Zambia Sugar Managing Director, Oswald Magwenzi, says the company remains firmly rooted in the vision of a private sector-led growth and development for the nation.
He shared the sentiments at the 4th Public Private Dialogue Forum (PPDF) convened by President Hakainde Hichilema in Lusaka, Friday, with Zambia Sugar being the Anchor Sponsor of the event.
Mr. Magwenzi stated that as a leader in the agri-business sector, Zambia Sugar has demonstrated the impact and potential of the private sector in contributing to national development.
He highlighted that presently, Zambia Sugar is implementing various projects with an investment cost of 132 million US dollars. He stated that at the 34th International Sugar Organization Seminar held in London, the Zambian sugar industry represented by Zambia Sugar was recognised as being ranked among the top 10 low cost producers in the sector globally.
Magwenzi tabulated that 18 million US dollars falling film evaporator had been installed at the Nakambala factory to help increase throughput.
Ongoing projects in agriculture worth in excess of 23 million dollars focused on efficient irrigation technologies were already producing results, while 75 million US dollars is being invested in constructing Twazabuka warehouse and Customer service facility.
He further highlighted that the company has received authorization from the Energy Regulation Board (ERB) to expand its current 40 megawatts electricity production to 53 megawatts in the first phase enroute to the earmarked 100 megawatts of power generation.
At the same event, President Hakainde Hichilema reiterated the importance of the private sector in growing a nation’s fortune, hence his government’s commitment to continue creating a conducive operational environment.
He commended Zambia Sugar for remaining committed to its vision and challenged the Company to expand its power plant to 100 MW hinting that the company needed to be participating in the energy sector and add the excess power to the grid thanks to the energy reforms that had been made in the sector.
This year’s PPDF theme was dubbed “Driving National Development and Building Economic Resilience, Innovative Private Sector for Job Creation and Sustained Economic Growth.”
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