Business

SA firm invests K100 million

Mwanakatwe

ESTHER MSETEKA, Lusaka
JUMBO, a leading South African wholesaler, has invested about K100 million in setting up a store to promote local business supply chains in Zambia and foster economic growth.

Minister of Commerce, Trade and Industry Margaret Mwanakatwe said Government is committed to creating a favourable investment environment to level the playing field for businesses operating in the country.

Mrs Mwanakatwe said this in a speech read for her by the ministry’s permanent secretary Kayula Siame during the official opening of Jumbo store on Monday.
She said Government will ensure that it develops a private sector agenda to create an open, transparent, stable and predictable business environment.
“The opening of Jumbo store signifies what [we] trust will be an important milestone for small medium-sized enterprises [SMEs] in Zambia as Jumbo’s primary markets are franchise members, independent retail chains and general dealers, commercial customers and hawkers servicing consumers within the low to middle income bracket.
“It is also Government’s hope that the store will result in better quality service provision and enhancement of both local and international brands currently serving the Zambian market,” Mrs Mwanakatwe said.
And Jumbo Wholesale Africa executive Keith Dominy said the store will provide independent retailers a new trading experience by offering a comprehensive range of goods at competitive prices.
Mr Dominy said the company is sourcing100 percent of its food products locally and 90 percent general products
“We are delighted to bring our Jumbo wholesale format to Zambia and we are excited that this opportunity will help to create jobs and support the local economy.
“We are committed to supporting initiatives that focus on education and entrepreneurial development,” he said.
Meanwhile, Jumbo Wholesale Lusaka has invested K30,000 in Chawama Holy Family Community School to assist with their everyday operational needs.

 

Facebook Feed

ePaper App

Follow Us on Twitter