British International Investment is seeking a controlling interest in Zambeef Products Plc by converting its existing preference shares into ordinary shares, according to Reuters.
The conversion would involve 100,057,658 preference shares issued to BII in 2016, raising its voting rights from approximately 35 percent to around 59 percent, effectively giving the UK investor majority control if shareholder and regulatory approvals are secured.
Zambeef, Zambia’s largest integrated food company, operates across livestock, dairy, poultry, crop production and retail, employing roughly 7,000 people. Its diverse portfolio includes meat, milk, fish, edible oils and bakery products, making it a cornerstone of Zambia’s agribusiness sector.
The move reflects BII’s strategic approach to long-term capital investment in Africa, aimed at scaling key local industries while supporting development objectives, CNBC Africa noted. The proposed conversion aligns governance with BII’s deeper involvement and could unlock new growth opportunities for Zambeef, following years of minority participation that helped fund the company’s expansion.
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