ZSIC records K48 million profit for 2017

ZSICThe Zambia State Insurance Corporation (ZSIC) has recorded a profit of about K48 million for the financial year ending December 31 2017.

ZSIC Managing Director Charles Nakhoze says the achievement demonstrates that ZSIC’s strategic Plan it embarked on three years ago has been to a large extent achieved as the company is now moving in the right direction.

And Mr. Nakhoze has also announced that the operating expenses reduced from K24 million in 2016 to K12 million in 2017.

Speaking during a media briefing in Lusaka, Mr. Nakhoze says management expenses also fell from K88 million in 2016 to K78 million in 2017.

Meanwhile Mr. Nakhoze has further disclosed that the Zambia Development Agency allowed the Corporation to write off K38 million as time barred debt.

He further reveals that ZSIC is making deliberate efforts to channel resources toward the key areas of the company which includes development of human capital, refurbishment of infrastructure, investment in IT, new product development, and refinement of internal processes and improvement of customer service.

Leave a Reply

Your email address will not be published. Required fields are marked *

*