ZESCO Limited is governed by the Board of Directors who are appointed by the shareholder, the Government of the Republic of Zambia through the Industrial Development Corporation Limited. Corporate Governance is a key pillar in our business model and it is intended to support the relationship of trust between ZESCO Limited and its stakeholders. The company’s governance system links with its business strategy to help achieve business goals, creating sustainable value in the long-term for shareholders.
ZESCO’s Corporate Governance structure is in line with the Board Charter and Corporate Governance Guidelines which assigns the management of the Company to Board of Directors and outlines the roles, responsibilities and delegation of authority. The Board of Directors is comprised of 7 members, out of which 6 are Non-Executive Directors. The Non-Executive Directors are considered to be independent and free from any business interest which could materially impair their judgment. The Board composition is outlined in the company’s Articles of Association and Companies’ Act of 2008.
Mr. Victor M. Mundende is the Managing Director of ZESCO Limited. Previously he held the position of Chief Operating Officer a position which deputised the Managing Director. His responsibilities to the Board include but are not limited to ensuring that the Corporations objectives are met and the execution of the corporations strategy are presented and approved by the Board.
He is a holder of B.Eng. Mechanical Engineering obtained from University of Zambia. He has a Master’s in Business Administration with Manchester University. He has over 23 years’ experience in Engineering Manager with technical and managerial skills in Hydro Power Generation.
He is holder of B. Eng. Electrical Engineering obtained in 1996 from University of Zambia. He has over 20 years’ experience responsible for a broad range of electric power system engineering activities at the detailed design, supervision and management level.
He is a holder of a Bachelor’s Degree in Electrical and Electronics Engineering with a major in Power Systems obtained from the Copperbelt University. He also possesses a Master’s Degree in Business Administration from Manchester University. He has over 28 years’ experience in Distribution Power Systems.
He is a holder of a Bachelor Degree in Accountancy from Copperbelt University(Zambia) as well as graduate of the Manchester Business School’s MBA Program in Banking and Finance, UK. He is also a fellow of both the Chartered Institute of Management Accountants (CIMA-UK) and the Global Chartered Management Accountants (GCMA-UK). He has over 19 years of experience in investment and corporate banking in Zambia, Kenya, Uganda and Tanzania as well as accounting, treasury and consultancy functions with well-grounded skills in debt and capital markets, risk management, strategy formulation and execution, portfolio management.
He is holder of Bachelor’s Degree in Accounting and Finance from University of Zambia in 1986 and He is a Chartered Certified Accountant, ACCA obtained in 1999. He has vast experience in Accounting and Customer Services having worked as Chief Accountant in Distribution & Customer Services Directorate.
He is a holder of a B. Eng Degree in Electrical Engineering (with bias in Electronics & Telecommunications) obtained from the University of Zambia. He has over 26 years combined experience having worked in various functions covering SCADA-Computer Engineering, Information Technology Systems management & project implementation, Utility Billing Systems management, Customer Services, Marketing & Corporate Communications as well as Strategic Business Planning.
She is a holder of Bachelor of Arts Degree in Industrial Psychology major and a minor in Public Administration obtained from the University of Zambia in 1996 and a Master’s Degree in Administration with over 19 years as a Human Resources Practitioner. She has vast experience in Human Resources Development and Implementation Strategic Performance Management System.
He is a holder of is a holder of LLB Bachelor of Laws Degree, obtained from the University of Zambia and also holder of LLM from Birmingham University, UK. He was formally admitted to the Zambian Bar in 1998 and has over 18years experience of practicing law.