• Secretary to the Treasury, Fredson Yamba (right) receives a dummy cheque from Zambia Sugar managing director Rebecca Katowa at the Ministry of Finance in Lusaka yesterday. Picture by STEPHEN KAPAMBWE

By CATHERINE NYIRENDA –

GOVERNMENT has commended Nanga Farms for being the only agriculture entity that has consistently been declaring dividends since 2009.
Secretary to the Treasury, Fredson Yamba said Government had so far received K10.2 million from Nanga Farms since 2009 when Zambia Sugar took over the majority shareholding in the farm.
Mr Yamba said this yesterday when he received dividends from Nanga Farms worth K3,008,872.10 for the year ending March 31, 2014 at the Ministry of Finance in Lusaka.
Government holds 14.27 per cent shares in Nanga Farms which sells the bulk of its sugar cane to Zambia Sugar, who are the majority shareholder.
“I commend the company for posting and sustaining good performance as can be witnessed today as the dividend which also attests to good management,” he said.
He said Government appreciates the partnership with the private sector to drive economic growth through competent management of commercial operations, while focusing on policy to provide the relevant investment climate to drive economic growth.
He urged the company to continue being sensitive to the plight of workers, even as it worked hard to increase value for money for shareholders as well as taking care of communities around them such as smallholder sugar cane growers in Magobbo community.
Zambia Sugar acting managing director, Rabecca Katowa said since 2009 when her company invested in the company, the conditions of the service for Nanga Farms workers had continued to improve with salaries that were above the statutory minimum wage.
Ms Katowa said significant investment had been made in employee welfare through construction of additional housing, refurbishment and electrification of existing housing while ensuring sustainable production, growth and profitability for the shareholding.