Zambia Airports pays K5 million dividend to govt

Zambia Airports pays K5 million dividend to govt

Zambia Airports Corporation Limited has declared a dividend of K5 million for the financial year ending 31st December, 2016 to the government which is a shareholder.

Speaking when he received the check in Lusaka, Finance Minister Felix Mutati says parastatal companies should be able to stand on their own and be able to declare dividends to the government.

Mr. Mutati says as outlined in the 2018 national budget, the government has not provided funds for recapitalization of parastatal companies.

Mr. Mutati says what the government will do is to restructure these companies so that they are able to stand on their own.

He laments that out of the thirty eight parastatal companies in Zambia, only a few are able to declare dividends to the government.

Speaking at the same event, Transport and Communications Minister Brian Mushimba says the move by Zambia Airports Corporation Limited speaks to what President Lungu while in parliament said parastatal companies should refocus and improve their corporate governance and become profitable.

And Zambia Airports Corporation Limited Board Chairperson Milingo Lungu says the corporation is taking steps in signing a construction contract of Mfuwe International Airport and that works will commence soon as soon as funds are available.