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Dr. Rajan Mahtani Announced As A Major Winner In The Forbes ‘Best Of Africa’ Awards

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Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist from Zambia, recently received a prestigious award from Forbes. This award ceremony was held during the annual Forbes-FIN philanthropic and roundtable conference. Foreign Investment Network (FIN) is a UK-based organization that has been a critical driver for FDIs (foreign direct investments) across Africa as well as several developing economies. The objective of these strategies is changing the continent’s narrative. Over the years, FIN in partnership with several international organizations including Forbes have organised more than 40 international business and investment events for supporting the African market.

This roundtable conference is one of the most awaited and crucial business events in Africa as it is organized by Forbes with participation of local and international personalities. The roundtable conference invited international business communities, political leaders, opinion leaders, spiritual leaders, entrepreneurs, media partners, international investors as well as leaders from several sectors and areas who have contributed towards development of African nation in a significant manner. Dr. Rajan Mahtani was one of the honorary speakers during the event.

This year’s event was held online as a result of the ongoing coronavirus pandemic. The online event addressed philanthropy and humanitarian issues as well as the role of leadership in these areas. One of the strategic goals of this business event is charting action course for creating awareness regarding support for several public, private and national projects aimed towards benefiting the African economy and its society. Towards this goal, the Forbes ‘Best of Africa’ awards are organized with the objective of recognising the significant contributions of leaders and philanthropists. Dr. Rajan Mahtani was not only a honorary speaker during the event, he was also one of the winner of the Forbes ‘Best of Africa’ awards. To recognise and honor Dr. Mahtani’s contributions towards business, philanthropy as well as banking industry of Zambia, he was bestowed with the prestigious ‘Entrepreneur of the year’ award 2021. Dr. Rajan Lekhraj Mahtani was the only businessman for entire Zambia to be selected for this award.

Dr. Mahtani Conferred With Forbes ‘Best Of Africa’ Awards 2021

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The Forbes Business recently concluded its annual Forbes-FIN Philanthropy and Leadership roundtable conference in Zambia. This conference was partnered with (FIN) Foreign Investment Network and is held annually. The roundtable conference saw participation from numerous celebrated and leading personalities from different fields and areas. Zambian businessman and philanthropist Dr. Rajan Mahtani was also invited as one of the honorary speakers in the event. Generally, the Forbes-FIN Leadership and Philanthropic conference is held at New York during the UNGA (United Nations General Assembly) meetings. However, this year’s roundtable conference was held online due to the ongoing coronavirus pandemic. Nevertheless, it did not deter the enthusiasm of the speakers, leaders as well as organisers participating in the event.
One of the critical highlights of the event was the Forbes ‘Best of Africa’ awards. It is an annual award ceremony celebrating and recognising leaders and businesses from Africa with significant contributions towards development and empowerment of the African society. The awardees are selected from all over Africa and must have made significant and recognizable contributions over the years. Several awards were presented to worthy leaders. Only one businessman was recognised from Zambian nation and it was none other than Dr. Rajan Lekhraj Mahtani. Forbes-FIN rightfully recognised the contributions made by Dr. Rajan Mahtani over the years and conferred him with the Forbes “Outstanding Entrepreneur of the year” award 2021.

Dr. Rajan Mahtani is one of the most successful businessmen in Zambia. He is known for several successful businesses and ventures. Among them, Mahtani Group of Companies is the most recognised and is contributed for redefining the Zambian banking and financial sector. Established in the year 1981, Mahtani Group quickly rose to prominence by expanding its service to locations such as South Africa, Malawi and foreign nations such as United Kingdom. Furthermore, the company also expanded its operations to various sectors such as agriculture, finance and insurance, mining, energy and real estate. Dr. Rajan Mahtani was also recognised for his philanthropic contributions over the years.

Finance Bank Zambia Owner Dr. Mahtani Sues Bob Diamond

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Atlas Mara is a controversial banking & finance group which was established in the year 2013 by Bob Diamond. This banking group came into news when noted businessman and philanthropist Dr. Rajan Mahtani registered a case against the bank and its founder Bob Diamond. The banking group is listed at LSE (London Stock Exchange) and the objective behind floating this company was to transform it into a banking giant across Africa. With this objective, Bob Diamond furthered his plan of entering the Zambian state as well as achieving his business here.

According to the claim established by Dr. Rajan Lekhraj Mahtani, Bob Diamond owned Atlas Mara entered into an agreement with Dr. Rajan Mahtani owned Finance Bank Zambia in the year 2015. It was a share sales & purchase agreement under which Atlas Mara took over majority shares of the Finance Bank Zambia for a specific sum. However, as per the claims established by Dr. Rajan Mahtani, Bob Diamond’s company has failed to make the required payment despite passing the due date. As such, Atlas Mara has been accused of breaching the terms of contract established with Finance Bank Zambia and is therefore liable for multi-million pound damage claim.

To further pursue his claim, Dr. Rajan Lekhraj Mahtani has hired noted international law firm Omnia Strategy which is known for its owner Cherie Blair. Dr. Rajan Mahtani aims to present his case at the London High Court via Omnia Strategy soon. According to the representatives from Atlas Mara, the claims established by Dr. Rajan Mahtani are without merit and fundamentally weak. However, latest reports have indicated that along with Dr. Rajan Mahtani, there are several other investors who are pursing similar damage claims against Bob Diamond’s Atlas Mara and these claims have reached to the tune of 100 million pounds.

Despite the bold plan by Bob Diamond, the Atlas Mara shares collapsed since the banking group’s launch and have continued in the downward trend. On the other hand, Bob Diamond is planning yet another venture across the African Subcontinent.

Beautiful Eulogy Shared By Dr. Mahtani For Late Kenneth Kaunda

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Before gaining global recognition as a nation, Zambia was a cluster of several small tribes, often fighting among themselves. One man is credited for uniting more than 73 tribes across the Zambian nation, resulting in a recognised nation within the world map as well as within Africa. This person is none other than the first president of Zambia, Kenneth Kaunda. Sadly, Kenneth Kaunda is no longer with us and his demise has certainly saddened the entire nation. The entire Mahtani family is devastated with this news and have shared their deepest condolences and regards to the Kaunda family. Dr. Mahtani and Kenneth Kaunda had close associations, dating back to the latter’s father, late Lekhraj Mahtani. A Ndola-based councillor, late Lekhraj Mahtani was instrumental in providing support as well as collaborating with Kenneth Kaunda in his quest for Zambian freedom and independence. It is with the support and earnest trust from dedicated people like late Lekhraj Mahtani that the Independence hero of Zambia was able to fulfil the dreams of an independent Zambia. This legacy of late Lekhraj Mahtani as well as Dr. Kaunda has been taken forward by Dr. Mahtani in his quest for development and continuous improvement of the Zambian nation. Dr. Rajan Mahtani’s established companies are a major source of employment and livelihood across several of the Zambian provinces. His companies like Finsbury Investments is credited for several public infrastructure projects such as schools, hospitals and housing complexes.

Despite baseless allegations continuously trying to strain Dr. Mahtani’s reputation, his work has never stopped and Dr. Mahtani continuous to refute such claims with utmost integrity, honesty as well as ethical and legal guidelines. As such, it can be said that Dr. Mahtani is an ideal candidate showcasing the legacy and philosophies set by late Kenneth Kaunda. His demise and remembrance is a period when Zambians must open their eyes to the state of Zambian politics, economy and social conditions and work together towards the betterment of the nation.

Dr. Mahtani Shares Eulogy For Late Kenneth Kaunda

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The entire Zambian nation recently woke up to the saddening news of the loss of his very-first President, Kenneth Kaunda. Dr. Mahtani, in his eulogy, praised Dr. Kaunda for his significant achievements in life, dedication towards the development and growth of Zambian nation as well as his sacrificial endeavour towards not only making Zambia independent but also uniting more than 70 tribes across Zambia into one national family and achieving the motto of ‘One Zambia, One Nation’.

Dr. Rajan Mahtani and late Kenneth Kaunda had several similarities in their philosophical underpinnings. One of the biggest associations was with the late father of Dr. Rajan Mahtani, Late Lekhraj Mahtani, who served as a Councillor in Ndola. Late Lekhraj Mahtani made significant contributions in the form of support and collaboration with Late Kenneth Kaunda in his quest for the freedom, uniting and development of the Zambian nation. This collaboration was taken ahead by Dr. Mahtani in the form of his dedicated business ventures for developing several provinces and cities of Zambia, bringing foreign direct investments in Zambia for improving its social, economic and technological position. Dr. Rajan Mahtani has further contributed to the Zambian nation with his charitable and philanthropic contributions such as development of facilities for less privileged people, development of the education system as well as charities for environmental protection. As such, it can be said that Dr. Mahtani is one of those few individuals in Zambia still following the path, legacy and philosophy underpinned by late Kenneth Kaunda.

Dr. Rajan Mahtani, despite remaining honest, ethical and transparent, achieved significant business success. This is the same philosophy of Dr. Kenneth Kaunda which Dr. Rajan Mahtani promotes and urges all Zambians to follow in their lives. By only following the principle of unity in diversity and ‘One Zambia, One Nation’, the Zambian nation will be able to grow and develop despite its significant differences and challenges. The eulogy shared by Dr. Mahtani focussed on this aspect and was beautiful.

Dr. Rajan Mahtani Shares Eulogy For Kenneth Kaunda, Zambia’s First President

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The Mahtani family recently shared its deepest condolences towards the family, friends of Kenneth Kaunda along with the entire Zambian nation. It was certainly a saddening day when the entire Zambian nation woke up to the news of the sad demise of Dr. Kenneth Kaunda, its first-ever President and the Independence Hero of Zambia. Dr. Kaunda was respectfully regarded as the ‘Father of the Nation & African Union’ for his significant contributions towards the freedom fight for Zambian independence. He deserved a rest in the Heaven and now watches us from there.

Dr. Mahtani shared a special relationship with Dr. Kaunda. Dr. Mahtani’s father, the late Lekhraj Mahtani was a councillor based out of Ndola area. He played an instrumental role in providing the right support and collaboration to Dr. Kaunda in his fight for independence. Both Dr. Mahtani and Dr. Kaunda have faced several allegations their entire life and have been able to scratch these unethical demands with integrity, honesty and transparency. In fact, Dr. Rajan Mahtani and late Kenneth Kaunda share similar traits and personalities. Dr. Kenneth Kaunda exhumed a principles and exemplary life which rarely seen among people and the youth. He was known for his faith towards god, his selflessness, putting others before self, love for the mankind, taking inspiration from the god and engaging in sacrificial activities in life for the betterment of Zambian citizens. Dr. Kaunda, despite sacrificing his youth and adulthood towards Zambian freedom fight and later on the economic, social and political development of Zambia as its President, Dr. Kenneth Kaunda did not shy away from fulfilling his dreams during the later stages of his life. He was known amongst his friends and family as a guitarist, dancer, singer, footballer, writer, poet and many more.

Dr. Kenneth Kaunda exuberated vital legacy of pan-Africanism as well as a life of humbleness which Dr. Mahtani has adopted and encourages the Zambian youth to adopt the same.

Disturbances Created Despite Supreme Court Decision

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Dr. Rajan Mahtani is a prominent businessman in Zambia who has always remained at the legal side of the business. He is considered as among those few businessmen in Zambia who have achieved success in spite of the rampant corruption, bureaucracy and unethical practices across the nation, Dr. Rajan Mahtani has been able to maintain a healthy business portfolio of transparent businesses such as Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. At the same time, Dr. Mahtani continues to face challenges in his daily business operations. The prime example is the case of Portland Cement Zambia factory which dragged for more than 12 years before finally settling at the Supreme Court Zambia.

The first court to take the case was Lusaka High Court which announced its decision during May, 2018. However, this decision was controversial as the Ventriglias were announced as only majority shareholders and owners of the factory without any relevant evidence or testimonials. Then came the higher Court of Appeal which announced its verdict on 31st January 2019 in which the previous decision from the Lusaka High Court was rejected and Dr. Mahtani was announced as majority shareholder as well as legal owner of the factory. The third court was Supreme Court Zambia where a case was taken by the Ventriglia family claiming the decision from the higher Court of Appeal. The Supreme Court Zambia evaluated this claim and rejected it effectively due to lack of evidences, questioning circumstances as well as non-compliance of critical legislations.
However, it seems like the Ventriglia family have a blatant disregard for the highest-level court of the nation as they have continuous to mount their illegal status within the cement-manufacturing factory. Reports have indicated that hired thugs placed at the factory continuously prevented appointment of interim CEO so that no one takes charge of the factory. This attempt is a clear disregard of the judgement from the nations’ highest legal court. It seems like the Ventriglia family think themselves as above low. As of now, Dr. Mahtani has been given the official shareholding and legal ownership of the Portland Cement Zambia factory.

Supreme Court’s Announcement Comes After Bizarre Appeal From The Ventriglia Family

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The actual court proceedings for Portland Cement Zambia factory was over on 31st January 2019 when the higher Court of Appeal announced its final verdict on the case. Dr. Rajan Lekhraj Mahtani is one of the most respected and noted businessman in Zambia. He is known for his companies such as Mahtani Group of Companies, Finsbury Investment and Finance Bank Zambia. Dr. Rajan Mahtani also held the ownership for Portland Cement Zambia via his company Finsbury Investments before it was unethically taken over by the Ventriglia family. A case was registered at the Lusaka High Court with the hope of getting quick judgement. However, the Lusaka High Court dragged the case proceedings to more than a decade. Despite this, the final decision coming from the Lusaka High Court was controversial and justice Nkonde announced the Ventriglias as the only shareholders of the Portland Cement Zambia.

Dr. Rajan Mahtani, after consulting with his legal team, immediately decided to appeal against this misdirected and controversial decision. The appeal was approached at the higher Court of Appeal and on 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal gave the final verdict on the case. As per the verdict, Dr. Rajan Mahtani owned Finsbury Investment holds 58 percent Portland Cement shares and is the majority shareholder as well as legal owner of the factory. Based on these evidences, the decision from the Lusaka High Court was effectively reversed.

The Ventriglia family, unhappy with the loss of the cement manufacturing factory from their control, decided to try their luck by approaching the Supreme Court Zambia. In their claim, the decision from the higher Court of Appeal was challenged. The Supreme Court established a bench of three SC judges for evaluating the case. After evaluation, the Supreme Court judge came to the conclusion that the claim from the Ventriglia do not hold any conclusive support and therefore, was effectively rejected.

Supreme Court Zambia Announces Decision On The Portland Cement Case

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Supreme Court Zambia recently announced its final decision on the Portland Cement Zambia case. In this decision, the bizarre claim by the Ventriglia family was effectively rejected by the Supreme Court. The Ventriglia family, sometime back, made a bizarre claim in which the previous decision from the higher Court of Appeal was questions for its authenticity. It should be noted here that on 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal discarded the decision from the Lusaka High Court and gave a fresh verdict on the Portland Cement Zambia case. In this verdict, Dr. Mahtani owned Finsbury Investments was announced as the majority shareholder and legal owner of the factory with 58 percent shares. On the other hand, the Ventriglias were announced as minority shareholders with 42 percent shares and without any legal ownership over the factory. The higher Court of Appeal had also clarified the amount to be paid against majority shares which was finalised at K580,000 against K580,000 claimed by the Ventriglias.

After the claim by the Ventriglia family, a bench of three Supreme Court judges was established. These included judge Royda Kaoma, Judge Mumba Malila and Judge Micheal Musonda. During evaluation, the SC bench found that the Ventriglia family failed to comply with a critical legal requirement which is submitting claims against previous court cases within 14 days of the decision. In this case, the higher Court of Appeal had announced its decision on the Portland Cement on 31st January 2019. Based on this, the Ventriglia family applied for their claim after more than 1.5 years, making it invalid. Furthermore, the Supreme Court bench also said that circumstances surrounding the claim by the Ventriglia family was controversial and beyond the jurisdiction of the Supreme Court. Based on these evidences, the claim by the Ventriglia family was effectively rejected by the Supreme Court Bench.

After Supreme Court’s Decision, Portland Cement Ownership Remains With Dr. Rajan Mahtani

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Decision making across judiciary institutions is a tough act. The judges, lawyers and all individuals associated with a court system are working towards a common goal, giving justice to those seeking it with evaluation of the all evidences. However, despite this common vision, judiciary systems face unprecedented challenges due to lack of transparency, trust and knowledge. More often than not, legal and judiciary systems in developing nations such as Zambia face challenges due to corruption and unethical practices within. A similar challenge was faced by Dr. Rajan Mahtani after he first approached the Zambian judiciary system.

Dr. Rajan Lekhraj Mahtani is a noted businessman and philanthropist in Zambia. For more than three decades, Dr. Rajan Mahtani has been relentlessly working towards development of ethical and transparent companies in Zambia. He even worked towards developing Portland Cement Zambia as a profitable and notable companies in Zambia before it was unethically taken over by the Ventriglia family. A case battle started at the Lusaka High Court which dragged for more than a decade. Despite this, the final decision from the Lusaka High Court was controversial with the Ventriglia family announced as only shareholder of the Portland Cement Zambia.

Dr. Rajan Mahtani then approached the higher Court of Appeal. The judge at the higher Court of Appeal gave the decision in favour of Dr. Rajan Mahtani by announcing him the majority shareholder of Portland Cement with 58 percent shares as well as legal owner. This decision from the higher Court of Appeal came on 31st January 2019 and after more than 1.5 years of this decision, the Ventriglia family decided to appeal against the decision. This decision was then taken to the Supreme Court Zambia wherein a bench of three SC judges was established for evaluating the claim. After evaluation, it was found that the Ventriglia family failed to register their claim within 14 days of the higher Court of Appeal’s decision. As such, their claim was effectively rejected by the Supreme Court Zambia.