“The elusive assets of President Hichilema have created whispers raising genuine fears about the President shunning accountability questions.” – Dr. Lawrence Mwelwa.
By Mpandashalo Mwewa | Chief Editor.
Lusaka, July 21 – Imagine President Hakainde Hichilema reading about a Zambian linked to the previous regime, the purported corrupt Patriotic Front Government, investing $40m outside Zambia. There would be a special session of Parliament.
Yes, Super Group, a global logistics and mobility group chaired by Mr. Hichilema’s partner, Valentine Chitalu, has successfully acquired a 78.82% stake in UK-based logistics firm CBW Group Holdings.
As a proud Zambian, I am very happy about this news because it is certainly more money in the pockets of an ordinary child in rural Zambia. It’s my hope that President Hakainde Hichilema will not be investigated over his dealings with Valentine Chitalu when he leaves office. We must promote wealth creation by Zambians if we want to develop Zambia.
Also Read: Zambia can only be developed by Zambians!
The acquisition, executed through Super Group’s wholly-owned UK subsidiary, SG International Holdings Limited, was completed for a total consideration of $39.2 million in cash, with no deferred considerations.
CBW Group Holdings, which trades as Amco, generated impressive financial results in the twelve months ending on June 30, 2023, with earnings before interest, tax, depreciation, and amortization (EBITDA) of $11.9 million, profit before tax of $10.8 million, and profit after tax of $8.6 million.
Super Group, which operates supply chain, fleet, and dealership operations across Sub-Saharan Africa, the UK, Europe, and Australasia, is diversifying its income base and mitigating geographical risk.
Amco caters to over 250 active customers in various manufacturing sectors, including automotive, telecommunications, retail, construction, mining, and FMCG (Fast Moving Consumer Goods).
Should we not be celebrating such news, signifying the expansion of the greatness of a Zambian mind? You do not make your candle shine any brighter by blowing off that of your opponent.
While some of us may feel this way about our country, celebrating such achievements, Mr. Hichilema does not agree. He sees wealth creation by his perceived political opponents and their associates as grand corruption. But what’s raising people’s eyebrows is his deafening silence on his asset declaration.
“Could it be that President Hichilema, in his intelligence, is avoiding the revealing of his assets? After all, his private residence, the Community House, has suddenly become his official residence. Rumours circulated that state funds were used to make it suitable and habitable for a sitting President,” reads, in part, Dr. Lawrence Mwelwa’s article entitled, “The elusive assets of President Hichilema”.
Also Read: The elusive assets of President Hichilema.
Dr. Mwelwa, in his viral article wonders whether the President is shunning accountability questions by withholding his assets.
“He knows that once the declarations are made public, the murmurs would turn into a deafening roar. The citizens can’t help but wonder if their hard-earned money is being used to increase the value of his private residence.”
Put differently, the politics of President Hichilema is not just retrogressive but toxic and must be condemned by all well meaning Zambians, patriots who share our beliefs and principles that development must be driven by Zambians through policies that seek to systematically monetise our local resources. We need a radical change of mindset to develop Zambia.
In a world where vows are worthless, where making a pledge means nothing, where promises are made to be broken, it would be nice to see words of a statesman come back into State House.
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