Musokotwane ducks Mopani questions

…passes buck to Haimbe, dismisses assertions that the US$45 million not for Lazard but creditors

AS the controversy surrounding the ´illegal´ transfer of 51percent shares of Mopani Copper Mine (MCP) rages on, Finance Minister Dr Situmbeko Musokotwane has refused to be dragged into the transaction, refereeing all queries to Justice Minister Mulambo Haimbe.

When asked about the Mopani transaction that has seen government offloading 51 percent Mopani shares to the Dubai-based International Resource Holdings during a live Radio Phoenix interview, Dr Musokotwane instead requested that all queries should be referred Mr Haimbe.

Dr Musokotwane said; “Ask the Justice Minister because all I know is that instead of the government paying Glencore (former majority owners of MCM) about $1.7 billion we found a partner that has paid Glencore just under $600 million which I think is better than $1.7 billion they were claiming for their investment in the mine.”

Dr Musokotwane has joined the fast-growing que of government officials that are unclear on whether Zambia has illegally sold a lucrative 51 percent stake in a key state asset or not.

Paul Kabuswe, the Mines Minister along with his Commerce Minister counterpart, Chipoka

Mulenga and Thabo Kawana, a permanent secretary at the Ministry of Information and Media have all failed to categorically state whether Mr Hichilema´s government has illegally pawned MCM 51percent shares or not, with all of them are giving contradictory statements.

The most difficult word for the officials to use has been “sold” 51 percent shares, which would be contrary to Article 210 of the laws of Zambia that requires parliament to give consent to selling a state asset only after the transaction is approved by two thirds majority in the House which has not happened.

And Dr Musokotwane has refuted assertions that the Hichilema administration would pay the French company Lazard US$45 million to help restructure the nation’s debt compared to the US$5 million the Edgar Lungu government had agreed to pay at the time.

Dr Musokotwane has describing the story as false.

Yesterday, former Foreign Affairs Minister Harry Kalaba and former Finance Minister Edith Nawakwi separately branded the sale of 51 percent shares in MCM by government as illegal and that soon, rather than later, those involved in the transaction shall be made to account for the crime.