Business and Financial Analyst Blessings Kafwanka has questioned the insistence by Vedanta Resources to stick to an asset that it claims has been a loss-making business.
Sharing his views on Vedanta saga in a Facebook post, Mr. Kafwanka said it is strange that the investor has hired the most expensive lawyers in Zambia and has taken the Zambian Government to a South African court in a move to stick to an asset they claim has been giving them losses.
Here is what he wrote on Facebook…..
“Its interesting how Vedanta has gone as far as engaging one of Zambia’s finest lawyers and arguably one of the most expensive. They have even gone as far as taking the matter to a South African court.
All that effort just to safeguard a perpetual loss making asset? An asset with very high operational costs? An asset that is, in their opinion, located in a country with the worst mining tax regime?
Isn’t government takeover a blessing in disguise for them?
I do not fully subscribe to the modus operandi that government is using to resolve the KCM conundrum. But the action by Vedanta tickles my fancy.”