ZCCM-IH Delivers 436 Million Kwacha Dividend to IDC Amidst Resilient Performance
ZCCM-IH, under the leadership of Chairperson Kakenenwa Muyangwa, demonstrated its financial strength and resilience by delivering a substantial dividend totaling over 436 million Kwacha.
This dividend reflects the company’s performance over the financial years 2021 and 2022, even in the face of a challenging business environment in the past three years.
Despite these challenges, ZCCM-IH exhibited robust growth. The group’s revenue soared from 174 million Kwacha in 2020 to an impressive 11.9 billion Kwacha in 2022.
A significant contributor to this remarkable surge was the strategic acquisition of Mopani Copper Mines, accounting for approximately 98 percent of ZCCM-IH’s group revenues.
Furthermore, ZCCM-IH’s profit levels displayed a remarkable upward trajectory, surging from 673 million Kwacha in 2020 to an outstanding 4.26 billion Kwacha in 2022.
This impressive financial performance underscores ZCCM-IH’s unwavering commitment to advancing the development and growth of Zambia’s mining sector.
During the handover ceremony of the substantial dividend, Chairperson Kakenenwa Muyangwa reiterated the company’s focus on driving development and growth within Zambia’s mining industry. He highlighted the instrumental role played by the acquisition of Mopani Copper Mines in ZCCM-IH’s success.
On the other hand, IDC Chief Executive Officer Cornwell Muleya commended ZCCM-IH for its significant dividend contribution. He emphasized that these funds will be dedicated to serving the people of Zambia, further bolstering the nation’s development. The substantial dividend showcases ZCCM-IH’s commitment to not only overcoming challenges but also fostering economic growth within the country.
