Zambeef, the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, on 27th July 2018 announced the appointment of Frank Braeken to its Board as a Non-Executive Director with immediate effect. Now this was no ordinary appointment. According to SENS announcement published on LuSE, “Frank is being appointed as […]
When Zambia Sugar’s Corporate Affairs Manager Sally Namutowe made the July 2018 press statement that her company was engaging employees in effecting a voluntary separation program, we were not surprised that the sweetest company in Zambia was considering a cost reduction strategy to save its position. According to an extract from her statement, Sally indicated […]
When the UK’s development finance institution, the CDC Group, announced its acquisition of a 17.5% equity stake in Zambeef Products for $65 million in 2016, the local food industry was taken by storm. Not only did this investment show the confidence in the Zambian local food industry, it showed that Zambeef was ready to scale […]
In a period that was marred by increases in fuel and electricity and the outbreak of foot & mouth and Cholera, it is impressive to hear a board Chairman be proud of his food producing company’s performance. Revenue for the half year period was up by 6%. This is the success that was echoed in […]
It has been an interesting start to the year 2018 for the custodians of all parastatals. IDC closed 2017 with a $15m purchase of ZAMPALM. While the ink was still drying following this acquisition, we learned through zambia24.com that their CEO Mateyo Kaluba (MK) had announced to a Parliamentary Committee on Parastatal Bodies chaired by Msanzala Member […]
Financial Insight Zambia is saddened by the loss of life and prevailing outbreak of Cholera in our cities. Lusaka by statistics has been hardest hit by the epidemic and questions have arisen from many quarters as to what the solutions could be. Data coming in shows that the pandemic has affected more that 2000 of […]
In October of 2017 the Competition and Consumer Protection Commission (CCPC) board of commissioners fined Zambia Sugar PLC the sum of K76,728,650 which is 5% of their annual turnover as at 2013 as reported on the CCPC website. This came about as a result of price discrimination and what they (CCPC) found to be unfair […]
In a year that was marred with numerous endogenous and exogenous forces, Zambeef weathered a storm that ultimately came to bear as the company only saw revenues increase by 2.48%. Sentimental performance shows that retail sales revenue increased by 27.3%. The Zambeef Macro and Outlet stores saw 18.2% growth in sales. CCFP volumes increased by […]
When UK’s development finance house, CDC Group, made the acquisition of 17.5% of Zambeef last year for $65m not only was it a positive statement about the reason why Zambia had become an idea investment destination but was a testament to the value creation potential they saw in the farm to shop company. With operations […]
On the 9th of November 2017, Mwansa Mutimushi (Company Secretary) released through SENS announcement, the 5 month audited financials by order of the Zambia Sugar Board. FiZ has been monitoring the performance of the company post project PAAR. Although shareholders would have been anxious to hear news of a dividend, we believe patience will have […]
Agriculture
