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ZAMBEEF Exports Help Boost National Earnings
LUSAKA, ZAMBIA – Zambeef Products looks set to generate record export earnings this year, making it one of the single largest foreign exchange earners for the country.
The agribusiness conglomerate, which is a member of the Zambia Development Agency’s (ZDA) elite Million Dollar Club of leading exporters, has already recorded export income of US$24.8 million (approximately K137 million) in the first nine months of this financial year to the end of June, and expects the final figure to exceed US$30 million (K193 million) by the end of this financial year.
Zambeef’s overseas sales make it among the largest exporters in the country, contributing around 1.5 percent of all of Zambia’s non-traditional exports of around K9.5 billion (US$1.7 billion).
The country’s total exports, including traditional metal exports, for the first six months of 2013 were K27.8 billion (around US$5 billion, according to the Central Statistical Office (CSO).
“Zambeef is a proudly Zambian company and its directors and management believe strongly in the importance of contributing to the nation’s economy in every way we can,” said Director of Strategy and Developments Carl Irwin. “Our exports are growing, and that generates foreign exchange flows for the country, in turn boosting Zambia’s economic fortunes, generating more tax for the government, and creating employment within the country.”
Mr Irwin stressed that as Zambeef is a Zambian company all of Zambeef’s income from exports are remitted back into Zambia in full, where all tax is paid on all earnings.
The group paid taxes of K85 million in the first nine months of this financial year.
A large proportion of Zambeef’s export earnings are generated by its Zamanita edible oils subsidiary and from its Novatek animal feeds and Zamleather divisions.
These export earnings exclude the operations of Zambeef’s two overseas subsidiaries operating in Nigeria and Ghana. These two subsidiaries , which are run by Zambian nationals, had a turnover of US$7.7m in the first six months of the financial year and are expected to exceed US$16m for the full financial year.
Posted by Admin
on August 27, 2013. Filed under BUSINESS, LATEST NEWS.
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mwamba mutale
August 27, 2013 at 11:07 am
Tapali ifyo twalaumfwa. Mwalikowesha abantu akale…just keep on saying sorry , not giving us figures you realised from the scandle. Twalifulwa mind you!!!
Kennedy
August 27, 2013 at 11:13 am
Good. Thanks for the data. You are a corperate citizen.
H H Muchende
August 27, 2013 at 11:17 am
And how many people are you expecting to embalm end of the year?
mali
August 27, 2013 at 12:11 pm
@HH MUCHENDE, yOU WERE BORN OUT OF THAT, YOUR FATHER AND MOTHER WERE VICTIMS OF THE SAME FOR YOU TO BE BORN, SATANYOKO AGAIN, TELL HER SO.THE HATE YOU HAVE IS FULL OF RUBBISH, WHY MENTION HH IN THIS ISSUE, YOU FAILURE, SON/ DAUGHTER OF A FOOL.
GET LOST *****.
H H Muchende
August 27, 2013 at 2:31 pm
May the almight Lord GOD the creater of heaven and earth bless you. if you know that what you have just written is good for I did not insulted you or your parents.
swine
August 27, 2013 at 4:24 pm
This goes to show just how shallow your mind is, did the guy mention HH..is ka HH the the one feeding you and your clan you stu.puid fellow?
Mwana Ndola
August 28, 2013 at 9:14 am
I have reasons to believe for you (Mali) that’s just another day at the office for you, times are changing i urge to grow up while you still can.
H H Muchende
August 28, 2013 at 11:12 am
MALI, Surely you can”t even asheme for yourself everyone is condemning you and no one is supporting you here. Remember what has been condemned here on earth, Heaven can”t support it.if you are wise enogh ask for forgivness. you still have last chance to repent for your sins.But if you think you are right remain the way you are. Remember this site is not like a phne were you can wrte direct to a person its a site for expressing developmental views and not insults for that difrent and respected people are loged on to this site.
KM
August 27, 2013 at 12:25 pm
Let us support Zambian enterprises which is able to employ thousands of citizens remember what happened to the ITM Group of Companies i.e Chibote Limited and the Meridien Group
Trixy
August 27, 2013 at 2:16 pm
I still have a lot reservations pertaining to Zambeef…Seriously! This is a situation of “Giving a dog a bad name and hanging it!!”
MundiaM
August 27, 2013 at 2:39 pm
Trixy, I concur with you. The export earnings may be increasing due to reduced consumption of Zambeef products locally. The people of Zambia are still riling from the betrayal of being fed Formaldehyde. This will not go away easily.
icinshikululwa
August 27, 2013 at 2:43 pm
You can’t kill us anymore, just wet you will pay. Jehovah is watching you.
longwe (AB 2)
August 27, 2013 at 3:10 pm
Carl, Grogan already embalmed us, what are you talking about?
Minister Without Portfolio
August 27, 2013 at 4:03 pm
@Mali are you not ashamed of yourself? Just read the response from wise HH Muchende. Remember this is not a platform for insults or name calling, but blog or debate, next time tone down
swine
August 27, 2013 at 4:26 pm
No!…next time that Mali fo.ol should not even open the Tumfweko web page later on blog..his blogs are fit for the gutter!
mike
August 27, 2013 at 4:31 pm
..an u think ‘HH MUCHENDE’ is wise? You must be an i.diot.
cozmokaojr
August 28, 2013 at 9:10 am
why are you here? go back to zwd where you are rewarded for insulting your elders.
swine
August 28, 2013 at 10:26 am
True that go back to your opiniated ZWD, where you think your ka party is famous! By the way is that site still accessible, I wonder?
MAN OF GOD
August 27, 2013 at 4:49 pm
MALI please if you realy know that you never came on this earth by yourself but there is someone who created you and is the one who is looking after your life.Apologise to HH Muchende for he did not insult you or your parent. Remember GOD is watching you.you can be clever with money here on earth but not in heaven.
Style Records International
August 27, 2013 at 5:26 pm
@MALI NA HH MUNCHENDE ilifye bwiino
mwamba mutale
August 27, 2013 at 6:19 pm
@Mali you should feel ashamed. What is posted on social network is mostly satire. Yo HH is not mentioned and there is no need for you ukwamba ukubosa kwati nimbwa yabindula. Grow up young chap and find a better way of pleasing yo ‘king’HH
icinshikululwa
August 27, 2013 at 8:49 pm
Cili shani kanshi,? Ilyashi nalicinja? Nashalilako apa, y are u quarraling and insulting?