ZDA plans to raise $100m for SMEs
By Fridah Zinyama
Tuesday June 17, 2008 [04:00]
ZAMBIA Development Agency-Exports Fund of Zambia managing director Glyne Michelo has said the agency hopes to raise K319 billion (US$ 100 million) in order to help the development of the Small and Medium Enterprises (SMEs) sector in the country. According to Michelo, once raised, the funds would help the SMEs sector which had been for a long time failing to access financial assistance.
“These funds will help the struggling SMEs to improve their packaging so that their products will be acceptable on the international market,” he said.
Michelo explained that ZDA had a role in promoting both new investments into Zambia and the diversification of productive economic sectors and exports of goods and services.
“Not only should we be working to maintain our overall competitiveness onexports but also endeavour to stimulate growth in other sectors that have potential to earn the country new streams of foreign exchange,” he said.
Michelo noted that the main impediment to the growth of the non-traditional sector and to more rapid socio-economic development as a whole, in the past, had been lack of access to affordable financing for small and medium enterprises engaged in the business of exporting and or supplying large export companies.
“With improved significant access to affordable finance, which the Exports Fund of Zambia will be aiming to do through ultimately raising US$ 100 million for the sector, we expect fostering growth of our non-traditional export contributions to both foreign exchange and GDP growth,” said Michelo.
Labels: FUNDING, PACKAGING, SMEs, ZDA
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Zambian Breweries, Zim firm sign deal
By Kingsley Kaswende in Harare
Monday October 29, 2007 [03:00]
A ZIMBABWEAN packaging manufacturing firm, Mega Pak, has entered into a deal to supply Zambian Breweries with crates for both beer and soft drinks. The contract will see Mega Pak supplying initially 300,000 crates and potentially raising supply to 1.5 million beer crates and 1.5 million soft drink crates, upon satisfying the first consignment.
The deal is a major boost to the manufacturing firm, struggling with lack of foreign currency to purchase its requisite materials.
Managing director, Martin Makomva, said Mega Pak would earn US $700,000 from the arrangement.
The company, which has been facing viability constraints in recent weeks, has just been handed down US $1.1 million by the Reserve Bank of Zimbabwe under its new facility to assist exporting firms.
The funds helped kick-start production that had been suspended since July.
"We are aware of the huge demand for foreign currency in the economy. We also take seriously our responsibility to conserve and to generate foreign currency for the country,” Makomva said.
He said Mega Pak would produce for Zambian Breweries sparkling beverage crates that contains 70 per cent recycled material and 30 percent virgin material.
The recycled material will come from used crates in Zambia, where Mega Pak will set up a temporary plant.
"Mega Pak will dispatch a shredding machine to Zambia to crush about 150,000 used Coca-Cola crates," Makomva said. "The crushed material will then be shipped to Zimbabwe for further processing after which it will be mixed with virgin material to produce the crates."
Zambia Breweries will buy the virgin material from Mega Pak's traditional suppliers in South Africa and deliver the material to Mega Pak premises in Ruwa, east of Harare.
Labels: PACKAGING, TRADE, ZAMBIAN BREWERIES, ZIMBABWE
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