Govt optimistic of ZCCM-IH profitability

By Staff Reporter

GOVERNMENT has commended ZCCM-IH Board, management and staff for their effort in keeping the company on a profitable path.

Speaking when she received a dividend cheque of K16.8 million from ZCCM-IH acting chief executive officer Mabvuto Chipata at her office in Lusaka yesterday, finance minister Margaret Mwanakatwe said the government was anticipating more and much bigger dividend in the near future.

The minister tied her hope on bright prospects in the copper prices.

She called on other State-owned enterprises to emulate the performance of ZCCM-IH by being more creative and working hard at turning around their institutions to profitability.

“My ministry will continue providing a conducive environment for better performance of State-owned enterprises by providing right policies,” noted Mwanakatwe.

“I’m delighted to receive a K16.8 million dividend cheque from ZCCM-Investments Holdings Plc. This marks the third time that the government is receiving a dividend cheque from ZCCM-IH.”

And Chipata promised that: “ZCCM-IH will continue to play a pivotal role in the mining sector for which the ZCCM0-IH brand is deeply associated.”

The shareholding portfolio of the ZCCM-IH is such that the government, through the Ministry of Finance, has 77.6 per cent.

Out of the government shareholding, 60.3 per cent is owned by the Industrial Development Corporation and 17.25 per cent is owned by the Ministry of Finance.

NAPSA owns 15 per cent while the remaining 7.4 per cent is owned by various minority shareholders.

Last week, ZCCM-IH handed over two dividend cheques out of the K98.1 million total dividend for the 2018 financial year.

The cheque was a net dividend of K50.3 million to the IDC and the other one worth K14.7 went to NAPSA.