Zambeef Products PLC, a Zambian company listed on the Lusaka Securities Exchange and the AIM Market of the London Stock Exchange, has announced a group restructuring aimed at streamlining its operations across its six Zambian entities. The restructuring is expected to eliminate unnecessary complexities and duplications of business processes and will take at least six months to complete. Following the restructuring, Zambeef Retailing Limited (ZRL) and Master Pork Limited (MPL) are expected to become dormant subsidiaries of the company. There will be no changes to the company's overseas subsidiaries, Master Meats (Nigeria) Ltd and Master Meats (Ghana) Ltd.
In addition, the company's Nominated Adviser and Broker on the AIM Market, finnCap Ltd, has changed its name to Cavendish Capital Markets Ltd following a corporate merger. Zambeef Products PLC is the largest integrated cold chain food products and agribusiness company in Zambia and one of the largest in the region. It is involved in the primary production, processing, distribution, and retailing of various food products, including beef, chicken, pork, dairy products, fish, flour, and stock feed. The company operates 236 retail outlets throughout Zambia and West Africa and has a significant presence in Nigeria and Ghana.
Zambeef Products PLC is a major supplier of beef in Zambia, with five beef abattoirs and three feedlots across the country. It is also one of the largest chicken producers in Zambia and has the largest pig abattoir and pork processing plants in the country. The company's dairy has a capacity of 120,000 liters per day. Additionally, Zambeef Products PLC operates one of the largest cereal row cropping operations in Zambia, with approximately 7,787 hectares of irrigated crops and a further 8,694 hectares of rainfed/dry-land crops available for planting each year.
The company's group restructuring is expected to enhance operational efficiency and streamline decision-making processes. The changes will not affect the company's overseas subsidiaries, and the company's Nominated Adviser and Broker on the AIM Market has changed its name to Cavendish Capital Markets Ltd.