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File:After months of experiencing a dry spell, Victoria Falls in Livingstone now has some water flowing
Ministry of Arts and Tourism Permanent Secretary (PS), Howard Sikwela has called on Zambians to put aside divisive mindsets and market tourism.Rev. Sikwela said it is the responsibility of every Zambian to market tourism as it is a way of enhancing exchange of ideas.
The PS was speaking during an opening cocktail to launch the Livingstone International Cultural and Arts Festival (LICAF), in Livingstone.
And speaking earlier, Zambia Tourism Agency (ZTA), Chief Executive Officer Felix Chaila said he is hopeful that the festival will boost tourism and see an influx of not only residents of Livingstone but international delegates.
Mr. Chaila has however implored Livingstone locals to take ownership of the event.
He has further appealed to local residents to turn up in numbers for the event that will include a number of activities such as the traditional food testing, cultural performances and experience the Mosi Day of Thunder.
This year’s LICAF which is being supported by ZTA and Zambian Breweries has attracted 5 countries namely Zimbabwe, Botswana, Burundi, Seychelles, China and the host Zambia.
Works on the long awaited Bus terminus in Kasama have progressed
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Catholic Relief Services(CRS) Southern Africa Regional nutritionist Vicky Veevers dressing up 2 year old Andrew Sakala during their staff donation at Jesus Founder community school in mtendere
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Catholic Relief Services(CRS) Southern Africa Regional Director Akim Kikonda paints the wall of a rehabilitated class room during their staff donation at Jesus Founder community school in mtendere
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Vice- President Inonge Wina and her Minister ,Syvia Chalikosa at the launch of the national policy on honours and awards in Lusaka.
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Civil Service Commisioner Nickson Chasaya confers with Drug commisioner,Kelvin Silwimba at the launch of the national policy on honours and awards in Lusaka.
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Cassava Mechanisation and Agro-Processing Project (CAMAP) Team Leader George Marechera (left) explains how a tractor – driven cassava stick planter works
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Cassava farmers in Mansa’s Fimpulu area tour a 6 – hectare cassava field during a Cassava Mechanisation and Agro-Processing Project (CAMAP)
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Cassava Mechanisation and Agro-Processing (CAMAP) Team leader George Marechera (right) explains his organisation’s activities in Luapula Province to Luapula Province Permanent Secretary Dr. Buleti Nsemukila (centre) while Luapula Province Agriculture Coordinator Godwin Chate and CAMAP programme coordinator Ivor Mukuka (left) listen during a Casava farmers field day in Mansa’s Fimpulu area
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Farmers Association Chairperson Osick Chilembo introducing Lusaka Province Minister Bowman Lusamba to the farmers
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Lusaka Province Minister Bowman Lusamba flanked by Lusaka District Commissioner Capt. Davies Mulenga and Farmers Association Chairperson Osick Chilembo addressing the farmers in Chilanga District
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Lusaka Province Minister Bowman Lusamba confers with marketeers in Chilanga District
President Edgar Lungu has challenged Zambians to be bold enough to confront things that have gone wrong in the country and Africa in order to enhance the fight against corruption.
President Lungu said Zambia and Africa need to do more to put a stop to corruption because it robs the country and continent of its development, security and stability in ending poverty and improving the welfare of people.
Addressing the nation on the eve of Africa Freedom Day, President Lungu said government has made tremendous strides in fighting corruption in the country.
The Head of State appealed to Zambians to take advantage of Information and Communication Technologies to conduct business and make payments because such platforms can reduce face to face interactions between service providers and public as such meetings are great opportunities for corruption.
He said government will ensure that regulatory safeguards are developed on cyber security, cyber-crimes , data protection and e-transactions and e-commerce.
President Lungu said Zambia is a Christian nation and there is need for the citizenry to uphold Christian values and principles which are key ingredients in the fight against corruption.
He said the education curriculum has been revised to incorporate topics on corruption in order to create awareness and inculcate good morals in children from a tender age.
The president said as the country celebrates Africa Freedom Day, there is need to pursue public good over personal gain and fight vices such as tribalism , corruption and lack of patriotism that weaken cohesion and freedom of Zambians.
He said Zambians must learn and be inspired by the struggles and selfless service of the first wave of African leaders of the new and independent states.
The president said it is time that Zambia and Africa rekindle the spirit and belief of unity in the people as a heritage.
He said in commemorating Africa Freedom Day, there is need to recognize and honour that Africa’s founding fathers and mothers achieved political independence and laid a solid foundation for sustained socio-economic development.
President Lungu noted that Zambia has scored notable success in her implementation of the national anti-corruption policy which has seen mainstreaming of integrity committees and codes of ethics in various public and private institutions.
He pointed out that corruption does not only occur and affect government but also the private sector, church, civil society, political and traditional structures
President Lungu said government has continued to enhance legal framework for fighting corruption as evidenced by the review and enactment of the anti-corruption Act no 3 of 2012.
He said legislation on corporate governance has been strengthened and companies act repealed and replaced in 2017 in order to enhance transparency and promote high standards of corporate governance and financial reporting.
The President stated that the public finance Act no 15 of 2004 is being reviewed to improve accountability and management of public resources in order to address the challenges of misappropriation of public funds.
He said the public interest disclosure Act no 19 of 2010 for protection of whistle blowers and the plea negotiation and agreements Act no 20 of 2010 are being enforced to help fight corruption in the country.
The president said since corruption has a cross border dimension, Zambia has ratified the African Union Convention on Preventing and Combating corruption as espoused by the AU Agenda 2063 and UN Sustainable Development Goals which all seek to combat corruption.
He further said that government will undertake social mobilization to engage traditional leaders and civil society to engage communities to promote mindset change against corruption.
Zambia and Africa celebrate Africa Freedom Day on May 25 and this years’ commemorations are under the theme “Winning the fight against Corruption; A sustainable path to Africa’s transformation”.
State House has clarified that it did not know the content of the decision of the Constitutional Court (con-court), regarding the stay of ministers in office as alleged by News Diggers Newspaper.
Special Assistant to President Lungu for Press and Public Relations Amos Chanda said in a statement issued to ZANIS in Lusaka that at no time did state house know of the contents of the Con-court decision regarding the matter.
Mr. Chanda explained that what State House was aware of was that there will be a decision by the con-court for or against the ministers’ stay in office
“It therefore does not follow that we knew of the content of the decision. We knew of the decision date and the possible outcome of either affirmation or nullification. Notices of judgement are always issued ahead of delivery” said Mr. Chanda.
State House Press Aide stated that News Diggers misconstrued his position when he provided a detailed response to malicious allegations of impropriety in the signing of a Sovereign Guarantee that was aimed at raising finance for power imports by ZESCO.
Mr. Chanda explained that he told News Diggers that the Minister of Finance could not sign the sovereign guarantee on August 8, 2016 because there was a con-court decision on August 9, 2016 on the continued stay of ministers in office.
He said President Lungu took extra caution not to allow the minister to sign because of the impending decision of the Con-court on the ministers’ since they remained in office on a court order.
Mr. Chanda said that the only reason President Lungu signed the sovereign guarantee instead of the Minister of Finance was that the Head of State was the only elected official who could lawfully discharge the functions of Cabinet which had been nullified .
He maintained that News Diggers misconstrued his position when the paper re-published a segment of the same interview angling it on a different subject.
Mr. Chanda said the newspaper’s view cannot be used as the premise upon which any fair comment or reaction can be based by any party.
Mr Siwale (c) flanked by Mr Mulongoti and Mr Nason Msoni shortly after leaving court premises
Opposition New Labour Party leader Fresher Siwale has declared that the the entire world will now know that President Edgar Lungu is indeed Jonathan Mutaware now that the court process has started.
And People’s Party President Mike Mulongoti has appealed to the Courts to subpoena people who claimed to be relatives of President Lungu to come and testify in court and defend their statements.
Addressing Journalists outside the Magistrate Court on Thursday after he was finally released from jail, 30 days after he was arrested, Mr Siwale said the world will now know the truth.
Mr. Siwale was finally granted bail for K25,000 after Magistrate Walusiku relaxed the bail conditions.
Initially, the court wanted Mr. Siwale’s two sureties to be Directors in the civil service or from a parastatal organisation.
The conditions were on Wednesday relaxed after it became apparent that there was no one willing to risk their jobs to sign as sureties for Mr Siwale.
And in an interview after he was freed, Mr Siwale stated that he is happy that the court process has finally started saying that this was what he had been waiting for.
Mr Siwale reiterated that he will prove that President Lungu stole another man’s identify.
He said he is confident he will convince the courts that President Lungu is a common thief who has no character that he could defame.
Mr Siwale charged that as far as he is concerned, the real Edgar Chagwa Lungu died a long time ago.
He added that being charged with defamation of the president gives him an opportunity to prove his case regarding the nationality of the current Head of State.
Mr. Siwale said Zambia country “cannot be allowed to be led by the dead because the actual Edgar Chagwa Lungu is dead”.
“We cannot be ruled by the dead, there is only one man who came back from the dead, Jesus Christ. We will not rest until we prove Jonathan Mutaware wrong. The man we have now is a form three, he is not a lawyer, and Tasila’s father is the one who was a lawyer. That man has three NRCs for Edgar Chagwa Lungu, two for Edgar Lungu,” Mr. Siwale claimed.
He said spending one month in jail has strengthened his resolve to tell the world the truth about President Lungu’s nationality.
“He thought by bringing me to prison, I’d be scared and startled not knowing that he was giving me an opportunity to air my views and expose him in court. I don’t want to be acquitted, let’s get on with it.”
And Mr Mulongoti says he shocked that people who claimed to be President Lungu’s relatives have apparently vanished after they threatened to sue him over his claims that the Head of State is a foreigner.
He said he still ready and waiting for the people who claimed to be relatives of the Head of State to come and report him to be police.
Meanwhile, when trial in the matter commenced on Wednesday, Muvi TV Journalist Mabvuto Phiri told the court that he produced the 1hour 30 minutes assignment program where Mr Siwale is alleged to have referred to President Lungu as an identity thief and that he is not the actual Edgar Chagwa Lungu but Jonathan Mutawale.
The state presented before the court a DVD of the said program which was viewed in court.
But Mr Siwale’s lawyer Gilbert Phiri objected to the presentation of the DVD as evidence arguing that its contents could have been altered to suit the state.
Magistrate Walusiku has since adjourned the matter to 6th and 20th June 2018 for mention and 5th July for continued trial.
Scaling Up Nutrition (SUN), office in Mbala district has attributed high levels of malnourished children to excessive beer drinking among parents and guardians.
Speaking during the District Development Coordinating Committee (DDCC), meeting in Mbala, SUN coordinator Krysterbel Nankamba complained that the number of malnourished children in zambia compound is worrying.
Ms. Nankamba lamented that it is sad that residents of zambia compound do not even attend nutrition meetings but prefer to go and drink beer.
She said this is making it difficult to address the problem despite her office making strides in efforts to alleviate malnutrition.
Ms. Nankamba however called on the church to come in as soon as possible if the malnutrition levels are to be reduced in the compound.
A Kilombero Rice Seed field supported by Steward Globe Limited (AFRISEED) at Namushakende Farming Institute in Mongu.
A civic leader in Kabwe district of Central Province says 2017/2018 farming season was challenging to small scale farmers.
Luwansanse Ward Councillor Collins Musonda said several farmers were not able to access farming inputs through the e-voucher system under Farmer Input Support Programme (FISP).
Mr. Musonda said this during the Waya agricultural block show at Kafulamase in Kabwe district.
He said the problem was worsened by the drought that was experienced in most parts of the district.
Mr. Musonda said the district experienced a dry spell for one month and this destroyed most of the crops planted by small scale farmers in the area.
He however said, government is committed to help small scale farmers and work on modalities to ease challenges that characterized the e-voucher system.
Mr. Musonda urged farmers to strengthen their cooperatives and societies in order to grow the sector.
He observed that farmers in groups will be able to achieve more as opposed to individual approach.
The Councillor said farmers in the district will be food secure because of embracing crop diversification despite the challenges.
And Waya Block Show Chairperson Paul Chisanga said an undisclosed number of farmers have not been able to redeem their e-voucher cards since the 2015/2016 farming season.
Mr. Chisanga urged the government to examine and address the challenges that have characterized FISP for the past three seasons.
He said with the current challenges small scale farmers cannot graduate from highly government subsidized inputs.
LEGALISING use of cannabis is long overdue and government must be commended for setting up a committee of experts to finally take Zambia towards decriminalising its legal usage, a medical doctor has charged.
Dr Canisius Banda, a development activist and public health specialist, says the country was lagging behind because other nations were already benefitting from legalising the use of cannabis for medicinal purposes and that this could boost the economy.
He commended government for taking a new stance and setting up a committee of experts to firmly take Zambia towards the decriminalisation, export and medicinal use of cannabis as this is long overdue.
Dr Banda said President Edgar Lungu’s landmark decision to reconsider Government’s position on the cultivation of cannabis through the Ministry of Health was commendable as the crop was a game-changer to the economic dynamics of the country as it had undisputable benefits.
“It is exceedingly pleasing that President Lungu, through his Minister of Health Dr. Chitalu Chilufya, set up a committee of experts to firmly take Zambia towards the decriminalization, export and medicinal use of Cannabis. This landmark presidential decision needs the support of all citizens. Cannabis is the leading cash crop of California whose economy is larger than that of Italy.
“Proper management of this crop will be a game changer for Zambia’s economy. It is going to add significant value to our GDP and subsequently the per capita income of citizens will rise and their poverty will fall. It is not disputable that Cannabis Sativa, the plant, was created by God for our use. All we need is the requisite knowledge on its use,” Dr Banda said.
He further said even though there was nothing wrong with the tobacco leaf itself, smoking it the way people did through cigarettes might be wrong and anachronistic and that new and safe methods of consuming tobacco needed to be discovered and devised, saying in time, cigarettes might be abolished.
“There is significant and overwhelming scientific evidence that Cannabis is a potent medicine. It treats epilepsy and chronic intractable pain. It also stops vomiting, promotes hair growth, is an antidepressant and restores brain health in dementia patients as well as stimulating appetite, and fights cancer.
“President Lungu must indeed be commended for this bold decision because he seeks to occasion the requisite change in the quality of our lives through enlightenment and this makes him the people’s President. Cannabis Sativa is a tropical plant and Zambia’s soils and weather are perfect for its cultivation,” he said.
He further proposed for the inclusion of Green Party president Peter Sinkamba to be considered in the committee of experts as his input would be vital since he had been an ardent proponent of the legalization of the crop.
Minister of Local Government Hon Vincent MwaleMinister for Local Government Hon. Vincent Mwale has announced that His Excellency, President Edgar Lungu is this Saturday, May 26, expected to take part in the cleaning exercise to be conducted country wide.
Speaking during a media briefing in Lusaka today, Mr Mwale said President Lungu is expected to take part in the cleaning exercise in Munali constituency.
Hon Mwale said the cleaning exercise is expected to commence at the beginning of the day during which all businesses will remain closed and will only resume after 10:00hrs, and activities of social and entertainment in nature will be suspended during this period.
He said the move is aimed at facilitating the cleaning exercise for the keep Zambia Clean, Green and Healthy campaign which will take place at the beginning of the day up to 10:00hrs.
“I would like to announce that the last Saturday of this month, that is, 26th May, 2018 will be reserved for the cleaning exercise throughout the country”.
The Local Government Minister has urged all citizens to join in the cleaning exercise following the successful re-launch of the “Keep Zambia Clean, Green and Healthy Campaign” by His Excellency, President Edgar Lungu last month.
“It is now a requirement as Government Policy that all citizens participate in the cleaning of their surroundings every last Saturday of the month.”
Mr Mwale explained that congregants of Seventh-Day Adventsist church (SDA) will be exempted from the cleaning exercise on Saturday but will be expected to do the same on Sunday.
Provincial Ministers have been tasked to ensure that the cleaning activities take place in all districts whilst all Ministers in general have been directed by His Excellency the President to participate in the cleaning activities wherever they will be on the last Saturday of each month.
A lot has been said about the gift of land to the President by King Mswati of the Kingdom of eSwatini. It is not the donation of land that is seems to be the issue to most people but the capacity in which the donee has received the donation. The relevant provision in consideration is Section 21(1)(b) of the Anti-Corruption Act which states that a public officer (whether the public officer in this context includes the President is subject to interpretation) commits an offence of abuse of authority of office if the public officers uses one’s position, office or authority or any information that the public officer obtains as a result of, or in the course of, the performance of that public officer’s functions to obtain property, profit, an advantage or benefit, directly or indirectly, for oneself or another person (paraphrased).
Pursuant to this provision it has been argued that the gift of the land to the Republican President is a legal issue. In this respect, it has been argued that the President received the donation of land from Swaziland in his capacity as the Head of State. This means that an offence under the Anti-Corruption Act has been committed. It must be pointed out that legality and morality are not mutually exclusive. Corruption is morally wrong. At the same time, it is a crime.
Corruption is recognized as an issue of serious political, economic and moral significance representing a cost for growth and development. In a country like Zambia where we take seriously the fight against corruption, the fight against corruption is lost the moment that our Leaders’ actions or decisions become suspect of infringing some anti-corruption laws. This is because in a crusade against corruption, the country needs leadership that spearheads the fight not only by words but also by example. Any indication of wavering in the zeal or passion on the part of the President in the battle to rid the country of this vice can have devastating consequences. This is because in our efforts to fight the cancer of corruption, the nation looks up to the President for examples and inspiration.
The government of Zambia has declared zero tolerance against corruption. Therefore, the President must not allow his actions to erode the public confidence and trust amongst Zambians in his leadership towards this goal. The failure of leadership in this crusade will give negative signals and trigger a race to the bottom which will have serious consequences on the development of our nation. Our concern is that it is the poor men and women and the vulnerable members of our society who are going to bear the brunt of any reversals in the fight against corruption in Zambia. We therefore urge the President to demonstrate leadership in this regard by coming out to address the nation on this issue to assure the nation that the government is still committed to achieving zero tolerance against corruption.
The conflicting justifications the nation is getting from the President’s staff and some traditional leaders are not inspiring confidence in the Presidency. The reported allegations of corruption involved in this land transaction including the alleged involvement of Inyatsi Construction Ltd are very serious to be left to the rebuttal of traditional leaders and a few civil servants some of whom are probably not even familiar with the transaction. JCTR is further asking the Anti-Corruption commission to redeem itself on this matter by instituting thorough investigation in the allegation and clarify whether the President breached any provisions of the Anti-Corruption Act.
Issued by Jesuit Centre for Theological Reflection
Wedson Nyirenda has with immediate effect resigned as Zambia National team Head Coach.This is according to a press statement released by FAZ secretary general Pasipononga Liwewe. Mr.Liwewe thanked Mr.Nyirenda for his contribution towards the national team.He said the process to fill the vacancy of Head Coach will begin and the Association will conclude the process in the shortest possible time to meet upcoming engagements.
Below is the press statement
The Football Association of Zambia wishes to announce the resignation of Mr. Wedson Nyirenda as Head Coach of the Zambia national team with immediate effect.
He served as national coach from September 2016 to May 2018.
The association wishes to thank Mr. Nyirenda for his contribution towards the national team and for the sterling work he put into his job.
The process to fill the vacancy of Head Coach will begin and the Association will conclude the process in the shortest possible time to meet upcoming engagements.
For and on behalf of:
FOOTBALL ASSOCIATION OF ZAMBIA
Pasipononga Liwewe
GENERAL SECRETARY
Wedson Nyirenda has quit as Chipolopolo coach after two years at the helm.
The Football Association of Zambia confirmed that the two parties had parted company on May 24.
Speculation is Wedson is heading south to the South Africa PSL club Baroka FC.
“The Football Association of Zambia wishes to announce the resignation of Mr. Wedson Nyirenda as Head Coach of the Zambia national team with immediate effect,” FAZ general secretary Ponga Liwewe said.
“He served as national coach from September 2016 to May 2018.
“The association wishes to thank Mr. Nyirenda for his contribution towards the national team and for the sterling work he put into his job.
“The process to fill the vacancy of Head Coach will begin and the Association will conclude the process in the shortest possible time to meet upcoming engagements.”
Wedson departs after breathing some fresh air into a hitherto stale Chipolopolo during his tenure.
He guided a make-shift Zambia to its first COSAFA Cup final since 2013 when they finished runners-up in 2017 with Justin Shonga and Brian Mwila emerging as part of the new guards.
Ex-Zanaco midfielder Augustine Mulenga was later another revelation under Wedson during the 2018 CHAN qualifiers.
Wedson later gambled on Zesco United striker Lazarus Kambole for the CHAN tournament that saw the Zambia debutants’ two goals including Mulenga’s three goals propel Zambia to the quarterfinals in Morocco.
Written off as the whipping boys in the 2018 FIFA World Cup qualifiers, Zambia finished second in Group B with the highlight coming last September after collecting historic back-to-back wins over Algeria.
But draws over both legs against Cameroon plus losses to eventual Group B winners Nigeria left Zambia to settle for second best in the Russia qualifiers.
However, Wedson had earlier attained notoriety for presiding over Zambia’s first-ever loss to Mozambique that came in their opening 2019 AFCON Group K qualifier last June 10 in a bitter 1-0 home loss in Ndola.
Wedson could just not shake off that ghost and has left without redemption for the second Group K game away to Namibia coming-up this September.
The mass unemployment and the misfortunes high-tech brings cannot be ended under capitalism, says Socialist Party in Zambia deputy general secretary and 2021 presidential candidate, Fred M’membe.
Dr M’membe said in order to meet the needs of the scientific and technological advances, a transition from capitalism to socialism must be made.
“We are back again to the issues of jobs, jobs, jobs! This is one of our greatest national and global challenges today. The other week we said machines – excavators, combine-harvester, digitalised tractors, ATMs, and so on and so forth – have taken over workers’ jobs. Today we pull the string a little further and examine what is really taking place,” Dr M’membe writes. “Capitalist ideologists, apologists and some of our misguided politicians – well-meaning but empty, have been trying to present the current scientific and technological advances as a remedy for social contradictions which will ensure the general welfare of our people within the framework of capitalism.”
He said that actually, these scientific and technological advances are exacerbating the far-reaching socio-economic contradictions of capitalism and, particularly, the contradiction between the social character of production and private capitalist appropriation.
“It also intensifies the concentration of production and capital in the hands of the biggest companies and the rapidly growing dependence of social production on the new branches, which are among the technological leaders in this, as these branches are mainly concentrated in the hands of a few very big monopolies,” Dr M’membe said. “Technological progress accelerates the ruination of non-monopolised and small enterprises, which cannot afford expensive technological innovations. Enterprises have to renew their equipment continually to keep up with the technological changes. This requires continual big capital investments, which only the big monopolies afford.”
He said further that these scientific and technological advances intensify the main class antagonism of capitalism, which is the antagonism between the capitalists and the workers.
“The working class wages a constant struggle to have the proceeds of the new technology, the increase in labour productivity and the growth in social wealth used for the benefit of the working people,” Dr M’membe pointed out. “New technologies make many working people even less secure, and face them with unemployment and other privations.”
Dr M’membe observed that as a result of the growth of labour productivity at high-tech enterprises, the demand for labour power has dropped sharply.
“The mass unemployment and the misfortunes high-tech brings cannot be ended under capitalism. There are millions of unemployed in the United States and other big capitalist countries. Unemployment is particularly rampant among young people leaving school, college or university. Poverty has survived all the achievements of science and technology,” he said. “Many of the demands now being advanced by the working people are linked with the problem of unemployment, and the fate of workers who are being replaced by machines. Clearly, these demands, advanced in new conditions created by the scientific and technological advances, cannot be achieved in isolation from the more general, main task – the struggle for socialism.”
He said Lenin’s conclusion that the improvement of technology intensifies social inequality was still true.
Dr M’membe argued that capitalism was unable to completely cope with the scientific and technological advances.
“Its endeavours to adapt ultimately exacerbate the contradictions of capitalism even further,” said Dr M’membe.
“In order to meet the needs of the scientific and technological advances, a transition from capitalism to socialism must be made.”
File:Dr Rajan Mahtani Zambezi Portland Cement Chairman
Forbes, through its contributor, Mfonobong Nsehe, reports that Zambian multi-millionaire entrepreneur Rajan Mahtani has lost ownership of Zambezi Portland Cement, a leading cement manufacturer in the southern African country, as the High Court of Zambia awarded full ownership of the company to the Ventriglia family of Italy on Monday.
The resolution follows a 10-year court battle between the Ventriglia family and Rajan Mahtani, a Zambian businessman of Indian origin. Mahtani had always claimed that he owned a 58% controlling stake in the business as payment for organizing financing for the Ventriglia family years ago, but the Ventriglia family insisted that he had no claim to the stake, asserting full ownership of the company.
The Ventriglia family is one of the wealthiest and most powerful business families in Zambia today. In 1957, the patriarch of the family, Antonio Ventriglia along with his wife and children arrived Zambia from Italy. They established a Terazzo company, Ital Terazzo, which eventually became very successful. In an effort to diversify their investments in Zambia, the family decided to venture into cement manufacturing, establishing the Zambezi Portland Cement Company.
The family approached Rajan Mahtani, a popular financier and business mogul who was a family friend to the Ventriglias, and asked him to help arrange financing for the new cement company. Mahtani, who was the Chairman and controlling shareholder of Finance Bank, Zambia, used his influence to syndicate a $100 million loan from the European Development Fund and the Kenya’s PTA Bank. In return, the Ventriglia family orally agreed to sell a 49% stake in the cement company to Rajan Mahtani’s investment vehicle, Finsbury Investments, for a discounted price of $60 million – an amount Mahtani never paid. The Ventriglia family soon needed additional financing in order to increase the cement plant’s capacity and Mahtani was on hand to help arrange an additional loan, in return for an additional 9% stake in the company for a discounted price.
Even though Mahtani never paid for the shares he orally agreed to buy, he allegedly fraudulently procured his company secretaries to alter the register of Members and filed with Zambia’s Registrar of Patents and Companies Registration Agency (PACRA) a fake photocopy of share transfer certificates indicating that he was a member and shareholder in Zambezi Portland Cement. The Ventriglia family has insisted that they never transferred the shares to Mahtani’s company. On Monday, the court ruled that Mahtani had indeed falsified share transfer certificates in the company, and as such did not own any shares in Zambezi Portland Cement.
“Mahtani has been unable to produce the original signed copies of the share transfer certificates because they simply do not exist and he never paid for the shares. As such, complete ownership of the company firmly rests with the Antonio Ventriglia family,” a spokesperson of Zambezi Portland Cement confirmed to this reporter via email.
Rajan Mahtani, 70, is one of Zambia’s most successful, yet controversial businessmen. He was previously the controlling shareholder and chairman of Zambia’s Finance Bank before it was acquired by Bob Diamond’s Atlas Mara in 2015. In Zambian businessman Chisanga Puta-Chekwe’s acclaimed book, Cobra In The Boat: Michael Sata’s Zambia, he claims that Mahtani brokered a controversial deal whereby the Zambian Government sold off the state-owned Konkola Copper Mines Plc, one of Africa’s largest integrated copper producers (and a company easily worth hundreds of millions of dollars), to Vedanta resources controlled by Indian billionaire Anil Agarwal, for only $25 million, a tiny fraction of its real value.
Rajan Mahtani did not respond to an email requesting for comment at the time of publishing this story.
