Zambia Sugar PLC Board Chairperson, Roseta Chabala, has commended the company for achieving $1 billion in market capitalisation on the Lusaka Securities Exchange (LuSE).
Speaking, Friday, at Sarovar Hotel in Lusaka during a Bell-ringing ceremony to mark the milestone, Mrs Chabala congratulated the Board and management for ensuring the company became the first away from energy and mining sectors, and 30 years after becoming the second firm to list on LuSE.
Mrs Chabala stated that such an achievement does not happen in a vacuum, hence thanking shareholders and all other market participants, for placing their trust in the brand.
She further attributed the milestone to tangible investments by Zambia Sugar, both in expanding its power production as well as overall production capacity improvement, including the estate areas as well as introducing new irrigation technology.
Mrs Chabala added that the country’s improving economic outlook has also hugely contributed to the company recording its success, a demonstration of leading from the apex by a private-sector firm.
At the same event, Zambia Sugar PLC Managing Director, Oswald Magwenzi, thanked the staff for their resilience, teamwork and focus on execution of the strategy taking advantage of the favourable investment climate and attractive policy environment.
He also highlighted an outlined phased plan to continue hitting a growth trajectory, beginning with expanding power production to 60 megawatts by 2030, from the current 40 megawatt which is already being increased by 13 megawatts by the end of this year bringing it to 53 MW.
He also stated that the company was on the market looking for an additional 15 MW of solar power station to be installed at Nakambala.
He stated that to that effect, Zambia Sugar had already sent out a tender to acquire a 15 megawatts solar system as part of a phased approach to the undertaking.
Meanwhile, LuSE Chairperson represented by Board member, Mr Choongo Chiwabe, praised the government’s favorable policies and the company’s resilience in the global market.
At the close of the 2025 financial year, Zambia Sugar’s share price stood at K48 per share, which has since risen by approximately 56% to K75 per share.
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