The National Pensions Scheme Authority – NPSA has received a dividend of ZMW 7.98 million (about US$560,000) from ZCCM-IH, a demonstration of the authority’s investment in various assets as guided by investment guidelines.
NAPSA is major player in Zambia’s financial and social security sectors with a goal of providing long term income security to its members and their families.
Speaking at the dividend handover ceremony on February 12, 2020, NAPSA Director General Yollard Kachinda said the authority has since 2014 continued to make profits from its investments in ZCCH-IH adding that it paid a dividend total sum of K55,833,959.26 from profits made in ZCCM-IH so far.
He further disclosed that the authority currently has over 16,000 pensioners on its payroll with a total pensions payout in 2019 standing at over K1 billion, the cash which is ploughed back to turn the economic wheels of the country.
“On behalf of the board and management of NAPSA, I would like to assure all workers contributing to NAPSA that their interests will always be at the center of every investment decision we make. It is therefore important to note that we will always ensure that we invest and grow the fund in a transparent and prudent manner which will result in a financially sustainably scheme,” He said.
And ZCCM-IH Chief Executive Officer – CEO Mabvuto Chipata said the fourth dividend cheque handed over to NAPSA is a fulfillment of one of its major strategic pillars and a demonstration of its commitment to its stakeholders.
“Even though copper remains the mainstay commodity within our group, we are widening our footprint in the mining sector by developing new product lines such as manganese in central province, and gold processing in Runfunsa, Mumbwa and Mwinilunga,” He said.
Mabvuto added that the named projects are just awaiting finalization of statutory approvals which will be concluded soon. ZCCM-IH has reiterated its focus on generating consistent and predictable income through investments in brown field and greenfield projects while ensuring and maximizing for its shareholders.
