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Alba Iulia
Tuesday, January 18, 2022

Zambia Sugar Dismisses Story of being part of Companies Funding PF

Feature Politics Zambia Sugar Dismisses Story of being part of Companies Funding PF

Zambia Sugar PLC has dismissed the story published by the Zambian Watchdog alleging that the company, together with Shoprite, Indo Zambia Bank, and other corporates have pledged about $10 million funding to the opposition Patriotic Fron (PF) by running expensive adverts in PF aligned newspapers.

In a statement released to the media, Zambia Sugar said that the Company is apolitical and cannot engage itself in the matter that was referred to in the Zambia watchdog.

Below is the full statement

Press Release

Nakambala, 5 November 2021: An article appeared on 4 November 2021 in an online publication accusing the Company of engaging in political activity. The Company distances itself from this article.

Zambia Sugar Plc is a public listed company listed on the Zambian Lusaka Securities Exchange (LuSE). Its parent Company, Illovo Sugar Africa, is Africa’s leading sugar producer. Zambia Sugar’s ultimate parent company is Associated British Foods (ABF) which is also listed on the London Stock Exchange.

Therefore, the Company always operates according to a high set of governance standards ensuring at all times that there is no risk to the reputation of not only Zambia Sugar but Illovo and ultimately ABF. In this regard, we wish to state that Zambia Sugar is apolitical and cannot engage itself in the matter that was referred to in the article with the above-captioned matter appearing on your site and dated 4 November 2021.

Zambia Sugar remains committed to upholding all Illovo and ABF Group Code of Business Conduct and other group guidelines. This includes the procurement of media advertising services in accordance with company procurement policies and procedures.

Therefore, the Company continues to conduct itself in a manner that does not create a reputational risk to itself and/or its shareholders.

In this regard, the Company hereby distances itself from the article. The Company further requests the Media to check with its Media Relations team for the facts first before publishing any stories on Zambia Sugar.  In the interests of fair and professional journalism, the Company has requested the publication to issue a follow-up article to correct the facts as Communicated to them.

Zambia Sugar Plc remains committed to working with the Government for the benefit of its consumers, shareholders, local communities, and all other stakeholders for the long haul.

26 COMMENTS

  1. What would the report be like if these entities were reportedly funding the ruling party? We must grow up now. Let’s develop a new politics. Take advantage of a president who is promoting a mindset shift. FFS.

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  2. Deja Vu – This is why I always call you out as a PF sympathiser but you masquerade as some objective blogger on LT, Do you not know that Zambia Sugar PLC is a public listed company of course there is everything wrong with that if they did it.

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  3. I dont know why even Zambia Sugar is responding to such farfetched stories …yes they are public listed company and have a right to respond, furthermore if they did it auditors would pick it up!!

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  4. #5 Tarino what’s so PF in my comment? It appears PF scares the sh!t out of you day and night? I want fair play…if Upnd got money from multinationals why can’t another Political party do the same. Explain to everyone here where my comment makes me PF. In any case I am free to belong to any party if I decide to engage in partisan politics. When PF was in power you cried for this FREEDOM and now you are in power you don’t want others to have it. I wonder what you do in whatever hole you are stuck.

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  5. Well Zambia Sugar is a public listed company and should not do that. “Shoprite” Close them and let them go back to their country, we will bring back ZCBC. Indo Zambia: Indian not really native Zambian. Deport them to their dirty India. Moreover these foreign companies exploit our economy and Shoprite is known for before funding Apartheid.

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  6. They are a listed company so they could ve easily sued of story was untrue but for them to jump back to the same media they are firing shots at, raises a few questions.

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  7. Ba PF bainyelezi mwa maputula kufelile! Neba kunyaya kwateni swikili kapa kayuwe hakuna tuso, kwa malaho abona ku bolile tikwaaaaa!

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  8. #8  Deja Vu 
    November 6, 2021 At 9:35 am

    “…….. I want fair play…if Upnd got money from multinationals why can’t another Political party do the same. ……..”

    Do you have the proof that UPND got money from multinationals ?????

    Or are you reliying on lungus statement that HH asked for $300,000 ??????

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  9. #15 Spaka you can say what you want because that’s what you are. To start with how possible is it that a company with GRZ shares can fund an opposition party? Simple logic says it’s not possible, someone just wants someone to be fired. But not entirely impossible in that one DC used to campaign for the opposition especially among the people in periurban areas.

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  10. Deja Vu – Your answer says it all…you are saying if UPND was allegedly receiving funding from Private International companies it okay for PF do it from PLCs through inflated commercial ads through PF owned media. And there is no one stopping you aligning yourself with any party but dont pretend to be objective if this was the now ruling party being accused of this you would have come out guns blazing.
    And Yes…the name PF conjures up memories of lawlessness, caderism, corruption, tribalism, reckless borrowing, incompetent ministers and President who can not be entrusted with a kids school Tuckshop…yes the name PF scares the $%^& out of me I fear for my country!!!!!!!!!!!!!!!!!!!!!!!!!!

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  11. We voted him … – Who are they going to sue at ZWD? Its a faceless organisation operating on social media …its only a matter of time before it too turns its turret on the ruling party. The solution to ZWD is simple …just be transparent and accountable.

  12. I don’t like this monster arising and being nurtured in our beloved country , this is evil is moving over above our heads from this hatred filled and wicked evil prince of the air, it is quickly captivating the minds of most Zambians especially those in the ruling party, I’m talking about witch-hunt this disease if it is not not nipped in the bud could bring un told problems in this nation.
    The industry must be left alone from politics, politicians are corrupt and want to corrupt anything that comes near them and end result is death , what I would say is leave the industry independent from interference the country needs them to run as independent entities and grow the economy.

  13. #17 Tarino. How can one pretend to be objective. It’s either you are objective or not objective. So you want us to clap for Upnd even when someone pharts?

  14. Deja Vu – ZWD isn’t News Diggers Newspapers that has a physical address…who are you going to address it to?

  15. #24 Tarino ..two wrongs don’t make a right. PF was removed because of doing wrong things and if you justify your wrongs because PF did them too, then the change of government was meaningless.

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