National Pension Scheme Authority (NAPSA) Director General Yollard Kachinda has been named as one of three new non-executive directors on the board of Zambeef Products, highlighting the company’s diverse Zambian ownership structure.
Lawyer and former Director General of the Zambia Information and Communications Authority Margaret Kunda Chalwe-Mudenda and prominent Zambian academic Enala Lyson Tembo-Mwase have also joined the board of the country’s leading cold chain food processor and retailer.
Kachinda’s appointment as NAPSA’s representative on the Zambeef board recognises NAPSA as Zambeef’s biggest local shareholder, owning 25 million shares amounting to 8.3 percent of the company. As a result of NAPSA’s shareholding, thousands of people across Zambia have a stake in the success of Zambeef and own shares in the group through their pension funds.
In welcoming the three new directors to the board, Zambeef Chairman Dr Jacob Mwanza said: “We are a deeply rooted Zambian company and the country’s success is our success and vice versa. The fact that most pension funds in the country are shareholders of the company only goes to show just how deep those roots go with every working Zambian having a vested interest in Zambeef.”
Zambeef’s shareholding structure demonstrates the company’s commitment to growing the local agribusiness and retailing industries, making it possible for every working Zambian to participate in the company’s business of feeding the nation.
The appointment of the three new non-executive directors is a move aimed at broadening the depth of experience and diversity present on the company’s Board of Directors.
The company has further announced the resignation of Graham John Clark as a non-executive director with immediate effect in order to take up the full-time role of Chief Executive Officer of Fiji Sugar Corporation. Dr Mwanza thanked Mr Clark for his contribution to the Company wishing him the best in his new role.
“I would like to thank Graham for his contribution to Zambeef since he was appointed to the Board. Graham’s extensive business experience has been greatly appreciated. On behalf of everyone at Zambeef I would like to wish him the very best in his new role. I also take this opportunity to welcome the three new non-executive directors to the Board of Zambeef. I believe they all bring highly relevant experience and skills which will be of significant value in supporting the growth of Zambeef at this exciting stage of development,” he said.
Kachinda is Director General of the National Pension Scheme Authority and has overall responsibility for, and oversight of, the day-to-day running of the pension scheme, as mandated by the Board of Trustees. Mr Kachinda studied mathematics and statistics at the University of Zambia and has a Masters degree in Social Protection Financing from Maastricht University.
Chalwe-Mudenda is a lawyer. She previously worked as a legal practitioner from 1996 to 2009, during which time she was also employed by the Zambia National Commercial Bank Plc (ZANACO) as in-house counsel between 1999 and 2004. Since 2010, she has been Director General of Zambia Information and Communications Authority (ZICTA).
Prof Tembo-Mwase is a prominent Zambian academic. She currently serves as an associate professor of parasitology at the University of Zambia. In addition, she is the University of Zambia’s Deputy Vice Chancellor, and briefly served as the university’s acting Vice Chancellor between 2015 and 2016. Ms Tembo-Mwase has a Bachelor of Science degree specialising in biological sciences from the University of Zambia and a Master of Science and Doctorate degree from the University of London.
“We look forward to having the three directors and forging ahead with business. We’re especially delighted at the fact that two of the directors are female,” said Dr Mwanza.
Zambeef is listed on the Lusaka Stock Exchange (LuSE), enabling the public to buy and trade its shares. In addition to NAPSA, other pension funds and institutions with investments in Zambeef include Saturnia Regna Pension Fund, Barclays Pension Fund, Bank of Zambia Pension Fund, Zambia State Insurance Company (ZSIC), KCM Pension Fund, Kwacha Pension Fund, the Workers Compensation Fund and Professional Life.