Africa-Press – Zambia. IDC Chairperson is President Hakainde Hichilema. Both ZSIC General Insurance and ZSIC Life are subsidiaries of the Industrial Development Corporation (IDC), which is a holding company wholly owned by the Government of the Republic and chaired by the President of the Republic of Zambia.
Since Minister of Finance Hon. Alexander Bwalya Chikwanda (MHSRIEP) re-created INDECO christened as IDC, I said there was no need for such a superstructure. I hold that it brings inherent risks to the President who already chairs the supreme organ of the State-Cabinet to chair a holding company whose business decision maybe ladden with corrupt and questionable deals and decisions. Who supervises the failures and crimes of such a holding company if the Board Chairperson is the President?
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