Ndola Lawyer Zacharias Muya Arrested for Money Laundering at Zambezi Portland Cement

Zambia News

Ndola police have arrested Zacharias Muya, the croocked lawyer, for money laundering and theft involving billions of Zambain old currency as well as US dollars.

Presently, Muya is facing charges of money laundering and theft with the Italian businessmen Daniele and Antonio Ventriglia.

The money was stolen from Zambezi Portland Cement (ZPC) when the Ventriglias managed it for 3 years till 2012. Although the Ventriglias are the minority shareholders in ZPC but in 2008, they ousted the majority shareholders and it was during this time that this incident took place.

According to the audit report by Deloitte and Touche on Portland Cement Zambia, the company of Muya, Laurel Mining Equipment Limited, was paid about USD 18,764,521 but the reason why this money was paid was not shown. As per the documents of Patents and Companies Registration Office or PACRA, the main business of Laurel Mining Equipment Limited is farming. It…

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Agatha Akakandelwa working in her tomato field in Nambinji Village


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Finance Bank Zambia-The Leading Indigenous Bank Of #Zambia

Finance-Bank-of-ZambiaFinance Bank Zambia is popular in Zambia as the Finance Bank. It is one of the commercial banks in the nation. Having acquired a license from BoZ (Bank of Zambia), the bank was established twenty eight years back in 1986. Today, it has 37 branches and 16 agencies all over the nation with its head office being in Cairo Road, Lusaka. Zambezi Portland Cement Limited (ZPCL) is a subsidiary of FBZ.

The bank leverages a strong presence all over the nation in delivering an extensive range of customized financial services and core banking, with specialized financing offered through the head office of the bank.

FBZ’s mission is to be the first-rate financial services institution that has a great presence in the chosen markets and its vision is to be the bank of choice to all their stakeholders in the nation.  It presently has 600 personnel and offers a full range of banking services and products to the parastatals, public institutions and private sectors, which include the NGOs, MNCs, international investors, development and aid agencies and the major local and other finance institutions at local level.

As a financial institution in Zambia, Finance Bank Zambia very well understands the values and culture of Zambia. The continued commitment of the shareholders to the nation is demonstrated through FBZ’s emphasis on rural communities.

Here is a brief detail of the shareholders of Finance Bank Zambia.

  • Credit Suisse Investments- 40% shareholding
  • Finsbury Investements Limited-25% shareholding
  • Clarkwell Limited-25% shareholding
  • Job Albert T. Samuel-6.5% shareholding
  • Estate of the Late Pat Bwalya Puta-2.5 % shareholding
  • Patrick Chamunda-1.0% shareholding

FBZ is cognizant of the need to improve the working environment in which the staffs operate to make sure that the bank meet the rising expectation of their clients, both in terms of the physical image as well as the quality of the service. For meeting both these challenges, a staff re-training program has been started at all the levels.

Moreover, the ambitious refurbishment programme is presently underway that will facilitate customer comfort, operational efficiency and pride in the institution. Dr. Rajan Mahtani, the chairman Finance Bank Zambia, is doing a great job to make the bank reach its height of success.

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World’s Top 10 Greatest Wonders

Giant's Causeway, Northern IrelandGiant’s Causeway, Northern IrelandGreat Rift Valley, EthiopiaGreat Rift Valley, EthiopiaGreat Wall of China, ChinaGreat Wall of China, ChinaHagia Sophia, TurkeyHagia Sophia, TurkeyKilauea, HawaiiKilauea, HawaiiNgorongoro Crater, TanzaniaNgorongoro Crater, TanzaniaPotala Palace, TibetPotala Palace, TibetTaj Mahal, IndiaTaj Mahal, IndiaVictoria Falls, Zimbabwe-ZambiaVictoria Falls, Zimbabwe / ZambiaTerracotta Army, ChinaTerracotta Army, China


Photo: Dailymail.

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Tips to Save Money While Shopping Online

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Find The Best Commercial Cleaning Company in Your Area

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Contributions of Dr. Rajan Mahtani For Zambia and Its People

Dr. Rajan MahtaniDr. Rajan Mahtani is a renowned businessman in Zambia. The man is presently the chairman of Mahtani Group of Companies. The people of Zambia respect this person a lot. They know that he is the only man who stands beside them when there is a need for the development of the nation. Here we are going to discuss about his contributions towards the nation and its people.

Restoring Finance Bank’s lost glory

During Rupiah-Banda rule, the Finance Bank or FBZ was grabbed from Dr. Rajan Mahtani. It was sold to the South African financial service provider First Rand. It was only after Michael Sata, the president came in the rule Rajan Mahtani got back the bank. The bank really suffered a setback during the Rupiah-Banda rule, but after he got back the bank, he took the bank to heights of success and helped the institution to regain its lost glory. He did all this single-handedly for which he is considered as the Hero off Zambia.

Donating an ICT lab to Rusangu University

ICT lab  Rusangu UniversityPICZ donated an Information Communication Technology lab to the Rusangu University. PICZ is a company of Dr. Rajan Mahtani. Under his chairmanship, the company donated this K212000 worth lab for the educational progress of the nation. It is great of Rajan Mahtani that he thinks about the nation and its people so much. In fact, what he believes is a country cannot reach success if it lacks educational development.

Donating money to the orphanage and health facilities

Zambian-peopleDr. Mahtani recently donated money to the patients and hospital staffs at Kawambwa Hospital for festival season. For the same purpose, he even donated money to the orphans at Kachema Musuma Orphanage Centre. You will find only some people thinking about these less fortunate persons and Dr. Mahtani has proved himself one among them.

Even the Finance Bank Zambia, under Dr. Mahtni’s chairmanship donated K5, 000 to the  Maternal Health Association of Zambia (MHAZ) at a dinner hosted by the Zambian Vice President’s wife Dr Charlotte Scott on Friday 7th February, 2014. The gesture is also in line with the Bank’s Corporate Social Responsibility of supporting child health.

Drilling boreholes in the rural communities of Zambia

 boreholes in zambiaThe Finance Bank Zambia under Dr. Rajan Mahtani’s chairmanship partnered with World Vision Zambia to drill boreholes in the rural communities of the country. With the Mukango water project 11 boreholes were drilled in 11 different districts of the country. Now the people who live in those rural areas have an access to safe and clean drinking water. However, the situation was not same before. The women of the families had to walk through a long way to fetch water from the pond, which was very dirty. By drinking that water they used to suffer from waterborne diseases.

Rajan Mahtani always thinks for the betterment of the nation. He is doing all these- donating money, donating a modern computer science lab, and drilling boreholes not to be highlighted in the news; he is doing all these things to improve the lifestyle of the Zambians.

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