Thu. Aug 22nd, 2019

President Lungu appoints a negotiating team for sale of kcm

President Edgar Chagwa Lungu has constituted a team to be led by Kantanshi Constituency Member of Parliament Anthony Mumba to be part of the Konkola Copper Mines negotiating team for the sale of KCM.

Mumba will be part of a team that comprises Government, some Members of Parliament, Union and Chamber of Commerce officials.

Minority shareholder, ZCCM-IH started the legal process to divorce Vedanta Holdings through a liquidation process.

The Court has since appointed a provisional liquidator, Milingo Lungu.

This is contained in a statement issued by State House on Sunday evening when President Lungu reshuffled his Cabinet and dropped the Minister of Finance, Margaret Mwanakatwe and appointed Dr. Bwalya Ngandu in her place.

Below is the full statement:

His Excellency Mr Edgar Chagwa Lungu Chagwa Lungu, President of the Republic of Zambia has appointed Bank of Zambia Deputy Govenor, Dr Bwalya Ng’andu as Finance Minister and nominated him to Parliament.
Meanwhile His Excellency the President has terminated the appointment of Hon. Margaret D. Mwanakatwe, MP, as Minister of Finance.
And his Excellency the President has revoked the nomination of Mrs Mumbi Phiri as Member of Parliament.
In a letter addressed to Dr N’gandu, dated 13th July, 2019, His Excellency the President writes, “ IN EXERCISE of the powers vested in me under Article 69(1) of the Constitution of Zambia, I hereby nominate you as Member of Parliament and subsequently appoint you as Minister in the Ministry of Finance, pursuant to Article 116(1) and (2) of the Constitution of Zambia. The appointment is with immediate effect.”
Dr N’gandu will be sworn in tomorrow at 9:00 hours.
In a letter addressed to Hon. Mwanakatwe, the President thanked the Lusaka Central Member of Parliament for services rendered to the Government of the Republic of Zambia and wished her well in her future endeavours.
“ IN EXERCISE of powers vested in me under the provisions of Article 92 (2) (e) read with Article 270 of the Constitution of the Republic of Zambia and Section 26 of the interpretation of the General Provisions Act CAP 2 of the Laws of Zambia, I hereby terminate your appointment as Minister of Finance,” the letter from His Excellency the President, dated 13th July, 2019 to Mrs Mwanakatwe reads.

In a letter to Mrs Phiri, dated 13th July, 2019, “ the President writes that he has revoked her nomination as Member of Parliament with immediate effect.

And His Execellency the President Lungu has constituted a team to of Members of Parliament to be led by Kantanshi Member of Parliament Anthony Mumba to be part of the Konkola Copper Mines negotiating team that already comprises Government officials.
President Lungu says he wants transparency in the process and the team will also include unions and chambers of commerce.

Leave a Reply

Your email address will not be published. Required fields are marked *

shares