Improving The African Continent
Moti Group is preparing to double its investments in Zimbabwe to $500 million. In partnership with Sakunda Holdings, Moti plans to spend $250 million over the next four years in projects ranging from chrome-ore mining to fertilizer, diamond polishing and pharmaceuticals. The group has already invested about $250 million to date, mainly in mining.
The company is now planning to boost production at its African Chrome Fields Ltd. unit through the use of small-scale miners. “We will provide them with some additional equipment and safety gear, and pick up the product with our trucks, where we will pay them cash,” Moti said. His company has been involved for three years in the mine and employs close to 1,300 people.
African Chrome Fields currently mines about 30,000 metric tons of chrome ore a month, which it sends to its smelter in South Africa. It plans to increase that to 65,000 tons by year end.
The company has also partnered the government in the “Command Agriculture” program championed by Mnangagwa in his former role as deputy president. Together with Sakunda, it plans to ramp up fertilizer production and may even export to South Africa. Other plans include a diamond-polishing facility in the capital, Harare, and a plant to start manufacturing generic drugs to supply the country with cheaper medication, he said.