Dr Rajan Lekhraj Mahtani

Forbes-Fin Roundtable Conference Ends With A High Note

The most anticipated events in Africa, Forbes-FIN leadership and philanthropic business event was recently concluded in Africa. It is an annual event which is held with the objective of bringing together voices from successful, celebrated as well as influencing personalities and leaders to one platform. This platform utilises the opportunity to not only ensure business and financial support for the ongoing projects but also recognising contributions from the businessmen, leaders and philanthropists from different fields.

One of these business characters is Dr. Rajan Lekhraj Mahtani, noted business manager, charity worker and noble cause philanthropist from Zambia. During this roundtable gathering, Dr. Rajan Mahtani was welcomed a privileged speaker. Notwithstanding, this honor was additionally reached out with Dr. Rajan Mahtani becoming one of the regarded awardees. Forbes in organization with FIN offered Dr. Rajan Lekhraj Mahtani with the renowned ‘Best of Africa Award‘ for the year 2021. In this honor, there are a few classes and Dr. Rajan Mahtani got the ‘Outstanding Entrepreneur of the Year’ 2021 honor. This honor was given for Dr. Mahtani’s huge commitments towards rethinking the financial business of Zambia. While the award service for the most part takes plan in NYU, United States, the current year’s award function was held online on sixth August 2021, generally because of the progressing Covid pandemic. In any case, the meaning of the function alongside the round table meeting didn’t diminish even a solitary piece and a few top pioneers and business characters participated in the roundtable gathering for authority in magnanimity and business. These included individuals from worldwide business organization and local area, business people, strategy creators, assessment pioneers, lawmakers, strict pioneers, global financial backers just as media accomplices.

Dr. Rajan Lekhraj Mahtani accepted this award in a graceful manner, thanking almighty god as well as his teams for their work and enthusiasm. Apart from his business acumen, Forbes also recognised Dr. Mahtani’s philanthropic and charitable activities.

Dr. Rajan Mahtani

Forbes ‘Best Of Africa’ Award Presented To Dr. Rajan Mahtani

Dr. Rajan Lekhraj Mahtani, a noted businessman and philanthropist from Zambia, was recently awarded with the prestigious ‘Best of Africa’ awards by Forbes. Forbes in partnership with FIN (Foreign Investment Network) conducts one of the most anticipated business events in Zambia. This event is Forbes-FIN Philanthropy and Leadership roundtable conference. Usually, the business event takes place in New York during the UNGA meetings. However, this year’s roundtable conference was confided to a virtual meeting as a result of the ongoing coronavirus pandemic. Dr. Rajan Mahtani was one of the eminent business personalities invited as honorary speakers during the event.
A major highlight of the roundtable conference was the Forbes-FIN ‘Best of Africa’ award ceremony. It is one of the most anticipated events by the experts. Dr. Rajan Mahtani was presented with the ‘Outstanding Entrepreneur of the Year’ award 2021 for his significant philanthropic and leadership contributions as well as redefining the financial and banking sector of Zambia. Furthermore, Dr. Rajan Lekhraj Mahtani was among the first from Zambia to be recognised with such a prestigious award. Several other leaders were recognised and awarded for their leadership and philanthropic contributions.

The Forbes ‘Best of Africa’ awards are recognised across the globe. The awardees are selected after months of rigorous process which includes interviews, discussions, thorough verifications by Forbes as well as FIN. The online event was started by none other than Mark Furlong who is the founder and publisher of the Forbes International as well as FAM (Forbes Afrique Media). Dr. Rajan Lekhraj Mahtani accepted his award with grace and humility. In his acceptance speech, Dr. Rajan Mahtani thanked God for always blessing him despite the numerous challenges he faced in his life. Dr. Rajan Mahtani said that he was honoured and humbled with this award and never expected his philanthropic contributions being recognised by international media. He also thanked his team for their excellent work which according to Dr. Mahtani, was the reason for his continued success across businesses.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Wins The Prestigious ‘Best Of Africa’ Award By Forbes

The Forbes ‘Best of Africa’ is a prestigious award which is presented to entrepreneurs and businessmen achieving significant distinction in their businesses and field. The 2021 Forbes BOA (Best of Africa) awards were recently presented to some of the top entrepreneurs and businessmen from Africa, from different field and functions such as business, innovation, politics, economy and leadership. Considering the ongoing pandemic and everything going online, the honours were presented to the recipients at the FIN (Foreign Investment Network) Leadership & Philanthropy Roundtable conference that was recently held via a virtual meeting.

Dr. Rajan Lekhraj Mahtani was not only one of the speakers in the virtual conference, he was also bestowed with the ‘Best of Africa’ Forbes Distinction Certificate for his outstanding entrepreneurial and business contributions to the Zambian society as well as upholding the spirit of the Zambian nation. Dr. Rajan Lekhraj Mahtani has been working tirelessly for more than three decades, and the objective has always remained same- to take Zambia to greater heights. He is a successful serial entrepreneur and businessman with numerous top institutions under his name, including but not limited to Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his charitable and philanthropic activities across the Zambian nation such as funding correctional facilities as well as contributing to the Zambian education with the establishment of Steven Malama award including significant financial funding for top law graduates in Zambia. The major crust of the round table conference was the positive impact of business, politics and leadership on the economic landscape across Africa. Top bureaucrats, businessmen and entrepreneurs presented their views on the current landscape and scenario of Africa, the positives and negatives as well as the significant need of the hour for making the requirement improvements across the nation’s economy. Furthermore, the awards presented to the recipients were selected after several months of intensive research as well as thorough verification exercises by the Forbes and FIN.

Dr Rajan Lekhraj Mahtani

Dr. Rajan Lekhraj Mahtani Honoured With Award By Forbes

The FIN leadership and philanthropic roundtable conference recently took place on 6th August 2021. It was also an event wherein business personalities from Zambia were invited to share their thoughts on leadership and its significance. Dr. Rajan Lekhraj Mahtani was not only an honorary speaker, but was also bestowed upon with one of the prestigious Forbes ‘Best of Africa’ awards.

While Dr. Rajan Mahtani shared his thoughts on leadership and the importance of leaders taking responsibility for the growth and development of the nation, the Forbes management duly realised his contributions. Dr. Rajan Mahtani was bestowed with the prestigious ‘Entrepreneur of the Year’ award 2021. One of the biggest contributions by Dr. Mahtani has been his company Mahtani Group of Companies which was established in 1981. It quickly became a conglomerate expanding its services to Malawi, Zambia, South Africa as well as several parts of the globe along with expansion of its operations to various sectors including financial services, mining, agriculture, insurance, real estate and energy. Through his entrepreneurial ventures, Dr. Rajan Mahtani has been able to provide employment and livelihood opportunities for thousands of Zambian along with development of infrastructure, social services and economy across several provinces. His philanthropic and charitable activities are often hidden as Dr. Rajan Mahtani rarely mentions them in his business portfolio.

He is the Founder & Chairman of the (PFZ) Prison Fellowship Zambia, a program affiliated to (PFI) Prison Fellowship International situated in Washington. The program provides opportunities to the inmates & ex-inmates to create meaningful developments along with providing opportunities to their families so that they do not fall into the same path. He has also enabled self-sufficiency across medical and food supplies by sponsoring agricultural projects. Dr. Mahtani’s contributions towards the Zambian educational sector is significant. Dr. Rajan Mahtani launched Stephen Malama award in the year 2013 which is given to the best Zambian bar candidate along with scholarship programs for furthering their education. Forbes acknowledged these contributions by Dr. Mahtani while presenting the award.

Rajan Mahtani and Portland Cement Zambia

Dr. Rajan Lekhraj Mahtani To Approach London High Court

One of the most notable and respected businessmen in Zambia, Dr. Rajan Mahtani recently hired reputed international law firm Omnia Strategy. The reason behind hiring of this law firm was a claim against Atlas Mara, a controversial banking and financial institutions in Zambia and in Africa established by even more controversial businessman Bob Diamond. Atlas Mara was established in the year 2013 with the objective of becoming banking giant in Africa. Atlas Mara under Bob Diamond went through several acquisitions in the following years since its establishment. One of these acquisitions was Finance Bank Zambia, a banking and financial institution established and led by Dr. Rajan Mahtani. The Finance Bank Zambia was taken over by Atlas Mara via an original share and sales agreement. However, according to the claim made by Dr. Rajan Mahtani, Atlas Mara did not honour this claim and Dr. Mahtani is still awaiting payment against the shares sold to Bob Diamond. On top of that, representatives from Atlas Mara alleged the claims made by Dr. Rajan Mahtani to be unsubstantiated.

Bob Diamond is a controversial businessmen who took over control of Dr. Mahtani’s Finance Bank Zambia in the year 2013. This was the time when Bob Diamond re-entered in Zambia after being ousted from CEO position at Barclays in 20132. This ouster was due to the infamous Livor-Rigging scandal in which Bob Diamond’s name emerged.

According to the claim established by Dr. Rajan Mahtani, Atlas Mara still owes him money from share sales of the Finance Bank Zambia. Apart from Dr. Rajan Mahtani, there are several other investors who are pursuing similar damage claim to the tune of 100 million euros. Since 2013, Atlas Mara shares have collapsed significantly. Despite stepping down as its Chairman in 2019, Diamond remained the non-Executive Director as well as largest shareholder of Atlas Mara. The claim by Dr. Rajan Mahtani comes at a time when Bob Diamond is attempting yet another comeback supported with USD 4.5 billion space-listing. Dr. Rajan Mahtani is expected to produce his case at the London High Court soon.

Mahtani Group of Companies

Dr. Mahtani Ready With His Case, To Approach London High Court Soon

Dr. Rajan Lekhraj Mahtani is a respected businessman and philanthropist in Zambia. For more than three decades, Dr. Mahtani has been building successful organizations, businesses and ventures across the nation. He is also known for his significant charitable and philanthropic contributions for the economic and social development of the Zambian nation. Yet, Dr. Rajan Mahtani and similar other transparent and ethical businessmen in Zambia are continuously facing challenges and issues while establishing their businesses and continuing their operations. Dr. Rajan Mahtani recently approached international law firm Omnia strategy with a case of non-payment of dues against Atlas Mara. According to the claim established by Dr. Rajan Mahtani, Atlas Mara, a banking and financial institution conceptualised by Bob Diamond, failed to honour the agreement terms established between the bank and Dr. Rajan Mahtani’s Finance Bank Zambia. By breaching this agreement, Atlas Mara is liable for penalties as well as suing.

Bob Diamond is a controversial businessman due to his several connections to national scandal. The businessman had to step down from the position of Barclay’s CEO (Chief Executive Officer) after the 2012 Libor-Rigging scandal. However, he again entered the Zambian corporate in the year 2012 with his newly established banking institution Atlas Mara and his bold plan of becoming banking giant in Africa. With this mission, Bob Diamond’s Atlas Mara went on a shopping spree, acquiring several small and big banking and financial institutions in Zambia. One of these acquisitions was Dr. Rajan Mahtani’s Finance Bank Zambia which took place in the year 2015.

Regarding the claim established by Dr. Rajan Mahtani, Atlas Mara representatives have confidently said that the claim by Dr. Mahtani was without any merit. However, the reports and the timeline says otherwise. Along with Dr. Rajan Mahtani, there are several other investors who are also pursuing damages worth more than 100 million euros against Bob Diamond’s Atlas Mara. Dr. Rajan Mahtani will soon present his case at the London High Court via his hired law firm Omnia Strategy.

Dr. Rajan Mahtani

Dr. Rajan Lekhraj Mahtani Gives Tribute To Late Kenneth Kaunda

Dr. Mahtani recently shared a tribute on the occasion of sad demise of the beloved and respected Kenneth Kaunda, known among the Zambians as well as Africa as the ‘Father of the nation and the African Union’. Dr. Kaunda was a person of many hats and though few hundred words are not enough to describe his passion and accomplishments, Dr. Mahtani did it beautifully via his eulogy shared via his company Mahtani Group of Companies.

Dr. Kaunda can be described as one of the most accomplished individuals across Zambia. Despite allegations here and there as well as difficulty in managing the economy, Dr. Kaunda did a fine job as the first President of Zambia. He was the independence hero of Zambia and had one of the most important role in the Zambian freedom. In his quest for Zambian independence, one individual provided significant support and that was late Lekhraj Mahtani, father of Dr. Mahtani. Late Lekhraj Mahtani was a councillor from Ndola who collaborated and supported Dr. Kaunda. This legacy has been carried on by his son, Dr. Rajan Mahtani. Dr. Mahtani has been instrumental in bringing infrastructural and economic growth in Zambia with his significant companies. Some of his top companies are Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. Almost all of his companies are known to work towards providing opportunities to the less privileged, providing employment opportunities as well as engaging in charitable and philanthropic activities.

One of the most significant contributions from Dr. Kaunda was uniting more than 70 tribes across Zambia into one nation, standardizing the economy, public governance in the process. Even though Zambia has a long way to go before it becomes in-line with other developed and growing nations, Dr. Kaunda was instrumental in creating a path for the Zambian government and authorities. This is Dr. Kaunda’s legacy and this is what Dr. Mahtani as well as Dr. Kaunda wants the Zambian citizen and its government to follow.

Dr. Mahtani and Finance bank

Supreme Court Announces Verdict In Dr. Mahtani’s Favour

The case of Portland Cement Zambia seems to be never-ending. It started at the Lusaka High Court and ended with Supreme Court Zambia, becoming one of those few cases coming to a full cycle. The case started when Portland Cement Zambia was unethically and illegally taken over, resulting in Dr. Mahtani approaching the Lusaka High Court for justice. Despite a long wait for more than a decade, Dr. Mahtani did not receive justice and justice Nkonde on behalf of the higher Court of Appeal announced the Ventriglia family as the majority shareholder, despite the fact that the Ventriglia family failed to provide any significant document proving their ownership. After that, Dr. Mahtani approached the higher Court of Appeal with the hope of quick justice. The judge at the higher Court of Appeal was justice Mwinde who gave the final decision on 31st January 2019. In this verdict, justice Mwinde reversed the previous decision from the Lusaka High Court and announced that Dr. Mahtani should be the majority shareholder and legal owner of the Portland Cement Zambia factory.

It seems like the Ventriglia family were dissatisfied with this transparent and unbiased judgement and decided to approach the Supreme Court Zambia regarding this matter. A bench of three Supreme Court judges was then established for evaluating these aspects. These included judge Mumba Malila, judge Royda Kaoma and judge Michael Musonda. Together, an investigation on the validity of the claim by the Ventriglia family was launched and the bench found several aspects. One of the most critical aspects was that the Ventriglia family failed to comply with critical legal requirement in which all claims against previous court decisions must be submitted within 14 days of the judgement. However, the Ventriglia family approached the Supreme Court Zambia only after 1.5 years of the decision. As such, the Supreme Court Zambia declared that the case was beyond their jurisdiction and also invalid due to technical and legal failures, rejecting it effectively.

Dr. Mahtani

Ventriglia Family Disregards Decision From Supreme Court

The decision on the Portland Cement should have ended with higher Court of Appeal’s decision. On 31st January 2019, justice Mwinde on behalf of the higher Court of Appeal reversed the decision on the Lusaka High Court and announced Dr. Mahtani as the majority shareholder and legal owner of the Portland Cement Zambia factory. It seems like the Ventriglia family was still not happy with this transparent and firm decision from the higher Court of Appeal. As a result, they decided to approach even a higher Court, the Supreme Court Zambia, with their appeal. In their appeal, the Ventriglia family challenged the verdict of the higher Court of Appeal. In response, the Supreme Court Zambia established a bench of three Supreme Court judges and evaluated the authenticity and validity of this claim. During evaluation, it was found that the Ventriglia family failed to comply with critical legal requirement in which all claims against previous court decisions must be made with 14 days of the court decision itself. This means the Ventriglia family was required to submit their claims within two weeks, meaning by mid of February 2019 in order for the claim to be valid. However, the claim was established after more than 1.5 years of the case proceedings, making the claim valid. In a similar manner, the Supreme Court bench found that the circumstances surrounding the claim was questionable and as such, the Supreme Court bench concluded that the claim was beyond their jurisdiction. After complete evaluation, the Supreme Court bench concluded that the claim holds no ground and is rejected by the Supreme Court. Furthermore, the Supreme Court bench also confirmed that they stand with the decision from the higher Court of Appeal meaning Dr. Rajan Mahtani stays the majority shareholder and legal owner of the Portland Cement Zambia factory.

Despite the decision from the Supreme Court Zambia, it has now come into attention that the Ventriglia family is still creating mischiefs at the Portland Cement Zambia.

Chairman Finance Bank Zambia

Portland Cement Factory Ownership Is Now Stable, Supreme Court Confirms It Its Statement

Dr. Rajan Lekhraj Mahtani is a noted businessman in Zambia. His successes expand to several companies and businesses including Mahtani Group of Companies, Finsbury Investments and Finance Bank Zambia. He is also known for his philanthropic and charitable activities, which often go unnoticed as Dr. Mahtani refrains from promoting or publishing his philanthropic acts. Despite this, Dr. Rajan Mahtani has faced several challenges in conducting his businesses. One of the biggest challenge till date has been associated with Portland Cement Zambia, a cement-manufacturing factory under dispute for more than a decade over its legal ownership.

Despite an official takeover by Finsbury Investments, the cement-manufacturing was unethically taken over by the Ventriglia family, prompting an appeal at the Lusaka High Court. However, the Lusaka High Court failed to provide transparent decision and announced Ventriglias as only shareholders after more than a decade of case proceedings.

Dr. Rajan Lekhraj Mahtani then decided to approach the higher Court of Appeal where justice Mwinde took over the case. The case proceedings went for around nine months and final verdict came on 31st January 2019. In this verdict, the decision from the Lusaka High Court was reversed and Dr. Rajan Mahtani was announced as the majority shareholder and legal owner of the factory.

The Ventriglia family, unhappy with this decision, launched another appeal at the Supreme Court Zambia. In their appeal they challenged the decision of the higher Court of Appeal. The Supreme Court then established a bench of three SC judges for evaluating the case. During evaluation, it was found that the Ventriglia family failed to comply with a critical legal requirement under which all claims against previous court decision must be made within 14 days of the case verdict. In this case, the claim by the Ventriglia family was made only after 1.5 years, making the claim invalid. Along with several other evaluations, the Supreme Court bench finally decided to reject the appeal by the Ventriglia family.