YALELO Limited chief executive officer Bryan McCoy has commended Development Bank of Zambia (DBZ) for trusting the organisation with equity to enable it to address operation challenges. “When DBZ originally invested in Yalelo, we were actually a small company that was beginning to [learn] how fish could be grown in Lake Kariba. We had just over 100 employees and we were presenting a growth opportunity of the aquaculture sector in the economy of Siavonga.

“But we did need an investor to believe in us and to help us achieve our dream. DBZ invested K12.5 million in Yalelo and this made us to invest in our operations, sales and to begin building our team. “We are happy to make our final payment to DBZ worth K31,883, 319.38. We can now focus on expanding our operations,” Mr McCoy said last Friday when presenting a K31 million cheque to clear a loan obtained from DBZ five years ago. Currently, Yalelo has an annual production capacity of 18,000 tonnes and employs over 900 people. Yalelo chairman Fisho Mwale said there is need to support the growth of local industries.

“We are happy that DBZ was able to partner with us and we urge other banks to emulate what DBZ is doing,” Mr Mwale said. And DBZ acting managing director Edward Mulilo called on firms to devise innovative solutions to remain relevant. Mr Mulilo said businesses can remain afloat by ensuring that workers put in their best performance. “I do believe that there are solutions to every challenge. All we have to do is pick on the most efficient and effective solution to the challenges being faced, instead of waiting for a miracle to happen,” he said.

Mr Mulilo said the gesture Yalelo has shown to clear the loan signifies that there are still businesses with the capacity to sail through the current economic challenges. “Regarding the operations of Yalelo, DBZ is encouraged to continue providing tailor-made financial and advisory services to the players in the Zambian economy,” he said. In 2014, Yalelo borrowed an initial loan worth K12.5 million from DBZ to address production and distribution constraints that the company