• This is a testament that new investments mean well in empowering the citizens.
• The payment represents a carry-over of obligations from 2021 from Mopani.
• This further demonstrates that Government’s choice of an investor for Mopani is most excellent.

Minister of Local Government says Mopani Copper Mine’s decision to offset K87 million it owed Kitwe City Council is a testament that new investments including those already established in the country, mean well in empowering the citizens.

Gary Nkombo said by paying such an amount at once, the Local Authority was also empowered to clear its outstanding terminal benefits worth over K8.7 million to 53 employees who retired in 2023.

Mr. Nkombo noted with gratitude that various Local Authorities have started drawing financial benefits from new investments being established in many parts of the country.

“The payment represents a carry-over of obligations from 2021 from Mopani, where International Resources Holdings (IRH) of Abu Dhabi recently completed a US$1.1 billion investment to secure a 51% interests in Mopani by way of a strategic partnership the ZCCM Investments Holdings Plc.”

“Clearly, in no uncertain terms, the Ministry is excited with Mopani’s decision. This further demonstrates that Government’s choice of an investor for Mopani is most excellent,” Mr. Nkombo stated.

He also commended Kitwe City Council’s practical decision to clear the terminal benefits as doing so is financially empowering its former employees.

Mr. Nkombo added that such a proactive action by the Local Authority is a step in the right direction in fulfilling the Government’s position to prioritise payment of retires.

“Investors should continue supporting Local Authorities because any payment made is also critical for Local Authorities in settling statutory obligations to among other institutions National Pension Scheme Authority, and the Zambia Revenue Authority,” he added.

Recently, Mopani Copper Mine cleared the K87 million it owed Kitwe City Council and the local authority spent K8.7 million to clear outstanding terminal benefits owed to 53 employees who retired in 2023.