The Mulungushi Village Complex Limited (MVCL) is a limited liability hospitality company established by the Government of the Republic of Zambia (GRZ) in 1970 to provide short and long stay accommodation including conference facilities. The initial purpose was to host the Non-Aligned Heads of States that were attending the Non Aligned Heads of State and Government Conference that was held in September, 1970. There after the MVCL was transformed into a limited liability company and its infrastructures put to commercial use. The company was incorporated into a limited liability in 2006 and became wholly owned by the Ministry of Finance (MOF). The MOF owned 100% shares in the company on behalf of GRZ, until 24th August 2015, when the shares were transferred to the Industrial Development Corporation (IDC).
The MVCL is situated on stand number 10967 in Kalundu’s residential area along Lunsemfwa Road, 300 meters off the Great East Road and opposite the University of Zambia in Lusaka. There are 89 four bedroomed fully furnished luxurious villas, 16 fully furnished luxurious apartments, central amenities building comprising with 7 guest rooms, offices, restaurant, swimming pool, boardroom, squash and tennis courts. The MVCL covers an area 43.45 hectares.
The MVCL is now governed by an independent Board of Directors. The Board of Directors are responsible for the governance, control and administration of the MVCL. The Board members are appointed by the Minister of Finance and are drawn from the Economic Association of Zambia (EAZ), Zambia Institute of Chartered Accountants (ZICA), Law Association of Zambia (LAZ), MOF, Tourism Council of Zambia (TCZ), the Copperbelt University and the Ministry of Tourism and Arts. The Board of Directors is the supreme authority of the MVCL. The Board Chairperson is appointed from among the Board members. The Board of Directors are assisted by the Committees of the Board. The Committees of the Board comprise the Staff, Administration and Legal Committee (SALC), the Finance Committee, the Investment and Business Development Committee and the Audit and Risk Management Committee.
The MVCL corporate governance structure is as presented below.
The principal officer of the MVCL is the Chief Executive Officer. The Chief Executive Officer is appointed by the Board of Directors. The Chief Executive Officer is assisted by the Finance Manager and Board Secretary, the Human Resource and Administration Manager, the Operations Manager and the Property Development and Maintenance Manager. The above form the senior management team. All Departments are headed by a Manager. A high level management structure is presented below.