IDC is considering to purchase Chiawa Farm-Zambeef
Zambeef (AIM: ZAM), the fully integrated cold chain foods and retail business with operations in Zambia, Nigeria and Ghana, notes the recent media commentary in Zambia, which has included reporting of a confirmation by the government that the state-owned Industrial Development Corporation (IDC) Limited is considering a purchase and is currently undertaking due diligence.
Zambeef wishes to advise its shareholders that a sale has not taken place with respect to its Chiawa Farm. In the event that a successful offer for the farm is received, Zambeef will follow due process in terms of notifying the market and obtaining any relevant shareholder approvals as applicable.
Government disclosed that it had purchased Zambeef’s Chiawa Estate Farm in Kafue District at $13.5 million and handed it over to the Zambia National Service (ZNS) and Zambia Correctional Service (ZCS) for its management for crops.
Zambia National Service Commander Lieutenant General Maliti Solochi and Zambia Correctional Service (ZCS) Commissioner General FREDRICK CHILUKUTU announced the development when his team toured the farm.
This is a 8,658 hectare (21,419 acres) commercial and only 2000 hectares have been developed for commercial crops under irrigation.
Zambia’s mickey mouse government…
Here we are , seeing the Commanders of ZNS and ZCS commanders, respected service Chiefs, telling the country that the government has bought 8000 Hectares farm from Zambeef on 10th August…a few days later, Secretary to the Treasury on the Podium , no no the government hasn’t bought the farm….it’s IDC doing feasibility studies… meanwhile the Chief government spokesperson Cornelius Mweetwa and his Defense counterpart… are mute, zeee!!!! What is really going on? What can one believe?
This is the government we have… mickey mouse!
“Government disclosed that it had purchased Zambeef’s Chiawa Estate Farm in Kafue District at $13.5 million and handed it over to the Zambia National Service (ZNS) and Zambia Correctional Service (ZCS) for its management for crops”
Lets be factually correct. Government did not disclose. Emmanuel Mwamba shared this on this platform early this week. Again tge rumour mill walking back their lies after being caught lying.