A statement from State House Tuesday midmorning said ‘government having accepted without reservation the report on the findings of the Committee Investigating the sale of Zamtel, His Excellency, Mr Michael Chilufya Sata, President of the Republic of Zambia has deemed it desirable and expedient to compulsorily acquire the 75 per cent shareholding of Lap Green Network in Zamtel. The appropriate notice under the law has been given.
Consequently, the President has ordered the dissolution of the Board of Directors of Zamtel. The Head of State has appointed Dr Mupanga Mwanakatwe, Chairman and acting Chief Executive Officer as a first step to regularize the affairs of the company.
A new board will soon be put in place to give the policy guidance and direction to management and staff. President Sata has further directed management to address the plight of Zamtel workers with due immediacy.
“There should be no loss in jobs except through retirement and attrition while maintaining the highest levels of discipline and respect of law,” President Sata said.
“Zamtel workers have served with distinction in an area of sophisticated information technology. This has been so from the inception of the company.”