Youths commend IDC’s investment in Marcopolo

As young people we want welcome IDC’s acquisition of 49 percent shares in Marcopolo Tiles Company Ltd at the cost of $41 million in partnership with NAPSA and Workers Compensation Fund Control Board - WCFCB.

We are happy with this transaction because for us it promises more entrepreneurial and employment opportunities for Zambians and particularly us the youths.

We are aware that Marcopolo Tiles sources its raw materials locally which helps in improving our country’s balance of payments as raw material imports exert more pressure of our currency.

We have noted that despite being incorporated in 2016 with the initial value of just US$35million ,Marcopolo Tiles has grown it’s value to over US$200million which is unprecedented for any company if you ask.

According to the investment upraisals IDC together with its partners NAPSA and WCFCB will be able to recoup their investment in 5 years they will be receiving dividends of about US$8.2million annually from Marcopolo which made a profit of US$11.5million in 2020.

Marcopolo is projected to continue on this growth trajectory as a going concern as they have now opened the sanitary ware manufacturing plant making them the first Zambian company to manufacture toilet sits, bathtubs and other sanitary ware.

As you maybe aware Marcopolo Tiles is the only company outside South Africa which make tiles in the Sub-Saharan region and we all know that there is high demand for tiles our country and the region which means Marcopolo will obviously be exporting their products resulting in favorable forex for our country.

For us these are the kind of investments we advocate for because they will result in the growth of our country’s manufacturing industry and economy ultimately and we urge all well meaning Zambians to support this deal.