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HIPC Budget II

The Post (Lusaka)

COLUMN

February 1, 2004

Posted to the web February 2, 2004



By David Punabantu

Lusaka



As a Zambian when looking at the "cabinet" picture, look into their eyes and try to figure out what kind of independence was handed over to them. What kind of warnings did they receive and were they told not to repeat the Congo saga?



The deal that defined Zambia's independence is seen in her past with the mineral rights issue just like Congo faced with Katanga.



The mineral rights dubiously belonged to the BSAC, which was started by Cecil Rhodes and bankrolled by Rothschild whose real name is Moses Bauer. Muna Ndulo's book entitled Mining Rights in Zambia records that these rights were still BSAC property even after independence in the Order in Council that created the Zambian constitution. These rights were to run as far as 1985 and for Congo until 1990 when they could be renewed, hence the sudden "winds of change" over ownership of land after democracy swept in. As seen in Zambia many expected a freehold system in which a person with title deeds would own both the land and the minerals. But all of a sudden the Lozi Royal Establishment opposed such a move much like Katanga province in Congo, and this set a rift with government that had undertones of secession as the Barotseland Agreement was resurrected. The compromise was "companies" could own land.



The question today is how do "companies" using government get land from the chiefs to give to the "foreign investors" under the pretext Zambians need land, so that in future a freehold system can be introduced, and Zambians together with their chiefs may find that they do not own the nation's mineral wealth but "Leopold" like and "Rhodes" like firms do? Do they tell government in order for the economy to improve a free hold system is needed or do they financially squeeze government until it accepts as seen in HIPC and ZANACO?



As noted in The Post of December 20, 2002 in an article entitled Beyond Privatisation, 'when Cecil Rhodes died he left his vast private estate called Rhodesia in private hands being Rothschild's son-in-law Lord Rosebery, who at one time was the Prime Minister of UK and Alfred Beit. Lord Rosebery had married Hannah Rothschild.'



Richard Hall notes that 'in October 1963 serious negotiations were begun in London at the offices of the territorial government's financial advisors, Warburg and Company. The British government sent an observer to the talks. On May 4, a meeting was held at the offices in London of Warburg and Company. Present were Kenneth Kaunda, Harry Oppenheimer, Sir Ronald Prain and representatives of Chartered.' It does not state whether Harry Nkumbula or Simon Kapwepwe were present or what was discussed with regards to mining rights embedded in the 1964 Zambian constitution.



Warburg's origins are interesting. Warburg's entrance into the financial world was when Paul Warburg married Nina Loeb, daughter of Solomon Loeb of Kuhn Loeb and Company, while his brother Felix married Frieda Schiff, the daughter of Jacob Schiff the power behind Kuhn Loeb and Company. Schiff bought his partnership in Kuhn Loeb and Company with Rothschild funds.



It was Paul Warburg who was a Director on the Federal Reserve Board who played a key role in supporting America's war effort. However when it was discovered his brother Max was running the German side he resigned.



The link between the Rothschilds, IMF, World Bank and Belgium Congo is found in Garry Allen's book entitled None Dare Call It Conspiracy in which he mentions a grouping of high financiers called the Bildersbergers established by His Royal Highness Prince Bernard of the Netherlands. The Prince is the main figure for the Royal Dutch Petroleum (Shell Oil) and the Societe General de Belgique. In May 1954 the Bildersbergers met and present at their meeting were some of its members being 'Baron Edmund de Rothschild of the House of Rothschild, McNamara of the World Bank, Sir Eric Roll of S.G. Warburg and Company, Pierce Paul Schweitzer of the IMF', writes Allen.



Consequently whether Zambians deal with the Russians, Communists or the west they are being sponsored by the same people so that who ever wins the balance of economic and political power still remains with the same group, unless they challenge the very system as seen with Ghandi of India and Ho Chi Minh of Vietnam.



Thus when MMD was a pressure group it was formed at the Garden House Hotel in July 1990 whose proprietor then was no other than the late Theo Bull whose connections with Cecil Rhodes have been dealt with already.



At Kaunda's meeting on May 4, Harry Oppenheimer represented Anglo-American Corporation (AAC) that was set up by his father Sir Ernest Oppenheimer and Lincoln William Hannold in 1917 with JP Morgan finance. JP Morgan incidentally was the American agent for the English Rothschilds.



Today the privatisation of ZCCM was evaluated by advisors Clifford Chance and NM Rothschild and Sons when Zambia Privatisation Agency (ZPA) chief executive was Valentine Chitalu and the late Luke Mwananshiku who appears in the London photo. Yet the surprising thing is that the package offered by AAC was similar to a past package in 1968 to develop the mines. Was AAC then really serious about taking the mines as a viable economic venture to serve Zambians, or did they waste time so that the economy suffered and hence Zambians as well?



Colin Legum and John Drysdale's book entitled Africa Contemporary Record: Annual Survey and Documents 1968-9 notes 'the Japanese Finance Minister in May announced approval for two Japanese companies to raise loans in London and Europe for copper development in Zambia. The companies, Mitsui and Mitsubishi Shoji Kaisha offered a US$70 million loan to Anglo-American Corporation (Central Africa). An Anglo-American spokesman confirmed that loans totalling US$42 million together with deferred payment arrangements for a further US$28 million were for machinery etc. In return Anglo-American would guarantee to supply Japan with 100,000 tons of finished copper annually for ten years. Anglo-American currently supplies Japan 90,000 tons through Mitsubishi, who are its agents.



'The development of Nchanga Mine, Chingola to increase monthly mining and treatment rates from 470,000 to 800,000 tons of ore over the next five years is estimated at US$86 million. The development of the Anglo-invented Torco process for treatment of refractory ore, the initial US$32 million loan to be raised through an International Consortium of banks headed by the Standard Bank (UK). A further loan of US$10 million to be provided in April, 1969 is to be raised in Europe.' It was again Japan that together with president Mobutu of Zaire struck a deal to take control over the copper mines as a compromise with Union Miniere to defuse the Katanga saga in nationalisation to come up with Gecomins.



For Zambia revenue from exports have been static, as it is sold not in Kwacha but US dollars on the London Metal Exchange (LME). The Kwacha is banned from buying its own copper on the LME. This is the same "chopping of hands and feet" today economically on "ordinary" Zambian's physique. This same pattern is seen in the national government budgets that average mostly US$1 billion since the early 1970s to date. The same structure of the budget being roughly fifty percent donor funded has not really changed, but has only been politically masked to hide the truth of the "Company's" economic structure in which the Zambian economy has been placed.



Zambia today needs to reach the HIPC point as determined by another company called the IMF coupled with donor support.



This gap in the budget is not new. As seen in the Northern Rhodesia Development Plan for the Period 1st July, 1961 to 30th June 1965 it gives the capital fund at 28.366 million sterling pounds of which 12.090 million sterling pounds is to be borrowed, which is almost half. Rural development was supported by the Rhodesian Selection Trust (RST) group that lent the government two million pounds towards it. The report reads 'Anglo-American Corporation is lending 5.1 million pounds over a period of five years for rural development throughout the Federation.



'Under this loan 1.080 million sterling pounds will be received by the Northern Rhodesia Government during the period of the plan; this constitutes about 10% of the total capital expenditure on rural development. Both these loans by the mining groups have been made on very generous terms.'



It is these loans today that President Mwanawasa hopes to get written off as seen in his recent Parliamentary speech so that Zambia can reach the HIPC completion point. It is HIPC that has set the mental state of the Zambian economy and its people in which baskets of poverty are to be increased.



Zambians should be able to see through HIPC, the national budget and the loans by looking at Congo again. In the Congo darkness answers are found as Calder exposes.



Calder notes that 'during the years preceding the granting of independence curious things had been happening. The gold reserves disappeared, on the excuse that it was the backing for pensions and compensation of displaced Belgians. The treasury lost most of its liquid assets.



'The value of these, which had stood at over ten thousand million francs (over seventy million pounds) in 1957, had declined to five hundred million (about three and a half million pounds) by the end of 1959. In the same time the Congo Treasury, from being a creditor of the Central Bank to the extent of five thousand million francs, had became its debtor for one thousand four hundred million francs, and on Independence Day 1960 the new government found itself owing this Belgium-controlled bank over two million francs.





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