Cattle Wealth Management Firm (CWMF), a company that was created to farm cattle for individuals passionate about ranching, says it’s targeting to surpass rivals Zambeef in the agro-processing sector.
Founded by three indigenous Zambian entrepreneurs, who include late president Levy Mwanawasa’s daughter, Chipokota, who is also one of the directors at the firm, Cattle Wealth management team has vast experience in livestock management, cattle ranching, business development and accounting.
Last week, CWMF brought together about 400 visitors consisting of both existing and prospective clients to its Farm in Ipongo area of Chief Chitanda’s Village in Chibombo District to witness a field day, which provided an interactive platform for business and networking.
At this event, CWMF veterinary consultant Dr Malcom Chiyoba told stakeholders that Cattle Wealth targeted to surpass Zambeef in holding bigger ranches and producing more beef, among other livestock in the country and beyond.
“We are hoping as Cattle Wealth that we become a centre of information to our local farmers by providing necessary extension information. We want to beat Zambeef; we want to be the biggest ranch in the country and not just in the country, but in the region as well. We are even going to start getting students in the country to come and learn here, to come and do their practicals from our farms and on our animals. I hope also that soon, a laboratory will be established for best diagnostics so that we are on course in all areas of beef cattle production or ranching,” Dr Chiyoba said.
And Cattle Wealth director Joel Chitambala gave a brief background of what the firm is involved in, while assuring the would-be clients of how the cattle kept at the firm’s farms had insurance cover for death, theft, snake bites and anything that would cause a cow to die.
“Ideally, how we work together is: you give us one cow, we pre-finance it and look after it for a minimum of four years. In those four years, we have to put up a cost. Our margins and profits only come after four years because the first cow has to go to two years before it can be sold, but you put in the capital upfront and then we will give you back this capital with a return and this gives you a 100 per cent return in four years. So, what happens to these cows after four years? They are your cows, in case you’ve prepared a farm, you can take them to your farm. Or you can even sell them for cash investment and at that point in time, we shall cash you out at market price in four years’ time,” Chitambala said.
He added that Cattle Wealth was positioning itself to be the number one cattle rancher and meat producer in the region in the next 20 years.
“In the next 20 years, we want to attack the sub-region. We want to be a household name in the sub-region; in Zambia, Zimbabwe, South Africa, Congo, and Tanzania; we want this name Cattle Wealth Management Firm to be a household name and believe you me, we are probably the only indigenous Zambian company in this cattle business changing farming. We are changing the way cattle farming is done because the model we are using is more like an empowerment tool. With this model of cattle farming, everyone in Zambia can own a cow at our farm without having to worry about anything,” said Chitambala.
Meanwhile, Cattle Wealth has partnered with Professional Insurance Limited for the insurance of its animals and Kabwe branch manager Limon Nyirenda expressed excitement at the new partnership.
“Indeed, when you are cattle farming, there are a number of risks that a farmer faces; ranging from death, theft, fire, lightening and snake bites and these are concerns that a farmer has and they think about ways on how to safeguard themselves. Imagine you own 100 cattle, and suddenly, lightening comes and they all go! But if you’ve got insurance, you can be rest assured that once you suffer such a loss, you know that you are well-taken care of. That’s why Professional Insurance is here. We are very excited to have been part of this event and having sponsored it and we have seen the value in this programme that Cattle Wealth Management Firm has embarked on. We hope that more Zambians will come on board because we can all see how the price of beef is going up. Despite the challenges in the economy, the price of beef keeps on going up. That goes to show that, indeed, there is money in this business and the earlier we take advantage and invest into it the better,” said Nyirenda.
Chief Chitanda, who was also present at the field day, thanked Chipokota and her team for having gone back to her parents’ village to set up a venture that had provided employment for the people in his area.
“Chipo approached me for a piece of land in this chiefdom [about 10] years ago and upon being given the land, she asked for my advice in her quest to develop the area. My advice to her was to forget about politics and concentrate on developing the land. I said ‘you have come to me as your grandfather; follow my steps because I am not a politician. But let us use our own soil that we have been given by God to better our lives.’ She heeded my advice and here we are today; witnessing how she and her team have built up this area and created employment for the people who live here. So, I would like to also call upon other young citizens to emulate this young lady,” said Chief Chitanda.
Earlier at the event, Cattle Wealth unveiled a partnership with Airtel and launched the Cattle Wealth mobile payment platform on Airtel Money.
Also present at the field day was former first lady Maureen Mwanawasa.