By VITA BANDA
THE Zambia Sugar company has projected a profit of K1.7 billion in the 2024 financial year compared to the K1.2 billion recorded in 2023.
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Company Country Manager, Oswald Magwenzi, said this is because local demand has increased hence the company’s move to increase production.
He also said, business friendly policies being implemented by government in a bid to help the economy be driven by the private sector will help achieve the company target.
Mr Magwenzi further said fundamentals being put in place to attract foreign direct investments will also make it possible for the company to increase production thereby meet its profits target.
He said this will in turn enable the company contribute significantly to the country’s economic growth.
Mr Magwenzi was speaking when he presented the company’s full year financial and operational results in Lusaka yesterday.
“Why do we have all this confidence, we have all this confidence because we have the opportunity to grow our business as there is a growing business domestically and we have emerging markets in DRC and in the region.
So, it is an exciting time to be in this business. We have done some excellent work to see the export potential. We have done work logistically if we can reach that country or not.
“So, if you want to invest, you look no further other than Zambia Sugar,” Mr Magwenzi said.
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