HomeBusiness DigestAstra makes forays into Angola

Astra makes forays into Angola

Shakeman Mugari

ASTRA Industries Ltd (Astra) has begun making inroads into the growing Angolan market as the company moves to tap the regional market.

=”Verdana, Arial, Helvetica, sans-serif”>The company has already sent the first paint consignment which will be on the Angolan market in the next few weeks.

Astra has also entered into an agreement with a distribution partner that will sell the products.

Managing director Nicholas Nyandoro told businessdigest in an interview that the company had shipped the first consignment a few weeks ago but there were plans to enhance its position in Angola.

“We are now in Angola but it is still at exploratory levels,” he said. “We believe there is potential in the market particularly in the construction sector, which is poised for growth. The first consignment of paint is on the way.”

Astra is also exporting to Zambia.

Regarding latest trading conditions, Nyandoro said the current quarter had begun on a high note with improvement in volumes.

“Volumes in this quarter are better compared to the same period last year,” he said.

“Margins are also being maintained because of the dollar that has stabilised in the last few months. Paint volumes have however, been challenging, remaining lower in the last same period last.”

Nyandoro said the company was poised to meet the budget expectations if all conditions remained constant.

In a related issue, Nyandoro confirmed that the company would make slight strategic and structural changes in the top management soon.

According to the proposed changes the current non-executive chairman Elias Ngugama will step down to make way for Nyandoro. The current operations director Mackenzie Mazimbe will take over from Nyandoro as the managing director.

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