Zambeef Products change in directorate

March 10th, 2021

In accordance with Section 3.59 of the Lusaka Securities Exchange Listings Rules (“LuSE Listings Rules”) Zambeef Products Plc (“Zambeef” or “the Company”) announces the following resignations and appointments from and to the Zambeef board respectively all effective 5th March 2021.

Zambeef would like to announce the following Directorate changes. Margaret Kunda Chalwe-Mudenda, Professor Enala Lyson Tembo-Mwase and John Rabb, all Non-Executive Directors of the Group, have stepped down from the Board with immediate effect.

Katebe Monica Musonda, Pearson Gowero and Roman Frenkel and have been appointed to the Board as Non-Executive Directors with immediate effect.

Ms Musonda is CEO and Founder of Java Foods, a Zambian based food processing company. Ms Musonda is a dual-qualified English solicitor and Zambian advocate with over 15 years post qualification experience. She has held senior positions in private practice with Clifford Chance & Edward Nathan as well as worked as in-house corporate counsel at International Finance Corporation and for the Dangote Group. Ms Musonda currently serves as a non-executive director on the Board of Airtel Networks Zambia PLC and Zambian Breweries PLC (amongst others) and sits on the Global Advisory Board for Scaling Up Nutrition Business Network. She was appointed by the UN Secretary General to be a member of the Lead Group on Scaling Up Nutrition Movement. Ms Musonda is the recipient of the 2017 African Agribusiness Entrepreneur of the Year award. She is a 2013 Young Global Leader (World Economic Forum) and Archbishop Desmond Tutu Leadership Fellow.

Mr Gowero is currently the Chief Executive of Delta Corporation Limited, a leading beverages company in Zimbabwe, having joined Delta in 1997 as Marketing Director of the then Chibuku Breweries Division and becoming the unit Managing Director in 2001. He has held various senior positions in the beverages business and became Executive Director Operations in 2003. He spent five years on secondment to the SABMiller Group from 2006 to 2011 where he was the Managing Director of Zambian Breweries Group. Prior to joining Delta, he had worked in the clothing retail industry. Mr Gowero holds a BSc (Hons) degree in Economics and an MBL.

Mr Frenkel is currently Director of Direct Private Equity focusing on Food & Agriculture at CDC Group Plc, London. Prior to this, Roman spent nine years between 2009 and 2018 at Ethemba Capital LLP, Emerging Markets Private Equity Fund, London, as Investment Director. Mr Frenkel has also spent time at Merrill Lynch CEEMEA Investment Banking, London, as well as KPMG, Transaction Services and Audit, London.

The composition of the Board following the above changes is as follows:

Name Position
Michael Mundashi Non-Executive Chairman
Walter Roodt Chief Executive Officer
Faith Mukutu Chief Financial Officer
Jonathan Kirby Non-Executive Director and Chair of the Audit and Risk Committee
Katebe Monica Musonda Non-Executive Director and Chair of the Remuneration Committee
Pearson Gowero Non-Executive Director and Chair of the Environmental and Social Committee
Frank Nicolas Julia Braeken Non-Executive Director
Yollard Kachinda Non-Executive Director
Roman Frenkel Non-Executive Director

By Order of the Board

Mwansa M Mutimushi

Lusaka, Zambia 10 MARCH 2021