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Sale of the 20pc stake in Kansanshi is illegal

By Jackson Mapapayi 

FORUM for Democracy and Development (FDD) has said the sale of the Zambia Consolidated Copper Mine Investment Holding (ZCCM-IH) 20 percent shareholding in Kansanshi Mine PLC is illegal.

FDD National Secretary Nathan Mulonga said this is because Government has not followed the provisions of the constitution on disposing of assets.

Mr Mulonga who is also a Solwezi businessman said procedurally, both the acquisition and disposal of assets are matters that are supposed to be tabled before Parliament.

He stated that anything short of that, amounts to or creates an illegality.

“And this is what we are seeing with the sale of the 20 percent shareholding in Kansanshi Mine, its illegal,” said Mr Mulonga.

He said the matter has never been tabled before Parliament but that the executive has just bulldozed the decision.

“And if it is not well handled, people behind all this will be held accountable,” he said.

He wondered why government has opted to change from being a shareholder to a mere recipient of royalties.

He said the move entails that government will lose control of the asset as well as revenue adding that it is not appropriate to dispose off such an asset unless there are people with vested interest.

“But this is not the time to start losing assets such the Kansanshi Mine which has been very productive to an extent that it has financed the setting up of other mine  operations,” he said.

He has proposed that government should instead start thinking of increasing stake in such entities instead of losing control.

He has since appealed to President Hakainde Hichilema to seriously consider rescinding the decision.

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