Zambia loses US$3bn an­nu­ally in il­licit min­eral sales

Daily Nation Newspaper - - HOME NEWS - By NA­TION RE­PORTER

ZAMBIA is los­ing over US$2.9 bil­lion ev­ery year on il­licit fi­nan­cial out­flows says Car­i­tas Zambia eco­nomic and jus­tice pro­gramme of­fi­cer Ed­mond Kanga­mun­hazi

Mr Kanga­mun­hazi said Zambia has been los­ing a lot of money in the min­ing sec­tor and most of the money was from the cop­per in­dus­try. He said most of the money that Zambia lost in the min­ing sec­tor ended up in Saudi Ara­bia, Korea, China and Pak­istan, adding that over the past 10 years Zambia lost about US$8.8 bil­lion. Speak­ing at a meeting on the pro­posed new min­ing tax regime and il­licit fi­nan­cial flows in Kitwe yes­ter­day, Mr Kanga­mun­hazi said there were about 2,115 reg­is­tered mines in Zambia but only 252 were pay­ing min­eral roy­al­ties. He ex­plained that the num­bers showed how much was be­ing lost and that ma­jor­ity of the li­cenced mines were min­ing for free, adding that the mines were rob­bing Zambia of its nat­u­ral re­sources. Mr Kanga­mun­hazi said it was sad that a coun­try that was blessed with nat­u­ral re­sources could have be in the same cat­e­gory with Haiti and Cen­tral African Re­pub­lic with high­est num­ber of mal­nour­ished peo­ple. And Pub­lish What You Pay Zambia Cop­per­belt chair Ger­ald Mutelo said Zambia was a rich coun­try with vast nat­u­ral re­sources which did not make sense for the coun­try to be in debts. Mr Mutelo also urged jour­nal­ists to high­light sto­ries on il­licit fi­nances so that the com­mu­nity could be made aware on how much the coun­try lost as well as ben­e­fits from the min­er­als. He said if civil so­ci­eties

it was sad that a coun­try that was blessed with nat­u­ral re­sources could have be in the same cat­e­gory with Haiti and Cen­tral African Re­pub­lic with high­est num­ber of mal­nour­ished peo­ple. — Mr Kanga­mun­hazi.

worked to­gether in de­mand­ing that the right things should be done Zambia could ben­e­fit sub­stan­tially from its re­sources.

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