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Investor pumps $12.5m in agriculture sector

A SOCIAL impact investor and project developer, AgDevCo, has injected US$12.5 million in the Zambian agriculture sector since inception three years ago.
The organisation, operating exclusively in the agriculture sector, invested US$6.7 million in various agri-business projects in Zambia last year.
In response to a query on Monday, AgDevCo Zambia’s country director Peter MacSporran said the company will remain focused on expanding its footprint into more marginalised areas of the country by investing in various agri-business activities.
“We established an office in Zambia in May 2013. Last year, AgDevCo invested US$6.7 million, bringing the total investment to US$12.5 million in the Zambian agriculture sector to date.”
“[Our focus for this year is] to look at opportunities that will add value and have a growth impact on the agriculture sector in Zambia. This will include grain handling and storage in new areas, increased seed production of non-traditional crops, and opportunities for export of cash crops and livestock products. Our focus will be very much in Northern Zambia,” Mr MacSporran said.
He said the organisation does not only invest in businesses that are viable but also have an impact in the emerging agricultural sector.
Mr MacSporran said with the abundant agricultural resources in regard to land availability, water resources and expertise, there is no doubt that there are still plenty of opportunities for investors in the sector.