Zanaco has presented a dividend cheque of over K134 million to the Industrial Development Corporation (IDC) for the 2024 financial year, reflecting IDC’s 25% equity stake in the bank.
The cheque was formally handed over by Zanaco Board Chairperson, Prof. Oliver Saasa to Minister of Finance and National Planning Dr. Situmbeko Musokotwane and IDC Chief Executive Officer Mr. Cornwell Muleya. This was during the Ministry of Finance’s Townhall Meeting on the 2025 Second Quarter Budget and Economic Performance and the 2026–2028 Medium-Term Budget Plan held at the Mulungushi International Conference Centre.
Speaking during the ceremony, Prof. Saasa emphasized the importance of a supportive macroeconomic environment in driving profitability within the banking sector.
“To deliver a healthy dividend like this, we appreciate the hospitable environment the Government has created,” he said.
The dividend follows Zanaco’s strong financial performance in 2024, in which it posted a record profit after tax (PAT) of approximately K1.8 billion, an increase from K1.7 billion recorded in 2023.
Zanaco was the first commercial bank in Zambia to exceed K1 billion in PAT in 2021. Its continued year-on-year growth reaffirms its position as one of the leading and most resilient financial institutions in the country.
