History
FSG (Zambia) Limited was incorporated on 24 February 2000. All the shares in the company were acquired by FSG Limited in 2008.
Subsequently, a part of shareholding was acquired by Combined Consortium Limited, a company in which four prominent Zambian citizens are shareholders.
The company is engaged in the following activities:
- Assembly and supply of coffins and caskets;
- Provision of funeral services; and
- Marketing of funeral assurance policies as agent of African Life Assurance Company Zambia Limited.
The Company currently operates in Lusaka and in Ndola. It is actively exploring opportunities in other major towns in Zambia.
Over the last seven years the company grew slowly and currently enjoys a market share of about 40% of the funeral industry in Lusaka.
Board of Directors
The following are the Directors of FSG (Zambia) Limited:
- Padmore Muleya - Chairman (Non-executive);
- Milivoje Nikolic - Group Managing director (Executive);
- Mwape Bwanali - (Non-executive);
- Vijayan Narayanan - (Executive);
The Board is responsible for establishing strategies, effective decision-making, establishing internal controls and procedures, performance evaluation and effective reporting. The executive directors are responsible for day-to-day management. The Board meets every quarter and monitors the performance of the company and ensures full and effective control over the Company.
Corporate governance
FSG (Zambia) Limited is committed to the principles of transparency, accountability, integrity and best practices in the conduct of its business in accordance with the best practice on corporate governance. The Board of Directors is cognizant of this responsibility and is aware that the Board is ultimately responsible and accountable for the management and the conduct of the business of the Company.