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Annual Report Summaries, Investee Companies

Kariba Minerals Limited (KLM) Extract from 2020 Annual Report

For the period under review, Kariba Minerals Limited (Kariba) reported total revenues of ZMW12.44 million (2019: ZMW4.18 million) with a net loss of ZMW11.19 million (2019: ZMW48.64 million profit).  

During the period under review, ZCCM-IH provided an extension on the USD550,000 cash cover for Kariba’s USD500,000 working capital facility with Investrust Bank Plc. The facility was set to expire during the period under review, and KML requested for the extension of the facility for an additional 12 months. This was requested due to challenges the business faced during the financial year caused by the adverse effects of the Covid-19 pandemic and the suspension of exports for a prolonged period.  

There were no dividends declared during the year under review (December 2019: Nil).  

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