NAPSA head joins Zambeef board
April 18th, 2017
As Zambeef appoints three new board directors
LUSAKA, ZAMBIA – National Pension Scheme Authority (NAPSA) Director General Yollard Kachinda has been named as one of three new non-executive directors on the board of Zambeef Products, highlighting the company’s diverse Zambian ownership structure.
Lawyer and former Director General of the Zambia Information and Communications Authority Margaret Kunda Chalwe-Mudenda and prominent Zambian academic Enala Lyson Tembo-Mwase have also joined the board of the country’s leading cold chain food processor and retailer.
Mr Kachinda’s appointment as NAPSA’s representative on the Zambeef board recognises NAPSA as Zambeef’s biggest local shareholder, owning 25 million shares amounting to 8.3 percent of the company. As a result of NAPSA’s shareholding, thousands of people across Zambia have a stake in the success of Zambeef and own shares in the group through their pension funds.
In welcoming the three new directors to the board, Zambeef Chairman Dr Jacob Mwanza said: “We are a deeply rooted Zambian company and the country’s success is our success and vice versa. The fact that most pension funds in the country are shareholders of the company only goes to show just how deep those roots go with every working Zambian having a vested interest in Zambeef.”
Zambeef’s shareholding structure demonstrates the company’s commitment to growing the local agribusiness and retailing industries, making it possible for every working Zambian to participate in the company’s business of feeding the nation.
The appointment of the three new non-executive directors is a move aimed at broadening the depth of experience and diversity present on the company’s Board of Directors.
The company has further announced the resignation of Graham John Clark as a non-executive director with immediate effect in order to take up the full-time role of Chief Executive Officer of Fiji Sugar Corporation. Dr Mwanza thanked Mr Clark for his contribution to the Company wishing him the best in his new role.
“I would like to thank Graham for his contribution to Zambeef since he was appointed to the Board. Graham’s extensive business experience has been greatly appreciated. On behalf of everyone at Zambeef I would like to wish him the very best in his new role. I also take this opportunity to welcome the three new non-executive directors to the Board of Zambeef. I believe they all bring highly relevant experience and skills which will be of significant value in supporting the growth of Zambeef at this exciting stage of development,” he said.
Mr Kachinda is Director General of the National Pension Scheme Authority and has overall responsibility for, and oversight of, the day-to-day running of the pension scheme, as mandated by the Board of Trustees. Mr Kachinda studied mathematics and statistics at the University of Zambia and has a Masters degree in Social Protection Financing from Maastricht University.
Ms Chalwe-Mudenda is a lawyer. She previously worked as a legal practitioner from 1996 to 2009, during which time she was also employed by the Zambia National Commercial Bank Plc (ZANACO) as in-house counsel between 1999 and 2004. Since 2010, she has been Director General of Zambia Information and Communications Authority (ZICTA).
Ms Tembo-Mwase is a prominent Zambian academic. She currently serves as an associate professor of parasitology at the University of Zambia. In addition, she is the University of Zambia’s Deputy Vice Chancellor, and briefly served as the university’s acting Vice Chancellor between 2015 and 2016. Ms Tembo-Mwase has a Bachelor of Science degree specialising in biological sciences from the University of Zambia and a Master of Science and Doctorate degree from the University of London.
“We look forward to having the three directors and forging ahead with business. We’re especially delighted at the fact that two of the directors are female,” said Dr Mwanza.
Zambeef is listed on the Lusaka Stock Exchange (LuSE), enabling the public to buy and trade its shares. 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.
Zambeef staff welcome the company’s three new non-executive directors, from left, National Pension Scheme Authority (NAPSA) Director General Yollard Kachinda, Lawyer and former Director General of the Zambia Information and Communications Authority Margaret Kunda Chalwe-Mudenda, and prominent Zambian academic Enala Lyson Tembo-Mwase
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