Zimbabwe: IDC is looking for partnership in various fields II

Article type: Original    Source: zfhz.org.cn

Industrial Development Corporation (IDC for short) is a good example of a private public sector partnership with more than 45 subsidiary companies in chemicals, clothing and textiles, mineral processing, etc. Now, it looks for partnership in various fields, apart from spinning and weaving, multifruit processing, and avocado processing, it also looks partners in granite cutting and polishing, and furniture manufacturing.

 

Granite Cutting and polishing


An opportunity exists for the local value addition of black granite in Zimbabwe as a country with good deposits. Until September in 2012, there were only two companies involved in granite processing in the country and they are only able to process about 120000 cubic meters per annum, which is less than 10% of the quarried resource, while the bulk of it is exported as raw stone.


IDC has already invested in one of the companies, involved in both the quarrying and the cutting and polishing ventures in partnership with an Italian company. However, there is still room for additional players as less than 10% of the quarried rock is processed into finished products, while the rest is exported in its rock form.


IDC is therefore seeking for partners who are willing to expand the existing operations or to even set up a new operation altogether.


The cost of such a project is estimated at USD 2 million.

 

Furniture Manufacturing


Zimbabwe is endowed with hard wood trees in the Matebeland Province that are suitable for making durable furniture such as office lounge suites etc. the Bulk is exported as logs with limited processing in the country.


In an effort to add value to the locally available resource, IDC has invested in a furniture manufacturing company using hardwood material such as teak and mukwa. The company is in the manufacture of various types of furniture for schools, households (bedroom, dining and lounge suites) and other institutional establishments.


However, the level of operation for this company is still limited due to use of old equipment and lack of working capital to ensure optimum production.


IDC is therefore looking for a partner who is willing to inject the working capital and machinery in exchange for shares to boost the company’s viability.


The company requires USD 2.5 million for both working capital and purchase of machinery and equipment.


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