• Factory workers parking and sealing sugar at Zambia Sugar Plc Nakambala in Mazabuka.
Picture by KENNEDY MUPESENI.
By KENNEDY MUPESENI –
ILLOVO Sugar Group, the majority share holder in Zambia Sugar Plc plans to embark on further product diversification to get more value from sugar cane products.
The company is currently finalising plans for a proposed major expansion of its existing operations which would include the production of biogas as well as portable beer.
Illovo central regional director Ian Parrot said Zambia Sugar would before the end of this year finalise the proposed expansion of existing operations to include a new range of products.
Mr Parrot said this when Commerce Trade and Industry permanent secretary Siazongo Siakalenge toured Zambia Sugar operations in Mazabuka on Wednesday.
“The company is currently finalising plans for a proposed major expansion of its existing operations. However, at this stage,it is inappropriate for us to release further details of the project as it is subject to the approval from company, Government and various regulators including Illovo Sugar Group board who are the majority shareholders of Zambia Sugar,” he said.
The recently independent assessment of the group’s socio-economic benefits in the Southern African region estimated that Zambia Sugar contributed K2.2 million to the country’s economy in 2012/2013.
Zambia Sugar employs more than 6,000 people and controls more than 90 per cent of Zambia’s local and export of Sugar products’ market share.
Zambia Sugar acting managing director Rebecca Katowa said Illovo was a committed African company that actively pursued viable and sustainable investment opportunities across its countries of operations.
“We are proud to be part of the group which, with its firm, complements our strategic goal of being a diversified world class and market leading business in central Africa that contributes to the economic growth and prosperity not only its shareholders, but of its own employees and communities and the wider Zambia nation,” Ms Katowa.
Mr Siakalenge assured Government’s continued support to private investment to grow the economy.
“This is the flagship of successful privatisation looking at the investments the major share holders have continued putting in the expansion of the operations here which has seen increase in production,” he said.
