Zambian biodiesel producer seeks investment
Zambian biofuels producer Tapera Industries is seeking capital funding of over ZMW5 million (appr. €454,000) to expand its operations.
According to the company’s founder Mutoba Ngoma, Tapera is promoting the recycling and conversion of waste cooking oil into biodiesel and natural soaps.
‘The amount of investment into the business is approximately ZMW800,000 since 2014. This was after participating in the Mandela fellowship in 2014 in Washington.
‘We also attracted potential investors to expand operations, and we are looking at a capital injection worth over ZMW5 million within the next year. Our main focus is to expand our biofuels project to also produce electricity using biomass and biofuel energy,’ Ngoma says.
Tapera will continue building its capacity to meet both the standards set by the Zambian government and the local demand for biofuels.
The company is also planning to expand its markets overseas.
According to Ngoma, Tapea is looking for solutions to increase Zambia’s fuel supply sustainability and provide vocational training and work especially for the country’s youths.
‘The investment has done relatively well, it has been a challenge to introduce locally produced products to the public. However, we are doing our best to remain competitive and make our business viable,’ Ngoma concludes.