Ndola Lime, ZCCM-IH In $100 Million fraud

Ndola Lime, ZCCM-IH In $100 Million fraud

 

Ndola Lime Company owned by ZCCM-IH has lost over $100m when it paid upfront funds for a defective kiln that has never worked.

This came to light when the Parliamentary Committee on Parastatals sat to question the huge loss of a whopping K130million($100m) by Ndola Lime Company and ZCCM-IH.

Committee Chairperson Peter Daka took to task Ndola Lime Management to explain how the parastatal company could procure a defective equipment and release the money upfront to a contractor/supplier, before installation, testing and commissioning was done and completed.

Meanwhile Ndola Lime Company Manager Engineering, Sydney Matamwandi disclosed that the Italian company, Terruzi, went into liquidation in 2014 shortly after receiving the $100m.

He said the kiln was defective and required more millions of dollars if it has to be corrected and commissioned.

And ZCCM-IH Acting CEO, Mabvuto Chipata said he could not explain how the $100million was released in full to a supplier before procurement, delivery, installation and commissioning was completed.

He said ZCCM-IH was now reviewing its procurement systems to avoid repeat of such loss of money.

And Ndola Lime Company General Manager, Stephen Bwalya said it was regrettable that the $100m had been lost and can not be recovered as Terruzi company, supplier of the kiln was liquidated in Italy.

At the time of the purchase of the kiln, ZCCM-IH was headed by Dr. Pius Kasolo.

In this transaction, no one has been investigated, charged or

Share this post

COMMENTS

WORDPRESS: 5
  • comment-avatar
    Intermarket 1 week ago

    Mabvuto Chipata was fired from Professional Insurance and Intermarket for shoddy deals. He is a cunning manipulator. He uses others’ shoulders to fire. Watch out. ZCCM-IH stinks. All investments during the last 6 years are rip-offs. ZCCM-IH along with NAPSA is being used to siphon billions. Check Mabvuto’s properties in Zimbabwe where his parents come from, three houses in Lusaka and hefty bank account in South Africa. If he denies it, I can provide details of all these properties and accounts

  • comment-avatar
    Most CEOs belong to Jail 1 week ago

    We need to change something in the Constitution and Laws. There are CEOs who have stolen big time  and up to now they are free to move around on the streetsk entertaining their girl friends with the same stolen money. God help Zambia, twasebana pafula.

  • comment-avatar
    abilima 1 week ago

    When was K130 million equivalent to $100 million?? Or is this part of the stealing process?

  • comment-avatar
    Temwa banda 1 week ago

    This Government, we don’t know which directions it’s going. Every time in reverse. Till in ICU, not to be resustated. Ba pfools, department before the country is on its knees. Bafilwa, ba Koswe , ba chakolwa.

  • comment-avatar
    John 1 week ago

    Another wonderful scam over seen by PF, thank Mr PF for making us beggers again