{"id":27284,"date":"2022-07-22T22:17:44","date_gmt":"2022-07-22T22:17:44","guid":{"rendered":"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou"},"modified":"2022-07-22T22:35:17","modified_gmt":"2022-07-22T22:35:17","slug":"international-finance-corporation-zambeef-sign-a-35-million-mou","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou","title":{"rendered":"International Finance Corporation, Zambeef sign a $35 million MoU"},"content":{"rendered":"

Africa-Press – Zambia. <\/strong><\/span>The International Finance Corporation(IFC) and Zambeef PLC have signed a 35 Million United States Dollars Memorandum of Understanding (MoU) that will see Zambeef boost value addition to agricultural produce.<\/p>\n

IFC Vice president, Sergio Pimenta who signed the MoU on behalf of his organisation says the move is intended at boosting food security and strengthening Zambia\u2019s agricultural sector to create jobs and help fight poverty.<\/p>\n

Mr Pimenta said the agreement will see IFC invest up to $35 million in Zambeef to support the company\u2019s three-year plan to expand its food production and processing capacities and enable it to source more key inputs, such as wheat, dairy, and animal feed ingredients, from local suppliers.<\/p>\n

He observed that many countries have seen an economic downturn following COVID-19 and the Russia-Ukraine war hence the move will help Zambia restore its economy.<\/p>\n

\u201cWe note however that Zambia\u2019s commitment to ensuring a good performance has seen a reduction in the inflation levels, which is good for the economy,\u201d he said. Mr Pimenta stated that the investment will contribute to climate mitigation by supporting efforts to improve Zambeef\u2019s energy and fuel efficiency.<\/p>\n

\u201cIFC will also provide advisory services to help Zambeef set up a comprehensive carbon assessment planning system, which will accelerate longer-term climate-smart initiatives to combat climate change,\u201d he noted.<\/p>\n

And Zambeef Chief Executive Officer, Faith Mukutu said Zambeef will use the funds to upgrade its feed mill, develop more animal housing, purchase new farm equipment and develop 1,000 hectares of irrigation land, among others.<\/p>\n

Ms Mukutu said this will lead to the creation of almost 1,400 new jobs, expansion of the tax revenue and support for small-scale farmers and small and medium-sized businesses.<\/p>\n

\u201cThe project will enable Zambeef to introduce a new health and biosecurity management system across its animal production chain. This will facilitate easier trade and allow for the safe transfer of live animals and products to prevent the entry of diseases that could be circulating in domestic or regional markets,\u201d she said.<\/p>\n

For More News And Analysis About Zambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zambia. The International Finance Corporation(IFC) and Zambeef PLC have signed a 35 Million United States Dollars Memorandum of Understanding (MoU) that will see Zambeef boost value addition to agricultural produce. IFC Vice president, Sergio Pimenta who signed the MoU on behalf of his organisation says the move is intended at boosting food security […]<\/p>\n","protected":false},"author":84,"featured_media":27283,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[234,235,233],"class_list":["post-27284","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-zambia","tag-zambia"],"yoast_head":"\nInternational Finance Corporation, Zambeef sign a $35 million MoU - Zambia<\/title>\n<meta name=\"description\" content=\"The International Finance Corporation(IFC) and Zambeef PLC have signed a 35 Million United States Dollars Memorandum of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Finance Corporation, Zambeef sign a $35 million MoU\" \/>\n<meta property=\"og:description\" content=\"The International Finance Corporation(IFC) and Zambeef PLC have signed a 35 Million United States Dollars Memorandum of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\" \/>\n<meta property=\"og:site_name\" content=\"Zambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-07-22T22:17:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-07-22T22:35:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/07\/postQueueImg_13-62db2611b3c9f.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"International Finance Corporation, Zambeef sign a $35 million MoU\",\"datePublished\":\"2022-07-22T22:17:44+00:00\",\"dateModified\":\"2022-07-22T22:35:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\"},\"wordCount\":351,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/zambia\/sites\/35\/2022\/07\/postQueueImg_13-62db2611b3c9f.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Zambia\",\"Zambia\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\",\"url\":\"https:\/\/www.africa-press.net\/zambia\/all-news\/international-finance-corporation-zambeef-sign-a-35-million-mou\",\"name\":\"International Finance Corporation, Zambeef sign a $35 million MoU - 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