Remarks By Mr. Mabvuto Chipata, Chief Executive Officer – ZCCM-IH During the Dividend Cheque Handover for Financial Year ended 31st March 2019 To the Ministry of Finance
The Honourable Minister of Finance, Dr. Bwalya Ng’andu, Ministry of Finance Directors and senior staff present, ZCCM-IH senior management and staff, Members of the Press,
I am happy to be here to present the fourth dividend cheque to the Ministry of Finance for the financial year ended 31st March 2019.
In the last Annual General Meeting held on 14th January 2020, ZCCM-IH shareholders approved a total dividend payout of K53 million.
As a Group, we made a profit of K448 million, which was largely driven by an increase of 155% in revenue.
As a Company, we remain focused on continuing to create value and portfolio growth.
In the 2019 financial year, for instance, we increased our stakes in Kariba Minerals and Copperbelt Energy Corporation; and invested in new companies such as Kabundi Resources that is responsible for manganese mining.
Honourable Minister, our core strength lies in the mining sector, as such we will continue to play a strategic role in the growth of this sector and its contribution to the country’s revenue, particularly in other minerals such as gold, cobalt, manganese, and gemstones among others.
Copper remains the main commodity in our investment portfolio, as such commodity diversification is key for us as a company.
We want to reduce our risk exposure depending on copper, as well as drive portfolio growth in order to sustain the delivery of a fair return on investment for all our shareholders.
Honourable Minister, we remain grateful for the support you continue to give to ZCCM-IH through your Ministry over the years.
ZCCM-IH will continue to play a pivotal role in the mining sector for which the ZCCM-IH brand is deeply associated.
Thank you once again for having us here to present the dividend.