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Alba Iulia
Monday, August 8, 2022

KCM and Indo Zambia Bank hold exploratory discussions for bridge financing to the company

Economy KCM and Indo Zambia Bank hold exploratory discussions for bridge...

Konkola Copper Mines Plc (KCM) and Indo Zambia Bank have held exploratory discussions to establish a strong business partnership, which would unlock bridge financing to the mining company by the bank to pave the way for growth.

KCM Provisional Liquidator Celine Nair, who is also the acting Administrator General and Official Receiver of Zambia, held business talks with Indo Zambia Bank Managing Director Kowdichar Shashidhar and other senior bank officials during a visit to KCM in Chingola. The Provisional Liquidator’s team comprised her agent Jason Kazilimani, the acting Chief Executive Officer Enock Mponda and other senior management officials.

The discussions centred on creating synergies to ensure potential structured financing of mining operations, possible lending by the bank to employees of KCM and other facilities that would assist in unlocking some of the untapped mining activities of Konkola Copper Mines.

Indo Zambia Bank expressed their desire to explore and partner with KCM in the short to medium term. The bank is also willing to explore possibilities of extending credit lines and other facilities. “KCM is looking at ways of doing business with Indo Zambia Bank through a win-win situation. We would like to create a strong mutually beneficial business partnership with Indo Zambia Bank,” Ms Nair said. Ms Nair said her office would continue to strengthen relationships with lending institutions to in order to create a strong platform for take-off by a new investor in KCM for continuity in mining operations. The government of Zambia is looking for an investor to take over the running of KCM.

“The global market is presenting opportunities for entities like KCM and we as Indo Zambia Bank would like to be part of the support to unlock such opportunities,” the Indo Zambia Managing Director, Mr Shashidar said.

The two parties agreed to explore pooled support to Community initiatives such as tree planting to aid a green economy, which is the thrust of the New Dawn Government for environmental promotion activities, and also in the areas of promoting various sports disciplines.

7 COMMENTS

  1. Indians for so many years destroyed the Zambian economy. Chinese only came now to finnish us off. But the deep rooted problem are Indians. They only trade amonst themselves – Typical Tribalists. Look at this Nair of a Liquidator she exaclty replicating what Milingo Lungu was doing-He took this company to the PF and this Indian is taking the company to the Indians-where the people dont want it to go. From an Indian, by an Indian, To an Indian.

  2. There is no financing an Indian can do that will ever benefit any Zambian. These tribalists have been overlooked for too long and now they need to ne checked. As they cause more harm than good in our communities. Housemaids they work like slaves in their houses and shop keepers work from Sunday to Sunday with no overtime or an off day. No bonuses, these fackers have really taken advantage of African cheap labor, I have never in my life, seen any person that work for an Indian and this person is rich-Never! Its a taboo. why? cos Indians dont pay.

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