IDC INAUGURATES NEW ZAFFICO BOARD

IDC Acting Group CEO Mr Henry Sakala has unveiled the new ZAFFICO Plc Board of Directors to further drive the company’s growth.
The new Board comprises the following members:
Dr. Alvert Namasamu Ng’andu – Chairperson
Mrs. Mwaka Samundengu Ngoma – Vice Chairperson
Mr. Peter Mutale Kang’ombe – Board Member
Mr. Chanda Mutoni – Board Member
Mr. Mason Mwiinga – Board Member
Mr. Utembele Simwinga – Board Member
Prof. Felix Kanungwe Kalaba – Board Member
Ms. Mwema K. Litana – Board Member
Mr. Mundia Mundia Board Member and CEO

Mr Sakala thanked the previous Board for growing the company over the last few years by consistently making profits and declared dividends, successfully listing the company on the Lusaka Securities Exchange (LuSE), opening a new business unit (Pole Treatment Plant), and exploiting business with ZESCO for treated poles, which has significantly contributed to growth of the Company’s revenue base.
He challenged the new Board to expand its forest plantation from the current 50,000 hectares, to add value to its wood by diversifying into processed wood products, and to satisfy local demand for treated poles.
IDC, which owns 60.3% of ZAFFICO, also expects the company to complete the enumeration of its plantation stock, to develop early maturing tree varieties, and to obtain title deeds for all its plantations.
Dr Ng’andu, the new Chairperson, said the new Board was honoured by the opportunity to serve, and to continue with the progress and growth of ZAFFICO.
He said the company would implement several measures to protect the employees and communities, as well as to grow its business operations to remain viable and vibrant to meet the shareholders’ expectations.