Zambia Sugar
 |
|
| Public | |
| Traded as | :ZSUG |
| Industry | Agriculture |
| Headquarters | Mazabuka, Zambia |
|
Area served
|
Zambia, Africa |
|
Key people
|
Rebecca Katowa (Acting Managing Director) |
| Products |
Sugar Sugar marketing |
| Revenue | 1.78b ZMW (2014) |
|
Number of employees
|
1,950 permanent (4,300 average 2014 including seasonal) |
| Website | Homepage |
Zambia Sugar Plc, is a company based in Mazabuka, Southern Province, Zambia and is the largest sugar producer in Zambia. The company is listed on the (symbol: ZSUG) with 82% of the shares held by Illovo Sugar Limited of South Africa (a subsidiary of Associated British Foods) and the balance by institutional and private shareholders in Zambia.
Zambia Sugar Plc owns and operates the Nakambala Sugar Estate, the largest sugar operation in Zambia
The Nakambala Sugar Estate was founded in 1964 by Tate & Lyle Ltd on the south east edge of the Kafue Flats at Mazabuka. By 1968 the estate was growing sugar cane on 1,680 hectares using irrigation water from the Kafue River and the sugar mill which had been moved from Tate & Lyle's failed sugar operation at Chirundu. By 1976 the estate was producing 68,000 tonnes of sugar from 6,650 hectares and by 1983 production had risen to over 90,000 tonnes of refined sugar from 9,000 hectares under cultivation.
Development of the Nakambala estate was funded by Tate & Lyle in conjunction with the Zambian Government through the Industrial Development Corporation (IDC). In 1973 the Zambia Sugar Company Ltd, which operated the estate, was nationalised and IDC came to hold 51% of the shares in the company with Tate and Lyle being retained as managers. By 1984 the company was 80% owned by IDC and 11% by Tate & Lyle with the balance being held by private investors.
In 1994 Zambia Sugar Company Ltd was repurchased by Tate & Lyle along with the Commonwealth Development Corporation (CDC) as part of the ongoing Zambian privatisation program. In 1996 the company floated on the becoming Zambia Sugar Plc.
In 2001 Tate and Lyle sold its interest in Zambia Sugar Plc to Illovo who then held 89% of the company. By this time production was 209,000 tonnes of sugar.
Between 2007 and 2010 the company implemented a major expansion program and increased the area in production from 11,000 hectares to nearly 17,000 hectares and by 2010 production reached 385,000 tonnes.
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Wikipedia