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Remarks by Dr. Pius C. Kasolo, at the African Development Bank Annual Meetings Welcome Cocktail

Monday, 23 May, 2016
InterContinental Hotel, Lusaka, Zambia

Distinguished invited guests, ladies and gentlemen

It is a great honor and privilege for me to address you on this wonderful occasion, during this historic event for Zambia, as we host the 2016 Annual Meetings of the African Development Bank which started today, under the theme “Energy and Climate Change”.I understand that the theme of this year’s meetings draws on one of the Bank’s “High 5” priority areas, which is, to “Light up and Power Africa”.

Allow me to extend a special welcome to our international delegates.

It is my sincere hope that you will have an opportunity to sample some of the rich Zambian hospitality as you attend these meetings.

Distinguished Ladies and Gentlemen

May I take this opportunity to briefly talk about ZCCM Investments Holdings Plc.

ZCCM-IH is a diversified investments holding company, which is listed on the Lusaka Stock Exchange, Paris Euronext and London Stock Exchanges. The Government of the Republic of Zambia (GRZ) indirectly holds 60.28% of the ZCCM-IH shares through the Industrial Development Corporation Ltd (IDC), and 17.25% of the shares directly through the Ministry of Finance, with the remaining 22.47% of the shares held by Institutions and private investors.

ZCCM-IH currently has an investment portfolio of 15 companies, including some of the biggest mines in Zambia, such as Kansanshi Mining Plc, Mopani Copper Mines Plc and Konkola Copper Mines Plc.  Our shareholdings in the 15 companies range from 10% to 100%, with commodities and services that are diversified in nature; such as copper, gold, cobalt, coal, power, telecommunications, limestone, environmental & technical consultancy, financial services and gemstones.

In our strategic diversification efforts, as a company, we have ventured into the energy sector.

Invited Guests, Ladies And Gentlemen

One of the projects under our investment portfolio is a thermal power plant at Maamba Collieries Limited, in the southern part of the country.

The Maamba thermal power plant Project which will be producing 300MW of power is expected to be completed in July this year. ZCCM-IH owns 35% of Maamba Collieries Limited, and with its partners, have invested close to 850 million United States dollars into this project. Further, as ZCCM-IH we are also looking at investing in other alternative energy sources which would in turn provide substantial benefits for our climate, our health, and our economy.

Distinguished Ladies and Gentlemen

In closing, it is my sincere hope that the outcomes of these meetings, as we debate the social and economic development of the continent in line with the theme, will ultimately contribute towards overcoming the current power deficit at a local, regional and continental level in order to foster economic development.

With these remarks, I wish you fruitful deliberations during the next four days of the Conference.

Thank you for listening and May the Good Lord bless you all.

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