Zambeef’s strong local commitment reflected in shareholding pattern

LUSAKA, ZAMBIA – Thousands of people across Zambia have a stake in the success of Zambeef Products and own shares in the group through their pension funds, the country’s largest food processing company has revealed.

The National Pension Scheme Authority (NAPSA) – to which every employee and employer in the country contributes – is the single largest Zambian shareholder in Zambeef, owning some 25 million shares amounting to 8.3 percent of the company.

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.

“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. As such, our priority is focused on supporting the growth of the agriculture industry on the home front,” said Zambeef Chairman Dr Jacob Mwanza during the company’s annual general meeting (AGM) of shareholders in Lusaka today (December 19).

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.

Having started out as a very small-scale outfit, Zambeef has through its integrated business model grown to be the nation’s leading protein provider and prides itself in the consistent delivery of affordable, accessible and value added products and services across its value chain.

Zambeef has over the years shown its commitment to the local cause in various ways such as the implementation of its 100 per cent local procurement of livestock from local farmers, its outgrower schemes, as well as employment creation with more than 6,000 permanent employees across the country.

“When customers buy from us, they are not only supporting us as a Zambian company, but also contributing to the growth of the pension funds for every working Zambian,” said Dr Mwanza.

Zambeef Products – every working Zambian a shareholder	Zambeef Products – every working Zambian a shareholder
Zambeef Products – every working Zambian a shareholder	Zambeef Products – every working Zambian a shareholder

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), with approximately 7,971 hectares of row crops under irrigation which is planted twice a year and a further 8,623 hectares of rain-fed/dry-land crops available for planting each year. 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 14.8 million litres of milk, producing 150,000 tons of stockfeed, 40.2 million eggs, 78,000 pairs of shoes and processes 97,500 hides in its tannery per year.

It has 171 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. Zambeef generated US$55m in US Dollar income and contributed K144m to Government in taxes and duties.

More information is available at www.zambeefplc.com