By Jane Chanda
The Ministry of Finance and National Planning has announced that the government has received a dividend of over K105 million from TAZAMA Pipelines Limited for the financial year ended December 31, 2024.
In a statement yesterday, Finance minister Dr. Situmbeko Musokotwane hailed the milestone as a demonstration of the positive trajectory in the management and operational efficiency of the company.
He officiated the dividend presentation ceremony alongside his counterpart from Energy ministry Makozo Chikote.
“This dividend represents not just a financial return, but a positive improvement in the management and operations of TAZAMA Pipelines Limited,” Dr. Musokotwane stated. “It will go a long way in supporting government’s developmental objectives.”
He congratulated the board and management of TAZAMA Pipelines Limited for their dedication and prudent leadership, noting that the dividend signified more than a financial return, describing it as a symbol of improved performance within Zambia’s critical energy infrastructure.
He explained that TAZAMA posted revenue of K1.4 billion and a net profit after tax of K632 million in 2024, reflecting a 17.5 percent increase in profitability from 2023.
Dr. Musokotwane pointed out the strategic importance of the energy sector in driving national economic activity, stating that petroleum products transported via the TAZAMA Pipeline from the port of Dar es Salaam, Tanzania, were critical for facilitating the movement of people and goods, and powering the production of essential services across the country.
He also stated that the government was committed to optimising the use of the TAZAMA Pipeline to improve efficiency and stabilise fuel pricing.
“We are enabling third-party access to the TAZAMA Pipeline infrastructure, allowing private sector fuel suppliers to compete and deliver fuel more cheaply,” Dr. Musokotwane stated. “This is part of government’s wider reform agenda to modernize the energy sector and increase private sector participation.”
To support this initiative, Dr. Musokotwane stated that the government introduced guidelines under the TAZAMA Open Access Framework, available on the Energy Regulation Board’s website.
He further reaffirmed the government’s commitment to fiscal reform, economic resilience, and private sector-led growth.
“Let this achievement by TAZAMA serve as a reminder that, with the right governance structures and strong will, public institutions can deliver tangible benefits for our citizens. We are here to support increased private sector production,” stated Dr Musokotwane.
