|
NICO puts up 5bn/- fish processing factory in Mwanza
2008-01-30 09:33:57
By Patrick Kisembo
The National Investment Company Ltd (NICO) has injected a total of 5bn/- in a fish processing facility in Mwanza Region.
This was revealed yesterday in Dar es Salaam by the company`s board chairman, Felix Mosha, when briefing journalists on the company`s plans to sell more shares to Tanzanians.
He said the fish processing factory, due to start production next February, was the second big investment by the company after the National Microfinance Bank (NMB).
Mosha said so far the company had earned about 800m/- from the shares that it invested in NMB.
``We are also trying to invest in other areas, including Bayport Financial Service that aims at providing small loans to low-income workers,`` said Mosha.
He said the company was also planning to put up more processing industries in the country.
``The company plans to sell 50 million shares worth 1.5 bn/-,`` he said.
According to the board chairman, the shares would be sold at 300/- each through a number of banks, including NMB, CRDB, Exim, FBME and CBA.
He said the shares would also be sold at all post offices and at the Dar es Salaam Stock Exchange.
``We estimate to get 1.5bn/, though we expect to exceed the target. People should not hesitate to continue buying the company`s shares even if the 50 million shares are all bought,`` he said.
The chairman said the company would this time around go down to the district level, as previously it operated at the regional level.
Currently the company has 25,000 shareholders and the number is expected to increase following the issuing of new shares, he said.
|
