Africa-Press – Zambia. STATE House will no longer be used for illegal deals, says Bishop John Mambo. Bishop Mambo who is a director on the Zambezi Portland Cement board, said the rule of law should be respected in any dealings going forward.
Addressing journalists in Ndola on the ownership of Zambezi Portland Cement, Bishop Mambo said the interest of the local people should come first. He explained that the company was run by majority shareholders at 58 per cent and minority shareholders at 42 per cent.
“Contrary to this assertion, the recent ruling of the Court of Appeals merely cleared the Ventriglias to pursue their applications in the Court of Appeal in relation to the quantum of the money in accordance with the judgment, and the 42 per cent share which were accorded to their family company Ital Terazzo instead of themselves in their personal capacities,” he told journalists yesterday. “The issue of the quantum is merely a debt and does not question the shareholding. As far as ownership of Zambezi Portland Cement is concerned, Finsbury Investment Limited is the 58 per cent majority shareholder. The judgment of the Court of Appeal of 31 January 2019 and the Supreme Court decision of 28 October 2020 stand as final decisions, and are not subject to any appeal in any courts.”
He said there was a lot of impunity to abuse the law in the name of connections with State House. Bishop Mambo said the use of politicians was now in the past, as the law would be followed. He said the interest of the majority shareholders was the 700 workers and not brutality as was the case previously.
“Therefore, any attempts by the Ventriglias to continue blocking the majority shareholders from having access to the cement plant using thugs and the police on a private property as they have been doing since 2015 is illegal and in violation of the rule of law,” said Bishop Mambo. “There is nothing of saying ‘we have the door to State House’ now. It is to follow the law as it is.
Using thugs like in the past will not work. The violation of the rule of law will not be allowed. The rule of law should be respected. We can’t claim to be a democracy and a Christian nation if the law is not respected. We are not saying that the minority should vacate, no! We are mindful of the workers.”
And Zambezi Portland Cement chief executive officer Phesto Musonda said the court had clearly ruled that there was no single owner of the company. Musonda said both majority and minority shareholders should work jointly and secure the interest of the workers.
