Zambeef Products plc appoints Ms. Faith Misozi Mukutu as the new Chief Executive Officer

By Published On: June 29th, 2022Categories: Corporate announcement

The Board of Directors of Zambeef Products Plc (“the Company” or “Zambeef”) wishes to announce the appointment of Ms. Faith Misozi Mukutu as Chief Executive Officer (CEO) of the Company. The appointment comes into effect on 1st July, 2022.

Ms. Mukutu succeeds Mr. Walter Roodt, who has been CEO since January, 2020. Walter will continue with the Company focusing on strategic projects and large livestock and will remain a member of the Board.

The appointment of Faith represents the confidence the Board has in her ability to steer the business through the new phase of the expansion announced on 16th June, 2022.

Faith joined Zambeef in 2019 as Chief Financial Officer, a role to which she brought a wealth of experience, having been Finance Director of three listed entities; Zambian Breweries Plc, National Breweries Plc. and Zambia Sugar Plc.

A fellow of ZICA, an accounting and finance professional having experience of over 20 years, mostly spent in leadership positions, she combines her solid academic qualifications with the requisite breadth and depth of experience leading national and multi-national organisations.

Mr. Michael Mundashi SC., the Chairman of the Board, commented: “The Board is confident that Faith’s combination of financial aptitude, operational skill, strategic flair and capital markets experience is fundamental to delivering the strategic imperatives the Company has embarked on.”

For further information, please contact:

Zambeef Products plc
Walter Roodt, Chief Executive Officer
Faith Mukutu, Chief Financial Officer
Tel: +260 (0) 211 369003

finnCap (Nominated Adviser and Broker)
Ed Frisby/Tim Harper (Corporate Finance)
Tim Redfern/Barney Hayward (ECM)
Tel: +44 (0) 20 7220 0500

Autus Securities Limited (Sponsoring Broker)
Mataka Nkhoma (Broker)
Tel: +260 (0) 761 002 002

By order of the Board

Mwansa Mutimushi
Company Secretary

Notes to Editors

Zambeef Products plc is the largest integrated cold chain food products and agribusiness company in Zambia and one of the largest in the region, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, eggs, dairy products, fish, flour and stockfeed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana.

It has 238 retail outlets throughout Zambia and West Africa.

The Company is one of the largest suppliers of beef in Zambia. Five beef abattoirs and five feedlots are located throughout Zambia, with a capacity to slaughter 230,000 cattle a year. It is also one of the largest chicken and egg producers in Zambia, with a capacity of 8.8m broilers and 22.4 million day-old chicks a year. It is one of the largest piggeries, pig abattoirs and pork processing plants in Zambia, with a capacity to slaughter 75,000 pigs a year, while it’s dairy has a capacity of 120,000 litres per day. The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 6,099 hectares of row crops under irrigation, which are planted twice a year, and a further 8,730 hectares of rainfed/dry-land crops available for planting each year.

www.zambeefplc.com

Issued in Lusaka, Zambia on 29 June 2022

First Issued on 29 June 2022

Zambeef Products Plc (ZAMB.zm)

Share price: 2.60 Kwacha (0.05 | 1.96% – 11/08/22)

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