Fine Spinners Uganda Limited is targeting the Democratic Republic of Congo (DRC), Zambia and Ethiopia as part of an aggressive African expansion strategy following a US$5 million investment in new textile machinery.
The new investment, which is being financed entirely through shareholder equity and retained earnings, with no grant, subsidy or concessional loan attached to the programme, is expected to increase the company’s overall production capacity by up to 40 per cent.
The Bugolobi-based integrated textile manufacturer says the new investment will strengthen its ability to serve growing demand across Africa while also opening new opportunities in Japan and deepening its presence in European markets.
Fine Spinners currently exports to Germany, Denmark, Spain, Gabon, South Sudan, Rwanda and Kenya, in addition to serving the Ugandan market. The company has identified DRC, Zambia and Ethiopia as its immediate new African markets.
