NAPSA head commends Zambeef on local owership
April 25th, 2017
“When you got to buy meat from Zambeef you are actually supporting your own entity. If you are a member of NAPSA, you are actually supporting your own business” – Yollard Kachinda, NAPSA Director General
LUSAKA, ZAMBIA – When you’re speaking with Zambeef non-executive director Mr Yollard Kachinda “You’re speaking to an ordinary person like everybody else but with the understanding and extra responsibility to ensure that the work being done at NAPSA goes to benefit its members”.
The Director General for the National Pension Scheme Authority (NAPSA), who recently joined as one of three new non-executive directors on the board of Zambeef Products, highlighting the company’s diverse Zambian ownership structure, commended the food processing and retailing company for making it possible for every working Zambian to participate in the company’s business of feeding the nation through its commitment to growing the local agribusiness and retailing industries.
The National Pension Scheme Authority (NAPSA) – to which every employee and employer in the country contributes – is the single largest local shareholder in Zambeef, owning some 25 million shares amounting to 8.3 percent of the company.
“As a pension fund, one of our mandates is to invest the contributions or the money that we hold on behalf of the workers. The funds that NAPSA holds are members’ funds, so the Zambian workers actually own that amount of stake in Zambeef,” said Mr Kachinda.
NAPSA has a diversified portfolio investing in infrastructure, real estate, financial instruments like government bonds, treasury bonds etc., including public companies listed on the Lusaka Stock Exchange (LuSe) such as Zambeef, enabling the public to buy and trade its shares.
“What we’re looking forward to, as NAPSA, is the growth of the company. Zambeef has great opportunities, there are so many opportunities in the agricultural sector and its positioning already gives it that edge to expand and bring the benefits to NAPSA; the benefits to NAPSA are actually benefits to the Zambian workers who are members of the scheme and the community at large,” said Mr Kachinda.
He further pointed to the positive impact that Zambeef has had on the economy with farmers across the country given the opportunity to expand their businesses by partnering with the Company, “Zambeef is providing a market to our local farmers; they can grow they can employ. For me as a social security administrator I’m always looking for members; those farmers will employ more people and become members of NAPSA and we continue to grow the economy together,” he added.
Mr Kachinda advice to career aspirants is to simply combine smart work with hard work, something he shares in common with Zambeef.
“My Philosophy is hard work; hard work, hard work, hard work – we can have all the credentials, we can have all the degrees, yes it helps us in terms of understanding issues but for me the principle is hard work, sense of and ensuring that we perform. If you are a hard worker, the systems, the authorities and everybody else will recognise your hard work,” he observed.
Having a demanding career and family Mr Kachinda noted is not easy but that finding the right balance is the key to ensuring success in both areas.
“It’s a very demanding job, it eats into your time that you have with your family but I ensure that when I have the time when I knock off I’m always with my family; weekends holidays and I think they understand that I have a very busy job which we have to, we have to be available for the nation, it’s a question of balancing between family and office work and if you have the correct balance then you’ll be there,” said the family man.
Mr Kachinda studied mathematics and statistics at the University of Zambia and has a Masters degree in Social Protection Financing from Maastricht University.
He has been a part of transforming social securities in the country since the early nineties when NAPSA was still the Zambia National Provident Fund. Having joined straight from university, he rose through the ranks holding several positions such the Manager for auctorial and presided the changeover from Provident Fund to the current pension scheme. He then served for close to seven years as Director in charge of contributions and benefits, the operational wing of authority that enforces compliance, collects contributions and pays benefit before being appointed to the office of Director General in 2016.
In addition to NAPSA, other pension funds and institutions with investments in Zambeef include Saturnia Regna Pension Fund, Barclays Pension Fund, Bank of Zambia Pension Fund, Zambia State Insurance Company (ZSIC), KCM Pension Fund, Kwacha Pension Fund, the Workers Compensation Fund and Professional Life.
NAPSA Director General and Zambeef non-executive director Yollard Kachinda.
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 176 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
