Esther Malasha, Lusaka, – 26 October 2023
Zambia National Pension Scheme Authority (NAPSA) received a combined dividend cheque from ZCCM-IH of approximately K190m.ZCCM-IH Board chairperson issued a cheque at the NAPSA head offices in Lusaka, to NAPSA. The Chairperson of ZCCM-IH, Mr. Kakenenwa Muyangwa, stated that the amount comprised dividends for the financial years ending December 31st, 2021 and 2022. This marks the eighth consecutive year that ZCCM-IH has provided returns to NAPSA and other companies on their investments. “We are focused on generating consistent and predictable income through investments, while ensuring the maximisation of value for our shareholders and the Zambian people. Three years into the 2020-to-2026 strategic plan, ZCCM-IH continues to work towards maximization of shareholder value and returns.”
Mr. Muyangwa of ZCCM-IH went on to explain that the key to this success has been their value chain drivers for a strategic period. This includes developing alternative revenue streams that are more predictable and consistent, as well as commodity diversification to include critical minerals such as cobalt, manganese, lithium, nickel, and precious minerals like gold. He was quick to add that part of their strategy has been supporting subsidiary companies to improve productivity and profitability, as well as divesting from non-core mining assets and ensuring companies’ operations and financial performance.
NAPSA Director General Muyangwa Muyangwa (who happens to hold the same name as the ZCCM-IH chair, but relationship unestablished) opened his speech by stating, “We are truly delighted to receive the dividend cheque on behalf of the members of NAPSA, who are the true owners of the money. It is every investor’s objective to make a return on their investments. I am delighted to be part of this event as we receive yet another cheque of 109 million kwacha from ZCCM-IH.” he emphasised NAPSA’s critical mandate of providing income and security to its members throughout their lives, especially after retirement and during other contingencies.
NAPSA stands as a key player in the Zambian economy, particularly in the financial and capital markets. To continue fulfilling this role, they have a fiduciary responsibility to diligently safeguard and grow their members’ funds through sound investment. Mr. Muyangwa explained that one of their significant investments has been their stakes in ZCCM-IH, in which they hold a 15 percent shareholding.”I am pleased to inform you that this investment has continued to yield returns for the members, thereby aligning perfectly with our goals of growing our members’ funds”.
ZCCM-IH believes it is ideally positioned to leverage the country’s mineral wealth for the benefit of the Zambian people. Mr. Muyangwa expressed his determination to sustain the company’s positioning over for the long term. “This will remain at the heart of everything we do as a company, and this includes what we are witnessing today.”