Finance, ZCCM-Investment Holdings PlcDecember 4, 2018

ZCCM IH Inks Cement EPC and FAC Contract
ZCCM IH’s impresario, Dr Pius Kasolo, has made no secret of the fact that he wants to grow his investment company’s group portfolio. That is why the press team at Financial Insight were not surprised when the invitation came for the attendance to the signing ceremony of the Financing Agreement Contract (FAC) at their office […]

Finance, ZCCM-Investment Holdings PlcNovember 23, 2018

CAUTIONARY ANNOUNCEMENT: Ndola Lime
Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) are referred to the announcement dated Friday, 3rd August 2018, wherein the shareholders as well as other market participants were informed that Ndola Lime Company Limited (“NLC”), an investee company of ZCCM-IH, continues to be in financial distress. ZCCM-IH has over the past 10 years […]

Finance, ZCCM-Investment Holdings PlcNovember 23, 2018

ZCCM Investments Holdings PLC Acquires additional 50% Shares in Kariba Minerals Limited
PRESS RELEASE On 7th November 2018, ZCCM Investments Holdings Plc (ZCCM-IH) acquired an additional 50% shareholding in Kariba Minerals Limited (KML) which is Zambia’s largest Amethyst mine. This acquisition means that ZCCM-IH now owns 100% shares in KML. The shares were acquired from Gemfields Limited at a total consideration of US$2,500,000. The completion of the […]

Finance, ZCCM-Investment Holdings PlcNovember 10, 2018

What to do with Ndola Lime?
When we published “The Achilles Heel in ZCCM IH’s Armory”, we decoded signals of an investment in peril. The ZCCM IH 2017 annual report and other SENS announcements were very clear that Ndola Lime was a problem child. A recap of published information on SENS shows the critical time line of official announcements coming out […]

Finance, ZCCM-Investment Holdings PlcNovember 9, 2018

PRESS STATEMENT ON THE STATUS OF NDOLA LIME COMPANY LIMITED
ZCCM Investments Holdings Plc would like to dismiss and refute claims circulating on social media that Ndola Lime Company Limited (NLC) is being sold by ZCCM-IH. These claims are unfounded and false. The position is that two former NLC employees applied to Court to place the company under supervision pursuant to the Corporate Insolvency Act […]

ZCCM-Investment Holdings PlcNovember 8, 2018

Zambia Still a Preferred Destination for Investment in the Mining Sector
PRESS RELEASE Minister of Mines and Minerals Development Hon. Richard Musukwa says for Zambia to continue attracting foreign direct investment in sustainable mining projects, it is important to reduce the risk that comes with mining investment by making sure that the investors have access to adequate geological information. Speaking at the ongoing 5th annual International […]

Finance, Madison Financial Services PlcSeptember 19, 2018

Madison at Half Year 2018
In a recently published SENS Announcement on LuSE, Madison Financial Services Plc recorded results that showed a decrease in net performance over the half year period of 2018. With IFRS 9 effects being felt on the financial statements (IFRS 9 is an International Financial Reporting Standard (IFRS) promulgated by the International Accounting Standards Board (IASB). It […]

Finance, ZCCM-Investment Holdings PlcAugust 6, 2018

The Achilles Heel in the ZCCM IH Armory
Recently, I was in attendance at the President’s Luncheon held at Lusaka’s up market restaurant, The Horse Shoe (“a stylish restaurant located in a cool and calm environment at the former Polo Grill premises” according to thebestofzambia.com), hosted by ZCCM IH and Stanbic Bank. This was the first event that I would have the chance […]

Finance, Madison Financial Services PlcJuly 17, 2018

Madison Financial Services in 2017: Case of the PHD Syndrome
In a year of mixed fortunes, Madison Financial Services will remember 2017 for the highs and lows that where omnipresent in their financials. According to SENS Announcement published 14th June 2018, after a tremendous recovery was recorded for the total insurance business which had a triple jump in profits at 275%, the company made positive […]

Mining, ZCCM-Investment Holdings PlcJuly 2, 2018

ZCCM IH 2017 Performance
In his maiden letter to shareholders, State Counsel Eric Silwamba (the newly appointed board Chair of ZCCM Investment Holdings) expressed confidence in the management team of Pius Kasolo (CEO) and the group’s prospects going forward. Although new to the role, SC Silwamba takes over an investment group that is at a critical stage in its […]