ZCCM-IH PLEDGES SUPPORT FOR 3 MILLION TONNES COPPER TARGET
By Alain kabinda
ZCCM Investments Holdings Plc (ZCCM-IH) has pledged its commitment to supporting the Government's Grow Zambia Agenda, particularly the target of producing three million metric tonnes of copper annually by 2031 and generating 10,000 megawatts of electricity by 2030.
ZCCM-IH Chief Executive Officer Kakenenwa Muyangwa said the company was and is strategically positioned to contribute to the country's economic transformation through its investments in the mining and energy sectors.
Mr Muyangwa said ZCCM-IH held significant minority and, in some cases, majority stakes in some of Zambia's largest mining and energy companies, with investments spanning copper, cobalt, coal and power.
He said the company recognised its investments as a critical component of Zambia's economic growth and had embraced the Government's development targets because of the opportunities they presented for the country.
Mr Muyangwa said ZCCM-IH was also going beyond the targets outlined in the Grow Zambia Agenda by actively participating in the country's industrialisation and value-addition drive.
He said industrialisation and value addition were important in promoting sustainable development and creating employment opportunities, particularly for young people.
Mr Muyangwa further said income generated from the company's investments had enabled ZCCM-IH to consistently pay dividends to its shareholders, including the Industrial Development Corporation (IDC), Ministry of Finance and National Pension Scheme Authority (NAPSA).
He said the company had consistently paid dividends for the past 12 years and had recently made another payment to its shareholders.
Mr Muyangwa welcomed Ms Tambatamba to ZCCM-IH and reaffirmed the company's readiness to work with Government in advancing Zambia's development agenda.
Meanwhile, Ministry of Mines and Minerals Development Minister Hon. Brenda M. Tambatamba has challenged ZCCM Investments Holdings (ZCCM-IH) to take ownership of its role in driving the Government’s Grow Zambia Agenda and contribute meaningfully to the target of producing three million metric tonnes of copper annually by 2031.
Ms. Tambatamba said ZCCM-IH had demonstrated resilience and remained an important player in Zambia’s mining industry despite changes in the sector over the years.
She said the Grow Zambia Agenda under President Hakainde Hichilema and the New Dawn Government had provided citizens with a clearer understanding of the country’s development aspirations by translating national targets into tangible outcomes that directly affect their daily lives.
Ms. Tambatamba said every ZCCM-IH employee should understand how their individual responsibilities contribute to achieving the national agenda, both at the workplace and in their communities.
She likened the implementation of the Grow Zambia Agenda to a football team, saying every individual had a specific position to play and must understand how their role connected with those of others to deliver results.
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