Thu, 22 Feb 2018 08:25:21 +0000 CEC: a superfluous broker making easy money from ZESCO Dear Editor, I fully concur with reservations voiced by a UNZA don over the planned takeover of Copperbelt Energy Corporation (CEC) by a group of foreign investors. UNZA director-graduate School of Business Lubinda Haabazoka is right to state that that the move is not only ill-conceived, but will have negative economic repercussions as it will result in enormous capital flight. True, when foreigners take over CEC, all the profits will leave Zambia at an unbelievable speed since the company is not a loss making entity. Is this what Zambia wants in her desire to develop economically? There is another issue. The new owners may just throw away CEC recently announced expansion programme into dust bin for as long as they can get their money from the current arrangement. That is possible. Like Dr Haabazoka has correctly observed, it would be […]
