Nanga Farms presents over K3m dividends

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Nanga Farms PLC has today presented a dividend cheque of about K3 million to the Ministry of Finance.

In receiving the donation on behalf of government in Lusaka today, Secretary to the Treasury Fredson Yamba commended the company for posting dividends of K3, 008,872.10 and sustaining good performance.

Mr. Yamba said government appreciates partnering with the private sector to drive economic growth through competent management of commercial operations.

He has since urged Nanga Farms board to continue being sensitive to the plight of workers as they work hard to increase value for money.

Mr. Yamba said the company should also consider the community and small holder sugarcane growers in the Magobo community.

He said this was an important channel of generating employment indirectly and uplifting the standards of living of the rural communities in Mazabuka and Chikakanta districts, where they operate from.

Mr. Yamba said government was aware that the majority shareholder, Zambia Sugar PLC, was an important partner in the neighbouring Manyonyo irrigation scheme.

He said the irrigation scheme was helping to make the dream of sugarcane production for the small holder farmers become a reality.

And Nanga Farms Acting Chairperson Rebecca Katowa said in recent years Nanga Farms has benefitted from Zambia Sugar’s commitment to sustainable development.

Ms. Katowa said Nanga Farms’ strong performance has continued to benefit other stakeholders in the community.

Government holds 14.27 percent shares in Nanga Farms. The company is the only agricultural entity that has consistently been declaring dividends.