Tag Archives: Chairman Finance Bank Zambia

Mahtani Group of Companies

Honourable Forbes Award For Philanthropy Given To Dr. Mahtani

The Forbes-FIN philanthropy and leadership award was recently held in Africa. It is one of the most anticipated and noted business events in Africa. The event was halted as a result if the ongoing Covid-19 pandemic. However, the Forbes-FIN (Foreign Investment Limited) philanthropy and leadership roundtable conference was held in the year 2021 in a virtual manner. Members participated in the event from their respective locations. Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist from Zambia, was also invited in this event as an honorary speaker and discussed about the significance of leadership in healthcare. Just like Dr. Rajan Mahtani, several other members participated in this event. These included members from international business committees, political leaders, opinion leaders, spiritual leaders as well as media partners and international investors.

Just like the Forbes-FIN philanthropy and leadership event, Dr. Rajan Lekhraj Mahtani was also part of the Forbes ‘Best of Africa’ awards ceremony. This award ceremony was a part of the Forbes-FIN philanthropy and leadership roundtable conference. The Forbes ‘Best of Africa’ awards is among the most prestigious and notable business and philanthropy awards in Africa. It is presented to leading lights in the field of philanthropy and empowerment. The awards hold high importance as not only they are presented by Forbes which is among the top business magazines across the globe, but also for their transparent and rigorous selection process. The awardees are selected after months of verification processes and background checks. This is followed by interviews and discussions regarding the viewpoints and long-term perceptions among the potential candidates regarding philanthropy as a means to achieve long-term empowerment across Africa.

Based on these selection criteria, Forbes recognised the significant contributions made by Dr. Rajan Mahtani, especially towards redefining the banking sector of Zambia. As such, Forbes conferred Dr. Rajan Mahtani with the ‘Outstanding Entrepreneur of the Year’ award 2021. Dr. Rajan Mahtani accepted the award, thanking Almighty God as well as his team for their support.

Dr Rajan Lekhraj Mahtani

Dr. Mahtani Honoured With Notable Forbes Honour

Zambians are well-aware of Dr. Rajan Lekhraj Mahtani, a noted businessman and celebrated philanthropist from Zambia. Dr. Mahtani was recently recognized for his contributions to the Zambian nation. Forbes is a leading commercial enterprise magazine across the globe and is thought for supplying several lists of powerful men, companies, celebrities, and other ranks. Comparably, Forbes in Africa is thought for its Forbes ‘Best of Africa awards. These awards are presented to businessmen, marketers, and visionaries with a long-term vision toward philanthropy to reap empowerment across the African subcontinent. The 2021 Forbes ‘Best of Africa’ awards were presented during the yearly FIN (Foreign Investment Network) philanthropy and leadership roundtable conference. This year, the leadership roundtable conference was held virtually to comply with the social distancing and lockdown regulations because of the continuing coronavirus pandemic. Dr. Rajan Lekhraj Mahtani was invited to this occasion as an honorary speaker and spoke approximately the significance of management in healthcare.

Dr. Rajan Mahtani was recognized via Forbes for his substantial contributions to the Zambian financial system and society. Forbes conferred Dr. Mahtani with the Forbes ‘Outstanding Entrepreneur of the Year’ 2021 award for his good-sized contributions toward redefining the banking area of Zambia. Dr. Rajan Mahtani prevalent the award in a humble manner and thanked Almighty God for providing aid and strength throughout suitable instances as well as for the duration of horrific times in his expert profession and personal life. Similarly, Dr. Mahtani also thanked his team for his or her committed motivation closer to reaching fulfilment in all his endeavours. Dr. Mahtani is the proprietor of numerous pinnacle organizations along with Mahtani Group of Companies and Prison Fellowship Zambia. At the identical time, Dr. Mahtani is also known for his enormous philanthropic contributions. For example, he is the founder of Prison Fellowship Zambia which focuses on the welfare of Zambian inmates. Dr. Mahtani additionally advanced the Stephen Malama award and scholarship for pinnacle regulation graduates in Zambia.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Honored With Top Forbes Award

Dr. Rajan Lekhraj Mahtani, the prominent Zambian businessman and philanthropist, was recently conferred with one of the top philanthropy and leadership awards of Africa. For his significant contributions especially in the banking sector, Dr. Mahtani was conferred with the Forbes ‘Best of Africa’ award ceremony. It was one of the most critical and anticipated award ceremonies hosted for African businesses, entrepreneurs, and visionaries. Dr. Rajan Mahtani was conferred with the Forbes ‘Outstanding Entrepreneur of the Year’ award 2021. Dr. Rajan Mahtani humbly accepted this award and dedicated it to Almighty God as well as his team for their dedication and passion.

Apart from Dr. Rajan Mahtani, there were several other businessmen, entrepreneurs, and visionaries who received prestigious awards for their significant contributions to philanthropy. Some of these winners included Paul Adefarasin, Wendy Ackerman, Nana Kwame Bediako, Sam Matekane, Leonard NS Ekeh, Ken Sharpe, Claver Gatete, and Mahmood Ahmadu. Ken Sharpe rose to prominence with his numerous businesses, especially in the infrastructure and real estate sector. Like Dr. Mahtani, Mr. Mahmood Ahmadu is known as one of the leading entrepreneurs & philanthropists from Africa. Similarly, Sam Matekene and Nana Bediako have made a name for themselves with serial entrepreneurship, as well as being one of the top noted visionary, industrialists, and philanthropists across Africa. Therefore, it can be said that it is good that there are so many entrepreneurs, businessmen, and visionaries who are working hard and thinking about the welfare of the African nation, just like Dr. Rajan Mahtani. However, the event also highlighted the need for many more hands as well as investment to achieve the African development goals. The event further highlighted the fact that several entrepreneurs and visionaries are not able to make their dreams a reality due to a lack of financial support, funds, investment, or subsidies. In such a scenario, events like Forbes-FIN play a crucial role in gathering funds and financial support for these such visionaries and budding entrepreneurs.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Wins The Prestigious ‘Best Of Africa’ Award By Forbes

The Forbes ‘Best of Africa’ is a prestigious award which is presented to entrepreneurs and businessmen achieving significant distinction in their businesses and field. The 2021 Forbes BOA (Best of Africa) awards were recently presented to some of the top entrepreneurs and businessmen from Africa, from different field and functions such as business, innovation, politics, economy and leadership. Considering the ongoing pandemic and everything going online, the honours were presented to the recipients at the FIN (Foreign Investment Network) Leadership & Philanthropy Roundtable conference that was recently held via a virtual meeting.

Dr. Rajan Lekhraj Mahtani was not only one of the speakers in the virtual conference, he was also bestowed with the ‘Best of Africa’ Forbes Distinction Certificate for his outstanding entrepreneurial and business contributions to the Zambian society as well as upholding the spirit of the Zambian nation. Dr. Rajan Lekhraj Mahtani has been working tirelessly for more than three decades, and the objective has always remained same- to take Zambia to greater heights. He is a successful serial entrepreneur and businessman with numerous top institutions under his name, including but not limited to Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charitable and philanthropic activities across the Zambian nation such as funding correctional facilities as well as contributing to the Zambian education with the establishment of Steven Malama award including significant financial funding for top law graduates in Zambia. The major crust of the round table conference was the positive impact of business, politics and leadership on the economic landscape across Africa. Top bureaucrats, businessmen and entrepreneurs presented their views on the current landscape and scenario of Africa, the positives and negatives as well as the significant need of the hour for making the requirement improvements across the nation’s economy. Furthermore, the awards presented to the recipients were selected after several months of intensive research as well as thorough verification exercises by the Forbes and FIN.

Rajan Mahtani and Portland Cement Zambia

Dr. Rajan Lekhraj Mahtani To Approach London High Court

One of the most notable and respected businessmen in Zambia, Dr. Rajan Mahtani recently hired reputed international law firm Omnia Strategy. The reason behind hiring of this law firm was a claim against Atlas Mara, a controversial banking and financial institutions in Zambia and in Africa established by even more controversial businessman Bob Diamond. Atlas Mara was established in the year 2013 with the objective of becoming banking giant in Africa. Atlas Mara under Bob Diamond went through several acquisitions in the following years since its establishment. One of these acquisitions was Finance Bank Zambia, a banking and financial institution established and led by Dr. Rajan Mahtani. The Finance Bank Zambia was taken over by Atlas Mara via an original share and sales agreement. However, according to the claim made by Dr. Rajan Mahtani, Atlas Mara did not honour this claim and Dr. Mahtani is still awaiting payment against the shares sold to Bob Diamond. On top of that, representatives from Atlas Mara alleged the claims made by Dr. Rajan Mahtani to be unsubstantiated.

Bob Diamond is a controversial businessmen who took over control of Dr. Mahtani’s Finance Bank Zambia in the year 2013. This was the time when Bob Diamond re-entered in Zambia after being ousted from CEO position at Barclays in 20132. This ouster was due to the infamous Livor-Rigging scandal in which Bob Diamond’s name emerged.

According to the claim established by Dr. Rajan Mahtani, Atlas Mara still owes him money from share sales of the Finance Bank Zambia. Apart from Dr. Rajan Mahtani, there are several other investors who are pursuing similar damage claim to the tune of 100 million euros. Since 2013, Atlas Mara shares have collapsed significantly. Despite stepping down as its Chairman in 2019, Diamond remained the non-Executive Director as well as largest shareholder of Atlas Mara. The claim by Dr. Rajan Mahtani comes at a time when Bob Diamond is attempting yet another comeback supported with USD 4.5 billion space-listing. Dr. Rajan Mahtani is expected to produce his case at the London High Court soon.

Mahtani Group of Companies

Dr. Mahtani Ready With His Case, To Approach London High Court Soon

Dr. Rajan Lekhraj Mahtani is a respected businessman and philanthropist in Zambia. For more than three decades, Dr. Mahtani has been building successful organizations, businesses and ventures across the nation. He is also known for his significant charitable and philanthropic contributions for the economic and social development of the Zambian nation. Yet, Dr. Rajan Mahtani and similar other transparent and ethical businessmen in Zambia are continuously facing challenges and issues while establishing their businesses and continuing their operations. Dr. Rajan Mahtani recently approached international law firm Omnia strategy with a case of non-payment of dues against Atlas Mara. According to the claim established by Dr. Rajan Mahtani, Atlas Mara, a banking and financial institution conceptualised by Bob Diamond, failed to honour the agreement terms established between the bank and Dr. Rajan Mahtani’s Finance Bank Zambia. By breaching this agreement, Atlas Mara is liable for penalties as well as suing.

Bob Diamond is a controversial businessman due to his several connections to national scandal. The businessman had to step down from the position of Barclay’s CEO (Chief Executive Officer) after the 2012 Libor-Rigging scandal. However, he again entered the Zambian corporate in the year 2012 with his newly established banking institution Atlas Mara and his bold plan of becoming banking giant in Africa. With this mission, Bob Diamond’s Atlas Mara went on a shopping spree, acquiring several small and big banking and financial institutions in Zambia. One of these acquisitions was Dr. Rajan Mahtani’s Finance Bank Zambia which took place in the year 2015.

Regarding the claim established by Dr. Rajan Mahtani, Atlas Mara representatives have confidently said that the claim by Dr. Mahtani was without any merit. However, the reports and the timeline says otherwise. Along with Dr. Rajan Mahtani, there are several other investors who are also pursuing damages worth more than 100 million euros against Bob Diamond’s Atlas Mara. Dr. Rajan Mahtani will soon present his case at the London High Court via his hired law firm Omnia Strategy.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani To Remain The Legal Owner Of The Portland Cement Factory, Confirms Supreme Court

The Portland Cement Zambia factory is one of the most disputed factories in Zambia. Since the occurrence of the major shareholding re-organization associated of Portland Cement, the factory is being constantly disputed for its ownership. One of the most controversial aspects associated with this factory is that despite having all evidences and testimonials, the actual owner had to fight for more than a decade to receive justice. In the year 2007, the shareholding of Portland Cement was re-organized via on original shareholding agreement. Based on this agreement, Dr. Rajan Mahtani owned Finsbury Investment received 58 percent shares and became the majority shareholder of the factory. According to this same argument, the Ventriglia owned Ital Terrazzo Limited held 42 percent shares and was announced as only minority shareholder of the factory. After finalization of this shareholding pattern, Finsbury Investment secured loan from PTA bank for completing the factory’s construction and also procured further funds for starting a growth plan for the factory.

In this latest plan, the Ventriglia family disputed the legality associated with the original shareholding agreement and even influenced the decision of the Lusaka High Court when the case of Ventriglia family illegally taking over the factory was approached at the Court. This was done by political meddling, corporate criminality, bribery and similar activities which are common traits for them. After Lusaka High Court judge announced Ventriglias as the only shareholders of Portland Cement, Dr. Mahtani approached the higher Court of Appeal and received justice on 31st January 2019 when higher Court of Appeal judge Mwinde reversed the Lusaka High Court decision and announced Dr. Mahtani as the only majority shareholder and legal owner of the factory.

The Ventriglia family recently approached the Supreme Court claiming that the decision by the Court of Appeal was wrong. However, the Supreme Court bench thoroughly evaluated the claim and found it to be legally and evidentially invalid. As such, it was rejected.

Rajan Mahtani and Portland Cement Zambia

Dr. Rajan Mahtani’s Contribution Praiseworthy, Writes Top Graduating Law Student From Ziale

Apart from this successful business practices, Dr. Rajan Lekhraj Mahtani has established numerous philanthropic and charitable activities for himself. Most of these philanthropic and social responsibility activities go unnoticed as unlike other companies and businessmen, Dr. Mahtani hardly promotes or highlights his contributions in the media. Recently, an article was released at the Daily Mail in which the top graduating student from the ZIALE thanked Dr. Rajan Mahtani for his significant contribution to the educational society.

The award was launched in the year 2012 by Finance Bank Zambia whose chairman is Dr. Rajan Lekhraj Mahtani. This award was launched for honouring memory and legacy of late Steven Mwaba Malama, who does in the year 2012. Steven Malama was a notable legal architect of Zambia and was esteemed member of the bar. Steven Malama has been described as distinguished law professional, Bar luminary and role model for many in the legal society. He was also a good friend of Dr. Rajan Mahtani and to honour his contributions to the society, this award was established. The award is presented to the top graduating student from ZIALE (Zambia Institute of Advanced Legal Education). ZIALE is one of the top law colleges in Zambia and the award goes to students qualifying for Bar admission in their first attempt.

Emmanuel Bwalya Kaluba won the award for the year 2018-19. To share his gratitude, an article was penned down by Emmanuel which thanked Dr. Rajan Mahtani for his significant contribution to the legal students. Apart from the prestigious award which in itself is a distinguished achievement, the winning student will also receive a certificate, a plaque as well as an award money worth K15,000. The award has been established as a long-term opportunity for students and is presented at the yearly Gala Dinner for LAZ. Despite the various difficulties and challenges, Dr. Rajan Mahtani continues to work for the development and betterment of the Zambian society and its people.

Money Laundering

Top Lawyers Charged With Corruption, Money Laundering As Per Fic Report

Looking at the latest money laundering allegations made by the Financial Intelligence, it can be easily said that the corruption and illegal practices across Zambia are not yet over. Zambia as a nation is continuously trying to improve. At the same time, there are individuals and groups who are pushing this growth backward with their illegal and unethical practices. As per the reports revealed by FIC, top lawyers and legal counselors in Zambia have been caught laundering money for illegal and unethical activities. The amount of money uncovered till now is a staggering USD 1.5 billion. However, the FIC has suggested that the actual money involved is much more and beyond imagination.

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Money Laundering

Mass Money Laundering Bust Shocks Zambia, Top Zambian Lawyers Accused

Financial Intelligence Centre recently announced a mass money laundering racket in Zambia. The worst part of this money laundering racket was the involvement of top lawyers, legal counsellors, government contractors and even government ministers. On top of this, the citizens and industrialists alike are shocked how this money laundering act undergoing was unnoticed from the scrutiny of the Zambian government. There are various businessmen who have established businesses with transparency and honesty. One of them is Dr. Rajan Mahtani, the owner of Finsbury Investment and Mahtani Group of Companies. Even Dr. Mahtani has shared his concern regarding this increasing corruption as well as its penetration inside the government.

Continue reading Mass Money Laundering Bust Shocks Zambia, Top Zambian Lawyers Accused →