Business

African Potash delivers 20,000Mt fertiliser

ESTHER MSETEKA, Lusaka
AFRICAN Potash, a pan-African London-listed firm, has delivered 20,000 metric tonnes of fertiliser out the 50,000 metric tonnes worth over US$10 million to help increase agricultural productivity among farmers in the country.
Last year, the company signed a sale agreement to supply 50,000 metric tonnes of fertiliser with representatives from the Common Market for Eastern and Southern Africa (COMESA) and Alliance for Commodity Trade in Eastern and Southern Africa (ACTESA).
According to a statement posted on the company website on Wednesday, under the terms of the sale agreement, the company will supply 25,000 tonnes of nitrogen, phosphorus and potassium (NPK) and 25,000 tonnes of urea at US$500 per tonne.
The statement says the urea stock was delivered to the port of Beira, Mozambique, and was subsequently inspected and approved by an agent acting on behalf of COMESA and Government.
Commenting on the development, African Potash executive chairperson Chris Cleverly said the company will remain committed in exploring new opportunities to expand their market share, and geographic reach, to enable farmers access the product and increase crop yields.
“I believe we have [just] begun to scratch the surface of the potentially enormous market for fertiliser in Africa. Today’s trade alone will generate gross revenue of US$10,160,000 for African Potash, achieving a margin within the previously announced range, clearly highlighting the considerable value of participating in the fertiliser trading market.
Similarly, COMESA chief executive officer Argent Chuula said, “We are pleased to see the culmination of all our collaborative work with African Potash resulting in our inaugural trade with them.”

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