Kapiri Glass Manufacturing (KGM) has signed a K40 billion-loan agreement with the PTA bank to revive a defunct plant in Central Province, Zambia.??
Chairman Costain Chilala said KGM will create more than 400 new jobs once it is fully operational. However, he complained of the attitudes of many local banks, which he said make it impossible for entrepreneurs to borrow funds for long-term projects.?? He urged the government to consider introducing measures to ease borrowing, either by creating an industrial development fund or enacting policies that will encourage entrepreneurs to invest in Zambia.