ZCCM-IH makes bumper loss in 2019

ZCCM-IH makes bumper loss in 2019

ZCCM Investment Holdings has recorded a loss of 107 million kwacha in 2019 compared to 433 million kwacha profit in 2018.

ZCCM-IH Chief Financial Officer Chilandu Sakala has attributed the loss to decreased dividends investee companies such as Kansanshi Mine.

And ZCCM-IH Chief Executive Officer Mabvuto Chipata says the Holding has devised strategies that will elevate it from being a minority shareholder to a significant minority shareholder.

Mr. Chipata has also revealed that a company called ZCCM Gold Company Limited has been formed to harness the Zambian gold sector.

He adds that ZCCM-IH will continue pursuing value addition in the Zambian mineral sector.

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COMMENTS

WORDPRESS: 12
  • comment-avatar
    Joseph 1 week ago

    what expenditure did ZCCM-IH incur that would turn a previous year’s huge profit of over K400m to a whopping loss of K105 m in just the next year.

  • comment-avatar
    Nyambe the Hero 1 week ago

    The price of nepotism and tribalism.

  • comment-avatar
    John 1 week ago

    Ask lungu where the money is

  • comment-avatar
    Filz gud 2 weeks ago

    While they keep quiet when they make profits

  • comment-avatar
    FILZ GUD 2 weeks ago

    Too quick to announce when they make losses

  • comment-avatar
    Kalyamani 2 weeks ago

    When Kasolo was the CEO the company was prforming. Nomba ichi batuletela…awe sure. This chap has no clue of how to run a company like ZCCM.

  • comment-avatar
    Bashi Chite 2 weeks ago

    CLOWNS!! CRY MY BELOVED COUNTRY.GOD HELP US!

    • comment-avatar
      KOLWE 2 weeks ago

      Bring back Kasolo. Ichi chi Chipata mwaleta tachaishiba nangu fimo. Ala chalaonaula company.

  • comment-avatar
    Bashi Chite 2 weeks ago

    These chaps are clowns hired on a wako ni wako basis to mismanage a cut throat mining business. Cry my beloved country! God help us!

    • comment-avatar
      abilima 2 weeks ago

      Bashi Chite – ZCCM-IH is not a mining business company – it is an investments company. Notwithstanding that the Company has been mismanaged: Kasolo did nothing, Chipata is completely blunt and sounds like a bit on the dull side.

  • comment-avatar
    Kassala 2 weeks ago

    Good luck. And you thought company function ends at appointment. You must work friends. Don’t blame other than your incompetence.