we associate their malicious behaviour with it. We cant allow them back if they do illegal stuff

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  5. The source of the problem is that Mwanawasa gave them the mine for nothing in 2004. This is what gives Vedanta the idea we are all fools, when a lawyer president throws money and rights down the toilet

    • MIners protested only because their corrupt union bosses were in the pocket of PF now they are quiet because Vandanta is greasing their palms

  6. Judas Iscariot
    Vandanta is on record declaring losses and not paying local supplies in million of dollars, the evidence is there! That behave is unacceptable! Go to Australia,Canda, USA , even in Botswana or south Africa they will not accept, it’s only in a cursed nation like Zambia where politicians interest is their pocket and not the nation, by the way 20% shares ZCCM-HI is it still available or it’s been sold! with is puppet government i don’t know. No proper direction.

  7. Apa peve ba U.P.N.D, MWAYITAYA!!
    Honestly?
    * To be bitten by a Dog is very unfortunate. However to be bitten by the same Dog twice is damn right 2tupid!!. Why on earth would you even entertain these criminals ba U.P.N.D imwe?
    Do you really see the bigger picture? If you employed someone to look after your lovely children whilst you were away @ work & one day you discovered your childminder was beating up your children so you go ahead & sack that childminder, why would you even consider re employing that same childminder, if they re applied for the job, promising “this time I will behave”, unless these ministers are turning into brown envelope lovingP.F officials?
    It’s issues like this that lose you popularity & the cr1minal enterprise that is “the N0torious P.F” will grasp…

  8. Ap@ p3ve ba U.P.N.D, MWAYIT4YA!!
    H0nestly?
    * To be bitten by a D0g is very unfortunate. However to be bitten by the same D0g twice is damn right 2tu.pid!!. Why on earth would you even entertain these crim1n@ls ba U.P.N.D imwe sure?
    Do you really see the bigger picture? If you employed someone to look after your lovely children whilst you were away @ work & one day you discovered your childminder was beating up your children so you go ahead & sack that childminder, why would you even consider re employing that same childminder, if they re applied for the job, promising “this time I will behave”, unless these ministers are turning into brown envelope loving p1yefu officials?
    It’s issues like this that lose you popularity & the cr1minal enterprise that is “the N0torious Piyefu”…

  9. This guy is just parroting what his boss has told him. Be it Lungu or Mwanawasa these Indies were going to misbehave. Lungu only misfired by rushing in, in order to please the Chingola residents including this Mumbwe barking here

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