Tazama Declares K120 Million Dividend to Zambian Government

Tazama Pipelines Limited has declared a dividend of more than K120 million to the Government of Zambia, reflecting strong financial performance for the reporting period.

Board Chairperson Professor Ephraim Munshifwa announced that the Government of Tanzania will additionally receive over K60.1 million in dividends.

Professor Munshifwa disclosed that the company's Board of Directors recorded a profit exceeding K180.5 million for the period under review.

Speaking in Lusaka during the presentation of the dividend to the Ministry of Finance and National Planning, Professor Munshifwa said that more than K541.7 million has been retained within the company to support future investments, strengthen operations and drive long-term growth.

Meanwhile, Acting Secretary to the Treasury Mwaka Mukubesa said the dividend underscores the important role that State-Owned Enterprises play in generating value for the economy.