“ZCCM-IH Gives K41.6M to Govt”
…. Dr. Musokotwane urged state-owned enterprises facing profitability challenges to emulate ZCCM-IH’s creative and hardworking
By Francis Maingaila ♥️
LUSAKA, Zambia24 — ZCCM Investments Holdings (ZCCM-IH) presented a K41.6 million dividend cheque to the Ministry of Finance and National Planning on Tuesday, an event marked by commendations and future aspirations.
Minister of Finance and National Planning Situmbeko Musokotwane urged state-owned enterprises facing profitability challenges to emulate ZCCM-IH’s performance by being more creative and hardworking.
During the ceremony, Dr. Musokotwane highlighted the need for these enterprises to enhance their viability and profitability.
“For the past ten years, the Ministry has received K283 million from the group,” Dr. Musokotwane stated.
“This affirms the government’s commitment to providing a conducive environment for better performance of state-owned enterprises through appropriate policies. We hope to see sustained growth in the company and much bigger dividends in the future considering the bright prospects in the industry.”
Dr. Musokotwane praised ZCCM-IH for its efforts and hard work in maintaining profitability, expressing optimism for the company’s increased participation in the mining sector, particularly in strategic and critical minerals.
“Moving forward, we are hopeful to see ZCCM-IH increased participation in the mining sector in other strategic and critical minerals,” he added.
ZCCM-IH Chief Executive Officer Ndoba Vibetti attributed the company’s ability to distribute dividends to consistent positive performance anchored on resilience and profitability for nearly a decade.
“We remain optimistic about the future outlook of ZCCM-IH, which is largely anchored on various productive activities within our portfolio companies, citing Kasenseni Mining PLC, Mopani Copper Mines, and Konkola Copper Mines among others,” he said.
Dr. Vibetti expressed gratitude to the Ministry of Finance and National Planning for its unwavering support and emphasized the company’s dedication to creating sustainable wealth for the benefit of the Zambian people and all stakeholders.
“We remain grateful to the Ministry for their unwavering support,” Dr. Vibetti said.
“Our endeavors to create sustainable wealth are for the benefit of the Zambian people and all stakeholders.”
The presentation of the K41.6 million dividend cheque underscores the ongoing efforts of ZCCM-IH to contribute significantly to the nation’s economy and highlights the potential for other state-owned enterprises to follow suit.