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
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Published by Kemman
Financial Crime Compliance (FCC) professional. Banking & FinTech, Anti-Money Laundering (AML) & Counter-Terrorism Financing, Nuclear Terrorism & Counter-Insurgency (CTF), Anti-Sex & Human Trafficking Advocate, FOREX & Cryptos, Travel & Tours, Telecommunications & Energy, Member of the World Advisory Council Association of Certified Fraud Examiners-ACFE. Presenter at International Conferences-ACAMS&ACFE. Certified Fraud Examiner-CFE. Certified Anti-Money Laundering Specialist-CAMS. Certified Anti-Bribery and Corruption-ABC. Founder member of Institute of Directors (IoD) Zambia Chapter. Founder - Managerial Accountability & Transparency. Two-term of two years Chairperson of the Bankers Association of Zambia Fraud Prevention and Security Committee. SADC and COMESA Consultant on Crime & Corruption Prevention & Management Strategies. Former Area Head for Southern & East Africa (International Banks). Trainer of trainers & core facilitator. Corporate Governance, capacity building, Institutional & Organizational development, business process re-engineering. Technical expertise is coupled with excellent interpersonal, team building, communication, and presentation skills. Father & Coach, Entrepreneur & Author
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