The Zambian government has urged State-Owned Enterprises (SOEs) to uphold good corporate governance and sound financial management to ensure public investments generate sustainable returns.
Ministry of Finance and National Planning Permanent Secretary for Economic Management and Investments, Mulele Mulele, said prudent management of public investments was critical to delivering tangible financial benefits to the country.
Mulele said this on Monday when he received a dividend cheque of K31.18 million from ZCCM Investments Holdings Plc (ZCCM-IH) on behalf of the government.
The payment forms part of the final dividend of K1.13 per share, amounting to approximately K183 million, approved at the company’s 22nd Annual General Meeting held on September 11, 2026, at the ZCCM-IH Office Park in Lusaka.
Mulele said the payment demonstrated the importance of effective management of public investments, identifying ZCCM-IH, the National Pension Scheme Authority (NAPSA) and Mulungushi International Conference Centre as important vehicles for wealth creation.
“The dividend payment is a positive demonstration of the importance of prudent investment management, sound corporate governance and accountability in ensuring that Government investments generate tangible financial returns for the benefit of the Zambian people,” he said.
He commended them for their efforts to strengthen financial performance, enhance shareholder value and contribute to national economic development.
Mulele also praised the company’s performance during the 2025 financial year, saying its ability to sustain dividend payments reflected strategic leadership and effective management.
However, he said dividends alone were not sufficient to measure performance, adding that the government expected ZCCM-IH to focus on growth, quality and profitability across its investment portfolio.
“ZCCM-IH remains an important investment vehicle in Zambia’s mining and energy sectors, with significant potential to contribute to economic growth, employment creation, foreign exchange generation and domestic revenue mobilisation,” Mulele said.
He said the company should continue pursuing commercially viable investment opportunities, strengthening its portfolio, promoting value addition and increasing domestic participation in the mining value chain.
Mulele added that investments should support industries that create jobs and retain economic value within Zambia.
He described the K31.18 million dividend as a welcome contribution to government revenue and urged other state-owned enterprises, including NAPSA and Mulungushi International Conference Centre, to emulate prudent and commercially sustainable management.
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ZCCM-IH Board Chairperson Phesto Musonda said the company had funded the repayment of US$150 million in legacy debt in April 2026 and the final dividend approved for shareholders using cash generated from its investments, rather than borrowing or selling assets.
“The performance was underpinned by Kansanshi Mining Plc, which completed and commissioned the S3 Expansion in August 2025 and achieved its highest annual copper production since 2021 at 170,929 tonnes, supporting record royalty income for ZCCM-IH,” Musonda said.
He said ZCCM-IH had fully repaid the outstanding US$150 million Glencore loan in April 2026, which was linked to the acquisition of Mopani Copper Mines.
Musonda said the repayment eliminated the company’s remaining legacy debt, reduced balance-sheet risks and created room for further growth.
“We intend to be an active mining and energy investor, holding our stakes on commercial terms as an engaged and responsible shareholder. Where the royalty model works, as it has at Kansanshi, we will look to extend it,” he said.
In a separate event, Mulungushi International Conference Centre handed over K29.82 million in dividends to the IDC, pledging to contribute to the government’s Grow Zambia Agenda and its target of attracting five million tourist arrivals.
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