Word: zambia
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Dates: during 1960-1969
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...Your article "Nationalization in Zambia" [Aug. 22] brings out very clearly some of the dilemmas facing investors in that country in the light of President Kaunda's recent move in asking the owners of Zambian copper mines to negotiate the sale of 51% of their shares to the state...
...Selection Trust alone, net income for the recent fiscal year was $69 million. For the first nine months of that year the dividends were $21 million or 46% of net income. Therefore a very considerable capacity exists for payment of dividends to both old and new owners, even after Zambia's very heavy taxation...
...Kapwepwe was a militant nationalist leader as one of Kaunda's colleagues in the fight for independence from Britain. In a recent about-face, he became Kaunda's chief rival for political power. Last week Kapwepwe more than lived up to Kaunda's billing by plunging Zambia into what may well be its most serious political crisis to date...
Freedom Shirts. A leftist-oriented demagogue, Kapwepwe heads Zambia's powerful grouping of Bemba tribes, which account for a fourth of the country's 4,000,000 population and a good part of its bitter tribal rivalry. Two years ago, when he was elected vice president of the country's ruling United National Independence Party (U.N.I.P.), Kapwepwe automatically took over Zambia's vice-presidency. During a hastily called press conference last week, he abruptly resigned. In a speech designed to upstage Kaunda, who was scheduled to deliver a nationwide address that afternoon, Kapwepwe complained that...
...Zambia's greatest damage will probably be to itself. The country needs private investment capital, and, as New York Governor Nelson Rockefeller said on his recent South American tour, "investment capital likes to go where it is loved." Kaunda's action can only encourage potential Zambian investors to go elsewhere in search of affection...