The Zambia Airports Corporation Limited (ZACL) has declared K5 million dividend to the Government through the ministry of finance as a shareholder for the period ending December 2018.
And speaking when he received the dividend cheque from the ZACL Vice Board Chairperson Prisca Chikwashi, Finance Minister Dr. Bwalya Ng’andu said the dividend was a positive sign that Government’s investments are being put to good use.
“We note that your corporation is one of a few state-owned entities who are not only conducting their business well but is making a profit and declaring dividends to the shareholder.” Dr. Ng’andu stated.
Dr. Ng’andu further commended the ZACL Board and Management for their hard work and consistency in ensuring that there are proper management and utilization of resources.
He added that it is for this reason that government has is focused on constructing and upgrading airport infrastructure to provide modern facilities that will enable the country to handle higher volumes of traffic and give airlines better service and passengers an improved experience.
He said Government remained confident that enhancing the aviation industry will not only yield good results but will attract tourists as well as investors thus improving the country’s socio-economic opportunities which will ultimately grow the economy.
He has since called on all state-owned entities to work together with the government to increase the nation’s Gross Domestic Product (GDP).
And in a speech read on his behalf by Ms. Chikwashi, ZACL Board Chairperson Mr. Milingo Lungu said this was the third time in four years that the corporation is presenting a Dividend to government.
He stated that in the period under review, great strides were made in the corporation’s quest to execute its five-year strategic plan from 2017-2021 effectively and to the fullest.
He announced that the corporation made a profit after tax of Eighty Million Four Hundred and Ten Thousand Five Hundred and Thirty-Eight Kwacha and paid taxes to Government in the amount of Three Million Two Thousand and Seventeen, Nine Hundred and Thirty Kwacha.
“From a safety perspective, you may also be interested to know that during the year under review, our airport in Livingstone, Harry Mwaanga Nkumbula International Airport was bestowed the ACL Africa Safety Award for Best Airport in Africa.” He added.
I hope this is not ZamPost revisited, where workers were so behind in salaries yet Macpherson Chanda and d.ull Mushimba were declaring dividends.
Is Zambia Airports up to date with workers’ salaries and suppliers’ payments?
381,156.11 USD for a whole year with all that infrastructure? Honestly a serious Chicken Egg farmer makes that in a year. You expect to pay back EuroBonds with such a meager income???
Muuno – I was thinking about the same. There is no supervision or accountability for these institutions.
@Mayo Mpapa..lol
This should be the case with all companies under IDC.Congrats ZACL,another company that I have read in the press declaring dividends under IDC is INDENI Oil Refinery.Is it not possible for the minister of Finance as chief shareholder in all SOEs under IDC to summon board members of those SOEs not declaring dividends for an explanation? because in the corporate world,compensating failure is not an option and IDC has been going round giving lectures on how they are corporatizi ng State Owned Enterprises.
Mayo well spoken, this dividend thing is just about ripping off poor workers to please the master. Don’t get shocked to hear that workers are not paid or they get very low wages which the west makes fun of living on a dollar per day. Take care of the workers first than handing this money over to the thieves in government
That is too small for a corparate like Zambia airways with those massive infrastructures going on.
How do you pay back for them, that money is already by only one Zambian Aircraft flying at the moment for the next flight.
It’s a big shame, you don’t have to share it.
Where are the toll gates monthly takings, Zambia has to pay for the euro bonds