Zambia Consolidated Copper Mines appoints Mabvuto Chipata as new CEO

ZAMBIA – The Board of Zambia Consolidated Copper Mines Limited-Investments Holdings (ZCCM-IH) has announced the appointment of Mr Mabvuto Chipata as Chief Executive Officer of the Company, reports Lusaka Times.

Mr Chipata replaces Dr Pius Kasolo who was sacked in February this year.

In his new position, he will be mandadet to manage the KCM case in the best possible way, twisting the arm of many mining companies that have supposedly made no profit all these years and are not paying ZCCM-IH any dividends.

He joined ZCCM-IH in July 2012 as Chief Financial Officer, the position he held until early 2018 when he was appointed Chief Investments Officer responsible for the Company’s investments function.

He has over the years been involved in a number of strategic developments in the Company leading different project teams.

Prior to joining ZCCM-IH, Mr Chipata worked in various senior management positions in sectors such as money and capital markets, insurance, and manufacturing.

He has worked as Managing Director for Intermarket Securities Zambia Limited, Finance Director for ZAMPOST, Chief Operating Officer for Intermarket Banking Corporation Zambia Limited, among others.

He currently serves as a Non-Executive Director on a number of companies including Kansanshi Mining Plc and Lubambe Copper Mines Limited.

Mr Chipata is an accomplished finance and investments professional with over 20 years’ experience.

He holds a Bachelor of Accountancy Degree from the Copperbelt University and is a Fellow of the Association of Chartered Certified Accountants (UK) and the Zambia Institute of Chartered Accountants.

He is also a trained Stockbroker.

The Board says it is confident that with his experience, Mr Chipata will make a valuable contribution to the success of the Company.

Since privatisation of ZCCM, ZCCM Investments Holdings Plc (ZCCM-IH) is an investments holdings company with diversified interests in mining, energy and other sectors of the Zambian economy

It is listed on the Lusaka Stock Exchange, the London Stock Exchange and on Euronext in Paris, and has the majority of its investments held in the copper-mining sector of Zambia.

The company’s shareholders are the Government of the Republic of Zambia (GRZ), with 77.7% shareholding, and institutions and individuals, with 22.3% of shares.

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