By GRACE CHAILE
ZESCO Limited has taken Zambia Electrometer Limited to the High Court, demanding over K46 million, being funds lent to the defendant to pay its employees’ salaries and settle other expenses.
Zesco, which owns 40 percent shares in Zambia Electrometer Limited, claims it released funds in the total of K46, 428, 429 as the latter was faced with financial difficulties.
It also stated in a statement of claim filed at the Lusaka High Court, that Zambia Electrometer Limited requested for financial assistance on a regular basis between 2020 and 2022, to meet some of its operating expenses, primarily employee salaries amongst other things CLICK TO READ MORE
Author
