ZCCM-IH Appoints Phesto Musonda as New Board Chairperson
ZCCM Investments Holdings Plc (ZCCM-IH) has announced the appointment of Mr. Phesto Musonda as its new Board Chairperson and Non-Executive Director, effective June 9, 2025.
The appointment was made by the company’s majority shareholder, the Industrial Development Corporation (IDC), in accordance with Section 3.59 of the Lusaka Securities Exchange Listing Rules.
A seasoned entrepreneur and industrialist, Mr. Musonda brings over 30 years of experience in Zambia’s mining and construction sectors. He currently serves as Chairman and CEO of Phoenix Materials Ltd and the Sub Sahara Gemstone Exchange Industrial Park Ltd — the first indigenous-owned economic zone in the country.
Mr. Musonda is renowned for his leadership in industrial growth, policy advocacy, and quality management. His companies have contributed significantly to mining support services and gemstone value addition, not only in Zambia but throughout the Sub-Saharan region.
He is credited with implementing Total Quality Management (TQM) systems and driving sustainable industrial transformation.
His broad leadership portfolio includes roles as Vice Chair of the National Roads Fund Agency, Vice Chair of the National Council for Construction, and President of the Association of Building and Civil Engineering Contractors (ABCEC).
He also previously served as the longest-standing Chairperson of the Zambia International Trade Fair and sat on the boards of Flying Doctors Services and ZACCI. In 2024, he consulted for the inaugural Zambia Mining and Investment Insaka.
Mr. Musonda holds an MBA in Total Quality Management from the University of South Wales and a construction degree from the Copperbelt University.
In a statement, the ZCCM-IH Board congratulated Mr. Musonda and expressed full confidence in his ability to steer the company toward achieving its strategic goals.
“Under his guidance, ZCCM-IH will effectively pursue its long-term vision, drive growth, and create sustainable value for all stakeholders,” said Company Secretary Charles Mjumphi.
