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IDC COMMENDS ZAMBIA AIRWAYS FOR ANNOUNCING LAUNCH DATE
Lusaka, 9th August 2021 – The Industrial Development Corporation (IDC) has commended the Zambia Airways Board for announcing 30th September 2021 as the date for commercial operationalization of the National Carrier.IDC Group CEO, Mr. Mateyo Kaluba, said the operationalization of the National carrier will play a catalytic role in reviving...
IDC DONATES PPE’s TO SURGICAL SOCIETY OF ZAMBIA
The Industrial Development Corporation (IDC) has commended frontline health workers for repeatedly making sacrifices by working around the clock to contain the COVID-19 pandemic. Speaking during a Ministry of Health COVID-19 press briefing, IDC Chief Corporate Services Officer, Mrs Pamela Musepa said Frontline staff and other medical personnel around the...
Call for Expression of Interest
Call for Expression of Interest The International Council of Swedish Industry (NIR) calls for Expressions of Interest from consultancies for a capacity development support programme for Zambia Railways Limited during project preparation and implementation of the Chingola to Livingstone Rehabilitation Project for the Sustainability Impact Accelerator. Brief Description: The objective...
IDC INJECTS K684 MILLION INTO NCZ TO BOOST ITS PERFORMANCE
IDC INJECTS K684 MILLION INTO NCZ TO BOOST ITS PERFORMANCE The Industrial Development Corporation (IDC) has given its subsidiary Nitrogen Chemicals of Zambia (NCZ) working capital of K684 million to help the company boost its production capacity. IDC Group CEO Mr Mateyo Kaluba said of the total amount, K638 million...
Mpulungu Harbour Corporation Limited Declares K2.4million Dividend to Share
PRESS RELEASE Mpulungu Harbour Corporation Limited Declares K2.4million Dividend to Shareholder - IDC Lusaka, 22nd June 2021 – The Industrial Development Corporation has commended Mpulungu Harbour Corporation Limited (MHCL) for declaring its first dividend of K2.4 million to its shareholder the IDC. “We at the IDC are very proud of...
Marcopolo Tiles Company Ltd Declares K72 Million Dividend to Shareholders
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...
Indo Zambia Bank pays K30 million Dividend to IDC
IDC GROUP CEO TOASTS INDO-ZAMBIA BANK 2020 SUCCESS STORY Industrial Development Corporation (IDC) Group Chief Executive Officer Mr. Mateyo Kaluba has commended Indo Zambia Bank (IZB) for the positive performance the Bank achieved in the financial year 2020 despite difficult times arising from the COVID-19 pandemic. Mr. Kaluba said the...
MARCOPOLO TILES HANDS OVER POLICE POST AND VEHICLES
Marcopolo Tiles Company has handed over a newly constructed Police Post and three Toyota Land Cruiser vehicles all valued at K3 million to the Zambia Police Service. The Police Post will help maintain law and order in the surrounding Malcom Compound in Lusaka West, which has had no police services...
IDC COMMENDS MARCOPOLO TILES COMPANY LTD FOR COMPLETING $15MILLION EXPANSIO
The Industrial Development Corporation (IDC) has commended Marcopolo Tiles Company Limited (MTCL) on the completion of Phase IV of the Company’s’ expansion project, at a cost of $15million, which will make it the first Zambian manufacturer of sanitary ware. “We at the IDC are proud to be associated with the...
PARASTATAL PERFORMANCE BETTER UNDER IDC, SAYS HON DAKA
Chairperson of the Parliamentary Committee on Parastatal Bodies, Hon Peter Daka, has reiterated the need for companies in the Industrial Development Corporation (IDC) to continue the transformation journey towards sustainable profitability. Hon Daka, who is also Msanzala Constituency Member of Parliament, said there was marked improvement in the performance of...
“CREATE BUSINESS OPPORTUNITIES FOR EACH OTHER,” FINANCE MINISTER IMPLORES I
Finance Minister Dr Bwalya Ng’andu has implored companies under the Industrial Development Corporation (IDC) to explore synergies and do business amongst themselves and keep wealth within. Dr Ng’andu said, with the combined balance sheet value around K100 billion and Group revenue exceeding K15.6 billion annually, the IDC represents immense financial...
PARLIAMENT COMMENDS IDC
The Parliamentary Committee on Parastatal Bodies says it is impressed with the improvement in the operations of State-owned Enterprises (SOEs) since they were placed under the supervision of the Industrial Development Corporation (IDC) five years ago. Committee Chairperson Hon. Peter Daka says the Committee continues to look to the IDC...
IDC to upgrade Zambia Railways Limited with $1bn investment
IDC’s vision to have a modernised Zambia Railways Limited (ZRL) with maximised profitability will be realised once the Corporation secures about US$1 billion for the rail company. Group CEO Mr Mateyo Kaluba says negotiations are currently ongoing with development financiers and are expected to conclude before the end of the...
Medical Stores Limited to Separate from IDC
Medical Stores Limited is set to separate from the Industrial Development Corporation (IDC) and will be transformed into the Zambia Medicines and Medical Supplies Agency. IDC Group CEO Mr Mateyo Kaluba said the IDC was created with a mandate to supervise commercially oriented State-owned Enterprises to make them profitable and...
The Industrial Development Corporation (IDC) is Recruiting
Apply for your job today! The Industrial Development Corporation (IDC) is looking to add to its vibrant and dynamic team. Suitably qualified and experienced persons are hereby invited to apply for the following positions: Senior Risk Officer Senior Internal Auditor Senior Finance Officer Senior Procurement Officer Stores Officer Legal Counsel...
Kalene Hills Fruit Company & Eastern Tropical Fruit Company Commence R
Apply for your job today! Kalene Hills Fruit Company and Eastern Tropical Fruits, subsidiaries of the Industrial Development Corporation (IDC), are fruit and vegetable processing businesses located in Mwinilunga and Katete respectively. The plants are currently under construction and expected to commence operations in the fourth quarter of 2020. Suitably...
IDC joins Government in the fight against COVID-19
Press Release FOR IMMEDIATE RELEASE IDC DONATES TO FRONTLINE HEALTH WORKERS FIGHTING COVID-19 Lusaka, April 6, 2019 - The Industrial Development Corporation (IDC) has donated assorted Personal Protective Equipment (PPE) to help the Ministry of Health contain the Coronavirus (COVID-19). Group CEO Mr Mateyo Kaluba handed over the assortment to...
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...