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A local firm, Umoyo Natural Health Limited has reportedly expanded its operations into the Lusaka South Multi-Facility Economic Zone (LSMFEZ).
According to LSMFEZ Manager for Corporate Affairs, Alice Schultz, the initial project investment is K7 million and is expected to grow to K17 million in the next year three.
Schultz in a statement issued on Monday in Lusaka said Umoyo Natural Health Limited will set up a state-of-the-art factory on a two hectare piece of land within the Zone.
She said the factory is firmly positioned to service the market in and around Zambia and is already utilizing local raw material in the production of its products in alignment to the goal of diversifying the Zambian Economy and promoting agro-processing.
Shultz said the construction for the project is expected to break ground by quarter three of 2023.
“The Lusaka South MFEZ is delighted to host this investment especially since Zambia provides a ready market and is uniquely surrounded by eight neighboring countries whose surrounding market size combined is over 450 million people,” she said.
Read More:Investments in Multi-Facility Economic Zone hit $1 billion, as investor confidence soars
Schultz stated that Zambia is endowed with natural raw materials that Umoyo may utilize in its production with an opportunity to diversify and increase its product line.
She said local farmers farming plants like lemon grass, hibiscus and baobab and other unique vegetation with natural health benefits may utilize the opportunity of bulk supply to the company.
“The Management of the Zone is working to uniquely position industries that may tap into the existing value chains within the Zone and Zambia at large, providing a ready market for both raw materials and finished products,” Schultz said.
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