Business Consultant Augustine Mubanga says the uncertainty surrounding the agreement between the Zambian government and Vedanta resources over Konkola Copper Mines-KCM-, has cast doubt on the investors’ promise to liquidate the $250 million owed to local businesses.
Mr. Mubanga, who is former president of the Association of Mine Suppliers and Contractors, says this has made it difficult to be confident that Vedanta will pay local firms while no formal agreement is in place.
He is of the view that a clear roadmap, with a timeline and commitment, should have already been in place but that the lack of a formal agreement leaves stakeholders at the mercy of the investor or until government and Vedanta sign the agreement.
And Centre for Trade Policy and Development -CTPD- Executive Director Isaac Mwaipopo has urged government to give a clear roadmap on its position with regard the agreement with Vedanta taking over KCM.
