By Wallace Mawire
Harare – Local company Febrite (Pvt) Ltd has signed a Memorandum of Understanding (MOU) with a Pakistan based entity, Nexos.
The MOU was signed this week, by the chief executive Washington Chikombingo at a ceremony graced by Mr Murad Baseer, Pakistan Ambassador in Zimbabwe.
The signing event was attended by the Head of Delegation of the Pakistan International Business Trade Industries and Commerce Chairman Shouban Akhtar and representatives of the Zimbabwe government.
Febrite is a member of the WC Holdings International Group which was established in 2011 serving Zimbabwe’s energy sector.
It has other divisions spanning various sectors like health care,mining, international trade, contracting and commodity broking.
The company also managed to execute many contracts with local entities like ZETDC, Zimbabwe Power Company (ZPC), Rural Electrification Agency (REA), including the Municipality of Chegutu.
Chikombingo said their main focus of the venture is targeting new innovations in Artificial Intelligence (AI), energy solutions and technology transfer.
“We have great plans to set up manufacturing and distribution plants across Zimbabwe, the SADC region and to also participate in the African Continental Free Trade Area (AFCTA),” said Chikombingo.
He added that the MOU marks the beginning of business collaboration with their foreign counterparts.
The development resonates with the Second Republic’s aim of engagement and re-engagement of foreign investors.
