The Industrial Development Corporation (IDC) has commended Zamcargo for declaring its first-ever dividend of K4.2 million, marking a major milestone in the company’s growth and performance.
IDC Chief Executive Officer, Cornwell Muleya, applauded Zamcargo’s board and management for their strong performance over the past two years, which led to this historic payout.
“It’s a great pleasure to receive this return on the investment that Zambia has made through IDC, on behalf of the people of Zambia,” Muleya said while accepting the dividend cheque.
“I encourage you to continue along the path you’ve set. Your strategy is clearly yielding results.”
Muleya also expressed confidence in the company’s long-term direction. “We are very pleased with the progress made in meeting your financial targets.
The strategy you’ve adopted demonstrates a clear commitment to your mission and to creating value for the nation.”
Presenting the cheque, Zamcargo Board Vice Chairperson Muyunda Munyinda emphasized the board’s efforts since its formation two years ago.
These included strengthening governance structures, enhancing management capacity, improving internal controls, and pursuing new business opportunities.
“We have stayed true to our strategy, and we are now seeing the results,” said Munyinda.
Established in 2001 and headquartered in Dar-es-Salaam, Tanzania, Zamcargo was created to streamline Zambia’s import and export operations through reduced costs and improved efficiency at the port.
One of its key goals was to reduce delays at the Dar-es-Salaam port, helping to conserve Zambia’s foreign currency reserves.
Zamcargo is now expanding its regional presence by setting up a second depot in Tanzania and entering new markets such as Namibia.
These initiatives are expected to significantly enhance its cargo handling capacity and drive future revenue growth.
