The Corporation was incorporated under the then Companies Act CAP 388 of the laws of Zambia. Currently, ZAFFICO draws its mandate from the Companies Act No. 10 of 2017 of the Laws of Zambia. In order to ensure sound internal controls, accountability and transparency in the operations of the Corporation, the governance structure of the Corporation consists of the Board, Committees of the
Board and Management.
The Board comprises nine (9) members of which eight (8) are non-Executive Directors and the Managing Director as an Executive Director. Two (2) non-Executive Directors were appointed on 15 May 2020. The Board is well balanced with a mix of skills, experience, independence and knowledge required to discharge its duties and responsibilities effectively.
As part of governance, the Board constituted the following Committees to provide detailed analysis of the areas of business development, finance, risk, audit, operations and human resources to the Board;
Audit and Risk Management;
Staff and Administration; and
Finance and Operations.
Each Committee has a Charter setting out its roles, responsibilities and delegated authority from the Board. Competent and experienced non-Executive Directors chair the Committees.
The Corporation’s Executive Management team consists of the Managing Director, six (6) Directors and one (1) Senior Manager.
To strengthen internal controls and compliance within the Corporation, Zaffico has an independent Internal Audit Directorate which reports directly to the Audit and Risk Management Committee of the Board. The Directorate provides assurance that internal control systems, governance and risk management are in place and functioning properly and recommends areas of improvements.
The Corporation was incorporated under the then Companies Act CAP 388 of the laws of Zambia. Currently, ZAFFICO draws its mandate from the Companies Act No. 10 of 2017 of the Laws of Zambia.
“A leading supplier of quality Forest and Agroforestry products in the region.”.
To establish and manage industrial exotic forest plantations and agroforestry products in order to meet demand and maximise return on investment.