Non-Performing State Owned Enterprises Warned

By Balewa Zyuulu

 

Finance Minister Bwalya Ng’andu says all state-owned enterprises that fail to perform will face sanctions by government.

Dr Ng’andu says government investments in state-owned enterprises are aimed at getting a reasonable return to allow the country raise finances to meet other developmental objectives but only a few companies have been fulfilling their financial obligations to government.

The Minister was speaking this morning when he received a dividend Cheque of K9.1 million from the Zambia Consolidated

Copper Mines Investments Holdings-ZCCM-IH for the financial year ended 31st march 2019.

At the same event, ZCCM-IH- Chief Executive Officer Mabvuto Chipata said in the last general meeting held this year, the firm approved a total dividend payout of K53 million from the total profit of K448 million.

Mr. Chipata said in the 2019 financial year, the company increased stakes in Kariba Minerals and Copperbelt Energy Corporation and invested in new companies such as Kabundi Resources.

PHOENIX FM NEWS

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