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Monday, 7 May 2012

Investment Watch (Various)

A collection of recent investment stories:

BATA Shoe Company is looking to undertake a K4.8bn expansion with the opening of six additional stores and renovation of 20 stores countrywide. The company currently has 44 stores.

Nigeria's DANGOTE Industrials says it has spent US$150 million out of the US$400 million total investment of the cement plant under construction in Masaiti, expected to be completed by December 2013. The construction works are on schedule and once completed the cement plant will have a production capacity of 3,500 tonnes of cement per day. It is expected to create 600 jobs. The company has been hampered by the delays in issuance of work permit for specialists from China which is affecting construction works. The project was strongly encouraged by the 4th President as part of his efforts to capture Copperbelt rural. Though at the time locals were told it wold be 3000 jobs! Nevertheless it is good to see it progressing!

Ndola Lime Limited has commenced its recapitalisation project at a cost of more than US$80 million that will see the company double its quick lime production from 170,000 tonnes to excesses of 300,000 tonnes. The company is modernising the plant in response to high demand of lime products by mining firms and construction companies, locally and in the DRC. The future for Ndola lime with the new investment looks very bright indeed. This is important because Ndola Lime is a wholly owned subsidiary of ZCCM-IH. That is to say is a parastatal owned by GRZ. The Company has been in existence since 1931. In the past it has been a hotbed of corruption.

MTN Zambia is aiming to become the largest mobile phone provider in the country with plans to invest more than US$100 million on network expansion in the next three years. The company currently has 36% market with less than 3m subscribers.

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