ZAMBIA SUGAR REAFFIRMS COMMITMENT TO ITS INVESTOR COMMUNITY

Zambia Sugar has reaffirmed commitment to transparency and strengthening partnerships with its investor community through continued mutual engagements that foster improvement.
Managing Director, Mr. Oswald Magwenzi, made the remarks during a recent annual Shareholder Day, with the company opening its gates to 453 shareholders to the Nakambala Estate in Mazabuka.
The attendees who formed 11% of the company’s 4,059 shareholders, toured part of the 32 000-hectare estate and the factory, the largest single sugar cane mill in Africa.
They were also taken through various major projects underway, including the K1.7 billion Twazabuka packing and warehousing facility, the Turbo Alternator 6 project, and the latest efficient irrigation projects including the surface and subsurface irrigation projects that aim to reduce the Company’s water footprint.
The visit further gave shareholders direct access to the Company’s Executive Leadership and a chance to see its operations first-hand.
Mr. Magwenzi appreciated the role of the company’s shareholders, describing them as partners in the long-term growth of the business.
Zambia Sugar Finance Director, Mr. Hezron Musonda, expressed satisfaction with the manner the company has stayed resilient during a difficult operating environment.
He pointed to high electricity and fuel costs linked to ongoing global geopolitical conflicts as challenges affecting operations.
Meanwhile, Mr. Musonda further stated that Management welcomes a shift in the profile of the Company’s shareholders, with more young people investing in the Zambian capital markets and effectively becoming owners of capital.