In July 2022, Zambeef signed a ZMW 570.0 million (US$35.0 million) debt facility with the International Finance Corporation (“IFC”) to partially fund its Mpongwe Farm expansion of US$ 100.0 million that the company announced in June 2022.[6]
ZAMBEEF has urged Zambian farmers to invest in water harvesting from rivers and streams before it reaches Zambezi River where it was wasted in the Indian Ocean.
Zambeef said: “The weakening of the Zambian Kwacha against the USD by approximately 24%, increase in the cost of fuel by 19%, together with constrained electricity supply that started in July 2019 due to reduced electricity generation arising from the low water levels in the Kariba Dam, impacted not only the Zambeef group’s performance but also our customers spending power.”
ZAMBIA – Zambian Integrated cold chain food products and agribusiness company Zambeef, has of last year doubled the price it pays local pig farmers, in a bid to boost home-grown production and encourage more participation in the sector.