The funding will enable Zambeef to double its production capacity and enhance efficiency across its value chains, including crop farming, animal feed, grain processing, flour production, livestock rearing, and meat processing.

This investment is expected to strengthen food security not only in Zambia but across the Southern Africa region.

Zambeef, one of Southern Africa’s largest integrated food producers with cold-chain operations, plans to use the support to improve current infrastructure and broaden its operations.

The initiative is also projected to boost Zambia’s economic output and generate new jobs and business prospects.

Currently, Zambeef runs 236 retail outlets and contributes about 1% to Zambia’s gross domestic product.

It is a key employer and operates across the full agricultural chain—from production and processing to retail—dealing in beef, poultry, pork, dairy products, eggs, flour, and animal feed, serving Zambia and neighboring countries.

“This support for Zambeef highlights our commitment to working with the Zambian government to encourage greater private sector involvement in agriculture—especially efforts that create employment for youth and women,” said Raubil Durowoju, AfDB’s Country Manager for Zambia. “Using local currency for this guarantee also helps promote financial stability within Zambia.”

The guarantee backs a loan of approximately $25 million from Stanbic Bank Zambia, along with up to $7 million set aside to cover interest payments and related expenses.

The arrangement allows Stanbic to provide funding while the AfDB assumes the credit risk, showcasing an innovative way of raising local currency finance.

Launched in 2023, the five-year expansion initiative is expected to result in around 1,398 direct jobs and up to 243,000 indirect employment opportunities.

It also aims to support over 86,000 local farmers, contract growers, and small enterprises by improving their access to both Zambian and regional markets.

The project is aligned with Zambia’s Eighth National Development Plan (2022–2026), the AfDB’s 2024–2029 Country Strategy Paper for Zambia, and the Bank’s broader 2024–2033 Ten-Year Strategy, including the flagship “Feed Africa” and “Industrialize Africa” development goals.