HH PANAMA SAGA

Fri, 08 Dec 2017 08:51:19 +0000

By Aaron Chiyanzo

A forensic audit should be carried out to determine how Mr Hakainde Hichilema, entrusted with disposing of state companies, sold Intercontinental Hotel in Livingstone to Sun International Hotel and how he together with Senior Chief Mukuni ended up as shareholders in the same company that is now registered in a tax haven, Panama, ZRP leader Wright Musoma has demanded.

Mr Musoma says the public deserves to know how this hotel which was owned by the State was basically sold by HH to himself and his friends at a dismal amount of $5.65 million when there were higher bids.

Mr Musoma said authorities should thoroughly investigate how the UPND leader, Mr Hichilema, who was the negotiating chairman in the privatisation of Intercontinental in Livingstone is now a shareholder in Sun International Hotel which finally bought the company.

The privatisation documents for Intercontinental Hotel indicate that Sun International of South Africa, with a bid of US$5.65 million for the hotel was the lowest bidder even if it was offered the deal.

The transaction document states that Victoria Falls Travel Bureau, a private company incorporated in Zambia bid US$20 million but was sidelined.

Mr Musoma said it was immoral and worrying to discover that a company that once operated locally was now to all intents and purposes operating in a tax haven just to avoid paying tax.

A check with the Patents and Companies Registration Agency (PACRA) indicates that Mr Hichilema and Senior Chief Mukuni are among the company directors for Sun International Hotel in Livingstone.

Mr Musoma however questioned how Mr Hichilema, who was the chairman of the privatisation of the hotel was among the shareholders for the buyer.

Meanwhile, Mr Musoma said that investigative wings should also probe transactions in the privatisation of mines and other parastatals.