Government Yet to Decide on ZCCM-IH Share Sale

Rumours have been circling that the government are looking to sell 20% of their ZCCM-IH shareholding.  However, Minister of Finance Margaret Mwanakatwe has released a statement outlining that they have set to make a decision on this.

Whilst at the PF forum in Lusaka this morning Ms Mwanakatwe outlined that the 20% stake is made up of 17% Zambian ownership and 3% French ownership.

“We are the minority ZCCM-IH; 17%, the French 3%. As they negotiate, we sought of come together with the French who also seat on board of ZCCM-IH because they own 3%,” She said.

“We are weighing the options, should we, should we not? We have not decided to sell. If a decision to sell has to be made, I will have to go to cabinet and cabinet will make that decision.”

She continued to explain that First Quantum Minerals were in fact just one of a number of companies that had expressed interest in buying the shares.