MICCL DECLARES K29.8 MILLION DIVIDEND AS PROFIT SOARS TO K146.9 MILLION.

By Alain kabinda 

LUSAKA — Mulungushi International Conference Centre Limited (MICCL) has declared a K29.8 million dividend to its shareholders after recording a significant increase in profitability for the financial year ended December 31, 2025.

The dividend, equivalent to 35 percent of the company’s K146.9 million net profit after tax, will be shared with its shareholders, the Industrial Development Corporation (IDC) and the Ministry of Finance and National Planning.

MICCL Board Vice-Chairperson Ms. Leah Kooma said the company’s revenue increased by 19 percent to K152.1 million in 2025, compared with K128 million recorded in 2024, exceeding the approved budget by seven percent.

                                                                   Ms. Leah Kooma

She said net profit after tax more than tripled from K43.9 million in the previous financial year to K146.9 million, reflecting improved operational performance and financial management.

Ms Kooma said the company’s total assets increased to K1.5 billion, while cash and cash equivalents rose to K85.1 million, strengthening its financial position and liquidity.

She attributed the performance to increased conferencing activity, growth in food and beverage services, improved debt recovery, prudent financial management and continued benefits from the ultra-modern Kenneth Kaunda Wing.

During the year, MICCL hosted several high-profile national and international events, reinforcing its position in Zambia’s meetings, incentives, conferences and exhibitions (MICE) industry.

Ms Kooma said the company had also recorded an 88.99 percent score under the 2025 Performance Management Contract, reflecting performance across financial, governance and operational indicators.

She said MICCL was pursuing strategic investments aimed at expanding its revenue base and strengthening long-term sustainability.

These include plans for hotel development, expansion of exhibition facilities, refurbishment of existing infrastructure and investment in sustainable waste management solutions.

Meanwhile, Industrial Development Corporation Chief Financial Officer Mr. Raphael Chipoma commended the MICCL Board for its stewardship and strategic guidance to management, which he said had contributed to the company’s improved performance.

Mr Chipoma said the dividend demonstrated stronger operating performance and MICCL’s commitment to generating sustainable returns for its shareholders.

He said IDC remained committed to supporting its portfolio companies to achieve sustainable growth, improve competitiveness and create long-term shareholder value.

Mr Chipoma noted that MICCL played an important economic role beyond providing conference and exhibition facilities, as it supported tourism, business development, employment creation and international engagement.

He urged the board and management to continue investing in innovation, technology and service improvements to respond to changing customer expectations and increasing competition in the hospitality and conferencing industry.

Mr Chipoma further challenged MICCL to support the Government’s Grow Zambia agenda and contribute towards the national target of attracting five million tourists.

He said IDC was confident that MICCL had the potential to expand its contribution to the economy while delivering stronger financial returns.

The K29.8 million dividend represents a balance between rewarding shareholders and maintaining resources for future investment, as MICCL seeks to strengthen its competitiveness in Zambia’s growing tourism, hospitality and business events sectors.