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Dolika Banda has resigned as Non-Executive Director and Board Chairperson of ZCCM Investments Holdings PLC, Zambia’s diversified mining investment entity, effective May 5, 2023.
Banda was appointed to the board of ZCCM-IH in December 2021.
According to the market update posted on Lusaka Securities Exchange (LuSE) on Monday, Banda resigned from her post on May 5, 2023.
However, the market update did not indicate her reasons for the resignation.
“The Board would like to take this opportunity to thank Dolika Banda most sincerely for her immense contribution to the Company during her tenure of office and wishes her success in her future endeavours,” it stated in an order of the Board signed by Company Secretary, Charles Mjumphi.
The board further announced the appointment of Kakenenwa Muyangwa, as Non-Executive Director and Board Chairperson with effect from May 5, 2023.
The board stated that Muyangwa was an experienced mining and financial expert with a wealth of experience of over 35 years gained from working in the international mining, metals and concentrates trading, finance, and accounting industries.
Read more: ZCCM-IH boss, Banda, urges greater participation of women in mining value chain
The Board expressed confidence that with his vast experience, Muyangwa would make a valuable contribution to the success of the company.
“Muyangwa provides interim management services and is currently engaged as a long-term consultant in the corporate turnaround of distressed companies and projects across Africa for the African Development Bank.
“Since November 2017, he has represented ZCCM-IH on the board of Mopani Copper Mines PLC, Kariba Minerals Limited and CNMC Luanshya Copper Mines PLC. In November 2021, he was appointed to the board of First National Bank Zambia Limited as a Non-Executive Director,” the board stated.
Reacting to the development, Zambia Chamber of Mines (ZCM) said it remained confident that the new ZCCM-IH Board Chair would be professional and adequately equipped with the information for the mining sector.
ZCM president, Godfrey Beene, in an interview on Monday said the Chamber was optimistic that the person who would be appointed as ZCCM-IH chair would be professional.
Beene said government always appointed people correctly and for that, the Chamber remained confident.
“ZCCM-IH plays an important role in the sector so we believe that the new chair understands that and that they will play his role professionally and adequately and that is where our confidence is.
“You see we are confident that government will again appoint the right person to takeover and obviously he will have our support,” he said.
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