Dar-es-Salaam, Tanzania, 16 June – Tanzania’s Samaria Group, one of the largest private groups in Central and Eastern Africa, has set up a joint venture with Mozambique’s Gulamo Group to work in the infrastructures and raw materials processing sectors in Mozambique, the EastAfrican newspaper reported.
The new holding, known as G.S. Holdings Limited, is equally owned by the Tanzanian and Mozambican groups, but its capital has not been announced.
G.S. Holdings will set up food oil, maize flour, biscuit, soap, plastic and cardboard factories by the end of this year, some of which are already operating experimentally.
The group’s management, according to the company’s director of planning, Dipen Shah, will be the responsibility of the Sumaria Group.
G.S. Holdings Limited thus becomes one of the largest groups in East Africa with interests in Tanzania, Kenya, the Congo, Mozambique and Uganda.
In 2003, Sumaria, via its chemical products company Shelys Pharmaceuticals Ltd, acquired Beta Healthcare of Kenya for US$4 million.
The Sumaria Group began operating in Dar-es-Salaam in 1957 as as small import-export company and has now become one of the largest in the region.
The Gulamo Group, one of the largest companies in Mozambique has interests in the tea, air transport and supermarket sectors.
The Mozambican group also operates Sundry, a product import-export company.
The Gulamo Group is based in Nacala, in Northern Mozambique, whose port is used to export products from Malawi. (macauhub)