Pharmaceuticals company, Medtech Holdings, says it will soon start exporting one of its product, mosbar, to Zambia and South Africa due to firming demand.
Mosbar is a soap used as a mosquito repellant. Company chief executive officer Afzal Motiwala said exports would begin as soon as the refurbishment of Ruwa factory has been completed.
“We have an order of 30 00 units per month that we have secured already. Orders have also been received from Zambia and South Africa,” said Motiwala.
He said once the Ruwa factory starts operating it will also produce toiletries.
He said the company through its rights offer has managed to source funds to repay some of its debts and embark on other projects.
Motiwala said the company expects to export mosbar into the region due to demand for it.
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The company is set to invest $1 million for the recapitalisation of the Ruwa factory while $700 000 has been invested in Bulawayo factory since the beginning of the year to date.
“We have put the funds on raw materials and working capital at the factories. We have been hoping to have the Ruwa factory open but it looks like we need at least four months to have it running,” Motiwala said.
He said the Ruwa plant is the warehouse for the cosmetic products that were coming from South Africa.
Motiwala said the Bulawayo factory is currently producing 24 000 litres per month and output has increased to 30% and the company is targeting 100% production soon.
The Bulawayo factory produces the Beta range of products that include cough syrups and other medical supplies.