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New lightbulb factory.(Investment)

Royal Philips Electronics, the Dutch multinational corporation, is entering a joint venture with CEF (Pty) Ltd, owned by the South African government, and Kareboo Systems, a privately-owned black economic empowerment (BEE) company, to set up sub-Saharan Africa's first compact fluorescent lamp integrated (CFLi) lightbulb manufacturing plant. Lesotho was chosen to site the new factory because of the country's need for industrialisation and its membership of the South African Customs Union, which gives duty-free access to a huge regional ...

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