ACCORDING to the latest Auditor General’s report on parastatal bodies, in 2020 the National Pensions Scheme Authority (NAPSA) spent US$54,900,000 to buy shares in a Chinese company called Marcopolo Tiles and its sister firm Wonderful Group Industries. The report shows that despite spending all that money, which at today’s exchange rate exceeds K1.56 billion, NAPSA did not bother to independently find out the value of those shares they wanted to buy. Whatever the Chinese sellers demanded, NAPSA just removed the money and paid. We are now told that in subsequent years when the value of the shares were assessed, the results showed that instead of K1.35 billion, the shares were actually worth K461 million; meaning they were overpriced by about...