Zambeef Expn

completed

Zambeef Products PLC (“Zambeef” or the “Company”) is one of the largest agri-business companies in Zambia and the Southern African Development Community (SADC) region, involved in the production, processing, distribution and retailing of beef, chicken and eggs, pork, dairy products, edible oils, stock feed, flour and bread. The Company, which continues to grow through organic expansion and acquisitions, was successfully listed on the Alternative Investment Market of the London Stock Exchange in June 2011. In the same year, the Company acquired Mpongwe Farm in northwestern Zambia. Zambeef has also been listed on the Lusaka Stock Exchange since February 2003. The Company continues to roll out its West Africa expansion in Nigeria and Ghana, as well as developing its palm oil project in Mpika, Zambia.The IFC investment (the “Project”) is to assist Zambeef with its three year developmental capital expenditure plan, including: 1) upgrading and expanding the Zamanita edible oils plant; 2) post acquisition expansion and upgrading of Mpongwe farm, including conversion of at least 500ha of rain-fed to irrigated to increase soya & wheat production; 3) expansion of processing capacity at Masterpork, dairy plant and poultry; and, 4) a new ruminants plant at Novatek feed mill in Lusaka. Zambeef’s operations include: Farming Division – Huntley, Sinazongwe, Chiawa and Mpongwe, and Palm oil plantation in Mpika; Meat and Dairy – beef feedlots and abattoirs, chicken broilers and abattoirs, chicken layers, Kalundu dairy farm, and piggery and pig abattoir; Manufacturing/Processing Division – Zamanita edible oils plant, Novatek stock-feed plant, leather and shoe plant, flour mill and bakery, and meat and dairy processing plants;Retail Division – Zambeef outlets, Shoprite butcheries, Zamchick Inns, wholesale depots, and transport and distribution. During the appraisal, the following Zambeef’s Zambia operations were visited: Mpongwe Estate in Ndola; Zambeef retail outlets in Kapiri, Kabwe and Lusaka; Huntley (Chisamba) Farm – the Company’s largest agro-processing complex - and Kalundu dairy farm; Zamanita – edible oils processing plant and Novatek stock feed plant in Lusaka; and Masterpork slaughter and processing facility on the outskirts of Lusaka.