A LOCAL insurance company has appealed to Government to consider listing Zamtel on the Lusaka Stock Exchange (LuSE) to afford Zambians an opportunity to buy shares in the telecommunication firm following the reversal of the sale to LAPGreen of Libya. Crown Insurance Brokers (CIB) chief executive officer Gilbert Kaziya says listing of the company on the stock exchange will enable many Zambians to own shares.
Mr Kaziya in an interview in Ndola on Wednesday also suggested that it will be more viable if Government considers dual-listing on the South African JSE.
“I appeal to Government to quickly list Zamtel on the Lusaka and Johannesburg stock exchanges so that many Zambians including those outside the country can buy the shares from the company,” he said.
He said stockbrokers can give advice to Government on how to proceed regarding the listing of the company on the stock exchanges.
Mr Kaziya has since commended Government for reversing the sale of Zamtel, saying the earlier move compromised State security and that the investors were also externalising money.
Mr Kaziya said the sale of the company did not benefit Zambians. Instead, it brought misery to both former workers and the country.
He said the sale of Zamtel had led to some retrenched workers suffering despite being professionals.
“May I also appeal to the new management to consider calling back Zambians that were laid off by LAPGreen because many of them are just roaming the streets despite being qualified technicians,” Mr Kaziya said.