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ZCCM Investments Holdings PLC (ZCC)

  • Writer: Triplet 59
    Triplet 59
  • 5 days ago
  • 5 min read

ISIN: ZM0000000037


A Quiet Giant: The Origins and Heritage of ZCCM

ZCCM Investments Holdings PLC (ZCCM-IH) is one of Zambia’s most significant and historically influential companies — a remnant and evolution of the nation’s mining legacy. Its roots trace back to the Zambia Consolidated Copper Mines (ZCCM), which emerged after the nationalization of the mining sector in the early 1970s, when Zambia took ownership of the assets previously operated by private mining companies.


Over time, as global economic conditions shifted and privatization gained momentum, ZCCM was restructured to form ZCCM Investments Holdings PLC in 2000, positioning it as a diversified investment holding company with the Government of the Republic of Zambia as its majority shareholder.


Today, ZCCM-IH serves as both a custodian of Zambia’s mining heritage and a forward-looking investor across key sectors — balancing economic diversification with the continued centrality of mining in Zambia’s development story.


Open Cast Copper Mine

The Investment Vehicle: Structure, Objective, and Style

Behind ISIN ZM0000000037, ZCCM Investments Holdings PLC is a publicly listed company on the Lusaka Securities Exchange (LuSE), with secondary listings on the London Stock Exchange and the Euronext Access Paris.


The company’s investment structure spans multiple sectors, including:

  • Mining and Energy – equity participation in copper, cobalt, manganese, and gold ventures.

  • Cement and Manufacturing – shareholdings in industrial ventures like Lafarge Zambia Plc.

  • Financial Services and Property – involvement in banking, real estate, and diversification projects.


The ZCCM-IH model represents a hybrid public-private structure, allowing both government and private shareholders to benefit from Zambia’s resource wealth. The Government of Zambia retains a 77.5% shareholding, while minority investors hold the remaining 22.5% through LuSE and international markets.


Philosophy, Style, and Approach

ZCCM-IH operates as an investment holding company with a focus on creating long-term shareholder value through active management and participation in Zambia’s strategic industries. Its dual role — as both a commercial investor and a national stakeholder — makes it unique among African-listed firms.


The company’s philosophy is guided by sustainable economic contribution, value creation, and resource optimization, ensuring that Zambia’s mineral wealth continues to support both public interests and private enterprise.


Recent years have seen ZCCM-IH shift toward operational participation rather than passive shareholding, increasing its direct involvement in mining and energy projects to drive returns and national benefits.


Track Record, Performance, and Benchmarks

ZCCM-IH’s performance has historically been closely tied to commodity cycles, particularly copper, which remains Zambia’s dominant export.


Financial highlights over recent years include:

  • Increased revenues driven by copper and gold price appreciation.

  • Expanding participation in projects such as Kansanshi Mining Plc, Mopani Copper Mines, and Lubambe Copper Mine.

  • Active pursuit of diversification projects in renewable energy, limestone, and agriculture.


Despite global volatility, ZCCM-IH’s diversified portfolio and government backing provide relative stability compared to many emerging-market peers. The company also plays a strategic policy role, aligning with Zambia’s vision for economic self-determination and industrialisation.


Use Cases, Investor Base, and Institutional Appeal

ZCCM-IH’s shareholder base includes:

  • Institutional investors focused on African frontier and natural resource markets.

  • Retail investors seeking participation in Zambia’s mining sector.

  • Development finance institutions (DFIs) and state entities engaging in co-investments.


Its appeal lies in its hybrid nature — combining the security of state ownership with the flexibility of a publicly listed company. The stock serves as a gateway for international investors looking to gain exposure to Zambia’s resource economy through a regulated, listed entity.


Regions, Availability, and Accessibility on Verī

Through the Verī Platform, ZCCM Investments Holdings PLC is available as part of the local market universe, enabling investors across Africa and beyond to access Zambian equity opportunities within a consolidated, regulated investment environment.


Its inclusion reflects Verī’s commitment to connecting Africa’s local exchanges — from Lusaka to Nairobi and Johannesburg — with global investors and platforms, broadening access to African growth stories.


Veri Platform Model Portfolio Solutions

Integration with Verī Platform and MPS

On the Verī Platform, ZCCM-IH is globally accessible, allowing investors across Africa and beyond to hold Zambian equity exposure within a regulated investment account. Within the Verī Managed Portfolio Service (MPS), locally listed equities such as ZCCM-IH might be used to provide targeted exposure to African frontier markets and commodity-linked growth themes.Depending on investment objectives, holdings of this type might feature in regionally diversified or thematic strategies focused on African resource development, income potential, and long-term capital appreciation. The MPS infrastructure allows for these exposures to be efficiently monitored and risk-assessed alongside global assets.


Costs, Fees, and Efficiency

  • Listing: Lusaka Securities Exchange (Primary)

  • Secondary Listings: London Stock Exchange, Euronext Access Paris

  • Market Capitalization: Approx. ZMW 10 billion (subject to market fluctuation)

  • Ownership: 77.5% Government of Zambia; 22.5% Public and Institutional Investors

  • Sector Exposure: Mining, Energy, Industrial, Financial


Its multi-sector footprint provides a diversified revenue base, while listings across multiple exchanges enhance transparency and investor accessibility.


Comparative Advantages and Risks

Advantages:

  • Strategic government backing and national relevance

  • Diversified portfolio across mining, energy, and industry

  • Exposure to Zambia’s long-term growth and mineral potential

  • Cross-border listings enhancing liquidity and transparency


Risks:

  • High correlation to global commodity prices (especially copper)

  • Policy or regulatory uncertainty in the mining sector

  • Currency volatility (Zambian kwacha)

  • Concentrated exposure to Zambia’s domestic economy


How Verī Platform Helps Clarify

At Verī, our mission is simple: to provide access to the entire universe of investments — from income to accumulation strategies, passive to active approaches, low-risk to high-risk instruments, across all asset types, currencies, and regions.When we highlight funds or securities such as this one, it is not an endorsement, recommendation, or promotion of that specific investment. Rather, it is a demonstration of the wide spectrum of options available through the Verī Platform.Our role is to enable access and transparency — giving investors and institutions the ability to see, compare, and evaluate a universe of choices, so they can make their own informed decisions in line with their objectives and responsibilities.

Disclaimer

“This article is provided by Verī strictly for informational purposes only. It is not intended as financial advice, a recommendation, or an endorsement of this investment. The details shared are educational, aimed at broadening knowledge of the investment universe available.”

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