The National Pension Scheme Authority (NAPSA) has invested K60 million in three fruit processing factories under the Industrial Development Corporation (IDC) to revive economic activities in three regions of the country.
IDC Investment Manager Brian Nalishuwa has revealed in a statement issued by NAPSA head of Corporate Affairs Cephas Sinyangwe that financing of the project has been done through a loan facility to facilitate the early stage mobilisation of the factories.
He said the three factories that are currently being set up are the Kalene Hills Fruit Company Limited in Mwinilunga District, North-Western Province, the Eastern Tropical Fruits Company in Eastern Province and the cashew processing company in Western Province.
Three factories will be processing local agricultural products ranging from assorted fruits, cashew nuts to groundnuts, among others, for the purpose of value addition, Mr Nalishuwa said.
And NAPSA Director General, Yollard Kachinda says he is delighted with the investment because the factories will create thousands of direct and indirect jobs through various schemes.