ZAFFICO PLC is proud to announce transformative investments aimed at driving sustainable growth, value addition and operational efficiency.
During its Annual General Meeting (AGM) held on March 31, 2025, the Corporation highlighted a renewed strategic direction, financial performance and commitment to sustainable growth.
ZAFFICO’s 2024 financial performance reflects its robust strategy and forward-thinking approach, anchored primarily by an increase in the fair value of our biological assets, which generated ZMW332 million in revenue and ZMW738 million in net income.
To address the growing demand for processed agroforestry products, ZAFFICO invested USD3 million in an advanced creosote treatment line and a wooden pole dryer kiln. This strategic move has increased production capacity to 240,000 transmission poles annually, solidifying the Corporation’s position as a leading supplier of treated poles in the region.
The Corporation further invested USD5 million towards the construction of a state-of-the-art Integrated wood processing plant with initial works focused on the sawmill component of the plant whose annual production capacity is 50,000m³. The plant will enable ZAFFICO to shift focus from roundwood sales to the production and distribution of sawn timber, particle boards and plywood.
ZAFFICO is also advancing its plantation expansion efforts targeting an increase in planted hectarage from the current 63,483 to 100,000 hectares by 2028.
Consequently, the Board has made the difficult decision not to declare a dividend for 2024 in recognition of the importance of reinvesting in the business to support its growth trajectory as a Corporation.
Looking ahead, ZAFFICO launched a USD40 million rights offering to further support strategic initiatives. Approved by shareholders in 2024, the offering is expected to be completed in 2025, marking a significant step toward achieving the Corporation’s ambitious goals for the future.
