Following the convention of the Pipeline from crude to finished product line; TAZAMA Pipelines Limited announced and turned over a dividend of K89.6 million to the Zambian government and K44.8 million to the Tanzanian government. The Zambian and Tanzanian governments own 67 and 33 percent of the corporation, respectively.
Energy Minister Makozo Chikote disclosed that TAZAMA Pipelines Limited has reached an advanced stage in the procurement process for constructing a new multi-product pipeline. He was speaking during the handover of the K89.6 million dividend cheque to the Minister of Finance Situmbeko Musokotwane.
In addition, TAZAMA Pipelines Limited Board Chairperson Peter Mumba disclosed that the company had made notable strides since the conversion of the pipeline from transporting commingled fuel to low-sulphur gas. He noted that the last time TAZAMA Pipelines Limited declared a dividend was in 2019, and the amount was K37 million. He further acknowledged how it is often challenging for companies to declare dividends.
