Business

President Lungu directs IDC to list all companies on LuSE

President Edgar Lungu has directed the Industrial Development Corporation (IDC) to ensure that all companies are listed on the Lusaka stock exchange.

IDC Chief Executive Officer Mateyo Kaluba says it is important that companies that are already listed on the stock exchange are operating efficiently and profitably.

Mr. Kaluba was speaking when the Zambia Consolidated Copper Mine Investment Holdings (ZCCM-IH) presented a dividend of over 81 million Kwacha to the IDC.

And ZCCM-IH Chief Executive Officer Pius Kasolo said his firm has paid 35 percent dividend to the IDC following the upward revision of dividends from 20 percent.

And Government says it will not hesitate to close down loss-making parastatals.

Minister of Finance Margaret Mwanakatwe has since called on state owned enterprises to improve their operations and pay dividends to government.

Speaking when she received a cheque of 43.6 million Kwacha from Zambia Consolidated Copper Mines Investment Holdings -ZCCM-IH to its major shareholders the Ministry of Finance and Nations Pensions Scheme Authority -NAPSA- , Mrs Mwanakatwe said the dividend will help government meet some of its financial obligations.

Earlier ZCCM-IH Chief Executive Officer Pius Kasolo said 20.3 million Kwacha has been paid to NAPSA representing 15 percent shareholding while 23.3 million Kwacha has been availed to the Ministry of finance.

Dr Kasolo said ZCCM-IH will continue paying dividends to government as a way of contributing to the growth of the economy.

And NAPSA board chairperson Marian Munyinda said the dividend will help the authority to grow its investment portfolio which now stands at 25 billion Kwacha.

The Independent Observer

John Sakala is a Journalist yearning for independent journalism

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