The Industrial Development Corporation says it has noted with concern the deliberate falsehoods and misrepresentations published by former ZESCO Board Chairman, Dr Mbita Chitala, in his book “Corporate Capture: The Political Economy of Electricity Management in Zambia”.
The Corporation is dismayed that, rather than using the book to add value to public and academic discourse on the better management of State-owned Enterprises in Zambia, Dr. Chitala opted to use it for personal attacks on the leadership of the Corporation and malign the integrity of the IDC through blatantly false claims.
IDC Head Corporate Communication Namakau Mukelabai says contrary to his assertions, there were no attempts to strip any of ZESCO’s assets nor were IDC’s disagreements with the ZESCO Board Chairman personal in nature.
Ms. Mukelabai said the IDC’s interactions with, and directives to ZESCO are well documented and therefore, the former Board Chairman’s claims in his book are easily disprovable.
Ms. Mukelabai says his assertions on management fees are false, as the issue was addressed by the Attorney General who guided ZESCO that the introduction of management fees by IDC for services it provides to its subsidiaries as a holding company, was legal and they should be paid in accordance with modalities agreed upon in the Management Services Agreement.
In a statement, Ms. Mukelabai said Dr. Chitala twice accepted his appointment to the ZESCO Board by the IDC, contrary to his claims that they were Presidential appointments.
She said that some of the information published in the book is in fragrant violation of his fiduciary responsibilities as a Director as enshrined in the Companies Act and underlines the deep concern IDC had over the Corporate Governance practices that were taking place in ZESCO.
Ms. Mukelabai said the IDC is consulting with key stakeholders and its lawyers on additional action that could be taken, and the public will be informed accordingly hence the public should disregard the claims against the Corporation in Dr. Chitala’s boo
What’s Namakau talking about? Hasn’t the IDC CEO been arrested? I don’t doubt Mbita, he’s candid. If they were lies he wouldn’t have put it in a book. So it’s better you shut up otherwise you’ll get yourself into trouble for nothing
IDC is dead weight. I know Dr Mbita, he is not an 1d1ot.
Nazo nkhani
Who said “Conceal the truth in a book and Africans will not read”? So those who have thoroughly read Mbita Fitala’s book must not be Africans right? …
It’s to write another BOOKS on how to better run those and give it a price You can write it quick in common development let me peer review it and comment.
Why are these crooks hiding behind IDC …sue Chitala in your personal capacity, I mean its just recent that IDC CEO was arrested …the whole organisation was filled with corrupt people.
The race against facts is beginning in earnest. You cannot make this up. I will get a bag of popcorn so I can pop and settle each time this comes up for a ridiculous round of parole!
Teka amatako pashi.
Lol….he’s trying hard to brown-nose the liars themselves.
Him and Mumba are not any different. UPND run from these 2 animals.
Sue him so that the truth came to light in the courts of law. That’s what unjustly offended people do.
Does Ms Mukelabai live in cloud cuckoo land? Everyone knows that Zesco became the cash machine for PF. For all his frailties, one has to think that Mbita Chitala has a good insight into the corruption going on at Zesco. It’d seem to have become the new ZCCM, which was run to ground by thieves and UNIP. Time to put these guys to the sword. Reorganisation won’t save an purpose, without identification of failures and causes.
Just sue him that’s what he wants. Publicity to sell more copies of his book.
I said it 10 years ago that it was a mistake to create an INDECO style entity by old man Sata…can one mention one success story of IDC, its only Directors and Board members getting fat via kickbacks and asset stripping.
Abakulu Bambi masaka
Both the IDC and Derrick Bitter Chitala are thieves, ba ishongolola Bo naminungu ba!
Suing him for what? What he has revealed is for the public good. ZESCO ni ya nyoko?
HEY: Mutonya, ZCCM as conglomerate used to make profit/breakeven, save for some Operating Divisions and some of its Subsidiaries. It was only run down by those who participated in its unbundling, asset evaluation and eventual sale for a song on the premise that it required INVESTOR capital funding/Recapitalisation.
CONTINUED
Note that ZESCO, NAPSA AND ZANACO, INVESTRUST, IDC bank later on NATSAVE are key GRZ institutions that need to be handled with care by any political party in power at any given time. What is required is not to POLITICISE this institutions but GRZ HAVING A FIRM GRIP ON THEIR OPERATIONS. Mutonya don’t argue you have never been in Government and you were not there during ZCCM and UNIP days.