The avid footy fans amongst you might have seen that Zambia won the African Cup of Nations in a nail biting penalty shootout against the Ivory Coast. I’m sure our colleagues in ActionAid Zambia partied hard on the streets of Lusaka!
The people of Zambia, two thirds of who live below the poverty line, may have some more news to celebrate. Last week the Minister of mines, Wylbur Simuusa, announced that the Zambian government was planning to audit the entire mining industry, saying:
"We need to look at what the mining industry has been giving. What we have been told by the World Bank and others is that we did not collect adequate tax." The potential results are massive: "By our calculations it might be between $500 million and $1 billion."
Following a leaked audit report a few years ago ActionAid estimate that just one mining company, owned by FTSE listed Glencore could be dodging as much as £76 million in tax each year. That’s much more than the £59 million the UK gives in aid to Zambia each year.
We’ll be working closely with our colleagues in Zambia to make sure multinational companies pay the taxes they owe.