Transport and Communications Minister Brian Mushimba with Officials from Zambia Railways
Transport and Communications Minister Brian Mushimba with Officials from Zambia Railways
Zambia Railways Limited has declared a One hundred thousand Kwacha dividend to the Industrial Development Corporation- IDC.

This is the first time the company is declaring a dividend from the time the concession of the company to Railway systems of Zambia was cancelled.

Zambia Railways Board Chairperson Lubinda Linyama says the company has pledged transparency and accountability in all its dealings.

Mr. Linyama says the company also intends to be profitable and play its role in supporting the country’s industrialization policy to promote key economic development.

He says progress is being made to ensure the translation of SI number seven that requires heavy and bulk cargo to be transported by rail is properly implemented.

Mr. Linyama says with several measures being put in place, Zambia Railways will work towards achieving its target of eight hundred thousand tonnage and revenue of 23 million United States Dollars by the end of 2018.

He was speaking in Lusaka today during the handover of the One hundred thousand Kwacha cheque for the dividends of 2014 to the Industrial Development Corporation- IDC.

And IDC Chief Executive Officer Mateyo Kaluba said the corporation expects all State-owned enterprises to play their role and make profits.

Mr Kaluba said this in a speech read on his behalf by IDC board Member Geoffery Sakulanda.

He said State Owned Enterprises must step up and show commitment towards making profits.

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22 COMMENTS

  1. Congratulations Lubinda and the ZR team. This country just needs more young guns like you in the right positions and WE WILL ROLL…

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    • Zambian Citizen you are congratulating Mr linyam for ZR having paid K100,000 worth of dividends when Tazama paid K6,000,000. Are really serious? Kkkkkkkkkkey. This is a joke of century really. K100,000 that ZR itself cannot buy even two wagons of slexperience. Oh by the way this peanut is onlyour two boreholes according to GRZ standard. Let’s be serious for once…….!!

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    • It’s not the size of the divided, it’s the fact that they are even able to pay out one. It means they are not in the red but are running profitably. Does progress by this country hurt you feelings??

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    • Surely K100, 000 (less than $10, 000), please ZR pull up the socks. Our country is looking for a day when you will meaningful contribute to paying back the Kaloba. Recall a lot of money was invested in that company and all you can pay back is $10, 000. Sure we are in trouble. How dare you dream of millions when you are declaring K100, 000

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  2. Even when Mazoka was Chief they never declared? True story, he was transporting animos for free which led to HH get MAD COW DISEASE! True story only that I don’t know how to put it! Maybe Galu Watchers in Zambia can do a good investigative report like MSNBC and tell us the story! Because “TONGAS” cannot be “Thieves!”

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    • Indeed, it is not the size of the company. But if really you understand ZR very well, then you can’t mention of the company being in red. My friend ZR is in ICU such that the company cannot stand on its own without GRZ support. And if their is a difference between profit and loss, then ZR doest know it because as at today even offering a 0.01 percent salary increase is suicidal. Let us be real and factual ZR is beyond red infact black and needs sober strategic decision. The board is not impressing any body. Find solutions and don’t hide in dividends which are not there. Can you bring in investors on PPP arrangements with a 50 precent stake each so as to protect the interests of Zambians. Not the RSZ way. We learnt a bitter pill with RSZ arrangement.

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  3. So after boma gave ZR $150 million of the $750 million Eurobond, 5 years years later the dividend is just over $8,333?

    What a bad deal. If it were a private firm it would have gone under.

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    • Ichilubi in Namwala will never go to State House. Most likely will retire in 2021 and GBM will inherit the post! Mmmm!

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  4. What ? ZR declaring a dividend? Nimaloza aya. Mupamba uyu. Any way, one can only hope that this is out of creative accounting. Congrstulations if its legit.

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  5. Great achievement!!!
    After investing more than USD 100 Million, after TWO years return on investment paltry 10 thousand USD!!!
    Bravo, well done incompetent bunch of corrupt economic and business !MBECILES!!!

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    • Well done HH failing to be elected 5 x now will not for the 6th time! Incompeted tribal corrupt economic saboteur! You must go back to the land in Namwala instead of wasting people’s time!

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  6. Sometimes let us put JoKes and discuss issues objectively. Zambian Citizen needs data on ZR because to him/her having paid dividends then the company is doing fine. Not SOEs my friend and ZR is one of the best examples of a failed deal under the liberalised economy. In 1967 ZR moved 6.4million MTN of cargo; in 2009 RSZ moved 0.50 million MTN. Afierce taking over, ZR has not hit a 1milliion Mt. Last year zr moved about 0.9 million Mt. For your information in 2010 indian’s average daily tonnes moved was 1 million Mt. So you see how low national railway is. So boss research before you expose your employer cognitive ability.

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