Maravi

RP Capital submits preliminary report on evaluation of Zamtel

RP Capital submits preliminary report on evaluation of Zamtel
Written by Katwishi Bwalya
Tuesday, June 02, 2009 4:05:39 PM

RP Capital Partners of Cayman Islands has submitted a preliminary report to government on the evaluation of Zamtel assets, communications and transport deputy minister Mubika Mubika has disclosed.

Mubika, who described the report as good, said once the full report from RP Capital Partners of Cayman Islands is submitted, the government would then make a decision on the future of Zamtel.

“The report so far is very good. I can't disclose any thing [which is] in the report. They are still finalising, but I am sure we are going to have a true picture of the value of Zamtel. Yes, they are almost complete and genuine people are going to see why we engaged RP Capitals,” Mubika said when he appeared on Sunday's Government and You programme on Radio Phoenix.

Mubika said once a full report is submitted, the government would announce to the nation the true value of Zamtel. He said the intention to engage RP Capital Partners was good.

“The intention on Zamtel is very good. It's just a pity that there were some hidden agenda that some people were targeting but otherwise, my minister [Dora Siliya] was in the right directions,” he said.

“This company has assets all over the country; this is why we engaged RP Capital. What we want as government is to have the value of Zamtel so if it means partial privatisation or whatever we are able to decide, we are able to know the current price of the company so the workers should know that we don't want to make mistakes which other people have made before us because this is why we have been complaining about UBZ [United Bus Company]. We have so many companies which were sold for a song, even the mines. We made all those mistakes which came because we were selling without knowing the value, so even on Zamtel the intentions by my former minister was good. It was intended for the government to know the current value of Zamtel,” Mubika said the evaluation of Zamtel was in the interest of workers.

He, however, said the bad working culture by Zamtel workers had also contributed to the problems being faced by Zamtel.

He said whatever the outcome, the government would not lay off workers unnecessarily.

Labels: DAN GERTLER, MUBIKA MUBIKA, RP CAPITAL PARTNERS, ZAMTEL

posted by MrK @ 3:09 PM