ILLEGAL SALE OF MOPANI SHARES RECKLESS - UKA

PRESIDENT Hakainde Hichilema and his administration have violated the law by selling 51 percent of Mopani shares to a 2022 registered entity without following the mandatory process, says United Kwacha Alliance (UKA) Communications Chairperson, Jackson Silavwe.

Mr Silavwe said as stipulated by Article 210 of the Zambian Constitution, any such sale must be tabled before parliament for a vote, requiring a two-thirds majority in favour.

Mr Silavwe who is also Golden Party Zambia president, said this blatant disregard for the Constitutional protocols on national assets disposal raises serious concerns about Mr Hichilema and his government’s commitment to upholding the rule of law.

“Additionally, it is clear that this investor will not bring in any ‘new’ external funding but will be paying for this asset using cashflows from Mopani operations as it was in the case of KCM’s Vedanta.

“We believe, as the United Kwacha Alliance, that there was no need to sell 51 percent in Mopani to a company with no traceable mining history. The whole Mopani deal smacks of white-collar organised plunder of national assets,” he said. Mr Silavwe warned President Hichilema that the law is not to be circumvented or flouted for personal or political gain, as this sets a dangerous precedent that undermines the very fabric of democracy.

“There is no doubt that in future, this irregularly acquired national asset, Mopani Copper Mines shall be repossessed without recompense and both President Hichilema and the investor will be prosecuted.

“We urge our citizens, to demand for accountability from the new dawn administration. President Hichilema must take responsibility for his Government’s actions on Mopani and rectify this flagrant violation,” he said.

Mr Silavwe said: “UKA is resolved to uphold the tenets of democracy; accountability, transparency and respect for the rule of law.

And in our quest to doing so we shall speak on all national issues without fear or favour and ask our people to hold us to the same standard.”