The Cotton Board of Zambia has described as a step in the right direction the move by the government to find an equity partner to revamp the Mulungushi Textiles Limited.
Mulungushi Textiles Limited is expected to commence operation in the fourth quarter of 2024 as the investor has already procured equipment to kick start phase one of operationalizing the company.
Cotton Board of Zambia Chief Executive Officer, Sunduzwayo Banda, therefore says revamping Mulungushi textile Limited is critical in enhancing cotton value addition and job creation.
He said in a statement issued to RCV News in Lusaka today that the textile industry is a critical sector to achieving Zambia’s economic diversification and industrialization agenda.
Mr. Banda said he is confident that the revamping of the Mulungushi Textiles Limited will have a positive impact on cotton farmers, which will improve rural livelihoods.
He expressed happiness that some of the policy pronouncements made in the 2024 national budget in the cotton industry are bearing fruits.
By Eva Hatontola
