26 July 2012

Zambia: TIKTO Buys New Machinery

TIKTO Industries, a local firm based in the Chambishi Multi Facility Economic Zone (MFEZ) has bought machinery from China to be used for manufacturing grain bags.

And the company has so far employed 25 workers and has since invested US$500,000 in the grain bag manufacturing plant at the Chambishi MFEZ.

In an interview in Lusaka, Tikto general manager Peter Banda said his firm had since procured the machinery from a Chinese firm, Yanfeng Group Company Limited at an initial cost of $121,000 to manufacture grain bags.

Mr Banda said the equipment would arrive in the country in the next 60 days and that the company was expected to commence production in November this year.

He said the company would be producing five million bags per year with the first set of equipment, adding that once the company brings in more equipment it would increase production to 20 million bags per year.

"With this set of equipment, the company will be producing five million grain bags annually, but we expect to increase production of grain bags to 20 million. This we enable us to meet demand on the market," Mr Banda said.

He said the company had so far employed 25 workers and was scheduled to increase the number to 40.

Mr Banda said the company would explore opportunities in the neighboring countries such as the Democratic Republic of Congo (DRC) and the World Food Programme.

He urged Zambian entrepreneurs to take advantage of the MFEZ and also called on the Government to encourage entrepreneurs to invest in the economic zones.

Mr Banda challenged small and medium entrepreneurs to take it upon themselves to go into areas where no Zambians are present such as establishing enterprises in the MFEZ.

"I believe if you know what you want, you will be able to sell out your ideas to other investors out there. What is important is to be focused," Mr Banda said.

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