Economy

Zambezi Portland Cement Fights Back against Alleged Illegal Takeover

Lawyers acting on behalf of Antonio Ventriglia, an Italian foreign investor and owner of Zambezi Portland Cement, have issued a writ of summons and statement of claim to the Attorney General of Zambia demanding that the government recognise the illegal deportation of him and his son, as well as repeated raids by police which led to the seizure of the company by a competitor.

Last fall, Mr. Ventriglia and his son, Daniela Ventriglia, were deported by the Zambian immigration authorities without explanation or stated reason, ultimately allowing for the alleged illegal takeover of their company by Finsbury Investments, a group owned by a well-connected businessman Rajan Mahtani.

The statement of claim, which can be viewed and downloaded below, states that on December 24, 2012, the Zambian police illegally raided the offices of Zambezi Portland Cement in Ndola to forcibly remove the company’s managing directors and illegally install Andrew Ndanga Kamanga as Chief Executive Officer. The forced change of management by the police, along with the deportation of the company’s owners, eventually led to takeover of the company by a close associate of President Michael Sata.

The document claims that the “deportation and subsequent removal of the management of ZPC by the Zambia Police Service was a torturous and direct interference in the Plaintiff’s proprietary rights over ZPC and intended only to hand over control and ownership of ZPC to Dr. Rajan Mahtani and Finsbury. This was an unlawful use of state authority.”

Mr. Ventriglia is seeking a declaration of the unlawful conduct by the Attorney General and the awarding of damages.

Ventriglia vs. Attorney General of Zambia

One Response to “Zambezi Portland Cement Fights Back against Alleged Illegal Takeover”

  1. Zedian

    Mahtani watch your back as soon as UKWA drops, we shall all be after you!!!

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