Notable people who handled privatisation in Zambia

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Valentine Chitalu

Valentine Chitalu

Francis Kaunda (left)

Francis Kaunda (left)

The chief executive of ZPA, Valentine Chitalu, he was also a Director of ZCCM. Mr. Willa Mung’omba, a member of the ZCCM Privatisation Negotiating Team, was also Director of ZCCM

Francis Kaunda,the chairman of the ZCCM negotiating team who was appointed over the heads of the ZPA Members, was also former chairman and chief executive of ZCCM.

Ronald Penza

Ronald Penza



Mr Abel Mukandawire was chairman ZPA.

Mr Luke Mwananshiku

Mr Edward Shamutete

Mr Kaunda Lembalemba – Minister of Mines

Mr Enoch Kavindele – Minister of Commerce

Mr R Penza – Minister of Finance

Mr Lewis Preston – Former president of World Bank

Mr Bwalya Ngandu ZIC 1998 Budget Speech on privatization (this is to show Zambian people that it was not only HH who bought shares) I quote Mr. Speaker, Sir, it is encouraging to note that by now there are approximately 6,000 Zambians who have invested in our stock market. This goes to show how well the public is responding to Government’s liberalisation and investment policies, and with how much foresight the Government had moved to establish the Lusaka Stock Exchange. [Ronald Penza, Minister for Finance, Budget Speech 1998]

The only few MPs who were brave enough to criticize the might mafias of the MMD govt was Mr Bob Sichinga Isoka east independent MP and Mr Akashambatwa Mbikusita-Lewanika Agenda for Change president, Mr Sebastian Zulu Veep in UNIP.


Any member of the ZPA, or consultant to the ZPA, and their immediate families and professional partners are required to disclose any conflict of interest. However, this disclosure is not made publicly but to the Director of the ZPA who has total discretion in deciding what action (if any) is appropriate in each case.

Those responsible for the implementation of the Privatisation Programme may not participate in the programme except through public share offerings.Political leaders and public officers are required to publicly disclose their intention to bid for shares in a State owned enterprise, except in the case of public flotation.

The ZCCM privatisation – by far the most important of Zambia’s parastatals – is one notable exception.Negotiations over the sale were being led by the international merchant bank, N.M. Rothschild until, at the end of March 1997, Mr. Francis Kaunda was appointed by the President, rather than by the ZPA board, to head the ZCCM Privatisation Negotiating Team. This directly breached the act. I have researched and researched l can’t find the name HH mentioned any where for doing any wrong. l am appealing from those falsely accusing him to kindly share the evidence to the contrary.

The Auditor General of Zambia also audited the privatisation process and the reports are available for public consumption. The only mention you will get in those reports of any linkage to HH is the FACT that the firm of consultants he was WORKING for was engaged to value the companies and recommend to government.

The most irritating observation by these reports is that the government in most cases ignored the professional advice and sold the companies for a fraction of what the valuers recommended. Even a company like UBZ which was financially sound, was liquidated against the recommendation not to sale it as it had more assets than liabilities!


35 Responses to Notable people who handled privatisation in Zambia

  1. well done..thanx for shedding light ..

    wako ni wako
    May 9, 2016 at 9:06 am

    • Well done for the enlightenment, but Zambians do not like facts that make them fools of what they want to believe. For lack of evidence and hate of hardworking compatriots anything demonizing them goes for gospel truth. The HH case is one rooted in hate and envy for his successes typical of poverty stricken third world developing countries. In the developed world there are young people who are billionaires and are celebrated something unheard of in countries like Zambia. Its good that HH is not on record of available reports but the firm he worked for yet small minds are zeroing in on him as the maverick that sold the mines for a song!

      May 9, 2016 at 10:49 pm

      • My advice generally is that ignore the doomsayers and always think out of the box.

        The Zambian psyche is of over dependency on Government for jobs and livelihoods. It is not helped by the ubiquitous career politicians who are unable to survive away from politics.

        Cha Cha Cha
        May 10, 2016 at 2:11 pm

    • Is any of these people mentioned worse than the supreme visionless number one in the nation?

      May 10, 2016 at 7:17 am

  2. Mukose bakabolala

    May 9, 2016 at 9:09 am

  3. What about Teddy Mulonga and the like MMD ‘founder’members,did they critisize this reckless privatisation?Aka the real MMD Founder member did.The Mulonga type were only interested in their bellies and Convention to ascertain their positions in the Party hierachy.

    MMD Obsever
    May 9, 2016 at 9:23 am

  4. This account has false information.UBZ was a terrible shell when it was sold.Ir had carryover liabilities among them debts for DUBRAVA buses bought from a YUgoslavia company.
    I travelled to on UBZ. in 1991

    Truth Seeker
    May 9, 2016 at 9:24 am

    • outdated stories

      May 9, 2016 at 1:45 pm

  5. You docile Zambians!!!!! Where were you when all these sales were being done?

    May 9, 2016 at 9:34 am

    • just keep quiet you run away thug

      May 9, 2016 at 1:47 pm

      • Umuntu has a point and you have failed to counter it. maybe you are the one to keep quiet

        May 9, 2016 at 3:29 pm

  6. You leave out Mr. Francis Mbewe, Coordinator of World Bank Programs on behalf of the Government of Zambia, Mr. George T. Sikazwe Procurement and Disbursement Officer of the World Bank, Professor Benjamin Mweene, Former Secretary to the Treasury, Mr. Teddy Mulonga, Director General ZNTB.

    May 9, 2016 at 9:47 am

  7. What PF should is to reposes the existing companies since they claim they can handle them better…And why today,3 months before elections? Can the government give us a road map on this sensitive matter? Corruption is always exposed when a government leaves power…Even when ECL leaves,nangu nimu 2021… he will be exposed…

    May 9, 2016 at 10:06 am

    • just move on. why waste time on dead horse. its only experts who benefit during such exercises. look at zamtel pumping in again nation resource, during anti corruption- sitting allowances no serious jail sentences. no need move on

      May 9, 2016 at 1:54 pm

  8. Of all these people, they want only HH to account when he was just an employee of a valuing firm unlike these big guys who were actually representing government and making decisions. Do these people accusing HH realise that he (HH) was not a powerful person compared to all these other names? Power was in the hands of all these other names and tribes if you like except for Shamutete (Ila or Lenje) then ati a simple Tonga is the one who privatised the mines and other companies.

    HH Akasolva
    May 9, 2016 at 10:53 am

    • He is seeking the presidency – how many of the people mentioned seek the presidency right now?

      May 9, 2016 at 7:41 pm

      • Should you wrongly implicate someone just because he is seeking the presidency? Think before opening your mouth only to put your foot into it.ECL was prosecuted for stealing from a client he was representing and was found guilty in court, but you gave him the presidency. So if you have evidence against HH why not take him to court rather than painting an innocent person black without facts?

        May 10, 2016 at 12:22 pm

  9. Only foolish people will continue using this privatisation shameful slogan against the industrious HH. We will vote for him because he is good analyser of our economy. Change with a vision.

    May 9, 2016 at 12:27 pm

  10. Very vital facts presented.Thank you.however, its again sad that we who are the lettered have polarised approaches and skewed agendas. We owe it to this Great Nation an objective analyses of issues broadly,and far reachingly affecting us; to refuse to be pawns in a game. A game whose rules the affluent have designed.
    Nathan Rothschild, a wealthy heir to the Banker Mayer A. Rothschild. Nathan Rothschild, through deceit and Cunning fooled Britain into selling its wealth for a song.(Read History of the Battle of Waterloo). These are sorts of individuals we entrusted with brokering our Country’s issues. We were fooled once. It will be unforgivable to break bread with one who sales your inheritance. We may never reclaim our lost glory, but we should never at any time trade our dignity and honor.

    The Rothschild dynasty, for those who may not know, are deep into Masonic occultism. This fact casts a shadow on all who had dealing with them. Their hands are tainted.

    Does this make an inebriate leader look good, maybe to a fool it does. But not to a people who know the painful cost of the freedom our parents fought for, and died for!

    I urge you dear brothers and sisters, to think independently; uncoerced, without fear or malice. Your sons and daughters enslaved to debt, heathen religions,immorality, drunkeness and debauchery? There is more to politics than HH, than ECL, than NM etc.
    May the Spirit of the Sovereign God guide you. Do the right thing. May He raise a moral leader among us.

    May 9, 2016 at 12:33 pm

  11. This will shame some PF magots fond of accusing HH.

    The truth has been laid bare for all shameless PF magots to see.

    VIVA HH and UPND.

    May 9, 2016 at 12:44 pm

  12. so these were hh bedfellows

    May 9, 2016 at 1:43 pm

    • Getrude, I am amazed your poor memory! HH also bedded you, how do you so quickly forget he was your bedfellow? You chi prostitute!

      Common Criminal
      May 10, 2016 at 6:32 pm

  13. Iwe ci Bowman Lusambo what have you got to say now! I used to respect this f00l not knowing that he is such a dull moron! Get this in your thick skull! HH was a small boy that time (just an employee of the evaluators) but ci Bowman speaks as if HH sold all the companies and pocketed the money! Uli cipuba! Go back to school if you can’t comprehend simple issues!

    May 9, 2016 at 4:04 pm

  14. The behaviour of most PF cadres who like commenting on things that are readily available in black and white to read do not have sufficient time to read but manufacturing unfounded stories that can’t be substantiated. People we hold in high esteem are the ones who are useless and senseless. it’s appalling to hear a politically motivated cadre in the name of a minister speak trash all the time. we will hear how many kickbacks they get get at every contract for road or any other construction and how that has affected our country.

    May 9, 2016 at 4:57 pm

  15. By voting out UNIP all Zambians were involved in privatisation…

    May 9, 2016 at 6:47 pm

  16. Imbwa zabanthu including HH the surviving maggot who wants to continue selling the country

    mj banda
    May 9, 2016 at 7:15 pm

    • Boss if you don’t have any knowledge about the subject matter better you keep quiet rather than express your ignorance in public. not everyone is as ignorant as you, we are educated enough to know who did what. don’t blackmail us just because of your blind support for pf. just admin things are not alright and there’s need to change government. HH did not sale anything why is he still moving freely? We all know thieves belong…jail of course!

      May 10, 2016 at 12:14 pm

  17. UUUuuuuuuuuu There we are, ladies and gentlemen and children.
    Those are the facts.

    Now can someone given a glimpse of the state of affairs of the companies sold or privatised????

    These companies were on the death bed.
    Can someone neutral tell the story of Luanshya mine and even Konkola?
    Did you know that the government was spending millions of Dollars to keep them going and it was becoming unsustainable?

    You want to buy back the companies and go back to the status quo before privatisation?

    You can only be described as either ignorant or crazy.

    Who tells you that the government is the best investment agency?

    Even PF does not agree with you there. Even Kabimba may not agree with you.

    Leadership is a serious matter
    May 10, 2016 at 5:18 am

  18. Please continue highlighting the truth.

    UPND should not go to bed over the accusations against HH.

    The accusations are lies being used as a campaign strategy to take away votes from HH on the Copperbelt.
    People like Bob Sichinga, Dr Musokotwane, Magande etc should not keep quiet over the issues of privatisation.

    There is no need to apologise for privatisation. Zambia had no choice. Where is the Economics Association of Zambia? Ask people with knowledge to do a paper on the state of parastatals prior to privatisation and do a comparison with post-privatisation performance of these companies and the overall economy.

    Please do justice to Zambians so that people can make decisions based on truth and not malicious allegations by party cadres. UPND should invest in this conscienntisation effort. It is not for the benefit of HH alone but for all Zambians who respect truth and integrity as a value.

    Leadership is a serious matter
    May 10, 2016 at 5:29 am

    • Things were bad back then. We should to have beer with sediments and was always in short supply, like everything else. Zambia now is SADC’s bread basket.

      Privatization was good for Zambia.

      Cha Cha Cha
      May 10, 2016 at 2:26 pm

  19. Pull him down syndrome…. akale baletila paul ngozi napanda, imbi inshita baletila PK napanda. umuntu nga abombesha awina ati ni free mason (wa kwashonongo)..mwembwa mwe. don’t you know where to find Valentine Chitalu? we used to watch him every night at deadnbc talking about privatisation. Talk of Francis Kaunda, Kaunda Lembalemba not forgetting about Micheal Sata himself (MHSRIP)Minister without portifolio, they all knew what was happening. why didn’t you ask them? Take it or leave it, hate it or love it, HH is our incoming president. Hang yourself if you are not happy

    May 10, 2016 at 11:29 am

  20. what is the meaning of this article? Fine, tell us HH’s financial position before ZPA and immediately after ZPA.

    May 10, 2016 at 12:05 pm

    • PHD syndrome… how many years and governments have past for you to start asking that now? Signs of jealous people

      May 10, 2016 at 12:25 pm

  21. now chi mumbi phiri pf deputy secretary general what can say about this. ati hh ewa shitishe ama maini wanya we are voting hh on 11th august and upnd

    Big Nose
    May 10, 2016 at 4:43 pm

  22. Which tribe is the dullest and corrupt in Zambia

    June 26, 2016 at 11:09 am

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