When Additional mathematics is correctly wrong

Jack Kalala’s thinking, “In terms of cash consideration, in addition to the US $25 million paid by Vedanta in 2005, Anglo-American Corporation had paid US $20 million to the Zambian Government as compensation in 2002 for abandoning the mines while the World Bank also paid US $20 million in 2005. Therefore, the total amount realized from the resale of KCM was US $65 million unlike the 1998 sale of US $25 million”
Yaba! Awe, uku kupendenkanya insamushi! This is not how you arrive at the sale price. KCM was sold in 2004 at $25million to Vendata Period. You can’t add $20million exit amount by Anglo paid in 2002 as part of the sale! WB’s amount of $20 million paid to GRZ can’t be lumped together with Vendata purchase and claim “The amount realised from the resale of KCM was US$65 million unlike the 1998 sale of US $25 million”! The more reason we cannot add the $25million earlier paid in 1998! Uku kutobela kumo na Example in Additional Mathematics. Abacus yakana! It can’t. Lol

Published by Kemman

Regulatory and Independent Consulting Professional with expertise in Financial Crime Risk Compliance encompassing Anti-Money Laundering (AML), Countering Terrorism Financing (CTF), Anti-Bribery & Corruption (ABC – FCPA & UKAB), Global Trade & Sanctions, Bank Secrecy Act (BSA), Know Your Customer (KYC) and Customer Due Diligence (CDD), Internal Audit Testing, Reviews, Validation, Risk Assessment. Worked in Asia, Africa, Europe, the Middle East, North America (USA). Banking & FinTech, Anti-Sex & Human Trafficking Advocate, FOREX & Cryptocurrency trading, Travel & Tours, Telecommunications & Energy.

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