Zambia is a developing nation and the past few decades have been tumultuous with many ups and downs for its economy and society. While there are some signs of development, lack of established governance and legal system is creating a negative imagery for the company. As such, there is a need for transparent and ethical justice system so that the overall economy and businesses can improve and grow. A positive sign of this improvement came on 31st January when the Court of Appeal announced its judgment on the Zambezi Portland Cement.
Court of Appeal is among the highest courts within the Zambian nation. The Court takes up cases of extreme importance as well as those remaining unsolved across district and high courts. As such, the decision by the Court of Appeal on Zambezi Portland was final and heard by everyone. The judgment at the Court of Appeal was given by Justice Mwinde who said that Dr. Rajan Mahtani owned Finsbury Investments was the majority shareholder with 58 percent shares. On the other hand, Ventriglias were just minority shareholders with 42 percent shares. This effectively reversed the judgment given at the Lusaka High Court which announced that Ventriglias were only shareholders of the Zambezi Portland Cement. While giving this judgment, Justice Mwinde at the Court of Appeal also said that the judge below him was wrong in declaring Ventriglias as the only shareholders without any proof or evidence.
The decision from the Court of Appeal is essentially a hope for numerous businessmen like Dr. Rajan Mahtani who despite several roadblocks and mistreatment, stick to a path of transparency and ethics. Dr. Rajan Mahtani had been fighting for the legal takeover of the bank for more than ten years and despite several unethical and illegal attempts from other parties, Dr. Mahtani never engaged in similar practices. This path of honesty and ethical business practice was rewarded with the final decision at the Court of Appeal announced Dr. Mahtani as the winner.
