Breaking NewsBusiness

ZCCM-IH Demonstrates Commitment to Shareholders with Dividend Handover to NAPSA

In a significant display of commitment to its shareholders and the Zambian people,  Zambia Consolidated Copper Mines  Investments Holdings PLC (ZCCM-IH), led by Board Chairperson Mr. Kakenenwa Muyangwa, handed over a substantial dividend check of approximately K109 million to the National Pension Scheme Authority (NAPSA). 

The ceremony marked the eighth consecutive year in which ZCCM-IH has distributed dividends to its stakeholders.

Addressing the gathering, Mr. Muyangwa highlighted the core purpose of ZCCM-IH, emphasizing that the company’s primary shareholders are the Zambian people, represented by entities such as the Industrial Development Corporation, the Ministry of Finance and National Planning, the National Pension Scheme Authority, and minority shareholders.

Just a day before, ZCCM-IH presented a dividend check of K436 million to the Industrial Development Corporation, a record-breaking dividend within the IDC Group. 

Today’s handover to NAPSA underscores the company’s unwavering commitment to returning value to its investors.

Mr. Muyangwa explained that the ZCCM-IH is focused on generating consistent and predictable income through investments in brownfield and greenfield mining projects, while ensuring the maximization of value for the shareholders and the Zambian people.

ZCCM-IH has set clear strategic objectives in its 2020-2026 Strategic Plan to maximize shareholder value and returns. 

Key drivers within this plan include the development of alternative revenue streams that offer predictability, diversification into critical minerals like cobalt, manganese, lithium, nickel, and precious minerals such as gold, and supporting subsidiary companies to enhance productivity and profitability. 

Additionally, divestment from non-core mining assets and a focus on operational and financial performance are key priorities.

The company holds a strategic position due to its investments in critical minerals like copper, cobalt, and manganese. ZCCM-IH is dedicated to ensuring continued profitability and adhering to the strategic roadmap it has outlined.

Mr. Muyangwa concluded by saying that ZCCM-IH believes that it is ideally positioned to leverage the country’s mineral wealth for the benefit of the Zambian people, and this commitment remains at the core of our operations.

The handover of dividends to NAPSA signifies ZCCM-IH’s unwavering dedication to contributing to the economic growth and well-being of Zambia and its citizens.

Leave a Reply

Your email address will not be published. Required fields are marked *