By John Chola

Zambeef Products Plc, Zambia’s largest food and agribusiness company, is preparing for a major turning point that could unlock growth, protect jobs and strengthen the country’s food security.

British International Investment (BII), the UK’s development finance institution and Zambeef’s largest investor, has backed a proposal that would see its special shares converted into ordinary shares — a move that simplifies Zambeef’s finances and positions the company for its next phase of expansion.

The decision now rests with independent shareholders, who will vote at an Extraordinary General Meeting on March 11, 2026.

If approved, BII’s shareholding would rise to about 59 percent, while Zambeef would remain publicly listed on the Lusaka Securities Exchange and London’s AIM market.

At the heart of the proposal is growth.

The conversion removes a long-standing financial burden that has held back Zambeef’s share price and limits its ability to pay dividends or raise new capital.

It also clears the path for fresh investment, regional exports and job creation.

Since BII invested US$65 million in 2016, Zambeef has doubled wheat production, expanded into poultry, dairy and stockfeed, and grown operating profits more than threefold.

Yet the company’s market value has not fully reflected this progress — something both Zambeef and BII believe can now change.

Zambeef Chief Executive Officer Faith Mukutu has described the move as a major milestone that strengthens the company’s long-term future and supports national food security.

BII, for its part, says it is foregoing significant financial value to back Zambeef’s growth and benefit all shareholders.

For investors and consumers alike, the March vote could shape the future of one of Zambia’s most important food producers — and signal confidence in the country’s agribusiness potential.