ZCCM-IH owns 100% shares in Kariba January 1, 2019
TRYNESS TEMBO, Lusaka ZCCM-Investment Holding (ZCCM-IH) has acquired an additional 50 percent shareholding in Kariba Minerals Limited from Gemfields Limited at a cost of US$2.5 million. The acquisition means that ZCCM-IH now owns 100 percent shares in Kariba Minerals Limited. According to the directors’ interim unaudited financial results for ZCCM-IH and its subsidiaries for the six months period ended September 30, 2018, transaction completion is subject to regulatory approvals by various regulatory bodies “Going forward, ZCCM-IH will implement a robust strategic plan aimed at improving production, processing and marketing activities to increase profitability of the mine,” the report reads. Meanwhile, plans by ZCCM-IH to acquire Kapiri Glass Manufacturing (KGM) company have been put on hold due to legal action taken against the firm by the current owners http://epaper.daily-mail.co.zm/
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