Published: 30 August 2017

The government has received a US$ 2.9 million dividend from one of its entities, the National Oil Infrastructure Company of Zimbabwe (NOIC).

The Permanent Secretary in the Ministry of Energy and Power Development, Mr Pattison Mbiriri confirmed to the ZBC News NOIC declared the dividend for the trading period ending December 31, 2016, to its main shareholder, the government this Wednesday (today).

NOIC whose overall profit for the trading period under review declined by 3 percent to US$15.6 million should, however, be commended for reducing dependency on funding from the state, said Mr Mbiriri.

"What more else do we want instead of just applauding them for their good work," he said.

The declaration of the dividend is an indication of progress regarding parastatal reforms introduced by the government says NOIC vice chairman, Air Commodore Innocent Chiganze.

Air Commodore Chiganze said: "It is just a key indicator of the progress we are doing to unlock more value in the economy".

The government has mandated parastatals to focus on profitability by streamlining non-core business units, increasing efficiency, improving service delivery and adopting ease of doing business reforms among other key factors.
- zbc

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