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Annual Report Summaries, Investee Companies

Mushe Milling Company Limited Extract from 2021 Annual Report

Mushe Milling Limited (MML) earned a total of ZMW38.15 million in revenue for the year ended 31 

December 2021 (2020: ZMW106.46 million). MML recorded a net loss of ZMW48.14 million (2020: 

ZMW19.65 million loss). 

The Company remained undercapitalised with a negative equity position and current liabilities in 

excess of ZMW45 million. Due to its consistent weak financial position, only minimal debt amounts 

could be settled by the Company during the period and operations were temporarily halted 

due to MML’s inability to purchase its own maize stock. ZCCM-IH intervened by entering into a 

maize supply agency agreement with MML in order to revive operations in Q1 of 2021. 

There were no dividends declared during the period under review (2020: Nil). 

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