By BUUMBA CHIMBULUGOVERNMENT should raise the shareholding level and compel foreign investors to partners with locals as they set up an investment in Zambia.The state should raise the shareholding at least 45 percent to ensure that wealth remains in the country.This is according to the Federation of Small Scale Mining Associated of Zambia (FSSMAZ) president, Joseph Mwansa.Pastor Mwansa stressed the need for Government to raise the percentage shareholding to at least 40 to 45 percent from the current 25 percent.He indicated that the current 25 percent too low as most foreign investors took advantage of the situation to armtwist Government.He cited the development at Konkola Copper Mine (KCM) and Mopani to be among companies taking advantage of the low shareholding by locals.“The behaviour of KCM and Mopani is a lesson to us as Zambians, whenever these companies make huge profits they start treating us in unacceptable manner. A good mining policy will help us sustain […]
‘Raise shareholding levels for locals’
