Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of Zambia Reinsurance PLC (“the Board”) wishes to announce the appointment of Mr. Pumulo Akapelwa and Mr. Khayalami Ngono as Directors on the Board of Directors of Zambia Reinsurance PLC (“Zambia Re” or the “Company”) with effect from 21st April 2022.
Mr. Pumulo Akapelwa
Mr. Akapelwa is a Tax Expert with 27+ years of experience spanning over tax administration, tax policy formulation, capacity building, tax advisory and anti-money laundering and countering of terrorist financing
policy development in Zambia. He has developed teams during his tenure at Zambia Revenue Authority
and as Head of Tax for the IDC Group, contributed to enhancing tax compliance of the entities in the Group
by managing the tax function. He has contributed to the establishment of the Financial Intelligence Centre
and national & regional AML/CFT policy development and monitoring.
Mr. Akapelwa Was nominated to the United Nations Committee of Tax Experts in 2009 and represented
Zambia at the OECD Fiscal Working Group in 2010 and was a member of the National Task Force on
AML/CFT from 2009 to 2017. He was also a member of the sub-committee on the Risk Assessment of the
Insurance sector in Zambia conducted by the National Task Force on AML/CFT IN 2016.
Mr. Khayalami Ngono
Mr. Ngono is the head of treasury and equity at the Industrial Development Corporation (“IDC”) and he is
responsible for leading the execution of various treasury requirements of the IDC Portfolio which includes
previously State-Owned Enterprises as well as new projects. This also includes leading capital raising and
corporate finance efforts, optimizing the Group treasury synergies, leading financial appraisals on new investments, divestitures, mergers, and acquisitions. Leading engagements that require interface with the capital markets. Prior to joing the IDC, he worked for ZANACO Plc, Cavmont Bank Zambia Limited and Stanbic Bank Zambia Limied in the treasury departments.
The Board looks forward to the contribution of the newly appointed directors to the Company and expects
that their participation will add value to Zambia Re.
By Order of the Board
Choice Corporate Services Limited
COMPANY SECRETARY