In 2012, the shareholders of APIL commenced with an expansion into Zambia.
Through African Property Investments Limited (“API”), a GBC1 company incorporated in Mauritius, 5 retail malls and standalone Builders Warehouse were developed throughout Zambia, namely in Lusaka, Kitwe Ndola, Kabwe and Solwezi. Each of the malls is anchored by Shoprite.
API holds 50% in the underlying Zambian entities with the exception of Mukuba in which API holds 25% and 30% of Kafubu. There are currently no plans for any further development in Zambia.