Zambeef Products to invest $100m to implement expansion strategy
Zambeef Products, a cold chain foods and retail business, has announced an investment of $100 million over the next three to five years to implement an expansion strategy for its core operating units.
The Alternative Investment Market (AIM) listed company has 236 retail outlets in Zambia and West Africa. It is also among the largest suppliers of beef in Zambia.
According to Zambeef Products, its investment strategy is likely to boost the capacities of its various value chains as well as support small-scale farmers and small to medium-sized businesses, and other ancillary businesses.
The investment is likely to increase the row cropping capacity of Zambeef Mpongwe Farm by two times apart from delivering considerably enhanced production efficiency and capacity across the downstream food value chains.
Zambeef Products to invest $100m to implement expansion strategy. Photo courtesy of Zichrini from Pixabay.
Michael Mundashi SC — Zambeef Products board chairman said: “I am excited to be announcing an investment strategy of this magnitude, doubling the cropping capacity at a time when Zambia, Africa and the world need investments of this nature.
“The intended investment over the coming years entrenches our position as the number one vertically integrated cold chain food products and agribusiness company in Zambia and the region.”
“The last two decades have seen the Group significantly grow in the scale of our operations and I am excited at the next phase of growth. The management team is elated, and I am confident in their capacity to deliver the projects quickly and effectively.”
Zambeef Products said that the first crop from the expanded cropping operations is aimed to be planted in the 2023 winter with capacity upgrades to milling and processing facilities to be parallelly executed.