By CHARLES MUSONDALUSAKA businessman Chanda Katotobwe has testified that Marshlands Consortium was not there when he and previous owners of Ultimate Insurance started the transaction of selling the company to him.Mr Katotobwe told Lusaka Magistrate Alice Walusiku yesterday that after he paid K300, 000 down payment, of the K1.5 million purchase price to the company’s previous owners Maybin Silavwe, Klein Siampongo, and Justin Phiri, the latter started exiting the company.He said he then chaired a meeting at Ultimate Insurance where Richard Lubemba and Nachi Musonda were present but he did not know if they attended the meeting in their capacity as Marshlands Consortium representatives.On Monday, Mr Katotobwe said he decided to buy Ultimate Insurance for his wife Felicitas Chibamba after Lubemba and Musonda approached him that there was an existing insurance company being sold.He said this was after Lubemba had earlier proposed to him that they setup a joint insurance company as his contract of […]
‘MARSHLANDS WAS NOT PARTY TO ULTIMATE INSURANCE PURCHASE’
