Over the past 6 weeks, the major news spreading across Zambia is of the Zambezi Portland Cement Factory based in Ndola. As per reports, there is a constant rivalry and war between the Ventriglias family and the Finsbury Investments over the factory’s ownership. As of now, Finsbury Investments are the majority stakeholders with 58 % stake. On the other hand, the Ventriglias are minority stake holders. The Finsbury Investments is owned by Dr. Rajan Mahtani thus making them the real owners of the factory. However, the Ventriglias are claiming that share-transfer certificates are forged with false signatures.
As per official PACRA records, ZPC’s legal owners are indeed Finsbury Investments. However, by taking help from some local goons and money, the Ventriglia family forcefully took over the cement factory’s management during wee hours of 7th April 2015 and since then they are publishing various articles with the help of Zambia Reports about their legitimacy over the factory. They have also claimed that Dr. Mahtani does not have any say in the factory’s management.
Insider reports also suggested that the employees were yet to receive April’s salary. They have also complained of the degrading working conditions and ill-treatment from the new managers of the factory. Their situation is pathetic and becoming worse every day. And the one and only culprit- – The Ventriglias!
**Update**
The factory is in still under the clutch of the Ventriglia family and corruption still continues to take place in the factory through offshore transfers and employee mistreatment.