Government Hails Zambeef Investment

Government says Zambia’s improving economic stability is now driving real investment and growth, with companies such as Zambeef leading value addition, job creation and lower prices for consumers.

Minister of Commerce, Trade and Industry, Chipoka Mulenga stressed that sustained stability in key economic indicators has created confidence for businesses to invest, expand and pass on benefits to consumers.

Speaking during a media engagement in Lusaka today, Mr Mulenga described Zambeef’s recent investment decisions as a practical demonstration of how a stable economy can stimulate local manufacturing, job creation and affordability.

The media reports that Mr Mulenga highlighted Zambeef’s investment in leather processing, which is transforming animal hides that were previously wasted into finished products such as shoes, creating jobs and strengthening domestic value chains.

“Instead of exporting raw hides or letting them go to waste, value is now being added locally. This is exactly the type of investment Zambia needs,” he said.

He stressed that economic growth will only be meaningful if consumers feel the impact in their daily lives, noting that lower production costs must be reflected in affordable food and essential goods.

And Zambeef Products Plc has announced a series of price reductions and consumer promotions aimed at easing the cost of living, improving access to affordable food and supporting Zambia’s drive towards a healthier and food-secure nation.

 Zambeef Chief Executive Officer (CEO), Faith Mukutu said the promotions form part of the company’s broader local production and economic empowerment strategy, which prioritises consumers, job creation and sustainable development.

Among the key products announced is a 10 percent reduction in leather shoe prices, a move that goes beyond the company’s traditional back to school promotions.

The reduction is a permanent price adjustment intended to make locally manufactured products more affordable while supporting domestic industry and employment.

In the livestock and food production sector, Zambeef has reduced day-old chick prices by 5 percent effective 1 January, a decision expected to benefit small-scale and commercial poultry farmers.

To further support poultry production, the company has also cut animal feed prices between 3 and 5 percent, helping farmers’ lower production costs and increase output.

Ms Mukutu explained that these pricing decisions are designed to stimulate productivity across the value chain, from farmers to consumers, ultimately leading to increased availability of affordable protein foods such as chicken, which are essential for good nutrition and public health.

The company will also roll out additional monthly and quarterly promotions, encouraging households to take advantage of reduced prices on key food products.

Meanwhile, Zambia Association of Manufacturers (ZAM) President, Omar Mohammed disclosed that the manufacturing sector has attracted close to US$5.5 billion in actualised investment, accounting for 37 percent of total investments outperforming mining, transport and the services sector.

Mr Mohammed described the development as a clear endorsement of the Government’s policy direction and sustained engagement with the private sector, particularly through budget consultations and economic reform dialogues.

“This is a strong signal that Zambia’s industrialisation strategy is working and that investor confidence in domestic production is steadily growing,” he said.

 ZAM President has since commended Zambeef Products Plc, for the reductions on selected locally produced goods.

He noted that the announcement comes at a time when manufacturers are beginning to experience relief from long-standing operational pressures, citing relative fuel price stability, improved power supply reliability, and a more predictable exchange rate environment.

And Zambia Chamber of Commerce and Industry (ZACCI) Acting Chief Executive Officer (CEO), Emmanuel Mumba said Government’s recognition of the private sector as a strategic partner in economic growth, job creation and innovation is now being reflected through targeted reforms across critical sectors of the economy.

“These are not cosmetic reforms, they are structural interventions that are changing how businesses operate and invest,” Mr Mumba said.

Mr Mumba has since commended Zambeef Products Plc for responding to the improving economic environment by reducing prices on selected locally produced goods, describing the move as evidence that reforms can directly benefit consumers.

“This is what success looks like when policy reforms translate into affordable products, improved welfare, and real impact on the lives of Zambians,” he said.