ZCCM Investment Holding records a profit of over 4.8 billion Kwacha in 2023.

By Daily News Reporter

This represents a 14 percent increase recorded from 2022 which was at 4.26 billion Kwacha.

ZCCM IH Chief Executive Officer Ndoba Vibetti stated that the company's total assets increased by 20 percent from 48 billion Kwacha to 58.4 billion kwacha driven by the increased value of investments in associates and other current assets.

This marks the 9th consecutive year that ZCCM-IH has paid a dividend to the IDC. Last year, a record dividend of K436 million was paid for the financial year 2021 and 2022. Since 2015, ZCCM-IH has paid approximately K990 million to the IDC.

Under the Zambia Gold Company has commenced remedial works at the Kasenseli gold mine in Mwinilunga, with operations set to begin in the third quarter of this year; Maamba Energy Limited has secured financing for the construction of an additional 300 MW power plant within two years, along with the lithium prospecting licenses it has obtained.

In 2023, ZCCM-IH's profit increased by 14% to K4.84 billion; total assets up by 20% to K58.46 billion.

ZCCM-IH's share price surged by 52.4% on the Lusaka Securities Exchange, from K42 to K64 per share, boosting market capitalization from K6.3 billion to K9.6 billion.

Meanwhile IDC Chief Executive Officer CORNWELL MULEYA praised ZCCM-IH for recording a huge profit which the ZCCM-IH has performed through investment confidence.

And following the ZCCM-IH’s commitment it has also paid out the dividend cheque worth K36 million to NAPSA,

And NAPSA Director General, Mr. Muyangwa Muyangwa, stated that ZCCM-IH has maintained its dividend Consistency Last year it recorded dividend of K108.4million was paid for the financial year 2021 and 2022. Since 2015, ZCCM-IH has paid approximately K263 million to NAPSA.

With a portfolio of over 20 companies, ZCCM-IH's strategic focus is to grow the mining and energy investments and revamp ailing entities to profitability. ZCCM-IH will continue to play its role as a company discharged with the mandate to represent and safeguard Government’s interest in all the big existing mines in Zambia.

So far ZCCM-IH's share price on the LuSE appreciated by 52.4%, from K42 to K64 per share. This share price increase translates into increased value of NAPSA’s stake by 52.4%, a positive thing for NAPSA and the Zambian pensioners.