The Industrial Development Corporation (IDC) has inaugurated the new Board of Directors for Mpulungu Harbour Corporation Limited, a move aimed at strengthening the company’s Corporate Governance, business strategies, performance in the shipping industry and increasing its profitability.
Speaking during the inauguration ceremony held at IDC in Lusaka this week, IDC CEO Mr. Cornwell Muleya said the decision to bring in a new Board at Mpulungu harbour is 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 explained that the targets set for Mpulungu Harbour are high and top of the agenda is for the new Board to play a pivotal role in making the corporation into a 4th generation port and establishing a shipping business line.
He disclosed that initial feasibility studies were done in 2016 and therefore, he challenged the new Board of directors to take lead in driving these two important projects as well as identifying alternative financing options to realise this development.
Mr. Muleya further challenged the new Board to apply good governance principles and ensure prudent, timely and cost-effective execution of their duties as they provide oversight over the company’s strategic objectives.
The new Board of Directors for Mpulungu Harbour is comprised of Mr. Fellystons Nchimunya, as Chairperson, and he will be supported by Mrs. Precious Musonda, Mr. Mark Pearson and Mr. Joseph Mbinji.
