“Uniflex’s New Factory launched”
…A $10 Million Boost Investment to boosts Zambian copper Imindustry, receives government praise
By Francis Maingaila ♥️
*Lusaka, Zambia24 – (22-08-2024) – Uniflex Limited has announced a major $10 million investment in a new factory, representing a significant advancement in Zambia’s copper manufacturing sector.
This new facility, which has already created over 150 jobs, will process 3,600 metric tons of copper annually and produce a range of products including building wires, low voltage cables, aluminum conductors, and specialized cables.
Future plans include expanding into enameled copper wires and medium to high voltage cables.
Chipoka Mulenga, Minister of Commerce, Trade, and Industry, emphasized the critical need for Zambia to focus on industrialization and enhance local production.
Speaking at the event, Mulenga said, “It is crucial for Zambia to process its mineral resources, particularly copper, into finished products such as wires and cables, rather than exporting raw materials.”
Mulenga expressed strong support for Uniflex, a local copper cable producer, and encouraged expanding its market reach within the region.
He stated, “We need to support our local industries by favoring locally manufactured goods. This will not only support domestic industries but also help lower costs.”
These comments align with the goals of the Eighth National Development Plan, which aims to drive economic growth through industrialization.
Mulenga described the $10 million factory launch as a step towards producing local products like cables and fertilizers.
He added, “This investment is expected to boost economic stability and job creation.”
Addressing challenges faced by local companies, Mulenga acknowledged issues such as accessing raw materials and navigating sales processes with utility companies.
He pledged, “We will tackle these obstacles to promote local industry growth and reduce reliance on imports.”
Mulenga’s remarks reflect the government’s broader commitment to fostering industrial growth and strengthening the domestic economy through increased local manufacturing.
Mukesh Rankwar, Director at Uniflex Wires and Cable, expressed gratitude for the government’s continued support of the manufacturing industry in Zambia.
He emphasized that this support has significantly boosted Zambia’s foreign exchange earnings through exports to the DRC, Malawi, and Angola.
However, Rankwar also highlighted a critical challenge: securing a consistent supply of copper cathodes, which could potentially impact future sector growth.
Ashu Sagar, President of the Zambia Association of Manufacturers (ZAM), praised the government’s crucial support for the manufacturing industry amidst ongoing challenges such as load shedding and drought.
“The government’s commitment is vital for our sector’s growth and resilience,” Sagar said.
He highlighted Uniflex’s $10 million investment, which has created 150 jobs and processes 3,600 tons of copper annually.
Sagar called this development a significant boost to Zambia’s copper value chain. “Uniflex’s investment showcases Zambia’s attractiveness to investors despite current challenges,” he noted.
Sagar stressed that the success of Zambia’s manufacturing sector relies heavily on supportive government policies and incentives from the Zambia Development Agency (ZDA).
“These measures are crucial for attracting and retaining investments,” he added.
He also urged the government to ensure a reliable supply of refined copper cathodes, essential for the growth of the copper wire industry.
“Consistent access to refined copper is key for future investments and job creation,” Sagar stated.
He further called for the promotion of locally made products by entities such as ZESCO and the Rural Electrification Authority.
“Supporting ‘Proudly Zambian’ goods is crucial for our economic development,” he emphasized.
Additionally, Sagar supported the proposed creation of a Special Purpose Vehicle (SPV) or metal trading platform to address the needs of manufacturers.
“We are fully committed to backing this initiative,” he confirmed.
Sagar expressed gratitude to the Honorable Minister for their strong partnership with the industry and emphasized the importance of continued collaboration among the government, industry associations, and private sector companies like Uniflex.
“Ongoing cooperation is essential for strengthening our manufacturing sector,” he concluded.
