The fight for Portland Cement Zambia has been constantly in the news since 2008. Nobody can actually conclude which party is right and who has been the real culprit behind this chaos.
However, there are certain things that we all can conclude from this fight. They are:
- Zambia Reports is funded by the Ventriglias– We all have seen that Zambia Reports has played an active role in letting the people know about the state of affairs in Ndola. A point worth noticing is that it has always written against Dr. Rajan Lekhraj Mahtani. Irrespective of whether the ZPC is suffering or not performing, the culprit has always been the former Finance Bank Chairman.
- Finsbury Investments is the actual owner, but only on papers– When it comes to determining the actual owners of the ZPC, PACRA suggests the name of Finsbury Investments. In reality, the management of the ZPC is now being managed by the Ventriglia Family because, they managed to take over the management by force on April 7 2015. Since then, it has been all about looting factory cash and abusing labour rights.
- Zambia Reports faces Closure, soon– The latest twist in this fight is Zambia Reports’ shut down. There have been reports that Clare Locke LLP has written to GoDaddy in respect of the defamation campaign and law violation which the infamous news portals has been making. Though there hasn’t been any answers from GoDaddy, it is being expected that the outcome will be in favour of Clare Locke LLP as they have a valid point. (See the letter here)
Portland Cement Zambia is the second-largest cement factory in Africa and generates about USD $ 5 Million on a monthly basis. With such massive cash inflow, it is expected that the minority shareholders will continue to make nuisance and make fake claims.