Zambeef secures K570m IFC debt facility
Published On July 20, 2022 » 657 Views» By Times Reporter » Business, Stories
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By CHATULA KANGALI-
ZAMBEEF has entered into a K570 million debt facility with the International Finance Corporation (IFC) to partially finance its $100 million investment and double production at Mpongwe farms.
Zambeef will use the funds to upgrade its feed mill, animal housing, purchase new equipment and develop 1,000 hectares of irrigation land, among other activities.
According to the announcement posted by the Lusaka Securities Exchange Commission (LuSE), the project is expected to improve Zambeef’s value chain, which will result in the creation of almost 1,400 new jobs, expand tax revenue and support small-scale farmers and small and medium-sized businesses.

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