Power and Politics

PEP leader, Tembo, blames KCM provisional liquidator, Nair, for firm’s dwindling fortunes


The leader of Patriots for Economic Progress (PEP), Sean Tembo, has urged security agencies to investigate Konkola Copper Mines (KCM) Provisional Liquidator, Celine Nair, for alleged mismanagement of resources.

Tembo expressed concern that since Nair assumed control of KCM’s operations in May 2022, the financial situation at the mining firm had deteriorated.

Despite favorable trading conditions for copper in the world market, with prices reaching an all-time high of US$11,000 per metric tonne, Tembo claimed that KCM had struggled to pay May 2024 salaries for employees on time and that its total debt to suppliers had more than doubled in recent years.

“This desperate financial situation at KCM contradicts the supposed good fortunes of copper on the world market,” Tembo alleged.

Read More: Govt claims it has done much to improve wellbeing of Zambians, dismisses reported rantings by opposition

He called on government agencies, including the Auditor General, Drug Enforcement Commission and Anti-Corruption Commission, to investigate the apparent discrepancy and uncover the truth.

Tembo said that corruption should not be overlooked, regardless of whether it involved members of the previous or current regime.

“If the Zambian people are to take the government’s fight against corruption seriously, the government must investigate incidents of suspected corruption perpetrated by members of the current regime,” Tembo advised.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.

Govt finalises Artificial Intelligence (AI) strategy, set to launch in two months

Previous article

Zambia, Djibouti pledge to deepen bilateral relations for mutual economic benefits

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *