Zamcargo, a freight forwarding and cargo handling company wholly owned by the Industrial Development Corporation (IDC) Zambia, has declared its first-ever dividend of K4.2 million to its shareholder.
The announcement has been positively received by IDC, which continues to implement measures aimed at enhancing the performance of State-Owned Enterprises (SOEs), with a focus on achieving profitability and long-term sustainability.
IDC acknowledged the significant progress made by Zamcargo’s board and management, especially over the past two years, recognising the results achieved under the company’s current strategy and operational improvements.
Zamcargo’s board, through its Vice Chairperson, outlined the work undertaken since its formation roughly two years ago. This includes efforts to strengthen governance structures, support executive leadership with the necessary skills, improve internal controls, and explore new business opportunities. These initiatives have contributed to the company’s improved performance.
Established in 2001 and headquartered in Dar-es-Salaam, Tanzania, Zamcargo was created to streamline the handling of Zambia’s imports and exports, reducing associated costs and minimising delays at the port of Dar-es-Salaam. A key objective has been to conserve Zambia’s foreign currency reserves by improving efficiency along this critical trade corridor.
Under its new Strategic Plan, Zamcargo is expanding its operational footprint. This includes the development of a second depot in Tanzania and entry into new markets such as Namibia. The expansion is anticipated to enhance the company’s cargo handling capacity and drive future revenue growth.
