Industrial Credit Comp

Zambia's premier and leading asset finance firm, Industrial Credit Company Limited (ICC), a Loita Group Company, has pioneered in the support for the establishment of the Dag Hammarskjold Chair of Peace, Human Rights, and Conflict Management at the Copperbelt University (CBU) in Kitwe, Zambia. ICC has provided an endowment of USD25, 000.00 as financial assistance to this worthy initiative this year and has undertaken to review this in 2005 with respect to providing annual assistance.

Dag Hammarskjold, the late UN Secretary General together with 15 others and the entire crew died in a mysterious plane crash near Ndola, Zambia on September 18, 1961, in his efforts to bring peace to the newly independent Belgian Congo (which at independence in 1960 had assumed the name of the Republic of the Congo) in terms of Article 99 of the UN Charter. The fateful flight to Ndola was to enable him negotiate a peaceful settlement with Moise Tshombe, self-appointed President of the mineral-rich Katanga Province, which had declared its unilateral secession from the rest of the Republic of the Congo.

The UN Country team (UNCT) in Zambia, in collaboration with the Government of Zambia (GRZ), the Swedish Mission in Zambia and the Mindolo Ecumenical Foundation (MEF), has since 1999 embarked upon the effective operation of the Dag Hammarskjold Living Memorial Initiative (DHLMI), as one of the areas for collaborative programming under the UN Development Assistance Framework (UNDAF), for the period 2002-2006. This has a specific objective of strengthening the capacity of Zambia to contribute to regional peace, stability and cooperation and the benefit there from.

Zambia, being surrounded by a number of conflicts and as host to large numbers of refugees resulting from these ongoing conflicts in the sub-region, remains a haven of peace and stability in the region and playing leadership role in the various Peace Accords. Because of this unique situation, the UNDAF has recognised that this cross-cutting theme is critical to any long-term development of Zambia – it being a land-locked country.

The Dag Hammarskjold Chair of Peace, Human Right and Conflict Management, at the Copperbelt University was designed by Dr Siteke G. Mwale, former Foreign Minister of Zambia, who has also played the important role of Senior Policy Advisor to the DHLMI and its Steering Committee since 2003.

‘'The Chair, endowed to ICC, will be a pro-active and practical instrument for research, workshops, colloquiums and seminars on peace, human rights and conflict management, which will reinforce and capacitate existing institutions and liaise closely with other aspects of the DHLMI, together with Government of Zambia institutions through the Ministries of Foreign Affairs, Defence, Home Affairs, Local Government, Copperbelt Provincial Administration, etc to ensure the necessary linkages and synergies'' comments Dr Siteke Mwale.

Industrial Credit Company (ICC) was established under the Banking and Financial services Act in April 1965. Leveraging on the industrial and manufacturing activities that were booming in Ndola, ICC was and is still headquartered in Ndola. With a branch office in Zambia capital city, Lusaka, ICC enjoys 70% market share of the country' s lease finance business. Loita Group of companies is an African based, independent investment banking and information technology corporation, which has a presence in a number of African countries.

For nearly 40 years, ICC has operated out of Ndola and the Group's Chairman, Mr Justin Chinyanta, based at Loita, South Africa, happens to be a Zambian. ‘'We therefore have a strong commitment to the sustainable development of Zambia and the region'' says Max Honde, General Manager and CEO of ICC. ‘' As a financial institution, our company upholds the values of good governance and believes in regional cooperation and integration as the sine qua non for Peace-building and Development in Africa, as exemplified by the roles of NEPAD and other institutions within the ambit of the African Union and the United Nations'' adds Max. ‘'It is for this reason that Loita – ICC highly commends the recent appointment by President Levy Mwanawasa, SC of Dr. Siteke Mwale as Zambia's Special Envoy and National Coordinator for the Great Lakes Region (consisting of Burundi, Kenya, Rwanda, Tanzania, Uganda and Zambia)''

Loita - ICC regards Zambia's involvement in the Great Lakes Region as very relevant to the regional dimension of the DHLMI on Peace, Human Rights and Conflict Management. ICC's participation in this initiative reflects a new African commitment and spirit of the private sector (as an engine of economic and social growth) to contribute towards a peaceful environment within which to live and work by all stakeholders.