Declaration of Independence (UDI) agenda. The Nakambala Sugar Estate came to be called Zambia Sugar Company in 1966. Some of the key events in the history of Zambia Sugar include: 1966 - Tate & Lyle develops the Nakambala Estate as Zambia Sugar Company. 1968 - Sugar production begins and the raw sugar is sent to Ndola for refining. 1972 - Industrial Development Corporation (INDECO) takes a 51% stake in Zambia Sugar. 1975 - INDECO raises holding to 78% whilst Tate & Lyle retained 10.8% shareholding and provided technical and managerial services. 1990 - Operations consolidated at Nakambala Estate, and the refinery moved to Nakambala from Ndola. 1995 - Zambia Sugar privatised and Tate & Lyle becomes the major shareholder with a 50.9% stake, whilst Commonwealth Development Corporation (CDC) takes a 31% stake. 1996 - Successfully listed on the Lusaka Stock Exchange as Zambia Sugar Plc. Zambians were finally able to buy shares in the Company. 2001 - Illovo Sugar Limited acquires the 50.9% Tate & Lyle shares, and as required by law, makes a mandatory offer to minority shareholders and thereby increases its shareholding to 89.71%. Through continuous improvement and investment, Illovo raised
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ABOVE: Night view of Boiler 6 at Nakambala Factory RIGHT: Old Ndola factory operations. BELOW RIGHT: Main control room at Nakambala
sugar production from below 190,000 tonnes at the time of acquisition to around 240,000 tonnes prior to expansion in 2006. 2007 - The Nakambala Expansion Project was launched. The agriculture and milling expansion was completed on schedule in April 2009 and was commissioned on 9 December 2009, as the largest single investment made in the Zambian agricultural industry to that date. The expansion effectively doubled the cane crushing capacity of the factory, to process the increased cane supply resulting from an expanded sugarcane growing area. On the agricultural side, the expansion entailed the construction of a network of dams, canals, pipelines, pump stations, roads and power infrastructure to service the new areas of sugarcane development, which have all been planted under centre pivot irrigation systems. 2009 - The Company acquired a controlling interest in Nanga Farms Plc (“Nanga�), a cane growing company, located adjacent to the Nakambala Estate, and currently producing around 350,000 tonnes of sugarcane per annum. To fund the acquisition of Nanga and meet other capital requirements, the Company made a Rights Issue in that year which led Illovo Sugar to dilute its shareholding in Zambia Sugar to 81.55%. The shares released by Illovo have empowered Zambians through increased shareholding by institutional investors and individuals.