United Party for National Development president Hakainde Hichilema admits having undervalued the mines during the privatization but says he was merely acting as a businessman and a professional who rendered a professional service in a competitively tendered process.
Featuring on Millennium Radio’s The Interview programme, the UPND leader who has often had a tough time to explain the role he played in the privatization of the mines that were sold for a song and how he benefitted heavily by becoming one of Zambia’s richest just after the privatization process said it was his hope that his explanation will put the matter to rest.
“First of all let us get one thing clear, I have never privatized any mine, the issue is Coopers and Lybrand which I owned and later became Grant Thornton tendered to value the mines like many other institutions. It was a professional service we were rendering,” he said.
“Other people provided legal services like Mr Chipimo (Elias), some provided corporate services as professionals skilled in these fields. Is anyone going to blame us for providing a professional service ?
Meanwhile in responding to Mr Hichilema, a contributor under the name Mwenya Joe Mumba posted this;
HH seems to be shooting in his own foot by saying he “rendered professional service” of valuating mines. From my little understanding, the selling price is based on the valuation exercise and recommendation to the selling agent in this case the govt of that day. So it was incompetent and stupid of HH and company to have put low value on our mines. In other words he recommended how much worthy were our mines and u call yourself a professional. Accept responsibility because u misled the then govt and now we have this Indian boasting because of you. Shame on u and u got a lion’s share due to selfishness. May God be your judge as we watch
HH and company should come out clean by exposing the then govt on how much they valued the mines. Then we shall know who is a liar between the two. U know its interesting that even Chipimo is also mentioned the guys are very quiet. The govt was not stupid to have used Zambians to do the valuation or rather provide those “professional services” bukabwalala fye and chipimo ati legal services. Can we a hear any reactions to the Indian’s boasting from these so called Zambian professionals? I’ll repeat HH was stupid and selfish. Period. Let him not even mention others but state how much he valuated the mines for them to have been sold at a giveaway price!!