Zambia
Corporate Guide

What are the different types of companies that can be incorporated in Zambia?

Public company

This is a company which, if it so wishes, can have members of the public subscribe to its shares by being listed on the Lusaka Stock Exchange. The articles of the company do not place a restriction on the transfer of shares of the company (section 7 of the Companies Act).

Private company limited by shares

This is a company in which a member, in the event of the winding-up of the company, shall be liable to contribute an amount not exceeding the amount, if any, unpaid on the shares held by that member (section 9 of the Companies Act).

Private company limited by guarantee

This is a company in which a subscriber in the company makes a declaration of guarantee specifying the amount that the subscriber undertakes to contribute to the assets of the company in the event of the company being wound up (section 10 of the Companies Act). This type of company is only incorporated for non-profit making purposes. 

An unlimited private company

This is a company in which a member, in the event of the winding-up of the company, shall be liable to contribute without limitation of liability (section 11 of the Companies Act).