World Bank officials call on Zambeef
LUSAKA, ZAMBIA – A delegation from the World Bank and International Finance Corporation (IFC) paid a visit Zambeef’s Ten-Miles Macro Outlet and Lusaka processing outlet on Friday (July 28) as part of the organisation’s wider tour of development projects and investments in the country.
Expansion of Zambeef’s Novatek stockfeed division with the addition of a new processing plant in Mpongwe have been undertaken with support from IFC. The investment will generate additional capacity that will facilitate the continued growth of sales of Novatek stockfeed and Zamhatch day-old chicks to the local market as well as the export of surplus feed.
In addition to the stockfeed plant, Zambeef continues to make significant investments in the country, having injected US$16.5 million in capital expenditure in 2016 alone.
The company expects to spend a further US$21 million this year in investment in several high-return parts of the business, including growing its retail network, expansion of its dairy operations and Zamhatch hatchery as well as its operations at Masterpork.
Zambeef aims to be the most accessible and affordable food processor and retailer in the Central African region, delivered through the Group’s extensive retail and distribution network.
World Bank and IFC representatives visit Zambeef’s Ten Miles butchery, with Zambeef Head of Retail and Marketing Felix Lupindula.
About Zambeef Products Plc
Zambeef Products Plc is the largest integrated agribusiness and food processing company in Zambia and one of the largest in the region.
The group is principally involved in the production, processing, distribution and retailing of beef, chicken, pork, milk, dairy products, eggs, stockfeed and flour. The group also has large row cropping operations (principally maize, soya beans and wheat), planting 16,500 hectares in summer and 8,000 hectares in winter. The group is also expanding its West Africa operations in Nigeria and Ghana.
The company slaughters around 70,000 beef cattle, 6.75million chickens and 70,000 pigs per annum, while also processing 16 million litres of milk, producing 150,000 tons of stockfeed, 60 million eggs, 78,000 pairs of shoes and processes 97,500 hides in its tannery per year.
It has 177 retail outlets throughout Zambia and West Africa.
Zambeef employs over 6,000 people with a total of K307 million paid in remuneration and benefits in the last year, and contributed K144m to Government in taxes and duties.
More information is available at www.zambeefplc.com
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Zambeef Products Plc (ZAMB.zm)Share price: 2.59 Kwacha (0.00 | 0.00% – 22/03/23)
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