Imara Private Equity Portfolio Company Yellowstripe Resources Limited has announced commissioning of its steel plant in Zambia
The company’s plant is located in Chambishi in the Zambia Copperbelt region and is a manufacturer of steel and high chrome mill balls from scrap metal. The plant has been under construction and was recently commissioned in January 2018.
The plant has incorporated the latest technology and streamlined manufacturing processes to deliver the highest quality product for the mines. The end to end solution is a first in Zambia to produce forged mill balls of multiple sizes catering to all mines.
Hector Fleming, joint chief executive of Imara and head of the private equity division, commented, “The investment is in line with the Zambia government’s initiative to substitute imports and promote regional trade and will go a long way in creating jobs downstream and improving the depth of manufacturing skills in the Copperbelt region.”
Sam Singh, CEO of Yellowstripe, said, “The highly advanced plant is a one of a kind facility set up using the latest available technology to produce mill balls of various sizes and specifications as required by our customers, the mines. We are already speaking to many of the leading mines in the region for them to test our products.”
The Imara Group is a Pan African firm with more than 60 years of presence in Africa with deep local roots. The company focuses on sourcing, executing and managing mid market private equity and debt transactions across Sub-Saharan Africa on behalf of the investor.