Republican President Hakainde Hichilema says Konkola Copper Mines (KCM) is expected to pay debt owed to its creditors by this Monthend.
According to the President, officials from the mining firm must be ready to sign off the facility of 240 million dollars to pay more creditors money of up to a million dollars.
President Hichilema said this at State House during the swearing in ceremony of Nsandi Manza as an Accountant General at the Ministry of Finance and National Planning, Ringo Zulu, and Crusivia Hachikimba as Ministry of Commerce Permanent Secretary in-charge of Investment and Industrialization.
Recently, KCM official receiver Celine Nair, disclosed that the company, if not allowed to enter into negotiations with its creditors to enable it to service the debts over a period of time, may be wound up completely as the company’s finance deteriorated under the care of its former provisional liquidator Milingo Lungu.
By Darius Choonya