ZCCM IH Board Signal Confirmation of Director

ZCCM IH has signaled to the market that it has have every intention to firm up on the executive appointments at the company following the recent announcement of the appointment of current Acting Chief Executive Officer, Mabvuto Chipata, as Executive Director on its board.

Mr. Chipata was appointed Acting CEO on 1st February following the departure of Pius Kasolo at the end of January. The former Chief Investment Officer took over the stewardship in period that saw the investment company declare dividends of over K89 million for the 2017 financial year.

“ZCCM Investments Holding Plc (ZCCM-IH) is pleased to announce the appointment of Mr. Mabvuto T Chipata, Acting Chief Executive Officer, as Executive Director on the ZCCM-IH Board effective 21 March 2019”, read the statement issued by Company Secretary Chabby Chabala on SENS on 28th March 2019. “The Board wishes to congratulate Mr M Chipata on his appointment and is confident that he will add value in fulfilling the strategic objectives of the Company.”

The appointment of Mr. Chipata to the board signals transformation at the Investment company. In recent days, ZCCM IH’s investee company InvesTrust Bank announced the departure of 3 non-executive directors from the Bank’s Board. The announcement, of the departures of Dr Moses N. Banda, Mr. Cosmas K. Mwananshiku, and Mr. Maybin Muyawala, was made on 25th March 2019. Without a doubt, the investment company must have been informed about this development.

The proximity of the announcements is an indicator that the investment company is in a period of consolidation its executive position in order for the strategy of the company and its investments to be executed with fluidity.


ZCCM-IH | Notice of change in directorate

ZCCM Investments Holding Plc (ZCCM-IH) is pleased to announce the appointment of Mr. Mabvuto T Chipata, Acting Chief Executive Officer, as Executive Director on the ZCCM-IH Board effective 21 March 2019.

The Board wishes to congratulate Mr M Chipata on his appointment and is confident that he will add value in fulfilling the strategic objectives of the Company.

By Order of the Board

C Chabala
Company Secretary

Issued in Lusaka, Zambia on Friday 29th March 2019

Lusaka Securities Exchange Sponsoring Broker
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Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 29 March 2019

Notice of change in the directorate of Investrust Bank Plc

In accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules, the Board of Investrust Bank Plc (“the Board”) wishes to announce the resignation of the following non-executive Directors from the board with effect from 11th March 2019:-

  1. Dr Moses N. Banda
  2. Mr. Cosmas K. Mwananshiku
  3. Mr. Maybin Muyawala

The Board would like to thank the Directors for their services to the Bank and wishes them the best in their future endeavours.

By Order of the Board

Brian Msidi
Company Secretary

Issued in Lusaka, Zambia on 25 March 2019

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 25 March 2019

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Investrust: Change in Directorate

RCT Wins Automation Retrofit Work at Lubambe Copper Mine in Zambia

Autonomous solutions provider RCT says it has entered into a project to provide autonomous technology to the Lubambe underground copper mine in Zambia.

The deal involves RCT commissioning its ControlMaster® Guidance Automation on three Epiroc ST18 and two Sandvik LH517 LHDs at the mine. These machines will be managed via five automation stations located in tele-cabins.

RCT’s Guidance lets operators remotely control the machine from a comfortable air-conditioned cabin, according to the company. The system automatically steers the machine to avoid collisions, enabling higher speeds, eliminating damage and improving productivity.

The technology will be installed in June with operator training to occur simultaneously, RCT said.

Lubambe is 80% owned by EMR Capital Resources, with 20% held by ZCCM Investments Holdings. In the nine months to March 31, 2018, the mine produced 14,891 t of contained copper.

Source: International Mining

Five-Year Safety Partnership in Zambia Bearing Fruit

In the modern mining industry, one will find that most of the industry’s reputable operators have implemented a safety strategy.

The slogan “one life lost is one life to many” is regularly used as the key message in most occupational safety drives – all with varying success.

A clear success story is Mopani Copper Mines, who implemented its SAFEMINING plan in 2014.

This article first appeared in Mining Review Africa Issue 2, 2019

This vigorously driven strategy has not only proven successful at Mopani’s many mines, but it is proving to be a beacon of excellence within the mining industry.

At Mopani Copper Mine’s Kitwe operations in Zambia, there is a clear success story in Group R Mining & Exploration Zambia – an operating subsidiary of Pan African mechanised and trackless mining contractor Group R Holdings of Mauritius.

Not only did Group R embrace the SAFEMINING drive of Mopani Copper Mines, but has made it part of their daily conduct and business DNA.

The success of this is evident in that Group R has not had a single work fatality since its inception in 2010.

Moreover, the company has achieved an enviable track record of working five years without a single lost-time injury (LTI), a milestone that was achieved in late December 2018 at Mopani’s SOB Shaft.

“We at Mopani are extremely proud of the achievements of Group R and their unwavering dedication to mine safety. We would like to see this dedication and passion from all our contractors in all our operations” says Mopani Copper Mines CEO Chris Vermeulen.

The management team at Group R is firm in its approach to mine safety. Daily safety meetings are not seen as a tedious task but forms an integral part of its planning, policy-making and operational systems.

It is Group R’s belief that safety must be front of mind in everything that you do.

“Our client, Mopani Copper Mines, introduced and demanded that we work according to their international best standards for safety. As a contractor we had the choice to merely tick the boxes and show compliance or to embrace the spirit of the standards. We chose to embrace their safety protocol as part of our operations” says Group R Holdings COO Hein van Staden.

Group R believes that its five year LTI-free safety achievement at Mopani Copper Mines is merely just a measure of past performance and that providing a safe working space is not based on the past, but rather based on the continual safety performance of each and every future shift. Every shift demands 110% dedication.

“At Group R we believe that the management team is the greatest driver of operational safety, while our workers are the true custodians of safe practice. This is evident in their dedicated to daily safety at work,” say Van Staden.

Group R believes it its duty as African operator to be responsible for continuously investing in the incubation of a better, more inclusive and safer working environment within the African mining sector. This dedication is clearly visible through the safety accolades that it has achieved.

As a proud Zambian company, Group R Mining & Exploration Zambia would like to showcase to the world that Zambia has world-class mining contractors helping to benchmark Zambia’s mining sector on the African continent.

Source: Mining Review Africa

Mwanakatwe expresses gratitude over Dividend from ZCCM IH

Finance, ZCCM-Investment Holdings Plc
Posted on March 7, 2019 at 9:47 am.
Written by Natasha Sichone

On Wednesday morning, Zambia Consolidated Copper Mines-Investment Holdings presented the Zambian Government with a dividend cheque worth K16.8 million. Finance Minister Honorable Margaret Mwanakatwe received the cheque on behalf of the Government from Zambia Consolidated Copper Mines CEO, Mavuto Chipata at the Ministry Of Finance.

Mrs. Mwanakatwe expressed gratitude to Mr. Chipata and explained that it is the third dividend cheque that the Government is receiving from the organization. The first, being a net dividend of K50.3 million to the Industrial Development Corporation (IDC) and the second one to NAPSA of K14.7 million.

“The K0.61 per share final dividend declared by ZCCM-IH translates to a total of K98.1 million out of which, I am receiving this K16.8 million cheque from the 17.25% Class B shares held by government through my office” the Minister said. Margaret Mwanakatwe then went on to encourage other State Owned Enterprises to emulate the performance of Zambia Consolidated Copper Mines Investment Holdings by being more creative and working hard at turning around their institutions to profitability.

The Government’s 77.6 percent shareholding in the organisation with 60.3 percent owned by the Industrial Development Corporation and 17.25 percent owned by the Ministry of Finance. NAPSA also owns 15 percent while the remaining 7.4 percent is owned by various minority shareholders.

When commenting on the dividend cheque, Mavuto Chipata said “I must mention that, our 2018-2023 strategic plan activities are aimed at maximizing and deriving shareholder value from our existing investments in the mines and other sectors, including any new investments we will undertake as a company. ZCCM-IH will continue to play a pivotal role in the mining sector for which the ZCCM-IH brand is deeply associated.


ZCCM-IH pays dividends

ZCCM-IH has presented to Government a third dividend cheque in a week worth about 16 point 8 Million Kwacha.

Speaking after presentation of the cheque, Finance Minister Margaret Mwanakatwe thanked ZCCM-IH Board and Management for keeping the company on a profitable path.

Mrs. Mwanakatwe also urged other State-Owned Enterprises to emulate the performance of ZCCM-IH.

She explained that state owned enterprises should endeavour to always be creative and work hard to turn around their institutions to be profitable.

And ZCCM-IH Acting Chief Executive Officer Mabvuto Chipata said the institution will continue to play an important role in the mining sector.

Mr. Chipata also assured that ZCCM-IH will remain focused and continue to create value in all its investments in order to sustain the delivery of returns on investment of all shareholders.

Source: ZNBC

Chipata’s 2 big Cheques Shine at IDC and NAPSA

Monday the 4 of March 2019 will forever echo in Mabuvto Chipata mind for some time to come. This is the day that he delivered two life size cheques to two key stakeholders in: IDC and NAPSA as acting CEO of ZCCM IH.

In his maiden dividend cheque delivery as the current leader of one of the foremost investment companies in Zambia, Acting CEO Chipata delivered dividend payments that many will not know where actually fruits of his stewardship as Chief Investment Officer. The fruits in this case was the K98.1 million dividend (0.61 per share) that was declared at the last annual general meeting at the end of January 2019.

A technocrat at heart, the crisp delivery of his cheque delivery speech showed a CEO with an investment acumen. “Our main focus moving forward, is that we continue to create shareholder value to sustain the continued delivery on the Return on Investment of our Shareholders”, declared aCEO Chipata at the NAPSA head office in Lusaka when he deliver their slice of the dividend valued at approximately K14 million who own 15% of ZCCM IH.

The aCEO also indicated that his company remained focus for the long term as they continue on a growth and transformational trajectory, with continued focus on the mining sector.