ZAMBEEF plans to raise US$55 million (€38m) via a listing on London’s alternative investment market (AIM) to bankroll the acquisition of three large farm holdings in the country.
The company’s public relations manager Justo Kopulande in an interview said the farms planned to be bought are under former Mpongwe ETC Bio-energy Limited.
Mr Kopulande could not, however, disclose details of the transaction saying the matter is subject to the Securities and Exchange Commission rules and approval.
According to information posted on www.indendepent.ie, once the acquisition of the three farms is done, Zambeef will control almost 100,000 hectares in Zambia.
The three farms extend over a total of more than 46,000 hectares.
Zambeef was co-founded by Francis Grogan, the company’s chief executive, and is one of the largest farming agribusinesses in Africa.
The group owns farms, abattoirs and retail shops in Zambia and had revenues of US$162 million in the 12 months to the end of last September.
Zambeef also has operations in Ghana and Nigeria.
“Zambeef will control almost 100,000 hectares in Zambia” How do you let a company acquire this much land? I think the government should regulate land acquisition and empower Zambian citizens with land as well.
The AIM being lower than the FTSE, i think that is more of a realistic target. I know nothing of Zambeef though, who the are what the stand for. How much they are worth, where their headquarters are and above all why they are making noise quietly in Great Britian. I wish them luck though. Thanks
Mashimba you are right, The country Bahrain has a total land area of about 752 km2 and zambeef wants to control 1000 km2. Are these numbers right?
I know very few bloggers will comment on this topic especially those from ………….party!
Jack zambia has 750,000 sq. km of land
thats 0.13% of Zambia’s land but could be a significant portion of arable land.
zambeef is a proudly zambian company they started as a small holdings back in the 1970/80’s this is great news for zambia we need more local companies like this to add value to maize surplus we’ve been achieving think these guys are planning on exporting more of there products through the expansion of there manufacturing facilities
@ truth …56% of zambia’s land is arable and less than 20%(7% in 2003) of that is currently used ……so a 1000km2 is still peanuts will also have a maize surplus now imagine if we farmed 50% of our land
Worth looking at this if you have some cash to invest.
I cant believe this, this zambeef gurus are owing such land in zambia? Do we have laws in this nation really?? Twapapa, lesa tutungululeni. where in this world would a company control such huge mass of land. This is crap, please someone has to correct this now!
Clearly you do not have much international knowledge on the farming throughout the world…Google Mato Grosso in Brazil, or farming in the Ukraine and you will see 1 million hectare farms of Soya Beans, Wheat and Maize operated by One company…Your comments make me wonder if your true love is for the development of Zambia !!!!
Zambeef is a solid company. Very well-managed and very profitable.
Zambeef as far as i know is listed on the Zambian Stock market,so all those complianing about land ownership are free to buy shares. This is a business model that works and creates more employement than what you get from the mines which are very capital intensive. This is the one of the best ways in which we can ensure that the headline economic growth figures we read about and that Musokotwane is so proud of, translate into genuine development.