The Zambia Sugar team represented by the Corporate Affairs Director, Eugene Chungu, and Human Resource Director, Sharon Lima, paid a courtesy call, Tuesday, on the Minister of Labour and Social Security, Hon. Brenda Tambatamba, MP.

In addition to being an introductory meeting for Sharon, the delegation was pleased to update the Minister on the many developments taking place at the Company. We reaffirmed our Company’s unwavering commitment to compliance with all statutory requirements under the Ministry of Labour and Social Security’s mandate. The Minister along with the Acting Permanent Secretary, Mr Zechariah Luhanga, were pleased with the performance of the Company.

The Minister called on the Company to continue prioritising people at all times. They encouraged us to speedily address outstanding items including the need to expedite the resolution of outstanding NPF and NAPSA claims by former employees. We are resolute in our pursuit to a timely and equitable resolution to these matters, leveraging the existing measures that were now in place.

#ZambiaSugar#CorporateGovernance#StakeholderEngagement #

The post Zambia Sugar Reaffirms Commitment to Compliance in Meeting with Labour Minister first appeared on Zambia Sugar | A Member of ABF Sugar.

Cane supply up 8 %, Sugar production up 14%, Sales volume up 18%, Revenue up by 39% and Operating profit up 105%! We posted ZMW1.088 billion Profit After Tax (PAT), up from ZMW511 million earned in the six-month period ending February 2023.

This was mainly driven by increased domestic sales volume, with 145,997 metric tonnes of sugar supplied to the local market compared to 110,021 tonnes recorded in the corresponding period the previous year.

Total gross revenue was reported at ZMW3.26 billion during the six-month period, up from ZMW2.35 billion in the last half-year period.”

Announcing the Company’s Half-Year results, Thursday, for the financial period ending 29 February 2024, Managing Director, Oswald Magwenzi, said the increase in profit was driven by improved domestic sales volume, despite significant cost pressure on key inputs and the depreciation of the Kwacha.

He said the additional sales volume sold in the domestic market demonstrated the adverse impact that illegal imports otherwise had on the Zambian market. Illegal imports deprive the country of payment of taxes, in addition to foregone employment opportunities. He explained that now that the region was experiencing a shortage of sugar, the country was able to estimate the inflows of these imports that the country would otherwise experience during the period under review.

Addressing stakeholders gathered at the Neelkanth Sarovar Premiere Hotel in Lusaka, Finance Director, Hezron Musonda, said that the Company had yet again delivered value to its shareholders and continued to make significant tax contributions to the national treasury, with the outlook remaining bullish.

Hezron further stated that the Company did not pass on all the costs that were incurred in the first six months but instead absorbed some of this demonstrating that the Company was committed to its vision of being the best at serving consumers.

Meanwhile, Oswald said the ongoing drought would have no impact on the Company’s full 2024 Financial Year results, but that the impact of the intermittent power outages would only be felt in the 2025 Financial Year.

He also announced that construction of “Project Twazabuka,” a US $65 million facility aimed at enhancing customer centricity, was due to commence at Nakambala Estate around September this year, following necessary approvals.

As Zambia Sugar Plc, we remain committed to supporting our out-growers, who collectively constitute around 50% of our cane supplies.

#ZambiaSugarHY2024Results#IllovoGroup

The post 2024 half year results, impressive amid strong headwinds first appeared on Zambia Sugar | A Member of ABF Sugar.

Illovo Sugar Africa Group Chief Executive Officer, Gavin Dalgleish, presented a Safety Award to Oswald Magwenzi, Zambia Sugar Managing Director, Tuesday 9 April 2024, at a ceremony held at the University of Pretoria’s Gordon Institute of Business Science (GIBS), Johannesburg.

The award was presented to Oswald in recognition of his safety leadership and the company’s safety performance during the period under review. This award is part of the ABF Sugar Safety Recognition Programme introduced to encourage and recognize excellent safety behaviour and performance of employees, teams, and operations across all ABF Sugar businesses worldwide.

ABF Sugar Safety Recognition programme includes quarterly and annual recognitions. There are three categories that are covered. Category one is where an employee or team is nominated per mill/operation that demonstrates consistent safety excellence. This award is presented on a quarterly basis.

Category two is for an operation or mill. The mill or operation per Business Unit (BU) is recognised for good safety culture and safety performance. The entity’s operational performance is linked to business safety Key Performance Indicators (KPI’s) and Safety Culture indicators.

Category three is for the Business Unit where one BU across the ABF Sugar Group is recognised for standout safety culture and safety performance. The BU performance is linked to business safety KPI’s and Safety Culture indicators.

Last November Zambia Sugar was recognised for safety leadership on the continent at the AfriSAFE conference held in Lagos Nigeria. This resulted in the selection of Livingstone, Zambia as this year’s venue for the hosting of the 2024 AfriSAFE Congress scheduled for 7-8 November 2024.

The post We continue to demonstrate safety leadership within the Group and in our markets first appeared on Zambia Sugar | A Member of ABF Sugar.