ZANACO HANDS OVER HEFTY DIVIDEND CHEQUE
Zanaco Plc, the leading bank in Zambia, has handed over a dividend cheque of over K131.6 million to the Industrial Development Corporation (IDC), which holds a 24.8% stake in the bank. The cheque was presented to Finance Minister Dr. Situmbeko Musokotwane, IDC’s sole shareholder, with IDC Chief Financial Officer Mr. Raphael Chipoma in attendance. This […]
IDC PARTICIPATES AT CHINA-ZAMBIA HIGH-QUALITY DEVELOPMENT FORUM
This week, IDC is part of the over 200 Zambian and Chinese companies participating at the China-Zambia High Quality Development Forum. The Forum, which is aimed at promoting practical cooperation and achieving high-quality development between China and Zambia, runs from May 15-17 at the Mulungushi International Conference Centre.The event has been organized by the Alliance […]
IDC Engages with IMF to Discuss Strategic Reforms in State-Owned Enterprises
On Wednesday 24th April, IDC CEO Mr. Cornwell Muleya held a meeting with the International Monetary Fund (IMF) Mission Chief for Zambia, Mercedes Vera Martin, and the IMF Resident Representative, Eric Lautier to discuss IDC’s current initiatives and strategic plans aimed at overcoming the operational challenges faced by the various State-Owned Enterprises (SOEs) under its […]
ZANACO MAINTAINS TOP POSITION WITH RECORD-BREAKING RESULTS
For the third consecutive year, Zanaco has maintained its position as the top performing bank in Zambia, announcing stellar results for the 2023 financial year that saw it post market-leading Profit After Tax, with shareholders declaring the bank’s highest ever dividend in its 55-year history.Zanaco Interim Board Chairperson Mrs. Regina Mulenga announced after the bank’s […]
INDO ZAMBIA BANK DECLARES K50 MILLION DIVIDEND TO IDC
Indo Zambia Bank Limited (IZB) has declared its largest ever dividend of K50 million to the Industrial Development Corporation (IDC) for the 2023 Financial Year, a 25% increase from last year’s declaration.IZB Board Chairman Dr Michael Gondwe announced earlier today following the banks Annual General Meeting that the bank’s shareholders had recommended the total sum […]
INTERNATIONAL WOMENS DAY
Our ladies and two “brave” men joined in the march parade in Lusaka to commemorate Women’s Day. Today we shine a spotlight on women’s achievements and encourage equality. However, as we strive for gender equality and empowerment let’s ensure we don’t leave the male child behind.
IDC CEO AND TEAM DATE ABU DHABI
Our CEO Mr Cornwell Muleya and his team are on a fact finding and benchmarking mission in Abu Dhabi, United Arab Emirates.The objective of this mission is to build partnerships with UAE institutions that the IDC would like to benchmark its operations with institutions it aspires to emulate. We are in the process of a […]
IDC COMMITTED TO SUPPORT ZITFT OPERATIONS
ndustrial Development Corporation (IDC) Chief Executive Officer Mr. Cornwell Muleya says IDC is committed to support the operations of the Zambia International Trade Fair Trust (ZITFT). Speaking during a courtesy call paid on him by ZITFT Chairperson Dr. Elizabeth Nkumbula, Mr. Muleya said IDC is happy with the commitment exhibited by the Board of Trustees […]
COMMERCIAL AVOCADO PRODUCTION GETS A MAJOR PUSH
The Lusaka Avocado Multipurpose Cooperative Society (LAMCS) has met with the Industrial Development Corporation (IDC) to expand the commercial cultivation of Avocados in Zambia targeting export markets.LAMCS was represented by Board Chairperson Engineer Bernard Chiwala, Vice Board chairperson Engineer Patrick Mutimushi and Board Secretary Mr John Chowa, who met with IDC CEO Mr Cornwell Muleya […]
IDC UNVEILS ZAMBEZI CASHEW COMPANY LIMITED BOARD OF DIRECTORS
In continued Governance Reform efforts aimed at improving subsidiary operations, Industrial Development Corporation (IDC) CEO Mr Cornwell Muleya has unveiled the Board of Directors for Zambezi Cashew Company Limited.Zambezi Cashew Company is 100% owned by IDC and is located in Mongu district, Western Province.Mr. Muleya instructed the newly appointed Board to guide the company’s management […]