Business

Diversification good for ZCCM – Kasolo

KABANDA CHULU, Lusaka
DIVERSIFICATION into the energy and exploration sub-sectors is meant to broaden the revenue base and stabilise the company, ZCCM Investment Holdings chief executive officer Pius Kasolo has said.
Dr Kasolo said the company embarked on diversification into other portfolios since heavy reliance on mining has some negative effects.
“Any investment is cyclical; this is why we see some markets going down, while others pick up. Today, the mines can be down but that will not be permanent. Mining will still remain a big industry since minerals are being discovered,” he said. “But we want to grow the company and maximise shareholder value because this is what is driving us forward. We have been diversifying the investment portfolio to include energy [power generation], real estate, exploration and other operations. This will help us broaden our revenue base as well as stabilise the investment flows.”
He advised people to buy shares in ZCCM-IH and become part of the country’s biggest industry.
“All Zambians have an opportunity to participate in the sector that drives the economy. We will start road shows across the country so that people are given access to buy shares. This will be a chance of a lifetime considering that this is the biggest company at the stock exchange,” Dr Kasolo said.

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