The acquisition of Mopani Copper Mines by Delta Mining Limited is a scandal that many will regret in due time. So far in this particular week, this is the most bizarre announcement that the country has heard and ought to pay attention to.
Listen to part of paragraph one of the announcement. “has agreed to acquire 51% of shareholding of Mopani for an investment total of up to $1.1 billion.”

This statement above is one that is simple but very tricky. I will try to explain it below according to my understanding.

(1) Before this transaction, Mopani was wholly owned by Zambians through ZCCM – IH.
(2) Upon acquisition, 51% of shareholding moves from the Zambian people to Delta Mining Limited. This means the control of the mines moves instantly to Delta.
(3) From now on, all future dividends will accrue to new shareholders in line with current shareholding structure.
(4) Now, what has Delta given to the existing shareholders as consideration for them to give up their controlling stake in the mine? According to the announcement as referred to above, Delta is giving a promise to invest up to a total of $1.1 billion. This is one of the most silly expressions that I have ever seen in such transactions.

My question is – once Delta invests $1.1 billion in Mopani, and the mine starts to perform, and consequently the mine starts to issue dividends, who will be receiving those dividends? Is it not Delta itself? If the answer is that it is Delta that will be receiving those dividends, how then can an investment into its own company be considered as consideration for Zambians to give up a controlling stake in the mine?

This is like someone coming to takeover your house and saying, “I will construct a wall fence to the house, and I will also put pavers and then you will remain with a servants quarter as your 41%.” And then as the original owner, you are paid nothing. All you are waiting for is that wall fence and pavers as a payment for giving up the main house, the 51%. If this this is not foolishness then I don’t know what is.

And once new tenants come in, the one who took over your house will receive rental income from the main house while you receive your rental income from the servants quarter.

We have been taken for granted on this. This is one of the most audacious Zambian company transactions I have heard about since privatization.

Let me end by reminding the investor that Article 210 of the Constitution awaits you. Even though the people know about the attempt to mutilate the constitution by making haste amendments to it, owing to the fear of what may come due to such transactions may be under way, I strongly recommend that investors should take due care.
This advise is hearty from my point of view.

Restoring EVERYTHING PATRIOTIC.

MK26.02.2024

Patriotic Front FB page

We would like to caution Mr Hakainde Hichilema and his league to respect the nation’s biosafety protocols, in particular the importation and consumption of Genetically Modified Organism (GMO) maize or mealie meal.

GMO maize or mealie meal is prohibited in Zambia, and all successive administrations – UNIP, MMD, and PF- have adhered to these regulations and protected citizens from exposure to these foods.

But we are afraid that if there’s crop failure, as it seems to be the case in this situation, the price of our staple food – mealie meal will more than double, and Mr Hichilema and his corrupt tribal puppet regime will end up feeding this country with imported GMO maize or mealie meal.

We sounded the alarm on this matter last week and before the week could even conclude, our fears were confirmed after the Republican Vice-President Mrs Mutale Nalumango informed the nation that GMO mealie meal is safe for consumption. The Vice- President’s remarks came at the back of a report by the Zambia National Service (ZNS) that the GMO mealie meal, which was meant for export to the DR Congo had been stolen in one of their storage facilities.

Clearly, the perpetrators did this with the view of selling the said GMO mealie meal for consumption on the Zambian market.
Vice-President Nalumango’s stance on the consumption of GMO products, specifically mealie meal, is not only a major policy shift for Mr Hichilema and the UPND government but also revealing of what this corrupt tribal puppet regime intends to do when scarcity of the staple food hits the country owing to crop failure. We said it that the options are very limited for them, and so, the Vice-President’s recent encouragement on the consumption of GMO mealie meal settles our argument that this government will most likely import GMO mealie meal to feed to the nation.

We are aware that they are panicking because they have virtually wiped out the national food reserves after they sold the all maize that could have been used as reserves to the DR Congo and other neighbouring countries. They are under extreme pressure because hunger is looming.

So, they have hatched a plan to begin campaigning for the consumption of GMO maize or mealie meal. This government intends to mobilise various stakeholders like the Church, civil society, labour movement, and their surrogate political parties, among others, to advance their GMO consumption agenda. They’re mobilising, and very soon, we shall see paid voices begin echoing Vice-President Nalumango’s comments on GMO mealie meal consumption.

We urge Zambians not to treat the Vice-President’s statement on the consumption of GMO mealie meal lightly because it is all part of the grand scheme to introduce GMO mealie meal on the market and feed it to our people.
We must resist it.

Fred M’membe
President of the Socialist Party