- September 26, 2022
- Posted by: Harvest
- Category: Uncategorized
One of Africa’s emerging conglomerates, Harvest Group of Companies Limited, has made bold its announced plan to expand its business reach by opening a chain of filling stations in Zambia.
The Group, which has business interests across sectors like energy, e-commerce, logistics, hospitality, and infrastructure development had announced that it would open forty filling stations in the East African country by year-end 2022.
Speaking recently at the commissioning of Harvest retail outlet on the International Airport axis in Lusaka, the Group’s chairman, Ugo Ikoro-Ngadi remarked that “Harvest Group is making huge strides that are not only bolstering our bottom line and transforming the Zambian and sub-Saharan African economy but also improving lives of people.”
The chairman, Ikoro-Ngadi further revealed that the group’s commitment to human development has birthed the Harvest Foundation through which it aims “to incubate at least 50,000 small businesses across Africa in the next half decade “through mentoring, knowledge-sharing and financial support.”
“As a responsible corporate entity, we will keep our promises to impact communities around us, especially vulnerable African women and youths” he added
He also admitted the group’s understanding of the challenges that may lie ahead in its recent quest but reiterated that as perceptive entrepreneurs, they see bright prospects.
“Our convictions are guided by market intelligence which shows Africa’s youths as an emerging powerhouse, and the continent as an investment destination.” He added.
With over $10 million in annual revenue and the capacity to handle other non-oil offerings that are associated with filling stations, Harvest has the vision is to be the most innovative distributor of quality refined petroleum products in Sub-Saharan Africa.
Petroleum products contribute 9.4% to the total national energy demand in Zambia. The country imports all its petroleum products, that is, petroleum feedstock and finished products.
But the distribution line is largely local, a turf which players like Harvest Group of Companies hope to dominate. The products are distributed to various government-owned depots where Oil Marketing Companies lift the finished products and distribute them to their own depots, service stations, and commercial customers.
Zambia’s Minister of Energy, Peter Kapala while speaking at the commissioning in Lusaka, said that the government was keen on reforms in the energy sector and formulation of policies that are targeted at specific areas of interest for the private sector and centred on the ease of doing business.
The minister also mentioned that such investments are products of “deliberate and intentional private sector-supporting policies fully and meaningfully employed” by the government.
Harvest Group’s investment in Zambia is capable of “empowering the mass of underserved African women and vulnerable youths” in the country. The minister added.