Lubambe Mine stimulating Keep Chililabombwe clean campaign-Mayor

Chililabombwe Mayor Christabel Mulala says Lubambe Copper Mines (LCM) is spurring the ‘Keep Chililabombwe Clean Green and Health’ campaign.

Speaking during the cleaning exercise facilitated LCM in Konkola today, Ms Mulala said the Council wants to work with like-minded corporate entities in ensuring the surroundings are clean, green and health.

She said cleaning is the exercise in which every resident must be get involved because cleanliness is life.

The Mayor said LCM promised to make the wheelbarrows, rakes and all cleaning equipment available during the monthly cleaning exercise which happens every last Saturday of the month.

Speaking earlier LCM Chief Executive Officer Nick Bowen said the mining firm was adhering to the Presidential directive of the ‘Keep Zambia Clean, Green and Health’ campaign.

Mr Bowen said the cleaning exercise which incorporated pupils from Konkola Primary School was a good move because it will inculcate the cleanliness attitude in pupils from tender age.

Mr Bowen later donated assorted items to Konkola Primary school, among them the textbooks, paints, cleaning equipment and agents plus plants.

Konkola Head Teacher Joseph Chaila received the donation on behalf of the school.

And in a vote of thanks Esther Chulu one of the pupils applauded LCM for the donation of the textbooks saying it will be easier for pupils to pass well.

She said LCM has been a partner of the school which sponsors pupils to Grade 10 when they do well.

Source: The Independent Observer

Investrust Bank Plc | Appointment of Director

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 appointment of Mr Peter Hillam Banda as a non-executive Director of the board with effect from 25th April, 2019.

Mr Banda holds a Bachelor of Arts in Economics from the University of Zambia (“UNZA”) and a master’s degree in Economics from New Mexico State University in the United States of America. He is an Economist and Banking professional with over 30 years of experience.

The Board would like to congratulate Mr Banda on his appointment to the Board and wishes him the best in his new role.

By Order of the Board

Brian Msidi
Company Secretary

Issued in Lusaka, Zambia on 02 May 2019

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
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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 02 May 2019

Mongu Rice Slogan Wins Kudos

COPPERBELT University third- year student Mubiana Sinyinda famously known on social media for his humorous advertisement of Mongu rice, has received K 15,000 from Investrust Bank.
Investrust Bank managing director Simangolwa Shakalima said Mr Sinyinda’s entrepreneurship skills caught the attention of the financial institution, which has decided to give him K10, 000 to expand his business and K5,000 for his upkeep in school. https://epaper.daily-mail.co.zm/

Source: Zambia Daily Mail

Investrust Pumps K70m Into Digital Platforms

INVESTRUCT Bank Plc has invested over K70 million to improve digital platforms and enhance service experience for its customers.
Bank managing director Simangolwa Shakalima said the financial institution has integrated platforms such as Zoona and ZAMTEL to enable customers to transfer money from bank accounts to the mobile platforms and vice versa. https://epaper.daily-mail.co.zm/

Source: Zambia Daily Mail

INVESTRUST invest K70m in upgrade

INVESTRUST Bank PLC has invested over K70 million in upgrading its systems so that it is able to offer efficient and improved services to customers.

Managing Director Siamangolwa Shakalima said the 100 percent locally owned bank has in the last five years heavily invested in its systems so as to offer quality services to customers.

Mr Shakalima was speaking at a customer engagement cocktail at Garden Court Hotel in Kitwe at the weekend.

He said Zambia being an economy that was largely supported by Small and Medium Enterprises (SMEs) the bank improved services to the sector.

He said the bank was committed to supporting SMEs as well as other critical sectors.

“In the last five years we have invested heavily in digital channels and if you look at our investment over K70 million to upgrade our systems including digital platforms, we offer mobile banking and an Investrust application and agency banking system,” he said.

Mr Shakalima said that his institution was also looking at enhancing capital base and with its partnership with ZCCM-IH, the bank was confident to reach higher heights.

At the same function, ZCCM-IH acting Chief Executive Officer Mavuto Chipata said the company has made a commitment to recapitalise the bank in order to address the minimum regulatory capital, liquidity and increase overall business capacity.

Mr Chipata said ZCCM-IH spent K25 million in acquiring shares in the bank, making it the largest shareholder with 71.4 percent.

He said this was part of ZCCM-IH strategy to diversify its portfolio and to tap into new sources of consistent income.

And Copperbelt Minister, Japhen Mwakalombe, said most local entrepreneurs lacked access to financial resources and commended Investrust for supporting and helping SMEs to grow.

Mr Mwakalombe said Investrust did not only support small businesses with bank services, but also technical support needed to grow businesses.

The minister said in today’s world small and medium businesses were seen more as a vehicle for entrepreneurship, contributing to employment opportunities and social stability of the economy.

He further said with over 400 employees in the country Investrust, was making its mark in improving the quality of lives of many people.


Source: Daily Nation

Investrust Bank Plc | Appointment of Directors

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 appointment of the following non-executive Directors to the board with effect from 25th March 2019:-

1. Mr. Situmbeko C. Mubano
2. Mr. Siakamwi Chikuba

Mr. Mubano holds a Bachelor of Arts in Economics & Statistics from the University of Zambia (“UNZA”) and is an economist and investment management professional with over 18 years of experience. Mr. Chikuba holds a Bachelor of Law degree from UNZA and is a legal practitioner with over 10 years of experience as a lawyer.

The Board would like to congratulate Mr. Mubano and Mr. Chikuba on their appointment to the Board and wishes them the best in their new roles.

By Order of the Board
Brian Msidi
Company Secretary

Issued in Lusaka, Zambia on 01 April 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 01 April 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


Download full announcement

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

CEC Investors in “Liquid” Windfall with ZCCM IH a Big Winner

Copperbelt Energy Corporation Plc, Energy, ZCCM-Investment Holdings Plc
Posted on February 6, 2019 at 6:59 pm.
Written by Founder Fi

Following Copperbelt Energy (CEC Plc) disposing off its 50% shareholding in CEC Liquid Telecommunication Limited (CEC Liquid Telecom) to pan-African telecoms group, Liquid Telecommunication Holdings Limited (Liquid Telecom) in October 2018, investors in the company waited with baited breath for the CFO through his subcommittee on the board to conclude deliberations for the submission of the recommended special dividend from the proceeds of the sale.

The announcement that came on 1st February 2019 of a special dividend marked a four month wait for investors. The Board of CEC approved the payment of an interim dividend of US Cents 1.9 per ordinary share which translates to ZMW 0.2267 per share according to the SENS announcement that was issued.

Investors such as ZCCM IH which has shown intent on increasing its energy investment by increasing its shareholder by 4% in November 2018, will be pleased with this development as they bought the shares at an appropriate time that will see the investment group benefit from the announcement windfall.

IDC owned ZCCM-IH now owns 24 per cent shares acquired in the November 2018 transaction. At 1.6 Billion shares in issue, ZCCM IH now owns a staggering 390 thousand shares. This translates to their payment on 4th March 2019 (the effective date of payment for the dividend) US$ 7.41 million or K 88.4 million at an exchange rate of 11.93 kwacha to a dollar.

A recap of the rationale of the investment indicates that CEC entered into a Joint Venture with Liquid Telecom as equal partners in 2011. However, 8 years later, the Owen Silavwe led management team backed by the management’s belief system of entering into a telecommunications union with Liquid Telcom led them on a path that saw the entities assets attaining the desired commercial status that was in their strategy.

Although the company does not provide clear indications as to why divesture happened last year in their statement on the disposal, Liquid Telcom’s generous acquisition now sees investors having a handsome windfall in the early months of 2019.


Source: FIZAMBIA