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IDC CEO Urges State-Owned Companies to Boost Efficiency and Profitability

The Industrial Development Corporation (IDC) is calling on state-owned enterprises to prioritize efficiency, reliability, and profitability to become pillars of national pride. During a visit to the ZAFFICO Pole Treatment Plant in Kalulushi on Saturday, IDC Chief Executive Officer Cornwell Muleya emphasized the need for government-owned firms to actively invest in initiatives that enhance their financial performance.

With over 30 state-owned companies falling under the IDC portfolio, Muleya stressed the importance of these entities becoming flagbearers for Zambia’s economic development. He applauded the operations of ZAFFICO, highlighting the company’s significant contribution to the Zambian economy since its establishment in 1962.

“I am very impressed with the operations of ZAFFICO. Having learned about its long history since 1962, they have been around, producing material for the economy of Zambia since that time,” said Mr. Muleya. “We want all state-owned enterprises to be the pride of our country.”

ZAFFICO Managing Director Mundia Mundia echoed the commitment to value addition in timber production, revealing an investment of over $3 million to establish a kiln aimed at expediting the drying process for poles.

“We have invested in excess of $3 million to set up the kiln that would help us dry our poles as quickly as possible,” Mr. Mundia explained.

Source: Lusaka Times