Lawrence Sikutwa risking people’s money

Lawrence Sikutwa risking people’s money

Dear Editor,

I just wanted to comment on Mr./Dr. Sikutwa. I know the man has worked hard to get Madison to where it is today
and no wander it is justifiable for him to remain the CEO and Chairman of Lawrence Sikutwa and Company which essentially controls
Madison Financial Services which is composed of Madison General, Madison Asset Management ,Madison Health ,Madison Life, Madison Finance and some others that I may have missed. And I am aware that whilst each of them has it’s own CEO and oversight board with it’s own chairman, each of the CEO reports directly to him and board Chairman, guess a little bit complicated but at least from the site and a bit of information from colleagues within these companies seem to attest to those facts. My worry is mainly with his involvement to IDC. He might not be walking out with anything tangible considering his status but maybe just to build his CV ++ and influence, but the fact that Madison Financial services is now a public listed company and considering the numerous shady and risk deals IDC is doing , I think he is risking people’s monies because we don’t know how the next govt will treat these deals and all those involved. Madison as a whole may be benefiting for now as we have heard that some of the govt. workers have been forced/coerced into signing some insurance policies with them, but I think in the long run, this may ruin the company’s reputation. Poor Zambians have invested their monies there , I believe it is morally right for him to excuse himself from at least being the overall CEO and only remain the chairman to safe guard our little investments . He has to learn that what happened to Post and Finance Bank CEO/Chair might soon happen to him and that meanwood investment crook. Their demise did not only affect themselves but also businesses they built. In case he feels they are no qualified persons to run his empire , at least let him appoint his children/relative (I assume he has qualified or well educated children considering his status) to run the company.
In no way do I want or intend to discredit him or take way from him what he has worked so hard to build but IDC deals are just too risky and shady for any new govt not to question their past deals. I guess by now we all know why ZESCO’s assets are being audited, it’s no longer a question of if it happens but when it happens. The whole idea is to burden Zambians with Taxes but continue borrowing carelessly so that they convince IMF to be capable of servicing the loans and get that loan, when they get the monies they want, the next thing will be,’ we can no longer service these loans let us sell ZESCO and ZCCM and service our loans…………’ At that point, the only option that will be left is to either sell those assets and shares or introduce more taxes. With the burden we have already , most of us will just say get “rid of the former…………………….

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