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June 19, 2011

UK-listed Zambian agri-concern to raise funds for expansion

by Andrew Johnson

Zambeef, the first Zambian company to float on London's AIM, is planning to join the market in a listing which will help it raise £34million.

Zambeef Products is a “farm to fork” company involved in growing, processing, distributing and retailing almost everything from beef to bread, oils to eggs and pork to chickens. Using broker Renaissance Capital, the float will take place later this month.

The money will be used to buy 123,550 acres of prime farming land in Zambia, currently owned by ETC Bio-Energy. Zambeef, which also has operations in Ghana and Nigeria, wants to limit its exposure to commodity prices and “erratic supply chains.”

full article...Express

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