PressCane Limited is describing its newly-launched Pharma Grade Ethanol as a big milestone towards saving the country’s forex.
The highly sought after product is used in the production of alcoholic beverages as well as in the pharmaceutical industry.
Malawi has been spending a lot of forex to purchase materials needed to produce various alcoholic beverages and medicines.
Ronald Mangani who is the chief executive officer for Press Corporation, the mother company for PressCane Limited is positive that the product will be welcomed on the market.
“We are optimistic that the market will be responsive. As we speak now, some of our existing and prospective customers have already shown interest in demanding this product.” He said.
Mangani added that; “we are executing an expansion strategy that will result in an increased in our production capacity from the current average 60 million litres per day to plant utilisation at 90 million litres per day.”
Taking his turn, Chisomo Gunduze, chairperson of PressCane customers said; “the old product was only for outside the skin and that created challenges on the market for us but we appreciate this new product can be used for medication which can also be swallowed.”
Gunduze added that; “For the past years, we have been struggling going to Zambia, Eswatini and other countries trying to buy the product and we are happy that it is now here with us which means challenges which we have been facing have been resolved.”
Meanwhile, PressCane chief executive officer Brison Khomawanthu is revealing the company’s intentions to introduce more products on the market and expand the market beyond Malawi.
“There is still room to expand. We have given our investor confidence now and I am sure when opportunities arise the investor will be able to listen and we can invest more.
We want to take advantage of this new product and create forex income for ourself. We have already been into Mozambique where we have prospective customers whom we have given them a sample of our products and they are happy with it. We are just finalizing some logistics and other negotiations.” Said the PressCane chief executive officer.