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Invitation for Bids | Supply and Delivery of Brand New On-highway Vehicles ONB No.: ZCCM-IH/089/2016

  1. ZCCM Investments Holdings Plc. (ZCCM-IH) has received financing from own sources toward the CAPEX for the 2016/2017 Financial Year, and it intends to apply part of the proceeds of this financing to payments under the Contract for the Supply and Delivery of the following Brand New On Highway Vehicles:
    Lot No. Description Quantity Delivery
    1 4 x 4 Double cab (with canopy) 01 4 – 6 weeks
    2 Panel Van (Mini Bus) 01 4 – 6 weeks
  2. ZCCM-IH now invites sealed bids from eligible and qualified bidders for the Supply and Delivery of Brand New On Highway Vehicles. The delivery period is no more than six (06) weeks.
  3. Bidding will be conducted through the Open National Bidding (ONB) procedures specified in the Public Procurement Act of 2008 and the Public Procurement Regulations of 2011 and is open to all bidders from Eligible Source Countries as defined in the Bidding Documents.
  4. Interested eligible bidders may obtain further information from ZCCM-IH, K D Kabwe (Mrs.), E-mail: kabwekd@zccmnew.wpenginepowered.com and inspect the Bidding Documents at the address given below from 08:00 – 13:00 and 14:00 – 17:00.
  5. Qualifications requirements include:
    i) Experience and Technical Capacity:

    • Carried out at least two (02) contracts of a similar nature and scope in the last three (03) years;
    • Bidder to demonstrate availability of own servicing workshops in Lusaka and the Copperbelt;

    ii) Liquidity of:
    Lot 1 – ZMW520,000.00
    Lot 2 – ZMW400,000.00

  6. A complete set of Bidding Documents in English may be purchased by interested bidders on the submission of a written Application to the address below and upon payment of a non refundable fee Zambian Kwacha Five Hundred (ZMW500.00). The method of payment will be Cash or Bank Certified Cheque.
  7. Bids must be delivered to the address below at or before 10:00 hours on 23rd March 2017. Electronic bidding will not be permitted. Late bids will be rejected. Bids will be opened in the presence of the bidders’ representatives who choose to attend in person at the address below immediately after 10:00 hours on 23rd March 2017. All bids must be accompanied by a Bid Securing Declaration (in the format included in the Bidding documents):
  8. The address referred to above is:
    K D Kabwe (Mrs.)
    ZCCM Investments Holdings Plc.
    ZCCM-IH Office Park
    Stand No. 16806
    Alick Nkhata Road
    Mass Media Complex Area
    P.O. Box 30048
    Lusaka
Archived Jobs

ZCCM-IH | Job vacancies

ZCCM Investments Holdings Plc (ZCCM-IH) is an investments holding company which has a primary listing on the Lusaka Stock Exchange and secondary listings on the London and Euronext (Paris) Stock Exchanges. The Company has majority of its investments held in the copper mining and energy sectors of Zambia. ZCCM-IH’s majority shareholders are the Industrial Development Corporation (IDC) with 60.3%, Government of the Republic of Zambia (GRZ) with 17.3% shareholding. The National Pensions Scheme Authority (NAPSA) holds 15% shares while other individual and institutional shareholders numbering over 4,000 located in different parts of the world hold 7.4% shares.

The Company invites applications from suitably qualified and experienced individuals who are innovative, energetic and performance driven to fill the following positions in the Legal Directorate:

  1. Deputy General Counsel (X1) – Kitwe
  2. Legal Counsel – Compliance ( X1) – Lusaka
  3. Legal Counsel – Dispute Resolutions (X1) – Kitwe
  4. Conveyancing Officer (X1) – Kitwe
  5. Conveyancing Assistant – Matching and verification (X2) – Kitwe
  6. Conveyancing Assistant – Assignments ( X2) – Kitwe
  7. Officer Manager (X1) – Kitwe

Application Procedure

Application letters together with copies of certificates and detailed curriculum vitae should reach the undersigned by 28th February 2017.

Human Resources Manager
ZCCM Investments Holdings Plc
Mukuba Pension House
P O Box 30048
LUSAKA

Alternatively, applications should be sent to: jobs@zccmnew.wpenginepowered.com

– Download the full advert for full details
ZCCM-IH News

ZCCM-IH | Directors’ Interim Summary for Period Ended 30th September 2016

Introduction

In compliance with the requirements of the “Securities Act, Cap 354 of the Laws of Zambia” and the Listing Rules of the Lusaka Securities Exchange, ZCCM Investments Holdings Plc announces the unaudited results for the six months’ period ended 30th September 2016.

Financial Performance

The Group achieved a turnover of K65.5 million for the six-month period ended 30th September 2016 which was 49% below the turnover of K128.4 million achieved during the six months to 30th September 2015. The decrease in Group turnover was mainly as a result of a decrease in turnover for Ndola Lime Company by 46% from K116.5 million to K62.5 million for the period under review. No Dividends were earned for the period ended 30th September 2016 (September 2015: K11.9 million)…

Operations and Strategic developments

On 6th June 2016 ZCCM-IH filed a Claim Form with the English High Court to recover outstanding sums in excess of US$100 million due to it from KCM, pursuant to the terms of the Settlement Agreement entered into in 2013. On 16 December 2016, ZCCM-IH was successful in its application for default judgment. KCM was ordered to pay all sums owed to ZCCM-IH pursuant to the Settlement Agreement (plus associated contractual interest) within thirty (30) days. The total amount to be paid by KCM amounted to approximately US$103 million. KCM was also ordered to reimburse ZCCM-IH 80% of the costs it had incurred in pursuing its claim. Further directions were given to determine whether KCM made payments to Vedanta Group Companies in breach of the prohibition on doing so under the Settlement Agreement. If and to the extent it is determined that such payments were made, ZCCM-IH will be entitled to recover additional sums from KCM…

Subsequent events to 30 September 2016

ZCCM-IH also filed a Notice of Arbitration on 26th October 2016 in London against Kansanshi Holdings Limited and Kansanshi Mining PLC. Further, on 28th October 2016 ZCCM-IH commenced Legal Proceedings in Lusaka against First Quantum Limited, FQM Finance Limited, Philip K.R. Pascal, Arthur Mathias Pascal, Clive Newall, Martin R. Rowley and Kansanshi Mining PLC for various Claims arising from transactions between Kansanshi Mining Plc and FQM Finance Limited…
By Order of the Board

Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 23 January 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 23 January 2017

Related download
ZCCM-IH Interims to 30 September 2016
Investee Company News, ZCCM-IH News

ZCCM-IH | Agreement with Konkola Copper Mines PLC (“KCM”)

Following the Market Update issued on 20 December 2016 confirming that ZCCM-IH was successful in its application for default judgment against KCM, ZCCM-IH wishes to provide further details on the matter.

Pursuant to the judgment of the English Court, KCM was ordered to pay ZCCM-IH, by 13 January 2017:

  1. the sum of approximately US$103 million in respect of outstanding sums owed to ZCCMIH under a Settlement Agreement (the “Judgment Sum”); and
  2. the sum of GBP 180,000 in respect of the costs incurred by ZCCM-IH in pursuing its application before the English court.

Further, ZCCM-IH hereby advises that:

  1. KCM paid the sum of GBP 180,000 on 13 January 2017 in accordance with the Court’s Judgment; and
  2. ZCCM-IH and KCM have agreed to amend the dates by which KCM will make payments in respect of the Judgment Sum (which sum remains outstanding as ordered by the English Court).

The agreement to amend the dates by which KCM will make payments in respect of the outstanding sums owed to ZCCM-IH will be recorded in a Consent Order of the English Court.

Pursuant to the terms of the Consent Order, KCM will pay ZCCM-IH:

  1. US$ 20 million on 31 January 2017;
  2. US$ 22 million on 28 February 2017; and
  3. US$ 2,550,000 at the end of every month (commencing on 31 March 2017) until such time as the Judgment Sum has been paid in full.

The English court’s further directions to determine whether KCM made payments to Vedanta Group Companies in breach of the prohibition on doing so under the Settlement Agreement remain unchanged. If and to the extent it is determined that such payments were made, ZCCM-IH will be entitled to recover additional sums from KCM. A further announcement will be made at that time.

Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 17 January 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 17 January 2017

Corporate Announcements

ZCCM-IH | Unaudited provisional abridged results to 31 March 2016

In compliance with the requirements of the Listing Rules of the Lusaka Securities Exchange, ZCCM-IH Plc announces its unaudited provisional annual financial statements for the year ended 31 March 2016. Below are excepts from the financial statements.

Financial highlights

  • Performance of the Group continued to be impacted by low Global Copper Prices and low production. The Price of Copper on the LME further fell from US$6,052/ton at 31 March 2015 to US$4,848/ton at 31 March 2016. As a result, most of the Investee Companies recorded significant operating losses during the period. Further, the Kwacha depreciated by 48% from K7.5755/US$ in March 2015 to K11.1800/US$ at 31 March 2016. This had a significant impact on the Group results.
  • Operating loss reduced by 91% to K207 million (2015: K 2,179million). The Group’s share of losses of equity accounted investees was K2, 259 million (2015: Share of Profit K280 million).
  • Loss after tax was K2,303 million (2015: Loss K987million).
  • Total assets increased by 29% from K8, 504 million to K10, 956 million largely on account of translation differences on equity accounted investees.
  • The Ndola Lime recapitalization project underwent hot commissioning. The K651 million shareholder loan that ZCCM-IH lent to Ndola Lime Company Limited (NLC) was converted into Equity in order to strengthen the company’s balance sheet.

Outlook

The copper price has recently shown signs of recovery, and it would appear that beyond 2016 the price will continue to recover. ZCCM-IH’s investee companies that operate mines, have been undergoing restructuring in order to contain operating costs in the midst of the global copper price crunch. This should have positive results going forward, though recovery will be slow.

In order to ensure survival ZCCM-IH, continues to explore diversification. Introducing initiatives to achieve efficiencies at Ndola Lime Company Limited, investment into property and agriculture are activities expected to positively impact the Group in the medium to long term.

By Order of the Board

Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 16 January 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 16 January 2017

Related download
ZCCM-IH Abridged to 31 March 2016

Corporate Announcements

ZCCM-IH | Cautionary withdrawal announcement

In accordance with the Lusaka Securities Exchange Limited (“LuSE”) Listings Requirements, shareholders are referred to the cautionary announcement dated 7 November 2016 regarding the late publication of the Company’s results for the financial year ended 31 March 2016 and the Company not having a quorate Board.

Shareholders are advised that the ZCCM-IH Board is quorate following new appointments, and that the unaudited Provisional results for the financial year ended 31 March 2016 have been finalised and will be published on or about 16 January 2017.

By Order of the Board

Chabby Chabala
Company Secretary
Issued in Lusaka, Zambia on 16 January 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 16 January 2017

Corporate Announcements

ZCCM-IH | Notice of change of Directorate

ZCCM-IH wishes to announce the appointment of three (3) Directors to the Board with effect from 15th December 2016. These appointments have been made subject to ratification by ZCCM’s shareholders at the next Annual General Meeting.

The appointed directors and their brief profiles are:-

  1. Mr Fredson Kango Yamba:- Appointed as Non-Executive Director and Vice Chairperson.

    Mr Yamba is currently serving as Secretary to the Treasury in the Ministry of Finance. Mr Yamba’s career spans over thirty years mainly in the Civil Service. Prior to his appointment as Secretary to the Treasury, Mr Yamba was Director at the National Institute of Public Administration (NIPA) under the Research, Consultancy and Development Division.Mr Yamba has worked at the Ministry of Finance in various portfolios including Chief Budget Analyst and Acting Director. He also served as Director in the Ministry of Commerce, Trade and Industry in the Planning and Information Department. He has, in the past, provided consultancy services for different Ministries including Education, Judiciary and Finance.

    Mr Yamba has vast experience at serving as Non-Executive Director on various Boards and currently serves as Director on Mofed (Chairperson), Bank of Zambia, Zambia Revenue Authority and the Millennium Challenge Corporation (Chairperson). Mr Yamba holds an MSc in Development Finance and a Bachelor’s Degree in Economics and Public Administration. He has also received various training and certification in Budgeting in the Public Sector, Investment Appraisal and Management and Macroeconomic Policy Management from the Harvard University, USA.

  2. Mr Paul Mbotwa Chanda:- Appointed as Non-Executive Director.

    Mr Chanda is Permanent Secretary in the Ministry of Mines and Minerals Development. He has worked in the Public Service since 1995 and held various positions including that of Chief Human Resources Management Officer in the Ministry of Finance and Assistant Director, Human Resources and Administration at Cabinet Office among others. Mr Chanda previously served as Non-Executive Director on the ZCCM-IH Board from November 2014 to July 2016. He has extensive experience serving on Boards of Directors having being a Non-Executive Director on various Boards including ZESCO, Indeni Oil Refinery and Zambezi River Authority.

    Mr Chanda holds a Master of Arts Degree in Public Sector Management and a Bachelor of Arts Degree in Public Administration.

  3. Mr Mateyo Cresta Kaluba:- Appointed as Non-Executive Director.

    Mr Kaluba is currently the Acting Chief Executive Officer of the Industrial Development Corporation Limited (IDC) of Zambia. Mr Kaluba has experience in industrial development policy and planning, economic policy and planning; strategic planning; policy research; and monitoring and evaluation. He has served in senior positions in the Public Service including, Director Planning and Information in the Ministry of Commerce, Trade and Industry; Interim Director, Business Regulatory Review Agency; Advisor to the Chief Executive Officer on Policy & Strategy – IDC and Special Assistant to the Minister of Commerce, Trade and Industry.He has served as a Board Member on various public and private institutions.

    Mr Kaluba holds a Master’s Degree in Public Administration, a Master’s Degree in Business Administration and a Bachelor’s Degree in Business Administration. The ZCCM-IH Board is confident that the appointed Director’s will use their vast knowledge, skills and qualifications to add immeasurable value to the Company.

By Order of the Board

C Chabala
Company Secretary

Issued in Lusaka, Zambia on 10 January 2017

Lusaka Securities Exchange Sponsoring Broker
T | +260-211-232456
E | advisory@sbz.com.zm
W | www.sbz.com.zm
Stockbrokers Zambia Limited (SBZ) is a founder member of the Lusaka Securities Exchange and is regulated by the Securities and Exchange Commission of Zambia

First Issued on 10 January 2017
Annual Report Summaries

CEC Extract from 2016 Annual Report

The group’s revenue increased from K4, 339.9 million (US$667.2 million) for the year ended 31 March 2015 to K6, 392.5 million (US$647.1 million) for the year ended 31 March 2016. The increase in revenue was driven by the improvement in the average billing efficiency at Abuja Electricity Distribution Plc (AED). The group posted a net loss of K2, 236.3 million (US$226.4 million) (2015: K1, 283.1 million (US$197.3 million). The net losses were driven by provisions for bad debt totalling US$94.5 million and impairment charges on property, plant and equipment of US$86.1 million at AED.

Copperbelt Energy Corporation Plc’s (CEC) revenue decreased insignificantly to K2, 875.7 million (US$291.1 million) (2014: K1, 898.6 million (US$291.9 million). Total energy sales to the mines was 2.8% lower at 4,092GWh (2014: 4,208GWh) due to the national energy deficit and the falling prices of copper on the world market, which negatively impacted operations at
the mines.

The net profit for the year was K390.2 million (US$39.5 million) (2014: K218.5 million (US$33.6 million) due to increase in power trading at K236.1 million (US$23.9 million) (2014: K68.3 million (US$10.5 million) through the Southern African Power Pool (SAPP) Day Ahead Market. SAPP is the regional organisation of power utilities within the Southern African Development Community (SADC) formed in 1995 and whose aim is to create a competitive regional electricity market for all SADC Member States. Power trading revenue was recorded as part of other income and was not yet classified as a core business activity in the normal course of business.

The CEC share price on the LuSE moved from K 0.63 as at end of March 2015 to K 0.72 at end of March 2016, representing capital gains of 14.29% year-on-year.

For the period under review, CEC paid out a total of K184.5 million (US$16.4 million) (2015: K90 million (US$14 million) in dividend payments. ZCCM-IH’s share was K36.9 million (US$3.28 million) (2015:K18 million).

Download Full Report
ZCCM-IH News

ZCCM-IH Corporate Newsletter | The Giant Awakens – Issue One

Dr. Pius Kasolo

Message from the CEO

It is with great pleasure that I present you with this very first edition of ZCCM Investments Holdings Plc (ZCCM-IH) corporate newsletter. The purpose of this newsletter is to provide you with updates on recent developments, advancements and various other activities happening within the Company.

ZCCM-IH TRANSFORMED from being a mining conglomerate that operated all mines in Zambia prior to privatization in 2000, into an investment holding company with diversified interests in commodities such as copper, cobalt, gold, coal, gemstones, energy and limestone, among others. We have a vision to contribute towards the economic growth of the country through industrialization and diversification.

Because of the cyclical nature of the mining industry, ZCCM-IH is actively pursuing investment opportunities beyond mining, in order to diversify into other sectors.

I am confident that ZCCM-IH is on the right track towards creating and maximizing shareholder value through our diversification efforts. These efforts lay the foundation by which we as a Company can build wealth and create opportunities for the benefit of our shareholders and the country at large.

We have taken specific steps to achieve this, the latest being the inauguration of the Maamba Collieries Thermal Power Plant (TPP) Unit 1 (150MW) of 300 megawatts (MW), which was synchronized to the national grid in July 2016. Together with our partners, we have invested close to USD $850 million in this project, that will go a long way in reducing the Country’s power deficit of over 1, 000 MW. The remaining unit – 150MW of the TPP, will also be put on line by end of this year.

I must hasten to say that these are challenging times for ZCCM-IH, as Copper mining represents more than 90% of our investment assets. As you may be aware, the past few years have been very difficult for the extractive industry, particularly the mining sector. We have witnessed low copper prices in the sector, slumping by about 30% at the beginning of 2015, dropping to six-and-a-half year low. This, coupled with the power deficit depressed the industry further.

Because of the cyclical nature of the mining industry, ZCCM-IH is actively pursuing investment opportunities beyond mining, in order to diversify into other sectors such as energy, agriculture and real estate, so that the Company can create and maximize shareholder value. For us, a multi-sector approach is an important part of our resilience, and we believe this approach presents ZCCM-IH as an investment gateway not only into Zambia’s mining sector, but into other sectors as well…

Industry News

Zambia scraps planned import duty on copper concentrates

LUSAKA Dec 21 (Reuters) – Zambia will scrap a plan to impose a 7.5 percent import duty on copper concentrates from Jan. 1, Finance Minister Felix Mutati said on Wednesday.

“We have taken the decision that the 7.5 percent be deleted,” Mutati told parliament.

Industry has complained that the planned tax would have put a kink in the global copper supply chain by forcing neighbouring Democratic Republic of Congo to send surplus mine output elsewhere. (Reporting by Chris Mfula; Editing by Ed Stoddard and Joe Brock)…

Source: Reuters Africa