Directorate Change

RNS Number : 0499X

Zambeef Products PLC

21 April 2023

 

Zambeef Products plc

("Zambeef", the "Company" or the "Group")  

CHANGE IN DIRECTORATE

Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, announces the appointment of Mr. Muyangwa Muyangwa as Non-Executive Director, with effect from 21 April 2023.

Mr. Muyangwa holds a Master's degree in Business Administration from the University of Bath in the United Kingdom and a Bachelor's degree in Business Administration from the Copperbelt University, Zambia. He brings to the board vast experience gained from a career that spans over 30 years in the financial and fiscal sectors.

Mr. Muyangwa is currently the Director General of the National Pension Scheme Authority (NAPSA), Zambia, and a Non-Executive Director of ZCCM Investments Holdings Plc. Before that, he served in various positions at the International Monetary Fund (IMF), including as a Senior Economist at the IMF - Headquarters, Washington DC, and as Technical Assistance Advisor and Revenue Administration Advisor in East Africa and West Africa, respectively. Before joining the IMF, he worked for Zambia Revenue Authority (ZRA).

The board is pleased to welcome Mr. Muyangwa Muyangwa and is confident that he will add immeasurable value to the Company.

For further information, please visit www.zambeefplc.com or contact:

Zambeef Products plc	Tel: [phone]
Faith Mukutu, Chief Executive Officer
M'boo Mumba, Chief Financial Officer
finnCap (Nominated Adviser and Broker)	Tel: [phone]
Ed Frisby/Abigail Kelly (Corporate Finance)
Tim Redfern/Barney Hayward (ECM)
Autus Securities Limited	Tel: [phone]
Mataka Nkhoma

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

Full name:	Muyangwa Charles Muyangwa
Age:	57
Shareholding in the Company:	Mr. Muyangwa is Director General of the National Pension Scheme Authority (NAPSA) in Zambia. Mr. Muyangwa sits on the NAPSA board as a non-voting member and does not sit on the NAPSA investment committee. NAPSA holds 24,797,819 ordinary shares in the Company, representing approximately 8.2% of the Company's issued ordinary share capital.
Current directorships and partnerships:	M & N Capitol Limited National Pension Scheme Authority (NAPSA) ZCCM Investments Holdings Plc
Historic directorships and partnerships in previous 5 years:	None

There is no further information to be disclosed in relation to the director appointment pursuant to Rule 17 and Schedule 2, paragraph (g) of the AIM Rules.

About Zambeef Products PLC

Zambeef Products plc is the largest integrated cold chain food products and agribusiness company in Zambia and one of the largest in the region, involved in the primary production, processing, distribution and retailing of beef, chicken, pork, milk, dairy products, fish, flour and stockfeed, throughout Zambia and the surrounding region, as well as Nigeria and Ghana.

It has 236 retail outlets throughout Zambia and West Africa.

The Company is one of the largest suppliers of beef in Zambia. Five beef abattoirs and three feedlots are located throughout Zambia, with a capacity to slaughter 230,000 cattle a year. It is also one of the largest chicken producers in Zambia, with a capacity of 8.8m broilers and 22.4 million-day-old chicks a year. It has the largest pig abattoir and pork processing plants in Zambia, with a capacity to slaughter 75,000 pigs a year, while its dairy has a capacity of 120,000 litres per day.

The Group is also one of the largest cereal row cropping operations in Zambia, with approximately 7,787 hectares of row crops under irrigation, which are planted twice a year, and a further 8,694 hectares of rainfed/dry-land crops available for planting each year.

 

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