Mulungushi International Conference Centre Limited (MICCL) has delivered its third successive dividend of K29.8 million to the Industrial Development Corporation (IDC) and the Ministry of Finance and National Planning, following a strong 2025 financial year.
This year’s payment is almost double that of the previous year, which stood at K15.3 million.
Board Chairperson Ms Leah Kooma described 2025 as an exceptional year. She said the company’s revenue rose 19% to K152 million from K128 million in 2024, and was 7% above budget. Net profit after tax reached K146.9 million, more than triple the K43.9 million recorded the previous year. Total assets grew to K1.5 billion, while cash and cash equivalents rose to K85.1 million.
Ms Kooma attributed the results to higher conferencing activity, growth in food and beverage services, improved debt recovery, prudent financial management, and the performance of the new Kenneth Kaunda Wing. She added that the company plans to develop a hotel, expand exhibition facilities, refurbish infrastructure and invest in waste management.
Speaking for IDC Chief Executive Officer Mr Cornwell Muleya, Chief Finance Officer Mr Raphael Chipoma praised MICC for the solid performance. He noted that MICC will be central to Government's target of five million tourist arrivals under the Grow Zambia Agenda and urged the Board and management to stay focused. Mr Chipoma said dividends received by IDC flow into further investments for the Zambian people, under Ministry of Finance oversight.
Assistant Director for Government Investments Mr Rodney Machila said Government expects more state-owned enterprises to move into profit and declare dividends. Mr Machila said the Ministry is committed to reforms that address governance and recapitalisation bottlenecks, and encouraged MICC to align its plans with the Grow Zambia Agenda and sustain its momentum.
