Khato Holdings has announced plans to expand its construction business to Africa with Malawi, Botswana, Namibia, Ghana and South Sudan among the countries the conglomerate wants to claim huge stakes.
Simbi Phiri, Executive Chairman of the Khato Holdings, which comprises Khato Civils and South Zambezi firms, said this at the company’s Annual General Meeting in Johannesburg in South Africa.
Khato Holdings has, for a long time, been largely operational in South Africa but Phiri said now there focus would be to dominate the continent.
“Our plans are to concentrate on clinching contracts in the rest of Africa. We want 80 percent of our work to be in Africa and 20 percent here in South Africa,” he said.
The conglomerate is currently implementing a multi-billion Kwacha water project where a pipeline will be constructed to pump water from Lake Malawi to Lilongwe which is usually hit with acute water shortages.
Though the project has been met by legal battles centred on calls for a assessment on the impact the project will have on the environment, Phiri said they are still looking forward to implement it.
“The problem is that our critics do not understand the construction procedures. There is no way we could have done the environmental impact assessment before doing the project designing which determines the route the pipeline will be constructed.
“However, we are still eager to continue with the project. In fact some of the works have already started but will go full throttle once they environment impact assessment has been finalised probably by February next year,” Phiri said.
He was optimistic that they will manage to dominate the construction industry in Africa because they have hi-tech machinery which can do any work in the continent.
During the AGM, Phiri provided strategic plan of the company to shareholders, directors, senior management as well as other stakeholders for the next 12 months.
General managers and senior project managers from various countries the company operates in also presented their respective operational reports.
Meanwhile, Phiri told the AGM delegates that his company would carry out the project in less than 16 months time from the date of commencement.Follow and Subscribe Nyasa TV :