Marcopolo Tiles Company Limited has declared its first dividend worth K72 million to its shareholders.
Speaking when he received the dividend cheque on behalf of other shareholders, IDC Group Chief Executive Officer Mr. Mateyo Kaluba hailed Marcopolo Tiles for delivering a strong performance in the financial year 2020, despite difficult times arising from the COVID-19 pandemic.
Mr. Kaluba said he is happy that the company never allowed the COVID -19 pandemic nor the negativity that accompanied their investment to detract them from the important job of growing the company.
The Group CEO disclosed that the Corporation is proud to be part of this strategic investment that has created 700 direct jobs, created a new value chain in the manufacturing sector, and repositioned Zambia from an importer of tiles to a regional exporter.
Speaking at the same function, Marcopolo Tiles Acting Chief Executive Officer Mr. Roy Mwamba attributed the successes recorded, to the phased approach that his company has taken to assert itself as a strategic investor in Zambia.
Mr. Mwamba explained that Marcopolo Tiles is currently operating at phase three.
Phase four will commence in the second week of August 2021 with the production of sanitary ware which will be the first in Zambia and the region.
He further disclosed that his company will start the production of high dimension tiles which are currently only manufactured in Eastern Asia and Europe.
In August 2020, the IDC acquired 22.61% shares in Marcopolo Tiles while NAPSA and WCFCB acquired 16.39% and 10% respectively
Zambians don’t understand those dividend sh!t, they can’t vote on that.
Here is one success story coming out of Zambia of value-addition in the manufacturing sector which needs to be celebrated. Yet critics of government will dare not applaud this great achievement of government attracting a foreign Chinese investor to invest in the addition of value to Zambian raw materials to manufacture tiles for both the local and the international market. Critics continue to say government has done nothing even with such a success story that has created jobs for Zambians. The Bembas say only one keen on bewitching others [the current government in this case] does not or will not give praise where it is due.
You bought a company at a grossly inflated price and within three months you post dividends …this is a lie how did you work out the maths in that.
the observer – This company would have been created from scratch by IDC…its stupidity to pay some foreign guy money…anyway you are too blinded to see you would rather buy foreign sliced bread to brag to your neighbours.
@Tarino
How many companies have you yourself created? What is your educational background? What is your area of specialization? Where do you work and for how long have you been in employment?
Wht’s the fanfare for? There other disclosures necessary if informed citizens are to make sense of this information.
Great
So the 22.61% of the government shares earned K72 million. That means that the 77.39% of the shares owned by the Chinese earned K246 million – why does the article not say anything about that, my dear LT?
Typical pessimist will not appreciate anything they are so artificial especially those economic refugees living in other countries. While in Zambia they could not even construct a pit latrine and now they speak as though they can do anything tangible. If you invest you get what you have invested. We blame the Chinese, they have come from far on a mission and that is make money for themselves and their country. Some diasporians have no plans (CNP). The little money made from doing all sorts of works is spent on “ Kulibonesha ta “ showing off. Very sad.
This is good. There are some of us who truly appreciate such positive reports on the economy and that’s essentially the reason why we’re still on this site after so many years. We still believe that none but Zambians can develop Zambia and uplift the standard of living for all Zambians. We may be miles away from home but we care about our country because it’s the only one we have under the sun.
Ba under5 are extremely upset..they don’t want progress..
Another sign of the economic achievements under pf. Meanwhile utukaIa tu upnd tuletalika.
@No Corruption Zambia writes ” 77.39% of the shares owned by the Chinese earned K246 million – why does the article not say anything about that, my dear LT?” The article talks about the following breakdown in shares: “In August 2020, the IDC acquired 22.61% shares in Marcopolo Tiles while NAPSA and WCFCB acquired 16.39% and 10% respectively.” In short, WCFCB which is trying to facilitate technology transfer has 10% shares. So one wonders where the 77.39% shares came from. These are the kind of falsehoods that UPND supporters are become good at spreading to distort information.
Observer- I have created a number of them but this isn’t about me but IDC and how taxpayers funds are utilised…you can’t invest XX millions in farm and then pay dividends within less than a year unless its Colombian pure cocaine you are growing…where the h ell did you get your investment money…has loan been paid off.
Wake up!!
I wonder when countries like zisc life , and other profit seeking parastatals will post a dividend …..