Gov’t Receives Over K105M Dividend from TAZAMA Pipelines in Major Energy Sector Milestone
The Government of Zambia has received a K105.4 million dividend from TAZAMA Pipelines Limited for the financial year ending December 31, 2024, marking a significant achievement in the performance of the state-owned energy infrastructure company.
Speaking during the dividend handover ceremony in Lusaka, Minister of Finance and National Planning Dr. Situmbeko Musokotwane, MP, praised the leadership of TAZAMA for delivering strong financial results and reaffirmed Government’s commitment to modernizing the energy sector.
“This dividend is more than a financial return,” Dr. Musokotwane said. “It reflects improved efficiency and governance in one of Zambia’s most strategic infrastructure assets. It will support our broader developmental goals.”
TAZAMA reported revenue of K1.4 billion and a net profit of K632 million in 2024—a 17.5% increase in profitability compared to 2023.
The Minister highlighted the vital role TAZAMA plays in Zambia’s economy by transporting petroleum products from Dar es Salaam, Tanzania, ensuring fuel supply for transport, industry, and public services.
He stressed the importance of pipelines as the cheapest and most efficient mode of fuel transportation over long distances.
Dr. Musokotwane also announced progress under the TAZAMA Open Access Framework, a key part of Government reforms to open the pipeline to private fuel suppliers, promote competition, and stabilize fuel prices. Guidelines for third-party access are now available on the Energy Regulation Board’s website.
“TAZAMA’s success proves that with strong governance and private sector participation, public institutions can be profitable and impactful,” he concluded. “This is a model for future state-owned enterprise reform and private sector-led growth.”
