Govt receives K5m dividend from ZAC

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Mutati

Zambia Airports Corporation [ZAC] has paid a K5 million dividend to the Government for the financial year ending 31st December, 2016.

Presenting the cheque to Finance Minister Felix Mutati; the Government shareholder, ZAC board chairman Milingo Lungu said the presentation of a dividend cheque by ZAC for the second year running is a demonstration of the commitment, values, and work ethic that the corporation has adopted in its quest to become a leading provider of world-class airport and air navigation services in the region.

“We have embarked on implementation of a new five year Strategic Plan for the period 2017 to 2021 to facilitate ZAC’s ascension as a leading provider of world-class airport and air navigation services in the region,” said Mr. Lungu.

Speaking at the same function, Communications and Transport Minister Brian Mushimba congratulated ZAC for being a shining gem among State-Owned-Enterprises [SOE’s], adding that, “this is as a result of the good performance management policies that the Government has put in place.”

“The issuance of dividends by State-Owned-Enterprises [Parastatals] is a norm that should be nurtured to sustainable levels to ensure that the Government boosts its income streams through the investments made in these companies,” said Minister Mushimba, adding that, “the significance of this event speaks to what President Edgar Lungu stated in Parliament on the need for Government owned companies to refocus and be managed on the basis of best practice, cost-optimization, and profitability.”

And Minister Mutati has said SOE’s should not create a burden on the Treasury but must stand on their own feet, adding that, “what we have done today shows that well-managed SOE’s are able to pay dividends.”

“We invested in order to get a return and we are also focused on ensuring that our domestic revenue collection exceeds the 2017 budget target by the end of the year,” said Mutati.

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Start: 2019-07-01 End: 2019-07-31