A TANZANIAN firm has indicated its intention to set up a cotton ginnery in Zambia to provide a ready market for small-scale cotton growers in the country.
MeTL Group wants to set up a ginnery with the view of buying cotton from small-scale farmers (SSF) and process it locally.
Company deputy chief executive officer Cosmas Mtesigwa said the firm was ready to bring huge investment into the country for the betterment of the Zambian people and help contribute to the country’s economic development.
MeTL Group is said to be a leading economic force in Tanzania with major investments and successful operating companies in all key business sectors.
The group employs more than 20,000 people across the country and has diverse interests in trading, agriculture, manufacturing, energy and petroleum, financial services, mobile telephony, real estate and logistics and distribution.
“We want to set up a ginnery here in Zambia, so that we start buying cotton from the farmers. That way, we will be contributing to economic growth in the country,” Mr Mtesigwa said.
He said the company was expected to employ not less than 80 local people once it sets up a ginnery in the country.
Mr Mtesigwa said the company, which was already in Mozambique, Uganda and South Africa, had just extended services into Malawi and was now moving into Zambia.
He said MeTL Group resolves to achieve a dominant presence in its core business areas, in an ethical and socially responsible manner, by manufacturing and supplying quality products and services that provide value-for-money to buyers and consumers at large.
“Over the last four years, we have spent more than US$ 2 million in developing schools, providing water supply interventions to create income generation, scholarships, invested in health care and enhanced sports programmes,” he said.