ILLEGAL SALE OF MOPANI SHARES- A RECKLESS UPND VIOLATION OF CONSTITUTIONAL PROVISIONS
ILLEGAL SALE OF MOPANI SHARES- A RECKLESS UPND VIOLATION OF CONSTITUTIONAL PROVISIONS
27th March, 2024
In a disturbing display of impunity, President Hakainde Hichilema and his UPND regime have violated the law by selling 51% of Mopani shares to a 2022 registered entity without following the mandatory process.
As stipulated by Article 210 of the Zambian Republican Constitution, any such sale must be tabled before parliament for a vote, requiring a two-thirds majority in favor.
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 cash-flows from Mopani operations as it was in the case of KCM’s Vedanta.
We believe, as the United Kwacha Alliance, UKA 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 organized plunder of National assets.
UKA would like to warn 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 our democracy.
There’s 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 Governments actions on Mopani and rectify this flagrant violation.
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 favor and ask our people to hold us to the same standard.
Jackson Silavwe
Chairperson Communications
United Kwacha Alliance
(UKA)