Responsible for the company’s strategic direction, talent development and financial performance, our Executive Team is dedicated to building a company that. Although they represent a diverse collection of experience, each of them has a strong track record of leading people to achieve results.
Group Chief Executive Officer
Mr. Kaluba is the Group Chief Executive Officer (GCEO) for Industrial Development Corporation (IDC) since November 2016. Under his leadership, IDC has improved in its operations and has become critical in the industrialisation and job creation agenda. Many State-Owned Enterprises (SOEs) have been transformed and have started to declare dividends which was seen as impossible in the past.
Mr. Kaluba is a certified Global CEO by the Wharton Executive Education and CEO Academy program.
He is a well-informed Policy Analyst and Economist with 20 years professional experience in the public sector and over 10 years in economic and social planning at Senior Management level.
Before joining IDC, he worked at the Ministry of Commerce, Trade and Industry as the Director Planning and Information from 2013. He was in charge of among other things, managing policy review and formulation, managing monitoring and evaluation programmes, overseeing strategic planning, management of information systems, and resource mobilisation and budgeting,
Before being appointed as the Director at the Ministry of Commerce, he served as the Chief Planner from 2010 and was responsible for among other things, coordinating monitoring and evaluation programmes, resource mobilization, policy analysis, policy research, and strategic planning.
He also served as the Chief Planner for the Ministry of Science Technology and Vocational Training from 2008 before he went to the Ministry of Commerce.
He holds a Master of Business Administration, from Heriot-Watt University.
Chief Portfolio Officer
Main Responsibilities as the Chief Portfolio Officer;
- Development and implementation of transformation strategies for the IDC subsidiaries;
- Monitoring performance of the IDC Group portfolio of companies;
- Development and implementation of strategies for business remodeling of subsidiaries, recapitalisation and other interventions;
- Spearhead the development and implementation of strategies relating to mergers, acquisitions and other strategic alliances between the IDC Group and the private sector;
- Development of strategies for divestitures in the Group;
- Liaison with Boards and Management of IDC subsidiaries on policy and operational matters;
- Liaison with external stakeholders including Government Ministries, agencies and departments, consultants, DFIs, donors and the private sector.
- Over 25 years’ experience in private sector development, public sector reform, and restructuring of State-owned enterprises;
- Director Public-Private Partnership (PPP) Unit; Director PPP & Privatisation, Zambia Development Agency;
- Advisor on PPPs and privatisation to the governments of Sierra Leone, Uganda and Ethiopia;
- Other work experience includes: Barclays Bank, Lima Bank and Finance Bank;
- Master of Development Finance; Bachelor of Accountancy; Post-Graduate Diploma in Management Studies; Certified
- Public-Private Partnerships Specialist; Fellow of the Chartered Institute of Development Finance; Member of the Institute of Directors.
Pendulum Estates Limited; Zambia Industrial Commercial Bank Limited; Zambia Airways (2014) Limited; Mofed London Limited; Belsquare (Belgium) Limited and Pendulum Fisheries and Transport Limited.
Fishing, Game hunting, Reading and Travelling
Chief Investments Officer
Chief Finance Officer
Chief Corporate Services Officer
Chief Legal Officer/Company Secretary
Main responsibilities as Head of the Legal Division and Company Secretariat:
- Provision of legal services to the office of the Group Chief Executive Officer and Management
- Company secretarial services to the Board and Shareholders of the Company.
- The division is responsible for statutory and corporate governance compliance in the company.
- 22 years of work experience as a legal practitioner, 15 of which have been in corporate practice as in - house counsel.
- 12 years performing company secretarial functions with a bias in parastatal institutions - Workers Compensation Fund Control Board, Zambia Postal Services Corporation, University of Zambia, Zambia Telecommunications Company Limited and currently, Industrial Development Corporation Limited.
- Prior, worked in private practice with Legal Resources Foundation and Messrs. Shamwana and Company as an advocate.
- Bachelor of Laws Degree. Certificate of law practice from the Zambia Institute of Advanced Legal Education. Master classes on corporate leadership and governance. Awarded Company Secretary of the year for Zambia for the year 2019 by Quest Masterclass from Singapore.
- Chairperson of the first Parents Teachers Association of Great North Road Academy (2014 to 2016), Board member of Superior Milling Company Limited (2018), Board member and member of the Audit Committee of ZSIC Life Limited.
Spending time with family, music, gardening, playing squash and event organizing.
Chief Human Capital Officer
Main responsibilities as Head of Human Capital and Administration:
- Responsible for the Human Capital Strategy which broadly covers areas of Staff Planning & Resourcing; Talent Management; Compensation & Rewards Management; Performance Management; Staff Development; Employee Relations and all staff welfare related matters.
- Responsible for Fleet Management; Life & Non-Life Insurance; Security; Office Cleaning and Sanitation; Management of office Bills and provision of office consumables.
- Over fifteen years’ experience in Human Resources Management and Administration from both the private and public sectors.
- Human Resources Manager at ZCCM Investments Holdings Plc (ZCCM-IH responsible for overall HR strategy; engaged as Interim HR Manager for IDC, on a self-starting basis, to operationalize the institution and set up the HR department with all the attendant policies and systems.
- Head of Human Resources at Kitwe Central Hospital under the Ministry of Health.
- Production Planner and certified Global trainer for Colgate Palmolive Workplace programs and HR Liaison person for the subsidiary.
Fellow of the Zambia Institute of Human Resources Management (FZIRM) and an Affiliate of the Chartered Institute of Personnel and Development (aCiPD); Masters of Art Degree in Human Resources Management; Bachelor of Arts Degree in Human Resources Management and Diploma in Production Management. Certified planner by Institute of Leadership and Management (ILM) and in-house resource person for the Balance scorecard.
Board Member at NIEC School of Business Trust and World Skills Zambia; committee member for the Nominations Committee at the Zambia Industrial and Commercial Bank (ZICB) Board and a committee member for the Standards and Compliance Committee of the ZIHRM Council.
Chief Internal Auditor
Phinias is responsible for the effective management of the Internal Audit function at Industrial Development Corporation. He is currently also responsible for managing the risk management function at IDC.
He has over 17years of experience in Internal Audit. He once worked as Graduate Engineer Production Management in the Electricity Industry, external Auditor, and Management Accountant in Water and Sanitation Industry.
He is an Associate Chartered Management Accountant (ACMA), Chartered Global Management Accountant (CGMA) and Fellow member of ZICA. He possesses a Master of Business Administration with Finance and Bachelor of Science Production Management from Copperbelt University.
He has served as Council Member of the CIMA -Zambia in various ranks of Treasurer, Vice Chairperson and ultimately Chairperson till his end of tenure in 2019.
Interests: Reading, Chess, and Social football and athletes
Head of Investments - Manufacturing, Mining & Agri Business
Head of Portfolio - Manufacturing, Mining & Agri Business
Head of Portfolio - Energy, Infrastructure & Services
Main responsibilities as Head of Portfolio Management:
Responsible for delivering Group Strategic Interventions in EIS Subsidiaries to achieve
sustained positive performance by subsidiaries and deliver a return on investment to the
Chimuka has over 15 years’ experience in the Financial Sector; (Business Financial
Analysis, Loan Facility Structuring, Corporate Banking, Project, and Investment Analysis).
Before joining IDC, he worked for ZANACO Bank Plc, whereas, prior to that he worked with
Standard Chartered Bank (Origination & Client Coverage and SME Banking), Development
Bank of Zambia (DBZ) and African Life Financial Services Ltd as a Financial Analyst.
MBA–Finance (CBU); BAcc. (CBU); Credit Analysis Certification; Strategic Project
Management Professional (SPMP); Renewable Energy Economics; Renewable Energy
Deployment; Stockbrokers Training.
Head of Portfolio - Transformation & Restructuring
Head of Finance - Operations
Sourcing of finances to finance for investments and projects, development of financing policies and strategies. Lead finance team to provide professional accounting, finance, forecasting and reporting services.
Prior to joining the Industrial Development Corporation Limited, Mr. Sichinga worked as a finance professional for the last 23 years having served as Director Finance at the Citizens Economic Empowerment Commission; Chief Financial Officer Zambezi Portland Cement Limited; Finance Director Marie Stopes Zambia Limited; Director Finance, Acting Director Finance and Investments and Finance Manager at Workers’ Compensation Fund Control Board; Finance Manager and Accountant at Occupational Health Management Board; and Supervisor Standard Chartered Bank Zambia Plc. He has also undertaken consulting engagements involving financial systems setup, business support services and capacity building to start up entities.
Mr. Sichinga holds a Bachelor of Accountancy Degree from the Copperbelt University and is a Fellow Member of the Association of Chartered Certified Accountants (ACCA) and Zambia Institute of Chartered Accountants (ZICA).
Interests: He enjoys game viewing, watching soccer, reading articles on finance and business and jogging.
Head of Finance - Reporting
Head of Treasury and Equity
Head of Tax
Head of Corporate Communication
Main responsibilities as Head of Public Relations:
- Responsible for managing the Corporation’s Communication strategy, external communication and public affairs.
- Responsible for the management and protection of the Corporation’s brand and image
- Responsible for developing, implementing and delivering Public Relations policies and
- Spokesperson of the Corporation
- Public Relations, Corporate Communication and Media consultant at Group level in private sector
- 26 years Broadcasting experience as an accomplished TV and Radio News anchor in public media.
- TV production and photography consultancy for private and public-sector institutions
- International moderator of high level panel discussions and events manager.
Masters of Art Degree in Public Relations and Strategic Communication. Bachelor of Art Degree in Communication, Diploma in Journalism, Diploma in Diplomacy and Protocol.
Art, Music, Travelling and Sports