Mpulungu Harbour projects K70 million revenue collection
By BUUMBA CHIMBULU
REVENUE worth K70 million is this year expected to be realised from handling of cargo at the Mpulungu Harbour Corporation Limited, boosted by the introduction of coal for export to Burundi.
This revenue collection will also be boosted by the anticipated upward of 220,000 metric tonnes of cargo to be handled, according to the Port Managing Director, Dominic Bwalya in an interview.
“In 2020, we posted a profit of K16 million and for the first time, we were able to pay dividend to Government of K2.4 million which demonstrates the simple steps we are taking to build a parastatal adding value to the coffers of the country.
“Last year our total revenue was K62 million and this year our revenue outlook is about K68 million to K70 million,” Mr Bwalya said.
He indicated that the port had over the years recorded an increase in cargo handling which mainly comprised cement and sugar.
Mr Bwalya however indicated that the port last year introduced coal as another product being handled.
“We have seen an increase in cargo year on year. In 2018, we handled about 164,000 metric tonnes then in 2019, 181,000 metric tonnes and last year we were at 205,000 metric tonnes so year on year has been increasing. We are expecting this year an upward of 220,000 metric tonnes of cargo.
“The texture of the cargo type has remained somewhat the same, it is largely construction related cargo such as cement, that is being exported into Burundi. As of last year we saw introduction of coal that is destines for Burundi which has helped to boost the volumes of cargo that we are handling,” he stated.
Meanwhile, Mr Bwalya said the Port had continued with its modernisation agenda as it currently sat with a promise from the Dutch government of a grant of up to Euros 30 million which was supposed to be unlocked with the counterpart funding of 50 percent.
He explained that the Port was also in talks with the Development Bank of Southern Africa and Africa Development Bank to source for the 50 percent counterpart funding.
“We have three specific bottlenecks at the port: the loading area which is very limited and only allows us to handle one vessel at a time, the equipment that we have is also ill scoped for handling cargo and the layout of the port is also inefficient.
“The money we are looking for is largely to attend to these three ambitions,” Mr Bwalya said.