ZAFFICO is a State Owned Enterprise (SOE) and a subsidiary of the Industrial Development Corporation (IDC) incorporated under the Companies Act, Chapter 388 of the Laws of Zambia as a private Limited Company limited by shares. The Corporation is wholly owned by the Government of the Republic of Zambia through the Industrial Development Corporation pursuant to the provisions of the Ministry of Finance (Incorporation) Act, Chapter 349 of the Laws of Zambia.
GOVERNANCE OF ZAFFICO
The Corporation is headed by the Managing Director. The Managing Director reports to the Board of Directors. The Corporation is administratively divided in three Departments and four Units which include Plantations, Corporate Services, Finance, Audit, Business Development, Human Resource and the Tea Division. The corporate structure has three Executive Directors who report to the Managing Director. The Directors are the Corporation Secretary who heads the Corporate Services, the Director of Plantations heads the Plantations Department and the Director of Finance who heads the Finance departments. The Chief Internal Auditor who functionally report to the Audit Committee of the Board also report to the Managing Director for administrative purposes. The Head of Human Resource, the Manager-Tea Division and the Business Development Manager also report to the Managing Director.