Expert Questions ZCCM-IH CEO Appointment, Cites Governance Concerns
Economic analyst Kelvin Chisanga has added his voice to mounting concerns from governance stakeholders over the recent appointment of a former non-executive board chairperson as Chief Executive Officer of ZCCM-IH.
The move, announced shortly after the individual’s departure from the board, has sparked criticism regarding its alignment with corporate governance standards.
Mr. Chisanga expressed alarm at the transition, describing it as a breach of the fundamental principle of board independence. “This raises serious red flags in terms of transparency, fairness, and potential conflicts of interest,” he stated, pointing to international benchmarks like the King IV Report and OECD Guidelines for State-Owned Enterprises.
He further questioned the timing of the appointment, suggesting it grants the new CEO access to strategic information previously held during their board tenure—potentially giving them undue advantage and undermining stakeholder trust.
“This decision also places the Industrial Development Corporation (IDC), as custodian of public interest, under scrutiny,” Chisanga said, warning that it could erode public confidence if perceived as a bypassing of due process.
In a formal statement, Mr. Chisanga called on ZCCM-IH and IDC to:
- Publicly explain the rationale behind the appointment;
- Introduce a cooling-off period for board-to-executive transitions;
- Commission an independent review of the appointment process.
He concluded by emphasizing the need to protect institutional integrity, especially in entities tasked with managing Zambia’s strategic national assets.
