Afriag's marketing division ready for business

20th Aug 2014 09:08

AIM-listed agri-logistics group Afriag announced its marketing and sales division has now been established in South Africa and expects to secure its first contracts shortly.The firm's focus will be the sourcing, distribution and marketing of African agri-produce within the southern Africa region as well as to global markets.Working capital for the company will be funded from its current cash reserves, Afriag said.Chairman David Lenigas said: "The process to establish the new wholly owned marketing division has taken a little longer than originally envisaged, however the process is now thankfully complete and AfriAg Market is now fully operational and ready for launch, with all the necessary permits in place to import and export goods in an out of Africa."As of 08:16 the share price had risen 5.47% to 0.72p. WS