RNS Number : 2007H

Zambeef Products PLC

22 November 2022

Zambeef Products plc

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


Z ambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, announces the appointment of Mr. M'boo (John) Mumba as Chief Financial Officer (CFO) of the Company, effective 1 December 2022. It is also intended that M'boo will become a Director of Zambeef and join the Board subject to the satisfactory completion of the required AIM regulatory due diligence.

M'boo takes on the role, following the promotion of Faith Mukutu, to Chief Executive Officer (CEO) on 1 July 2022

M'boo joined the Zambeef Group in May 2020 as Project Manager before he took up the role of Group Head of Treasury and Administration. He has brought to the Company skills which combine industry, financial and banking experience of more than 16 years. He worked as CFO for Wild Life Conservation Society, before joining Standard Chartered Bank Zambia Plc where his last portfolio was at Director level in corporate banking. M'boo holds a Bachelor of Accounting degree and is an ACCA professional.

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

 Zambeef Products plc                                  Tel: +260 (0) 211 369003 
 Faith Mukutu, Chief Executive Officer 
 Mulwanda Sichula, Acting Chief Financial Officer 
 finnCap (Nominated Adviser and Broker)               Tel: +44 (0) 20 7220 0500 
 Ed Frisby/Abigail Kelly (Corporate Finance) 
 Tim Redfern/Barney Hayward (ECM) 
   Autus Securities Limited (Sponsoring Broker)       Tel: +260 (0) 761 002 002 
 Mataka Nkhoma (Broker) 

Notes to Editors

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-day million day-old chicks a year. It is one of the largest piggeries, pig abattoirs 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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(END) Dow Jones Newswires

November 22, 2022 05:00 ET (10:00 GMT)

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