Zambia Airports Corporation declares a K5 million dividend to the Government

Zambia Airports Corporation declares a K5 million dividend to the Government

The Zambia Airports Corporation Limited (ZACL) has declared K5 million dividend to the Government through the ministry of finance as a shareholder for the period ending December 2018.

And speaking when he received the dividend cheque from the ZACL Vice Board Chairperson Prisca Chikwashi, Finance Minister Dr. Bwalya Ng’andu said the dividend was a positive sign that Government’s investments are being put to good use.

“We note that your corporation is one of a few state-owned entities who are not only conducting their business well but is making a profit and declaring dividends to the shareholder.” Dr. Ng’andu stated.

Dr. Ng’andu further commended the ZACL Board and Management for their hard work and consistency in ensuring that there are proper management and utilization of resources.

He added that it is for this reason that government has is focused on constructing and upgrading airport infrastructure to provide modern facilities that will enable the country to handle higher volumes of traffic and give airlines better service and passengers an improved experience.

He said Government remained confident that enhancing the aviation industry will not only yield good results but will attract tourists as well as investors thus improving the country’s socio-economic opportunities which will ultimately grow the economy.

He has since called on all state-owned entities to work together with the government to increase the nation’s Gross Domestic Product (GDP).

And in a speech read on his behalf by Ms. Chikwashi, ZACL Board Chairperson Mr. Milingo Lungu said this was the third time in four years that the corporation is presenting a Dividend to government.

He stated that in the period under review, great strides were made in the corporation’s quest to execute its five-year strategic plan from 2017-2021 effectively and to the fullest.

He announced that the corporation made a profit after tax of Eighty Million Four Hundred and Ten Thousand Five Hundred and Thirty-Eight Kwacha and paid taxes to Government in the amount of Three Million Two Thousand and Seventeen, Nine Hundred and Thirty Kwacha.

“From a safety perspective, you may also be interested to know that during the year under review, our airport in Livingstone, Harry Mwaanga Nkumbula International Airport was bestowed the ACL Africa Safety Award for Best Airport in Africa.” He added.

( Source: Lusaka Times)