Securing modern equipment has been major challenge for Mulungushi Textiles, explains IDC

INDUSTRIAL Development Corporation (IDC) Chief Executive Officer Mateyo Kaluba says the Corporation will spearhead investments into Mulungushi Textiles following a sustained approach. Responding to a query, Mateyo said the decision by the government to limit new debt had an impact on securing required capital on the Textiles. “In terms of strategic direction, the government has been working on ensuring sustainable operations for MTL. One of the key challenges has been in securing the capital to invest in modern equipment to enhance the plant’s efficiencies. The decision by the government to limit new debt had an impact on securing the required capital. In the interim the Ministry of Defence took other measures to support the operations of the plant pending the…...