ZAMBEEF slashes prices as Government urges firms to pass economic gains to consumers

“Today’s announcement shows what can be achieved when government and the private sector work together,” Mulenga said.

The Minister described the price cuts as timely, noting that inflation has dropped to about 10.5 percent and the exchange rate has stabilised, signs that Government interventions are beginning to pay off.

He said the reductions will particularly benefit parents preparing for the school year and families planning festivities such as Valentine’s Day, adding that the move supports rural livelihoods and value addition.

Ministry of Commerce, Trade and Industry Permanent Secretary in charge of Commerce and Trade, Lillian Bwalya, said the growing collaboration between Government and the private sector is bearing fruit, with increased investment flowing into the manufacturing sector.

She said Government remains committed to improving the business environment and supporting private sector initiatives aimed at promoting value addition, economic growth and national development.

Announcing the price cuts, ZAMBEEF Products PLC chief executive officer Faith Mukutu said the decision was driven by the company’s desire to pass economic benefits to consumers while supporting market growth and cost optimisation.

Mukutu said ZAMBEEF will continue to engage Government and trade associations to promote sustainable socio-economic growth, adding that the company is awaiting further policy clarity on Statutory Instrument No. 110 before reviewing prices of synthetic shoes.

Zambia Association of Manufacturers president Muhammed Umar described ZAMBEEF’s move as a clear sign of progress in the manufacturing sector, made possible by improved macroeconomic fundamentals such as stable fuel prices and a more reliable power supply.

Umar urged other manufacturers to review their cost structures and consider price adjustments that support consumer welfare while ensuring business sustainability.

Meanwhile, Zambia Chamber of Commerce and Industry acting chief executive officer Emmanuel Mumba said 2025 is shaping up to be a pivotal year for Zambia’s economy, marked by exchange rate stability, easing inflation and increased private sector investment, especially in the energy sector.

Mumba said the positive trends signal renewed confidence in Zambia’s economic prospects and reflect the impact of sound policy decisions and reforms, adding that ZACCI remains ready to support Government efforts to enhance the business environment, promote value addition and strengthen local enterprise participation.

This is according to a statement issued by the Ministry’s principal public relations officer Everness Nankala.