ZCCM-IH Moves to Revive London Listing as Zambia Pushes Mining Sector Reform
Zambia’s ZCCM-IH Plans London Listing Revival as It Expands Free Float and Upgrades Market Infrastructure
Zambia’s state-linked mining investment firm, ZCCM Investments Holdings, is preparing to restore activity on the London Stock Exchange after a prolonged suspension of its secondary listing, marking a renewed push to re-engage international investors.
The company’s London presence has been disrupted in recent years due to ongoing delays in financial reporting.
Management is now advancing a broader reform programme aimed at stabilising disclosures, strengthening governance systems, and improving investor transparency.
A central part of the plan involves modernising shareholder records by digitising more than 2,000 physical share certificates still in circulation.
The initiative is expected to streamline ownership tracking and reduce administrative bottlenecks that have previously affected market operations.
Alongside operational reforms, ZCCM-IH is also considering a significant increase in its free float, currently estimated at around 7%.
The proposed expansion to as much as 25% is intended to deepen liquidity and make the stock more attractive to global institutional investors.
Chief Executive Officer Kakenenwa Muyangwa has indicated that the company’s long-term ambition includes a substantial uplift in valuation, with a target of expanding market capitalisation from roughly $1.4 billion to $7 billion over the coming decade.
The revival effort comes as Zambia continues to reposition its mining sector following its recent debt restructuring, seeking to draw renewed foreign capital into copper and related resource industries.
ZCCM-IH retains minority stakes in several major mining operations, including assets associated with Mopani, Kansanshi, and Konkola Copper Mines.
If successful, the relisting would mark a significant step in re-establishing the company’s footprint in global capital markets while supporting Zambia’s wider economic reform agenda.
