ZICB Pays First-Ever K9 Million Dividend

Zambia Industrial Commercial Bank Delivers First Dividend Payout, Signals Rising Strength of Local Banking Sector

The Zambia Industrial Commercial Bank (ZICB) has declared and paid out its first-ever dividends, totaling K9 million, marking a major milestone for the fully Zambian-owned bank. The payout was officially handed over to shareholders during a media breakfast held today in Lusaka.

The ceremony drew participation from key shareholders, including NAPSA, the Industrial Development Corporation (IDC), Workers Compensation Fund Control Board (WCFCB), Mahdi Manufacturers, Guardian Insurance Brokers, and individual investors Mr. and Mrs. Kabuswe. Members of the ZICB Board and senior management were also in attendance.

ZICB Board Chairperson, Mr. Danny Luswili, hailed the dividend announcement as a reflection of the bank’s steady growth, financial discipline, and strong governance.

“This achievement reflects disciplined governance, prudent financial management, and the collective efforts of our Board, Management, staff, and most importantly, our loyal customers and shareholders,” Mr. Luswili said.

He revealed that the dividend payout represents 30% of ZICB’s Net Profit After Tax, following a robust financial performance that saw the bank post K31 million profit for the year ending December 2024.

Representing the shareholders, NAPSA Director General, Mr. Muyangwa Muyangwa, welcomed the dividend, noting that NAPSA alone received K5.8 million from the distribution. He said the return validates the fund’s decision to support the establishment of a homegrown, innovation-driven commercial bank.

“ZICB is more than just a bank; it is a development partner supporting citizens and a key player in driving national economic growth. The dividend we receive today reflects ZICB’s sound governance, steady growth, and commitment to the country,” Mr. Muyangwa said.

The historic payout marks a new chapter for ZICB, which has positioned itself as a champion of local wealth creation and expanded access to credit for Zambian SMEs.

In closing, the Bank extended gratitude to clients, partners, regulators, and staff, noting that today’s achievement is the result of their trust, collaboration, and unwavering support.