LAFARGE OFFLOADS MBEYA CEMENT SHARES

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 BUUMBA CHIMBULU writes

@SunZambian

LAFARGE Zambia Plc has reached an agreement with Pan African Cement Limited to dispose of 14 per cent shareholding in Mbeya Cement Limited in Tanzania for K26.221 million.

According to a notice of advice to the shareholders and the market participants, Lafarge would dispose of 14 per cent shareholding Mbeya in Tanzania to Pan African, the majority shareholders in Lafarge, for consideration of K26.221 million.

As at May 14, this year the market value of Lafarge Zambia was K660 million, according to the notice of advice posted on the Lusaka Securities Exchange (LuSE).

Accordingly, the percentage ratio of the consideration K26.2 to the market capitalisation of Lafarge Zambia was four per cent.

It stated that the 14 per cent stake was acquired in 1998 for consideration of over K4.7 billion.

However, since the acquisition, Lafarge has not received any dividends but the value of the investment has increased.

Accordingly, the Board proposed the disposal in order to realise the capital gains.

“Shareholders are advised to exercise caution when dealing in the company’s securities until completion of the transaction which is expected on May 24, 2021,” it stated

COUNCILLOR OF THE WEEK

Adrian Banda seeks comeback

PF re-adopts former Ngwerere Ward 19 Councillor

NOEL IYOMBWA writes

@SunZambian

I am re-contesting my seat as councillor for Ngwerere Ward 19 so that I continue pushing for development in the ward and Mandevu constituency, aspiring Councillor Adrian Banda has said.

Mr Banda said that his love for people of the ward and constituency has made him to continue as a councilor and serve the people of Mandevu.

Mr Banda said that he will continue engaging the people of Mandevu constituency and Ngwerere Ward 19 in ensuring that the lives of the people are improved.

He said that during his tenure of office with the support of the outgoing Member of Parliament Jean Kapata and other councilors, he , tried his best to deliver development to the people.

“In my last term of office working together with former member of parliament Jean Kapata we tried by all means to bring development in the area and I hope that people vote for me and the adopted member of parliament Christopher Shakafuswa and President Edgar Lungu so that we continue delivering what we promised the people,“ he said.

He said that development can only be guaranteed once people continue with the current government under the Patriotic Front.

Last Wednesday, Mr Banda filed his nomination under the Patriotic Front (PF) ticket at Ngwerere Primary school where the Electoral Commission of Zambia had set up a nomination centre.

Adrian Banda was born in Lusaka in 1983 and is married.

He said he joined politics through people in the community particularly from the church, Roman Catholic.

“This was because of the commitment I had with the people. So members of the community came to me and told me that there is proposal that I stand as a civic leader,” he said

“It is my nature to help the people in the community. I told them I will think about it and later I applied and I was adopted to stand in garden compound though I was not raised in the area but I assured the people that the problem they were facing are the same in other compounds.

“Then in 2016 I was elected as the area councillor where I got 10,197 votes.”

In a previous interview, he attributed his achievements in hi was to having worked in line with the PF manifesto which is pro poor.

“I looked at water, clinic and empowerment. So far so good. I have been working hand in hand with the area member of parliament, whatever I do I always consult her.

“We have achieved a lot, in Garden compound we didn’t have Kanele Road and that’s where a lot of people stay and they didn’t have a road so I looked at it and government gave us a road. Second, there is Pendela Road. Since 1964 that road has never been worked on. It was unpassable so the same year we worked on it. Soon it will be handled over. Third, through the ministry of Lands we promised title deeds to the people.

He said when taking up offics some of the challenges faced were that people did not have patience, as they wanted development to take place within in a fortnight.

However, Mr Banda is focused on serving the people of Ngwerere Ward to ensure they benefit from the local government development agenda.

“I want to learn more about local government. What I want is to provide leadership at grassroots,” he said.

He takes pride in having been a businessman that has created employment for youths.

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