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Alba Iulia
Wednesday, August 12, 2020

NCZ in need of K1 billion to operate at full capacity

Economy NCZ in need of K1 billion to operate at full capacity

Nitrogen Chemicals of Zambia acting managing Director Zuze Banda (left) explains to Treasury to the Cabinet Fredson Yamba the operations and rehabilitation works currently taking place at the Kafue plant. This was when the Ministry of Finance and National Planning visited the plant on Wednesday to see how the company is utilizing the funds given to them by Government in August 2012
Nitrogen Chemicals of Zambia acting managing Director Zuze Banda (left) explains to Treasury to the Cabinet Fredson Yamba the operations and rehabilitation works currently taking place at the Kafue plant. This was when the Ministry of Finance and National Planning visited the plant on Wednesday to see how the company is utilizing the funds given to them by Government in August 2012

Lusaka Province Minister Bowman Lusambo says government is eager to see Nitrogen Chemicals of Zambia (NCZ) operating at full capacity.

Mr. Lusambo said NCZ is a strategic partner in the development of the agriculture sector especially that government is encouraging diversification from mining to agriculture.

He said this when he addressed management at Nitrogen Chemicals of Zambia in Kafue yesterday.

Mr. Lusambo who urged NCZ management to come up with a strategic plan that will help increase production also advised the workers to work as a team and avoid politicking.

He said government will not hesitate to flush out anyone who wants to frustrate its effort adding that, President Lungu is in a hurry to develop the country.

And NCZ Chief Executive Officer, Zuze Banda said his institution needs an injection of one billion to bring back the operations to full capacity.

Mr. Banda further explained that the needed funds are meant for the rehabilitation of various plants and as working capital at the institution.

He said the company also needs about K40 million to kick start the operations of the Ammonium Nitrate Plant.

Mr. Banda added that, NCZ will soon start producing seven new products that will help broaden its revenue base and create more jobs for the youths.

He asked government to help the institution in the settling of about K50 million debt owed to about 100 retirees.

10 COMMENTS

  1. How many times have we been here before…surely what would Bowman know about getting a strategic partner apart from the Chines his paymaster. They ones who paid for their course in China two years ago ….these foools had Eurobond and misappropriated it…

    • Here is irrefutable evidence of our dullness. Like ZESCO, Nitrogen Chemicals is a monopoly. We have a fully -fledged agricultural industry it is supposed to supply with its products. Zambia, as a whole, is agricultural. Why, in the name of effective management, does NCZ always seem to be limping out of the graveyard?

  2. The du.ll lusambo went there to threaten workers not to have independent voting preferences and when the need for money for operations was mentioned , the bone head shuts up…..

  3. meanwhile IDC the holding company for NCZ bought another loss making private company ZAMPALM for US$16 million not to mention Superior Milling and Intermarket Bank. Anyway lets see how IDC will fix this since they have increased the number of loss companies

    • PF govt of Lazy Lungu is incapable to fix a problem without a loan in the equation…these dingbats can not think.

  4. $100m?? That’s a sh1tload of money!!! To just hand it to the current management?? I don’t think so. To give such amounts, you need a solid business plan, a serious management shake up, political will, a serious change in attitude. Can it work?? Ofcourse it can. IDC needs to rise to the occasion.

    • If govt pumps in money, PF will line up its prefered suppliers to get the money out through dubious contracts.

  5. The finance minister, stated that we are servicing debt, then there is an announcement that bus drivers taxi drivers etc will benefit from social security(albeitby donating their money, and now becoming visible thru taxes and tpin ) yet all parastatls are asking for funds to pay for their retirees. Where did the retirees money disappear to.
    Unfortunately we have culture of living on credit, government wages late , some parastatals wage months late,
    Yet our finance minister tells the world we are managing. Reality is setting in. Put zambia first not this nonsense of its our turn to eat. A government is there for the NATION to eat !!!!!!!

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