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Zamtel and Zambia Railways sign an Integrated Communication Solutions MOU
Zamtel and Zambia Railways (members of the IDC Group of Companies), have today signed a Memorandum of Understanding (MOU) where Zamtel will provide Zambia Railways with an Integrated Communication Solution, which includes voice and data. Speaking at the signing ceremony, Zamtel CEO Mr. Sydney Mupeta said the digital solution will...
IDC Restructures Times Printpak
Press Release FOR IMMEDIATE RELEASE IDC Restructures Times Printpak Lusaka, 28thDecember 2019 – The Industrial Development Corporation (IDC) has dissolved the Times Printpak Board of Directors and made changes at management level as it commences fundamental restructuring of the company. The IDC has directed the Zambia Daily Mail Limited Board...
Senior Chief Kanongesha Pledges to Support IDC’s Fruit Processing Pro
Senior Chief Kanongesha of Mwinilunga says he is happy that the IDC was implementing a project that would change the face of the district through the creation of jobs in the area and the entire North-Western Province. He said the Kanongesha Royal Establishment fully supports the project and was committed...
IDC Signs Shareholder Agreement with INDO Zambia Bank
IDC Group CEO Mr Mateyo Kaluba has expressed confidence that the Shareholder’s agreement signed today between the IDC, Bank of Baroda, Bank of India and Central Bank of India reaffirms a long standing relationship between the four shareholders. He said the agreement clarifies the roles and expectations of the respective...
IDC COMMENDS ZAMTEL FOR CROSSING THREE MILLION SUBSCRIBER BASE.
FOR IMMEDIATE RELEASE Lusaka, 29th July 2019 – Zamtel’s shareholder, the Industrial Development Corporation (IDC) has commended the national network provider for crossing the three million subscriber base. IDC Group CEO, Mr Mateyo Kaluba said the record increase in mobile subscribers to the Zamtel network over the past two years...
Indeni declares K31 million dividend to IDC
INDENI Petroleum Refinery Company has declared K31million dividend to its shareholder the Industrial Development Corporation (IDC). This is the fifth dividend payment Indeni has made since 2015 following implementation of strategic reforms guided by the IDC that has resulted in the Refinery to becoming the overall best performing enterprise within...
Scaling Solar
We did it! “Diversifying Zambia’s Energy Mix” FACT: First Scaling Solar project (a World Bank Group program) to be commissioned in Africa. 54 MW - first large - scale solar power plant in Zambia to be commissioned. lowest tariff in Sub Saharan Africa at 6 cents per kilowatt hour 30, 000...
Zambia Airways Board Appoints CEO
Lusaka, 7thFebruary 2019 - The Board of Directors of Zambia Airways (2014) Limited held their inaugural Board meeting today, 7thFebruary 2019, where decisions relating to the commencement of the Airline were made including the appointment of Mr. Bruk Endeshaw Abebe, as the Chief Executive Officer of Zambia Airways. Mr. Abebe...
IDC Appoints Zambia Airways Board
IDC APPOINTS ZAMBIA AIRWAYS BOARD MEMBERS Lusaka, 28th December 2018 – The Industrial Development Corporation (IDC) Group Chief Executive Officer, Mr. Mateyo Kaluba, has today announced the appointment of members of the Board of Directors of Zambia Airways. The appointment of the board is with immediate effect. Those appointed include:...
Joint statement at the signing of the Shareholders Agreement between the In
We, the Group Chief Executive Officer of the Industrial Development Corporation (IDC), Mr. Mateyo C. Kaluba, and the Group Chief Executive Officer of Ethiopian Airlines (ET), Mr. Tewolde Gebremariam, held a signing ceremony on 19th August 2018 in Lusaka to mark our agreement as Shareholders of Zambia Airways. As strategic equity...
Indo-Zambia Bank declares K24 million dividend to shareholder – IDC
Indo-Zambia Bank, has declared K24 million dividend to its shareholder the IDC for the financial year ended 31st December 2018. Speaking during a media brief before the cheque handover, Indo- Zambia Bank Chairperson, Mrs. Orlean Moyo disclosed, the bank recorded 37.9% growth in operating profit from K182m (2017) to K251m...
IDC Board has approved an investment of $850 million into rail infrastructu
The Industrial Development Corporation (IDC) Board has approved an investment of $850 million into rail infrastructure and rolling stock for Zambia Railways Limited (ZRL). IDC Group Chief Executive Officer Mr Mateyo Kaluba, said the investment is important because it is a wholesome package which attends to the entire capacity constraints...
President Lungu urges IDC to accelerate solar power projects
President Edgar Lungu has directed the Industrial Development Corporation (IDC) to accelerate all other solar projects which are in the pipeline. Speaking on Monday when he officially commissioned the 54 megawatts solar photovoltaic plant for the Bangweulu Power Company Limited in the Lusaka South Multi Facility Economic Zone, President Lungu...
First ‘Scaling Solar’ Auctions in Zambia Yield Record Low Tariffs amid Elec
The 6.02¢/kWh tariff makes the projects the lowest-cost solar power in sub-Saharan Africa to date Lusaka – Zambia’s Industrial Development Corporation (IDC) opened bids on May 27 from seven leading renewable energy developers seeking to build large-scale solar power plants in the southern African country where power shortages are acute. The bid...
Public Disclosure Meeting for the Draft Environmental and Social Impact Sta
The Industrial Development Company Zambia Limited (IDC) is an investments holding company wholly owned by the Government of Zambia. The IDC is mandated to play a catalytic role in deepening and supporting Zambia’s industrialisation capacity to promote job creation and domestic wealth formation across key economic sectors. In view of...