The Industrial Development Corporation (IDC) has inaugurated the new Board of Directors for Mulungushi Village Complex Limited, a move aimed at strengthening the company’s positioning in the hospitality industry and increasing its profitability.
Speaking during the inauguration ceremony held at Radisson Blu Hotel in Lusaka, IDC CEO Mr Cornwell Muleya said the decision to bring in new strong Boards within the group and Mulungushi Village was part of IDC’s broader strategy that will guide companies in implementing operational reforms that will lead to improved financial performance, benefits to the shareholders and the people of Zambia.
Mr. Muleya disclosed that Mulungushi Village has been one of the most consistent profitable companies under the IDC with a history of declaring dividends much to the delight of the shareholders.
He however challenged the new Board of Directors to exceed the current expectations and ensure that they apply good governance principles and employ cost-effective measures as they provide oversight over the company’s strategic objectives.
And the newly appointed Board Chairperson, Mr. Fabian Mayondi said the new Board of Directors and himself are ready to champion the redevelopment agenda of Mulungushi Village in line with the IDC policies and government pronouncements of partnerships that will benefit both the private and public sector.
Mr. Mayondi said his team is up to the task and will ensure that that they uphold the legacy of ensuring that Mulungushi Village remains profitable and dividend declaring.