ZCCM Investment Holdings Chief Execute Officer Dr. Pius Kasolo has been fired after being on the helm for almost four years.
Earlier this week, Dr. Kasolo said the 2019 planned mining taxes will impact negatively on ZCCM-IH which holds shares on behalf of the Government in the mining companies.
Speaking at a media briefing held in Lusaka earlier this week, Dr. Kasolo said the new taxes will affect investments and production of the mines, hence the need to resolve issues as this will have an impact effect on dividends paid to the holding company.
Minister of Mines and Minerals Development Richard Musukwa has confirmed the sacking of Dr. Kasolo in Lusaka.
The Minister has announced that company Chief Investment Officer Mabvuto Chipata will act in his position until further notice.
He made the announcement during a media engagement at State House on Friday.
The Economics Association of Zambia Copperbelt Province Chapter termed remarks by Dr. Kasolo over the new tax system as ill-timed.
Copperbelt EAZ Chairperson Mathews Muyembe said the motivation behind these remarks begs an answer as government is already engaging the respective foreign mines and positive strides are being made to achieve a mutually beneficial consensus.
Mr. Muyembe said while the association appreciates that every company’s objective is to increase its top line and maximize the bottom line, the mandate of this holding is to represent and reflect governments will which is to improve the welfare of its people through provision of employment and social services.

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