The Zambia Forestry and Forest Industries Corporation (ZAFFICO) has unveiled a new corporate identity and has adopted ZAFFICO Plc as its full corporate name, replacing Zambia Forestry and Forest Industries Corporation, while retaining the familiar ZAFFICO identity that has served it for decades.
The company has also signed a Memorandum of Understanding (MoU) with Microfinance Zambia Limited to expand access to timber products through flexible financing arrangements.
ZAFFICO Plc Managing Director, Mundia Mundia, says the rebranding and partnership were part of the company’s transformation strategy aimed at strengthening its competitiveness, promoting value addition and contributing to Zambia’s economic growth.
Speaking at the event in Lusaka today, Mr Mundia said the new identity was intended to enhance the company’s visibility and recognition as it expanded into value-added timber products and industrial processing.
“The new identity reflects our transformation journey and our ambition to strengthen our competitiveness in the forestry and timber industry,” he said.
He added that the financing arrangement with Microfinance Zambia Limited would enable public and private sector employees, homeowners, small-scale traders and businesses to acquire timber and other forestry products through manageable instalments.
Mr Mundia said the facility would cover timber, treated poles, seedlings, sawdust, wood chips and particle boards once production begins at the company’s planned particle board factory.
He also indicated that the partnership is aligned with the government’s Grow Zambia Agenda by promoting inclusive economic growth, job creation, home ownership and the development of local value chains.
And, Mr Mundia revealed that ZAFFICA Plc was investing in expanding its wood processing capacity, including a particle board factory costing about US$30 Million in Kalulushi, which is expected to be commissioned in 2028.
Meanwhile, Microfinance Zambia Limited Managing Director, James Chona, said the partnership would help address challenges related to access to affordable financing, particularly among small and medium-sized enterprises.
Mr Chona said the facility would enable customers to obtain financing for timber and other products without having to raise the full purchase amount upfront.
“The partnership will make it easier for customers to access financing and acquire the products they need without paying the full amount upfront,” Mr Chona said.
He noted that the partnership was designed to promote financial inclusion by helping even small-scale traders and suppliers’ access financing to grow their businesses.
Mr Chona further urged the media and other stakeholders to publicise the initiative to ensure that more eligible customers benefit from the facility.
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