Wednesday, June 25, 2025
Subscribe
Home Blog Page 2134

Individual Judges accountable for their conducts- Chief Justice

Chief Editor
-
39
Individual Judges accountable for their conducts- Chief Justice
Chief Justice Irene Mambilima
Chief Justice Irene Mambilima

Chief Justice Irene Mambilima says the amended Zambian Constitution creates the necessary framework to secure or guarantee the functional and financial independence of the judiciary.

Justice Mambilima said while a legal and institutional framework to regulate the conduct and performance of judges and magistrates do exist in the country, each individual judge and magistrate must be accountable for his or her conduct and performance.

Officiating today at the 7th annual law conference being held at Avani Victorial Falls Resort Hotel in Livingstone, Justice Mambilima said the individual judge or magistrate should not report late for work or adjourn cases unnecessarily.

She said no judge or magistrate should tolerate or be receptive to improper influence, inducements, pressure, threats, or interference, whether direct or indirect because each of these vices serves to subvert or negate the independence, integrity and accountability which are so critical to the role of a judge or magistrate.

“Those of us who are privileged to manage the judiciary must be accountable for its performance as an institution. Our expectation as an institution is that, as appropriately intended by the framers of the amended constitution, the judiciary must practically enjoy the ability to exercise control over its own funds and apply these funds in accordance with its own priorities for the better administration of justice,” Justice Mambilima said.

She mentioned that a lot of planning goes into an efficient justice delivery system adding that the judiciary is best left to direct such planning and to set its priorities.

The people expect the judiciary to discharge its functions to the best possible standard adding that the judiciary also believe that nothing should be allowed to stand in the way of its desire to fulfill the expectations of the people from whom it derive its authority.

And in her welcoming remarks at the event, Law Association of Zambia (LAZ) President Linda Kasonde said lawyers in the 21st century need to be courageous, innovative, informed and prepared to make sacrifices.

Ms. Kasonde said the judiciary has a duty to serve the people of Zambia diligently by upholding the law regardless of the personalities or subject matter involved.

“We hold this conference under the theme “Power, Privilege and the Pursuit of Justice: Legal Challenges in Precarious Times”. This a very relevant theme at a time when the country is going through challenging times both economically and politically,” Ms. Kasonde said.

Ms. Kasonde expressed hope that by the end of the conference, meaningful resolutions will be arrived at in order to help in addressing some of the developmental and rule of law challenges the country face whilst at the same time enhancing legal knowledge and skills.

Nevers Mumba application for bail fails to take off

Chief Editor
-
25
Nevers Mumba application for bail fails to take off
Dr Nevers Mumba in court before he was convicted and sentenced
Dr Nevers Mumba in court before he was convicted and sentenced

Ruling in the matter in which MMD faction leader Dr. Nevers Mumba has application for bail pending appeal following his conviction could not take place today due to non-availability of Principle Resident Magistrate David Simusamba.

Dr. Mumba who is serving a three months prison sentence for giving false information to a public officer applied for bail pending appeal to the High Court.

On Tuesday, 3rd April, 2018, Magistrate Simuusamba heard the application for bail and reserved ruling for today, 5th April, 2018.

However, no reason was given as to why Magistrate Simuusamba failed to show up for the ruling.

And Dr Mumba asked God to forgive his persecutors as he was whisked away in a vehicle back to prison.

Meanwhile ,Civil Rights Activist Brebner Changala has described the Magistrate’s absence as an abuse of the court process.

Mr. Changala wondered why Magistrate Simuusamba stayed away when he is the one who set the date to deliver ruling in the matter.

Kampyongo lauds prison transformation

Chief Editor
-
5
Kampyongo lauds prison transformation
Home Affairs Minister Stephen Kampyongo
Home Affairs Minister Stephen Kampyongo

Minister of Home Affairs, Stephen Kampyongo says transformation of the Zambia Prisons Service to Zambia Correctional Service has witnessed a lot of changes in offender management and the whole system.

Mr. Kampyongo says a lot of new infrastructure has been constructed while officers taking care of the offenders will have to be retrained.

ZANIS in Kabwe reports that Mr. Kampyongo was speaking this morning when he paid a courtesy call on Central Province Minister, Sydney Mushanga, before commissioning and handing over 109 new houses constructed by AVIC International for officers at Mukobeko Maximum Security Correctional Service in Kabwe.

Mr Kampyongo said the government, through his ministry, will construct more houses for officers in all departments so that they have decent accommodation.

He noted that decent accommodation was among the many motivating factors that officers in his ministry have been lacking for a long time.

Mr Kampyongo assured that immigration officers, police officers, Drug Enforcement Officers and others in his ministry will have better accommodation as the project of constructing houses was in phases.

“Good housing is one of the key issues that improve morale of officers and this is why government has prioritized accommodation for workers in my ministry,” he said.

Speaking earlier, Central Province Minister, Sydney Mushanga expressed pride that the Patriotic Front has constructed so many houses at Mukobeko Maximum Security Correctional service within the short time the party has been in government.

Mr Mushanga said the housing units will make a very big difference not only for officers at Mukobeko Maximum Security Correctional service but for Kabwe district in particular and Central Province in general.

He revealed that government was constructing hundreds of other housing units for Zambia Police Mobile Unit in the district.

Mr Mushanga said construction of the houses means that the government was walking the talk as the housing units are a fulfilment of the promises the PF made during the campaign towards the last Presidential and General elections.

Meanwhile, Mr Mushanga has appealed to Minister of Home Affairs, Stephen Kampyongo to see to it that police check points and speed traps are reduced on the roads.

Mr Mushanga observed that there are three speed traps and more than five police check points between Chisamba and Kabwe, a situation he described as inconveniencing for the traveling public.

He said it would be better to deploy more police officers in communities where criminal activities are the order of the day instead of deploying dozens of officers to man road blocks and speed traps.

A few months ago, Mr Mushanga complained of numerous police check points between Kabwe and Kapiri Mposhi with too many officers at each one of the road blocks at the experience of crime prevention in communities.

In response, Home Affairs Minister, Stephen Kampyongo promised to look into the complaint of Mr Mushanga and see how he could deal with it administratively.

Wynter Kabimba’s insinuations motivated by jealousy

Chief Editor
-
21
Wynter Kabimba’s insinuations motivated by jealousy
Dr Cosmas Musumali addressing a press briefing on our nations economic crisis.
FILE: Dr Cosmas Musumali addressing a press briefing on our nations economic crisis.


By Faston Mwale – socialist activist

I find it extremely disgraceful that comrade Wynter Kabimba could peddle such appalling falsehoods, calculated to discredit the leadership of the Socialist Party and to tilt public favour against socialism.

It should go without saying that the unfortunate remarks attributed to the leader of the Rainbow Party are nothing but a packet of filth motivated by unbridled jealousy and ill will. I must aver that comrade Wynter is an accomplished political figure whom many hold in very high esteem, irrespective of his shortcomings. But for him to stoop so low to engage in politics of hate, falsehood and malice, is really regrettable.

I can state without any fear of contradiction that the majority of the members of the Rainbow Party left the party because there were very strong allegations that comrade Wynter was having clandestine meetings with the leadership of the Patriotic Front at State House, coordinated by Robert Chikwelete. He categorically failed to clear himself of the allegations. These allegations were enforced by his recent remarks that he voted for President Edgar Lungu in the last general elections and this statement summed it all.

The successful launch of the Socialist Party has obviously left him at sea and is now literally vacillating between the PF and the UPND. What has happened to comrade Wynter should serve as a lesson to all party leaders who want to patronise their members and run a party as a personal asset. Leaders should at all times realise that the greatest asset of any politician worth the salt, are the people. As such, they ought to be treated with utmost respect and consideration.

The birth of the Socialist Party in Zambia is a direct response to very strong and clear calls from people of varied and diverse backgrounds across the country seeking to chart a course out of the capitalist quagmire. We in the Socialist Party understand fully well that the birth of the Socialist Party will not only alter the political terrain but will also change the political dynamics in the country. This entails that those leaders who are still glued to pedestrian politics of cho-chise will inevitably become irrelevant to the needs and aspirations of the people.

Comrade Cosmas Musumali and comrade Fred M’membe have openly stated that they are not politicians, but revolutionaries seeking to transform society from capitalist right wing politics that flourish on cutthroat competition, unbridled greed and naked self-interest fuelled by consumerism to Marxist-Leninist inspired politics founded on equity, honesty, humility, and solidarity. So please spare them from petty politics of personal attacks designed to deviate them from issues that matter most.

ERB to combat fuel smuggling, dilution and adulteration

Chief Editor
-
9
ERB to combat fuel smuggling, dilution and adulteration


Livingstone Mayor, Eugene Mapuyo has called up on petroleum dealers and the security wings in the country to work collectively in the implementation of fuel marking technology.

This is an innovation that has been adopted by the Energy Regulation Board (ERB) where markers are added to refined fuels by national governments to combat smuggling, dilution and adulteration.

Fuel marketers deploy marking programs to prevent grade switching and to ensure proper levels of chemical addition are present.

Speaking during the Energy Regulation Board (ERB) stake holder meeting in fuel marking at the Court Yards Hotel in Livingstone yesterday, the mayor said the technology will help curb the perpetuated illegal selling of fuel and the smuggling of petroleum products in the country.

“Illegal traders have caused a lot of damage to property and loss of life due to their sub-standard storage of petroleum products. I therefore commend this move by ERB because it will bring sanity in the petroleum business”, the Mayor said.

Meanwhile, ERB Executive Director, Langiwe Lungu stated that this technology will also help the government to gather enough revenue for the country because there will be a cease in petroleum dealers who dodge taxes by smuggling fuel.

“This is a good initiative and has been adopted by a lot of African countries, Ghana being in the lead hence I believe it will be a workable idea in our country”, Ms. Lungu said.

She further said people who will be found selling unmarked fuel will attract a fine of US$30,000 or kwacha equivalent or imprisonment for over 2 years or both.

And the stake holders present at the meeting expressed confidence in the technology but called upon ERB to guarantee them safety from exploitation in the process because the idea is new to the Zambian people.

13 people plead guilty for causing damage over suspected witchcraft

Chief Editor
-
4
13 people plead guilty for causing damage over suspected witchcraft

13 people have pleaded not guilty to 2 counts of malicious damage , 1 count of arson and 1 count of breaking and entering with intent to commit a felony.

This follows a spate of violence in Mpongwe district where members of the public ransacked shops and burnt a vehicle of a person suspected of practicing witchcraft.

Particulars of the offence in the first count are that Rodwell Tembo, Clarance Kabanga and Leonard Kanungwe on the 1st day of April 2018 in Mpongwe district of the Copperbelt province jointly and willfully did damage 2 wind screens, a siding glass, a wiper and a headlamp all valued at K1, 985.00 properties of uniturtle industries.

In the 2nd count, it is alleged that Alex Tutwa, Inness Ntapwa, Grace Mwape, Daniel Mwamba, Bethsheba Mukabe, Betson Sota, Jessy Pilison, Richard Mukobeko, Rodwell Tembo, Kelly Lubebe, Leonard Kanungwa, Clarance Kabanga and Stephen Chibanga on the 1st day of April 2018 in Mpongwe district jointly and whilst acting together willfully and unlawfully did damage a cooker stove, kitchen unit, 42 window panniers, and kitchen utensils valued at K6120.00 property of Christopher Sota.

In the 3rd count , it is alleged that on the 1 st day of April 2018, the 13 accused persons jointly and whilst acting together willfully and unlawfully did set on fire a Mitsubishi canter registration ACR 6114 valued at K75,000 property of Christopher Sota.

In the 4th count, it is alleged that the 13 accused persons on 1st April 2018 in Mpongwe jointly and whilst acting together did break and enter a shop stealing assorted groceries, a deep freezer, eight 50kg bags of fertilizer, 3 injector pumps, 50 plastic buckets, a radio set, 2 television sets, 1 bucket of water paint, 10 tables, 4 chairs, 6 metal stools, assorted alcoholic beverages, 20 crates and a motor all valued at a cost of K198,860.00 property of Christopher Sota.

Magistrate Dennis Muchaba has since adjourned the matter to 11th April 2018 for commencement of trial.

Magistrate Muchaba has further granted each of the accused 13 persons K10, 000 bail in their own cognizance.

19 year youth commits suicide after being refused to marrying a girl he made pregnant

Chief Editor
-
9
19 year youth commits suicide after being refused to marrying a girl he made pregnant

A 19 year old boy of chief Lubunda’s area in Mwense district has committed suicide after he was denied marrying a girl he impregnated.

Luapula Province Police Commissioner Hudson Namachila who confirmed the development named the deceased as Pius Kaluba of Kapakala village.

Mr. Namachila narrated that on Sunday January 4, 2018, family members informed the deceased that resources were secured for him to continue with school in Lusaka as opposed to marrying when he was still young.

Kaluba however refused to continue with school because he wanted to marry the girl whom he had impregnated.

The police commissioner added that after an argument, the deceased excused himself and disappeared into the nearby bush where he committed suicide by hanging himself to a Mango tree using a rope.

When family members noticed that he had taken long to come back, they decided to look for him but found that he had committed suicide.

Police suspected no foul play and have since advised the family members to bury the deceased and mark the grave.

Meanwhile, Police in Nchelenge District have arrested a 37 year old Teacher of Katuna Primary School for alleged impregnating his 14 year old biological daughter.

Luapula Province Police Commissioner Elias Chushi who confirmed the incident in an interview with ZANIS in Nchelenge yesterday has identified the suspect as Reuben Mwelwa.

Mr Chushi disclosed that Mwelwa is believed to have been having sexual relationship with his daughter and that the matter was only reported to the police after his daughter became pregnant.

He said the girl who is in grade eight is current battling for her life at St Paul’s Mission Hospital in Nchelenge after the father gave her some unknown drugs to abort the pregnancy.

Police in the area have since charged Mwelwa with incest and procuring an abortion, and will appear in court soon.

Alcohol bill welcome

editor
-
18
Alcohol bill welcome
Some youth from Mandevu township drinking beer

The local authority in Chikankata district of Southern province has backed government’s position to introduce the alcohol bill as a control measure against the increased levels of alcohol consumption in the country.

Chikankata District Council Secretary Mary Muluti says the district supports government’s intention to take the alcohol bill to parliament so that laws against alcohol consumption can be stiffened in Zambia.

She said the announcement made by Religious Affairs and Guidance Minister Reverend Godfridah Sumaili’s to the nation that once enacted , the bill will regulate alcohol consumption in the country especially among youths, must be supported by well-meaning Zambians.

Ms. Muluti said excessive beer drinking among youths and even the older generation in the country has reached alarming levels hence the need to come up with a piece of legislation to regulate drinking.

And Chikankata District Public Health and Environmental Officer Rosemary Mooya said stiffening of alcohol related crimes is the best thing to do by government.

Ms. Mooya said in Chikankata district, both Youth and the older people start drinking beer as early as 05:00 hours, a thing she said was not productive.

Quantum Global Group says that Zambia Economy is Africa’s 8th Best

Chief Editor
-
90
Quantum Global Group says that Zambia Economy is Africa’s 8th Best

Minister of Finance Margaret Mwanakatwe
Minister of Finance Margaret Mwanakatwe

Quantum Global Group, a Zurich-Switzerland based Investment Fund and asset organisation with a large african focus has ranked zambia as the 8th best performing economy. According to their 2018 africa investment index report, zambia is also the third best performing economy in the sadc region, behind botswana and south africa.

Quantum Global’s 2018 africa investment index [aii] ranks zambia as africa’s overall eighth best on growth, liquidity, risk, business environment, demographic, and social capital factors.

The Africa Investment Index [AII] averages each country’s macroeconomic and financial indicator rankings on growth, liquidity, risk, business environment, demographic, and social capital factors. The index is constructed from the above listed macroeconomic and financial indicators and the World Bank Group’s Ease of Doing Business Indicators (DBI).

The top ten economies, in a ranking of 54 African countries, are:

1. Morocco
2. Egypt
3. Algeria
4. Botswana
5. Ivory Coast
6. South Africa
7. Ethiopia
8. Zambia
9. Kenya
10.Senegal

Among the top ten, north africa was the best performing region with morocco, egypt, and algeria as pace setters, followed by the SADC region represented by Botswana, South Africa, and Zambia, then west africa was third with Ivory Coast 5th and Senegal 10th, and finally East Africa represented by Ethiopia 7th and Kenya 9th.

Zambia’s ranking by Quantum Global is a reflection that the country continues to be recognised as one of the best emerging markets for overseas investment. It is also an affirmation that international investors are looking at a wide range of sectors for investments including in areas such as energy, infrastructure, tourism, and agriculture among others.

Related to 2018 Africa Investment Index Report, Professor Mthuli Ncube, Head of Quantum Global Research Lab stated that in spite of the improvements in commodity prices, African economies are turning their attention towards diversification to stimulate industrial development and attract investments in non-commodity strategic sectors.

Professor Mthuli Ncube also said that continued Foreign Direct Investment [FDI] inflows will continue to drive the much-needed capital to develop Africa’s primary sectors to meet the demands of the continent’s rapidly growing middle-class, and into manufacturing sectors to create more jobs, enhance economic growth and support structural transformation.

Commenting on the development, Minister of Finance Margaret Mwanakatwe says the independent ranking by Quantum Global Group is consistent and in the same positive direction with Zambia’s rating outcomes published by Moody’s, Fitch, and Standard and Poor’s.

Related to the risk factors cited by Quantum Global, Mrs. Mwanakatwe reaffirmed the Government’s commitment to the implementation of the Medium Term Debt Strategy and improvement of the domestic revenue base. She took the opportunity to restate Zambia’s commitment in meeting external debt obligations while remaining steadfast in dismantling the country’s domestic debt. The Minister added that the Treasury has developed a strategy for dismantling domestic arrears.

“To ensure that the confidence of our people and that of the international investment community in our capacity to guide the economy to greater heights is NOT eroded, we will continue with economic stabilisation, transformation, and growth reforms so that we position the country for increased solid economic performance by leveraging on our strategic geographical location, increasing foreign direct investment and improve the overall business environment,” stated Mrs. Mwanakatwe.

She added that, “we will do our best to build a strong private sector, create jobs, and grow wealth without leaving anyone behind.”

Through this initiative, Mrs. Mwanakatwe said, “the Ministry of Finance will ensure that the resources released are channeled towards paying-off contractors and suppliers in respective Ministries, Provinces, and Other Spending Agencies; to energise the economy, promote the growth of the private sector, create jobs and expand wealth.”

President Lungu to create six new districts

editor
-
26
President Lungu to create six new districts
Minister of Local Government Hon Vincent Mwale
Minister of Local Government Hon Vincent Mwale

President Edgar Lungu will soon announce the creation of 6 more new districts, Local Government Minister Vincent Mwale has disclosed.

Mr. Mwale said the President decided to create the districts to ensure delivery of services to the people are brought closer.

However, Mr. Mwale could not give details of the new districts saying the head of state will soon make an announcement to the people.

He stressed that the new districts will be a gift to the people of Zambia who expect their government to provide services to them at a closer range.

The Minister was speaking in Chisamba district today when he commissioned 8 newly constructed houses built at a cost of K2.8 million.

The Minister commended Chisamba Town Council for the initiative to construct houses from locally generated funds in addition to the local government equalisation funds it receives from government.

The minister called on other councils in the country to emulate Chisamba council and sounded a warning against abuse of resources in the council.

The council is expected to realise about K240, 000 annually as rentals from the newly constructed houses.

Speaking earlier, Council Chairperson Fred Choongo said the local authority disclosed that the housing project started in 2015.

Mr. Choongo said the council used locally generated funds and the local authority equalisation funds to build the 8 houses which were commissioned today.

He commended government for splitting Chisamba from Chibombo but appealed for more support in the area of infrastructure development.

Meanwhile Chief Chamuka thanked government for the support to Chisamba local authority.

The traditional leader noted that housing is very key to the development of the district as it will generate revenue for the council.

He said prudent usage of resource and unit of purpose has resulted in the housing units that have been commission.

The chief further appealed to government to give Chisamba district the rating authority in order for the district to collect revenue from properties within its area.

Zambia Rugby 7’s Team primed for Commonwealth debut

sports
-
4

Zambia 7’s Rugby Team star Terry Kayamba is relishing his side’s debut appearance at the 2018 Commonwealth Games that Australia is hosting on the Gold Coast from April 4-15.

Zambia will face highly rated New Zealand, Canada and Kenya in Group C .

Zambia kickoff their campaign on April 14 when they face New Zealand.
.
In an interview, Kayamba of Mufulira Leopards declared that Zambia will return a better side from the Commonwealth Games.

“We are happy to be the first Zambian rugby team to participate at the games. Being our first time there it will not be easy,” Kayamba said.

“But we will never come back the same from the games. Our standard of play will change as we will learn many things. The nation should just support us,” the ex-Diggers and KPF player said.

Meanwhile, local rugby icon Tom Chaloba is also excited that the nation will be fielding a rugby team for the first time at the Commonwealth Games.

“This is the time we should all come together as Zambians and rally behind our team. The experience to be gained from the tournament is immense and a learning curve,” he said.

PF says the Headlines in the Mast are Fake and based on Fake News

Chief Editor
-
28
PF says the Headlines in the Mast are Fake and based on Fake News

Fake headline, fake news in the Mast Newspaper

Lusaka, 4th April 2018 – While we do not expect the Mast Newspaper to withdraw its lead story in their edition for today, 4th April 2018, we expect a certain level of decency even from hostile media.

The Mast Newspaper, with intent to mislead the general public and thereby embarrass Hon Davies Mwila and Patriotic Front, runs with a fake screaming headline and story attributing it to PF Secretary General.

The Mast Newspaper is aware that the audio and words referred to were not of Hon Mwila but someone else yet they proceeded to run a story void of truth.

We demand that Mast Newspaper withdraws the said story and apologises to Hon Mwila in his capacity as Party Secretary General and the Patriotic Front at large. We want to believe there still resides some decency in the media house to acknowledge theirs was fake news and take responsibility for their own mess. We further wish the Mast Newspaper good luck in its endeavour to launder Mr. Fred M’membe especially after revealing information from Mr. Wynter Kabimba about homosexuality and atheism.

Lastly, we ask the general public to dismiss a statement attributed to NDC spokesperson Eric Chanda alleging that the ruling Party has paid K300,000 and bought a car for their Lusaka Province Chairperson Goodson Banda. We have no cause for going to such lengths and depths just to fish the NDC Provincial Chairperson. If at all Cde Banda is rejoining the PF as Cde Chanda alleges, it will be because the NDC is in dire want of a clear sense of direction. Things are falling apart, not just figuratively, in the NDC and any reasonable follower would have to think twice about staying.

Issued by:

Sunday Chanda
PF Media Director
Party Headquarters

Home Affairs Stephen Kampyongo’s Press Conference

Chief Editor
-
12
Home Affairs Stephen Kampyongo’s Press Conference

Socialist Party denies homosexuality link allegations as Government threatens to de-register the Party

Chief Editor
-
37
Socialist Party denies homosexuality link allegations as Government threatens to de-register the Party
Socialist Party interim General Secretary Cosmas Dr Musumali
Socialist Party interim General Secretary Cosmas Dr Musumali

The Socialist Party has described the allegations as false, baseless and shameful.

Rainbow Party leader Wynter Kabimba revealed on Tuesday that Fred M’membe and Dr Cosmas Musumali left the Rainbow Party to form the Socialist Party as they differed on sexual orientation and adherence to Christian values.

However, Cosmas Musumali, the party’s general secretary, said he and others did not give any reasons when they left the Rainbow Party and that the reasons given by Mr. Kabimba were untrue.

And Home Affairs Minister Steven Kampyongo has said that government will institute an investigation into revelations that the Fred M’membe led Socialist Party is entertaining homosexuality which is against the Laws of Zambia.

Mr Kampyongo has told a media briefing that if the revelations by Rainbow party leader Wynter Kabimba are found to be true, necessary action will be taken by law enforcement agencies.

“Investigations will be launched to establish whether there are some elements of truth and if it is found, the necessary action will be taken by law enforcement agencies,” he said.

Mr Kampyongo added that the action may also include de-registering the party.

Mr. Kampyongo said the issue of homosexuality in Zambia was not only a moral issue but the country’s laws do not allow such practices.

Same-sex relationships are illegal in Zambia, with those found guilty risking jail time of up to 14 years.

ZCCM IH loses its claim against FQM(updated)

Chief Editor
-
24
ZCCM IH loses its claim against FQM(updated)
ZCCH-IH
ZCCH-IH

First Quantum Minerals Ltd has reported that the legal proceedings between its subsidiary Kansanshi Mines and ZCCM Investment Holdings Plc has ended.

This was after the Arbitral Tribunal denied permission for ZCCM IH to proceed for failing to establish a prima facie case, thereby ending the arbitration.

The ruling followed the hearing of submissions from both sides over a three-day period in January 2018.

As a result of this ruling, ZCCM IH is liable for costs incurred with this proceeding.

ZCCM IH has since appealed the ruling which they allege is misconceived and meritless.

On March 7, 2018, the parties in the Statement of Claim filed in the Lusaka High Court mutually consented to a stay of proceedings.

The stay is pending resolution of an appeal by the Company and other named defendants of the Court’s decision to reserve judgment on the point that the claims were filed beyond the time.

Background

ZCCM-IH argued First Quantum took out a loan from Kansanshi at non-commercial interest rates and used it for company operations outside Zambia, disadvantaging ZCCM-IH as a 20 percent shareholder in the mine.

The claim by ZCCM-IH includes $228 million in interest on $2.3 billion of loans that it said First Quantum wrongly borrowed from Kansanshi Mine, as well as 20 percent of the principal amount, or $570 million.

In a November 11th 2016 filing in court, First Quantum said the claims were “inflammatory, vexatious and untrue,” and that the loans were at fair market rate.

First Quantum said that the action taken by ZCCM-IH was started without the approval of the ZCCM I-H board, which was dissolved when the action commenced.

ZCCM-IH, in which the Zambian government has a 77 percent stake, said in papers filed in the Lusaka High Court on Oct. 28, 2016 that First Quantum used the money as cheap financing for its other operations.

1...2,1332,1342,135...5,640Page 2,134 of 5,640

Company

Trending

Categories

© Lusaka Times