ZAMTEL RECORDS FIRST PROFIT SINCE 2006, POSTS K2.3 BILLION IN 2024
By Jack Makayi.
Lusaka – 10th July, 2025.
Zambia Telecommunications Company Limited (Zamtel) has achieved a significant milestone by recording a profit of K2.3 billion for the 2024 financial year, its first since 2006, according to Zamtel Chief Executive Officer Jeson Mwanza. The company further reported a profit of K354 million for the first half of 2025.
Speaking at a stakeholder engagement session with the Parliamentary Committee on Parastatals at Zamtel’s headquarters, Mwanza attributed the financial turnaround to disciplined fiscal management, expanded service coverage, and continued investment in network infrastructure. He emphasized the company’s commitment to sustaining this growth trajectory.
Mwanza expressed gratitude for the support from Members of Parliament, noting their engagement had been instrumental in addressing Zamtel’s challenges and opportunities. He urged MPs to prioritize Zamtel services in their constituencies and called on the government to adopt Zamtel lines as the primary communication channel for ministries and departments, a move he said would bolster the company’s sustainability.
To enhance connectivity and customer experience, Zamtel is accelerating its nationwide rollout of 4G network infrastructure as part of its strategic growth plan..
Dr. Chitalu Chilufya, Chairperson of the Parliamentary Committee on Parastatals, praised Zamtel’s board and management for their effective leadership and clear strategic focus, which he said had steered the company back to profitability after years of financial difficulties. He expressed satisfaction with Zamtel’s audited financial performance and its progress in implementing growth initiatives.
The committee reaffirmed its commitment to providing oversight and support to state-owned enterprises like Zamtel, emphasizing their potential to deliver value and contribute to Zambia’s economy.
Zamtel’s return to profitability marks a pivotal moment for Zambia’s parastatal sector, highlighting the impact of sound governance and strategic management in driving economic contributions.
CIC PRESS TEAM
I hope the debt that was said to be owing to the Libiyans has been paid off. No point telling us of a profit while nkongole is looming over the head of this institution.
Indeed. This SOE was bailed out by government. On it’s own, it could not have attained that ” profit”
You can start paying lap green whom you are owing $340 million due to that incompetent and chamba smoking sata.