Decline Of Kwacha Has Nothing To Do With Covid-19, Haimbe Tells PF Vuvuzelas

United Party for National Development(UPND) Lusaka Central Aspiring Candidate Mulambo Haimbe says the declining of the strength of the Zambian Kwacha against the United States dollar has nothing to do with the global Covid-19 pandemic.

Counsel Mulambo Haimbe

And Mr Haimbe says it is unfortunate that the PF Government has failed to deal with the problems at Mopani Copper Mine(MCM) and resorted to revoke the licence to paralyze operations at the mining and consequently send most of the Zambians out of employment.

MCM CEO Nathan Bullock

Speaking when he appeared on Pan African Radio Programme dubbed “People’s Debate”, Mr Haimbe said the Covid-19 pandemic must not be used as an excuse for the declining   Kwacha currency, currently trading at over K19 per USD dollar.

He said the Kwacha started “divenosing” way before the first case of Covid-19 was reported.

“The Kwacha which is trading at K20 per dollar has nothing to do with the global situation Covid-19 has caused. No, no, no, it started way back and it is just getting exasperate  as we speak. Viyenda vinkalilako worse vintu(things are just getting worse in Zambia). Do you live in Zambia? Munkala mu Zambia? Yendani ku(go to) Bauleni Compound, Kulibe manzi, bantu sibakwanisa kugula unga (there is no water and people are failing to buy meali-meal …and you, you are saying that your Government is working. Don’t abuse this platform when you are given an opportunity,” Mr Haimbe said.

And the Zambian  lawyer of high calibre wondered why Government is thinking of revoking the license of Mopani Copper Mine, saying the move will condemn  many Zambians to unemployment.

“You are saying that the prices of copper have fallen on the international market (but) how can you think of taking away the Mining license (of Mopani Copper Mine) so that it does not operate completely. Is that the way you should think as a Government? You PF sympathisers, is that the way you should think development is brought about… by taking away people’s assets, by closing mines? No, that is not the way you react to situations…liquidating a company?Basically nationalising it? No, that is not the way you react to situations,” he emphasised.

Last week Glencore, a majority shareholder in Mopani Copper Mine announced the closure of lossmaking Mine for three months because of low commodity prices and the coronavirus pandemic.

That move  drew a furious response from Zambia’s mining minister Richard Musukwa, who slammed it as unjustified and illegal. Zambia has a large debt burden to service and earns most of its foreign exchange from copper exports.

In a letter dated April 14 to Mr Nathan Bullock,  Zambia’s Mining Licensing Committee said it planned to revoke the company’s operating permits for the Nkana and Mufulira mines in seven days unless it could show why they should not be cancelled.

Glencore owns 73.1 per cent of Mopani.

Meanwhile, Mr Haimbe took a swipe at PF vuvuzelas.

He said the reaction of PF sympathisers is not in the best interest of the Zambian people.
“As a person who supports the Patriotic Front, go back and reflect that you cannot have a situation where all fundamentals are declining and you lie to your leaders that they are doing fine by this so called infrastructure development…no sir, do justice by saying the correct thing when you are availed an opportunity to come on this platform,” Mr Haimbe said.

One Response to "Decline Of Kwacha Has Nothing To Do With Covid-19, Haimbe Tells PF Vuvuzelas"

  1. Albert   April 18, 2020 at 3:01 am

    This chap is using tribe to think