Development Bank of Zambia funds the roll out of high capacity milling plants
The Development Bank of Zambia (DBZ) has funded the Zambia Cooperative Federation (ZCF)– to roll out high capacity milling plants in maize producing regions of the country as a way of mitigating high mealie meal prices.
ZCF Chief Executive Officer James Chirwa says the Cooperative has already received the first disbursement of the funds and is spending nine point eight million dollars to set up huge milling plants in Luanshya and Mbala Districts.
Speaking after touring the Milling Plant constructed by the Mine Workers Union of Zambia in Chambeshi, Mr Chirwa said ZCF is taking milling plants to maize producing areas so that it can add value to the maize.
And Mine Workers Union of Zambia President Joseph Chewe said the union has decided to venture into various businesses as a way of participating in the diversification of the economy.
Mr Chewe says the Union through its holding company Shimaini Investments, will create a lot of jobs to ensure that people have a source of income.
Meanwhile, The Nakonde Milling Company in Muchinga Province has further reduced mealie-mealie prices for its consumers.
This has been confirmed to ZANIS in an interview today by Nakonde Milling Company Director of Finance Willa Mung’omba.
Mr Mung’omba said a 25 kilogram bag of Mealie-meal is being sold at K65 while a 10 kilogram bag of breakfast meal is going for K30.
Mr Mung’omba added that the reduction in mealie-meal prices by the local company is attributed to the adequate and availability of raw materials such as maize.
Mr Mung’omba noted that the reduction in mealie-meal prices is a way of giving back to the community.
In January this year, Nakonde Milling Company reduced the price of mealie meal from K170 to K75 and later to K68.
The setting up of Nakonde Milling Company through a loan from the Citizen Economic Empowerment Commission (CEEC) has stabilized and recorded a dramatic reduction of mealie meal in Nakonde by over 100 percent.
Source: Lusaka Times