LAPF Pension Fund invests $3.90 million in a meat processing plant in Tanzania
"The investment rate made by LAPF is $ 3.9 Million equivalent to 39 percent of the company's shares, where Eclipse Investments LLC shares 46 percent stake and Busara Investments LLP has 15% shares", said Sanga.
Mr. Sanga added that the factory will spread across 6,000 acres of which 1,200 acres have been built for livestock pastures. It is estimated that the new unit will process 300 cattle and 2,000 goats per day at its full capacity. In addition, 500 jobs will be created in the area.
"We recognize that Tanzania has many potential investment opportunities in the industry, but LAPF has seen this opportunity as one which satisfies all investment agenda criteria," said Eliud Sanga, LAPF Pension Fund General Director.
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