FOR IMMEDIATE RELEASE 12 November 2013
Zambeef Products Plc
("Zambeef" or the "Company")
ZAMBEEF CEO WINS ALL AFRICA ENTREPRENEUR OF THE YEAR AWARD
Zambeef, the fully integrated agri-business with operations in Zambia, Nigeria and Ghana, is pleased to announce that Francis Grogan, CEO of the Company, was awarded the prestigious Entrepreneur of the Year 2013 accolade at the All Africa Business Leaders Awards ("AABLAs") ceremony in Durban on Friday 8 November 2013.
The AABLAs are the premier business awards on the continent. The vision for the AABLAs is to identify and honour those leaders who are making a significant difference to the companies, industries and communities they serve.
"Zambeef is the epitome of a successful African enterprise. Francis Grogan and his team have built the company from scratch over the last 20 years into a flourishing business that continues to grow and innovate," said CNBC Africa Business Development Manager for Zambia, Debbie Baillie. "We are proud that the company has now brought the AABLAs to Zambia and put the country squarely on the map as an investment destination."
Mr. Grogan attributed Zambeef's success to Zambia's macro-economic stability, pointing to the strong GDP growth resulting in rising consumer demand, single-digit inflation, stable exchange rates and reducing interest rates.
He emphasised that managing a company such as Zambeef was about teamwork and he praised the company's 5,500 staff and managers for their professionalism, adding that Zambeef is a local company established in Zambia 20 years ago that grew from humble beginnings into a household name.
Zambeef has its origins in 1994 when Mr. Grogan and Zambian partner Carl Irwin began building the company from a small butchery business with 60 employees into a K1.6 billion food processing and agribusiness conglomerate that is now listed on the London and Lusaka stock exchanges.
The Company's net assets grew more than 15-fold from K52 million when listing in 2003 to K807 million in 2012, and turnover increased from K165 million to K1,554 million over the period.
Zambeef's vision is to be the most accessible and affordable quality protein provider in the region. Its vertically integrated operation produces, processes and sells beef, chicken, pork, milk, dairy products, eggs, edible oils, stock feed, flour and bread. It has 118 retail outlets and three wholesale outlets across Zambia.
The Company grows approximately 8,350 hectares of maize, soya beans and wheat under irrigation, with a further 8,650 hectares of rain-fed/dry-land crops available for planting each year.
It slaughters more than 80,000 beef cattle and 6 million chickens, and processes 8 million litres of milk per year.
Zambeef is also rolling out its West Africa expansion in Nigeria and Ghana, as well as developing a palm project in Zambia.
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For further Information, please contact:
Zambeef Products plc Tel: +260 (0) 211 369003
Francis Grogan, Chief Executive Officer
Strand Hanson Limited Tel: +44 (0) 20 7409 3494
James Spinney
Panmure Gordon Tel: +44 (0) 20 7886 2500
Callum Stewart
Ben Roberts
Buchanan Tel: +44 (0) 20 7466 5000
Mark Edwards
Sophie McNulty
www.buchanan.uk.com
Images of Francis Grogan are available on request from Buchanan.
