Commonwealth Development Corporation

MUNKUMPU FARMS

A CDC Farm

Munkumpu Farms was sold to CDC (Commonwealth Development Corporation) for a total considerstion of US$7.2 million. Munkumpu Farms comprise two farms, Impumbu Crop Farm and Kampemba Ranch. Inpumbu Farm's main activity is cattle ranching and sheep rearing. In addition to the purchase of consideration, a sum of US$15 million by way of capital expenture will be invested over a period of 3 - 4 years of which US$7 million will be epended on a new wheat mill. The wheat mill will increase Zambia's capacity and contribute to agra industry development.

OTHER INVESTMENTS

CDC has been in Zambia for over 40 years with investment in various sectors of the Zambian economy, exceeding £60 million .CDC has also acquired the majority shareholding ( 50.1%) in Chilanga Cement which is one of Zambia's leading industrial companies with an annual production turnover of over 350,000 tonnes of cement.

The size and importance of these transactions demonstrate the significant business confidence now returning to Zambia as an investment destination.

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