LS-MFEZ DECLARES THIRD CONSECUTIVE DIVIDEND TO IDC

By Scoop Reporter

THE Industrial Development Corporation (IDC) has congratulated the Lusaka South Multi Facility Economic Zone Limited (LS-MFEZ) for declaring a third consecutive dividend to the Corporation for the 2023 financial year.

Speaking during the handover of over K 1.5 million Kwacha cheque to the IDC in Lusaka yesterday, IDC Chief Financial Officer Raphael Chipoma said the declaration of this dividend contributes significantly to the overall mandate of IDC to industrialize Zambia and create a wealth fund that will benefit future Zambians.

Mr. Chipoma explained that LS-MFEZ should be proud for being constituent with producing positive results and for being directly involved in the industrialisation agenda through dividend declaration.

He further explained that with IDC as an investment vehicle of the Government, the dividends received from its investments are key in driving Zambia’s industrialisation agenda.

And LS-MFEZ Board Chairperson Mr. Boster Chiyaba attributed the dividend declared to the unwavering support from the shareholders – IDC and the prudent measures that have been put in place by the Board and Management in the execution of the company’s strategy.

Mr. Chiyaba said the Board and Management of LS-MFEZ will continue implementing transformational strategic initiatives and are confident of achieving significant growth potentially leading to a higher dividend pay-out rate for the financial year ending 2024.