Government has unreservedly acquired 75% shareholding of Lap Green Network in Zamtel and has accepted the report on the findings of the committee that was appointed to investigate the sale of the company.

This was revealed in a press statement released by the President’s Special Assistant for Press and Public Relations George Chellah.

According to the statement, President Michael Sata has deemed it desirable and expedient to compulsorily acquire the 75% shareholding of Lap Green Network in Zamtel and has ordered the dissolution of the Board of Directors of Zamtel.

Dr Mupanga Mwanakatwe, has been appointed Chairman and acting Chief Executive Officer as a first step to regularize the affairs of the company.

 “A new board will soon be put in place to give policy guidance and direction to management and staff. President Sata has further directed management to address the plight of Zamtel workers with due immediacy,” the statement read.

The Head of State said there would be no jobs losses except through retirement and attrition and assured the highest levels of discipline and respect of law because Zamtel workers had served with distinction in an area of sophisticated information technology.

President Sata has reiterated his relentless commitment to his duty as custodian of the interests of the Zambian people and assured the Zamtel workers their traumas and anxieties would end.

He said government would restructure ownership of Zamtel to ensure Zambians owned the bulk of the shares in a revitalized Zamtel. ZDA