Illovo to expand business in Zambia

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—-Illovo sugar Central Regional Director, Ian Parrott, has commended government for establishing political and economic stability in the country.

 

Mr Parrott noted that the country had an investor-friendly environment.

 

He revealed that Illovo was scouting for further investment in Zambia so as to demonstrate its commitment made since its acquisition of Zambia Sugar in 2001.

Mr Parrott congratulated the Zambia Sugar team for the strides made so far and hoped that their future targets would be achieved.

 

He said this when the Permanent Secretary of the Ministry of Commerce, Trade And Industry, Siazongo Siakalenge, visited Zambia Sugar’s Nakambala Estate in Mazabuka today.

 

And Mr Parrott has revealed that Zambia Sugar was working on a major expansion of its existing operations.

 

He said details of the project would be communicated later as it was subject to company, government, various regulatory approvals and that of the Illovo sugar group board.

 

 Illovo Sugar is Africa’s largest sugar producer and its investment commitment has been among other things to increase significantly the existing area of land under cane through its agricultural operations.

 

And Ministry of Commerce, Trade and Industry Permanent Secretary, Siazongo Siakalenge has welcomed the news by Illovo concerning the expansion of Zambia sugars existing operations.

 

He said Zambia Sugar was doing well as one of the companies that had signed an investment promotion agreement.

 

Mr Siakalenge, who toured the Nakambala Estate, noted that the company was a success story of privatization.

 

He urged Illovo to continue developing local businesses in the domestic economy as it was the only way in which the business could be expanded in domestic markets.

 

Mr Siakalenge reaffirmed government’s commitment towards working with investors for the development of the country.

 

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