Kuvimba declares US$5.2m in dividend. How in the world of the living, this is a good thing is beyond me. Perhaps a reflection of our tolerance for pain & suffering as a people.
Firstly, it's not even clear to the tax payer how these assets were acquired and at what cost
Firstly, it's not even clear to the tax payer how these assets were acquired and at what cost
How do farmers, War vets, Datvest nominees & other investment vehicles own what was private companies that owed creditors north of US$100m. To whom erstwhile shareholders were paid out north of US$100m. The cost of investment must be established & how the money was paid.
Secondly. GOZ is mandated by our constitution to take care of public health facilities & schools. How many people have died, kids failed for lack of investment. Therefore resources were diverted to buy mining companies & declare a dividend to spurious causes outside the mandate..
of the constitution &Public funds probity. Is GoZ the best to run a company? Its haste in declaring a dividend is a big worry. Tax payers money paid for the acquisition. Tax payers are dying for lack of health. Kids uneducated. Yet Dividend paid to causes far from the tax payer
Thirdly, What happens When Kuvimba makes a loss, as every business inevitably does.Will the loss be a public loss or will the War vets shore up capital? As is, the tax payer has unlimited liability to this entity but nil benefit. This governance issue must be a parliament concern
The same way tax payers funds were mis-directed into Kuvimba, it's inevitable funds will be mis-directed when it requires new capital. Is parliament aware of the unlimited risk tax payers have entered into? Is the citizen agreeable to the lack of probity?
• • •
Missing some Tweet in this thread? You can try to
force a refresh
