LIAN An Mining Limited, a Chinese company, has apologised to former minister of foreign affairs and international cooperation, Stanley Kakubo, after a business deal soured, ultimately leading to Kakubo’s resignation.
Kakubo, who owns Hounslow Investments Zambia Limited, resigned from his ministerial post on December 26 last year owing to corruption allegations levelled against him regarding the business transaction.
Furthermore, a video circulated online late last year with a man believed to be Kakubo and others counting bundles of money sparking debates online.
However, it was revealed that the money was paid to Hounslow Investments Zambia Limited as consideration for a joint venture agreement that the firm entered into with Lian An Mining Limited, a Chinese-owned business.
“The transaction was purely above board and the subject matter of the agreement was capital contribution for a mining operation,” Lian An Mining Limited managing director Zhang Lianan said in a statement availed to Daily Mail.
“Let it be advised that no bribe was paid to anyone as the reports in online media suggested. All dealings between Hounslow Investment (Z) Limited and Lian An Mining Company limited were purely of a commercial nature.
“I wish to sincerely apologise for the inconvenience and embarrassment that the events surrounding this transaction may have caused to Hon. Stanley Kasongo Kakubo and to Hounslow Investment (Z) Limited.”
Zhang remembered that a disagreement arose between the two parties regarding the joint venture’s execution.
This led to legal action in both the Ndola High Court and the Lusaka High Court.
However, he mentioned that both disputes were peacefully resolved, and neither Hounslow Investment (Z) Limited nor Lian An Mining Company Limited have any claims against each other.
“I wish to reiterate that there is no outstanding disputed issue with the said Hounslow Investment (Z) Limited, nor any claim for any monies whatsoever,” said Zhang.
Kalemba March 18, 2024
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