Just when the whole world was thinking that Rajan Mahtani has sold Finance Bank Zambia to BancABC and would now be planning his retirement in some cozy countryside, here is a news which will grab the attention of many. As per the latest developments in the economy of Zambia, it has been confirmed that a new bio-ethanol plant is coming up in the Luapula Province. The plant is being brought up in a collaboration between the Mahtani Group of Companies and the Sunbird Group. According to sources, a total investment about USD 190 million is to be made.

The new bio-ethanol plant is expected to generate a good revenue to the Government and will also offer the locals an opportunity to earn. A total of 7000 people would be directly employed through the course of operation and another 25000 farmers would be required to meet the need of Cassava, a crop which is cultivated in the Luapula province. To sum up, this development will change Zambia’s dependence on external resources and will ensure that it is able to sustain to a considerate level.

Conspiracies may have been surrounding Rajan Mahtani for long, but this has not made the 67-year old Zambian businessman weak in his intentions. He continued to deliver excellence in the realm of leadership and influences thousands of people with this efforts. The Mahtani Group of Company has reserved Dr. Mahtani as the Chairman and it is due to his commitments that the most of the people in Zambia are able to live a life full of dignity and pride. In 2015, it was announced that BancABC has taken over Finance Bank Zambia and the takeover has made the acquirer the biggest commercial bank in Zambia. However, there are people who have felt jealous of this development and have used Zambia Reports to ventilate their feeling.