ZAMBEEF Group wants to sell off its farms in Chiawa and Sinazongwe to help the group operate effectively.
The agri-business firm has entered into a binding sale and purchase agreement (SPA) with Chenguang Biotech Zambia Agri-Dev Limited (Chenguang) to sell the Sinazongwe farm at a cost of US$10 million.
Chenguang Zambia, which is a subsidiary of the Chenguang Biotech Group Company Limited based in China, is listed on the Shenzhen Stock Exchange with 22 subsidiary companies.