HomeNewsACF commits to long-term investments

ACF commits to long-term investments


AFRICA Chrome Fields’ (ACF) majority shareholder, Moti Group, has committed a long-term investment in Zimbabwe which will see the company employ nearly 2000 workers within the next two years.


ACF national project liaison officer Ashruf Kaka said the Moti Group had received positive support from the government and was investing in the country for the long term.

“The people here are educated, hardworking and knowledgeable. We have received government support which has allowed us to sink in $220 million into this plant in foreign direct investment in the past 18 months. We are grateful for that support and would like to assure you that in our vocabulary we do not have short-term or medium-term investments,” he said.

Ashruff said this while launching the Moti Group’s social responsibility programme, which will see the company build a new school within its area of operation and a clinic to service its workers and community.

“We are going to construct a self-contained school which will serve around 260 pupils as part of our social responsibility if all things go well by November. We are already in the process of constructing a clinic for our workers here at the mine which will also serve the community around us,” he said.

Finance minister Patrick Chinamasa, who toured the mining complex on Monday, said ACF, which currently holds mining claims which have a life span 10 years, had almost abandoned the project.

“We gave them National Project status and all projects that get this status get certain concessions which allow them to import all capital equipment duty-free. This was awarded after a long time of deliberations and at a time ACF had almost given up on the project,” he said.

Chinamasa said government had also allowed granted concessions for the Kariba South power extension project allowing them to import fuel duty-free.

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