The ZCCM-IH has handed over a 9.1 Million Kwacha fourth dividend cheque to the Ministry of Finance for the financial year ended 31st March, 2019.

Speaking at the handover ceremony, ZCCM-IH Chief Executive Officer Mabvuto Chipata said the company’ shareholders approved a total dividend payout of K53 million during the annual general meeting held last month and that the group made a profit of K448 million which was largely driven by an increase of 155% in revenue
Mr. Chipata said ZCCM-IH will continue to play strategic role in the growth of the mining sector and its contribution to the country’s revenue.

“I am happy to be here to present the fourth dividend cheque to the Ministry of Finance for the financial year ended 31st March, 2019.”
“In the last annual general meeting held on 14th January 202, ZCCM-IH shareholders approved a total dividend payout of K53 million. As a group, we made a profit of K448 million which was largely driven by increase of 155% in revenue,” Mr. Chipata said.
He added that last year, the company increased its stakes in Kariba Minerals and Copperbelt Energy Corporation and invested in new companies such as Kabundi Resources which is responsible for Manganese mining.
“As a company, we remain focused on continuing to create value and portfolio growth. Our core strength lies in the mining sector, as such we shall continue to play strategic role in the growth of this sector,” he stated.

And speaking when he received the dividend cheque, Finance Minister Bwalya Ng’andu commended ZCCH-IH for being consistent in delivering returns to its shareholders for the past few years.
“I am particularly happy that ZCCM-IH has been consistent in delivering returns to its shareholders for the past few years with this dividend being the fourth pay out to be declared,” Dr. Ng’andu said.

He stated that as shareholders of 17.23% stake in the company, government notes that ZCCM-IH has continued to create value in its investments in order to sustain growth and maximum shareholder value.

“We believe that the formation of the ZCCM Gold Company Limited in which we own 49% shares as a Ministry, will see more proactive participation in the investments to be undertaken throughout the gold value chain in the country,” he stated.
Dr. Ng’andu urged other state owned companies to emulate ZCCM-IH adding that those whose performance is not satisfactory should pursue more aggressive reforms and strategies that will turn them to profitability and cease to be burden on the treasury.