Real owners never loot- The Case of Portland Cement Zambia

Portland Cement Zambia has remained as a disputed property in between the Ventriglia family and Finsbury Investments. On one hand, the official records suggest that the factory is owned by Finsbury Investment with a stake of 58% share and on the other hand, the Ventriglias have constantly refused to believe the same and are claiming themselves to be the actual owners. Under such context, it should be considered that action speak louder than words.

When the Portland Cement Zambia was under Finsbury Investment in 2013-14 and 2014-15, there were remarkable progress seen in reports as well as the revenue of the firm. The forecasted output of the factory was being easily achieved and there were cases where the output and the revenue of the factory made history in Zambia.

Portland Cement Zambia

When the management was taken over by the Ventriglias in April 2015, it was the first time that the factory had to bear losses. Moreover, there was a high sense of dissatisfaction among workers and the revenue of the factory faced a serious downfall. A majority of the funds was then transferred to external accounts and in no time a prosperous company was left as a place of misery.

Now the question which needs to be answered is- Who is the actual owner of the Portland Cement Zambia? Is it the Ventriglia family, who have simply looted the factory and have brought this factory on the verge of its extinction, or is the Finsbury Investments, who has nurtured the factory and had set it up as an integral part of Zambia’s infrastructure development? The answer lies in the question itself. Any person who has been witnessing the scenarios at Portland Cement Zambia will easily realize that Finsbury Investments is the actual owner of the factory as nobody would ever harm a company which generates revenue for them. For the Ventriglias, they are just interested in extracting the money from Zambia and depositing the same in some external bank accounts.

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