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Zamcargo has reportedly declared a K4.2 million dividend to the Industrial Development Corporation (IDC), marking the company’s first-ever return to its shareholder since its establishment.
IDC Chief Executive Officer, Cornwell Muleya, received the dividend cheque on behalf of the state-owned holding company and commended Zamcargo’s board and management for the company’s improved financial performance.
“It’s a great pleasure to receive this return on the investment that Zambia has made through IDC, on behalf of the people of Zambia,” Muleya said at a handover event in Lusaka.
He said the company’s long-term strategy is yielding tangible results and urged the management to maintain its trajectory.
Zamcargo Board Vice Chairperson, Muyunda Munyinda, attributed the performance to governance reforms, skills development, improved internal controls, and a renewed focus on business expansion.
He said the company, founded in 2001 and headquartered in Dar-es-Salaam, was created to facilitate efficient handling of Zambian imports and exports while reducing foreign exchange losses caused by delays at ports.
Munyinda announced that Zamcargo was now expanding its operations with a second depot in Tanzania and entry into new markets such as Namibia, which is expected to boost cargo capacity and revenue.
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