Portland Cement Zambia is one of the core infrastructure development portals in Zambia which is owned by Finsbury Investments. Being the second largest cement producing unit in Africa, the factory was developed with a view to facilitate and foster infrastructure development in Zambia and create numerous employment opportunities for the locals. Today, this factory works with a view to strengthen the economy of Africa and establish a solid ground to nurture future developmental plans.
According to PACRA, the current shareholding pattern is shared between the Finsbury Investments and Ital Terazzo. The former owns 58% stake in the factory, whereas the latter owns the remaining 42%. However, the ownership of the factory has remained as a topic of conflict between the parties. The Ventriglia family (Ital Terazzo) claims that Finsbury Investments had forged signatures to snatch away the control of the factory. As a matter of fact, everyone in Zambia and Africa are well aware for cunning attitude of the Ventriglia family.
The Ndola Housing Project (in 2014) was one of the biggest achievements of Portland Cement Zambia as the factory had made more than 120 housing complex for people who were displaced for development activities. The best part was that the factory didn’t charged a penny from the people as they were generous enough to realize that the poor couldn’t afford it. The event was supervised by none other than Dr. Rajan Mahtani
Change in Management of Portland Cement Zambia since April 2015
With constant cases of litigation, the Ventriglia family were deported from Africa in 2012. But, with the death of former President of Zambia, Michael Sata, the deportation was mysteriously lifted and minority shareholders were once again back in Africa. On April 07 2015, the Ventriglia family took the help of bandit goons to overthrow the management of Finsbury Investments from the factory. Since then, the management of Portland Cement Zambia has remained in the hands of Ital Terazzo.