“ZCCM-IH has lost its credibility at an international scene due to the corruption surrounding the public institution and will have no serious business abroad.” – Peter Sinkamba.
By Patricia Mbewe | Phoenix News.
Lusaka, May 9 – Green Party leader, Mr. Peter Sinkamba, says the resignation of Zambia Consolidated Copper Mines Investment Holdings (ZCCM-IH) Chairperson, Dolika Banda, and its delisting from the London Stock Exchange due to corruption will affect the viability of the institution.
Mr. Sinkamba says this is because the happenings are likely to see most minority investors decide to pull out of ZCCM-IH as no credible investor would want to stay when their money is at risk of being abused through corruption.
Also Read: State House forced ethical Banda to resign as ZCCM-IH Chair.
He has since called on government to get to the bottom of the challenges that ZCCM-IH is currently facing and ensure those behind the corruption are dealt with.
Mr. Sinkamba is saddened that ZCCM-IH has lost its credibility at an international scene due to the corruption surrounding the public institution and will have no serious business abroad.
Also Read: Drop the political persecution of Esther Lungu, probe the ZCCM-IH saga!
Further, Mr. Sinkamba is challenging the UPND administration under whose watch these developments have taken place to interrogate this matter especially that the thrust of its governance is premised on corruption.
The Financial Conduct Authority has temporarily suspended ZCCM-IH share listing from the London Stock Exchange effective May 2, 2023 as a result of the non-publication of audited financial results for the years 2021 and 2022 while ZCCM-IH Chairperson has resigned.
Woodpecker’s Digest is on Facebook. To follow our articles on Facebook, like our page by clicking HERE.
©2022 Woodpecker’s Digest Inc.
Putting news into perspective
1 thought on “Sinkamba calls for a thorough look at the ZCCM-IH saga!”