The Board of Commissioners of the Competition and Consumer Protection Commission (CCPC) has unconditionally authorized the takeover of 65% issued share capital in Maamba Collieries limited by Nava Barat Singapore PLC.
The shares of Maamba Collieries owned by the Zambian government through the Zambia consolidated Copper Mine (ZCCM) are being taken over by Nava Bharat Singapore of Singapore on grounds that the transaction did not raise any competition and public concern.
According to investigations carried out by the Commission, it is highly unlikely that consumers and customers of Maamba Collieries Limited could be abused by the firm because they have alternative sources of supply both in the domestic and import markets.
Maamba Collieries Limited is a wholly owned subsidiary of the ZCCM-IH, a successor company of the defunct Zambia Consolidated Copper Mines (ZCCM) and remains Zambia’s largest and dominant producer of coal accounting for 80-85% with only about 10-12% imports.
The Board notes that the takeover will provide the company with fresh capital which will boost production at Maamba Collieries Limited.
This was agreed upon during the 49th board of commissioners meeting held in Lusaka yesterday.
During the same meeting, the board of commissioners also noted and closed allegations of abuse of dominance against Shoprite by one of its suppliers on grounds that there was insufficient evidence against the supermarket chain to warrant further investigation.
A supplier had accused Shoprite Checkers of de-listing them from their list of suppliers allegedly as a result of their supply of the company’s product to Shoprite Checkers’ competitors Pick n Pay.
Investigations by the Commission revealed that Shoprite did not abuse its market position as claimed by the complainant and further that the complainant had no supply contract with Shoprite but supplied its products through a third party, which no longer trades with Shoprite.
The Commission also found that other suppliers to Shoprite were not aware of such threats from Shoprite Zambia.
This is contained in a statement made available to QFM by CCPC Director of Consumer and Public Relations, Brian Lingela.
[ QFM ]
Next page please, Nava Bharat has been in Zambia for close to two years now. Guess LT like MMD have nothing new to put on the table
Yet another Govt entity sold to foreigner just like Zamtel. All the Govt needed to do was to import personel but they never learn do they?
the CCPC is one of the many institutions that a good in a free market economy. am happy with gov for it continued down sizing.
#2 parastatal have a common natural history not only in zambia but world over. and for your information you are part on the people footing their bill. companies that canot survive should be left alone to demise that vaccum will alway be filled by a more effiecient company.it like evolution
NO NEWS THERE …. WHAT ABOUT INVESTIGATING IF THESE GUYS HAVE HONOURED AGREEMENTS LIKE PAYING RETRENCHEES? AS FOR YOUR LAZY JOURNALISM HERE IS WORK, UNLESS POSTING OLD NEWS. GO FIND OUT THERE IN MAAMBA HOW MANY PEOPLE HAVE DIED SINCE MCL RETRENCHED IN 1997. NOT BEING REDUCED TO PRAISE SINGERS OF MMD …..