RNS Number : 0499X

Zambeef Products PLC

21 April 2023

Zambeef Products plc

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


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: +260 (0) 211 369003 
 Faith Mukutu, Chief Executive Officer 
 M'boo Mumba, Chief Financial Officer 
 finnCap (Nominated Adviser and Broker)     Tel: +44 (0) 20 7220 0500 
 Ed Frisby/Abigail Kelly (Corporate 
 Tim Redfern/Barney Hayward (ECM) 
   Autus Securities Limited                 Tel: +260 (0) 761 002 002 
 Mataka Nkhoma 


Full name:               Muyangwa Charles Muyangwa 
Age:                     57 
Shareholding in the      Mr. Muyangwa is Director General 
 Company:                 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    M & N Capitol Limited 
 and partnerships:        National Pension Scheme Authority 
                          ZCCM Investments Holdings Plc 
Historic directorships   None 
 and partnerships in 
 previous 5 years: 

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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(END) Dow Jones Newswires

April 21, 2023 08:00 ET (12:00 GMT)

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