KALONDE NYATI, Lusaka
ZCCM-INVESTMENT Holding (IH) has in the last three years declared dividends amounting to K170 million to the Industrial Development Corporation (IDC) becoming a top performer under the group.
IDC Group chief executive officer Mateyo Kaluba has since urged ZCCM-IH to remain consistent and live up to the standard it has set for itself over the years.https://epaper.daily-mail.co.zm/
Source: Zambia Daily Mail
Zambia’s Largest Independent Power Producer Transforming Face Of Maamba.
Contributing around 10% of the nation’s electricity generation capacity has a huge impact on the nation’s energy security and the economy in general, but for Maamba Collieries Limited (MCL), its endeavours do not stop there.
The sponsors and management of MCL understand that no business can be successful, unless the community around it shares in that success. Towards this vision, the company has set up the Maamba Development Trust (MDT), whose motto is, “Making a Difference…”
The objective is to spearhead social and economic development in Maamba, Sinazongwe District, and in other areas where Maamba Collieries operates. MCL’s Corporate Social Responsibility (CSR) initiatives are part of the company’s social investment policy, centered on community development and improving the living conditions of the people. The initiative is built on four pillars – education, health, infrastructure development and sports, apart from conserving the environment as well as assisting with other needs of the community.
On the education front, MCL runs the Maamba Private School with over 500 local students and a Nursery for around 160 toddlers, while also providing regular support to the GRZ-run school for differently abled children.
Towards improving health facilities, MCL partnering with the Ministry of Health, is setting up a state of the art eye care unit in Maamba General Hospital to provide eye care to the needy in the district and beyond. MCL is also in the final stages of building a clinic near Lake Kariba which will provide access to medical facilities for around 10 remote villages and fishing camps.
The cornerstone of MCL’s CSR interventions has been laying new roads in the Maamba Township – roads which had not seen any work for over four decades – thereby providing dust free and safe roads to travel.
On the sports and fitness front, the company sponsors the First Division Maamba Energy Stars F.C., and provides access to the sporting facilities including golf, tennis, squash and badminton to the local community of Maamba Township.
Meanwhile, the Company has been contributing to the development of the youth and less privileged by running TEVETA approved welding & metal fabrication & power electric courses in its modern, well-equipped Training Centre. Towards sustaining the livelihood needs of the people, the Company runs tailoring and carpentry classes for local women and menfolk, skills which they can use for supplementing their meagre income.
“In order for us to mitigate the impact of mining and thermal power generation operations, environmental conservation remains a key focus area. We endeavor to plant over 30,000 trees every year and continuously undertake rehabilitation of waste dumps in order for us to preserve our environment,” said Head Corporate Affairs PJ Sudhir.
Meanwhile, MDT Manager, Mr. Jethro Sikalunda highlights that, “MCL also provides much needed access to water for the people of Sinazongwe, by pumping water through a 28-km pipeline from Lake Kariba to SWASCO – to meet the community needs for potable water”.
He added that, “The company also provides support to the three chiefs in its area of operations”.
With the support of all stakeholders, MCL has been transforming the face of Maamba, bringing much-needed social and economic empowerment, and essentially, MAKING A DIFFERENCE by improving the lives of the community in Maamba and the district of Sinazongwe.
ZCCM-IH has handed over a total of 53 million dividends to majority shareholders that include Ministry of Finance, National Pensions Scheme Authority (NAPSA) and the Industrial Development Corporation.
Speaking during the handover ceremony of the dividend Cheque of approximately 7.9 million Kwacha to National Pensions Scheme Authority (NAPSA) in Lusaka, ZCCM-IH Chief Executive Officer Mavuto Chipata said the fourth dividend to the Authority is a fulfillment of one of the strategic pillars and a demonstration of the company’s commitment to its stakeholders for them to get a return on their investment.
Mr Chipata said ZCCM-IH remains resolute in ensuring that it continues to be profitable driven by devised in the 2018-2023.
“This fourth dividend cheque is a fulfillment of one of our strategic pillars, and today is a demonstration of our commitment to our shareholders, for them to get a return on their investment in ZCCM-IH” Mr Chipata said.
He explained that despite Copper remaining the mainstay commodity within the group, ZCCM-IH is widening it’s footprint in the mining sector by developing new products such as manganese in Central Province and gold processing in Rufunsa, Mumbwa and Mwinilunga.
And receiving the cheque (NAPSA) Director General Yollard Kachinda said the move by ZCCM-IH demonstrates the viability of NAPSA’s investments in various assets as guided by its investments guild lines.
“National Pensions Scheme Authority (NAPSA) has over 16, 000 pensioners on its payroll with a total pension payout in 2019 standing at over one billion Kwacha” Mr Kachinda said.
He adds that the cash flow ploughed back to turn the economic will of the country.
And speaking when he handed over a dividend cheque of approximately 27.2million Kwacha to the Industrial development Corporation (IDC), ZCCM-IH Chief Executive Officer Mabvuto Chipata said the Corporation’s strategic pillars are to increase shareholders value through consistent dividend pay-outs and portfolio optimization.
Mr Chipata mentioned that presentation of the Cheque presents the last Cheque to the majority shareholders from a total of 53 million Kwacha.
“One of our strategic pillars is to increase shareholder value through consistent dividend pay outs and portfolio optimization” Mr Chipata said.
He added that ZCCM-IH also has various minority shareholders both individual and institutional numbering over 3000, that are getting their fair share from the remaining 8.7 million Kwacha.
And receiving the Cheque, Industrial Development Corporation Group Chief Executive officer Mateyo Kaluba said the dividend received will be invested in green field projects and support to other companies in the group that are struggling.
Meanwhile speaking when he received a dividend cheque of K9.1 million Kwacha Finance Minister Dr 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.
Source: Money FM Business Radio
MINISTER of Mines and Minerals Development Richard Musukwa has reiterated that there was no duty on processing minerals from the Democratic Republic of Congo.
H explained that what government introduced was a five per cent import duty on copper concentrates and ores coming from the DRC.
“Zambia has a total holding capacity of 1.1 million tonnes and the Zambian government is aware of the under-utilisation of the smelters in 2019,” Musukwa said during questions for oral answer in Parliament on Tuesday.
He said the utilisation of smelters at the mines in 2019 could not solemnly be attributed to the imposition of duty on the copper concentrates and ores.
“The smelters at Mopani and Konkola Copper Mines has a holding capacity of 527,000 tonnes per annum and were not fully operational in 2019. Smelters at Mopani Copper Mine was shut down due to a technical restructuring due failure. The smelter at KCM was also not operational in 2019 due to faults and logical maintenance which was long overdue causing the company to shut down its operations,” said Musukwa.
Source: The Mast
The year 2020 has begun on a positive note for the National Pension Scheme Authority (NAPSA) which yesterday received a dividend cheque worth K7.9 million from the Zambia Consolidated Copper Mines-Investment Holdings (ZCCM-IH), one of its investments on the Lusaka Securities Exchange.
Speaking when he received the cheque at NAPSA Head office, NAPSA Director General Mr. Yollard Kachinda said NAPSA was a key player in Zambia’s economy and in the provision of social security.
Mr. Kachinda noted that the Authority had a fiduciary responsibility to safeguard and grow members’ funds by engaging in viable investment projects as a business objective to make a return.
Mr. Kachinda further added that NAPSA’s primary objective was to provide long term income security to its members and their families.
“You may wish to know that currently the authority has over 16,000 pensioners on its payroll with a total pension payout in 2019 standing at over one billion kwacha. This is cash flow which is ploughed back to turn the economic wheels of the country,” he said.
Mr. Kachinda assured members of the scheme that NAPSA would protect their welfare and continue to work in their best interest by choosing investments that would bring meaningful returns for their benefits.
And presenting the cheque to NAPSA Director General, ZCCM-IH Chief Executive Officer, Mr. Mabvuto Chipata said ZCCM-IH remained resolute to see to it that the organisation continued to be profitable as devised in its strategic plan.
“Our strategic plan is underpinned by a transformative investment agenda aimed at driving sustainable growth in the company for the benefit of all our stakeholder,” said Mr. Chipata.
NAPSA is the second largest shareholder in ZCCM-IH with 15% shares after the government.
Source: NAPSA Website
Provision of Security Services to ZCCM-IH as Follows:
Lot 1 – Investments House, Kantanta Street, Kitwe; Technical Library and Mawe Complex in Kalulushi; and ZCCM-IH Residential Houses in Chingola (01) and Luanshya (01)
Lot 2 – ZCCM-IH Office Park, Stand No. 16806, Alick Nkhata Road, Mass Media Area, Lusaka; 30B Kudu Road, Kabulonga, Lusaka; Plot No. 1852/M, 3rd Street, Ibex Hill, Lusaka and Village Villas in Roma Park, Lusaka
Lot 3 – Kabwe Offices and Laboratory, Kabwe
ONB No: ZCCM-IH/009/2020
Procuring Entity: ZCCM Investments Holdings Plc.
Bid Document: Download Document
National Pensions Scheme Authority (NAPSA) says it has the objective to provide long term income supply to its members.
NAPSA Director General Yollard Kachinda said that authority has the fiduciary responsibility to safeguard and grow the members by engaging in viable investment projects.
Mr. Kachinda said this during the handover of the dividend cheque worth K7.9 million from ZCCM-IH at NAPSA Headquaters in Lusaka today.
“The interests of workers contributing to NAPSA will always be at the center of every investment we make, thus we will always ensure that we invest and grow the fund in a transparent and prudent manner which will result in a financially sustainable scheme, ” he said.
Mr. Kachinda further disclosed that the authority currently has over 16, 000 pensioners on its payroll with a total payout standing at over K1 billion in 2019.
He further assured that the cash flow will be ploughed back to ‘turn the wheels of the economy’ through paying the securities to pensioners.
Meanwhile, ZCCM-IH Chief Executive Officer Mabvuto Chipata opened up on NAPSA’s investment in the company.
“NAPSA is one of our key shareholders with a 15 percent stake in ZCCM-IH. This fourth dividend cheque is a fulfilment of one of our strategic pillars and it demonstrates our commitment to our strategic shareholders, for them to get a return on their investment,” Mr. Phiri added.
He further said: “Our strategic plan is underpinning by a transformative investment agenda aimed at driving sustainable growth in the company for the benefit of all our stakeholders.”
The ZCCM-IH boss remains positive about the future outlook of the company.
ZCCM-IH has paid a divided total sum of K55, 833, 959. 26 from profits to NASPA since 2014.
Source: Tech Watch News
Finance Minister Bwalya Ng’andu says all state-owned enterprises that fail to perform will face sanctions by government.
Dr Ng’andu says government investments in state-owned enterprises are aimed at getting a reasonable return to allow the country raise finances to meet other developmental objectives but only a few companies have been fulfilling their financial obligations to government.
The Minister was speaking this morning when he received a dividend Cheque of K9.1 million from the Zambia Consolidated
Copper Mines Investments Holdings-ZCCM-IH for the financial year ended 31st march 2019.
At the same event, ZCCM-IH- Chief Executive Officer Mabvuto Chipata said in the last general meeting held this year, the firm approved a total dividend payout of K53 million from the total profit of K448 million.
Mr. Chipata said in the 2019 financial year, the company increased stakes in Kariba Minerals and Copperbelt Energy Corporation and invested in new companies such as Kabundi Resources.
Source: Radio Phoenix
FINANCE minister Bwalya Ng’andu says government has shares in too many companies which do not pay out dividends to shareholders.
And ZCCM-IH chief executive officer Mabvuto Chipata says his company has held on to some of the profits made to invest in new projects.
Speaking when ZCCM-IH handed the ministry their fourth cheque for the year ended march 2019, Dr Ng’andu said the government was looking to all companies to start declaring dividends to the treasury.
“It is delightful to receive a dividend cheque from ZCCM-IH this morning and more importantly this marks the fourth year in which the company has continued to pay dividends,” he said.
“This occasion this morning is an occasion which is meant to send a message to all companies within the IDC group of companies to which government has shares in because there should be no too much hullabaloo about receiving dividends from a company because that is what companies do. They are supposed to pay dividends to the shareholders in the normal course of their operations.”
Dr Ng’andu added that, “The fact that we are making so much issue out of this payment simply indicates one thing which is that there are far too many companies within the IDC group of companies in which government has shares which are not paying their dividends.”
He asked companies which did not remit dividends to do so as government wanted returns on its’ investments.
“I want this to go out as a message to all of them that we expect this to be the case. The reason government invests resources in companies is for the companies to ensure that there is an adequate return on investments,” he said.
“Moving forward, we want ZCCM-IH to take a centre stage within the mining area, currently ZCCM-IH invests in a number of mining companies but it’s more of a passive investment but we want the company to go beyond passive investment…we want to see increased participation of the company in the mining sector, in other strategic minerals and taking a centre stage, a more active role.”
Dr Ng’andu said he had tasked ZCCM-IH to help the government make profit from the gold deposits around the country.
“ZCCM-IH has been identified as the anchor company to drive the national gold agenda. We remain optimistic that it will play a critical role in harnessing the gold potential for the benefit of this country. We believe the formation of ZCCM-IH Gold Company Limited in which the government owns 49 per cent of the shares through the Ministry of Finance will see more proactive participation in the investments to be undertaken throughout the gold value chain in the country,” he said.
“Government through the Bank of Zambia has identified the purchase of gold as one of the mechanism to enhance the country’s international reserves apart from the other measures the central bank undertakes to replenish and raise its resources.”
He said he was informed that there were about 21 gold occurrence areas around the country that are to be exploited.
“As a ministry, we will give all the necessary support to the endeavours of ZCCM-IH Gold Company Limited in harnessing the gold potential in the country,” Dr Ng’andu pledged.
He said it was important that state owned companies especially those whose performance was not satisfactory pursue more aggressive reforms and strategies that would turn them to profitability and cease to be a burden on the treasury.
And Chipata said ZCCM-IH had put aside some money to invest in new projects for this financial year.
“Dividends are declared out of profits and if you see between the last financial year and this financial year, the previous year we had a profit of K800,000,000 as a group, this time around we had K448,000,000 but more so, we are looking at new projects,” he said.
“So we have to leave some cash to invest in new projects so in addition to profitability, what determines the amount that you are going to distribute to shareholders, you have to look at the future projects so we have had to leave some cash within the company to invest in new projects with the belief that we have to increase the dividend distribution going forward.”
The government owns 17.3 per cent shares in ZCCM-IH and for the last financial year a cheque worth over K16.8 million was presented to the Ministry of Finance.
Source: The Mast
I am happy to be here to present this dividend cheque to the National Pension Scheme Authority, of approximately K7.9 million.
NAPSA is one of our key shareholders with a 15% stake in ZCCM-IH.
This fourth dividend cheque is a fulfillment of one of our strategic pillars, and today, this is a demonstration of our commitment to our shareholders, for them to get a return on their investment in ZCCM-IH.
We remain resolute in seeing that ZCCM-IH continues to be profitable, driven by the strategies we have devised in our 2018 to 2023 strategic plan.
Our strategic plan is underpinned by a transformative investment agenda aimed at driving sustainable growth in the company for the benefit of all our stakeholders.
Ladies and gentlemen, even though Copper remains the mainstay commodity within our Group, we are widening our footprint in the mining sector by developing new product lines such as Manganese in Central Province, and Gold processing in Rufunsa, Mumbwa, and Mwinilunga.
All these projects are just waiting finalisation of statutory approvals, which we envisage should be concluded anytime soon.
We are focused on generating consistent and predictable income through investments in brownfield and Greenfield projects while ensuring and maximizing value for our shareholders.
We remain positive about the future outlook of the Company, as we continue to create value and sustainable growth in line with our strategic plan activities.
Thank you all for listening.
Source: Financial Insight Zambia