THE latest Auditor General’s report on parastatal bodies has revealed that in 2020, the National Pensions Scheme Authority (NAPSA) acquired a total of 1,336,385 ordinary shares in Marcopolo Tiles Zambia Limited, Wonderful Group Industries Zambia Limited and MTN without conducting a valuation of the shares at the time of purchase. The report states that as a result, valuations carried out in subsequent years resulted in a write-down of Marcopolo and Wonderful Group’s share values by K952 million, from K1.3 billion to K461 million as at December 31, 2023, indicating that there was a possibility that the shares were over-priced. “In 2020, the Authority acquired a total of 1,336,385 ordinary shares in the Marcopolo tiles Zambia Limited, Wonderful Group Industries Zambia...