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Alba Iulia
Friday, July 3, 2020

Government launches the floating of 17% ZCCM-IH shares to the public

Economy Government launches the floating of 17% ZCCM-IH shares to the public

Finance Minister Alexander Chikwanda addressing accountants during the ZICA annual ball dinner at Zambezi Sun Hotel in Livingstone
Finance Minister Alexander Chikwanda

Government has officially launched the sale of 17 percent of its shares in Zambia Consolidated Copper Mines Investment Holding -ZCCM IH- to the public.

Finance Minister Alexander Chikwanda says the move is a significant step in the evolution of the PF government’s development agenda which is anchored on creating higher levels of wealth for citizens.

Mr. Chikwanda says the off loading of government shares in ZCCM IH is in conformity with the Security and Exchange Commission’s requirement for companies listed on the Lusaka Stock Exchange -LuSE- to publicly float 25 percent of the shares.

Speaking during the launch in Lusaka last evening, Mr. Chikwanda further reveals that the sell of government shares will also raise resources for the treasury as was provided for in the 2015 budget.

And ZCCM IH Chief Executive Officer Pius Kasolo says the company has continued growing its portfolio beyond mining and is now venturing into energy, agriculture and real estate.

Dr. Kasolo says ZCCM’s vision is to effectively manage and grow investments as part of ensuring that shareholders get a return for the money.

He has also appealed to Zambians to buy shares in ZCCM-IH because despite metal prices being low currently the prospects are high as Zambia continues discovering new mineral rich areas.

And speaking during a panel discussion Lusaka Stock Exchange Chief Executive Officer Brian Tembo noted that the offloading of more shares in ZCCM-IH to the public will further improve the liquidity ratio on the stock market.

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8 COMMENTS

    • Contact a shares broker like Pangea

      If you want to buy cheaper, you can have the same ZCCM shares quotes at Paris (around 10 kwatchas), Ask your shares broker to buy shares at Paris so you will save money

    • @Sylvain Blomér,how does one buy shares at Paris and what does the process involve other than buying the usual way……..kindly enlight me.

  1. Can plse share brokers start educating zambians on how to buy shares .most of as zambians don’t know about this things.they should employ agents like insurance companies to go round and encourage people to buy shares in companies listed o luse

  2. I think there needs to be a facility that will allow Zambian to purchase these shares through payroll, and pledged against ones pension. Without real empowerment of Zambians, the main essence of ZCCM-IH would have failed.

    Thus, for real Zambian empowerment this effort should involve collaboration between the pension funds (especially the liquid NAPSA), stock brokers and employers. If we miss this chance we as a nation go back to 1968, pre-nationalization, when Zambians were only laborers in their own nation and all industries were dominated by foreign investors.

    Any one in doubt about the benefits of empowerment should visit Addis Ababa, where there are no foreign banks.

    NB: to learn how to buy shares see a broker or just google it.

    • I think there needs to be a facility that will allow Zambian to purchase these shares through payroll, and pledged against ones pension.

      Pledged against people’s pensions? That is insanity. There is absolutely no need to throw people’s pensions to the wolves of the financial markets.

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