Marcopolo Tiles Company Limited has today declared its first dividend worth K72 million to its shareholders.
Speaking when he received the dividend cheque on behalf of other shareholders, IDC Group Chief Executive Officer Mr. Mateyo Kaluba hailed Marcopolo Tiles for delivering a strong performance in the financial year 2020, despite difficult times arising from the COVID-19 pandemic.
Mr. Kaluba said he is happy that the company never allowed the COVID -19 pandemic nor the negativity that accompanied their investment to detract them from the important job of growing the company.
The Group CEO disclosed that the Corporation is proud to be part of this strategic investment that has created 700 direct jobs, created a new value chain in the manufacturing sector and repositioned Zambia from an importer of tiles to a regional exporter.
Speaking at the same function, Marcopolo Tiles Acting Chief Executive Officer Mr. Roy Mwamba attributed the successes recorded, to the phased approach that his company has taken to assert itself as a strategic investor in Zambia.
Mr. Mwamba explained that Marcopolo Tiles is currently operating at phase three. Phase four will commence in the second week of August 2021 with the production of sanitary ware which will be the first in Zambia and the region.
He further disclosed that his company will start the production of high dimension tiles which are currently only manufactured in Eastern Asia and Europe.
In August 2020, the IDC acquired 22.61% shares in Marcopolo Tiles while NAPSA and WCFCB acquired 16.39% and 10% respectively.