Wednesday, June 19, 2024

IDC CEO Urges State-Owned Companies to Boost Efficiency and Profitability

Share

The Industrial Development Corporation (IDC) is calling on state-owned enterprises to prioritize efficiency, reliability, and profitability to become pillars of national pride. During a visit to the ZAFFICO Pole Treatment Plant in Kalulushi on Saturday, IDC Chief Executive Officer Cornwell Muleya emphasized the need for government-owned firms to actively invest in initiatives that enhance their financial performance.

With over 30 state-owned companies falling under the IDC portfolio, Muleya stressed the importance of these entities becoming flagbearers for Zambia’s economic development. He applauded the operations of ZAFFICO, highlighting the company’s significant contribution to the Zambian economy since its establishment in 1962.

“I am very impressed with the operations of ZAFFICO. Having learned about its long history since 1962, they have been around, producing material for the economy of Zambia since that time,” said Mr. Muleya. “We want all state-owned enterprises to be the pride of our country.”

ZAFFICO Managing Director Mundia Mundia echoed the commitment to value addition in timber production, revealing an investment of over $3 million to establish a kiln aimed at expediting the drying process for poles.

“We have invested in excess of $3 million to set up the kiln that would help us dry our poles as quickly as possible,” Mr. Mundia explained.

8 COMMENTS

  1. Even poles have standards
    ours are smaller in dia and very poorly treated with creoste
    Zesco also buys from zafico the small qtys they have which they use on internal lines so they need to up their game

    1
    2
    • I have been to this place and the poles are of good standard. Please don’t always find excuses for failure. Don’t think PF didn’t have people with good education but blindness to what was going around made them fail.

  2. UPND government is a tribalist party. Mapani, a relative of HH’s wife replaced by a Muleya, HH’s Anglo American days friend’s son. Mapani at Zesco, a Lozi at Zaffico.

  3. I am mourning my brother kunda chani. I am warning anyone who provokes me that I am in a bad mood. Don’t try me. Rip brother . We will beat hh at the polls in your memory

    • @KZ – Condolences over this. That said, there is no benefit in being in a bad mood. Be happy and celebrate your brother’s life instead.

  4. What is Freddie M’membe’s opinion on this article? Zambia is still a socialist country with state-owned enterprises. What is his basis for his assertion that the UPND Alliance is implementing or pursuing “capitalist” policies?

  5. How did they go ahead and employ the thief as CEO? The evidence was overwhelming against this fella who got fired in Uganda as Commercial Manager at Uganda Airline for stealing money money. Edgar Lungu intervened and the man was released off the hook or else he was jail bound.
    The tribal president couldn’t settle for any other person of a different tribe. KK’s prophecy come to pass!

Comments are closed.

Read more

Local News

Discover more from Lusaka Times-Zambia's Leading Online News Site - LusakaTimes.com

Subscribe now to keep reading and get access to the full archive.

Continue reading