The Zambezi Portland Cement factory based in Ndola has been destroyed with impacts such as corruption and loot. Needless to say, the present management under Ital Terrazzo has no intent of running the factory. Their main objective was to come in Zambia and loot the resources and cash that was previously nurtured by Finsbury Investment. This is why we have seen episodes like termination of employees and transfer of factory assets to dummy companies.
The Ventriglia family, owner of Ital Terrazzo Limited, has a long history of conspiracy and were previously banned from Zambia. It is still unclear about their return after Michael Sata’s death. The return was marked by a Mafias style takeover of the factory where the early hours of the day on April 7 witnessed a horrific gang up of goons outside the premise of Zambezi Portland Cement. Then the existing management was thrown out of the factory and the fortune of the factory changed forever. Management personnel did have the courage to show Court’s notice, but the same torn into pieces and then thrown at the face of the person showing the same.
Since the takeover, Zambezi Portland Cement factory became a place of misery for the workers as well as Ndola. The production went down at a rapid pace and then there was constant cash withdrawal from the factory cash box. Within a matter of few months, it was heard that the factory was terminating workers from the factory on account of having insufficient work. On the other hand, dummy companies such as Astrea Investments and Miloto Transport are constantly acquiring the assets of the company with a view to bring them under the control of the Ventriglia even after they get removed legally from their seats.
Thus, we find that Zambezi Portland Cement factory has been constantly abused by Ital Terrazzo Limited and the Government has bluntly ignored the whole scenario.