Sun, 29 Jan 2017 10:23:33 +0000 By SANDRA MACHIMA THE managing director of ZESCO is not a public official to hold shares on behalf of Zambians, says Energy Forum Zambia (EFZ) chairperson Johnstone Chikwanda Mr Chikwanda said the shares must therefore be transferred to the Industrial Development Corporation (IDC) which was the patent company. He said the forum had learnt with shock that 10,000 shares in ZESCO’s subsidiary company -Kafue Gorge Lower Power Development (KGLPDC) were allotted to then ZESCO managing director Cyprian Chirundu while 990,000 shares were allotted to ZESCO. Mr Chitundu has been dragged to court for failure to surrender 10 000 shares of Kafue Gorge Lower Power Development Corporation Limited he held in his name as managing director at the power utility firm. This is contained in a statement of claim filed before the Lusaka High Court accusing the former ZESCO chief of holding on to 10. 000 shares of Kafue […]
