One of the two firms competing to buy the Kapiri Glass Company (KGP) in central Zambia has taken a step forward by making a down payment for the glassworks.
Commerce Deputy Minister Geoffrey Samukong…
One of the two firms competing to buy the Kapiri Glass Company (KGP) in central Zambia has taken a step forward by making a down payment for the glassworks. Commerce Deputy Minister Geoffrey Samukonga confirmed that the down payment had been made but would not give a figure. The minister expressed happiness at the progress made over the sale of the glass firm, which has been idle for years. The appointed liquidator, Mwila Lumbwe, of Ernst and Young, has been negotiating with two firms that are interested in buying the glass factory. KGP was initially sold to a German company but the sale was described as a post privatisation failure. In spite of this setback, Mr Samukonga said it had substantial assets, which, if sold, would enable the new buyer to settle the company“s debts. “We are anxiously waiting for KGP to resume operations and hopefully resuscitate Kapiri Mposhi town,” he said.