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  ZCCM company press release from 23/10/2023

  23/10/2023 - 15:10

ZCCM-IH Notice of Change in Directorate_Vice Chairperson


(the “Announcement”)


Incorporated in the Republic of Zambia
Company registration number: 119540000771
Share Code: ZCCM-IH
ISIN: ZM0000000037


Pangaea Securities Limited

[a member of the Lusaka Securities Exchange]

Regulated and Licensed by the Securities and Exchange Commission Zambia

Telephone Number: +260 211 220707 | Website: 


Approval for this Announcement has been granted by:

  • The Lusaka Securities Exchange (“LuSE”)
  • The Securities and Exchange Commission Zambia (“SEC”)


The announcement contained herein contains information that may be of a price sensitive nature.

Investors are advised to seek the advice of their investment advisor, stockbroker, or any professional duly licensed by the Securities and Exchange Commission of Zambia to provide securities advice.

ISSUED ON: 23 October 2023


[Incorporated in the Republic of Zambia]

Company registration number: 119540000771

Share Code: ZCCM-IH

ISIN: ZM0000000037

[“ZCCM-IH” or “the Company”]


In compliance with the Securities Act No. 41 of 2016 and the Listing Rules of the Lusaka Securities Exchange (“LuSE”), the Board of ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) hereby announces the retirement of Mr Brian Nalishuwa as Non-Executive Director of the Company effective 10th October 2023. Mr Nalishuwa served as Non-Executive Director of ZCCM-IH since December 2022. The Board would like to take this opportunity to thank Mr Nalishuwa for his immense contribution to the Company during his tenure of office and wishes him success in his future endeavours.

Further, the Board is pleased to announce the appointment of Mr Mubita Akapelwa as Non-Executive Director and Board Vice Chairperson with effect from 10th October 2023.

Mr Mubita Akapelwa is an independent management consultant and a director at Mukuyu Energy Limited. He holds an MBA in Corporate Finance and a Bachelor of Science (BSc) in Mechanical Engineering from the United Kingdom. Mr Akapelwa has 34 years of rich experience in the mineral, energy, retail and distribution sectors. He has served in top leadership roles as the Regional Manager for Chevron Central and Southern Africa (Retail), covering Zambia, Botswana, Namibia, Malawi and Zimbabwe, and held the position of Chief Executive Officer of Engen Petroleum Tanzania Limited.

In addition Mr Akapelwa has broad exposure and experience in dealing with public and private sector stakeholders in the East African Community (EAC) and Southern Africa Development Community (SADC) regions. He has also served as the Chief Executive Officer of Engen Petroleum Tanzania Limited (EPT),as Non-Executive Chairman of the Board of the Tanzania Association of Oil Marketing Companies and on the Board of Directors of the Petroleum Importation Coordinator Limited (PICL) during the transition from an own importation system to the more structured Bulk Procurement System (BPS). 

Mr Akapelwa is a Board Member of ABSA Zambia Plc and the Lead Consultant for BPI Advisory Services. He also currently serves as a Board Member of St Ignatius College. He is a member of the Institute of Directors of Zambia (IODZ) and an Associate of the Chartered Institute of Arbitrators (UK).

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

By Order of the Board

Charles Mjumphi

Company Secretary

Lusaka, Zambia - 23 October 2023

Sponsoring Broker

Pangaea Securities Limited

(Member of the Lusaka Securities Exchange)

(Regulated by the Securities and Exchange Commission)


Tel: +260 (211) 220 707 or 238 709 / 16 Fax +260 (211) 220 925 

First Floor, Pangaea Office Park, Great East Road, P.O. Box 30163 Lusaka, Zambia

First Issued: 23 October 2023

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  Original Source: ZCCM