The Board and Management of Zambian Breweries Plc (“ZB”) wish to update the market on a material upcoming capital investment.
Zambian Breweries PLC will be investing up to US$80 million in Zambia towards a ground-breaking expansion program of Zambian Breweries’ current plant infrastructure. This will be funded through a combination of company funds, as well as from new and existing facilities to cover both foreign and local currency costs. In the short term we will use existing banking facilities with local Zambian banks that are already in place at existing terms. For the future we are looking at bank funding through local Zambian banks either through Term Loans or Revolving Credit Facilities for which negotiations have commenced.
The development represents a significant investment into the Zambian economy and comes about in response to the enabling investment climate under the New Dawn government.
This investment will not only enhance the production capacity of Zambian Breweries but will also significantly contribute to the wider national economy.
The investment commitment is expected to create additional direct and indirect employment, offer procurement opportunities for local suppliers and service providers, and contribute to the fiscus with increased revenues once the project is complete.
The expansion programme is scheduled to commence this year and is expected to be concluded by the end of 2023.
By order of the Board
Issued in Lusaka, Zambia on 27 June 2022